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Bitcoin forecast

Aug 18, 2018
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bitcoin prediction

Bitcoin forecast

**Note: All forecast on bitcoin will change according to the updates progressively

(9 August 2018)

What can we predict about bitcoin in 2018? Talking about bitcoin forecast here. Cryptocurrency market has slowed over the past months and bitcoin holding price levels within the mid $7,000s. Robert Sluymer and Tom Lee, from the market analysis firm believe that this will change very shortly. Tom Lee Reaffirms $25,000 Prediction Again, now on Bloomberg

If you might know by now, Tom Lee is by-far one of the most prominent cryptocurrency bulls out in the space right now. He always appears on mainstream media sources covering topics related to the cryptocurrency industry, including bitcoin. Till today, Tom has not wavered a bit in his belief. If you are to ask why, well, he hold strong on this prediction. It is because he strongly believes many traditional institutions are beginning to pile up as they see a lot of lucrative business opportunities. And that the regulatory side that is building around cryptocurrencies like bitcoin will only improve. It will make them reach higher heights in terms of institutional and retail adoption. He always noted that to mine bitcoin next year is like $14,000 which shows its difficulty.

For Robert Sluymer, he sees bitcoin bottoming. He believes that bitcoin is bottoming off key support around $7000. From there will star key support. He believes bitcoin is changing, challenging its downtrend. One thing he pointed is that bitcoin RSI is now at quite low level, same as levels seen before temporary movements to the upside seen earlier in the year.

Sluymer specifically say that at $7800 level, and it needs to get through that level to confirm that you are actually getting a trend reversal.

Now, Sluymer also say about the unlikely chance of a ‘worst comes to worst’ scenario. He said that if Bitcoin does not hold price levels at $7350 and $7000, that we could see further moves towards the downside.

Tom lee predict that bitcoin is going to reach almost $ 25,000 by the end of 2018. He even predict that it will rise to $ 125000 by 2022. These are bullish and the recovery in Bitcoin will be quite fierce as well. Then by the month of July, there will be a complete recovery. After that, Bitcoin will again be able to head to newer highs as well. This is the reason why many investors think that it will be able to hit new highs consistently during the next half of the year.

Tom lee says that bitcoin acceptance will grow more and more. Once Bitcoin crosses the older highs, the movement will be back. Then it will be able to create consistent new highs as well.

Tom lee feels that of all cryptocurrencies, bitcoin and ethereum are the blue chips. So it is recommended that nvestors should think about investing both bitcoin and ethereum. A lot of people are unsure when to invest in these, whether it’s now or in the future. The thing to note is, bitcoin has been gaining momentum and is returning again.There are also more and more people knowing about bitcoin.

In 2018, bitcoin prices is very volatile. It is hard to predict even by experts. Not forgetting google and Facebook initial ban on all cryptocurrency related ads which make bitcoin growth even harder. But bitcoin had been very resilient through the many low period in the past and had always survived. It is surveyed that many will still buy the coins in the hope that it will climbed tremendously again. Well, do expect a lot of fluctuation again. However, the future still looks bright for cryptocurrencies like bitcoin.

 

(10 August 2018)

-More prediction below-

Several crypto-experts predict that bitcoin will double in value by the end of the year. e It is considered even with its recent price being stagnant. Last six months has seen bitcoin’s price fall from more than $19,000 in December 2017. Now the value is below $7,700. Because of uncertain regulation, crypto heist and several other problems contribute to the bitcoin’s price decline. The price of cryptocurrency do get more and more stable. But for the short term, it remains to be stagnant. For blockchain expert and CEO of Ultra, David Hanson, he believes that bitcoin’s price will fluctuate between $6,500 to $8,500 in coming weeks. He predict that the value of bitcoin will go up as more big institutions enter the cryptocurrency space. This will further legitimising the market.

Many believes that bitcoin price will reach $10,000 soon. This is because more regulatory measures applied to the crypto section. This result in more financial institutes willing to enter this sector. This will build up investors confidence in the crypto space. At any time, bitcoin might surge up in value.

Beside bitcoin, EOS also holds much promise, especially by David Hanson. He thinks that EOS is unique with scale it handles its ecosystem very differently. We should keep an eye for this.

 

(11 August 2018)

Bears

As of current bitcoin price, things doesn’t look promising. For bitcoin investors, the difficult week for bitcoin is going to become worst. This is according to Renaissance Macro Research. It is known that Jeff deGraaf, who is the firm head of technical research claim that he would recommend betting against bitcoin if the cryptocurrency broke through its key year-to-date support level. deGraaf states that “Parabolic moves are notoriously dangerous for short‐sellers . Usually a top develops that often appears as a descending triangle over months, with reduced volatility and little [fanfare],”

“Once the top is complete on the support violation, the security in question can often be considered permanently impaired or even ‘game‐over’. We are of course referencing Bitcoin as exhibit ‘A’ in today’s market.”

The price of bitcoin is down roughly 14 percent over the past week. U.S. Securities and Exchange Commission (SEC) delayed a decision on a proposed bitcoin exchange-traded fund. Bitcoin is down about 50 percent so far this year, according to data from Coinbase.

As one of the most respected chart technicians on Wall Street over the last two decades, deGraaf, is ranked the No. 1 technical analyst by Institutional Investor Magazine for more than 10 years across his career. He was a member of Institutional Investor’s Research Hall of Fame in 2014

 

(14 August 2018)

The decline of cryptocurrencies

Bitcoin now had seen a rapid decline and even more so are the altcoins. Ever since the bitcoin ETF by winklevoss was rejected by SEC, everything went down hill. Critics of bitcoin and other crypto related coins are all out to bash it. With the common reasons for the volatile of bitcoin value, little regulations and the limited quantity of bitcoins that can be made available, it deters many investors from pouring their resources onto bitcoin. Though scalability had improved a little, the amount of electrical consumption in mining the bitcoins is so huge that it become unsustainable to a point of getting ridiculous.

The fear of price manipulations and the hordes of scammers are driving the investors nuts. It definitely will take some time before the general public can embrace it. Time will tell…

 

(17 August 2018)

Should you invest in cryptocurrencies if you are a novice investor?

Well, it really depends. If you have never invest in anything before, you are strongly discourage to invest in it. This is even if it is an established cryptocurrency like bitcoin. Through observation for the past few days, the cryptocurrencies market is highly volatile, full of scammers and people still struggle to find usefulness of it. People still find it hard to come out with ideas of why it can replaced fiat currencies. Most likely cryptocurrencies can only run side by side with fiat currencies. Definitely not within the next 3 years.

Novice investors with some experience in other investments (other than bitcoin and altcoins), will be good if they are more ready and engage with more experienced investors when trying to invest. This is so as to minimise the losses that can incurred at the beginning. There are many things to take note of like the high transaction fees, and the time it took to complete the transfer of the coins or to liquidate it. There are always many factors involved so please do your “home work” first

 

(13 September 2018)

New prediction for bitcoin

Bitcoin price has been moving like a rollercoaster in the past few months. But for one who have been observing the price, it is frequently fluctuating between $6000 ~ $8000. At the end of August, bitcoin price soared past $7,000 for the first time in nearly three weeks. Bitcoin extreme price volatility is seen again on September 5 when in just 10 minutes, it crashed 3 percent. It is triggered by Goldman Sachs withdrawing its planned crypto trading desk.

Actually for all the “die-hard” crypto investors, such drop in bitcoin value is as common as taking your breakfast everyday. They are simply unmoved in such price outcome, much less into panic selling. In fact over the past years, bitcoin price will always recovered after a drop in price. Digital Securities Exchange (DSX) CEO, Mike Rymanov doesn’t see this as a long-term problem. He said: “I expect the market will recover from this quickly, and Goldman’s exit will only serve to call for clearer and tighter regulation before the bigger players can enter with confidence.

He added: “Furthermore, and despite Goldman’s exit, we expect other financial institutions will continue to look for ways to provide robust custody solutions for cryptocurrencies.” Followed by: “Once these come into play, those investors who are currently sceptical or who have security concerns will be able to invest securely.”

The price rise lately had cryptocurrency expert buoyed and its ability to sustain it for a week. Many of these experts have very bullish prediction for bitcoin at the end of 2018. Several of them have some confidence that it can crash through the $10,000 price barrier as early as Christmas. They then predict a drop in price before using this momentum to soon reach $20,000.

Gabriel Francisco, a consultant at TMT Blockchain Fund once said that it is “inevitable” that the price will soon reach $20,000. He predict that because blockchain technology has become mainstream and and rapidly changing how businesses function. “Already Bitcoin and blockchain technology have passed the point of no return. Pandora’s box has been opened, the truth cannot be copyrighted, and is in fact, open source.”, he stated. Before adding: “Code, mathematics, is becoming the future of law, immutable, accessible to all and after 10 years it is becoming mainstream.”

For Maya Kumar, UK and Ireland head of Luno. She said that mainstream awareness around Bitcoin has only reached the tip of the iceberg, with more businesses, funds and rich people engaging with reputable cryptocurrency platforms to trade millions of dollars in Bitcoin.

For other experts view, Danny Scott, co-founder of CoinCorner is very confident in Bitcoin that he believes it will more than double in price to $15,000 over the next three months. Then proceed to go onto $20,000. He said: “I have no doubts that it will hit $10,000 again, with my most recent prediction being that we’ll hit the $15,000 mark just in time for Christmas – it is just a matter of time. “I believe Bitcoin will eventually become a world reserve currency, which will of course increase the price and take it far beyond the previous heights of $20,000,” he added.

For the Managing Director of Emerging Markets Investment Club, Devin Milsom. He is predicting a spike in Bitcoin’s price once it breaks through the $10,000 barrier because investors won’t want to miss out on a potential market boom. Well, talk about another FOMO again like at the end of 2017. He said: “Once we are above $10,000 again, human psychology will cause the many investors to have fear of missing out and it won’t be long before we attack the $20,000 levels again. He added: “If we do break above the $20,000 levels, the potential upside for not just Bitcoin but the entire market capitalisation could be in the trillions.”

For the co-founder of CryptoCurrencySimplified, Erica Stanford. She isn’t so optimistic adding a price rise could spark a massive market sell-off. She said: “There are many people who bought in at around $20,000, who will cash out the minute it gets back near there. Now these are the really “bear” comments you heard from well known people. She then added: “Also, many investors and institutions bought in around $6,000, these will be sitting on heavy profits and there will be a lot of selling off, realising these profits, realistically long before Bitcoin hits $20,000 again.

For Michael McCann, the senior economics lecturer at Nottingham Business School. He sees the current Bitcoin price growth pattern soon driving it to $10,000, but is forecasting the longer-term success of Bitcoin as a “risky business” due to the market volatility. He made some notable comments: “A trader who speculated on a rise in price on August 31 on the basis of news regarding the long-term value of Bitcoin and sold early on the 5th, they would have bought at $6,934 and sold at $7,368 – an increase of 6.88 percent over three days.

Then he added: “This is the pattern in the price of Bitcoin I expect to see repeated over the next few months. Followed by: “That may well drive Bitcoin above $10,000, but with its current volatility, it is hard to know. “It has been above $8,000 and below $6,000 in the last three months. Forecasting where Bitcoin’s price will move is a risky business.”

So what do you think? You may leave feedback for us to tell us your own prediction for bitcoin price in the near future.

 

(4 June 2019)

Prediction for bitcoin

Despite bitcoin still very new in the finance world, it has been making strides to bigger news. Bitcoin in 2019 is entirely different from 2018. In 2018, bitcoin and other cryptocurrencies slowed and is very bearish in its value. In 2019, institutional FOMO is making cryptocurrencies more and more important today. bitcoin transaction will only gets faster and cheaper with better technologies. More places are accepting bitcoin as a mean of transaction (though still at “infant” stage, but surely making the right direction)

Prices of bitcoin and cryptocurrencies turned bullish from the start of 2019. Bitcoin once again moved up from USD 6000 and above valuation. It is predicted that it can moved beyond USD 10,000 in valuation within this year.

There has been more supporters than those who criticise this virtual currency. Only time will tell whether it really be a success.

 

(5 October 2019)

Bitcoin price at end of year

Despite all circumstances, the Bitcoin price do have a tremendous run in 2019. It is roughly tripling its price in U.S. dollars since the start of the year. That said, Anthony Pompliano, who is Morgan Creek Digital co-founder, thinks the party is just getting started. For him, he predicted that bitcoin price will reach $100,000 at the end of 2021. Is it just a fantasy dream?

A halving event in Bitcoin is when the amount of Bitcoin that are generated by miners every ten minutes is cut in half, so bitcoin’s monetary policy was set in stone, when the network went live back in 2009. The scheduled issuance of new Bitcoin is halved roughly every four years.

About Fundstrat chief’s $10,000 prediction came to pass in June 2019. Now we are talking about Tom Lee, so with the $10K mark attained, Lee believes this price milestone will trigger a FOMO-driven hype among retail investors taking BTC to $40,000 before the end of the year. But so far the $10,000 had been breached several times, it as rather quiet for the cryptocurrency space.

 

For year 2020

Bitcoins has total of 21 million bitcoins in circulation. These bitcoins are released through block rewards for miners at a pace that everyone predict. That reward will be halved every 210,000 blocks with each block found approximately every ten minutes. So halving causes the demand to exceed the supply, the value of bitcoin will then increases.Since bitcoin is still relatively young, and the crypto market doesn’t always behave according to what we are used to from other normal financial markets.

Lets take a look at previous block halvings. Bitcoin block halving has a direct effect on the price which can calculate that it takes four years to mine 210,000 blocks.  May 2020 is when bitcoin will half again, the reward will consist of 6.25 bitcoin. At first, miners received 50 bitcoin per mined block, four years later the reward was 25 bitcoin. Now a miner receives 12.5 bitcoin per block. If like this, less and less new bitcoin come on the market and there is a controlled and predictable deflation. Demand for bitcoin is expected to continue to grow, but the supply can’t grow proportionally. This will cause bitcoin value to skyrocket.

First halving took place in 2012. A year later, bitcoin reached an all-time high with the same happened in 2017. Then a year after the 2016 halving. So we can predict when bitcoin prices will surge upwards.


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