Well what would today be without posting about bitcoins major 10% advance so far today up over $5,300 and smashing through that 5k mark we have been wondering about.
Heck even Jamie Dimon says he is done talking about bitcoin. Thank goodness that tool lol
Alright so lets look into what might be driving these high prices here all of a sudden.
Hardfork / Split
Bitcoin cash was a nice injection of pretty much free money for people who own bitcoin. However I still feel much of the bitcoin cash is still locked up from people not being able to access it as of yet. It's there but depending on where you parked your bitcoin during the split you may or may not have access to it yet.
The surge of bitcoin price might very well be the factor of the next hard fork that should be happening here early November.
Last hardfork bitcoin cash actually made everyone panic and sell their bitcoin driving the price downwards of $2,000 back on Aug. 1st 2017.
Now that everyone pretty much knows what will happen during a hard fork and the possibility of free coins this very well could be driving up the price and hold on bitcoin. Free coins why not right?
Continued Supply and Demand
The trend for bitcoin has always been upwards, simple supply and demand has pushed prices steadily higher over time and will continue to do so for the foreseeable future.
China
While China only had about a 19% market hold on bitcoin when the ban took place. New news has come up about China possibly getting back in via licensing from their "government" While China entering back into bitcoin will of course increase prices again it wont be by massive amounts but instead about a 10%-20% increase in bitcoin price max.
All being said as of right now nothing negative is towards bitcoin and only positive which will continue the upward trend to new levels. The major issue bitcoin faces along with any cryptocurrency right now is scalability. If bitcoin can overcome its scaling issues or any cryptocurrency really the price will skyrocket!
Very interesting. Thanks for enlightening us with wisdom . Got my up vote! Follow and you shall be followed!! :))
Excellent recap.
What a surprise? The Chinese are getting back into bitcoin? How many times did some of us post that the Chinese were NOT going to get out of Bitcoin nor were they looking to eliminate it. The Chinese government wants to control it, at least within their borders. That means state run exchanges and mining operations.
I think this run heads towards $6K before pulling back. Some of the EW people are calling for a major pullback...it could happen I guess. I look for BTC to be $25K by the end of next year.
Good insight, for sure there will be a pull back once the hard fork happens and people get their bitcoin gold they think they will be getting from this hardfork. Besides that I don't see any current bad news that would push it down at the moment. 25k by end of next year would be pretty sweet!
I think Wall Street money pushes it higher.
We know there is $500M going to be unleashed after the first of the year by the announcement yesterday. To me, that is just the first of many.
Bitcoin still seems to swallow up about half the money coming in. Will this drift downward over time...it might. Either way, the money will be so great that it will go higher.
Wow... this is a very interesting post, as a bitcoin lover myself, I've been following the price of bitcoin for some time now, i actually think bitcoin has the possibility of getting to 10000$ per coin, its all only a matter of time... the world has changed a lot since the introduction of bitcoin and cryptocurrencies in general, and i really have high expectations for bitcoin in the nearest future... the hard forks are actually icing on the cake for bitcoin holders, that's because of the free coins they'll get. I really did enjoy reading your post, thank you for sharing.
There were 3 votes and about 30$ on this post. Somebody is really influent
There will be many more :) Thank you for your upvote!
Confident bugger.... :)
Following & Upvoted!
I'm a Technical Analyst counting Elliott Waves and see an Expanded A,B,C flat looming:
I have yet to see one case where these stock predictions hold true here in bitcoin. To me bitcoin is outside of normal stock prediction trends such as cup and handle etc.
Thanksf or visiting my blog! Following and upvoted your comment!
I understand not everyone agrees with the efficacy of Technical Analysis. But for me, TA keeps working for Like these: (check out the cup and handle for CVC at 78% profit!)
Cracking post :)
I too am very confident towards bitcoin at the minute with no negative feelings.
I predict the price to be around 10,000 by early next year.
Let's hope it's more :)
Have a great day to all :)
Is there anyone who is both miner and investor in cryptocurrencies? What would be your advice to someone who is thinking about trying mining instead of investing? Is it even worth it at the moment? (After doing research I made a conclusion that it's better to invest but I still, want to hear from the people who are experienced in both fields. )
Well, I made a fun post about Dragon ball Vegeta forecast bitcoin.
Is just a fun, also realistic.
https://steemit.com/bitcoin/@umbertoraiola/vegeta-speak-about-bitcoin
I will be not surprise to see BTC over 9000 on January 2018
Very good post, I think it is 100% for the bifurcation the current quote of the BTC, although personally I think that if this is maintained this way we have to wait a great fall for after 26, because it is inflating too fast the price, we will see that it is what happens thanks for sharing, spend for my post
https://steemit.com/bitcoin/@rusinho027/bitcoin-exceeds-its-historical-maximum-surpassing-usd-5200-per-unit
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wow that was such surprising for us that how can some one earn $30 in just 6 votes .... nice job bro and pleas upvote my post and help us to earn a little bit plz
img credz: pixabay.com
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You make this very understandable. Thank you! I'm sitting on a BTC since Feb 2014 and I was actually about to sell it a year later. Now I'm glad I didn't. When do you think the time comes to sell, if at all?
Fib retracements are a great tool for crypto. It's one that a lot of traders use so it's a pretty useful tool to use. I predicted this morning that BTC would possibly rise to $5400 and bounce if it didn't break through it completely (it was the first fib level after $5000).
I agree, right observations. Do you think that in late November, have the forks gone, its value goes down again?
Great job! Steemit Community Quality Support is happy support your original and quality post, this brings benefit to Steemit, so it was chosen to be upvote! Thank you for sharing, keep it up!
Thanks for sharing your review and thoughts, especially now, when Bitcoin reached 5k mark. Hardfork is truly an issue that might lower the price of Bitcoin quite hard, however this won't last for long.
I'm new to crypto and still just grasping its potential...
I'm very excited to extend my very small portfolio which consists of litecoin and the free $10 of bitcoin now $13 (after this recent surge) from coinbase.
You too can get $10 free when you click someone's affiliate link and you get $100 or more in crypto. heres my link:
https://www.coinbase.com/join/59bffe8aa66a1d00c0d1d9ab