[2018-11-28] Bitcoin Price: Almost $10,000 Now, What's Next?

[Vladar49]

Reaching all-time highs every day is not surprising anymore. It is not a rollercoaster and not simply an upsurge. It is a hyperjump.

According to Mark Dukas, Bitcoin and Blockchain Consultant, and cryptocurrency trader at BitcoinSmartMoney.com, “this week's trend of Bitcoin blowing through all-time highs continues. The Bitstamp chart shows Bitcoins price reaching $9,721 before taking its first breather. The amount of volume on the move up to $9,700 was higher than average volume over the past few days. As a trader, this legitimizes the price move up.”

As to the possible Bitcoin price change in the future, Mark Dukas shared his opinion with Coinidol:

“From a technical analyst view, Bitcoin's mid-term price support on the 720 min chart (2 bars per day) is currently at $7,431.00. New resistance is now $9,721 and price support sits at $5,555.00. Look for another small push down before prices takes off through $10,000 USD. Be sure to check out volume moving the price to see the legs this next move has. A mind-blowing number came out of the Coinbase camp: 33,000 new users every day are signing up. The amount of Bitcoin mined per day: 1,800. Math and numbers don't lie. Look for $10,000 plus and cryptocurrency market cap as a whole to reach half a trillion dollars in 2018.”

The full article: https://coinidol.com/bitcoin-price-analysis/

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[bitcoincrazy]

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[Vladar49]

Bitcoin Price is Exceeding All Expectations: It’s Over $11,000 Now

It seems the market has gone mad. Bitcoin is surging further, reaching all-time highs every day. However, despite such an overwhelmingly bullish uptrend, there are high chances of a significant correction.

As of Wednesday, November 29, Bitcoin is traded at a rate of over $11,000. In the morning, CoinMarketCap showed the price at $11,082. The uptrend exceeded all expectations, having hit the $11,000 threshold far earlier than was anticipated.

Some experts anticipate an even more significant bullish trend. Billionaire hedge fund legend and former Fortress executive, Mike Novogratz, thinks BTC will hit as much as $40,000 by mid-2018 due to a large number of institutional investors entering the market. He stated on CNBC’s Fast Money:

“There’s a big wave of money coming, not just here but all around the world. What’s different about these coins than other commodities … there is no supply response here. So it’s a speculator’s dream in that as buying happens there’s no new supply response that comes up. So every price move gets exaggerated. It’s going to get exaggerated on the way up. There will be 50 percent corrections. It will get exaggerated on the way down.”

https://coinidol.com/bitcoin-price-is-e ... ectations/

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[Keron]

Yes, it's a rapid growth. It broke 13k already. It's interesting to see what happens next. Is it going to go down or under correction?

[Book of Ra]

I guess we are all on the same boat, waiting to see what happens next with Bitcoin

[bnm123]

I think the tax effects will play into the answer to this question , since the IRS now classifies cryptocurrencies as "property." I found this paper helpful for understanding the tax implications/issues: https://scholarship.law.duke.edu/dltr/vol16/iss1/1/. Ultimately, any gains may be reduced by taxes, so the "reward" is going to be limited, thus potentially making the risk not worth taking.

[alfarsl]

If you've had a chance to buy it cheap and you didn't, it's a shame. It's happened to me.

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[OneChain]

As they used to say - easy come, easy go.

[BlockTechnology]

There will be another growth in bitcoin and the rest of the altcoins at the spring of 2018

[coinmaster]

I disagree with the first sentences a little bit. BTC price will always remain surprising (at least for me). Sooo, I am crossing my fingers and waiting for it to rise up, but this time to the moon!

[Book of Ra]

It's really hard to see what's next at this stage with Bitcoin, even the experts predictions all turned out to be wrong.

[RichardMartin]

Thought everyone might enjoy this.