The bitcoin price is taking off!

[BitcoinXio]

Currently at ~$434 USD!


source: http://bitcoinx.io/price/

[iFixBTCmemoryIssues]

Hopefully it will be in the $600 - $800 USD range by the end of 2016

[BitcoinXio]

Hopefully it will be in the $600 - $800 USD range by the end of 2016

Would be nice to hit that by the end of Q2-2016, right before the great Bitcoin Halving of 2016!

[BitcoinGuides]

Definitely looking bullish. I think the public sentiment has changed quite a bit in the past few months. I am unsure of the next two weeks but would be surprised if we didn't see $600 coins by the end of January.

[arnoudk]

Definitely looking bullish. I think the public sentiment has changed quite a bit in the past few months. I am unsure of the next two weeks but would be surprised if we didn't see $600 coins by the end of January.

I hope so

What do you base your estimate on? And why $600?

I see a lot of positive sentiment in the media and that seems to drive prices historically.

I also see a lot of investment in the bitcoin space and that indicates to me that the price is either undervalued now or was overvalued before this investment. My gut feeling (yes quite scientific) says it is the former.

Just wondering what the main indicators are for you.

[BitcoinGuides]

I don't do traditional TA so take all this with a grain of salt.

I have several online funnels that are well tracked with analytics showing a vast improvement in conversion rates in the past few months. It is insane how well my data correlates with exchange volume & price action. It is so close that I have started using my own conversion data to judge public sentiment since I can see the new money flying into the bitcoin ecosystem.

My timeline is based on the idea that for the next two weeks the general public will be on holiday, with family, and probably won't dive into bitcoin this month but they will see bitcoin in the news and start making accounts on exchanges. Come January when everyone is back into their grind, they will fund their accounts and start trading.

My price estimate is based mostly on China. During the western holidays they will have total control over the price action, and with CNY in this shitter they will continue to move assets into bitcoin and create volume/volatility. China having tetraphobia leads me to believe they will dump the price hard as it approaches 4000 CNY, which is roughly $615 USD.

A western new money rally in January could blow us through their superstitious barrier into the $600s, maybe right up thru to 5000 CNY or $775.

[LiteCoinGuy]

typical rally at the end of each year / in the beginning of each year

[BitcoinXio]

typical rally at the end of each year / in the beginning of each year

Whatever the reason, I'm not complaining about the rally!

[Vaultoro]

typical rally at the end of each year / in the beginning of each year

Whatever the reason, I'm not complaining about the rally!

Yeah the rally is great, when we used to have the rallies to 30 bucks back in the day, after the pop the consolidation phase length was relative to the rally height. The higher the price the longer the consolidation. From the last 1200 we have had 2 years of down and sideways action. The time is about right for the next bloom. We have seen massive real world value added to the network and so bitcoin is way more useful now than it was.

We are also seeing more volume in the bitcoin gold pair on vaultoro so it's great seeing people take profits in another private asset backed by backed without going back to fiat.

Good times ahead for us all.

[Windowly]

And now it's going down again

[arnoudk]

Yes that is to be expected I think. The price has been moving sideways for a bit now and then often speculators will sell.

But it is still up 30% from a month ago.

I would not be surprised if it goes down a bit more from here. If you are a trader you can make good money riding these waves. I am not, so I just ignore it. I don't have more bitcoin than I would be able to lose (although of course I would rather keep it and see it appreciate in value). I look at the fundamentals and based on those I will "hodl" (incl using them for purchases).

[BitcoinGuides]

New money flying in this week. I think this dip is temporary, I could see another run to 500 this month.

[Ink Addicted]

personaly I would prefer an average BTC price increase of 0.1% a day without big spikes over this fast rising and falling price. That would put the BTC price around $2000 somewhere start of 2020.

(yep, I am a miner not a trader. lol. I suck at trading)