Bitcoin price prediction

[Bitboyoo]

With what appears to be the start of a bull run what price do people see bitcoin hitting this Summer or by year end

 

[trog100]

its a tad early to be predicting anything..

trog

 

[dgianstefani]

It will definitely be higher or even lower than what it currently is - 100% prediction.

Don't forget to buy high and sell low.

 

[Bitboyoo]

It will definitely be higher or even lower than what it currently is - 100% prediction.

Don't forget to buy high and sell low.

Lol fair enough

 

[Vayra86]

Anything that happens with Bitcoin now is people abandoning ship. Crypto has not and will never evolve to anything beyond its current speculative status. BTC won't ever be a proper currency.

The community is still looking for a few billion worth of lost value, and until that storm has settled, investing isn't exactly a good idea regardless of its value. The bubble will burst further.

And it will keep bursting until the market has found some way of self-regulation people can actually trust in. Spoiler: that ain't happening. Crypto and its community has proven perfectly capable of imploding its own bullshit pyramid. Regulation is a nuisance to them.

 

[luches]

The first misconception is that this is the start of a bull run. The current surge is just another fake pump like the previous ones. First there is barely any volume to support it (We barely even break 30bn, while an actual bull run sees +70bn volume atleast), so its whale just trading to jack up the prices. 2nd other than the positive CPI we haven't had any other strong stimuli to warrant that big of a pump and the price has overshoot way too high. Other economy factors are still in red and according to BOM inflation gonna pick up in US again thx to commodity price increase and Chinese market openning up again resulting inan increase in demand for oil etc. Anyway bottom line this is another bull trap and once it reaches the target prices the whales gonna let it free fall and cash out and probably back to 15k. the true bull run wont happen in 2023.

 

[bug]

With what appears to be the start of a bull run what price do people see bitcoin hitting this Summer or by year end

Ask ChatGPT?

 

[kilo]

$10,000 USD or lower by end of summer. with any luck, when the next FOMC, it'll be a 50 bp rise and tank the bubble the young folks think it normal market movement. Sell now and buy yourself a nice ... anything else. Perhaps a used xeon or a sandwich.

Edit: removed angry part

 

[las]

Its a lottery. Just go to the casino instead.

 

[Massdeth]

The first misconception is that this is the start of a bull run. The current surge is just another fake pump like the previous ones. First there is barely any volume to support it (We barely even break 30bn, while an actual bull run sees +70bn volume atleast), so its whale just trading to jack up the prices. 2nd other than the positive CPI we haven't had any other strong stimuli to warrant that big of a pump and the price has overshoot way too high. Other economy factors are still in red and according to BOM inflation gonna pick up in US again thx to commodity price increase and Chinese market openning up again resulting inan increase in demand for oil etc. Anyway bottom line this is another bull trap and once it reaches the target prices the whales gonna let it free fall and cash out and probably back to 15k. the true bull run wont happen in 2023.

+1..... and after they are done pumping, first youll see the wallet theft or scam THEN theyll crash it like usual. I think the better bet is how many new services for it will pop up that they will claim are the most safe thing ever, using quantum computers to secure your stuff etc... and then they get hacked anyway. The scams are so obvious anymore its disgusting.

 

[Dr. Dro]

$10,000 USD or lower by end of summer. with any luck, when the next FOMC, it'll be a 50 bp rise and tank the bubble the young folks think it normal market movement. Sell now and buy yourself a nice ... anything else. Perhaps a used xeon or a sandwich.

P.S.: it really irks me when miners come to a primarily gaming hw site and forget they screwed us on GPU prices for like 6 of the last 10 years.

I mean, TPU is technically a tech forum and this post is on the appropriate category. Despite my solid belief that cryptocurrency and blockchain are technologies which offer no benefit to mankind, gamers and/or techies being angry shouldn't have much of a say in this case, and this includes people such as myself (to whom both apply), no matter my own (extremely negative) personal feelings about it.

+1..... and after they are done pumping, first youll see the wallet theft or scam THEN theyll crash it like usual. I think the better bet is how many new services for it will pop up that they will claim are the most safe thing ever, using quantum computers to secure your stuff etc... and then they get hacked anyway. The scams are so obvious anymore its disgusting.

I'd argue most of these exchanges were never really hacked. FTX proved that, except that their administrators were younger, inexperienced and had bold ambitions.

The money from FTX was just being siphoned into its operator's girlfriend's scam company, and then used for political favors and personal spending. Classic cases of fraud... everywhere you look around these high-profile crashed exchanges, you'll find luxury cars, yachts, lavish residences... because that's what crypto has always been about, money laundering and bypassing regulations against predatory speculation. The more governments track and tax crypto, the more the ponzi will hurt, and the lower the unitary value of each generated token will become.

 

[bug]

I mean, TPU is technically a tech forum and this post is on the appropriate category. Despite my solid belief that cryptocurrency and blockchain are technologies which offer no benefit to mankind, gamers and/or techies being angry shouldn't have much of a say in this case, and this includes people such as myself (to whom both apply), no matter my own (extremely negative) personal feelings about it.

Do not confuse blockchain with crypto. Blockchain is basically a ledger that cannot be tempered with (unless you control more than half of the peers).

There are many interesting things you can do with blockchain. For example electronic voting, which could one day mean almost ad-hoc referendums are possible and you get to vote straight from your mobile phone. I mean, sure, we have to test the crap out of it before we go there. But it carries the potential to significantly impact our lives sometime in the future.
Also, contrary to what many believe, blockchain does not provide anonymity. It provides full-traceability instead (because you cannot undo a transaction, only append a transaction in the opposite direction, so both will remain on record). Integrate that with banking and you significantly curb money laundering.

 

[kilo]

I mean, TPU is technically a tech forum and this post is on the appropriate category. Despite my solid belief that cryptocurrency and blockchain are technologies which offer no benefit to mankind, gamers and/or techies being angry shouldn't have much of a say in this case, and this includes people such as myself (to whom both apply), no matter my own (extremely negative) personal feelings about it.

You are correct. I edited out the angry part. My apologies to OP for the lack of temperance.

I was serious about BTC being $10k USD and under. BTC started mirroring other assets (tech stocks) during the pandemic and I don't foresee this getting better as the Fed keeps hammering down on inflation.

 

[Dr. Dro]

Do not confuse blockchain with crypto. Blockchain is basically a ledger that cannot be tempered with (unless you control more than half of the peers).

There are many interesting things you can do with blockchain. For example electronic voting, which could one day mean almost ad-hoc referendums are possible and you get to vote straight from your mobile phone. I mean, sure, we have to test the crap out of it before we go there. But it carries the potential to significantly impact our lives sometime in the future.
Also, contrary to what many believe, blockchain does not provide anonymity. It provides full-traceability instead (because you cannot undo a transaction, only append a transaction in the opposite direction, so both will remain on record). Integrate that with banking and you significantly curb money laundering.

I wasn't confusing, I actually fully intended to say what I did. I was never sold on blockchain technology, it would seem that all it can do can be done by another, safer, more private and more efficient technology. You make a good case for it in this specific situation, but it certainly does require more a greater field test to fully understand its impact on the economy.

 

[bug]

I wasn't confusing, I actually fully intended to say what I did. I was never sold on blockchain technology, it would seem that all it can do can be done by another, safer, more private and more efficient technology.

Such as?

You make a good case for it in this specific situation, but it certainly does require more a greater field test to fully understand its impact on the economy.

It's not about the impact (nobody guessed the impact of the Internet or the web at first), it's about coming up with something more useful than "look, I made my own currency" (though that in itself is a fantastic proving ground), it's about proving that it's safe and up to the task, before applying it to more critical domains.

 

[Gahl1k]

$10,512 by August 31.

 

[ZenZimZaliben]

The big drop was because of FTX and the run up is because everyone realized FTX had nothing to do with the top currencies like BTC, ETH. A price target of 30k seems reasonable but honestly I would rather it would hit 25k and just hold for a long time.

 

[Vya Domus]

$10,512 by August 31.

Why not $10,511 or $10,513 ? Why that number specifically ?

 

[Dr. Dro]

The big drop was because of FTX and the run up is because everyone realized FTX had nothing to do with the top currencies like BTC, ETH. A price target of 30k seems reasonable but honestly I would rather it would hit 25k and just hold for a long time.

I don't think the big drop was because of FTX, but rather because during the pandemic a huge amount of people bought into the ponzi to see if they could make a buck. Once that subsided, a lot of people began to sell as they returned to their daily lives, jobs and regular ways to make an income.

FTX just helped further rue the value of BTC, but it isn't the first and it will not be the last exchange to run away with its customers' "assets". BTC at 30K seems hilariously far fetched to me, observing post-lockdown trends, it should stabilize between 8 and 11K, which is already way too much and a value that is now basically sustained by crypto whales. Of course, given the fomo effect and people thinking they can chip one last time on the ponzi will always keep it going a little above its optimal value, which is the main attraction to begin with. Alright, give it 16-18k longer term.

The valuation that took place within the last week is well within the general variance on this "coin", it might just mean that someone big is preparing to make a move. Pay attention to what Elon Musk is about to do within the next few weeks.

Such as?

The problem with blockchain isn't what it can't do, but rather it's what it can do that other things can not.

Which makes answering your question so convoluted, I could probably just lay this hilariously accurate flowchart here:

 

[Bitboyoo]

Ask ChatGPT?

Waiting for the next update

$10,512 by August 31.

Will check back in with you then

 

[kilo]

@Bitboyoo What are your thoughts on the prices this year?

 

[R-T-B]

Blockchain has legit uses that can't be filled by other things, make no mistake. But it's been overhyped to the moon. Make no mistake on that as well.

It's not even really a new tech. If there were miracle uses for it we'd have thought of them before magic internet money.

 

[Bitboyoo]

@Bitboyoo What are your thoughts on the prices this year?

Ranging from $25k to a high of I'm tempted to say $38k max