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Jatsun

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Bitcoin ahead of halving day, I also want to discuss and discuss the current development of bitcoin.
Bitcoin has a good halving day but on the other side, the world economy is in decline.
In my opinion, if this pandemic is not resolved before halving day, it might be bearish on bitcoin, But if this pandemic is over this is good news for bitcoin, and I'm sure it will reach $ 10,000-15,000
#121 - April 11, 2020, 08:49:43 AM

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I do not think this virus will keep people from buying Bitcoin. It is just the trigger that made the markets move. If the virus didn't come along, it would have been something else. The littlest snow ball can turn into an avalanche. So the virus was the trigger. Actually, I think the virus will cause more Bitcoin buying since faith in governments and their policies are lost.

Back in December 2018, I made a prediction that people would move money out of stocks and even Gold/Silver and go into Bitcoin. See post #55 on the Predictions for Bitcoins/altcoins thread. The screenshots there were from weekly and monthly time frames. So they take a long time to fulfill. I probably posted about this in other posts too. We recently saw a big drop in Silver down to the mid-11 Dollar range. Everyone thought this was crazy to think about just a little while ago. We also are seeing the same thing in Stocks. So people are taking their money out of the markets and waiting. Everyone is holding USD and waiting for the storm to clear. This money will eventually go somewhere. The Bitcoin halving is coming up at a great time. Bitcoin was also invented during the last major crisis. If history repeats itself, a lot this money that has been taken out of the markets will flow into Bitcoin. 

With or without a virus, people will always try to make money. So people will speculate and invest. Which can be done online and from home too. I am expecting a flow of money into the Cryptocurrency sector as a whole. Not just Bitcoin, but another bullish alt-coin season too.
#122 - April 11, 2020, 01:32:40 PM

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Resh1969

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A hedge fund called Medallion Funds now has the authority to invest in Bitcoin futures markets. This could cause the btc price to increase sharply.
#123 - April 18, 2020, 04:18:35 PM
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Resh1969

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The bitcoin halving is in 18 days. It would be smart to get as much as you can afford before price skyrockets.
#124 - April 23, 2020, 02:41:21 PM

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We are about 7 days away from the Bitcoin halving. I would like to share my personal opinion on the matter.


I am expecting Bitcoin to fall in the short-term. I think we are headed down to the 7000's again. Here are my reasons why:



  • The Bitcoin halving is predictable. Unless you are someone just learning about Bitcoin for the first time, we all knew it was coming in advance. What this means is that there will be profit taking. While the new money invests into Bitcoin, the "smart money" will be taking profit. This will mean more supply on the market which drives down prices.


  • The institutional investors also knew it was coming in advance. I believe they were accumulating down near 3500-4500. For institutional investors, this move up in such a short amount of time is perfect. They are known to hold on to positions for years for less money. I think a lot of them will also be unloading their Bitcoin at or before the halving. Many institutions are in trouble for other bad investments. Just look what has been happening to the stock markets. They will cash out of Bitcoin to make up the difference or pay off debt.


  • Bitcoin still cannot be used to buy common every day items such as food. Most of the world's population is in panic mode over covid-19. They have important things on their minds like paying the bills and feeding their kids. This is why cash will be strong in times like this. Most specifically the USD.


  • Due to Covid-19 and the government's crazy responses to it, many people around the world have been ordered not to work or have lost their jobs. These people may have wanted to buy Bitcoin before the halving, but just could not. A lot of the bullish pressure this year was from people speculating and buying Bitcoin before the halving came. Many people were not able to invest though. Once the halving event occurs, this will be even less bullish pressure because the anticipation will be over. Even if people get back to work and everything gets back to normal, people will feel as if they missed the chance and are too late.


  • A Bitcoin halving happened in 2016, but the big move up came a year later in 2017. There was also a halving in 2012. I think Bitcoin moved sideways or even down for a while after the 2012 halvening too. So based on history, there is a good chance we will not see a big move up in Bitcoin until much later.


  • Bitcoin is at some major resistance right now. See chart attached.

#125 - May 05, 2020, 05:04:06 PM
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Resh1969

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Quote
A Bitcoin halving happened in 2016, but the big move up came a year later in 2017. There was also a halving in 2012. I think Bitcoin moved sideways or even down for a while after the 2012 halvening too. So based on history, there is a good chance we will not see a big move up in Bitcoin until much later.

But in 2012 and 2016 there was no demand for bitcoin like there is today. Bitcoin ATMs are spreading. Also governments are just printing money non stop which will lead to inflation. People will probably turn to gold and bitcoin. Bitcoin will be preferred since it doesn't need transported.


#126 - May 06, 2020, 12:30:50 AM
« Last Edit: May 06, 2020, 04:03:22 PM by Admin »

Trader Hijrah

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I think in the middle of a pandemic like this people would prefer to hold gold and USD compared to others including bitcoin, because gold and USD are the easiest to use and cash in my opinion. So it's possible that bitcoin in the future will be able to go down along with the current pandemic that doesn't know when it will end. So it is possible for speculators to be a good moment to buy bitcoin in the future at a cheap price.
#127 - May 06, 2020, 01:20:42 AM

Resh1969

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Bitcoin was mentioned on a tv show called "billions" which is a popular series shown on showtime in the USA. This is another example of bitcoin being introduced to the masses.
#128 - May 06, 2020, 12:27:59 PM

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The Bitcoin halving is estimated to happen earlier than expected. It's now estimated to happen on May 11. Miners are updating their hardware and getting ready to make profit even with the lower mining rewards. Miners are also mining as much as they can before the halving occurs too. As a result, the blocks are being solved faster. We could see the halving even before May 11 if this continues. So be ready.

I still believe a big dump will happen very soon because of the reasons I mentioned before. Bitcoin is currently $9500. I expect it to fall to the 7000's soon. I personally will be buying the dip and am still bullish on Bitcoin long-term.
#129 - May 07, 2020, 03:53:28 PM

Resh1969

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The halving is less than two hours away.
#130 - May 11, 2020, 05:14:46 PM

Resh1969

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A bank in Germany called Bitwala will allow their clients to start purchasing bitcoin and holding it with the bank. The bank will provide its fiat and crypto services to 32 European countries, being licensed by SolarisBank AG. They will also pay 4.3% interest on any bitcoin held. This is another example of Bitcoin being introduced to the masses.
#131 - May 14, 2020, 11:50:12 AM

Resh1969

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Today it was reported that 20k CVS and Rite Aid locations will allow customers to buy bitcoin with cash in the USA. Also paypal will supposedly be allowing customers to store bitcoin in their online wallet that they will be coming out with. Also the SEC will be getting a new head soon, which might mean they could be closer to allowing a BTC ETF get approval. If these things end up happening that will definitely make the bitcoin price move alot higher.
#132 - June 23, 2020, 04:31:17 PM

Resh1969

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The country of Venezuela now accepts bitcoin as a payment option to get passports.
#133 - June 25, 2020, 12:18:55 AM

Resh1969

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The bitcoin hashrate hit another all time high of 123 EH/S. This could indicate prices will increase.
#134 - July 08, 2020, 01:07:15 AM

Resh1969

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The bitcoin hashrate hit another all time high of 147 EH/S. This is the total computational power used to mine blocks. 147 EH/S is equal to 147 quintillion or 147 with 18 zeros after it. This is also 10 times the hashrate seen in the 2017 price increase. Generally, price follows the hashrate increase so price will probably increase from here.
#135 - July 14, 2020, 03:13:49 AM
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