Bitcoin Price Prediction   Some analysts refuse to make a Bitcoin price prediction for 2017. They say the “right” words but, when push comes to shove, they don’t give us a concrete

$4,000 Is Still the Bitcoin Price Prediction for 2017

Where is Bitcoin Headed?

Bitcoin Price Prediction   Some analysts refuse to make a Bitcoin price prediction for 2017. They say the “right” words but, when push comes to shove, they don’t give us a concrete

FOREX INVESTORS BUZZ Bitcoin Price Prediction   Some analysts refuse to make a Bitcoin price prediction for 2017. They say the “right” words but, when push comes to shove, they don’t give us a concrete Bitcoin price target. I suspect it is because they don’t understand the technology. I made that same mistake once.

I openly laughed at my colleague who made a Bitcoin price prediction of $4,000 in 2017.

n my defense, I had been focusing on microchip stocks at the time. My research yielded some incredible winners for our 21st Century Technology Profits newsletter, so I was pretty happy.

It’s embarrassing to admit, but Patrick was right and I was wrong. Bitcoin prices were indeed poised for a breakout. What with China’s capital controls, India’s demonetization, and the growth of initial coin offerings (ICOs), it seemed like a no-brainer.

History ended up proving Patrick right. BTC prices more than doubled over the following months.



Bitcoin Price Prediction

 

bitcoin1year

They climbed past $1,000, $2,000, and even $3,000. A minor retracement followed this pattern, but those who invested in Bitcoin last year still got rich.

So when I say Bitcoin can hit $4,000 before the end of 2017, know that I didn’t come to that conclusion easily. It wasn’t confirming my prior beliefs. It was in spite of my priors. 

Bitcoin Price Prediction in 2017 Challenged by Ethereum

Despite these tailwinds, some people reject our Bitcoin price target. They think it’s impossible for BTC prices to keep rising, especially as new cryptocurrencies challenge its dominance.

We all know what they’re talking about. There may be more than 800 cryptocurrencies in existence (at the time of this writing), but only one of them poses a significant threat to our Bitcoin price prediction.

I speak, of course, about Ethereum.

Ethereum is more of a platform than a currency, however. It offers innovative features like smart contracts, which is something that Bitcoin simply does not have. It is also perceived as an upgraded version of Bitcoin, which raises the question: Is this bad news for Bitcoin’s worth?

Additional Notes: Bitcoin Volatility and SegWit Deadline

That said, I don’t want to give you the impression that Bitcoin prices will have a clear path to $4,000. There is always risk, especially when it comes to huge moneymakers like Bitcoin.

For instance, Bitcoin’s main short-term risk is SegWit. It is the only factor I see affecting our Bitcoin price prediction in the next few months.

Before I explain what in the world “SegWit” means, you should know that Bitcoin transactions take forever. There is a silly limit embedded in the original code which limits the amount of data in each block.

 

|Chart | Calendar   | TRADE NOW | FORCAST | cryptocurrency 

Market Quotes by TradingView

Like up on FACEBOOK


logo



Prices of both Ethereum and Bitcoin slumped on Tuesday amid investor fears that both cryptocurrencies were poised for steeper declines.

ETHEREUM AND BITCOIN ON TRACK FOR WEEKLY LOSS

ETHEREUM AND BITCOIN ON TRACK FOR WEEKLY LOSS

 The sell-off in both Bitcoin and Ethereum continued Friday, as investors appeared reluctant to take advantage of the dip in both cryptocurrencies

FOREX INVESTORS BUZZ     The sell-off in both Bitcoin and Ethereum continued Friday, as investors appeared reluctant to take advantage of the dip in both cryptocurrencies amid bearish sentiment.

On the U.S.-based GDAX exchange, BTC/USD fell to $2199.4, down $128.1.6 or 5.51%.

Bitcoin dipped below $2,200 for the first time in nearly four weeks, after analysts poured cold water on the future prospect of the digital currency amid a lack of demand from merchants willing to accept bitcoin as a form of payment.



Bitcoin and Ethereum

 

“Bitcoin owners are reluctant to use the cryptocurrency given its rate of appreciation,” analysts at Morgan Stately wrote in report. “Bitcoin acceptance is virtually zero and shrinking,”

Ethereum followed Bitcoin lower, falling to 195.40, down 6.21%. The second best capitalized digital currency remained on track to post a fourth-straight weekly loss.

|Chart | Calendar   | TRADE NOW | FORCAST | cryptocurrency 

Market Quotes by TradingView

Like up on FACEBOOK


logo



Bitcoin Split  Anyone interested in cryptocurrencies has seen strange terms like “Bitcoin split,” “BIP 148 UASF Bitcoin,” and “Bitcoin SegWit.”

Bitcoin Split: What is Bitcoin Segwit?

Why Bitcoin Prices Are so Volatile

Bitcoin Split  Anyone interested in cryptocurrencies has seen strange terms like “Bitcoin split,” “BIP 148 UASF Bitcoin,” and “Bitcoin SegWit.”

FOREX INVESTORS BUZZ Bitcoin Split  Anyone interested in cryptocurrencies has seen strange terms like “Bitcoin split,” “BIP 148 UASF Bitcoin,” and “Bitcoin SegWit.” What do they mean? More importantly, are they connected to the sudden increase in Bitcoin volatility?

The short answer to the second question is yes. They are related to Bitcoin volatility.

What is Bitcoin SegWit?

The proposed change is called “Segregated Witness” (SegWit). It tweaks Bitcoin’s code to allow more data in each block, thus making the platform faster. Transfer times would be a fraction of what they are right now.

It’s like if you came to a river, and there was a ferry crossing to the other side. For some reason or another, the ferry only takes TWO people at a time. It has space for FOUR, but it’s only taking two. Obviously a traffic jam starts to build on this side of the river.



Bitcoin Split

 

Now imagine that someone yells out “Hey! Why don’t you take four people at a time! Then we’ll all get across faster!”

Why is August 1 Important for Bitcoin?

The deadline for SegWit adoption is August 1, 2017. If the community of Bitcoin developers and miners does not reach an agreement by that point, the currency will likely split.

This doomsday scenario is called a “user activated soft fork” (UASF). It would cause major confusion in Bitcoin markets, especially since Coinbase and other exchanges have not explained how they would handle a Bitcoin split.

You’ll also see the term “UASF” lumped in with “BIP 148” because that is the protocol that pushes it into action.

This doomsday scenario is called a “user activated soft fork” (UASF). It would cause major confusion in Bitcoin markets, especially since Coinbase and other exchanges have not explained how they would handle a Bitcoin split.

You’ll also see the term “UASF” lumped in with “BIP 148” because that is the protocol that pushes it into action.

Should You Worry About Bitcoin August 1 Split?

Oddly enough, I’m not that worried about the August 1 deadline. I know it injected a lot of volatility into Bitcoin prices (which scares investors), but the data is optimistic.

The number to watch is the percentage of blocks signalling support for Bitcoin SegWit.

|Chart | Calendar   | TRADE NOW | FORCAST | cryptocurrency 

Market Quotes by TradingView

Like up on FACEBOOK


logo



BITCOIN, ETHEREUM PUSH HIGHER Prices of Bitcoin and Ethereum were higher on Thursday, but struggled to make headway

BITCOIN, ETHEREUM PUSH HIGHER, STRUGGLE TO MAKE HEADWAY

BITCOIN, ETHEREUM PUSH HIGHER, STRUGGLE TO MAKE HEADWAY

BITCOIN, ETHEREUM PUSH HIGHER Prices of Bitcoin and Ethereum were higher on Thursday, but struggled to make headway

FOREX INVETORS BUZZ  BITCOIN, ETHEREUM PUSH HIGHER Prices of Bitcoin and Ethereum were higher on Thursday, but struggled to make headway amid persistent concerns that cryptocurrencies are facing a period of correction after recent record rallies.

Bitcoin rose $38.6 or 1.65% on the U.S.-based GDAX exchange operated by Coinbase to $2,376.0 by 05.17 AM ET.

Bitcoin has struggled to regain momentum since hitting a peak of $3,000 in June.

Analysts at Morgan Stanley on Wednesday warned that rather than buying Bitcoin, owners need to be spending it.

“Bitcoin owners are reluctant to use the cryptocurrency given its rate of appreciation,” the team of analysts led by James Faucette wrote in a report.

“Bitcoin acceptance is virtually zero and shrinking,” the team warned.



BITCOIN, ETHEREUM PUSH HIGHER

FOREX INVETORS BUZZ

“The ecosystem has focused more on value speculation rather than the foot leather-eating work of increasing acceptance,” the team wrote, adding that this focus has made it “way easier to trade speculatively than convince new merchants to accept the cryptocurrency.”

The report comes at a time when many analysts are warning of a bubble in cryptocurrencies which have hit all-time highs this year.

Meanwhile, Ethereum ticked up to $209.3, up $4.32 or 2.16% for the day.

Ethereum notched its third weekly loss in a row last week and prices are down almost 55% since peaking at an all-time high close to the $400-level in mid-June.

Other cryptocurrencies such as Litecoin and Ripple were mixed.

|Chart | Calendar   | TRADE NOW | FORCAST | cryptocurrency 

Market Quotes by TradingView

Like up on FACEBOOK


logo



Prices of both Ethereum and Bitcoin slumped on Tuesday amid investor fears that both cryptocurrencies were poised for steeper declines.

ETHEREUM AND BITCOIN STRUGGLE TO PARE LOSSES AMID CORRECTION JITTERS

ETHEREUM AND BITCOIN STRUGGLE TO PARE LOSSES AMID CORRECTION JITTERS

Prices of both Ethereum and Bitcoin slumped on Tuesday amid investor fears that both cryptocurrencies were poised for steeper declines.

FOREX INVESTORS Prices of both Ethereum and Bitcoin slumped on Tuesday amid investor fears that both cryptocurrencies were poised for steeper declines.

On the U.S.-based GDAX exchange, BTC/USD fell to $2,347.3, down $52.1 or 2.16%. The popular digital currency has drifted lower from its peak of $3,000 achieved in June.



BITCOIN STRUGGLE

FOREX INVESTORS

Meanwhile, Ethereum mirrored bitcoin’s move lower, falling to $193.61, down 10.15%. Ethereum traded below $200 for the first time since May 30.

Ethereum market capitalization has slumped in recent sessions, falling to $18 billion, well below bitcoin’s $38 billion, dashing investor hopes that the Ehtereum would be alternative cryptocurrency that usurps bitcoin as the largest and best capitalized blockchain – a phenomenon referred to as “the flippening”.

|Chart | Calendar   | TRADE NOW | FORCAST | cryptocurrency 

Market Quotes by TradingView

Like up on FACEBOOK


logo



Cannabis Industry Bitcoin's price this year has soared over 290% and last Friday, the price of this cryptocurrency sat at one point $2,544.

The Relationship Between the Cannabis Industry and the Bitcoin Sector

Like up on FACEBOOK


logo



Pharmaceuticals  stocks ( CGC)  ( JNJ ) ( MRK ) ( GSK ) ( celg )  ( gild )



 Bitcoin prices are not known for their stability, which is odd, considering that the currency’s end goal is to “replace fiat money.”

Bitcoin Volatility: Why the Bitcoin Prices Are So Unstable

Why Is Bitcoin Volatile?

 Bitcoin prices are not known for their stability, which is odd, considering that the currency’s end goal is to “replace fiat money.”

FOREX INVESTORS  Bitcoin prices are not known for their stability, which is odd, considering that the currency’s end goal is to “replace fiat money.” That goal is likely to go unfulfilled if Bitcoin volatility remains this high, because no one holds onto cash that can drop 10% in a single day.

If you are unfamiliar with Bitcoin prices, then you probably think there is no rhyme or reason to the current volatility. The cryptocurrency websites don’t help either. They just keep using words like “Segwit2x” and “USAF” as if everyone is supposed to understand them.

It is all very confusing. But this confusion is unnecessary—the answers are well-known in the Bitcoin community. But because most of the community is used to communicating in shorthand, they have trouble translating for non-experts.

1. An Experiment to Speed Up Bitcoin Transactions

Transferring Bitcoin sounds great in theory, but as more and more people start to send money, there are real-world problems that arise. One of them is speed.

Under the current regime, Bitcoin transactions take forever and a day (or two hours, which is just as bad). To put this in perspective, imagine having to wait two hours at KFC.

At present, it’s just a theory. Hence the violent cha-cha in Bitcoin prices starting around the end of May.




Bitcoin prices

 

bitcoin price chart

 

2. Big Money Is Moving Between Bitcoin and Other Cryptocurrencies

Have you heard of Ethereum? What about Ripple? Litecoin? Dash? Monero?

These are imitations that claim to have improved on the core concepts in Bitcoin. But in order to buy most of these cryptocurrencies, you still have to go through Bitcoin first.

Here’s how it works: You buy Bitcoin, convert it to Ether (the currency of Ethereum), then convert Ether into some other token. The volume of these transactions has risen sharply in recent months, because of a phenomenon called “initial coin offerings.”

3. Plain Old Fear

Earlier this month, hackers stole data and money from one of the largest Bitcoin exchanges in the world. Nearly 32,000 customers of the Bithumb exchange were affected, at least that is according to a South Korean news wire service.

This isn’t the first time that hackers stole Bitcoin from an exchange. It is pretty much impossible to hack a Bitcoin in transit, but exchanges have proved vulnerable. Of course that is going to scare off some investors.

Should You Be Scared of Bitcoin Volatility?

Consider your risk tolerance before investing in Bitcoin. If you are someone who likes knowing exactly how much money is in their trading portfolio, maybe this investment isn’t for you. The volatility is far from over, you see.

But if you can truly handle the perils of high-risk investing, then maybe you won’t mind seeing a 10% drop. (So long as there is a 20% jump to make up for it, of course!)

|Chart | Calendar   | TRADE NOW | FORCAST | cryptocurrency 

Market Quotes by TradingView

Like up on FACEBOOK


logo



 Bitcoin and Ethereum pared losses on Wednesday, after falling to session lows amid growing investor fears of further selling pressure in both cryptocurrencies.

BITCOIN AND ETHEREUM TURN POSITIVE BUT REMAIN UNDER PRESSURE

BITCOIN AND ETHEREUM TURN POSITIVE BUT REMAIN UNDER PRESSURE

 Bitcoin and Ethereum pared losses on Wednesday, after falling to session lows amid growing investor fears of further selling pressure in both cryptocurrencies.

FOREX INVESTORS    Bitcoin and Ethereum pared losses on Wednesday, after falling to session lows amid growing investor fears of further selling pressure in both cryptocurrencies.

On the U.S.-based GDAX exchange, BTC/USD rose to $2,605.1, up $34.6, or 1.35% while Ethereum added 1.99% to $272.81.

 

 




Bitcoin and Ethereum

 

Growing investor fears that bitcoin could come under further selling pressure have continued to dominate trading moves in the digital currency since it fell from its peak of $,3000 achieved in June, as analysts warn that a correction is likely before a new peak is established.

Sheba Jafari, the head of technical strategy at Goldman Sachs, said last week that a correction period in bitcoin “shouldn’t go much further than 1,857” but added that “there’s potential to extend as far as 3,915”.

|Chart | Calendar   | TRADE NOW | FORCAST | cryptocurrency 

Market Quotes by TradingView

Like up on FACEBOOK


logo




Buz Investors Gold vs Bitcoin Bitcoin prices have officially outpaced gold prices per ounce for the first time in the currency’s history. With the bitcoin price in 2017 trading above gold prices, you have a day that cryptocurrency

BTCUSD Bitcoin US Dollar Fell -53.6526 (-2.14%) on Friday June 30

BTCUSD Bitcoin US Dollar Fell -53.6526 (-2.14%) on Friday June 30



BTCUSD by m2tts2001 on TradingView.com


BUZ INVESTOR  Bitcoin US Dollar Fell  Bitcoin is flashing major signs that it’s tired from the climb, creating a head and shoulders pattern visible on its 4-hour time frame. Price is still in the process of completing its right shoulder and is on its way to test the neckline around the $2300 level.

A break below the neckline support could yield around $700 in losses as this is the height of the head and shoulders pattern. The 100 SMA is attempting to cross below the longer-term 200 SMA to confirm a pickup in selling momentum. However, if price still bounces off $2300, these moving averages could hold as dynamic resistance levels.

Stochastic is still pointing down to confirm that bearish pressure is in play. RSI is also heading south so bitcoin could follow suit. Note, though, that both oscillators are already dipping into oversold levels to indicate that sellers may be feeling tired. In that case, buyers could take advantage and lead to a bounce.




Bitcoin US Dollar Fell

Look at daily chart . Price trapped between downtrend and uptrend line. If price could breaks the downtrend line we can hope price rises to 2800$ and maybe after that to 3600$ . Remember just when price cross over 2630$ you can buy . But if uptrend line breaks, then I hope price drop to 2000$ level and then maybe to 1550$. The important point is slope of downtrend and uptrend line, we can see downtrend line has higher slope than uptrend line and In my opinion price goes to 2000$.

|Chart | Calendar   | TRADE NOW | FORCAST | cryptocurrency 

Market Quotes by TradingView

Like up on FACEBOOK


logo