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| Heady kitchen chad | 05/28/18 |
| shaky offensive candlestick maker | 05/28/18 |
| Heady kitchen chad | 05/28/18 |
| boyish carmine boistinker church building | 05/28/18 |
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Date: May 28th, 2018 11:17 AM Author: Heady kitchen chad Futures trading will continue to shrink the trading range for all coins. In the short term, BTC will settle in around $8K. Traders will short at 8.5K and buy at 7.5K.
By year end, after months of price stability, more and more e-commerce sites will begin to adopt cryptocurrency as a payment option. Specifically, companies that can offer unique, digital products/services not found anywhere else.
In 2019, the market will price in the increased usage/demand driving BTC price above 10K. |
Date: May 28th, 2018 11:57 AM Author: shaky offensive candlestick maker almost everything here assumes away questions that need to be answered. why exactly will notoriously volatile bitcoin maintain an arbitrary price range? just because it’s maintained it for a couple weeks?
why exactly will it become more widely adopted? i think it’s still a solution desperately in search of a problem. You can recite issues raised by neckbeards that couldn’t pass finance 100, but noone else gives a shit
why does wider adoption as a means of exchange = higher price (assuming this even happens)? by this logic the us dollar is the GOAT investment asset
most importantly: i thought bitcoin had nowhere to go but up bro? i don’t think i can predict the price of this highly manipulated bullshit, but i don’t think anyone else can either |
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Date: May 28th, 2018 12:55 PM Author: Heady kitchen chad My response, prefaced with, I have no idea what's actually going to happen:
Why exactly will notoriously volatile bitcoin maintain an arbitrary price range?
Never before has futures trading offered the ability for people/entities (specifically, large institutional investors) to make money off BTC going down in price. Why would that not have the effect of creating more difficult to break price ceilings? On the flip side, technicals/historical performance make it safe to go long at a certain point...From a relative perspective, which is essentially how P/E ratios are used, BTC price is not arbitrary. What's the difference between owning Amazon at 20 or 30 times earnings besides speculation about how much more efficiently drones can deliver packages?
why exactly will it become more widely adopted?
Because storing data in massive, centralized systems gives away a fundamental element of privacy and creates massive distrust in society. One only has to look at Facebook's recent problems to see the beginnings of backlash to corporations as central handlers of data.
Once data is stored in a decentralized way and transactions are recorded using blockchain technology, then it makes sense to make another leap in thought to using cryptocurrency payment systems on top of deceentralized blockchain transactions.
Why does wider adoption as a means of exchange = higher price (assuming this even happens)?
This is based on the way cryptocurrency price fluctuations have occurred historically. If the market perceives more demand, price can go higher. Sure, no one knows exactly how high, but as long as the market is on the same page that that's a buy signal, price moves higher. Perhaps over time some measurement is developed that accurately describes demand/usage. We already see this now when traders point to "fundamentals" like transaction numbers increasing.
I thought bitcoin had nowhere to go but up bro?
I think it's going up past 20K in the next 2-3 years. But I think futures will have the effect of creating more difficult to break ceilings. |
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Date: May 28th, 2018 2:11 PM Author: boyish carmine boistinker church building The OP's hypothesis is persuasive
I expect though that despite the weight of the futures, BTC will still manage to regain momentum and surpass $20k by the end of the year. $20k was a plausible price level in January, and will remain a realistic target for the next round of FOMO. |