Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: rasangaya on June 02, 2020, 02:33:47 AM
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Bitcoin Price Currently Overvalued, According to This Crucial Trend
(https://i.imgur.com/Ui4i0pr.jpg)
Bitcoin traded sideways for the majority of May and has been unable to break the crucial $10,000 level a few times. However, overall, since the crash on March 12, the digital asset has been trading in a significant bull run going from a low of $3,700 to a peak of $10,050.
Even after all the sideways trading and rejections, Bitcoin is still currently trading at $9,560. The daily trading volume has been dropping significantly for the past month and it is on average, 3 times lower now than at the beginning of May.
However, when it comes to Bitcoin options, the open interest has seen all-time highs during May showing a clear interest in Bitcoin.
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Bitcoin prices dropped from $ 9,792 to $ 9,495 at the beginning of Friday (05/15). Price movements go up losing energy as they approach the psychological level of $ 10,000. This might mean that the Bitcoin trend is rising while not yet having the momentum needed to break the important resistance (upper limit) at $ 10,025, which also has frustrated the previous two gains.
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indeed at this time the price of bitcoin has risen very high, all this is due to the very large demand for bitcoin, and many investors are doing bitcoin games, so it's no wonder that the price of bitcoin is getting higher.
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I think the price movement of Bitcoin is great. If we look in the current situation that is still in the spread of Corona viruses that occur throughout the country. In addition, now the American state is in a chaotic condition, a lot of chaos happens. And the price of Bitcoin can still move up and I think the price of Bitcoin in this month can be translucent $10,000.
In these two months, we can see that the movement of Bitcoin can be experienced in growth. Bitcoin demand is still very high. And I recommend you to trade on the market that has a large volume.
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Before halving 2020, the Bitcoin price has increased quite big. I think it makes the current price hard to break the next level. I don't know whether it is overvalued or not, but I think the positive trend should continue. The demand in the market is still quite high.
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What do you mean by saying "overvalued"? The price of Bitcoin has reached the optimum price in 2020? I think the potential price of Bitcoin is still there. We still can see higher price of Bitcoin this year, no doubt I think.
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What do you mean by saying "overvalued"? The price of Bitcoin has reached the optimum price in 2020? I think the potential price of Bitcoin is still there. We still can see higher price of Bitcoin this year, no doubt I think.
I was also attracted to the word "overrated" in the title of this topic. However, after reading the text, I did not find anything that would relate to the revaluation of bitcoin. Moreover, this is written when in the near future we expect a significant growth in the cryptocurrency market. Now, on the contrary, a very good situation is developing in order for the cryptocurrency to grow in value.
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The global virus has had no effect on the rise or fall of bitcoin. However, the economic downturn is going on all over the world. However, the price of bitcoin will not increase at this time. And prices can be limited to $ 9k- 9.6k. But wait for its high price. Its price effect can change the economy but not economic growth or recession.
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Perhaps it is, because there was bitcoin pump before and after the bitcoin halving, so at any moment of course the price of bitcoin can fall and we need to monitor this, but we must hope that this will not happen.
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take it easy cryptocurrency prices like bitcoin will have good price movements because of course bitcoin will become very expensive and will experience price increases, the influence of very high demand and very limited supply will make the price go up.
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All of that because Bitcoin is still in the interest of traders, we don't need to want the price of Bitcoin to rise in excess of 10,000 USD but because we need to increase and change prices every day so we can take advantage.
For example like this, we buy Bitcoin at the price of 9,000 USD and go up to 9,500 USD.
If it continues to rise to the price of 9.900 USD then we miss the train and there are times when Bitcoin drops back to the price of 8,700 for us to buy back.
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Bitcoin is currently very high and that's because Supply is increasingly limited. The demand that makes the Bitcoin price increasingly higher. Now it seems like everyone needs Bitcoin if you don't buy Bitcoins you will miss because the predicted price will continue to increase.
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Now it seems like everyone needs Bitcoin if you don't buy Bitcoins you will miss because the predicted price will continue to increase.
Not all people exactly, there are some people still not interested to invest in Bitcoin or some people doubt investing because of possibility of big decrease. Anyway if we learn it carefully, we must know Bitcoin trends, and it is not only about the possible big decrease, but also the potential significant surge. However, to judge "the next increase", there is no guarantee for the exact time, it is only a prediction.
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The global virus has had no effect on the rise or fall of bitcoin. However, the economic downturn is going on all over the world. However, the price of bitcoin will not increase at this time. And prices can be limited to $ 9k- 9.6k. But wait for its high price. Its price effect can change the economy but not economic growth or recession.
Bitcoin's price cannot be overvalued. It will be what the ratio of supply and demand in this market makes it. If then the price of bitcoin at about ten thousand dollars was overvalued, then how to relate to its current price of 66,000 dollars?
However, we even hope that Bitcoin will reach one hundred thousand dollars in the last months of this year. Will he be overrated then?
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As far as I know, the price of Bitcoin has gone up as much as in the history of Bitcoin Bitcoin has touched the highest price this year. So far, however, the market for Bitcoin has been positive. Since the market is positive so far, we can assume The value of that bitcoin will rise much faster Here you can discuss what you think about the increase in the value of bitcoin.
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I don't know exactly what is the reason behind the rise in the price of bitcoin at present. But I think the price of bitcoin may be rising for some reason. But I think there could be another reason why the value of bitcoins increases at this time of year. Maybe Bitcoin is currently following that trend. However, the growth of the Bitcoin market is very important for us. Hopefully the price of bitcoin will increase in the future.
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Bitcoin's cryptocurrency is at an all-time high. It is good to hear such news that the price of Bitcoin will reach 100k dollars. Because investors are now investing heavily in cryptocurrencies and many countries have legalized cryptocurrency, all countries are supporting cryptocurrency. However, Bitcoin stands as the best platform in the current market.
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the higher the value of bitcoin may indicate that bitcoin has a special place in the eyes of its lovers,
and also because the existing stock is very limited can also be a factor why the value of bitcoin is high
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I don't think Bitcoin is overvalued, the price can increase more since more demand to buy Bitcoin as a digital asset. If the demand is always increasing, Bitcoin value deserves to keep growing, nothing wrong with this. It may be different if the demand is decreasing after Bitcoin rises significantly, we may claim that the price is already overvalued.
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the higher the value of bitcoin may indicate that bitcoin has a special place in the eyes of its lovers,
and also because the existing stock is very limited can also be a factor why the value of bitcoin is high
Right. The limited amount of Bitcoin that would ever be in existence is definitely the reason why the price of Bitcoin will continue to rise, basic economics. I don't also think that Bitcoin is overvalued, If we look at the population in comparison to the amount of Bitcoin, we are still going to have even more demand for bitcoin thereby further pushing the price higher in the future.
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I don't think Bitcoin is overvalued, the price can increase more since more demand to buy Bitcoin as a digital asset. If the demand is always increasing, Bitcoin value deserves to keep growing, nothing wrong with this. It may be different if the demand is decreasing after Bitcoin rises significantly, we may claim that the price is already overvalued.
Yes I think bitcoin demand is increasing day by day.
Many people have predicted bitcoin will touch 100K USD, I think It will be.
Bitcoin and altcoins will touch more ATH before. Let's see
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I don't think Bitcoin is overvalued, the price can increase more since more demand to buy Bitcoin as a digital asset. If the demand is always increasing, Bitcoin value deserves to keep growing, nothing wrong with this. It may be different if the demand is decreasing after Bitcoin rises significantly, we may claim that the price is already overvalued.
Your are right, Bitcoin price will grow and their populairity will increase day by day. I think Bitcoin demand will increase and the supply will limite.
maybe people said bitcoin price is overvalued, But not. It is market law
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No one can say with sufficient accuracy whether the price of bitcoin is overvalued for a specific period or not. The price is formed as the ratio of supply and demand forms. At the same time, we recognize that the price of any cryptocurrency can be influenced.
The issue of bitcoin overvaluation was raised when it hit $ 10,000. But it does not rise now that its price is over $ 68,000.
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Good to see how a post made last year describing Bitcoin to be overvalued at the $9,000+ level. Well, if one decided to buy as much Bitcoin as possible at that overvalued level then he can be so happy right now because from that level it generally made a x6 jump compared to where it is now at the $60K range. One thing is for sure, Bitcoin is growing and there is that possibility that soon it can go beyond $100,000.