Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Legacy360 on September 18, 2020, 10:24:46 AM
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There are only 23 million btc to be mined. And, only 18,236,512 btc has been mined. Only 2,763,488 btc remaining.
With this remaining bitcon, can the effect make the price of cryptocurrencies to reach it peek. It sounds impossible to me but I know that the price will increase but may not reach new all time high.
So, something not seen yet can be the reason why cryptocurrencies can reach new all time high such as people anticipation. Like I am anticipating, I have invest in 0.4 btc. Some people will also do as I did.
The second thing that can cause it is the increase in the price. Some people that know how to analyze crypto market will still see that the price will increase and therefore invest and make the price to continue to increase.
The third thing I believe can make the price to increase are fomo people. They will see everyone investing and they will also invest for not to miss the great benefit.
This is what I think about cryptocurrencies this year and next year because this process will extend to next year as I analyzed it. You people can also make contributions to know if we should invest more on cryptocurrencies this year.
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Yes, more than 18 million bitcoins have already been mined, and a total of 21 million will be mined by 2140. After the May event to reduce the remuneration to miners by half for each new mined block of bitcoin, within a year, bitcoin should increase significantly in price. Already, experts note that bitcoin is ready for price growth. Traditionally, bitcoin has appreciated in the fourth quarter and I hope this year will be no different.
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The effects of FOMO to the price of any cryptocurrency including that of Bitcoin can only be temporary and will surely not last and will even make things not good in the long-run as there can be people that will be burned, financially at least. I am sure that many people are asking why is it that up to now Bitcoin seems to be stuck somewhere and is not really getting into the massive adoption we are all dreaming of. There are many factors involved with massive adoption and these factors must be working synergistically. Maybe we should just wait for the right time for that to happen.
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In the past, this event has coincided with a strong run-up in the bitcoin price and has lead to pre- and post-halving volatility, with price implications extending into 2020 and beyond. The 2020 halving event has several additional factors than previous such events, including the availability of CME Bitcoin futures and options, which investors and miners can use to hedge or express views on the bitcoin price.
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Bitcoin halving has been done several months ago. The result is very different from the previous halving in 2017. Yeah, the price is considered to reach more than ATH but until now, it is not yet.
However, it is still getting curious because today there is a big problem because of a pandemic. So, better to think positively to expect for the higher achievement for BTC in this year.
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The price will increase if there is a high demand for the coins/tokens. It will be also influenced by the trading volume so that people believe that the coins or tokens are really worthy to have.
With this remaining bitcoin, can the effect make the price of cryptocurrencies to reach it peek. It sounds impossible to me but I know that the price will increase but may not reach new all time high.
if it is about halving, the previous halving might be a very great example. but this recent halving? We still wait for the influence of halving to the BTC price. In fact, the market still holds the price tight. And it may still need more periods to reach or pass its ATH.
The second thing that can cause it is the increase in the price. Some people that know how to analyze the crypto market will still see that the price will increase and therefore invest and make the price to continue to increase.
It is confusing, not all people know how to analyze and your explanation is too short to understand.
The third thing I believe can make the price to increase are fomo people. They will see everyone investing and they will also invest for not to miss the great benefit.
FOMO and HYPE only will make tokens or coins to increase in a limited period, after that, the price will decrease so extremely. So, never buy the cryptos based on FOMO or HYPE.
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No one really knows about the possibility of new ATH. Personally, I only expect that the price of Bitcoin at least can go around $15K. If the price of Bitcoin can survive a long time around $15K, then I guss there is a chance for the next level to reach. But if the price is getting lower and lower, no chance for new ATH.
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In the previous two cases, the reward for miners was halved for each new mined block of bitcoin in 2012 and 2016, bitcoin grew sharply in price only after about a year. Since the last similar event in May, it is the fifth month, therefore, for another six months, the price of bitcoin should increase several times.
The situation with the coronavirus pandemic should not significantly affect the growth of bitcoin and the entire cryptocurrency market. This market did not even react to the second wave of coronavirus, which began in many countries.
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After 2017 i didn't see any halving of bitcoin till today but i am optimistic it will be held soon. Any time it starts bull run and will reach high beyond expectations of anyone.
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I am sure that many people are asking why is it that up to now Bitcoin seems to be stuck somewhere and is not really getting into the massive adoption we are all dreaming of.
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We very much hoped for the last months of the outgoing year. They are usually the best ones for price growth in this market. But apparently not this year. Now the price of bitcoin has dropped to a level slightly above $ 54,000, and it was assumed that by that time it would be able to reach price heights of around $ 100,000. Are investors no longer at risk of investing large sums in bitcoin, but prefer cheaper and rapidly growing altcoins? Let's see how events will develop at the beginning of next year.