Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: TomPluz on February 02, 2024, 08:30:58 AM
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A recent international survey by Bitget has illuminated the crypto market’s hopeful perspective, drawing insights from close to 10,000 individuals across areas such as West Europe, East Europe, Southeast Asia, East Asia, MENA, and Latin America. More than half of the participants globally anticipate that bitcoin prices will hover between $30,000 and $60,000 during the halving period (around April 2024), while 30% foresee the price exceeding the $60,000 mark.
Source: https://cryptorank.io/ru/news/feed/4271c-bullish-on-bitcoin-global-survey-respondents-anticipate-btc-price-spike-to-60k-and-beyond-in-2024
(https://static.news.bitcoin.com/wp-content/uploads/2024/02/bull-768x432.jpg)
According to this survey, it is confirmed that majority of people involved in cryptocurrency most especially with Bitcoin is really expecting a bull run to happen soon or at least within this year. This bullish sentiment can mean a lot to the industry as a whole as this signal that more and more participants will be coming in...in search for investment opportunities and possible profits either short-term or in the long run. Personally speaking, I am disappointed with the ETF effect but I am still thinking that this can just be temporary and that its power will be slowly felt in months from now...and coupled with the coming Bitcoin halving there can be synergy of events that can magically turn the market wildly skyrocketing.
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Do not be disappointed with United States bitcoin spot ETF. Some people would have forgotten that bitcoin fell below $25000 some months ago. Spot bitcoin ETF made many people to fomo and invested in bitcoin. A day after the approval, bitcoin increased to $49000 before falling.
After the ETF approval, we should not expect that there will not be a retracement after a day low price increase from around $46000 to $49000. But some people are thinking the bull run will last longer and that bitcoin may reach over $50000.and higher.
It is worth to know that ETF effect will be long term, the effect is not just in short term. But we should leave ETF aside. What I know more about is that the price of bitcoin will get to all-time-high and also likely will it get to over $100000 after halving. This can take months but the days are getting closer.
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I didn't need to see these statistics to know that everyone is optimistic about Bitcoin rising above 60K$ in the coming months.
But such surveys are good and useful for knowing people's opinions, and what is nice here is that the survey was conducted in different regions of the world and everyone is optimistic about the upcoming rise of Bitcoin.
Although some are pessimistic as a result of the price decline after the approval of the ETF, it is clear that this is temporary and everyone is optimistic, especially with the approach of halving, as most expectations indicate that we will see 100K$.
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When you see articles like these, be rest assured that 99% wouldn't go as they predicted. Bitcoin isn't asset that you can make your calls on anyhow, we have seen many times how people has said that Bitcoin is going zero, it's doing this and that but it's has prove beyond doubt that it remain one of the best asset to have performed in a decade and still counting.
I am affirmative that Bitcoin will one day see $60 as normal thing just the way $40k is now normalize, we will wish we have bought bitcoin when it was lower around these ranges because now it look too cost in the future but not by these experts calls and statistics. These stats may even look not real but just a media stunt to do their move and make money on normal traffic visits.
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Do not be disappointed with United States bitcoin spot ETF. Some people would have forgotten that bitcoin fell below $25000 some months ago. Spot bitcoin ETF made many people to fomo and invested in bitcoin. A day after the approval, bitcoin increased to $49000 before falling.
After the ETF approval, we should not expect that there will not be a retracement after a day low price increase from around $46000 to $49000. But some people are thinking the bull run will last longer and that bitcoin may reach over $50000.and higher.
It is worth to know that ETF effect will be long term, the effect is not just in short term. But we should leave ETF aside. What I know more about is that the price of bitcoin will get to all-time-high and also likely will it get to over $100000 after halving. This can take months but the days are getting closer.
Yes, I think for now, it's better to put aside the effects of ETF, we have seen the reaction already. And it falls on the category of "buy the rumor, sell the news". Or perhaps it was FOMO, but nevertheless we should all be looking for the block halving as the reason on why we will be bullish after April. As we have seen in it's historical logs, halving is the catalyst and it will be.
ETF might be good at the side, but it will not be the primary driver of what or how big this bull run will do. It might be a factor if we will have to think about it. But it will still be the block halving as bitcoin will be more scarce and the demand will grow.
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When you see articles like these, be rest assured that 99% wouldn't go as they predicted.
Well, that's for sure.In such a volatile asset we are not going to be able to predict short-term movements, and proof of this is this very cycle that is coming to an end. In the medium to long term there is a little more reliability if we look at the past, the behaviour of the price around the halving and do not simply assume that something similar has to happen again, but also take into account other factors. With this, the most normal thing is to think that 2024 will be bullish, but can we be sure? Hell no.
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According to this survey, it is confirmed that majority of people involved in cryptocurrency most especially with Bitcoin is really expecting a bull run to happen soon or at least within this year. This bullish sentiment can mean a lot to the industry as a whole as this signal that more and more participants will be coming in...in search for investment opportunities and possible profits either short-term or in the long run.
Let's say that everyone is betting on the halving effect, which at least in the past has always had very positive changes when it comes to price. Most hope that it will be the same this time, but when it comes to Bitcoin, the question is how much the next halving will affect the price, considering that last time the price increase was only x3.5 compared to the previous ATH.
Personally speaking, I am disappointed with the ETF effect but I am still thinking that this can just be temporary and that its power will be slowly felt in months from now...and coupled with the coming Bitcoin halving there can be synergy of events that can magically turn the market wildly skyrocketing.
True, the "magic" didn't happen because Grayscale started selling large amounts of BTC and I think they sold more than 100 000 BTC to date. Although all the other ETFs are somewhere around 150 000 BTC in total, I think that it is all still fairly balanced and that we will be between $40k and $45k for a while. Unless something extraordinary happens, I think that the real excitement awaits us only in Q4 or maybe at the beginning of next year.
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Bitcoin has seen $60k before, it can do it again and I'm sure it will. In 2024, my expectations are also positive because there is halving. The amount of rewards per block will drop to 3,125. Even if smart money doesn't prefer exchanges, I think we will have a good year for Bitcoin and cryptocurrencies. I don't think there is any reason for us to be pessimistic. ETF approval has been given, Halving is coming, and the Fed is going to start lowering interest rates. Everything is moving in a positive direction for us.
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People having high expectations from crypto isn't a new thing, and considering we are about to reach to a level where it is all about the bull run after the halving, I think we could say that it is going to be quite good, and shouldn't really have anything that would be risky, we could see it reach to a point where we could see it work. I feel like 60k during 2024 isn't unlikely, the peak of 2017 was broken at 2020, not 2021, people forget that. So we could see 60k+ during 2024 as well.
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Why are you disappointed that the price didn't pump immediately after spot etf's were approved in the u.s. market, it was never going to be a short term price movement, in which the price rises just after the news or big event, and falls after sometime. The effect of the spot etf approval is going to be organic and the pump will be felt in the long run.
BTC price is expected to surely go above $60k, however investors must understand that they have to only invest what they can afford to lose, do not invest all you have because you are expecting a bull run.
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By and large we were all satisfied with the market in 2023 and the way 2024 has started is also showing some positive signs. In January and February, the Bitcoin market was at a two-year high, meaning that Bitcoin was very close to $50,000. If Bitcoin had touched $50,000 at this stage, it would have been the highest price it has touched in the past few years, but Bitcoin fell just short of touching $50,000. The year 2024 has just started and we are seeing such positive behavior of the market at the beginning as there is still a lot of time left so we can expect the market to touch $60000 by 2024 and we won't be surprised if it goes above.
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That's actually a good price range within the halving period. If these prices come and that's close to the last all time high, we may see more of it like times 2 or 3 or even more. What we need to wait is the confirmation of these prices that they really are going to happen. It's again a guessing and waiting game for all of us. But one thing is real with this pattern is when we see it comes next year as that's the validation period for the ATH.
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People are speaking based on statistics and experience all halving points to price increase, and if ever there was a crash, it was from unexpected circumstances like the Pandemic, but adoption is moving forward, whenever new halving is coming people's hope and expectation are high, and this coming halving is no exception, $60k or beyond is not possible, the situation than the last halving is much better.
I guess every halving has a different positive scenario which is why expectations are very high.
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(https://static.news.bitcoin.com/wp-content/uploads/2024/02/bull-768x432.jpg)
According to this survey, it is confirmed that majority of people involved in cryptocurrency most especially with Bitcoin is really expecting a bull run to happen soon or at least within this year. This bullish sentiment can mean a lot to the industry as a whole as this signal that more and more participants will be coming in...in search for investment opportunities and possible profits either short-term or in the long run. Personally speaking, I am disappointed with the ETF effect but I am still thinking that this can just be temporary and that its power will be slowly felt in months from now...and coupled with the coming Bitcoin halving there can be synergy of events that can magically turn the market wildly skyrocketing.
I totally agree with you that Bitcoin will break all previous bullish trends and achieve new ATH within this year or next year. The recent approval of Bitcoin ETF is already encouraging investors all over the world to invest in bitcoin. The impact of Bitcoin ETF is still invisible but will become visible with in the shortest possible of time. ETFs will set a milestone in the upcoming bull run. Not only this, but now Google is also promoting ETF related different advertisement so that investors are getting a better idea about it. With Bitcoin halving and ETFs, we are headed for one of the most strongest bull runs in Bitcoin history.
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(https://static.news.bitcoin.com/wp-content/uploads/2024/02/bull-768x432.jpg)
According to this survey, it is confirmed that majority of people involved in cryptocurrency most especially with Bitcoin is really expecting a bull run to happen soon or at least within this year. This bullish sentiment can mean a lot to the industry as a whole as this signal that more and more participants will be coming in...in search for investment opportunities and possible profits either short-term or in the long run. Personally speaking, I am disappointed with the ETF effect but I am still thinking that this can just be temporary and that its power will be slowly felt in months from now...and coupled with the coming Bitcoin halving there can be synergy of events that can magically turn the market wildly skyrocketing.
I totally agree with you that Bitcoin will break all previous bullish trends and achieve new ATH within this year or next year. The recent approval of Bitcoin ETF is already encouraging investors all over the world to invest in bitcoin. The impact of Bitcoin ETF is still invisible but will become visible with in the shortest possible of time. ETFs will set a milestone in the upcoming bull run. Not only this, but now Google is also promoting ETF related different advertisement so that investors are getting a better idea about it. With Bitcoin halving and ETFs, we are headed for one of the most strongest bull runs in Bitcoin history.
Well, this is already that anticipated on which bull run would definitely be happening after with the halving event that happens n Bitcoin. It is really just that it cant be known whether this time
it would be happening before halving or not. Presuming out that it would be able to break out its previous ATH on which sitting on 69k then no one really knows. Everything will really be that depending on the demand and market recognition plus we do know that institutional funds are already flowing into this market on which it is safe to mention or do talk
that events could happen in the future would really be that totally random on which decisions and other fundamentals could really be happening once those big players would
be making such move.
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According to this survey, it is confirmed that majority of people involved in cryptocurrency most especially with Bitcoin is really expecting a bull run to happen soon or at least within this year. This bullish sentiment can mean a lot to the industry as a whole as this signal that more and more participants will be coming in...in search for investment opportunities and possible profits either short-term or in the long run.
Let's say that everyone is betting on the halving effect, which at least in the past has always had very positive changes when it comes to price. Most hope that it will be the same this time, but when it comes to Bitcoin, the question is how much the next halving will affect the price, considering that last time the price increase was only x3.5 compared to the previous ATH.
Personally speaking, I am disappointed with the ETF effect but I am still thinking that this can just be temporary and that its power will be slowly felt in months from now...and coupled with the coming Bitcoin halving there can be synergy of events that can magically turn the market wildly skyrocketing.
True, the "magic" didn't happen because Grayscale started selling large amounts of BTC and I think they sold more than 100 000 BTC to date. Although all the other ETFs are somewhere around 150 000 BTC in total, I think that it is all still fairly balanced and that we will be between $40k and $45k for a while. Unless something extraordinary happens, I think that the real excitement awaits us only in Q4 or maybe at the beginning of next year.
I can tell you from a miners viewpoint we need 60k after the ½ ing to continue to mine at the current levels.
I think this ½ ing is a real test of the future from the mining viewpoint.
we have huge mines which likely are do 70% of the mining in the world.
huge mines keep grabbing a bigger slice of the pie.
we then get smaller commercial mines say 250kwatts to 2 mega watt
then the spot guy say 20kwatts to 250kwatts
lastly home miners under 20 kwatts.
I can tell you mining at 250kwatts is very hard.
it is about 60 s21 units they burn 250x24x30 =180,000 kwatts a month at five cent power.
9000 usd just on power. they are 60 x 200 = 12000th which now is 840 usd a day about 25,200 a month
sounds okay 25,200-9,000= 16,200 a month after power.
but the 60 units are 250,000 usd
and in 2 months the earnings ½ to 12600-9000= 3600 a month
paying off the gear and renting the building. you are pretty much a bust on april 1st at current 43k price. so the 60k is needed to keep you afloat
with the best gear and five cent power.
Notice I use 5 cent number.
In prior bad times 6 cent number worked.
so a small-medium guy will be in real trouble in april.
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@philipma1957, It is always good to see how things look from different perspectives, and considering that you have been in this business for a long time, your information is always welcome. I hope that the price will still go up and that small miners will not lose part of their stake after the halving, because I am always in favor of having as many small miners as possible rather than a few large companies that take all the profit.
However, I did not know that for profitability we need even $60k, although in some way we are very close, but also somewhat far from it, considering that $50k has turned out to be a very solid barrier so far. If not before the halving, I hope that within about 6 months after the halving the price will reach at least $60k and more.
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We have to remember this that we are not likely to keep having the bullrun on a stretch, this is why the market is being volatile, it's comes in with the bull and bear all together, there's more certainty that before or during halving, Bitcoin will revisit it's all time high, then after the halving, there's going to be a new all time highs which we don't have the specific time for or know which high will mark the highest and last one for the bullrun.