Future of Bitcoin

Discussion in 'Cryptocurrencies' started by inggo, Nov 23, 2017.

  1. inggo

    inggo Master Trader

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    and btc hits the 8000 mark, this is crazy scary yet exciting.. I cant follow much of whats really going to happen to much info surrounding this currency its a killer. (yet i have no trade going on there) best of luck to all btc traders.
     
  2. jellyeb

    jellyeb Active Trader

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    Not going to spent a cent on BTC but price swings look pretty attractive going to make some money on them
     
  3. inggo

    inggo Master Trader

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    my lst post was about it hitting the 8k mark, well it just passed the 19k mark last week but pulled back down to 16k its still crazy.
     
  4. jellyeb

    jellyeb Active Trader

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    Sitting on the fence is best strategy for now. But curious will the BTC survive in new Year long time?
     
  5. ambitionfx

    ambitionfx Trader

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    It just restore after dropping around 20%. I consider it could get over the old peak (19k).
     
  6. inggo

    inggo Master Trader

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    yup thats a possibility, and from the looks of it there is no stopping it, as long as people buy it will rise. it goes against logic at times but i guess thats just how it is
     
  7. jellyeb

    jellyeb Active Trader

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    Human emotions will be never explained by logic, and panic buying is exactly irrational behavior
     
  8. inggo

    inggo Master Trader

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    but something tells me that this panic buying is what keeps on pushing btc to greater hights, yeah there is nothing logical about btc but as long as we can make money from it then why not.
     
  9. jellyeb

    jellyeb Active Trader

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    If it crosses through 10K I will open long position on Hotforex to bet on change of sentiments
     
  10. Enivid

    Enivid Administrator Staff Member

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    It did cross through 10K. Have you been able to buy it?
     
  11. jellyeb

    jellyeb Active Trader

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    It didn't look like confirmed breakthrough to me, rather a flirt with this level. But with Tommy Lee's bold forecasts and subsided regulatory concerns it has long way up to go. The touch of 10K creates case for bull run but will jump from $9100, not higher.
     
  12. ambitionfx

    ambitionfx Trader

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    Do you think this is a consistent rise or just another wave before falling back to 6-8k?
     
  13. Enivid

    Enivid Administrator Staff Member

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    Not sure about falling back to 6-8k, but I am long-term bullish on Bitcoin.
     
  14. jellyeb

    jellyeb Active Trader

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    But why? What is your target?
     
  15. Enivid

    Enivid Administrator Staff Member

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    No target. It will either become a globally accepted currency, in which case there is no sense in exchanging it into any fiat currency, or become worthless.
     
  16. jellyeb

    jellyeb Active Trader

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    Hmm making it global currency means local central banks will lose ability to conduct independent monetary policy? How then they will react to supply& demand shocks by means of only fiscal policy?
     
  17. Enivid

    Enivid Administrator Staff Member

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    That's yet another problem to solve before Bitcoin could become a global currency. ;-)
     
  18. inggo

    inggo Master Trader

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    they say its a large ponzi scheme, a currency driven by speculation, but from the looks of it its like this speculation as actually materializing into something real. just imagine if the world actually shifted from gold base currencies into digital ones, I dont know but something tells me its gonna be chaotic. but for now while it bounces around the 11k mark im just gonna watch. small scalps might be a good idea but currently i can even see a clear picture.
     
  19. ambitionfx

    ambitionfx Trader

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    I don't think Bitcoin could be a global currency because of its limitation (the number of bitcoin is finite), so how could Bitcoin overcome it? I think Bitcoin ver 2 could resolve this but not easy.
     
  20. Enivid

    Enivid Administrator Staff Member

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    Bitcoin can overcome it by its divisibility (down to 10^-8). Its supply can also be expanded upon consensus of the Bitcoin community.
     
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