Bitcoin Price Has Been Stable Since Halving
Where is Bitcoin Headed Now?
The price of Bitcoin has been very stable since the halving. In the last two weeks is has traded within a 5% price range. I know there are a lot of Bitcoin experts out there and I'm wondering where you see the price moving from here? Will the last two weeks of consolidation allow it to move higher? Or will the post halving hype start to die down and cause bitcoin to fall back into the $500 range?
Higher, all fundamentals are still very good!
Take note at how early the market had found itself and priced in the halving before it hit. It's quite remarkable in my opinion. I have noted it and I will pay attention to that during next halving. But I partially suspect that some of the "big players" purposefully kept it sub $750 while halving completed, selling only enough to dictate the price and allow day trading. ( You have to admit the 650$ to 675$ has been more consistent than grannies bowel movements) I didn't make any money during this halving. I made money trading, but not particularly from the halving. Personally I think the next big rally slowly over the next 12 months is a push to $800-$900. Probably a severe dip before that rocket though.
I like that you are taking such a long view of things. Planning for the next halving in 4 years is a very long view for most investors. Let's hope the falling Yuan will help propel the next big rally soon. I would love to see $900 bitcoins.
Do you have any thoughts on ethereum? I bough some bitcoin on the dip and looking at possibly buying some ethereum as well. Thanks!
I think Ethereum will eventually head higher once all the dust from TheDAO fiasco and subsequent forking has settled. Development work on it continues and now people will hopefully be a little smarter with smart contracts.
I'm not sure what to make of Ethereum Classic. It certainly has caught many people by surprise. But is it a fad or does it have real legs? That's the big question.