Quote from: lllDMDlll on July 21, 2016, 01:33:40 AM

So maybe $1200 was a little too much to expect in such a short period of time after the halving, but I am still confident Bitcoin will hit that price in the next couple of months. The reason I picked a high price was because I thought the chain reaction would happen quicker than it is happening as a result of the halving, but this delay may be a blessing. Since the price is stagnant right now, miners are hurting and are most likely closing their operations or stalling until they are able to get a higher dollar for their coin. Like some of you said, the supply and demand effect will kick in and trigger buying and a small price spike since less coin is available (minor panic buying). Also, the block difficulty will fall when miners quit mining (can be seen after last halving) which could create some turmoil among the mining community. Basically, it'll turn into survival of the fittest and whoever is able to hold out the longest will take advantage of the low block difficulty and generate all the coin. A cryptopoly if you will (excuse my terrible jokes). There's more to this theory such as Britain, Turkey, and Trump running for president, but I'll leave it at this so as not to clog up my thread any more than is needed. In other words, I stand by my prediction. I just made it too soon. There will be a significant price increase. Expect it. Wink

Chain reaction will take time to process, it won't happened that past because halving is done. You may expect to feel it after 3-4 months. The price might be good or bad. Still we don't have any clue.