Quote from: bamboylee on October 21, 2016, 04:26:49 AM

Quote from: 1Referee on October 20, 2016, 09:07:33 AM

Quote from: lexuz on October 20, 2016, 07:38:32 AM

In a few months bitcoin price never can't break $650 maybe it's the time we must lose a hope to seeing bitcoin price touch $700 in this year.

No need to lose hope, but the point is that the majority of the people here expect too much from the price. Reaching $700 this year is a realistic possibility as there are more than 2 months to go before this year ends. But hoping for prices higher than $700 is more like wishful thinking. I think $700-$720 will be the peak that we will see in the remaining time of this year, and after that it will settle below $700.

Just be patient. Bitcoin will break thru 700 and above in a few months. THere are a lot of good things going on on bitcoin right now. It is sure to break 700 and maybe 800 within this year or early next year. If bitcoin ETF push thru, the price might even get higher than that.

I have a lot patience. From all the good things (according to you) going on with Bitcoin, list me the most important ones. Also, are you talking about the Winklevoss ETF? If so, then I think we might be up for at least another year of waiting before it gets approved (if it gets approved at all).

Quote from: wuvdoll on October 21, 2016, 05:41:07 PM

Of course there should be hope for rise of the price. the two remaining months are months characterized with lots of purchases. So, many people will be buying lots of bitcoin for purchases which will increase the demand and consequently the price that everyone here is hoping to see. I think what i said is making sense, right ?

People buying themselves a position into Bitcoin can indeed lead to a higher price, so in that regard it makes sense. But don't forget that this market is being controlled by certain groups of very wealthy (mostly Chinese) traders, with high stakes in the mining industry. Even if the price doesn't go up by legit demand as in more people buying Bitcoin, these traders will make sure the price remains on a certain (profitable) level for them. In that aspect, not everything is always what it seems to be. Wink