Re: Bitcoin price analysis from 2015 to 2018: What will happen in the next months?
Hi guys!
I created a graphic analysis of the Bitcoin price from 2015 to the present (first semester of each year, weekly frequency, logarithmic scale).
What will happen according to you? Is 2018 an atypical year or not?
Some considerations:
1) 2017/2018: about 30 forks have been implemented. They may have influenced BTC price (especially cash and gold).
2) 2017/2018: BTC Futures. I think they have weakly changed cryptocurrency market.
3) BTC dominance has collapsed in the last 3 years: from 80% to 40%.
4) Media attention may have influenced last semester.
5) Scalability problems have transformed Bitcoins in assets.
I created a graphic analysis of the Bitcoin price from 2015 to the present (first semester of each year, weekly frequency, logarithmic scale).
What will happen according to you? Is 2018 an atypical year or not?
Some considerations:
1) 2017/2018: about 30 forks have been implemented. They may have influenced BTC price (especially cash and gold).
2) 2017/2018: BTC Futures. I think they have weakly changed cryptocurrency market.
3) BTC dominance has collapsed in the last 3 years: from 80% to 40%.
4) Media attention may have influenced last semester.
5) Scalability problems have transformed Bitcoins in assets.
2018 will be similar to 2014 in a sense, it's going to be a year that is coming off a huge performance. Everyone's hyped up for bitcoin but the bubble has seemingly burst. So we fall in a phase of consolidation, really.
Will it grow in price in the next few months? I think so. I think that we should settle at around $10-15k this year and just comfortably float around that area. We're on the lower end of that range at the moment, which means that in the coming months there could be some pumps.
Will there be tripling/quadrupling of price regularly on the bitcoin scene this year? I don't think so. There are so many forks and alts as I mentioned that are sort of pulling the markets to speculate on these for the moment, but long term BTC's still gonna end up being the definitive winner. BTC dominance will rise in the long term as well.