Quote from: Lucius on October 29, 2018, 09:50:38 AM

Quote from: nydiacaskey01 on October 29, 2018, 07:35:12 AM

Quote from: Addywealth on October 27, 2018, 07:44:15 AM

We are gradually heading to the festive period of the year, we are expected to use some of our bitcoin investments to take care of some personal and family needs. With the current status of the market do you see bitcoin rising up at the end of the year? Kindly give your reasons

Before the festive season starts keep in mind that there's also this Black Friday November 23 and Cyber Monday that will happen by November 26. Cyber Monday is most anticipated one because there's a lot of discounts or sale that will happen and available only online so if a site accepts Cryptos, most likely demand will increase for Cryptos on that day. If you have a domain hosted by Namecheap, there's a big chance that they will offer discounts for renewal.

It is important to note that most of dealers who accept BTC as a means of payment are using the intermediary services, and they convert that coins to fiat. That actually means that all that spended coins only increase the supply on the market, which means price will not go up because people pay in crypto.

Only way price can go up is to people start buy coins for some reason, and this was usually the case at this time of year - but for now there are no indications that the end of this year can bring an increase in price. However we should not completely dismiss the possibility that something "good" will happen, but in my opinion the odds for it are 25% - it's more likely that price will stay stable as in previous months.

people are not going to buy bitcoin to then go right on to spending it somewhere else! even if the merchants give big discounts that still doesn't make sense because of the fees (2 major fees: fiat deposit fee from bank to buy bitcoin + % trading fee when exchanging that to bitcoin). so if price goes up it is going up only because of speculation and nothing else.

and as for dealers, if they use services such as Bitpay for instance for accepting bitcoin their coins won't be sold on exchanges. they will be sold elsewhere off the market so they will never affect anything about the price. and these services like Bitpay have enough liquidity that a small rise won't really change anything.