We are all excited that bitcoin started moving forward again. Let's have some discussion here how far bitcoin will go this time.
Come up with your prediction, date when will it reach there and of course with a reason why you think it will reach that point.
$10,000 before end of year
I will keep it quite less until some countries come up with their actual stand on cryptocurrencies. As it will highly impact the market and push it to a new level or pull it to a new low.
See dude first of all, there is no one so much perfect who can really predict the exact price of the Bitcoins.
But i can say you the reason for which the price affects, that's increases or decreases.
So first of all Bitcoin follows the rule of Supply and Demand therefore when the demand is high, the supply becomes less and it makes the coin more valuable.
For this reason the price of Bitcoin increases.
Hope a little doubt is cleared in your mind.
You are right mate, there is no one that can confidently predict the exact price of bitcoin at any moment, not even TA or FA can do that accurately, because cryptocurrency value follows only the rule of demand and supply as you said.
The only thing we can do to create the demand needed for bitcoin to continue increasing in its value is to first of all spot what contributes to it increase, which one of it is hype, aside institutional investments or retail companies adoptions and many more. We need to learn to always speak what will encourage people to buy bitcoin from time to time, this is one on the strongest tool, that creates demand for bitcoin.