Quote from: 20kevin20 on March 18, 2020, 01:12:04 PM

Quote from: LFC_Bitcoin on March 18, 2020, 12:58:51 PM

The halving is in under 2 months, miners wont be selling much due to the low prices, the supply of coins is cut in half so its very likely that the price will rise fairly significantly before the end of the year.

The OP doesnt need a crystal ball to predict a rise in bitcoin once this COVID-19 rubbish is over.

I highly doubt we'll recover until the end of the year. This is going to take a very long time and I don't think crypto will be the asset people will focus on. I believe BTC will recover too, but it's most likely going to take a long while until then unfortunately.

On the other side though, this opens the opportunity for me to accumulate more. I always considered BTC dumps something like going back in time and getting a second chance to accumulate while prices are low. Hopefully things will evolve the same way they used to in the past few years as soon as the crisis is over.

I think there are a number of factors which will drive up the price of Bitcoin sooner, rather than later. Maybe the pump comes this summer.

People are concerned about the money they have in the bank. In the US there is no reserve requirement now, and with the supply of dollars increasing massively (and negative interest rates in Europe) people are actively looking for a place to store and protect their wealth.

Physical cash is an option, but it can be devalued overnight, is easily stolen at borders, and is difficult to convert to electronic format.
Gold is an option, but it has the same problems as physical cash (or worse). The only benefit of gold over cash is that it is impossible to devalue. But you still have to pay to store it (same effect as negative interest rates) and there are problems with price manipulation.

Securities are not a good place to be either, as the organizations offering them might very well go bankrupt and never be able to pay dividends in the future.

The only safe haven seems to be Bitcoin. It is the only commodity humans have which is portable, divisible, and can be transported through time without any loss.

After people realize this, and after the new supply of Bitcoin is cut in half, the price of Bitcoin will go wild.