Quote from: Dr.Bitcoin_Strange on August 16, 2024, 07:59:49 PM

Quote from: JamesDaniel90 on August 13, 2024, 11:17:27 AM

As we hit that new $73k all time high earlier than expected, can we still expect to go past it sometime this year or are we thinking next year now?

No matter how we speculate about the price of Bitcoin, we can not dispute the fact that the price of the asset can be very dynamic and even if we are very speculative about a very particular price, it's possible that the price might not end up as expected or could be go above our expectations. Despite theh price pump of Bitcoin before and after the halving, I don't have doubt that Bitcoin price can still be able to reach $80k+ before the end of this year but even if it doesn't, I don't have anything to lose because I already set my target price to sell and until that price is reached, I am obligated to keep holding.

if we can see the broader outlook of the current situation of BTC i think we can pretty much make prediction on how the market will turns out, for example if there were news of some entity tries to dump their bitcoin holdings into the market, we can be sure that there will be negaitve sentment and the market might turn bearish.
but it's also not a guarantee that the price will just stay bearish for the entire year, like how after german dumping the price went up suddenly and it effectively cancels out the negative sentiment created by that news.

so I think we can somewhat take a peek into what gonna be happening, but doesn't necessarily means we gonna be right, for me though I think since mt gox dumping and jumper has dumped their ETH and BTC is having few days of good inflows added with accumulation of institutional investors, I think $80k is possible. although undeniably there were times of outflow as well.