Bitcoin Price Prediction September
From a fundamental perspective, Bitcoin is performing fairly well in Features like transaction batching and SegWit have made the asset more competitive lately, putting its speeds closer to other currencies like Bitcoin Cash. Other notable achievements include Bitcoin reaching an all time high hash rate of ,, trillions of hashes per second on September 18 Additionally, the Bakkt Bitcoin Futures were launched on September 23, more than one year after the initial announcement.
However, a sharp decrease in the price followed the next day. But, its likelihood of sticking around for the long-term is higher this year than it ever has been. In light of these development, we are going to make an attempt to predict the Bitcoin price in the end of September, on December 31, , and Additionally, it looks to be on the final wave of its correction since reaching its aforementioned high.
Furthermore, the RSI has created some bullish divergence. There are three interesting upward sloping trend-lines visible when looking at the price of BTC since We have used different colours to identify them and will refer to them as the red, blue and green trend-lines. However, due to its extremely steep slope, it is not likely to be touched in the near future.
Additionally, it represents the upper limit of possible price increases for the future. The blue and green trend-lines are currently acting as resistance and support respectively. Therefore, future movement is likely to be contained within the confines of these two trend-lines, at least for the near future. The price is likely to continue decreasing and reach the support line by the end of the year. However, for the year , the prediction is significantly less accurate.
In order to amend this, we have outlined curved trend-lines that follow every single low and high. This however, is still a very inaccurate prediction that allows for significant movement between these two areas. Next, while keeping these values in mind, we will try to find similarities between this move and previous ones, in order to make a more accurate assumption about future prices. Besides the fact that both of these highs occurred at the resistance line, the amount of time it took for the price to reach a low and the magnitude of decrease from high to low were very similar.
This low occurred after days. While this is still a very big range, such is necessary when doing a prediction five years from now. The January 13, and December 15, lows are the only dates in which the weekly RSI fell below Additionally, this is the longest period in which the MACD was in negative territory.
However, the price movement following the December low has not been identical to that after the January low. After December 15, the price reached a high after days, on June 26, More specifically, it was 2. This does not fit into our projections. Therefore, the possibility that the price movement after Dec 15, is the same as that after Jan 14, but occurs at a faster rate is invalidated.
However, besides the time period, there are still similarities between the high on June 18, and June 26, During both movement, the price spend a long period of time trading below its day moving average MA. After the breakdown, the price spend a very short period of time below the day MA, before immediately moving above it.
Looking at the duration of the triangle and its height, we can see that the movement in was 1. Using these ratios, finding the price in the previous move that corresponds with the price in the beginning of is straightforward. Since the price broke down from the triangle, it has not retraced at all. Since it is currently inside a support area, we are expecting some retracement. Both predictions are in agreement for the price on December 31, The price should decrease slightly in the beginning of , before beginning an upward move during the latter half of the year.
We have a large range for this prediction, due to the fact that it is a long period of time in the future. While the actual price movement is just a rough outline, it is likely that several market cycles will be completed until then. Do y ou think our predictions are accurate? What are your thoughts on the methods used to reach our conclusions? Let us know in the comments below. Disclaimer: This article is not trading advice and should not be construed as such.
Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile. BeInCrypto provides an inside perspective on the latest trends in an emerging market while keeping our audience abreast of the hottest news, as it breaks. Our only goal is to provide you — the reader — with important information, and we would never insult your intelligence by publishing unlabeled promotional material.
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Bitcoin Price Prediction September
Latest news 2. Expert opinion 3. Fundamental analysis 4. Closest rivals 5. Ethereum 6. Ripple 7. EOS 8.
Bitcoin is unique. It is the first of its kind. Compared to other currencies, bitcoin is deflationary in nature because of its fixed supply cap. It is not possible to print more than 21 million bitcoins into existence. Think about this… There are roughly 35 million millionaires in the world. You could use bitcoin up to 8 decimal places. And its smallest fraction is called a Satoshi. When Bitcoin first appeared, no one really thought a Satoshi would have any real value. But on 22nd May , Laszlo Hanyec bought a pizza for 10, Bitcoins. So how do you value the price of one bitcoin?
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What Is Bitcoin?
In this Bitcoin price prediction guide, I will first give you a quick overview of what Bitcoin actually is, followed by a brief explanation of the things to consider before you invest heavily based on a price prediction guide just like this one!
After that, I will then discuss some popular price predictions for the year and let you know my thoughts on each of. Finally, I will then discuss some of the upcoming real-world events that could affect its price movement going forward.
Bitcoin allows people to send and receive funds without a third party intermediary and as such, it is a decentralized payments.
The network is controlled by no single person or authority, nor is it backed by any central bank. In return, miners are rewarded with additional Bitcoin for contributing to the network. The technology that what is bitcoin pdf 2020 Bitcoin is called a blockchainwhich is like a giant accounting book. Every single transaction that has ever been processed on the Bitcoin network is available to view on the blockchain. Furthermore, once a transaction has been added, it can never be changed or removed — which makes it extremely transparent.
When sending Bitcoin to another person, a transaction normally takes about 10 minutes. In total, the network can process about 7 transactions per second and fees depend on how many people are using the. The Bitcoin project has been an amazing success — when it was first released inits price was less than 1 cent. Not only this, but the creation of Bitcoin has encouraged more than 1, different cryptocurrencies to enter the market to date.
In reality, nobody can predict the future of a cryptocurrency, but if we could, we would all be billionaires. In the cryptocurrency world, prices are very volatile. This means that the value of a coin can go up or down really quickly, with often no explanation as to why.
This makes predicting prices much more difficult than traditional markets. When considering the future value of a cryptocurrency, it is always better to look at real-world events. This can include improved technology, future roadmap objectives, new partnerships or even regulations. The most important thing is that you always perform your own independent research before making an investment.
Never buy a cryptocurrency just because a price prediction excites you, or because your favorite YouTuber told you to! At the end of the day, everyone has a see more opinion and there is no guarantee that anyone will get it right.
So, now that you know what to consider when reading predictions, the next part of my Bitcoin price prediction is going to analyze some well-known Bitcoin predictions. To be honest, he seems rather confident to me. McAfee claims that his prediction is based on his own price prediction model, however, nobody knows what this looks like.
Market capitalization is used to work out the total value of an asset or business. It is calculated by multiplying the current market price against the total amount of coins or shares in circulation. The next Bitcoin price prediction that I wanted to discuss is by an analyst called Tom Lee. Lee works for the cryptocurrency research organization Fundstrat and he is well-known for discussing the price performance of Bitcoin live on TV. This particular researcher is highly experienced in chart analysis.
This is when you look at historical price movements of a coin and then make a future prediction based on how the coin has moved in the past. In reality, Bitcoin is probably the only cryptocurrency that you can do chart analysis. This is because other coins do not have enough trading volume or enough historical data, whereas Bitcoin has a track record of 9 years! The next Bitcoin price prediction I wanted to talk to you about is a really interesting one, performed by the analyst Osato Avan-Nomayo from Bitcoinist.
This prediction is based on the fact that in the Bitcoin mining reward will be halved from As you will see from the chart below, the Bitcoin mining reward has halved twice in its history. The historical price chart shows that when these two events happened, the price of Bitcoin experienced new heights shortly. Strajnar argues that adoption rates are increasing all the time, which includes more and more people using the network and an increase in wallets and apps.
This is a good argument because as more people buy and use Bitcoin, its price will of course increase. In fact, in countries such as Japan, there are more thanstores that you can spend Bitcoin in the real world. So, this also helps increase the price as it gives the cryptocurrency real-world usage. So, what do you think of the Bitcoin price predictions I have listed above? Do you agree with them, or are you still not convinced? I mentioned earlier that one of the most important things to consider when looking at the Bitcoin future price are real-world events, such as technical advancements and regulations.
I have listed some of the things below that could affect its price. Although Bitcoin is number one cryptocurrency in terms of market capitalization, reputation and real-world usage, the performance level of its transactions are actually quite poor. In fact, there are many other cryptocurrencies that are faster, cheaper and more scalable. Firstly, it takes what is bitcoin pdf 2020 minutes to confirm a transaction on the Bitcoin network. Other coins such as Ethereum can verify transactions in around 16 seconds.
Secondly, Bitcoin fees are now much higher than they used to be and now cost dollars rather than cents. Thirdly, and probably most importantly, Bitcoin can only confirm 7 transactions per second.
For example, NEO and Ripple Вами btrade bitcoin trading system nulled верно! able to confirm thousands of transactions per second, so if Bitcoin is to become a global payments system then it must improve what is bitcoin pdf 2020.
A company called Lighting Labs which has received investments from senior individuals from Twitter, PayPal, and Litecoin are very close to releasing a protocol that will significantly improve the performance of Bitcoin transactions. Known as the Lighting Network upgrade, it is believed that the protocol could allow the Bitcoin network to increase its maximum transaction limit to millions per second. Furthermore, transactions will also be much faster and cheaper.
If the Lighting Network is successful then it should have cryptocurrency the exchanges of top list very positive effect on the price of Bitcoin.
Even though Bitcoin has been trading for almost 10 years, regulation what is bitcoin pdf 2020 still in its very early days. There appears to be a theory that when governments start regulating it, the price of Bitcoin will be negatively affected. InJapan became the first nation in the world to completely regulate Bitcoin in the same way click at this page its financial services industry. In fact, the Japanese government classes Bitcoin in the very same way as its Yen currency.
Since this happened, Japan now has the highest trading volume in the world for Bitcoin. What is bitcoin pdf 2020 also use it every day in the real world as there are overstores that accept it! Once other major nations follow the same regulation policy as the Japanese government, it will give Bitcoin far more legitimacy. Not only would this mean that people start to trust Bitcoin more, but it could also allow large financial institutions to start investing.
Ultimately, if this is the case, the price of Bitcoin should increase. As mentioned above, there are more thanstores in What is bitcoin pdf 2020 that accept Bitcoin. Although there are also stores in other nations such as the USA and UK, the amount of stores is rather small. As more and more companies start to accept Bitcoin, it will allow people to start using it as an actual currency. On the other hand, if a really popular app decided to start accepting Bitcoin as its main currency, this would also give the coin more value.
Essentially, if Bitcoin can increase its real-world usage, we could see one of the really positive Bitcoin price prediction come true. Although Bitcoin what is bitcoin pdf 2020 always been the number one cryptocurrency, it is important to remember that there are more than 1, different coins in the market.
Although most of these projects have been built on top of other blockchain protocols such as Ethereum, there are also lots of individual blockchains.
There is no guarantee of which cryptocurrency will dominate in the future, so you should always research and keep on top of what other projects are doing. Furthermore, various central banks and governments are considering releasing their own cryptocurrencies too, which what is bitcoin pdf 2020 be in direct competition with Bitcoin.
Before I give you my own personal opinion, I wanted to make it clear that I am not giving you financial or investment advice. Just like the predictions I discussed above, nothing is ever guaranteed. You should always make a decision based on your own research, so please consider. Anyway, overall I believe that there will be multiple cryptocurrencies that play a major role in the future of transactions.
However, I think that Bitcoin will always be the most trusted and stable cryptocurrency of them all. Instead, I think it will act more what is bitcoin pdf 2020 a store of value. Note: A store of value is where people buy an asset to keep their money safe, just like Gold and Silver, in the hope that it increases its value.
In my opinion, although Bitcoin has been around for 9 years, it is still very early days. If more countries start to regulate it as Japan did, then I think it has a really good chance of increasing its price by However, in the very near future, I think the biggest event could be the installation of the Lighting Network upgrade. However, if you bought Bitcoin in late and held it up to now, what is bitcoin pdf 2020 would be significantly. If you believe in the ideology of the project, then it is best to hold your Bitcoin long-term, because at the moment the markets are still very volatile.
If you have read it from start to finish, you should now have a really good understanding of what Bitcoin is and what it plans to achieve. Do you agree with any of these Bitcoin forecast models or do you see a different story? If so, do you think its price will go higher, or alternatively, lower? I also discussed some of the future developments that could affect the price of Bitcoin, including an upgrade of its technology, regulations, future partnerships and its competition.
Do you agree with me that over the long-term, Bitcoin could be used more as a store of value, or do you think it will follow the original plan of its creator and read more used as a medium of exchange?
Whatever your thoughts are, please let me know your Bitcoin price prediction in the comments section below! Save my name, email, and website in this browser for the next time I comment. Bookmarked and shared. Thanks once again! This article gives good idea about the bitcoin prediction. Slow processing time is the reason why bitcoin is not adopted as mode of payment by. Because of this less and less people believe in it. Because of that the price of bitcoin is at a free fall.
Here you can learn more about How Bitcoin Works. That is automatically created when you open an account at a Bitcoin exchange. However, the price movement following the December low has not been identical to that after the January low. Popular cold storage wallet brands include Trezor and Ledgerand they also offer support for other cryptocurrencies. Doing so presents risks, but from their perspective, it is one of the greatest investment opportunities in history bitcojn a legitimate means of value storage and transfer outside of the traditional financial world. Now you know how to get started with Bitcoin! Bitcoin was the first decentralized digital currencyalso called cryptocurrency. The most common and usually easiest is to buy Bitcoin on a marketplace. All users decide together over the Bitcoin network and its rules. We end botcoin important continue reading safety along with some tips and advice. You can transfer money as easily as sending an email.