Why Bitcoin Could Reach $23,000 Soon



Bitcoin has been dealing with off in opposition to altcoins as folks shift their funds from “ineffective” Bitcoin into altcoins they understand as helpful (which are sometimes ineffective as properly).

Steemit Put up:

In my final video, I discussed three potential catalysts that might trigger this cash to shift again into Bitcoin:

1) Onerous fork with a number of hype

2) Lightning Community which modifications narrative from “Bitcoin is gradual and ineffective, therefore will die” to “Altcoins solely benefit, velocity and affordability, simply was erased and Bitcoin already has the model and enterprise help.” Even when it DOESN’T find yourself being true, the typical crypto investor will possible really feel this manner.

three) Indicators that extra institutional buyers will bounce on board, similar to information on further derivatives and ETFs

As soon as eyes shift again onto Bitcoin, I believe its market dominance will enhance from its present stage all the best way as much as 50% once more. On the present cryptocurrency market cap, that might put Bitcoin at $23,000.

It is a pretty rudimentary and optimistic evaluation. The final time we noticed Bitcoin dominance fall this low was due to the specter of the Flippening (Ethereum taking on Bitcoin in market cap). When this occurred, Bitcoin recovered its dominance via a cryptocurrency selloff reasonably than a growth again in July (see video). Whereas Bitcoin offered off from $2,650 to $1,900, its dominance soared from 37% to 50%.

Why did this occur? Due to “flight to security” – as insane because it is because of its volatility, Bitcoin is definitely the “protected” asset on this loopy market. It is also a high quality asset because it has had a protracted monitor report together with big group and developer help. What adopted everyone seems to be conscious of: The crypto market went growth and Bitcoin retained its 45 – 55% market dominance for some time.

Nonetheless, from October to December, Bitcoin had a loopy bull run which shifted dominance as much as above 60%. Simply final month, Bitcoin’s dominance reached 65%. But everybody is definite that dominance will proceed to tank on account of being at an all-time low. I disagree with this evaluation and consider a restoration to 50% (which Bitcoin has tended to hover round over previous few months for the reason that altcoin growth final 12 months) is within the playing cards quickly.

Even within the occasion that the market goes down, Bitcoin stays a safer possibility than different cryptocurrencies. For the report, this implies I’m NOT promoting Bitcoin at $17okay anymore. Within the occasion of a continued cryptocurrency bull run, Bitcoin is properly positioned in opposition to different cryptocurrencies and will simply see $20okay+ quickly. What are your ideas?

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36 comments

  1. UPDATE: Surprising amount of people who don't get why I suddenly turned bullish after being bearish, not seeing what changed in just 6 days so let me break it out. When I made the bearish video on Bitcoin, the total market was at $550b (go check it out in that video). I said during that video that I suspected Bitcoin to fall, but that I liked Bitcoin over altcoins as I suspected it would do better during a fall.

    Now the altcoin market has boomed and the total market cap of cryptocurrencies has gone up to $770b, or about 40% increase. $145b of that went into altcoins. I suspect a lot of that capital will shift back to Bitcoin – meaning that EVEN IF the market declines and EVEN IF no capital comes into the market, Bitcoin has tons of room to grow. Why? Because I think dominance will go back to 50%. Why? Because of the three catalysts I mentioned in this video as well as last.

    Original Comment:

    I think Bitcoin has some real potential to explode soon. Obviously I am prepared for the opposite to happen, but I'm betting my money (and portfolio allocation) on it. Here are my written thoughts: steemit.com/bitcoin/@cryptovestor/why-bitcoin-could-reach-usd23-000-soon. Want live updates from me? Check my Twitter out: twitter.com/Truth_Investor.

  2. 2 weeks ago: Why I'm Negative on Bitcoin
    Now: Why Bitcoin Could Reach $23,000 Soon

  3. Inb4 crypto investor makes another video on why bitcoin will go back to $10k, why he should have sold at his target of 17k and why he’s bearish on bitcoin now.

  4. In my view the new crypto coin will be having a great profits if i hold BITCOIN RAMP ICO is live https://btcramp.com

  5. time to make a new video friend 😉

  6. Well you know how that turned out

  7. EVX is going to moon

  8. Hi, you have to warn people from using Coinbase and GDAX, i send money from Poloniex to GDAX. The money went through Coinbase, and stuck there. The transaction say complete on Coinbase but for the last 10 days no money is coming thru to GDAX. I have triad to write them everyday with no response, they are stealing peoples money. I am not the first and not the last, take your money and run, and please make a video warning people from them. I have lost a lot of money just like many others https://se.trustpilot.com/review/coinbase.com

  9. What about the new 2018 IRS tax laws concerning cryptos? I'm under the impression that the new tax laws will make bitcoin's price drop.

  10. Some in this comment section are absolutely retarded drama queens. Of course market analysis will change with an ever changing market. Lol it's not that complicated

  11. only 23k? why not 30 – 50? although now that the usdt exchange appear to be losing their position on top, I don't expect too see the same crazy gains we'd been seeing, which is deep speculation and hopefully completely untrue.

  12. It's time for BTC to show who really is the king of crypto.

  13. Watch my review about Qbao (QBT) on my channel. You will be surprised!

  14. you mentioned that most people don't use cryptocurrencies, they're just investment vehicles. i've been wondering about that.

    are there some coins that are bought more or even primarily for use? if so, how do they perform as investments vs the more "investment only" coins?

    thank you

  15. SwissBorg There is a Swiss token CHSB which will overtake everything in 2018 🚀 there is information that Roger Silverstein should have invested the son of Larry Silverstein 🧐

  16. You are a huge wealth of information for a new comer like me, thanks for all the info
    I have leaned a lot by watching your videos, Please keep up
    with the good work.

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  18. this is what i did….. 0,1 bitcoin…… 0,1 bitcoin cash.. 0,2 ethereum

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  22. Bitcoin Cash is better, but you can't beat the branding of BTC, everyone will always psychologically see BCH as a BTC wannabe plus Roger Ver already tainted BCH even though it's better. Blockstream bought out BTC years ago. People think developers are volunteering to build the lightning network for free?!? Collaborations and going through agile sprints without getting paid?!! Blockstream wants a return on investment through lightning network. Lightning network may be centralized, we don't know yet. If it's truly decentralized expect BTC, LTC, and VTC to sky rocket. If they're found to centralized through lightning expect the death of those cryptocurrencies.

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  24. It will. Patience. 14k by end of Feb. 23k by end of May

  25. BITCOIN DOES NOT PAY OUT ANY PROCEEDS!
    there are no dividends, there are no pay-outs.
    therefore bitcoin CANNOT be a ponzi scheme.

    if you don't understand what ponzi scheme means, here is the wiki page:
    https://en.wikipedia.org/wiki/Ponzi_scheme
    read the very first line of wiki's definition:
    "A Ponzi scheme (/ˈpɒnzi/; also a Ponzi game)[1] is a fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors"
    there are NO RETURNS, NO PAYOUTS, NO DIVIDENDS, NO REVENUE in bitcoin.
    do you get the picture yet?

    you can argue that bitcoin is overpriced, or in a bubble, but you cannot factually claim that bitcoin is a ponzi scheme.

    AGAIN if you do not understand BITCOIN then do NOT invest in it . It's as simple as that .

  26. sorry sir, what is your micphohe?

  27. Don't invest in bitcoin you total cock heads lol. Wake up. Stop taking some moral ground or making a stand against the big banks / keynesian economics. You guys are trading with emotion, they will rape your ass non stop till you have no clothes left. Do not listen to this peanut in the video if you want to actually have wealth. Just think about what you're actually investing in. THINK ABOUT IT FOR A SECOND. You are investing in an money exchange asset, in a society that most people see nothing wrong.

    I'm putting this comment for the future, so i can look back 1 year from now and say i was right. bitcoin will bounce around 1 or 2 k in the next few years. It will then move into the hundreds then pretty much useless in 10 years.