Can Bitcoin Break Out Above $20,000?

[edgarf76]

Finally, Bitcoin has gotten above 19K but has retraced to 18,917.80 (at the time of writing this post). I think that Paypal offering crypto helped push the price up. However, the CEO of Coinbase said regulations are coming, which will affect the price to the downside. I think we go down closer to 10K from here. What do you guys think?

 

[KasinoKing]

When it comes to Cryptos - ANYTHING can happen.

I invested in various other coins 2 years back when everything looked to be heading upward, and got seriously stung in a big way.
Most coins in my portfolio are only worth 10-20% of what I paid for them

I still feel that the vast majority of alt-coins are just a con - set up by clever people to make a LOT of money very fast and leave investors with next to nothing.
Still, thanks to the big upswing in the Btc price 3 years ago I am well in profit overall - so can't really grumble

KK

 

[Jetman]

In my opinion we are in for one hell of a ride. 2021 will be extremely bullish imo. But its true, the ups and the downs in the crypto market are insane. It might go back to 10 k but I doubt it. Just my 2 cents!

 

[edgarf76]

I think we are going back closer to 11,500Kish before we break 20K. The things I find interesting are that Ethereum, Litecoin, Bitcoin Cash and other cryptocurrencies haven't run even close to where they were when Bitcoin hit its highs in 2017.

 

[bettingappguide]

Wow............above 20k today!

 

[edgarf76]

Wow............above 20k today!

yep, it hit 20K. I can't believe it. I was thinking could rebuy after it retraced but trimmed majority of the position. Nevertheless, Congrats to the people that held on!

 

[bettingappguide]

Toped out at just under $20,700. Gulp

 

[bettingappguide]

Just checked......over 22.3k today

 

[melcb]

Over $30K!

 

[bettingappguide]

Over $30K!

Great isn't it! Wonder how high it will actually go before it tops out

 

[talkingcasinos]

I think it may have reached its peak. I'm not sure how much higher it can go.

 

[Lucy CBC]

Whop whop, amazing start of 2021 from that point of view! Big fans here, since a long time now... always knew it will overcome the $20K threshold, just a lot of patience required

 

[slotplayer]

I asked in the other forum but I'll ask here to see if anyone knows.
I sent from Electrum wallet to exchange but the status says unpaid after 3-4 hours now.
Been so long since I did it I forget if that's normal or I messed up.

Thanks

 

[Lucy CBC]

I asked in the other forum but I'll ask here to see if anyone knows.
I sent from Electrum wallet to exchange but the status says unpaid after 3-4 hours now.
Benn so long since I did it I forget if that's normal or I messed up.

Thanks

It happens, especially when there's a lot of activity on the blockchain...it also depends on the type of fee you've chosen. When the fee is lower, it takes longer and might be stuck for a while. When you're dealing with higher amounts best is to go for the higher fee and avoid wait longer. Not sure if Electrum allows you to change the fee during the process, perhaps check that and see if it works to increase the fee and speed the process, cheers!

 

[slotplayer]

It happens, especially when there's a lot of activity on the blockchain...it also depends on the type of fee you've chosen. When the fee is lower, it takes longer and might be stuck for a while. When you're dealing with higher amounts best is to go for the higher fee and avoid wait longer. Not sure if Electrum allows you to change the fee during the process, perhaps check that and see if it works to increase the fee and speed the process, cheers!

Thanks, Electrum does allow selecting the fee, I did the lowest fee so its 25 blocks.
I really should have done this when it was $10k+ higher.

 

[edgarf76]

I really can't believe this move. Its pulling back today but it is a monster. I think Litecoin, Etherum and Bitcoin Cash have more of an upside as they have not broken through their old highs. However, what if they never get back to their old highs (like tech stocks in 1999). Thoughts?

 

[TheGooner]

I think Litecoin, Etherum and Bitcoin Cash have more of an upside as they have not broken through their old highs. However, what if they never get back to their old highs (like tech stocks in 1999). Thoughts?

My thoughts are that you need to use the dot com boom and bust as a guide.

- Back in the late 1990's anything to do with the internet was hyped to succeed.
- Stocks surged for 18 months and then reality hit and most internet stocks dumped and bust.
- But the internet did arrive and the best ideas, like Amazon, ebay, apple and a few others thrived.

So it is with Crypto currency and blockchain. The idea is right - it's time will come but only a few coins have any purpose.
95% of the tokens are trash. Another 4% of the market will probably struggle as they lack users / money /innovation.

As an example here are coins that were in the top 30 in Dec 2017. Had promise but are now faded badly.
Source : https://coinmarketcap.com/historical/20171217/

#7 IOTA, #9 NEM, #13 EOS, #14 NEO, #16 TRON, #17 QTUM, #18 Bitconnect, #19 Populous, #20 OmiseGo, #21 Lisk, #23 Waves, #25 Stratis, #26 Bitshares, #27 Ardor, #28 Hypercash, #29 Bytecoin, #30 Nxt

Some of them are still here. But none of them are booming. And most are failed projects.

--------------

My specific thoughts - having spent 5-6 years in and around this space ...

BTC and ETH? Yes I think they survive and Thrive. First and still best used.
There are some others like ChainLink, PolkaDot and UniSwap that also seem like leaders in their associated fields.

LTC and BCash? No. Might survive - but they're copy tokens with no USP.
Cardano? XRP? Stellar? They need to grow or wither away like bad internet stocks.

 

[Strider1973]

Electrum does allow selecting the fee, I did the lowest fee so its 25 blocks.

There's no guarantee it will be processed in 25 blocks (1 block = about 10 minutes). Just increase the fee in Electrum if it's urgent.

 

[ARZ]

Strange is, that people most buyed Bitcoin when it hit the 30k border. More shout, more buys, bigger price.

 

[Lucy CBC]

There was another wave 3yrs ago, when it had reached the 20k threshold, it all became popular and trendy. Everyone was super excited, becoming experts in the field. And then when it dropped again, nobody saw it coming, many sold at low prices...I always said they need to be patient and do some solid research as to the past patterns and as to the actual value of some of the projects....let's see what's next