What's going to push bitcoin to 200k?

[roydan]

The only thing that would help bitcoin get to 200/300/500k is if people that already have some will feel that having more is worth paying 200/300/500K.

We want it to cross the 100k, but we don't go around buying bitcoin, we sit and wait, and this is why it doesn't go up. This is the definition to market resistance.

 

[WAndreas]

If we just talk about the price prediction while keeping aside the countries' adoption things then I would say the crypto market is manipulating the market anything can happen at any time in just a fraction of sec or minutes

Even 500K - 1 million possible if whales decided to take the Bitcoin on top

We retailers can invest and trade crypto wisely in the same way as any other stock aspect

Yes! Absolutely! But we don't know what they have in mind. We don't have access to the information they have. So we just have to guess. Like that rally that took place not so long ago.

We want it to cross the 100k, but we don't go around buying bitcoin, we sit and wait, and this is why it doesn't go up. This is the definition to market resistance.

Well, look, there's absolutely nothing depending on us here. Absolutely not. We don't decide anything. My $100, $500, $10,000 is not gonna move the price. Even if there are a lot of people like me. We don't set the levels. That's my point.

 

[Crytononame]

But, listen, the yuan that is traded on the stock market is also outside of China. In other words, it's the same yuan that's traded on the forex. No?

You're asking about the 'free' yuan traded on the stock market and forex? Let me tell you a real-life story. People bought yuan on the Moscow Exchange, only to find out that no Chinese bank would accept it. So, tell me, is the yuan traded on the stock market or forex truly freely convertible?

 

[Nikolaos]

I think I know a driver that could send bitcoin to 200k in early 2025. And that driver is China. When they banned mining, the hash rate dropped by half. That could speak volumes. They currently have cryptocurrency under a complete ban. But if the U.S. does start creating a bitcoin reserve, China won't be able to stay away. This could result in a technology race. Which will propel bitcoin into a new orbit.
What do you think?

I think you're correct. China needs to find a way to mine more bitcoin for its reserves. And I can see bitcoin reaching 1.000.000$ sometime in the future.

 

[WAndreas]

So, tell me, is the yuan traded on the stock market or forex truly freely convertible?

Of course not. But the question was whether it was available for trade, right? And on the same exchange, I saw people online making money on it and withdrawing their profits. So what difference does it make whether it's accepted or not in China? It allows you to make money - that is the main thing. That's what I think.

 

[hellz angle]

don't think will be this cycle at all maybe in 2030 then

 

[WAndreas]

I think you're correct. China needs to find a way to mine more bitcoin for its reserves. And I can see bitcoin reaching 1.000.000$ sometime in the future.

Let's see how things develop with the creation of a bitcoin reserve in the US, perhaps this will also provide another driver at the end of January.

 

[lanmaok]

Brother, how many bitcoins do you have? Bitcoin will only appreciate, not depreciate. You can treat Bitcoin as a collectible.

 

[ESCROWService]

I think I know a driver that could send bitcoin to 200k in early 2025. And that driver is China. When they banned mining, the hash rate dropped by half. That could speak volumes. They currently have cryptocurrency under a complete ban. But if the U.S. does start creating a bitcoin reserve, China won't be able to stay away. This could result in a technology race. Which will propel bitcoin into a new orbit.
What do you think?

Asking myself how delusional crypto ........ can be.

You have completly no understanding what this is.
This is not about bitcoin this is about gold.
US and China agreed a decade ago that chinese yuan will get also world reserve currency.
But to achieve that they need lots of gold to backup their currency with value.
So US politicans start talking about selling western physical gold to buy BTC for it to add it into their reserve.

https://www.bloomberg.com/news/articles/2024-11-14/trump-s-ally-lummis-pushes-to-sell-some-of-the-fed-s-gold-to-buy-bitcoin

So to justify the selling of western physical gold in exchange of worthless bitcoin is nothing else but the transfer of our western society gold which is backing our curreny to
the rest of the world including china.BRICS countries will have their new digital currency backed by gold funded by western idiots and we will have a digital currency backed by nothing other than BTC.
In god and the stupidty of society we trust.

As USA could not simple borrow 20 billion USD to buy the bitcoin via debt but need to sell part of their gold reserves.....

Ha Ha how stupid can a society be to belive in that crap

Even 500K - 1 million possible if whales decided to take the Bitcoin on top

The possibility of that is exactly as high as the possibility crypto fanatics getting magicly an average of IQ200

 

[Byricret]

I think I know a driver that could send bitcoin to 200k in early 2025. And that driver is China. When they banned mining, the hash rate dropped by half. That could speak volumes. They currently have cryptocurrency under a complete ban. But if the U.S. does start creating a bitcoin reserve, China won't be able to stay away. This could result in a technology race. Which will propel bitcoin into a new orbit.
What do you think?

200k is possible, but I don't think that's it's going to happen in 2025. Although, anything can happen in the cryptocurrency markets.

 

[JB2302]

Time.

everything will be expensive.

 

[Ripley545]

China has historically played a significant role in the cryptocurrency landscape, particularly in Bitcoin mining. The ban on mining in 2021 led to a redistribution of mining power, with major operations moving to other countries. If China were to relax its stance on cryptocurrencies, it could potentially reinvigorate mining and trading activities within its borders, which might have a significant impact on Bitcoin's price due to increased demand.

The idea of the U.S. creating a Bitcoin reserve could certainly spur interest and investment in Bitcoin. If major economies, like the U.S. or China, engage more heavily in Bitcoin, it could lead to increased institutional adoption and drive prices up. Bitcoin's price is significantly influenced by market sentiment, regulatory news, and macroeconomic factors. Positive developments in these areas, especially from major players like the U.S. and China, could create upward momentum.

 

[champp]

I think I know a driver that could send bitcoin to 200k in early 2025. And that driver is China. When they banned mining, the hash rate dropped by half. That could speak volumes. They currently have cryptocurrency under a complete ban. But if the U.S. does start creating a bitcoin reserve, China won't be able to stay away. This could result in a technology race. Which will propel bitcoin into a new orbit.
What do you think?

I think this is a great prediction. I think when the Feds money printer go brrrr brrrr Bitcoin goes boom boom

 

[WAndreas]

As USA could not simple borrow 20 billion USD to buy the bitcoin via debt but need to sell part of their gold reserves.....

So their stockpile is based on confiscated bitcoins, not purchased bitcoins. For now, anyway.

 

[WAndreas]

200k is possible, but I don't think that's it's going to happen in 2025. Although, anything can happen in the cryptocurrency markets.

That's for sure. That was quite a rally. It would seem that there was nowhere to go, but the flight continued. The most interesting thing is that when the price was already there, it is possible to assume something. But when the price updates historical maximums time after time, it is quite difficult and impossible to understand where it will stop. I don't know how to do it.

 

[WAndreas]

I think when the Feds money printer go brrrr brrrr Bitcoin goes boom boom

At that point, you'll need to resist doing a bang bang bang.

 

[Crytononame]

It allows you to make money - that is the main thing. That's what I think.

You've read all my posts, right? So you must understand the system these currency speculators have built to trade the yuan without losing a dime

 

[doubledhamal]

I think I know a driver that could send bitcoin to 200k in early 2025. And that driver is China. When they banned mining, the hash rate dropped by half. That could speak volumes. They currently have cryptocurrency under a complete ban. But if the U.S. does start creating a bitcoin reserve, China won't be able to stay away. This could result in a technology race. Which will propel bitcoin into a new orbit.
What do you think?

There is very less chance that they will unban it. But if bitcoin exploded from here to say 20x in 5 years, they might be forced to rethink.

 

[idajsursahdutu]

Before China banned mining in 2021, more than 65% of Bitcoin’s hash rate came from China.

 

[WAndreas]

There is very less chance that they will unban it. But if bitcoin exploded from here to say 20x in 5 years, they might be forced to rethink.

That's what I was thinking, too. To get a good driver, it has to be unexpected. Only in this case the performance can be maximized.