NEW TREND EMERGES AS BITCOIN STABILIZES NEAR $15 000 USD
A new trend has been spotted tonight that I have not seen since back in July! About 5 months ago I originally posted an article on STEEM about world markets finding common ground. I was asking the question back then if people thought that would mean a price increase or decrease for Bitcoin when BTC was 2700 USD last summer.
Tonight, as the world finds Common Grounds for buying Bitcoin, the crypto community is poised to usher in an era were Bitcoin futures are a reality. On some days of the week in the last month the price of Bitcoin has at times varied by thousands of dollars, in some cases in the most extreme example I remember a price difference of about $5000 USD depending on what market you purchase the crypto and what country a trader was buying Bitcoin. Tonight the spread for BTC on most crypto exchanges at the moment is around an $1100 USD difference, that may not sound very significant to some traders, keep in mind that Bitcoin is now traded on over 400 different markets as listed on CoinMarketCap, so for the spread to be about $1,100 USD difference across the globe is remarkable. The other night when Korea was paying $22,500 USD for a Bitcoin the US average price was between 17 and $18,000 USD which was significantly lower then what parts of Japan or Korea had been willing to pay.
Every time BTC markets find common ground the price of Bitcoin starts a new trend that emerges from the calmness. I am talking about kind of stability fair market prices offer, the kind of prices that allows for organic growth to occur in a way that's less volatile and seemingly more fair for traders looking to buy BTC who don't want to have to worry about the price a BTC being $4,000 cheaper in the afternoon or in another country a half an hour after one is willing to drop 15 to $20 000 USD for what? A 100 million digital codes we call Satoshi's that add up to a Bitcoin? In other words stability equals fairness which means the Blockchain atmosphere has plenty of space to grow in 2018 and beyond. What everyone really wants to know is, has the BTC run just started or is the crypto bag close to wrapping up?
As the world finds common ground for trading prices I don't expect a sudden rise to 50,000 or 25000 in a few hours or in a day or two I want that to be known, however this kind of stability is much more reassuring for purchasing large ticket item's considering the price tag is what it is at the moment, one single Bitcoin is not exactly a modest purchase these day's.
What effect will BTC future markets opening have on Cryptos like STEEM? What do you imagine happening with the price of Bitcoin in the next week or two as future markets are bracing for the Bitcoin Bonanza that's about to unfold?
Leave your comment in the section below I would love to hear your philosophy about the up-and-coming atmosphere and where you see Bitcoin by January 1st 2018?
Thanks for taking a second to check out this post and I look forward to reading your opinion of the current state of affairs in the crypto sphere.
Written by STEEM user: Jazmin Million
Keep in mind that the lowest price on the list is almost always bittrex and this is because the listed price is in terms of USDT (Tether) rather than in terms of USD. Lately Tether has been trading for 1.00-1.05 USD. This means the Bittrex price is often several % lower.
Thanks for the info.
45k Q1 2018
I dont hate the player or the game ;D
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I am also expecting great raise in BTC price because of its quick growth during previous few months.
I'd sure like to see the price of Steem go back up. That would be nice!
All coin price up know .
6 months from now traders who buy during these times will be laughing.
this :)
What do you mean?
I hate making predictions as I am almost always wrong. I would just stay diversified with different cryptocurrencies including Steem.
That is why I was careful to mention spotting a trend rather then calling a price.
Market stability is what many investors are waiting for and dream of! Very good point!
very help ful information. thanks for the information. greetings from steemians ACEH :)
Since, Bitcoin futures went live and drove prices up to $16,500.
I am watching the markets like some people watch the Olympics!
It's a nice topic, I've learned a bit more. Thank you.
does that mean bitcoin will stay at $15000 for a long time or forever?
I am guessing a slow steady 10 X climb if the last trend is any indication, before people ask WTF is going on, know what I mean?
i guess so. is bitcoin a bubble? some people say yes others say no. if it pops how is that going to happen?