[2017-04-14] Markets Update: Bitcoin’s Battle Against the Bear Market

Slow death

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Quote from: jackci123 on April 15, 2017, 12:37:17 AM

for me i can see that bitcoin have to go much lower soon maybe around $900 range in the next days or hours and much lower for the next weeks,months for many reasons

Do not talk like that, because some people panic and if bitcoin drops to $900 I will be with huge damages.

Let's be optimistic.

Quote from: https://news.bitcoin.com/markets-update-bitcoins-battle-bear-market/

Bear Scenario: If the price of bitcoin continues to decline, the value may fall below the $1100 mark and further increase below the 4-digit range. In the press order books of time and depth charts show that there is a strong floor around the price of $1125. The RSI and stochastic trend lines demonstrate that the price per BTC can be over-bought and more corrections can come to short term.

Bull Scenario: Charts also show "double bottom" trend lines may bring the price back above $1200 in the near future. 100 and 200 SMA indicators show that this could be the case as buyers could take control over the market fairly easily. At the moment there are significant selling walls above the $1200 mark, and it will take some time to break the current resistance.

We have 2 scenarios, I will twist to the second scenario

Iranus

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Quote from: jackci123 on April 15, 2017, 12:37:17 AM

for me i can see that bitcoin have to go much lower soon maybe around $900 range in the next days or hours and much lower for the next weeks,months for many reasons
block size reached fud , segwit fork fud ,USAF fud , bitcoin unlimited fud , china withdrawal suspend fud , bitfinex and wells Fargo frozen funds fud , all those fear, uncertainty, and doubt have to be cleared before we see a real rise in bitcoin price , yes alt coins take the scene and this is normal when you have all this fud for bitcoin in real many of my friends moves most of their bitcoins to ETH , XRP and some other alt coins because all that fuds bitcoin have which makes some people even think that bitcoin can be a history and the alt coins will take his place in the next years .

Seems unlikely. These things have sort of balanced out as the panic of something actually happening soon has started to fade. It looks like the lack of a consensus is actually lowering the amount of uncertainty, which is definitely helpful to the market. People shouldn't be moving their funds to ETH or something, they should be balancing their funds between cryptocurrencies and using them where they can. In reality many coins aren't being used by any merchants and are only used as a means for people to gain more money - Bitcoin also has few real uses currently but its position and the reason that it exists will be as a master currency for major transactions and a store of value. This certainty will keep the price up.

This drop is just a correction. It was clearly pumped, possibly due to the possibility of Litecoin SegWit which is now starting to fade as it's getting blocked - the pump is just fading away to a more stable or normal Bitcoin price.

I would say that the price is going to go sideways for a little while. Breakouts seem pretty unlikely and Bitcoin is reaching temporary stability.

jackci123

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for me i can see that bitcoin have to go much lower soon maybe around $900 range in the next days or hours and much lower for the next weeks,months for many reasons
block size reached fud , segwit fork fud ,USAF fud , bitcoin unlimited fud , china withdrawal suspend fud , bitfinex and wells Fargo frozen funds fud , all those fear, uncertainty, and doubt have to be cleared before we see a real rise in bitcoin price , yes alt coins take the scene and this is normal when you have all this fud for bitcoin in real many of my friends moves most of their bitcoins to ETH , XRP and some other alt coins because all that fuds bitcoin have which makes some people even think that bitcoin can be a history and the alt coins will take his place in the next years .

TwoTimes

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The fiat value of bitcoin has seen a decline over the past 24-hours as the price per BTC dropped from US$1215 to a low of $1140 across major global exchanges. At press time, the price is on the rebound hovering around the $1170-1180 range, but the market is showing no signs of fending off sellers.

Bears have taken over the price of bitcoin as the cryptocurrency’s market value is trending downwards. Bitcoin daily trade volume has also dropped to under $300 million worth of BTC trades. There hasn’t been any significant headlines pointing to the reason behind bitcoin’s price drop. At present markets look undecided, and a breakout is possible in any direction.

Read More Here >>> https://news.bitcoin.com/markets-update-bitcoins-battle-bear-market/

Topic: [2017-04-14] Markets Update: Bitcoin’s Battle Against the Bear Market (Read 364 times)