Are we heading in a Sucker Rally ? | Bitcointalksearch.org

HardFacts

member

Activity: 434

Merit: 29

Quote from: squatter on April 12, 2020, 04:34:36 AM

and economists alike have no idea what's going to happen.

Stupid people have no idea what is going to happen. There are PLENTY of guys that knew the ECONOMIC CRISIS was going to happen, what central banks reactions would be, and what is coming in the future..

Things will NEVER get back to normal, those days are OVER... The economic crisis will last long after the virus is cured....

EDUCATE YOURSELF

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: gentlemand on April 10, 2020, 03:30:40 PM

Unless an 'analyst' can tell me what's going to happen with this pandemic then I may as well consult my turds as they'll have just as valid a guess as them.

Fuck knows why anyone would even mention TA at a time like this. The world is waiting to see whether it's going to bounce back or fly down the toilet. That is what'll decide the future of everything including Bitcoin.

In general, I side with Andreas Antonopoulos on this topic. TA is already akin to astrology or reading tea leaves -- but especially at a time like this, when infectious disease experts and economists alike have no idea what's going to happen.

When things get back to normal, the inflationary effects of all the money creation will set in. There's a case to be made that money will flow into hard assets, including bitcoins. But who knows when things will get back to normal?

Kelvinid

sr. member

Activity: 2828

Merit: 344

win lambo...

Quote from: michellee on April 11, 2020, 05:35:35 AM

I am afraid we need to wait for more to see the rally because the market is not increasing higher and tend to stay at a price now, but the chance to go down will be there. Yesterday, the price started to down below $7,000, and we see that the price is at $6,850, and if many traders panic, the price can get lower than the price now. So you need to stay calm and don't panic because that will not help you to make the right decision if you panic.

It is really hard to find the rationally behind this fall. Yet, we surpass $7k in the past days but the market turns back down again. For it may be a kind of market manipulation or another panic selling again or there is actually a sucker rally happening around.
But anyway, I'm not a guy who easily gets frustrated when I saw the scheme like this and I just think this as a common thing to happen in crypto.

HardFacts

member

Activity: 434

Merit: 29

Quote from: verita1 on April 11, 2020, 03:56:49 AM

I also believe that due to the uncertainty caused by the Coronavirus, people are more concerned with basic needs, have stopped buying bitcoin and are buying other assets, and liquidity is declining, causing the price of Bitcoin to demonstrate this behavior.

NO, NO, NO... GOLD is not declining. Only BitCoin and other speculative investments are declining Cheesy

WISE UP

HardFacts

member

Activity: 434

Merit: 29

Quote from: fiulpro on April 09, 2020, 11:51:10 PM

According to analysts we are right now a part of a sukcer rally.

There have been SUCKER RALLY's in BitCoin before, and there will be again. The days of BitCoin go up in an Economic Bubble are OVER, OVER, OVER.

YES, you should be worried... Do not try to explain it away or rationalize it away just because you WANT to get rich, the universe does not care what you want. Ignore reality, and you can lose a lot of money Angry

Hard Facts

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

I am afraid we need to wait for more to see the rally because the market is not increasing higher and tend to stay at a price now, but the chance to go down will be there. Yesterday, the price started to down below $7,000, and we see that the price is at $6,850, and if many traders panic, the price can get lower than the price now. So you need to stay calm and don't panic because that will not help you to make the right decision if you panic.

verita1

member

Activity: 1358

Merit: 81

I also believe that due to the uncertainty caused by the Coronavirus, people are more concerned with basic needs, have stopped buying bitcoin and are buying other assets, and liquidity is declining, causing the price of Bitcoin to demonstrate this behavior. I hope the price does not decrease because once it has settled between 6K, the idea is for it to continue increasing.
Although it is difficult to pin down any theory today.
Guys, Stay Safe!

Viscore

hero member

Activity: 3178

Merit: 661

Live with peace and enjoy life!

Quote from: Quidat on April 10, 2020, 06:31:49 PM

Market can shift from time to time and theres no significant solid signals that we would be heading there on a specific time.Its all random.

That's the nature of crypto, that's why we also need to try to trade regularly so we can use its volatility.
Holding alone is not gonna help us if we keep looking at the market and we get affected by its movement, as it would only blow our mind.

Holders should be calm, willing to hold even if it will take years to make profit.

This market volatility now would not irritate us if we are relax and we believe on the future and if we take advantage to trade it.
When bitcoin pump, we think it will continue, but then again we are back below $7000 and it seems like the struggle still continues.

Quidat

hero member

Activity: 2702

Merit: 540

DGbet.fun - Crypto Sportsbook

Quote from: Oasisman on April 10, 2020, 06:05:24 PM

What's with that another market movements term? That's very similar to a dead cat bounce. These analyst can fire anything they want to say that really looks convincing to the investors. Nevertheless, they are just making things up based on how well or worst the market was performing.
This pandemic is putting a hold on a potential bull market caused by the block halving hype. So, that's where we can say that the buying and selling is close to being equal.

"Dead cat bounce" term is already been known in traditional markets like forex and stocks. Same goes with Sucker rally https://www.investopedia.com/terms/s/sucker-rally.asp

This is why i dont really care much into those so called analyst making out their predictions yet no one can precisely predict on where this market going. Even a simple Support
and resistance line are enough for me when making entry decisions.

Market can shift from time to time and theres no significant solid signals that we would be heading there on a specific time.Its all random.

Oasisman

hero member

Activity: 2716

Merit: 552

What's with that another market movements term? That's very similar to a dead cat bounce. These analyst can fire anything they want to say that really looks convincing to the investors. Nevertheless, they are just making things up based on how well or worst the market was performing.
This pandemic is putting a hold on a potential bull market caused by the block halving hype. So, that's where we can say that the buying and selling is close to being equal.

samcrypto

sr. member

Activity: 2044

Merit: 314

Vave.com - Crypto Casino

Those are just prediction on a current situation but they can’t tell what’s really happening on the market. We can all proclaim as an analysts but its hard to have a follower because people don’t usually listen to that because they know its just a speculation. I see a normal trend when bitcoin ups and downs, the situation right now might be different but its already part of the trend, if we see a correction then buy again.

Mahanton

hero member

Activity: 2730

Merit: 632

Quote from: mk4 on April 10, 2020, 12:53:54 AM

Sometimes bitcoin's price goes up, sometimes it goes down. Who cares what these "analysts" say? Most of them just wants the attention for their own benefit, and we're just casually handing it to them on a silver platter.

We cant get rid of those so-called experts into this market which they came from traditional markets and just giving out their sentiments into this place which is actually non-correlated
yet we know that TA's doesnt really have a high precision into this very unpredictable market.They can say all they want but we know that btc price can fucked you up on
least expected. Grin

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Unless an 'analyst' can tell me what's going to happen with this pandemic then I may as well consult my turds as they'll have just as valid a guess as them.

Fuck knows why anyone would even mention TA at a time like this. The world is waiting to see whether it's going to bounce back or fly down the toilet. That is what'll decide the future of everything including Bitcoin.

Yatsan

legendary

Activity: 2576

Merit: 1252

Leading Crypto Sports Betting & Casino Platform

Quote from: pooya87 on April 10, 2020, 12:42:52 AM

we just had the downtrend, in fact it was a gigantic drop and what we have right now is just the correction of that massive drop. it is not even a rally to be sucker or not! for the time being we have to continue rising to get back to normal then start having a rally. by that time we can start discussing whether THAT rally could continue upwards or not.

There were not even a price rally, all we have seen is a pure decline of the market most probably because of the pandemic disease that we are facing right now. Getting back to normal seems not that quite foreseeable as of now as the factors affecting the price is just too big to handle. If you see the market turning green that is not a rally, that is just recovering from what it have lost a few months back. The only good thing I see now is the bitcoin is up 30% over a course of year now, isn't it good?

pixie85

hero member

Activity: 2184

Merit: 531

What you are calling a rally to me is simply a recovery. A correction after a significant dump that took place last month.

Are you really saying that when an asset falls 20% and then goes back up by 15% it's a rally? Cheesy

A rally would be if we wendt back to 10 thousand and broke it reaching at something higher than 10,5. This would be a show of strenght and a real rally. We did not eben reach the point from which Bitcoin started to descent so it's not even a proper recovery at this point until we break above 9000.

kryptqnick

legendary

Activity: 3248

Merit: 1402

Join the world-leading crypto sportsbook NOW!

Quote from: fiulpro on April 09, 2020, 11:51:10 PM

According to analysts we are right now a part of a sukcer rally.

What is a Sucker Rally with respect to Bitcoins ?
"A sucker rally describes a price increase which quickly reverses course to the downside."

https://www.investopedia.com/terms/s/sucker-rally.asp

Why is Bitcoins suspected of driving the investors In a Sucker Rally ?
*The price is stable even though the market is being funded
*Even though money is coming in the market , the amount is still not working for Bitcoins 2.3 trillion , right after 6 trillion liquidity fund , Bitcoins have not shown a positive dip

According to the Analysts the Price was increasing 8%in a week approximately , but the Volume of Bitcoins was decreasing . . .

Therefore it has been believed that it is just a Sucker Rally.

https://cointelegraph.com/news/bitcoin-price-ignores-23t-fed-cash-as-pundit-warns-of-sucker-rally

What is your take on this ?
I do think instead of a Sucker Rally it is the economic situation affecting Bitcoins and the decrease in volume is directly related to people being scared to loose money when there isn't any during the Pandemic. Instead of a Sucker Rally maybe we are in a constant state where the buying and selling percentage is close to being equal.

Also the money that the Author talks about in the Article is indeed a huge amount but considering the fact that in the US alone the Death margin is at all time high and people are being infected + Reinfected by the virus , It is not skeptical that all the money might be used in the healthcare + decreasing the prices of common commodities .

Should we worry about it ?

But I do think the whole concept of Sucker Rally might be contradictory , since investors are coming in meaning the price will rise , even though it is not 8% , even at this time if it stays stable it will be a big help for the investors.

How do we plan on explaining the decrease in Volume as pointed out in the article?

I am not sure 'Sucker rally' is a real thing. I mean, I get what's called this way, but is it justified to signify it at a specific phenomenon, and does it apply to Bitcoin? Setting that aside, Bitcoin is not in the bear market, there is not enough evidence that lots of money are being poured into it, Bitcoin is not exactly rallying, and this kind of behavior between $6k something and $7k something is quite typical of Bitcoin. I think what's happening with BTC is that it's quite stable around $7k (give or take), but it's not ready to to break another barrier because the support is not strong enough.

Kemarit

legendary

Activity: 3080

Merit: 1353

I wouldn't categorically call this is a sucker rally, if it is then every rally and subsequent downside could be called as a sucker rally. We have seen this countless times and I would assume that crypto traders or investors are getting used to it by now. Everything still boils down to supply and demand, and people taking profits at a certain point, unless we are in a bull-run causing a big bubble like 2017. Nothing is specially seeing the price rebounding a huge drop then followed by profit taking.

fiulpro

hero member

Activity: 1890

Merit: 831

Quote from: Debonaire217 on April 10, 2020, 03:05:02 AM

I'm quite inactive for a week now because of the sudden internet interruption I had. Though, looking at the bitcoin graph now, it shows a good manifestation of volatility. Honestly, this is the first time I've read about the term Sucker Rally, but it is still unclear to me, what might be the reason of the price fluctuation this week. We had experienced a huge decline about a month ago, and we should have a good and healthy market now. My speculation was still directly focused on the reason that the current situation about lockdown is still the subject why this is happening. People might be afraid, but we shouldn't take it too much as there are more people who know how the market works and we are taking advantage of the market when that happens buy accumulating more bitcoins. That means our demand will push the price to avoid further market decline.

Indeed that is why I think the whole concept of Sucker Rally is something that Bitcoins can tackle due to demand and supply rule because of its highly volatile nature people tends to buy Bitcoins at this downside therefore people should actually stop influencing the market by posting videos online on YouTube and posting stuff on their Twitter so as how it is going to go down real fast.

Additionally I hope your internet stays fine , we all need it now more than ever.

pakhitheboss

hero member

Activity: 2156

Merit: 803

Top Crypto Casino

The price will definitely go below 6.8k level but it will also revert back and should reach 8k level by the end of this month. As per my understanding it is a correction that we will se as there was a sudden spike in the price of Bitcoin few days back. This is normal in every market and there is no correlation to what you are trying to explain in this post.

anoufal

newbie

Activity: 100

Merit: 0

I don't think that we are waiting for sucker rally, but the price will definitely fall.

Topic: Are we heading in a Sucker Rally ? (Read 263 times)