Topic: Big pop up again - page 2. (Read 1669 times)
The steady, lazy and low bitcoin price movement can tell us all that the bearish market is not yet over. It sometimes frustrates me to see how long the market has been into this trend that is why i just want to stay away from the market or listening to someone else's predictions.
This is what Wall Street call "price discovery". Its the point where they cant suppress the price any longer.
But the issue remains: will it go up from there? Will this bottom go up? Or will the price keeps swinging over it?
We’ve been here so many times this year, and seeing the previous price movement, always a bounce back after hitting this level. Maybe the theory of the OP is right since the support level are strong between the price range of $5k-$6k where buyers and sellers agreed the bottom price. No one can answer your question but as an optimist hodler, Maybe we see a new bottom but I know it will to rise again.But the issue remains: will it go up from there? Will this bottom go up? Or will the price keeps swinging over it?
IMO institutional investors have buys just under the $6000 mark. Which is why it's holding above that level. What is missing is retail investors - they've been scared away by the price drop from $20,000 plus all the drama with fees at the end of last year.
For what it is worth, I guess we can pretty much assume that this point forward, we may actually start consolidating and swinging between this price range until the market is ready to pick up eventually.
As we approached sub $6k and actually hit $5.9k... we see another huge pump to $6400. Impressive, a $500 dollar move up just like that, on a single candle. Someone bought a pretty decent amount of coins.
The theory of how that $5k-6k price range is the diamond solid ground in which miners will never let bitcoin go below is shaping up. Governments want to take the price down and tank it so they can buy it all but someone (maybe rich miners and other whales) keep using that range as the reverse point. Let's see if it holds. We have touched this same point so many times that the theory might be right.
The theory of how that $5k-6k price range is the diamond solid ground in which miners will never let bitcoin go below is shaping up. Governments want to take the price down and tank it so they can buy it all but someone (maybe rich miners and other whales) keep using that range as the reverse point. Let's see if it holds. We have touched this same point so many times that the theory might be right.
We can absolutely expect for a huge pop up again due to the market price that is currently dropping and that is the reason why we should invest today.
Big pump for bitcoin is near for sure , waiting is the key to see that, but you need to buy more bitcoin to pump the value of this coin.
But if the people continue to sell their bitcoin that they have maybe instead of seeing again big pump it turn into big dump again and everyone will sacirfice on that because we lost most of our capital. Unity is the best key if they want to have achieve your goal.
But if the people continue to sell their bitcoin that they have maybe instead of seeing again big pump it turn into big dump again and everyone will sacirfice on that because we lost most of our capital. Unity is the best key if they want to have achieve your goal.
2017 demand was obviously a manipulated pump all in the name of trying to get gullible smaller investors into the market and we have all seen the outcome so far. For now, I guess we just have to wait to see how far this $5k region is going to end up holding until further notice.
i agree with the first part but this part i can not agree with.
what happened in 2017 was not a pump, there was manipulation but the rise to $20k would have happened anyways and it is not because of manipulation, it was because a lot of money was coming in during 2017 and that kind of rise is what naturally happens when you have a tiny market with thin order books which can not have any kind of resistance against that kind of money so the price shoots up.
it was real demand, if you check the news reports you can see for instance coinbase used to have about 1 million new users every couple of days! and those people were coming in because everywhere you looked you could see bitcoin was discussed.
However, the question is how this money came into the market. Actually, I would not say that was because there was a real demand for it, or because a lot of people are seeing the long term prospect in being a part of the future, it is simply because most people that join FOMO just want to get rich overnight, while the real believers buy the bottom.
As long as there would be weak hands, market will always be pumped and manipulated by the whales, to feed on those greedy fellows who their only mission is to see ways they can obtain so much from the market in a short term. By the way, pump and manipulations is concurrent in nature.
2017 demand was obviously a manipulated pump all in the name of trying to get gullible smaller investors into the market and we have all seen the outcome so far. For now, I guess we just have to wait to see how far this $5k region is going to end up holding until further notice.
i agree with the first part but this part i can not agree with.
what happened in 2017 was not a pump, there was manipulation but the rise to $20k would have happened anyways and it is not because of manipulation, it was because a lot of money was coming in during 2017 and that kind of rise is what naturally happens when you have a tiny market with thin order books which can not have any kind of resistance against that kind of money so the price shoots up.
it was real demand, if you check the news reports you can see for instance coinbase used to have about 1 million new users every couple of days! and those people were coming in because everywhere you looked you could see bitcoin was discussed.
We talk about how the whales are trying to buy at $6k levels but we are forgetting a simpler understanding of economics while we do that.
If someone wants to drop the price they must first have enough bitcoin to sell and drop the price which would mean a lot of bitcoin and can affect the price yet lets assume there are people who have enough money to buy without maxing the price but sell while dropping the price at the same time, they will also buy again which means they will be increasing the price all by themselves, I doubt anyone can handle that at the same time, you both need to buy without increasing, sell while dropping and buy again without increasing.
Those whom don't seems to cease opportunities goes into whining about the price. Don't be suprised if it's the government that keeps on manipulating price so they can stock up their wallet. For their own benefit, they may be the whale investors we keep talking about that. If someone wants to drop the price they must first have enough bitcoin to sell and drop the price which would mean a lot of bitcoin and can affect the price yet lets assume there are people who have enough money to buy without maxing the price but sell while dropping the price at the same time, they will also buy again which means they will be increasing the price all by themselves, I doubt anyone can handle that at the same time, you both need to buy without increasing, sell while dropping and buy again without increasing.
We talk about how the whales are trying to buy at $6k levels but we are forgetting a simpler understanding of economics while we do that.
If someone wants to drop the price they must first have enough bitcoin to sell and drop the price which would mean a lot of bitcoin and can affect the price yet lets assume there are people who have enough money to buy without maxing the price but sell while dropping the price at the same time, they will also buy again which means they will be increasing the price all by themselves, I doubt anyone can handle that at the same time, you both need to buy without increasing, sell while dropping and buy again without increasing.
If someone wants to drop the price they must first have enough bitcoin to sell and drop the price which would mean a lot of bitcoin and can affect the price yet lets assume there are people who have enough money to buy without maxing the price but sell while dropping the price at the same time, they will also buy again which means they will be increasing the price all by themselves, I doubt anyone can handle that at the same time, you both need to buy without increasing, sell while dropping and buy again without increasing.
2017 demand was obviously a manipulated pump all in the name of trying to get gullible smaller investors into the market and we have all seen the outcome so far. For now, I guess we just have to wait to see how far this $5k region is going to end up holding until further notice.
i agree with the first part but this part i can not agree with.
what happened in 2017 was not a pump, there was manipulation but the rise to $20k would have happened anyways and it is not because of manipulation, it was because a lot of money was coming in during 2017 and that kind of rise is what naturally happens when you have a tiny market with thin order books which can not have any kind of resistance against that kind of money so the price shoots up.
it was real demand, if you check the news reports you can see for instance coinbase used to have about 1 million new users every couple of days! and those people were coming in because everywhere you looked you could see bitcoin was discussed.
Looking at how the price moved this year, i think there's logic behind what you said dude and probably that's why all these speculations indicating that we'll bottom out at 4 or 3k isn't that valid. Whales and high holders have the say in this kind if market.
only to an extent. whales and large miners can withhold coins from the market, but nobody has this market cornered. and as the years go by, coins become more and more distributed. something like 5-10% of americans now own crypto. so the whales of yester-years really aren't as important anymore.
what matters most is all the supply from bagholders from 2017 (including institutions like novagratz' fund etc) and whether or not organic demand can outweigh that.
That's the big problem we are facing is the heavy supply weighing down from above. There needs to be more organic demand and not just algos driving the price up for short periods. I'm a bit worried about the future of bitcoin because of that. These futures contracts are no good in my opinion, and the ETF won't make a big difference either.
What would really help bitcoin is more trust and widespread adoption by major figures who actually use the coin for what it was intended for, rather than just quick swaps or pump & dumps.
2017 demand was obviously a manipulated pump all in the name of trying to get gullible smaller investors into the market and we have all seen the outcome so far. For now, I guess we just have to wait to see how far this $5k region is going to end up holding until further notice.
Looking at how the price moved this year, i think there's logic behind what you said dude and probably that's why all these speculations indicating that we'll bottom out at 4 or 3k isn't that valid. Whales and high holders have the say in this kind if market.
only to an extent. whales and large miners can withhold coins from the market, but nobody has this market cornered. and as the years go by, coins become more and more distributed. something like 5-10% of americans now own crypto. so the whales of yester-years really aren't as important anymore.
what matters most is all the supply from bagholders from 2017 (including institutions like novagratz' fund etc) and whether or not organic demand can outweigh that.
That's the big problem we are facing is the heavy supply weighing down from above. There needs to be more organic demand and not just algos driving the price up for short periods. I'm a bit worried about the future of bitcoin because of that. These futures contracts are no good in my opinion, and the ETF won't make a big difference either.
What would really help bitcoin is more trust and widespread adoption by major figures who actually use the coin for what it was intended for, rather than just quick swaps or pump & dumps.
frankly we could be a lot lower than we are. I'm grateful for that.
Give it time. This bear market may continue for years. Just like it's been after MtGox crash
It is different this time. There are more users this time. The bear market could finish in the next few months.
May be the number of participants are more but the price is low that is indicating that we sell in low market that is contributing to the price go down back and this repeated several times. We have to stop expecting for high or bull market because we are not stopping this mistake of selling in low market. The price has declined again and dropped at 6000 US dollar which is highly achievable so we can look for buying more this time.
In last few days market is fluctuating up and down in more quicker which may signal up for strong trend in coming weeks as it denote new and high potential investors are in hurry to enter and play. Keep watching.
the bear market ended a while ago. this is just a residual effect and some people wishing it to continue some of them have the power to make it continue so they are dumping to push it down.
its waaaaay too early to say. how are you so confident the bear is done?
in any market, this whole $6000-$12000 trading range could be a bearish consolidation. i'd love to see things turn around, but by all trend-reading techniques i know, this is still a bear market. break above $8500 (higher high) and we can start believing otherwise.
because price has not been going down for a very long time now. it is now going sideways and mostly staying stable since the changes are still small with $6000 as their bottom.
this may not be a real trend but i call it the uncertainty trend which to me signals the end of the bear market and start of the reversal. and unless price goes below $6k i wouldn't change my opinion; which is possible with the ETF negative news being possible but has not happened yet.
This is what Wall Street call "price discovery". Its the point where they cant suppress the price any longer.
But the issue remains: will it go up from there? Will this bottom go up? Or will the price keeps swinging over it?
We’ve been here so many times this year, and seeing the previous price movement, always a bounce back after hitting this level. Maybe the theory of the OP is right since the support level are strong between the price range of $5k-$6k where buyers and sellers agreed the bottom price. No one can answer your question but as an optimist hodler, Maybe we see a new bottom but I know it will to rise again.But the issue remains: will it go up from there? Will this bottom go up? Or will the price keeps swinging over it?
IMO institutional investors have buys just under the $6000 mark. Which is why it's holding above that level. What is missing is retail investors - they've been scared away by the price drop from $20,000 plus all the drama with fees at the end of last year.
This is what Wall Street call "price discovery". Its the point where they cant suppress the price any longer.
But the issue remains: will it go up from there? Will this bottom go up? Or will the price keeps swinging over it?
We’ve been here so many times this year, and seeing the previous price movement, always a bounce back after hitting this level. Maybe the theory of the OP is right since the support level are strong between the price range of $5k-$6k where buyers and sellers agreed the bottom price. No one can answer your question but as an optimist hodler, Maybe we see a new bottom but I know it will to rise again.But the issue remains: will it go up from there? Will this bottom go up? Or will the price keeps swinging over it?
IMO institutional investors have buys just under the $6000 mark. Which is why it's holding above that level. What is missing is retail investors - they've been scared away by the price drop from $20,000 plus all the drama with fees at the end of last year.
Price will go up, and down again many times, I don`t doubt in that. When will we break that 10,000$ point again is speculation, but I think that will happen in next few months, before new year for sure.
Bitcoin cycle dont last 1 year. Bitcoin cycle last approximately 4 years. Reason for that we can find in halving that happens every 4 years among others. I would simply not expect that Bitcoin will go crazy in November because it went last year and few other Novembers in past.
This is what Wall Street call "price discovery". Its the point where they cant suppress the price any longer.
But the issue remains: will it go up from there? Will this bottom go up? Or will the price keeps swinging over it?
We’ve been here so many times this year, and seeing the previous price movement, always a bounce back after hitting this level. Maybe the theory of the OP is right since the support level are strong between the price range of $5k-$6k where buyers and sellers agreed the bottom price. No one can answer your question but as an optimist hodler, Maybe we see a new bottom but I know it will to rise again.But the issue remains: will it go up from there? Will this bottom go up? Or will the price keeps swinging over it?
IMO institutional investors have buys just under the $6000 mark. Which is why it's holding above that level. What is missing is retail investors - they've been scared away by the price drop from $20,000 plus all the drama with fees at the end of last year.
Price will go up, and down again many times, I don`t doubt in that. When will we break that 10,000$ point again is speculation, but I think that will happen in next few months, before new year for sure.
Bitcoin actually has to be used, that is a big point to this whole retraction. Its the high tide of speculation and leveraged buying now retracting and leaving us to find the base mark of where is Bitcoin actually being used and operations where it is useful in its abilities. Without that base use I dont see the rest is justified, some even assume the entire thing was speculation but thats not the case. We will find bedrock of support some place when its mostly about usage, just not sure how long that takes
Looking at how the price moved this year, i think there's logic behind what you said dude and probably that's why all these speculations indicating that we'll bottom out at 4 or 3k isn't that valid. Whales and high holders have the say in this kind if market.
only to an extent. whales and large miners can withhold coins from the market, but nobody has this market cornered. and as the years go by, coins become more and more distributed. something like 5-10% of americans now own crypto. so the whales of yester-years really aren't as important anymore.
what matters most is all the supply from bagholders from 2017 (including institutions like novagratz' fund etc) and whether or not organic demand can outweigh that.
That's the big problem we are facing is the heavy supply weighing down from above. There needs to be more organic demand and not just algos driving the price up for short periods. I'm a bit worried about the future of bitcoin because of that. These futures contracts are no good in my opinion, and the ETF won't make a big difference either.
What would really help bitcoin is more trust and widespread adoption by major figures who actually use the coin for what it was intended for, rather than just quick swaps or pump & dumps.
This is what Wall Street call "price discovery". Its the point where they cant suppress the price any longer.
But the issue remains: will it go up from there? Will this bottom go up? Or will the price keeps swinging over it?
We’ve been here so many times this year, and seeing the previous price movement, always a bounce back after hitting this level. Maybe the theory of the OP is right since the support level are strong between the price range of $5k-$6k where buyers and sellers agreed the bottom price. No one can answer your question but as an optimist hodler, Maybe we see a new bottom but I know it will to rise again.But the issue remains: will it go up from there? Will this bottom go up? Or will the price keeps swinging over it?
IMO institutional investors have buys just under the $6000 mark. Which is why it's holding above that level. What is missing is retail investors - they've been scared away by the price drop from $20,000 plus all the drama with fees at the end of last year.
Looking at how the price moved this year, i think there's logic behind what you said dude and probably that's why all these speculations indicating that we'll bottom out at 4 or 3k isn't that valid. Whales and high holders have the say in this kind if market.
only to an extent. whales and large miners can withhold coins from the market, but nobody has this market cornered. and as the years go by, coins become more and more distributed. something like 5-10% of americans now own crypto. so the whales of yester-years really aren't as important anymore.
what matters most is all the supply from bagholders from 2017 (including institutions like novagratz' fund etc) and whether or not organic demand can outweigh that.
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