Topic: Bitcoin - a short pullback or a long-term bottom? - page 2. (Read 513 times)

First off, it is worth noting that prices in any financial market never continues indefinitely in any one direction, but continually reflect the net effect of the pressures of demand and supply. So for price to have made double bottom around the $6500, it's an indication that a strong support is forming at that level and a rally in view.    Should price bounce off that level again, it would likely be the ride we have been waiting for.

blah blah blah

another topic of speculation all based on a daily movement of less than 10%

guys when will you learn. the price is never going to be a stable 0.03% rise a day..
it will never be a stable/guarantee double your investment in a year.
some people who are smart can double their income in weeks. and some emotional investors may lose... get used to it

it always going to go up and down
just enjoy you can make more then 1% a day if your smart enough

just stop caring, viewing, thinking about the ATH(all time high). all that matters is the low. and you will notice that the yearly low is on a increase since 2009
stop hoping for another one time spike. because when it actually happen 99% of people wont have fast enough fingers to take advantage of it and then when it corrects to a low. you just sat there waiting for the next ATH spike and hope your online fast enough.. (which most never are)

so just stop screaming "bitcoin is less than half the value of ATH".. instead say bitcoin is $2k higher than the LOW of 6 months ago

..
smart traders dont care about ATH
smart traders dont speculate years ahead
smart traders dont trade once a year hoping to double their funds. by having the luck of being online the exact second a ATH spike occurs
smart traders take their 1% a day and cumilatively it all adds up to a more secure profit

Have you ever seen Great Wall in China? Don't worry guy, the $8500 resistance is just a barrier, not a wall. The Great Wall is $9.999,99 resistance. Traders and short-term investors shall take quick profit after buying at supported area. It's the psychological resistance also and, of course, btc shall need supporting news to persuasively overcome it.

I think the $18,000+ ATH of last year was a freak show, because it was not anything like the peaks that we has seen in the

previous pumps. I doubt if we are going to see the same breakout as we saw in 2017. The gap between the lowest point and

the ATH of last year is just too big to recover in this year. The drop was just too big and too quick and a lot of people got

burnt.  

I have some good news for you to take into your consideration:
1. Saxo Bank has just published “quarterly outlook” which predicted a bull market starting in the middle of the second quarter
2. Pantera Capital- Blockchain released the first in a three-part research series on Bitcoin trading habits, and pointed out that 58% of the total Btc supply changed the owners in the past year. The market shall be moving to the fourth cycle of holding coins and to be ready for fresh price highs.
3. The Fundstrat Global Advisors cofounder, Mr Tom Lee, said a month ago that Btc has been oversold and kept predicting a $25,000 price by late 2018.

The recent rise in prices could also be due to the selling pressure decreasing due to tax season getting over. Also if we pump above $10k than we could very likely enter the bull cycle again and leave the bear phase behind us. Lets hope this isn't a bull trap and Bitcoin market is entering a bull period.

Bitcoin stayed at $6k for a while which was strongest level which if broken would have caused the real panic situation in the market. But bitcoin successfully survived that level even under the excessive selling pressure. After this recovery, I don't expect Bitcoin to go in bear phase again. Maybe a single dump cycle might take place before another uptrend. But is unlikely to go below $7k. Market has gotten the required momentum and is likely to continue in upward direction for quite some time now.

The $6k double bottom IMO has somewhat helped the traders fuel up and stock in as many bitcoins as they can in the mean time. After a series of bearish stints, starting from the Gox trustee crashing the market hard up to the tax day, right now it seems that the bulls are in power again (I hope). We clearly are poking the $8500 resistance level right now but still there are no signs of possible breakout from the said level, though there aren't any hints of any bearish movement in the market as well so we might be good.

Hello everyone, lately we see that the decline in the price has passed and the price rises. My opinion is that in the near future bitcoin will grow in price

Yes, Strong pullback obviously after a long bearish market. Bitcoin has broken its $8200 wall and seems like set to towards big stage. Still continued positives and right now up to $8500 position. Chance a bigger move up hence I'll keep my eye on this. Would love to hear big positive news in the meantime in order to see more action on price.

Looking at many aspects, Bitcoin is in its infancy. Bitcoin costs $ 400 (about $ 8.5 million). You can withdraw money from ATM Bitcoin. More and more companies are accepting Bitcoin payments, and you can use Bitcoin to deposit or donate. In Norway, a man who spent $ 27 to buy Bitcoin 4 years ago became a millionaire.
But the fun seems to be dying. This virtual currency has survived as the US government increasingly tried to control it. In the context of the increasingly bitcoin world, and when the federal government was watching Bitcoin.

I hope that definitely that this is a new uptrend and only will only have a short retracement. Although we are not so sure about this one.

As far as I concern, it's not a fluctuation as you thought. Let's see the under chart and "busted falling wedge pattern" which happened 2 months ago



I pointed it out a month ago, here: https://bitcointalksearch.org/topic/bitcoin-trump-cryptocurrency-daily-news-3198593

Please feel free to have a short view.

Volatility is like breathing in any asset market. The example given by the author of the topic is just one of many breaths and exhalations of bitcoin. This a normal process.

I don't see the point. Haven't you heard about the word fluctuation due to some external factors affecting its growth? Bitcoin is not on a short pull back nor declining. It is just fluctuating which is normal.

It’s not difficult to point out bullish signals basing on technical analysis and it is becoming self-fulfilling prophecies as many traders have got wind of their predictions. Luckily, attitude of the industry has appreciably enhanced after good news of G. Soros has been preparing to invest in the industry appeared
Although U.S bond yields are increasing in renewed prospects of tightening in 2018, U.S Dollar demand remains supported because of mostly hawkish FOMC remarks and optimistic data. Furthermore, Bitcoin price has been supported by prolonging geopolitical risks and long-term needs of cryptocurrencies. If the bullish pressure of BTC is strong and long enough, we can see a stronger rally for btc in middle of  May
As all of you can see at the moment, BTC has just overcome short-term resistance level at $8.500. A continued bullish momentum could test $10k in middle of May or even sooner. 

at first when the rises started 8 days ago i thought it may be just a bull trap or a temporary rise to test the waters and see how things go, or maybe some whales trying to cash out and make some profit but ever since the initial big rise we have had a big buy support shaping up and a lot of the investors are coming back and price is still rising so this seems to be the start of the bull market to me.
and if i am right this would be very interesting because this bear market lasted a very short time.

The low is not a pull-back nor a long rerm bottom. Its a correction. And this does not happen only once in the history of bitcoin but every year around the 1st quarter, bitcoin always has coerection. The market is slowly rising and its no surprise because we have already strengthened our support. All of those weak hands already sold their share when bitcoin decreased, adding up to the fall of bitcoin price.

Well, I highly appreciate your opinion. We are just Nemo fishes and have beliefs in Bitcoin in the future ourselves. Whales have left us with 75% losses from $20k area. We don't know for sure whether they shall come back or not. However, we have our own advantages - perpetual beliefs in bright future of BTC and cryptocurrencies.  
I am still holding and investing on BTC,  NEO,  LTC,  EOS,  Waves and some tokens also.
Hopefully that we are right

I see bitcoin and alts value is not bumping just to say it is recovering from the shit dump by the various government and corporate pulls mate. This time price recovering shows the every day symbol on that mate.

Yesterday I have noticed little dump on all the cryptos but with in some hours price started recovering I really feel happy bro.
Before this year ends we will find the bitcoin price goes to 20k USD for sure.