Topic: Bitcoin and Ethereum Rise 6% as Market Rebounds During Dark Skies (Read 488 times)
It seems that this topic has been lying still for too long. We saw the end of the bear market and significant growth since January 2019. Now in July, bitcoin remains at $11k and eth at $ 300.
December 15, 2018, 12:21:27 AM
What was "generally positive sentiment" has polarized itself but quite unnecessarily so
Large holders and opportunistic traders are shorting the market to no end which is great for anyone who wants to buy in cheaply as the winter probably won't be nearing spring for a little while yet
Large holders and opportunistic traders are shorting the market to no end which is great for anyone who wants to buy in cheaply as the winter probably won't be nearing spring for a little while yet
December 12, 2018, 10:58:29 PM
It is very alarming that most people right now are totally lost their investment due to the very low drop of the prices in the market. But showing signs that some pumps are planning to rise in bitcoin and ethereum, will give hopes to the investors.
December 12, 2018, 07:11:04 AM
So this is the way I must say. You know it is a constant thing that the market will surely change every time. I hope this time the rise stays longer time.
I hope so, but as what you have said, it is a constant thing so we cant predict that the market will stay longer. There will be a circumstances where the market could probably change. August 26, 2018, 05:40:10 PM
Over the past 12 hours, Bitcoin and Ethereum have risen by more than 6 percent in value, but some analysts are still not convinced about the short-term trend of the crypto market.
Generally Positive Sentiment
The quick recovery of Bitcoin and Ether, the native cryptocurrency of the Ethereum network, has led the general sentiment of the market to become more positive.
Ether, which plunged by nearly 20 percent on August 14, showed strong movements today, increasing from $250 to $280.
Ethereum Classic, Litecoin, Ripple, NEO, and other major cryptocurrencies also surged in value and volume on August 15, recording 5 to 10 percent gains in a relative short period.
However, the corrective rally recorded today was not as strong as investors expected it to be. In consideration of the steep drop in value the crypto market recorded over the past 72 hours, investors predicted a more strong bounce from previous levels. But, Bitcoin, Ether, and Bitcoin Cash, which recorded solid gains in the last 12 hours, have started to demonstrate a downward trend once again.
Willy Woo, a well respected cryptocurrency investor and analyst who predicted the price of Bitcoin to drop below the $6,000 mark since May of this year, recently said that the market will likely experience another drop before its next mid-term rally.
Woo specifically said that Bitcoin will likely test the $6,000 support level once again in the near future, even if Bitcoin recovers beyond the $7,000 mark and the market sees a convincing rebound.
“Leveraged short positions now near all time high. Anyone got a spare $35m in their trade account? Should be enough to trigger all those stops for a payday,” Woo said, referencing his previous statement made on August 13:
“The 3rd dead kitten. Fractally speaking, I’m framing this last down leg as an oscillation around the main move. The green line is just magic crayons for short range TAs to determine, the retest target and rate of decline are the things I’m watching. NVT only mildly supports this.”
Where Does the Market go Next?
Based on the analysis of Woo, a likely scenario for Bitcoin and the rest of the crypto market is to record another major drop in the near future, bottoming out at a lower range of prices, and demonstrating stability before initiating a proper mid-term rally.
The lack of momentum, volume, and stability in the market has decreased the probability of a mid-term rally in the near future, and as BitMEX CEO Arthur Hayes stated before, the market will not be able to support a huge spike in price with its current price trend.
More to that, the increasing dominance index of Bitcoin, the most dominant cryptocurrency in the market, shows the lack of confidence of investors in high-risk high-return investments, which generally means the market is unstable and hugely volatile.
It is possible that Bitcoin continues its corrective rally towards the $7,000 mark and records a strong bounce before the next fall, but it is also possible, if BTC fails to secure momentum in mid-$6,000, that it falls below $6,000 once again.
source: https://www.ccn.com/bitcoin-and-ethereum-rise-6-as-market-rebounds-during-dark-skies/
Generally Positive Sentiment
The quick recovery of Bitcoin and Ether, the native cryptocurrency of the Ethereum network, has led the general sentiment of the market to become more positive.
Ether, which plunged by nearly 20 percent on August 14, showed strong movements today, increasing from $250 to $280.
Ethereum Classic, Litecoin, Ripple, NEO, and other major cryptocurrencies also surged in value and volume on August 15, recording 5 to 10 percent gains in a relative short period.
However, the corrective rally recorded today was not as strong as investors expected it to be. In consideration of the steep drop in value the crypto market recorded over the past 72 hours, investors predicted a more strong bounce from previous levels. But, Bitcoin, Ether, and Bitcoin Cash, which recorded solid gains in the last 12 hours, have started to demonstrate a downward trend once again.
Willy Woo, a well respected cryptocurrency investor and analyst who predicted the price of Bitcoin to drop below the $6,000 mark since May of this year, recently said that the market will likely experience another drop before its next mid-term rally.
Woo specifically said that Bitcoin will likely test the $6,000 support level once again in the near future, even if Bitcoin recovers beyond the $7,000 mark and the market sees a convincing rebound.
“Leveraged short positions now near all time high. Anyone got a spare $35m in their trade account? Should be enough to trigger all those stops for a payday,” Woo said, referencing his previous statement made on August 13:
“The 3rd dead kitten. Fractally speaking, I’m framing this last down leg as an oscillation around the main move. The green line is just magic crayons for short range TAs to determine, the retest target and rate of decline are the things I’m watching. NVT only mildly supports this.”
Where Does the Market go Next?
Based on the analysis of Woo, a likely scenario for Bitcoin and the rest of the crypto market is to record another major drop in the near future, bottoming out at a lower range of prices, and demonstrating stability before initiating a proper mid-term rally.
The lack of momentum, volume, and stability in the market has decreased the probability of a mid-term rally in the near future, and as BitMEX CEO Arthur Hayes stated before, the market will not be able to support a huge spike in price with its current price trend.
More to that, the increasing dominance index of Bitcoin, the most dominant cryptocurrency in the market, shows the lack of confidence of investors in high-risk high-return investments, which generally means the market is unstable and hugely volatile.
It is possible that Bitcoin continues its corrective rally towards the $7,000 mark and records a strong bounce before the next fall, but it is also possible, if BTC fails to secure momentum in mid-$6,000, that it falls below $6,000 once again.
source: https://www.ccn.com/bitcoin-and-ethereum-rise-6-as-market-rebounds-during-dark-skies/
That is a great note and was a pleasure to read. Currently btc is still a king and ETH is in a big struggle, ETH to BTC rate is pretty low. However, once the alts will raise it should pump the ETH, or vice versa.
Also good trend is that if BTC is growing, then most of the ALTS growing, not BTC alone, which is a pleasure to see.
August 26, 2018, 05:25:27 PM
Over the past 12 hours, Bitcoin and Ethereum have risen by more than 6 percent in value, but some analysts are still not convinced about the short-term trend of the cry
A six percent means nothing in crypto, those are the usual movements of rebounds due to a excessively quick fall on the week before, but have no meaning mid term.
August 26, 2018, 05:19:26 PM
The current condition of bitcoin and ethreum is not good but rising their value will give the user and investor a little bit peace and confident. But how long it will stable that is important but it will bring comfort for the investors .
August 26, 2018, 03:07:27 PM
Not it's really didn't affect me small change over days. It's really bad that crypto just going in downtrend. In the last some days BTC show some good signal but again down. Many was expecting for ETH over 1500$ and BTC over 20k$. But seems like market will go even deeper. 
August 26, 2018, 03:06:34 PM
6%, not much for this kind of market, but still a lot when it going down.
just some little light, but I still hope it can soon rise again as last year. cause I'm getting disappointed.
just some little light, but I still hope it can soon rise again as last year. cause I'm getting disappointed.
August 26, 2018, 02:58:44 PM
Crypto was in down market value for a long time and it's turn up a little from there. And it's will be continue with all crypto and crypto will be grown up again.
August 25, 2018, 11:43:48 PM
The recent market situation circulating cryptos which were seeing a slump has finally stopped as it seems. But for how long it will stay stable like this, there is no answer to anyone. However, if this trend continues to stay stable like this then the next trend which have a better possibility of being bullish will start from here for both the Bitcoin and Alt market.
August 24, 2018, 08:55:32 PM
There are many people those who thought that the price would not be increased again and sold their cryptocoins. I think people should have to keep patience to increase. I hope now they will understand.
August 23, 2018, 07:04:33 PM
People are freaking out after seeing so much of fall of cryptocurrency recently. So, most of them started selling their altcoins which is making the situation worst. I think they will be happy after seeing this.
Yes, the market situation that is too long in a state of correction makes many people force to sell their altcoins to reduce the risk of losing. I think that this will continue for some time to come so the decline is likely to strike again. 
August 23, 2018, 06:57:10 PM
People are freaking out after seeing so much of fall of cryptocurrency recently. So, most of them started selling their altcoins which is making the situation worst. I think they will be happy after seeing this.
The only parties will be happy to see the bullish trend of crypto will be those people that still hold their altcoin. Most of them are getting scared and they will never get their ROI again consider they must put more money to enter the crypto market again. That methods is so bad in my opinion. August 23, 2018, 06:51:38 PM
People are freaking out after seeing so much of fall of cryptocurrency recently. So, most of them started selling their altcoins which is making the situation worst. I think they will be happy after seeing this.
August 23, 2018, 06:39:16 PM
I saw some news where it's shown that the price of the bitcoin and ethereum has been fallen down rapidly. But I believe that it would be increased again. 
So, my perception is true.
So, my perception is true. August 23, 2018, 04:16:05 PM
Yes, the current market seems to be depressed, but there may be a bigger increase behind it. These are all possible. What we have to do is wait patiently and invest in your optimistic coin.
August 23, 2018, 04:04:10 PM
That's pretty good news for crypto world and it will be rise more than 6% in future and that should be expectable for cryptocurrency.
August 23, 2018, 03:29:38 PM
I think we should give them some time to turn around the table. All the coins having a bad time so they need time. I hope we can see a positive scenario at the end of the year. Hoping for the best.
August 23, 2018, 03:24:40 PM
That's a Light of hope for improve cryptocurrency and move out from this worst down market. And that's should be good for crypto world.
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