bitcoin boom or burst ? how to analyzed?

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Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

Easy and not hard at all as some said. Only thing you need is patience. With altcoins is is not easy at all but with Bitcoin you know there will be demand again even for ATH as there is a lot at stake and too many exchanges are making billions so they will support the price even if the sentiment turns bearish, there are plans for anything. The bots are running and the printers at Tether don't stop.

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Brother it's very difficult to understand crypto market but sometime you can use some indicator will help you out to doing long term analysis on particular coin..

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Quote from: mezzaluna on December 23, 2020, 01:47:47 PM

Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

The term for this is bubble. Yes, people and other users within the Cryptocurrency thinks that bitcoin is a bubble but their perspective should change by now since Cryptocurrencies already proved themselves that they can be valuable in the world we live in. Some people turn-to Cryptocurrencies when their physical jobs were lost and because Cryptocurrency is easy to access and useful during the pandemic, a surge of users was introduced to this industry. I still think that Bitcoin will stabilize at some point then have another surge in value for who knows when.

during a pandemic it is the most doable thing, of course, always doing regular work at home and of course crypto promises to be done by everyone, but the problem is there are still many who don't understand about crypto so there are no visible changes that are still as usual before the pandemic .

bitcoin has done a really fantastic job by taking very unusual spikes, bitcoin is already short term and can quickly go up very fast and down too fast.
but now bitcoin is starting to keep moving to make changes to ATH with renewable ones. bitcoin will continue to do that until next year, we will wait for it.

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Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

The term for this is bubble. Yes, people and other users within the Cryptocurrency thinks that bitcoin is a bubble but their perspective should change by now since Cryptocurrencies already proved themselves that they can be valuable in the world we live in. Some people turn-to Cryptocurrencies when their physical jobs were lost and because Cryptocurrency is easy to access and useful during the pandemic, a surge of users was introduced to this industry. I still think that Bitcoin will stabilize at some point then have another surge in value for who knows when.

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Quote from: joeperry on February 25, 2020, 11:47:58 AM

You can't analyze it with just perspective, but you can analyze it through technical analysis in trading users uses different indicators such as: Trend lines, Candle stick patterns, Chart Patterns, Indicators, etc.

In this way people may predict whether bitcoin or any kinds of coin will going to crash or not. However even the professional traders are not able to predict it right, it's just a prediction that uses technical analysis and so the results vary from time to time and there's no assurance that if you do a technical analysis you will correctly predict it.

Technical analysis is just one part and we know that this thing doesnt work precisely yet it will always need up some Fundamentals for it to be triggered.
If we cant find any news or sentiments then its better to use TA's than to trade without any analysis yet it would turn out to be a pure gambling.
This had been always the question of many ever since if bitcoins price would reach up new ATHs or would simply dump to lowest low levels.

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You can't analyze it with just perspective, but you can analyze it through technical analysis in trading users uses different indicators such as: Trend lines, Candle stick patterns, Chart Patterns, Indicators, etc.

In this way people may predict whether bitcoin or any kinds of coin will going to crash or not. However even the professional traders are not able to predict it right, it's just a prediction that uses technical analysis and so the results vary from time to time and there's no assurance that if you do a technical analysis you will correctly predict it.

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Actually, it is pretty hard in order to analyze the market well. Now the current price of Bitcoin is under $ 9500, and I did not expect that to be honest, I thought it went to $ 10K but unfortunately the opposite happened . So Bitcoin is unpredictable especially in this period. We can't give you an accurate information and expectations. But in my opinion, Bitcoin will rise to $ 11K or 12K in next month, but possibly, my predection is wrong. We are all different and have our own views .

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There is no such thing as an accurate analysis. All of them are just a speculation or a prediction.
Always remember that, so that you will never confuse anything. Most of the new ones does.

They all think there is always an explanation for everything but there is none.
Even with the fluctuation upwards that is happening is being connected to something. War, Chinese President announcement, CoronaVirus, etc, etc.
You name it, they will try to explain it with a wide extension of fake facts. Grin

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Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

you must think for yourself. A few months ago the price was $ 6400 and the price forecasts were the most scary and there was no optimistic forecast. But look at today:

billionaire investor tim draper quit stocks for bitcoin 6 months ago

tron ceo bitcoin to break 100k in 2025 and pull up other coins

Are exaggerated forecasts, but it shows that the people is optimistic about the future

isaac_clarke22

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You can just see and analyze if it bursted or boomed. You should be aware OP that Bitcoin is unstable to its value due to how global it is. Everyone around the world could just invest at the same time leading to a possibility of the price pump, now unless you can see those then you might be able to analyze a bit but that's purely impossible.
You can't just analyze it with a naked eye and an open mind. You can just make a speculation and prediction to it, the same way as how the news articles put their headlines quite often.

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Quote from: philipma1957 on February 21, 2020, 12:01:31 PM

short term trading is a difficult game.
it is skewed to exchanges favor and for traders to lose money via fee payments made due to lots of trading.
It is hard work lots of action and just one bad streak you can lose years worth of profits.

It is really hard to do because when you are doing short term trading, you must consider your time management if you can really check your portfolio every time so that if something changes in price, you can do what your plan is, and you can earn that fast. I can say that speculation is the only thing you can do when analyzing, no one can predict when bitcoin will boom in terms of value.

Quote from: bearexin on February 25, 2020, 03:49:08 AM

There are people who do the job of trying to predict the future price of Bitcoin using what we call technical analysis. I don’t know how they do it, I am not into it and I don’t know how it works, but from what I have understood there are different strategies that are being used in knowing what the future price is going to be.

McAfee claimed that he used the same strategy that was used for predicting the bull run that took place in 2017 but still he wasn’t able to predict the price for 2018 and 2019, all his predictions failed and for that he called Bitcoin the worst cryptocurrency. So, it’s difficult to do, but there are people who have done it accurately.

Indeed, they are only doing some speculations of what they are seeing in the market, yes they can say that maybe this year that bull run will happen because as we look at the bitcoin's price, we can see that it is really recovering from downfall. That is maybe the thing they are considering to say that kind of things regarding bitcoin's price.

Quote from: White Christmas on February 25, 2020, 04:20:52 AM

Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

We don't know if the bitcoin will boom on the next few days or it will bump so high because those person who are currently has the knowledge on how to read the market graph are the one who can analyze what would happen to the bitcoin if it will become boom on the next few hours or not. The crypto enthusiast are saying that there is what you called the golden cross on wherenif this happens there is assurance that it will be bullish. But in different perspective I dont know what people are doing to analyze those kinds of thing.

The only thing we can as of now is to wait for the right time that the pump will really happen, because as of now, maybe a pump can happen anytime or maybe not. Keep on doing what you are doing and have patience, keep also supporting cryptocurrency especially projects that are coming.

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Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

We don't know if the bitcoin will boom on the next few days or it will bump so high because those person who are currently has the knowledge on how to read the market graph are the one who can analyze what would happen to the bitcoin if it will become boom on the next few hours or not. The crypto enthusiast are saying that there is what you called the golden cross on wherenif this happens there is assurance that it will be bullish. But in different perspective I dont know what people are doing to analyze those kinds of thing.

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Quote from: Debonaire217 on February 22, 2020, 12:16:13 AM

Bitcoin is a volatile currency that could boom and burst depending on the market analysis of the graph that bitcoin is currently showing. It depends on different tools and such as MACD, RSI, and to determine whether bitcoin is already overbought or oversold.

How will you determine whether bitcoin is already over bought or over sold with these tools and how can you determine whether there will be a huge investment in a short period of time and manipulation by the whales or big financial investment firms. These tools will help to a certain extend and in the short period of time it will not help in any way but it can give you an assumption with a lot of data and give you an idea how the market will move in the long run.

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There are people who do the job of trying to predict the future price of Bitcoin using what we call technical analysis. I don’t know how they do it, I am not into it and I don’t know how it works, but from what I have understood there are different strategies that are being used in knowing what the future price is going to be.

McAfee claimed that he used the same strategy that was used for predicting the bull run that took place in 2017 but still he wasn’t able to predict the price for 2018 and 2019, all his predictions failed and for that he called Bitcoin the worst cryptocurrency. So, it’s difficult to do, but there are people who have done it accurately.

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Due to major upcoming even around May which is halving, I can say Bitcoin is boom. Besides, I don't see the possibility of Bitcoin to burst as you used it.

That's not guaranteed though. Majority of us here can say this year is gonna be very bullish because of the halving event, but only because of the price trend from the last 2 halvings in 2012 and 2016. But that doesn't mean It's going to happen again this year automatically.
The block halving doesn't have a direct correlation with Bitcoin's price, it's just that people thinks It has a good impact in the market and thus creates a hype that causes the price to skyrocket.

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Considering the perspective of a trader:

Bitcoin is a volatile currency that could boom and burst depending on the market analysis of the graph that bitcoin is currently showing. It depends on different tools and such as MACD, RSI, and to determine whether bitcoin is already overbought or oversold.

With regards to the perspective of a normal bitcoin enthusiasts, they see it as volatile as well, but not considering the tools and equipment, mainly through prediction of the graph based from the news and updates.

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Quote from: fiulpro on February 21, 2020, 06:00:18 AM

At the end of the day you cannot predict anything , these things might help 20-40% but there is nothing you can be sure of.

Actually, you can predict anytime you want but it will remain as prediction because you don't know what will gonna be the outcome. We always tend to believe to someone's prediction and even they give us hope because they predict a higher price in the market still don't expect too much and just rely on your own analyzation. To be honest, I just follow some prediction of others but I also have own analysis about the condition of the market(just a simple analyzation) and it's always better to make our own research and analyzation about the market just make the other's prediction as your basis in your analysis.

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Quote from: pragna on February 21, 2020, 11:18:55 PM

Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

Actually i did not get any true indicator still now form 2016 that we easily realize the market. In year 2017 we saw many comments, analysis, indicators but nothing was actual and no actual news we got. So i think we have to keep our eyes into market and environment so that we can understand the market position.

I'm not an expert in analyzing every detail of the market price of the bitcoin, but I did some study and explained how the graph presentation works. Also by the use of the internet today we can now get a lot of information with the help of the search engines and even by the content of the other people it helps me a lot to make more research, ideas, studies, and also information what do I need to do and how to read the market price of the bitcoin. Before, the price of the bitcoin is fall back for over 8k dollars and now goes up for over 9.6k dollars and rises again for over 10.4k dollars that were huge. Many people got investment still because they see the potential of bitcoin to give a lot of profit. But now the price of the coin goes down again for 9.6k and becomes stable this is just only within two months there are a lot of changes within those phases, and now it is stable again like on the previous year, and this is a sign of good profit because the halving is coming within May or March that the source of the bitcoin will be limited, and the price of it will goes higher again. Those are the possible hint to identify if the bitcoin will boom or burst.

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Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

Actually i did not get any true indicator still now form 2016 that we easily realize the market. In year 2017 we saw many comments, analysis, indicators but nothing was actual and no actual news we got. So i think we have to keep our eyes into market and environment so that we can understand the market position.

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short term trading is a difficult game.

it is skewed to exchanges favor and for traders to lose money via fee payments made due to lots of trading.

It is hard work lots of action and just one bad streak you can lose years worth of profits.

thesmallgod

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I will advise you to keep your investment safe because I have come to realize most of user post like this when they are expecting too much from the trading of crypto. Firstly, you must know the market at this moment is difficult to speculate because bitcoin has been showing resistance around $9.5+k which was hard to believe because when the BTC price started rising few weeks ago people think we already enter bull run and the price will continue to rise without understanding what caused the rise

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Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

If you are online daily then it is not that hard to predict what will happen in the following days. Even if the market is unpredictable still you have big chances of predicting it correctly if you will just follow the market happenings like you can start checking the price from 1-2 months and also the weekly graph.

And also you need to be wise, put in your mind always that in every increase of price there should be a little setback so a decrease of prices is only natural especially if it is not that big dip. For almost 3 months of the market starting January 2020, we can say that bitcoin will boom and not burst base on the happenings.

fiulpro

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There are various things that you can take help of :-
*Some sites and apps offers insight into the future price , not everyone trusts it but people still use them
*Taking care of news related to bitcoins
*Governmental laws in the industry (they affect the price drastically)
*Using stock market stats principals here might help you

At the end of the day you cannot predict anything , these things might help 20-40% but there is nothing you can be sure of.

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Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

Best strategy? Predict.

There is nothing we can do with this so fast-changing market but predict, make an educated guess. Some investors are so used to the changes in the price chart that they can get some of the movements correct. If there is a better strategy for it, I guess a lot of people will be doing that by now and earning a lot of profit from Bitcoin and also other cryptocurrencies too.

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It would be nice to know that for sure isn't it? However I don't think any of us owns a crystal ball.. we can only make our "best guesses" on the market behavior and stick to them.
Learn fundamental and/or technical analysis and then come up with a strategy that you can respect even when the market looks like it will fall from its highest high like a rock. If you have a strong strategy it is imperative not to get influenced by other people's opinions.

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You can try to analyze the price by watching the price moves daily so you can get the pattern of the movements. You can make your prediction by watching the price, so I guess that you will get a sign to do something in the market. When you watch the market every day in a month, you will see that there is something behind the movements, and that will be your guide to buy or sell bitcoin. But if you think that the bitcoin price movements is strange, you can break out and leave the market for a while to see what will happen with bitcoin.

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Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

You make use of all the factors that may possibly play a role in Bitcoin's price. You can look at the news surrounding Bitcoin or crypto in general. In fact, dig deeper and know what's about to be broadcast. The price begins to get affected while news are still rumors. You may take a closer look at the fundamentals as welll. You may also do some technical analyses using various tools to learn how to make some prediction guides and patterns. But all in all, brace yourself for constant surprises.

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Analyzing the possible outcome of bitcoin is hard,

It is almost impossible, the only thing you can do is to guess its future, if it will boom or not. If you believe that bitcoin will increase, just trust the process and wait for halving to happen for the next couple of months.

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Quote from: Kakmakr on February 20, 2020, 12:35:55 AM

Why should this matter? Bitcoin is supposed to be a currency and if you use it as a currency, you should not be worried about things like this. Yes, it is a added bonus if the price can increase a little over time, because you do not want a currency to lose it's value, like with all other Fiat currencies.

Let’s say you have $100k in your account. Regarding your expenses, this kind of money is enough for the next 4 years for you.
Now you decide to switch to BTC and Buy 10BTC. As a result, you don’t know if it will be worth $30k or $300k in 6 months (possibly $15k or $700k).

Well, that sounds like a big problem for me as a currency…..

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Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

I personally see it from the technology system brought by bitcoin, with the Blokchain system which incidentally has never existed in the history of technology this can be one of the reasons why bitcoin continues to grow until now, not only in terms of price but in terms of volume also increases this can be one of our benchmarks that it is not easy to be able to destroy bitcoin which incidentally is not influenced by economic and political factors in the country

If from another aspect of analysis we can see from the volume level I said above, the higher the volume, the greater the price value that will occur, of course this should also be analyzed in technical terms, for example using the supply and demand aspects where all related with prices there will definitely be limits to supply and demand, because bitcoin is a dynamic market and all are still speculative

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Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

Bitcoin market was purely speculative, it was new it requires time to familiarize it. Instead of analyzing the market analyze the real situation outside it. Are we heading to a recession or not? Was the Gold delivers more value than crypto or not. From these scenarios wr can predict what will happen to the bitcoin market. If a lot og people buy btcs then the price will probably go up and vice versa.

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Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

Use Technical and Fundamental analysis. Those tools are created for a reason, and analyzing those historical prices incurred in the past have an effect to its future price.

As Marvels Hydra Agent says "The future is a digital book and can be evaluated based on people's past" this has something same with events and activities.

Quote from: mk4 on February 20, 2020, 12:16:04 AM

You can't. All we can do is to guess or speculate on what's going to happen. You could say that the price might go up due to(and in anticipation of) the upcoming halving in around 3 months, but will it go up? Maybe, maybe not. Pick your guess.

Speculation is the worst thing here. Most of other people speculate with a very impossible prices wil happened. Much better to study pattern than this IMO.

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Analyzing the everyday movement of BTC will involve lots of time and effort. It is possible but it needs hard work. You might not be able to guess the status 100% of the time but I think if you've been doing it for years you'd be able to figure out the movement somehow. There are lots of factors affecting the price of cryptocurrency every day so you need to be aware of that. Anyway, considering the state of my mind, analyzing is not one of my skills. I'd probably go crazy if I keep thinking in advance so I'll just prefer to guess and invest when the market is red.

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Quote from: pakhitheboss on February 20, 2020, 03:37:03 AM

Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

If analyzing the Bitcoin was that easy then everyone here would have become Bitcoin millionaire. I am not saying it is not possible to analyze, what I mean is that it is very hard to correctly analyze Bitcoin's movement because of its volatility.

What do I do?

Check historical data to understand the upward movement but not the downward. Check technical analysis to predict the downward movement.

None of them will give you an accurate picture but, it will prepare you to analyze the future movements of Bitcoin.

precisely. It's just flat out hard for people to speculate on the price of bitcoin because of it's high fluctuation rate. But that doen't mean that you can't get valuable insight anymore from reviewing graphs or recent trends. These can still give yo valuable first hand information on how bitcoin came to be what it was now and what it could possibly be with the increase trends and downward trends kn the market. Frlm there, you can create a thought process that allows you to have a glimpse of an idea on how bitcoin works and what bitcoin is as a whole.

I was once one of those people who thought bitcoin's price can be predicted and I followed some people's advises and stuff when starting here in this industry. I lost a few hundred dollars, but it was a good lesson for me at the very least that tells me I should do my speculations on my own as much as possible. That's just a tip for you.

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Quote from: techptcl786 on February 19, 2020, 11:59:44 PM

at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

If analyzing the Bitcoin was that easy then everyone here would have become Bitcoin millionaire. I am not saying it is not possible to analyze, what I mean is that it is very hard to correctly analyze Bitcoin's movement because of its volatility.

What do I do?

Check historical data to understand the upward movement but not the downward. Check technical analysis to predict the downward movement.

None of them will give you an accurate picture but, it will prepare you to analyze the future movements of Bitcoin.

sunsilk

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You can create your own speculation, that's all you have to do to see the market in a different perspective and that would be your own perspective. And we will see how good you are in giving meaning to the current market that we have.

Just like the behavior of bitcoin, it's very unpredictable and that's all you have to think of. Whether everyone has an enticing speculation and analysis about bitcoin but it's always unpredictable and nobody can have a perfect say about it.

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It is not easy to analyze where bitcoin price movements because bitcoin price can moves to any price without we can know the truth. We can only predict the situations this week by watching the trend so we can determine what we should do related to the market movements. We can also draw a line with using daily, weekly, or monthly so we can know and predict where bitcoin price wants to go. But it still difficult to know and analyze what will happen with bitcoin in the next weeks because that will depend on how big people will buy and sell bitcoin.

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Why should this matter? Bitcoin is supposed to be a currency and if you use it as a currency, you should not be worried about things like this. Yes, it is a added bonus if the price can increase a little over time, because you do not want a currency to lose it's value, like with all other Fiat currencies.

The 2017 spike in the Bitcoin price has drawn in a load of speculators that are using hype tactics to boost the price, because they are not using Bitcoin as a currency. People should ignore all of the hype and just focus on helping to promote Bitcoin as a currency/payment option like Satoshi wanted us to do. Wink

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It is really hard to analyze the market, especially now. It pump last week and then dump again this week. Even technical analysis will just give you some decisions but not "precise" because we can't really predict the next steps whether it will continue to boom or to bust. Indicators may eventually help us to predict but market is hard to read.

Like now, recent dump makes majority of the long entries being liquidated in bitmex. Sad, but immediate sideways cannot be predicted.

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Know how to use indicators, read the news and be good on reading the market but of course don't expect that it will be accurate. Bitcoin can go up and burst, that's because of the volatility and the market manipulations. If the bull run is finally here, then expect an easy pump for bitcoin.

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You can't. All we can do is to guess or speculate on what's going to happen. You could say that the price might go up due to(and in anticipation of) the upcoming halving in around 3 months, but will it go up? Maybe, maybe not. Pick your guess.

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at that time still unsure whether bitcoin will boom or bust, how to analyzed the market from a different perspective ??

Topic: bitcoin boom or burst ? how to analyzed? (Read 492 times)