Bitcoin is about to have its biggest monthly gain since October 2021. - page 2.

livingfree

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Quote from: ethereumhunter on August 05, 2022, 06:05:22 AM

I think the rally will come back later after bitcoin gets another big support but we have to be patient to wait until the moment comes again. Currently, bitcoin is still trying to increase again after yesterday's fall but unfortunately, the current increase still can't make the price go up again so we are still waiting.

It's got already on a support and has overcome the bottom that we've seen on $17k.

Quote from: ethereumhunter on August 05, 2022, 06:05:22 AM

We can be grateful now that the price is back to the $23k level, although we are still far from that rally but at least this is a breath of fresh air for bitcoin and if the time comes, we can see that rally back.

Yes, this is a better view than we see it stay for long under $20k. Bitcoin is imminent to rise and there's no other way where it will be heading. From the top to bottom and bottom to the?

Yes. Going to the top again.

Quote from: pooya87 on August 05, 2022, 11:45:25 AM

There really isn't that many options left other than rising.

I agree.

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Quote from: Reatim on August 05, 2022, 06:46:45 AM

price will at least reach another good rally after the next halving of bitcoin that will happen in the next 3 years from now

There is only about 90k blocks left to the next halving which would take about 1 year and 9 months.
As for the rally, It will happen way before the halving since we already had the massive crash and the bear market and currently we are at the bottom in what looks like the accumulation phase. There really isn't that many options left other than rising.

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Quote from: ethereumhunter on August 05, 2022, 06:05:22 AM

I think the rally will come back later after bitcoin gets another big support but we have to be patient to wait until the moment comes again. Currently, bitcoin is still trying to increase again after yesterday's fall but unfortunately, the current increase still can't make the price go up again so we are still waiting.

We can be grateful now that the price is back to the $23k level, although we are still far from that rally but at least this is a breath of fresh air for bitcoin and if the time comes, we can see that rally back.

later? i'm not sure that it will come that soon mate , instead another year must move before this finally come as the speculation is that price will at least reach another good rally after the next halving of bitcoin that will happen in the next 3 years from now

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Quote from: ethereumhunter on August 05, 2022, 06:05:22 AM

I think the rally will come back later after bitcoin gets another big support but we have to be patient to wait until the moment comes again. Currently, bitcoin is still trying to increase again after yesterday's fall but unfortunately, the current increase still can't make the price go up again so we are still waiting.

We can be grateful now that the price is back to the $23k level, although we are still far from that rally but at least this is a breath of fresh air for bitcoin and if the time comes, we can see that rally back.

The CPI rate will release on the newt few days which I believe the reason for the sudden weaken of the bulls. And also I definitely don’t believe that current rally is what everyone expecting that will put us on the new ATH because the economy is worsen due to many turmoils on globally. We should think realistic or else we might suffer a terrible loss like what happened on 2017 bull run. There’s also a relief like this when the price goes down to the bottom.

The current gain is not sufficient to conclude that we are already in bullrun because it needs more volume to overturn this kind of price trend and beat the ATH.

ethereumhunter

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I think the rally will come back later after bitcoin gets another big support but we have to be patient to wait until the moment comes again. Currently, bitcoin is still trying to increase again after yesterday's fall but unfortunately, the current increase still can't make the price go up again so we are still waiting.

We can be grateful now that the price is back to the $23k level, although we are still far from that rally but at least this is a breath of fresh air for bitcoin and if the time comes, we can see that rally back.

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Quote from: adaseb on August 04, 2022, 10:42:27 PM

Many stocks are already pumping lots off their lows. What traders are thinking is that next months CPI print will be low and that implies we peaked. Since we peaked the fed won’t doing anything crazy like 1% rate hikes.

So the markets are calm. But there is still a long way to go. Too much tensions in the markets with what happened with Pelosi and Taiwan earlier this week. However it looks like maybe that was the bottom.

Yeah I think what has surprised me somewhat is how quickly a lot of analysts appear to have changed their minds just on the last few weeks of data coming out. See, a month ago the same numbers were already predicted (cpi and fed rates) and in fact actual figures were worse, and the thinking then was that it was a deep and long recession, and why we would still see a bottom as the reality would become more apparent.

Now they are thinking this is it. When nothing opposite of what was expected actually happened. Strange, no?

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I do agree that it won't be an easy ask, it is going to take a while before we could see it get a big raise like that. I am not saying that we won't get an increase, we may, but just because we could doesn't mean that it will be something like that, it was a huge one back in those days, I am not expecting anything huge like that right now.

Maybe reach to 25k and even peak at 28k this month, it would be a great start of a bull run, and the month after that could be 32k or 35k and so forth, but not a huge increase in a single month, that’s now how bitcoin goes up. Look at all the previous bull runs and you will see that it takes about two months of going up steadily first before it could rise too much.

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Quote from: feeling sound on August 01, 2022, 09:31:42 PM

After the start of a much-needed bullish relief this week, bitcoin and crypto are inching closer to getting the best monthly gain since October of 2021when we had the release of the first Futures ETF Bitcoin in the US. That's indeed some much-needed and appreciated relief we are getting right now after months of constant extreme fear and red candles.

How long we will continue to rally or how sustainable this rally is, is quite debate-able but we should just get a bit happy for the moment now, we don't get such times always in crypto and especially after the years past few months. Also, we are not having any significant planned economic event next month as there is no FOMC to raise rates. So we may have some space left on this rally…

I do not really see how you can be so bullish, the price is just ranging and going nowhere and this has been the case for weeks, before we see any kind of important upward movement the price needs to overcome the 25k resistance level, something that I do not think it is going to be easy as the political environment which we are experimenting is extremely negative so I doubt investors are going to be too eager to take any risk at the current time.

adaseb

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Many stocks are already pumping lots off their lows. What traders are thinking is that next months CPI print will be low and that implies we peaked. Since we peaked the fed won’t doing anything crazy like 1% rate hikes.

So the markets are calm. But there is still a long way to go. Too much tensions in the markets with what happened with Pelosi and Taiwan earlier this week. However it looks like maybe that was the bottom.

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Quote from: LFC_Bitcoin on August 03, 2022, 01:06:46 PM

Every green monthly candle is a good thing but i am yet to see anything that says to me we are 100% out of the bear market. We’re still in a really tight, weakling price range between $19,000 - $25,000. Until we break out of this range we don’t know what’s going to happen. We can’t even break $25,000 at the moment.

I just think this is the usual bear market we have after a sustained bull market run. There isn’t anywhere near enough buying at the moment to confirm a change in sentiment.

Bear market until we break $30,000 again imo.

Yeah, it seems that the biggest barriers are $30,000, and it will take a lot of money just to get to that price range this year. But first, $25,000, but then again, we almost reach that price though, we go to as high as $24,000, but that growth was not sustainable and now we hear about US, China tensions over Taiwan. So when we thought that we can go high and shows some signs and moving to the next key resistance, the price goes down again.

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Quote from: yhiaali3 on August 04, 2022, 03:19:51 PM

We do not know if this recovery will last for a long time. The market has been in flux for a long time and this temporary rise does not indicate much. Yes, there was some recovery in the price of Bitcoin and some other coins, but this did not last long and began to decline, most likely this volatility stage will last for some the time.

After there is no recovery, of course we get over the last lower lows of $17,500. But still we are still struggling to just keep our nose above the $20k, and there are huge mental barrier around the $25k-$28k. So as what the title says here, biggest monthly gain? no, not going to happen, we will continue to fight $20k and until we reach $30k, there will be no movement next month or even up to December of this year.

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Quote from: LFC_Bitcoin on August 03, 2022, 01:06:46 PM

Every green monthly candle is a good thing but i am yet to see anything that says to me we are 100% out of the bear market. We’re still in a really tight, weakling price range between $19,000 - $25,000. Until we break out of this range we don’t know what’s going to happen. We can’t even break $25,000 at the moment.

I just think this is the usual bear market we have after a sustained bull market run. There isn’t anywhere near enough buying at the moment to confirm a change in sentiment.

Bear market until we break $30,000 again imo.

It can give us a good impression because we think the price is now ready to rise but like you said there are still some doubts if we can continue for the better or not because the past scenario's already give us a lesson to not get confident/excited too easily. This isn't 100% but I think this is only 10 percent for us to say that we are now out of the bear market. We already broke 19, 20, and 21k but the price is now staying at 22 and 23k levels.

Once we touch 24k then I believe that it will easily continue to 25k but that was only 25 to 30 percent of the "we are out of the bear market" meter, you are saying. I think 100 percent can still take a long time to happen.

yhiaali3

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We do not know if this recovery will last for a long time. The market has been in flux for a long time and this temporary rise does not indicate much. Yes, there was some recovery in the price of Bitcoin and some other coins, but this did not last long and began to decline, most likely this volatility stage will last for some the time.

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Quote from: yazher on August 03, 2022, 08:02:59 AM

Quote from: OgNasty on August 02, 2022, 03:04:20 AM

It is good news that the market has seen such strong action since the recent lows. I think we still have a few months of accumulation before the tides turn and the price starts it’s ascent for the next run. Support has been surprising though. The market to me feels pretty strong as we approach mtgox distribution time.

the good thing is, the price hasn't continued to further down to $10k which is really kinda hard for the investors to recover soon. Thankfully we are heading to the point where we see some light at the end of the tunnel this might be just some speculation but in reality, it could really happen. Based on the current crypto market movement, the price is slowly changing course positively and it's all green in the market this week until today it has never stopped. it's slowly regaining its old price, we never know it could be the first step to getting back to $30+ again or more.

That is more than enough for us, there isn't really a discussion about what to do when you have something so special in your hands. I get that people may or may dislike the fact that it didn't reach 10k. Liked is easy to explain because people want it to go up, but dislike is a bit more hidden which is the fact that it would take a while before people could realize they can't buy it that cheap again, hence why they wanted it to be cheaper.

This is why I do not see how that would not matter, I believe that it would be going up soon but that doesn't change the fact that even if it goes up, we could always keep on buying even at higher prices, because having more bitcoins could never hurt.

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As much as we wanted to remain bullish, I don't see this prediction happening. I mean just look at the price, we can't even get the hump of the next big barrier of $25k. Of course we wanted to see the price growing in the next couple of months. But if we are going to based on pure speculation like this one, hmm, might be better to not expect something big so that we will not be disappointed at the time. Maybe we have hit the all time lows already, so that is good enough for me. But to say that we are in rally wherein it's obvious there is none, it's better just to see how the market will progress and again, don't anticipate something big as we are still in the bear market.

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This is really good. I am really optimistic about price increases in the future.

dragonvslinux

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Quote from: mk4 on August 01, 2022, 10:49:51 PM

Before anyone gets too overconfident — a lot of times, we get the biggest short-term price increases in bear markets; so don't make conclusions solely based off this.

^Of course I'm not saying that we'll surely end up going back down either. Because no one knows. Tongue

It's true, this is pretty usual in bear markets. A few recent examples being +33% in April 2018 and +21% in July 2018, as well as +30% in January 2020 before dumping 60%. I'm also not suggesting that price will go lower, as I'm inclined to believe it won't (but for completely different reasons), it's more so that having a reasonable monthly gain of +16% after dropping over 60% within 3 months is kind of normal.

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Every green monthly candle is a good thing but i am yet to see anything that says to me we are 100% out of the bear market. We’re still in a really tight, weakling price range between $19,000 - $25,000. Until we break out of this range we don’t know what’s going to happen. We can’t even break $25,000 at the moment.

I just think this is the usual bear market we have after a sustained bull market run. There isn’t anywhere near enough buying at the moment to confirm a change in sentiment.

Bear market until we break $30,000 again imo.

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Quote from: mk4 on August 01, 2022, 10:49:51 PM

Before anyone gets too overconfident — a lot of times, we get the biggest short-term price increases in bear markets; so don't make conclusions solely based off this.

^Of course I'm not saying that we'll surely end up going back down either. Because no one knows. Tongue

Yes no one has really seen the future .
So if we become too much excited and conclude everything, then it won’t be a great deal to be honest.
In this bear market we have already seen many price jumps, so we shouldn’t be happy thinking that the bear market will end now. Always be prepared and treat this as normal.
Bear market will come to an end, but not so soon. We meed to wait till September atleast.

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Quote from: OgNasty on August 02, 2022, 03:04:20 AM

It is good news that the market has seen such strong action since the recent lows. I think we still have a few months of accumulation before the tides turn and the price starts it’s ascent for the next run. Support has been surprising though. The market to me feels pretty strong as we approach mtgox distribution time.

the good thing is, the price hasn't continued to further down to $10k which is really kinda hard for the investors to recover soon. Thankfully we are heading to the point where we see some light at the end of the tunnel this might be just some speculation but in reality, it could really happen. Based on the current crypto market movement, the price is slowly changing course positively and it's all green in the market this week until today it has never stopped. it's slowly regaining its old price, we never know it could be the first step to getting back to $30+ again or more.

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