Bitcoin is difficult to rise above the price of $ 4000?? - page 7.

creeps

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Quote from: AhmadM on March 02, 2019, 03:13:48 PM

Just for your info that on 24th February (last week) the bitcoin price almost touched $4200, unfortunately, its only survive one day.

We hit that price on a not so easy trend so I think the pressure on top is really high and that is why bitcoin was not able to sustain that level. We will see another trend like this in the future as we continue to try the resistance level to be broken. If there’s another pump this month, we can see a more strong price volume with bitcoin and hopefully to go beyond that and sustain it.

NeuroticFish

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Quote from: indoagung88 on March 02, 2019, 02:42:47 PM

Is it because of the market that hasn't really recovered? or is there bad news?

I think that indeed the market is not fully recovered. The good news started to pile up lately. Bitcoin (and Ethereum) indices listed at Nasdaq are a good sign imho that Bitcoin is getting the right attention.
Of course, the seasoned traders (if/when they come) will fill their bags without affecting the price much.

The expectations are high, the halving is starting to be visible at the horizon. But this doesn't mean that Bitcoin will rise. Or at least not "tomorrow". The big speculators are still strong (actually they seem to grow stronger every day). Even a big dump is always possible. Many keep telling that the bottom is not in yet.

So.. yeah, TL;DR: no bad news, but we simply don't know what's to happen next.

RareFortune

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The market is evolving and price correction is happening, Bitcoin is still young and it would take some years before the full realization but I think the market condition has been affected through a lot of events like regulation, hard fork's, scammed projects and many more.

AhmadM

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Just for your info that on 24th February (last week) the bitcoin price almost touched $4200, unfortunately, its only survive one day.

indoagung88

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Quote from: franky1 on March 02, 2019, 02:56:34 PM

its the mining:market dynamics

when its cheaper to buy coin rather than mine it, people buy it. when its cheaper to mine it than buy it people mine it.
when prices get above a certain level and it becomes profitable to sell, people do that.

if a price exceeds this 'value' area and prices spike into speculation, expect it to correct back down into reasonable value area.
the only way to have sustained value increase is to have the costs of obtaining it sustainable. which for multiple years has been the hashrate. which while the whole sell off of s9's to be used on altcoins and the fresh purchases of s15(bing slow) to replace, and a upcoming(but not yet here) s17 range.. has not shown much hashrate rise to sustain and give the market higher bottomline support to encourage sustained growth

Well, I know about that part of the crypto market dynamics. But won't there be an opportunity to change quickly? Maybe bulls will be present in the near future? Hopefully this hope is answered by time. Thank you for the insight you gave ...

franky1

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its the mining:market dynamics

when its cheaper to buy coin rather than mine it, people buy it. when its cheaper to mine it than buy it people mine it.
when prices get above a certain level and it becomes profitable to sell, people do that.

if a price exceeds this 'value' area and prices spike into speculation, expect it to correct back down into reasonable value area.
the only way to have sustained value increase is to have the costs of obtaining it sustainable. which for multiple years has been the hashrate. which while the whole sell off of s9's to be used on altcoins and the fresh purchases of s15(bing slow) to replace, and a upcoming(but not yet here) s17 range.. has not shown much hashrate rise to sustain and give the market higher bottomline support to encourage sustained growth

indoagung88

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I see something heavy and maybe difficult, when the price of bitcoin will touch $ 4000, then drop dramatically down. In your opinion, what is happening with the current condition of bitcoin. Is it because of the market that hasn't really recovered? or is there bad news?

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