Bitcoin just broke $6000! (2019) - page 2.

Supercrypt

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Quote from: hatshepsut93 on May 08, 2019, 08:26:58 PM

It's really great to see that we've finally broke the 6k resistance only a bit more than a month after being in $4k territory, even if the price will drop to low $5k again, we still have a very decent foundation for the new bull run. I would even say that this seem to be unfolding faster than during the previous recovery of 2015-2016, and maybe this year will even close at $14-16k or higher. If this will happen, the new ATH will also be pretty big, considering the halvening in the next year.

That’s right, it actually took just a little bit more than a month for the Bitcoin market to set foot on this value, if the community continues to hold this value firm and we keep getting more investors, it seems we might see the bull run sooner than we expected.

I am waiting to see bitcoin set path on the value of $7k and see if it will follow the same pattern as what it did in that last bull run, it was from that value that we started getting speedy increase that made bitcoin reach its ATH within 7 consecutive weeks. How interesting it will be to see the look in the eyes of people who still believe bitcoin will go back to $4000.

pooya87

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Quote from: Sithara007 on May 09, 2019, 11:04:51 PM

Quote from: pooya87 on May 08, 2019, 11:28:42 PM

Binance is an altcoin exchange not a bitcoin exchange so it shouldn't have affected anything. not to mention that the momentum is there so you can't really expect something like that to put a dent in it.

Nope. You are wrong there. Have you checked the Bitcoin dominance? During the past 2 months, it has increased from approx. 50% to the current levels of 58.5%. What happened is very clear. Bitcoin is undergoing a bull run right now, but the alts are still stuck at their previous levels. There is a strong possibility that some of the amount that was previously invested in the alts are now being diverted to BTC. This may be partially due to the issues with Binance, which is in a very bad state now.

that is not dominance it is just a comparison between supply of bitcoin and the aggregated supply of more than 2500 altcoins which coinmarketcap.com calls "dominance" and the only thing that it shows is how many new shitcoins are being created. when there is a huge increase in their numbers and also some big pumps in the coins with the largest supplies that percentage decreases and when the creation of new coins and also the pump in those coins stops that ratio increases. it doesn't show anything else.

as for the bold part, it would have been true only if people did this:

Code:

sell alt for USD then invest USD in bitcoin!

that would mean USD is being invested in bitcoin and pushes its price up but you have to be really dumb to do that! what happens in reality is this:

Code:

sell alts for bitcoin

and that does NOT affect bitcoin price at all. the only thing that it does is that it dumps altcoins

maxreish

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Quote from: thecodebear on May 08, 2019, 08:15:56 PM

Back over $6000 for the first time since November!

Good news! Been waiting for that $6,000 for so many months and it did come. Next target is $8,000 and $10,000. Let's just hope for another bull runs. I can sense some good profits now. Obviously, there will be an additional investors when such good news like this are happening. Expect so many enthusiasts and experts to make a noise in crypto industry.

Sithara007

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Quote from: pooya87 on May 08, 2019, 11:28:42 PM

Binance is an altcoin exchange not a bitcoin exchange so it shouldn't have affected anything. not to mention that the momentum is there so you can't really expect something like that to put a dent in it.

Nope. You are wrong there. Have you checked the Bitcoin dominance? During the past 2 months, it has increased from approx. 50% to the current levels of 58.5%. What happened is very clear. Bitcoin is undergoing a bull run right now, but the alts are still stuck at their previous levels. There is a strong possibility that some of the amount that was previously invested in the alts are now being diverted to BTC. This may be partially due to the issues with Binance, which is in a very bad state now.

STT

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BTC rising always puts pressure on alt coins as in exchange they have also gained value by accident almost. Its just part of the normal cycle, they will still gain overall I would guess but on an exchange rate basis the rate goes red.

BTC itself is very strong above the 8 day average for a while now, no real pull back even while hesitating in the 6k area its not been proper resistance or a source of sell orders.

This is very strong jagged line upwards. I would say it needs to pull back some for stronger basis long term. THis is just a burst phase upwards is how I characterise this and I dont think it will always be like this in price movement

Slow death

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Quote from: thecodebear on May 08, 2019, 08:15:56 PM

Back over $6000 for the first time since November!

this being a very good month for bitcoin:

but at the same time this is a big nightmare for altcoins:

altcoins are falling in relation to bitcoin

altcoins are falling in relation to USD

we will see how the next weeks will be, but until now who has altcoin has reasons not to sleep well

barota

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yeah bitcoin brok 5800 and 6000 This is amazing!!! i dont know what is the cause of this big pump? we should wait and see the market

Bezobraznike

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Bitcoin will have another bull run that's for sure.
But I doubt that things will go so fast and straight up as it was in 2017 ever again. I think if the raise we watch now may be called as new bull run, it is going to be much slower and unstable.
Anyway it is really a good news to see 6000$ again, it passed really much time sinse November of the last year.

South Park

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Quote from: mk4 on May 08, 2019, 10:01:33 PM

Bitcoin just cut through the $6000 resistance like it wasn't there in the first place. And with the recent Binance news that I expect to at least slow things down a bit? Breaking $6000 was just way too easy in my opinion. Not sure about this mateys, I'm hugely skeptical if this would continue with an upward movement.

I am surprised of this, when I found out about what happened with binance I thought we will see some drop in the price of bitcoin but this did not last, this is a very powerful sign that what we are seeing now is a change in the market conditions, since just a few months ago anything that resembled a bad news was enough to contain the price of bitcoin, and now the news that one of the most important exchanges around the world was hacked was not enough to stop bitcoin from breaking the 6000 dollars resistance.

Fredomago

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Quote from: CoinEraser on May 09, 2019, 07:41:06 AM

The price of Bitcoin is rising again and that is good. It was clear that the price would go up again, but the time until then is always hard to bear. I am already very curious whether we will also see again a price over 10k bucks this year. I remain optimistic in any case and hope as always for the best. Wink

It's still possible as the market trend is now shifting between the bear and the bull, if each month the value will surpassed every $1k assuming that this bull will be slowly but steady moving forward and will not fall back, just keep being optimistic and believe that Bitcoin will provide decent earnings.

thecodebear

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Quote from: pooya87 on May 08, 2019, 11:28:42 PM

Quote from: thecodebear on May 08, 2019, 08:40:18 PM

Yeah hitting $6k is great. Bear market ended in late 2018, the bottom ended and the bull run started April 1st,

finally! i've been saying that for a long time but at the time when we were at the bottom and below the bottom nobody wanted to accept it and instead wanted to wait for $1000!!!

Quote from: mk4 on May 08, 2019, 10:01:33 PM

Bitcoin just cut through the $6000 resistance like it wasn't there in the first place. And with the recent Binance news that I expect to at least slow things down a bit? Breaking $6000 was just way too easy in my opinion. Not sure about this mateys, I'm hugely skeptical if this would continue with an upward movement.

Binance is an altcoin exchange not a bitcoin exchange so it shouldn't have affected anything. not to mention that the momentum is there so you can't really expect something like that to put a dent in it.

$6000 was easy because we were in a bubble!

Ha! Yeah when Bitcoin fell from $6000s to $3000s it was immediately obvious we were at the bottom of the market - after not buying bitcoin in just over a year I immediately started buying again when I saw that. I of course didn't know where exactly the absolute bottom would be, or where exactly the bottom range would be (at first I thought it might bounce up from $3000s and settle in a bottom in the $4000s instead of settling in the $3000s, wasn't sure which would happen). But the one obvious thing was when that drop happened in November it was the bottom and it was time to start accumulating as much as possible for as long as it was at the bottom. And when it spiked from $4200 to $5000 the night of April 1st, that was a clear as day sign that the bottom was done and bull market had started. I would always laugh while bitcoin was at the bottom and people said they were waiting for $2000 or $1000, or if they said they were waiting for it to not be on the bottom anymore so they could buy in higher because they thought buying in after the bull run has started is better/safer than buying at the bottom. Now I laugh when people say we're still in a bear market despite bitcoin obviously being in a bull market ever since the day it spiked above $4200.

Reid

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As I said those last months here. What goes down must come up. Same with other coins that will be pulled by the bitcoin price hike.

But is it really that of a need to keep posting every $100 dollar change in price here in this forum? I mean we are seeing it too. Actually it prompts on my smartphone every time. Grin

Bitcoin will seek more value, it aint over. It is just the start. It is still a baby that needs nourishing.

daarul50

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Many don't expect that the price of bitcoin will recover quickly to the price point of $ 6k as the next resistance and support. I think the bull run will not be long but the increase will not be too fast because it can become vulnerable to future movements.

harizen

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Just don't be overconfident. Instead, always be open to the possible turnaround.

Execute the strategy according to the plan. The current price increase is showing more built-up support which can leads to more fuel for another journey to the moon but never takes away the chances that it might break and spoiled.

Quote from: Gaff on May 09, 2019, 08:30:48 AM

Although that $10k was impossible to be achieved..

It was always possible even if we say we touched the $1,000 level during the bear market.

It's just that, I don't see why people too much excited about it. Didn't they remembered the aftermath of 2017 hype. We don't want to happen it again.

Gaff

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Quote from: CoinEraser on May 09, 2019, 07:41:06 AM

The price of Bitcoin is rising again and that is good. It was clear that the price would go up again, but the time until then is always hard to bear. I am already very curious whether we will also see again a price over 10k bucks this year. I remain optimistic in any case and hope as always for the best. Wink

That's sounds great to hear from you mate, we should be braver enough to face the challenges behind of possible bear market while we're in the midst of a rising price of btc. Although that $10k was impossible to be achieved, but I am always looking forward for that to happen soon. There's nothing wrong to wish for another possible things to happen, and as the trend these days in favor to gradual price increase I think were not far from reaching the goals that we have in each and every asset.

CoinEraser

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The price of Bitcoin is rising again and that is good. It was clear that the price would go up again, but the time until then is always hard to bear. I am already very curious whether we will also see again a price over 10k bucks this year. I remain optimistic in any case and hope as always for the best. Wink

mk4

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Quote from: pooya87 on May 08, 2019, 11:28:42 PM

Quote from: mk4 on May 08, 2019, 10:01:33 PM

Bitcoin just cut through the $6000 resistance like it wasn't there in the first place. And with the recent Binance news that I expect to at least slow things down a bit? Breaking $6000 was just way too easy in my opinion. Not sure about this mateys, I'm hugely skeptical if this would continue with an upward movement.

Binance is an altcoin exchange not a bitcoin exchange so it shouldn't have affected anything. not to mention that the momentum is there so you can't really expect something like that to put a dent in it.

That's a good point. Though I was thinking more of like a psychological effect or something, that may probably cause people to exit the bitcoin or the cryptocurrency markets in general because of the fear of them being hacked(even though you can easily prevent this by holding your funds in your own non-custodial wallet).

Vishnu.Reang

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Quote from: thecodebear on May 08, 2019, 08:15:56 PM

Back over $6000 for the first time since November!

I wasn't much surprised either. And this time, there was hardly any major resistance before 6K. I am analyzing the bull run from $3,200 per coin to the current levels. The only instance when there was a major resistance was between $4,500 and $5,000. Apart from that, it was a very smooth bull run. If the trend continues, then I guess the next resistance level will come up at somewhere around $9,500. Till then, it will be a slow, but smooth rise. But it will be difficult to predict how much time it is going to take, in order to achieve 10K.

El duderino_

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Quote from: thecodebear on May 08, 2019, 08:15:56 PM

Back over $6000 for the first time since November!

I remember we where getting BORED AF when we where @the 6K-ish range for that period of time, now it feels like a needed achievement and a pleasant place to stay for a while, building brick by brick and go to 5-digit, new ATH, and then explore the beyond.

However we have had a long period around the low level prices, but the upswing was again fast as well.

This is BTC and it will write its own narrative, as long we can deal with that and just ride the waves then we will be all fine for the long haul Cheesy

leea-1334

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Meanwhile, other altcoins are still struggling to get back their previous 2019 highs. It seems now every time Bitcoin goes for a new high, altcoins also climb but struggle to make an impact,,, it is as if now Bitcoin does not care about the rest of the market and is just doing its own thing.

I wonder if this will see ETH break $200, and Litecoin break $100?

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