Bitcoin just hit $8000 today and dropped right back

UserU

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Quote from: Baofeng on May 01, 2020, 06:00:07 PM

It was last year, May if I'm not mistaken, it did rally and went to $13k, however, it was followed by correction. Anyhow, this healthy correction was different though, we have the halving, so after climbing as high as $9400, we are back to $8800 today. Not bad though, at least it didn't go to $4k-$5k as other speculators have been saying. And it seems though that accumulation period is over as we approached the halving in about 10 days.

Yup, but we can't rule out another rally yet. Because most investors are gonna dump once the peak is reached.

Baofeng

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Quote from: UserU on April 30, 2020, 09:45:23 AM

Quote from: Taskford on April 30, 2020, 09:40:29 AM

2017 is great year for bitcoin and many people keep looking that we will see the same way on what happen before but I think this time will be different but there are strong points that we can see for the price to reach a 5 digits but the one I hope now is we can touchdown at $10k and if this one reached provably the hype will start which will add the pump.

Some time ago it did rally to 12K so yeah, not impossible to break the second (and even the first) ATH.

It was last year, May if I'm not mistaken, it did rally and went to $13k, however, it was followed by correction. Anyhow, this healthy correction was different though, we have the halving, so after climbing as high as $9400, we are back to $8800 today. Not bad though, at least it didn't go to $4k-$5k as other speculators have been saying. And it seems though that accumulation period is over as we approached the halving in about 10 days.

UserU

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Quote from: coinfinger on May 01, 2020, 11:08:10 AM

To think that we were barely over $6k a month ago, just barely over $7k a week ago thinking if we could break the $7.3k resistance, and now broke over $9k and dropped a bit back to $8.7k is actually amazing.

This should show couple of things about bitcoin, first of all resistance and supports means nothing to us, we could break them easily and even break them back to back without any issue at all, people think resistance means something but they are just there for show, we could break over them easily and even reach 2k+ higher than those levels as well.

Another thing is how bitcoin doesn't have an unlimited amount of increase, it does go up a lot but at the same time it doesn't really go up forever, eventually it reaches to a point buyers are saying enough is enough, that is when you know the increase stops.

Feels like 2019 over again. Rallied up to 12K, then lost steam because there was nothing else to cling on.

But this one is gonna gain way more momentum.

coinfinger

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To think that we were barely over $6k a month ago, just barely over $7k a week ago thinking if we could break the $7.3k resistance, and now broke over $9k and dropped a bit back to $8.7k is actually amazing.

This should show couple of things about bitcoin, first of all resistance and supports means nothing to us, we could break them easily and even break them back to back without any issue at all, people think resistance means something but they are just there for show, we could break over them easily and even reach 2k+ higher than those levels as well.

Another thing is how bitcoin doesn't have an unlimited amount of increase, it does go up a lot but at the same time it doesn't really go up forever, eventually it reaches to a point buyers are saying enough is enough, that is when you know the increase stops.

stadus

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Quote from: matchi2011 on April 30, 2020, 08:50:57 AM

Quote from: stadus on April 30, 2020, 08:13:34 AM

Quote from: UserU on April 30, 2020, 06:37:00 AM

Quote from: akram143 on April 30, 2020, 01:52:19 AM

Its $9350+ and looks still increasing. Cheesy

In my local exchange the prices are selling near $10K so it looks perfect time for the bullish trend to begins since we have few days left for halving.

You're right, the trend will most probably continue upwards until the halvening, which would either crash or remain high. Although I feel the former is likely to happen once the investors quickly realize their profits.

Still not too late to board the train! Cheesy

For me, this isn't the right time to ride, unless you want to play with the market now or you get FOMO'd.
The time for accumulation is over, investors now should be looking for the right timing to dump their bitcoins and take the profit from it.

It's tough to ride if you are not good with quick adjustment, those who bought in much earlier stage especially those who able to acquire in 6k levels
are surely thinking to sell out for profits and rebuy one the sentiments slowly goes down.
You need to do some good research before trying to place your entry risk is much higher since the pumped already happened best option is to
assess and observe for some time.

You need to be an expert in order to profit from short term investment, the price pump significantly in days only, so that should bring good profit already to those who successfully predicted that bitcoin will be bullish. Before the rally, bitcoin's price was just running between ranges from $6800 to $7100, any of that price range you buy, you'll be in good profit at the current price.

LogitechMouse

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The highest price of Bitcoin as of today is 9485.26 and right now, it is at 8714 already.

Is this the pre halving pump that we are expecting?? Hmmmmm maybe but no for me. If we will see, Tether minted some coins again and when this happens prices of Bitcoin go up. Its just that Bitcoin went up late and the event happened weeks ago but this always happen. Tether create new coins = price of Bitcoin goes up.

My resistance is at 9100 and it went pass by it going up to 9400. The only question for me is that will it sustain but unfortunately it doesn't. Profit taking takes place pushing the price go down and for sure it will go down further. My support is at around 8300.

hahay

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As I predicted before if the surge that occurred yesterday will at least exceed 8k but at least there is more shocking that the spike almost touched 10k and it is a very extraordinary recovery even though the correction finally happened again but this correction is not a big problem because of the halving later at least it will strengthen the price over time.

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Quote from: Taskford on April 30, 2020, 09:40:29 AM

2017 is great year for bitcoin and many people keep looking that we will see the same way on what happen before but I think this time will be different but there are strong points that we can see for the price to reach a 5 digits but the one I hope now is we can touchdown at $10k and if this one reached provably the hype will start which will add the pump.

The speculation against bitcoin is always become an interested thing. Especially in this situation, we have an event that can make bitcoin price passed its all time high prior. I've seen some prediction that created by some user in this forum and as far as I follow most of their prediction bitcoin price will meet a bull run phase.

The first phase was bitcoin price touch $8200 and after that bitcoin price will up more than $8500 as we can see now. Seem like the second phase is bitcoin must reach $9300 and we can see its price touch $10.000 with an easy way. I just hope that will be happen, at least can push bitcoin price always up and up.

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Quote from: uray on April 30, 2020, 04:29:19 PM

Quote from: stadus on April 30, 2020, 08:13:34 AM

For me, this isn't the right time to ride, unless you want to play with the market now or you get FOMO'd.
The time for accumulation is over, investors now should be looking for the right timing to dump their bitcoins and take the profit from it.

The market has given more than enough opportunity to invest and you are right, this is not the time to ride the market because of the general economic situation, looks like there is a correlation with the stock market and the crypto market recovered and went higher, i am yet to understand the real reason for the recovery in both the markets but i am surprised both these market are showing similar trends.

The stock market isn't making any recovery by now, but it going down as the pandemic isn't hitting yet to its peak. And I see a big difference to crypto market seeing it pumps, but we shouldn't be giving confidence on this because we even don't know what is in the mind of the whales.
Yeah, FOMO might get started again and I wasn't like to be a part of it. Better to observe the market trend rather than riding on it and feel the bullish coz it more surprising if we fall into the trap.

uray

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Quote from: stadus on April 30, 2020, 08:13:34 AM

For me, this isn't the right time to ride, unless you want to play with the market now or you get FOMO'd.
The time for accumulation is over, investors now should be looking for the right timing to dump their bitcoins and take the profit from it.

The market has given more than enough opportunity to invest and you are right, this is not the time to ride the market because of the general economic situation, looks like there is a correlation with the stock market and the crypto market recovered and went higher, i am yet to understand the real reason for the recovery in both the markets but i am surprised both these market are showing similar trends.

UserU

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Quote from: Taskford on April 30, 2020, 09:40:29 AM

2017 is great year for bitcoin and many people keep looking that we will see the same way on what happen before but I think this time will be different but there are strong points that we can see for the price to reach a 5 digits but the one I hope now is we can touchdown at $10k and if this one reached provably the hype will start which will add the pump.

Some time ago it did rally to 12K so yeah, not impossible to break the second (and even the first) ATH.

freedomgo

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Quote from: Taskford on April 30, 2020, 09:40:29 AM

Quote from: UserU on April 30, 2020, 09:30:56 AM

Quote from: stadus on April 30, 2020, 08:13:34 AM

For me, this isn't the right time to ride, unless you want to play with the market now or you get FOMO'd.
The time for accumulation is over, investors now should be looking for the right timing to dump their bitcoins and take the profit from it.

I want to, but funds are low so I just have to savor whatever remnants of Bitcoins I have haha.

I joined the FOMO way back in 2017 and it was exhilarating when you just see whatever you invest just going up and up.

2017 is great year for bitcoin and many people keep looking that we will see the same way on what happen before but I think this time will be different but there are strong points that we can see for the price to reach a 5 digits but the one I hope now is we can touchdown at $10k and if this one reached provably the hype will start which will add the pump.

Just relax mate, we have a lot of time to make it happen, even if after this pump bitcoin will dump, it will not end the expectation of the people that the bull run will come soon. What we are seeing now is great but we can't ensure that the pump will continue because we've seen a lot of times after 2017 of the pump and dump scenario.

Taskford

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Quote from: UserU on April 30, 2020, 09:30:56 AM

Quote from: stadus on April 30, 2020, 08:13:34 AM

For me, this isn't the right time to ride, unless you want to play with the market now or you get FOMO'd.
The time for accumulation is over, investors now should be looking for the right timing to dump their bitcoins and take the profit from it.

I want to, but funds are low so I just have to savor whatever remnants of Bitcoins I have haha.

I joined the FOMO way back in 2017 and it was exhilarating when you just see whatever you invest just going up and up.

2017 is great year for bitcoin and many people keep looking that we will see the same way on what happen before but I think this time will be different but there are strong points that we can see for the price to reach a 5 digits but the one I hope now is we can touchdown at $10k and if this one reached provably the hype will start which will add the pump.

UserU

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Quote from: stadus on April 30, 2020, 08:13:34 AM

For me, this isn't the right time to ride, unless you want to play with the market now or you get FOMO'd.
The time for accumulation is over, investors now should be looking for the right timing to dump their bitcoins and take the profit from it.

I want to, but funds are low so I just have to savor whatever remnants of Bitcoins I have haha.

I joined the FOMO way back in 2017 and it was exhilarating when you just see whatever you invest just going up and up.

matchi2011

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Quote from: stadus on April 30, 2020, 08:13:34 AM

Quote from: UserU on April 30, 2020, 06:37:00 AM

Quote from: akram143 on April 30, 2020, 01:52:19 AM

Its $9350+ and looks still increasing. Cheesy

In my local exchange the prices are selling near $10K so it looks perfect time for the bullish trend to begins since we have few days left for halving.

You're right, the trend will most probably continue upwards until the halvening, which would either crash or remain high. Although I feel the former is likely to happen once the investors quickly realize their profits.

Still not too late to board the train! Cheesy

For me, this isn't the right time to ride, unless you want to play with the market now or you get FOMO'd.
The time for accumulation is over, investors now should be looking for the right timing to dump their bitcoins and take the profit from it.

It's tough to ride if you are not good with quick adjustment, those who bought in much earlier stage especially those who able to acquire in 6k levels
are surely thinking to sell out for profits and rebuy one the sentiments slowly goes down.
You need to do some good research before trying to place your entry risk is much higher since the pumped already happened best option is to
assess and observe for some time.

stadus

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Quote from: UserU on April 30, 2020, 06:37:00 AM

Quote from: akram143 on April 30, 2020, 01:52:19 AM

Its $9350+ and looks still increasing. Cheesy

In my local exchange the prices are selling near $10K so it looks perfect time for the bullish trend to begins since we have few days left for halving.

You're right, the trend will most probably continue upwards until the halvening, which would either crash or remain high. Although I feel the former is likely to happen once the investors quickly realize their profits.

Still not too late to board the train! Cheesy

For me, this isn't the right time to ride, unless you want to play with the market now or you get FOMO'd.
The time for accumulation is over, investors now should be looking for the right timing to dump their bitcoins and take the profit from it.

UserU

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Quote from: akram143 on April 30, 2020, 01:52:19 AM

Its $9350+ and looks still increasing. Cheesy

In my local exchange the prices are selling near $10K so it looks perfect time for the bullish trend to begins since we have few days left for halving.

You're right, the trend will most probably continue upwards until the halvening, which would either crash or remain high. Although I feel the former is likely to happen once the investors quickly realize their profits.

Still not too late to board the train! Cheesy

stadus

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The highest thus far was $9400 before the price drop below $9K now, I think it will not stop at that price, it's possible that it will bounce back again and will continue to break some big resistance, I don't know what price it would stop but I'm liking the FOMO at this stage.

lienfaye

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Its nice seeing the market on green status because its been a while since we last saw it on bullish trend. It might because of the coming halving thats why the price is soaring high, investors are looking forward for that event to happen due to impact of it just like in the past history.

Well it seems the situation is turning good and its favor to us investors. If the price went down again its because of the investors taking profit already and contented with what they gain.

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Quote from: akram143 on April 30, 2020, 01:52:19 AM

Quote from: UserU on April 29, 2020, 07:49:49 PM

Nearing 9K now, that's one major jump right there.

Its $9350+ and looks still increasing. Cheesy

In my local exchange the prices are selling near $10K so it looks perfect time for the bullish trend to begins since we have few days left for halving.

Downtrend has already started. We are below 9k now. Hope this is just a correction before weekend and on Monday the growth will continue. How this was not that "bull" have to show atm. Anyway, this was a great 1 day rally and all greedy holders jump off the rocket

Topic: Bitcoin just hit $8000 today and dropped right back (Read 570 times)