Topic: Bitcoin Price Fails to Record Big Breakout But Market Remains Bull-Friendly (Read 217 times)

As for me, it is just normal that bitcoin has low volume when it is moving sideways but if you observe it when it is increasing then volume increased with it too. Just like happen last year when the end of the year, there is even a bear market first before the bull market happened and along with the price increase, the volume slowly increased as well that caused a parabolic move because of the high demand but then I would still prefer if there is stable movement up instead of sudden movements because its downfall would be big too if ever.

Why is the ETF approval that important? I believe there's a lot of hype associated with it and there won't be too much of an increase in price because after ETF, the investors need not to have BTC but its contracts, the only difference will be the number of BTC to be bought per contract by those institutional investors. You're right in terms that big investors are looking for these ETFs for a smooth purchase and sale of BTC without having to own it, but trust me, no matter what, it doesn't really make any sense in going in the FOMO situation and even if any ETF gets approved, we're not going straight $20k tomorrow, not even $15k as I believe markets will go sideways for a very long time continuing the current trend (or bearish short term if it follows the support-touching scenario one more time, taking it all down to $4500).

And I think that we won't recover this year. There are predictions by some popular traders that we'll go to 10000 this year but I just don't see it happening. Some wise man I don't remember who said that this market will require a catalyst to move and thys can be the ETF approval. So if it happens to be in spring 2019 we can expect the next bull market to start there.

Possible but there would be no assurance or guaranteed to reach that price yet theres no any bullish news that I do see and also there are 3 month left on this year and if we do base on how bitcoins price moves
then reaching 20k wont be that possible.Only sudden huge price swings can possible give that price range again.

How can be so sure? Not all years would be similar.

Yeah, so the market is basically flat right now.  It's almost like watching the silver market fluctuate around $14.50 or so.  Some days you get a gain of 1% or so, other days there can be less--there's not much to be said about silver or bitcoin right now, because neither is moving in any direction (at least short-term).

You mean next year?  It certainly is possible, and I'm hoping so.  However, you have to be careful when you listen to people talk about their predictions.  Nobody can tell you with a straight face that bitcoin is going to be at $20k next year, or even when it'll break out of the range it's been trading in for the past few months.  I've long been skeptical about technical analysis, since it seems like TA people are looking to the past to predict the future, and for the most part that isn't rational.  Plus they don't seem to be the ones who make money (at least in the stock market).

for sure if the market didn't show a progress on this month.  Because December is very close now and there's still no sign of bullish ,  maybe let's wait on mid results who knows probably it gaining strength now to surge and waiting for the right time to rocketed suddenly again.  Lmao

Then why are you worried a lot about its price? There are a lot of other issues to be discussed on (which I've already discussed in my previous comment), and unless they're resolved, I don't see any reason why it should be so expensive by reaching $20k. Do you really think bears would stop their shorting games when they know they can make more money over bets made by longs as when everyone is bullish, that's the best time to burst their speculative hope by breaking down the value to support levels and making longs helpless and come on their knees - that's the power of leverage trading.

I do not agree. How good is the market? Now the market just froze. Let's hope that the market does not stop for a long time. Now it’s just pushing people out of Bitcoin. But when people stop watching the price of Bitcoin, then he will shoot.

It only means that investors are waiting from the outside and not wanting to enter the market unless there's some good news to ride the second wave to at least reach 5 figure mark.

This is the first time I have been in a bear market so its good that at least I know how to react and be more flexible. As for new ATH this year, I seriously doubt that we are going to get there. So let's see how it moves in the next 48 hours, after all this market is based on pure speculation so we can't really say if the bear season is over or the bulls is slowly gaining some grounds.

NO, I didn't invest all the money in Bitcoin. I have invested in Bitcoin for 5 years and made a lot of money.

There will also be a financial crisis in China this year. If 50 million people enter the market, the bull market will appear immediately.

Those who went all in on BTC or bought it with amounts they couldn't afford to lose at its all time high (maybe you're one of them) ask these questions. Normal recovery doesn't consist of pumps in prices without any reason, no doubt everyone here wants Bitcoins to succeed, but not all of us want it to go to that level with such quick speed because this shows that the level of speculation is more than the adoption %. Tell me why Bitcoin should be at $20k, a valid reason is needed. We're not even done with the scaling issues yet and testing out new technologies such as LN to see if it could help out few audience doing some transactions off-chain unless they're needed to go onchain when channel gets closed. Let's get there slowly and steadily, else we'll again see the repetitive pump and dump scene where BTC went up to $20k (as you want it now) and then get dumped down 1/4th its value which makes it look like a ponzi scheme under a free-fall.

Yes, we need to be patient

i think you need to zoom out from a 10min-24 hour view
a $100 increase treated as a big breakout??

also you say drop to below $6k... i think you need to relax and stop posting such speculation.

..
trend anals are narrow minded and see 2017 and think it will repeat itself. sorry but no.
there was a reason for 2017 spike. that reason does not exist this year

same as there was a reason for 2013 which did not exist for 2014,15,16,17,18

just thinking a "breakout" will happen because someone sees a chart and makes a line is a futile and foolish mthod of choosing future prices.

you need to understand the reasons and causes.

that said
bitcoin has always been on a bull
2016: always above $300
2017: always above $900
2018: always above $5800

these temporary hills and mountains are not where the bulls and bears play. its where the cubs and calves play
sustained value is below the speculative price. and the sustained value is on the rise not a fall

dont react to the little daily drama. and reporting the daily drama is worthless because by the time you have wrote about it, it already happened and is just a history lesson.

standing at the top of a tsunami that happened 11 months ago or the peak of temporary waves that happen daily looking down, teaches nothing but "speculation happens". instead stand at the underlying water level looking up.

Probably not on this year (2018) , but the bullish run that resulted to 2017 ($20,000) historical price range is a possibility that every bitcoin holders know and looking forward to.

The breakthrough isn’t about the worries of low supply, but the financial crisis that is experienced globally that is causing the hoarding of assets, not just bitcoin that is being affected because the stock market is also straggling.

Since when are these marginal price movements news worthy? Clearly a sign of how boring the market has become if people start to care about it.

He's talking about a normal recovery, not a reset back to insanely overbought peak levels as we have seen them last year.

I'm actually happy that we're going through a bear market as we speak, because the newbies who entered last year need to be teached a firm lesson in how markets works. Stop living inside a get rich quick bubble, Bitcoin isn't going to make you rich, just wealthier throughout the forthcoming years, and that's if you have the balls to keep holding.

We don't have to depend solely on promises. In this market anything can happen. The actual cause of the price fluctuations has not be fully determined. So whatsoever the market price brings in we take. One thing is certain, we needs to be positive.

Do you think Bitcoin will be restored to $20,000 last year?

I think that we will see a normal recovery of the cryptocurrency market closer to December of this year!

Over the past 24 hours, despite the promising price movement of Bitcoin from low $6,500 to $6,600, BTC has fallen back down below the $6,600 mark. Traders have offered contrasting viewpoints throughout the past two days. Some have said that the low volume of Bitcoin is a concern for the market while several stated thatThe post Bitcoin Price Fails to Record Big Breakout……

https://www.trackcoinmarket.com/en/crypto-news/31786/bitcoin-price-fails-record-big-breakout-market-remains-bull-friendly