Topic: Bitcoin recovered 7.6% from Friday: what are the prospects? (Read 298 times)

Most of the times, the enthusiasm will surely start growing the more with news like this, but I really do not expect us to just all of a sudden start having some bullish momentum in that short period. The market will still take its time to finalize where it stands which is very normal and with that, we may not get to even see that much in huge growth this year.

Moreover, things are still looking good for now, and we just hope we may be able to find some upper level to consolidate without having to go back lower.

If this continues like this is could be that first target is returning to 10k. With this slow and stable uprising in price this is really good news for the moment. We had some setback in past few month bu think this is the right time for bitcoin and some other ctypto to slowly recover price.

Heres my current view, the obvious target would be the 10,000 figure.   Of course this is purely arbitrary figure and every different country has a different figure in place here but dollar generally attracts most attention


https://i.imgur.com/kkAWwe3.png

There are finer measure then just 10k, I was looking at 9277 as a first rung on the ladder to recover the early March peak.   I think that is the immediate prospects OP might be asking about, confirm 9277 as support would be positive action.

Well, I feel the only thing that can guide anyone is to believe in the long term prospect and growth of bitcoin, no matter what is happening in the market. Most of these financial experts already know that, but sure, they will always want to have a better hand filled with this asset to benefit from it in the long run. No matter how it is though, we still have a lot of psychological resistances to break and that is the only time we can know if we are going anywhere or not.

Neither did I and everything before the huge reversal pump stated it would be another trend downwards but that is how market is anyway. Market's recovery progress is into action now a days I guess which will lunch the bullish market in coming days.

Sometimes we expect something and sometimes we get to see the other thing happening. This is the main reasons investors do not always bother looking at the craziness in any market and would rather just keep holding irrespective of what is happening. I believe so much in the long term potential of bitcoin and to me, it is all that matters.

It's likely we'll see some sustained growth. People have been coming out in support of Bitcoin and hinting at them buying into the markets again. Take for example, Dan Bilzerian who has a net worth of easily over 100 million:

http://bitcoinist.com/back-crypto-gambler-dan-bilzerian/

Not only will this add a whale into the market, but it also brings people closer to the idea of reinvesting into Bitcoin because they see this man putting his money in as well. If the trend continues, there will be growth for the next few weeks, but there may be a few slow downs along the way.

It is quite a stable fluctuations and a gradual increase this week breaking the stronghold of 9K USD. The recovery made a lot of progress even though some of the social media giants and google proclaims their bans and plans with the ICO and some platforms that are related to the cryptocurrency, it is still the dip as the ATH of 20K USD was beyond the reach of the pricing, real bull run will starts after breaking the resistance of 15K then bashing the barriers of the ATH.

It is possible that Soros started buying up all bitcoin since the beginning of this year. And soon there will come a time when he wants to fix his profit.

But it can also make you wretched overnight depending on how urgent the fund is needed. Yes, everybody is happy at this current situation with everyone making a point but the fact is there is need for caution. A lot of news have been coming to aid the upward trend in the past couple of days from Soros, to Lightning Network down to the allowance in the Quran based on interpretation but what surprises me is that any time there is an upward trend we all forget about what factors that worked together against bitcoin to bring it down in the first place and also forgetting that these forces are not retreating until they achieve their objectives. For me, until bitcoin price can get to the all time high witnessed last time and surpassed it, there is need to thread carefully.

news such as the one about George Soros and things like that will always contribute to the popularity of bitcoin and as a result to its price rises. but they do always exist! even during the drops. they are never the cause, they are more like the help.
it is something like how FUD works but in an opposite way. FUD never drops the price, it only makes the drop bigger.

I read that $9000 has been touch briefly though before the price goes below for a bit. As per coinmarketcap the price is $8,934.76   so its still possible that we can get it at the end of the day. (depending on your timezone). It's going to be interesting if the price is broken and see it sustainable, because if it is, then yeah, a bull run is not far away. Don't worry bro, I'm with you with this prediction so let's see how it goes. I don't know I'm pretty excited though because I have this feeling that the bearish sentiment is over.

I would rather consider the breaking of the $9400 as resistance than $9100. Nevertheless, it still seems the momentum of buying is still paving way for the bulls and hopefully if we are able to hit this, we may start seeing some really huge buy in from there, but I do not think this is going to be happening this week but I may be wrong.

However, there has been some interesting news in the market lately, which I believe the OP has stated some of them, and the response so far has been awesome, let's just hope the fun does not end up being shattered.

I think we’ve hit bottom for the time being and I think it’s going to be an uptrend from here, possibly to all time highs - with some dips along the way. However with the amount of market manipulation that goes on it’s impossible to be sure about future price anymore.

People shouldn't believe everything others are saying. Let's assume he bought himself into this market one way or another, then firstly we don't know if he bought futures or options, or Bitcoin itself, and secondly, we don't know how much he bought. Just because he is a multi billionaire doesn't mean he will actually invest billions into something. He might as well just play around with a few million, which in current market, is peanuts.

I think the increase itself is the actual reason the price is going up further. I know it sounds weird, but it's not weird if you think about it. The more the price is going up, the more likely people are willing to buy Bitcoin, which happens in every market. It's not only regulars finding that important, but also serious investors, because that grants them the confirmation that we have actually made a significant sentiment shift. People want to see old trends broken before they invest, and this might be it. The further away we move from the bottom, the less damage one single larger dump can inflict.

you could have called this a pump, a FOMO buy or whatever when it first went up from $6800 to $8000 in about 1 hour but you would still be wrong back then too. this is none of these things. maybe we saw some traces of FOMO as we always see during all rises but it was not the main reason.
price is simply rising and it is going back to its normal levels. then after that with the increasing adoption price will continue to rise.

It is the basic criteria that every one will follow because as a trader every one will buy at low and sell them at high. Already the price of bitcoin is growing and we have seen some huge potential in it, people has lot speculation about the bitcoin market.

ever since $6800 that we saw a big jump up, we have been seeing a solid slow rise upwards. and we are headed for $10k and above. i don't see anything significant about $9100. it is just another price level to be broken in near future. $10k on the other hand could be the "psychological barrier" that you are talking about since it is the round number we are headed to.

We all know that, but i think that this pump was just purely fear of missing out of the train to get over ten thousand dollars in a few days, that is why we are seeing a huge buy pressure on the entire market, including all the altcoins.

I am not sure if George Soros was behind the recovery because I had never heard of him until two weeks ago. I am happy that bitcoin has recovered but I have been saying this for a while now and I will tell again. This seems to be a very short bullish period. We may come back to the bearish period and have another short bullish period after a while,and the same thing happens for a few weeks,and then we may get into a bigger bullish period,followed by a bearish period.

But its better to speculate to know what price we can sell our bitcoin once the price reach your speculation. And all investor know that the price will rise or down so we need to be wise buy low and sell high and have patience get more profit.

in the coming week bitcoins is going o surpass the 11000 barrier continuing its positive steady growth that it has been experiencing since the last three weeks , come may its going to take off going well over 15k so again you should invest in a bitcoin at least for now because if you do you will make a profit of at least 5k come next month.Bitcoins can improve your financial situation literally over night.

If Soros became interested in crypto currencies, then it's worth to expect the price growth of bitcoin and other altcoins

There is always speculation about bitcoin,and other cryptos, price. Bitcoin rises and falls on a daily basis. Remember that if bitcoin rises it will cost more to buy.

Even though I usually say that no one knows which way the market is going to go, I do think that there is a psychological barrier at 9000-9100. So if we were to break through this, I do think we may go through some sort of bull run. But then again, my guess is as good as nothing in the world of crypto.

We could go fucking up, down, sideways, to zero, or to a million. No one knows.

To be honest I didn't expect for any reverse to happen any time soon. Maybe the downtrend is over, but I don't expect exuberance buying, because even though LN seems to have finally achieved a beta status, and it looks strong on the main net, we will probably need to wait some time before some services for the end consumer start showing up.

Hopefully we will have some small and controlled growth. More like as side-way trend, but with a little growth along with it. For me nothing has really changed, and my plan is the same. To accumulate as more bitcoin as I can, always knowing that we still have a long way ahead, and that it's still a risky investment, but worth taking, because it has potential.

If BTC/USD breaks through $9.1k, I see $11k on the horizon. $9.1k was a strong resistance level in March.

Very helpful post, I hope it will guide a lot of us, and it will help us to grow and to be benefited about crypto currency.

In April, the news background around bitcoin began to change. If in the first quarter of 2018 news and moods coincided, remaining negative, in April it may change, affecting the prices of cryptocurrency. Traders and owners of cryptocurrency will soon be able to see "good signs" for digital currencies — in particular, the interest of institutional investors. This was stated by the Director of Abra, and it seems he was not unfounded.

Growth of the cryptocurrency market over the weekend

On Friday, they began to talk about the fact that George Soros and his Fund, which manages assets worth $26 billion, are involved in cryptocurrency trade. As reported by Bloomberg, Adam Fisher, who is responsible for global macroeconomic investments in Soros Fund Management, has already received internal approval for operations in the crypto currency, but has not yet started trading.

In fact, the perception of the news is somewhat inflated as Soros Fund Management and George Soros himself made no loud statements. Specific plans for the future were also not announced. However, after Soros spoke critically about the "bitcoin bubble" last year, and now his name stands next to the word "crypto-trading", it did not take direct quotes and accurate plans to change moods.

Also, in the context of cryptocurrencies, another very significant surname appeared. The Rockefeller family and Their venrock venture Fund announced their collaboration with Coinfund crypto-investment group to "support cryptocurrencies and business innovations using blockchain technology".

The change of mood can lead to an increase in prices for cryptocurrencies, but there are no serious enough prerequisites for a long growth and trend reversal. Most likely, the cost of bitcoin will move in a sideways trend until it receives a serious impulse to rise in price or fall below, without finding the right demand at the currently designated support levels ($6,900 and $6,600).