Well, from the price of $4600, we can say it's recovering, however, comparing the starting price against the current price, there is not recovery yet.
At January 1 this year, the starting price was at $7100, while the current price now is $5800, still below the starting price, therefore bitcoin needs to at least rise to $7500 so we can say it's really recovering.
Today bitcoin is down 5%, that' significant, hopefully it will stop and bounce back.
https://coinmarketcap.com/currencies/bitcoin/
Topic: Bitcoin recovering - page 5. (Read 842 times)
The market continuously drops from $9k to $4k plus, then it bounces back $6k up to this time. I think that the market is recovering, yet it was just very slow because many people are still selling it at low by now. The resistance and market support isn't that strong to push the market instantly to the high. I believe we can see a fully recovered market if this pandemic effect of COVID-19 will be over but think how long. And probably we have to wait for months or even a year.
Bitcoin is not recovering enough, it's still showing the volatile nature every day! Though from 3900 to 6700$ was a good comeback, but the price chart says bitcoin yet to touch the support level to be bullish! I think Bitcoin needs to go under 3500$ before the halving, so, we can see a real bull run after 6 months of halving, otherwise, I am not sure bitcoin can overcome its previous bull run!
Saying the price recovers because of the price swing is early to tell.
Let's not make a good expectation for this slow price increase. At least we see the possible bottom.
We can't say what will happen next as the world is still dealing with the pandemic virus. Bitcoin shouldn't totally be affected in terms of crypto market-related activity but since the world economy heavily got affected too and people really need some money to support their daily living, bitcoin was being part of its domino effect.
Let's not make a good expectation for this slow price increase. At least we see the possible bottom.
We can't say what will happen next as the world is still dealing with the pandemic virus. Bitcoin shouldn't totally be affected in terms of crypto market-related activity but since the world economy heavily got affected too and people really need some money to support their daily living, bitcoin was being part of its domino effect.
Of course it will depend on people to keep the ecosystem running. But as far as recovering, we really can't say what's going to happen next month as this will be critical for the markets around the globe. Do we have the initial vaccine that time? I'm sure everyone will react positively if World Health Organisations will report that a vaccine has discovered, otherwise we might see the price going to $3k-$4k prior to halving.
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Still the Bitcoin market is not touch the low becasue as we see the market this time it is so much difficult to understand it and may be in future market is touch the low at 3k or 2700$ this time becasue still all the world in crisis and thats why the market are crash and going down regularly.
It has touched the low for 2020. It's actually the lowest since Spring of 2019. Isn't that a low? To me it is. There's no rule that it has to retest the 3k low. If that's the low you're looking for then why not choose a bigger timeframe and wait for a 1000 dollar low or maybe the low from 2016 where we were at 300 dollars?
If we stay above 4000 dollars it will be a higher low from where we were a year ago which is great. If we go below 3000 and stay there it's going to be very bad for mining and the whole industry especially if it happens after the halving. I think that we'll go up from here.
On the unexpected outbreak we recently experience it has a huge impact to the world stock market and especially to the bitcoin the market price of the bitcoin from the highest peak of 8k dollars in just a week it drops for over 3.9k dollars and that was so huge for the changes, but now some of the analysis this it just depends on the people if they keep supporting the use of bitcoin to make it back to normal also when the halving is coming most of the time the price of the coin goes down to it's the lowest point and recovering for a while and made a lot of profit come back still the problem is today it is continuously declined the use and increase of the price and the bearish market will still last long if we do not make any changes too.
Source : https://www.coindesk.com/the-puell-multiple-is-turning-bullish-on-bitcoin%3famp=1
Source : https://www.coindesk.com/the-puell-multiple-is-turning-bullish-on-bitcoin%3famp=1
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