Bitcoin recovering to $10,000 could bring a new buyers..

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legendary

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Quote from: mycomike12345 on February 16, 2018, 02:40:13 AM

Bitcoin climbed back above $10,000 Thursday for the first time in two weeks and some analysts see the psychologically key level as a trigger for new buyers to come into the market.

Analysts' opinions should not be taken very seriously, they are incredible but even they are not 100% sure that the price has increased or reached X value. so they make predictions and do not say, "I'm absolutely sure that bitcoin will reach $20,000 by the end of the year" by that I mean that people should not be convinced that bitcoin is predestined to reach the $20,000, yes people can buy bitcoin, but they should be aware of the risks, they should not buy at the price of $10,000 because someone said that in month X the price will be $20,000

BagzMM

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Quote from: mycomike12345 on February 16, 2018, 02:40:13 AM

Bitcoin climbed back above $10,000 Thursday for the first time in two weeks and some analysts see the psychologically key level as a trigger for new buyers to come into the market.

Yes, I seen that most of the investors are now in HODL mode on there bitcoin and will surely ride into this bull run. New buyers will surely gain confidence that this is now the right time to invest more money into bitcoin as it getting strength in market. If the price will continues on that trend, it might reach $15k at the end of this month. Congrats to those who take a risk and bought their bitcoin while it was at $6k a sure profits in just a week.

iv4n

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Quote from: naidray on February 17, 2018, 07:48:39 AM

Quote from: aso118 on February 16, 2018, 04:10:11 AM

Quote from: mycomike12345 on February 16, 2018, 02:40:13 AM

Bitcoin climbed back above $10,000 Thursday for the first time in two weeks and some analysts see the psychologically key level as a trigger for new buyers to come into the market.

What you say might very well be true, but I think $10,000 might be a psychological level for people to sell and book profits as well. This might more than make up for the new buyers coming in. Traditionally, new buyers come in when the price falls below a certain level, not on the way up.

Not all new buyers do that, most times, new buyers normally wait for the market should show a complete reversal of trend before they even get in and that is the level of certainty. Except for some buyers who may be active with the market and looking forward to see what happens next and also ready to get out if the market is no longer looking good, which will really be bad anyway, safe entry is always the best for most institutions. Psychologically though, most buyers would have been doing marginal buying even from $8000 - $6000 and back up.

I am very optimistic about the market and I really hope that the market can show a strong move from where we are now. For now, we may try to see where everything leads us, and hopefully with what the OP have mentioned, we get to start seeing huge volume in the market so we can go test the main line we are all wishing and have been waiting for now in more than weeks to break. A huge break from there should bring bitcoin back strong.

Many buyer's don't do that, many don't sell now to book couple thousands dollars profit because they know that higher price is coming, booking profit in dollars or some other currency is waste of money, you selling something that will have much higher value in future for piece of paper that will just lose value, like many old things fiat money is ready for pension. How things move fast we can expect that to happen very soon. Now it's the question of time, because in more then 2 years in bitcoin world I see how big progress this is. And its not stopping here, many say this is just a beginning and I believe them, they have strong arguments.

naidray

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Quote from: aso118 on February 16, 2018, 04:10:11 AM

Quote from: mycomike12345 on February 16, 2018, 02:40:13 AM

Bitcoin climbed back above $10,000 Thursday for the first time in two weeks and some analysts see the psychologically key level as a trigger for new buyers to come into the market.

What you say might very well be true, but I think $10,000 might be a psychological level for people to sell and book profits as well. This might more than make up for the new buyers coming in. Traditionally, new buyers come in when the price falls below a certain level, not on the way up.

Not all new buyers do that, most times, new buyers normally wait for the market should show a complete reversal of trend before they even get in and that is the level of certainty. Except for some buyers who may be active with the market and looking forward to see what happens next and also ready to get out if the market is no longer looking good, which will really be bad anyway, safe entry is always the best for most institutions. Psychologically though, most buyers would have been doing marginal buying even from $8000 - $6000 and back up.

I am very optimistic about the market and I really hope that the market can show a strong move from where we are now. For now, we may try to see where everything leads us, and hopefully with what the OP have mentioned, we get to start seeing huge volume in the market so we can go test the main line we are all wishing and have been waiting for now in more than weeks to break. A huge break from there should bring bitcoin back strong.

xuan87

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This is great, after all the pessimistic people selling the coin finally Bitcoin show the strength, it is a hard month for Bitcoin where it's keep on being slammed, reaching 10k should be a turning point for Bitcoin, when investors see Bitcoin healing, they will invest the money in Bitcoin again, hopefully there won't be any bad news from government and no more fud

javadsalehi

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There is no doubt that some new people are entering the market. That's why the bitcoin price is rising.
I think the price fall after it reaches 20K was due to lack of newcomers. But now there are many new buyers.

carlisle1

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Quote from: mycomike12345 on February 16, 2018, 02:40:13 AM

Bitcoin climbed back above $10,000 Thursday for the first time in two weeks and some analysts see the psychologically key level as a trigger for new buyers to come into the market.

in this case the investors are attracted because they thinking of profit since this is really what they need,those who look for fast earning without anticipating the possibility of dropping again and with an instant.hope they become a victim of big losses by investing only why the price are growing.

timerland

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Quote from: huzurkan on February 16, 2018, 06:08:32 PM

We all knew that $ 6,000 to $ 10,000. I did not sell because of it. the next target for me is 14400 american dollars. we will go to the moon after we have passed 14400.

Where did you get $14.4k from?

I wouldn't say that price of BTC will "moon", though. The chances of another all time high for this year is probably a lot less than last year's, in which it was breaking records basically every single month of the year.

Price is above 5 figures right now, and if we don't see the pump soon, there may be a correction down below $10k. I'm not saying that it's not a good time to buy, but as I said, there may be a short term correction coming.

el kaka22

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Quote from: ChickenDuck on February 16, 2018, 02:43:41 AM

this is the good signal for new buyers that btc has been stable again. They will enter buy state and make btc price go up in coming weeks.

It is a really good signal. The market is gradually turning long, and although some still have the feelings that the market may be having some pull back when it gets to around $12k. I know that is the main target of the downtrend line and that would really determine where we are going next to confirm if the market really wants to go bullish or not.

For now, we keep our arms crossed as There is still a lot of resistance in this region, but really I agree with you that this should be some strong signal that the market wants to move up and we just have some few hours to know the direction where the market really wants to go.

It will really be a good thing to start seeing some money entering the market and that is really needed right now. Getting past this is most definitely turning up to $12k region.

huzurkan

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We all knew that $ 6,000 to $ 10,000. I did not sell because of it. the next target for me is 14400 american dollars. we will go to the moon after we have passed 14400.

YinShuiSiYuan

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Quote from: mycomike12345 on February 16, 2018, 02:40:13 AM

Bitcoin climbed back above $10,000 Thursday for the first time in two weeks and some analysts see the psychologically key level as a trigger for new buyers to come into the market.

Perhaps this price will attract new buyers. I think, however, that they will be much more cautious in buying than before the December correction.

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Quote from: mycomike12345 on February 16, 2018, 02:40:13 AM

Bitcoin climbed back above $10,000 Thursday for the first time in two weeks and some analysts see the psychologically key level as a trigger for new buyers to come into the market.

It is surely something that will capture the interests of more people towards investing to Bitcoin. Since it is now recovering, a mindset that the profit will go along with the increase is expected. The profit is promising on investing to Bitcoin. Low market value at this moment plus the increase that it is now having is really something to look forward in the future. The demand is also increasing as more people are having their interests to Bitcoin and it will positively affect its market price as well.

Rozita

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Yes. There are always some wise newcomers that are waiting for a right time to invest in bitcoin. Corrections always provide a good opportunity for these people. Now they can buy bitcoin at half the all time high.

gentlemand

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The real new buying will come when BTC tops $20,000. You know it. I know it.

This is how the average person thinks. In their unusual minds a price peak means it's time to get serious and pour in. All prices below that were not serious at all.

raven7886

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We just need a strong buying momentum and volume right now to be able to get the bulls back in shape. Looking at the charts, every smart buyer are still waiting and watching and not even ready to gamble the market yet. Better to wait and buy at a good spot than gambling your position. I am trying to be optimistic that this is the end of the downtrend and we may not go lower, but we all know that we have seen worse already, so anything is possible.

At some points between the 0.382 and 0.618 Fib level, we may end up consolidating, before having some huge run, but for now, let's just hope that the downtrend is over and we have been able to find a bottom. Market is still looking good and we can probably start testing resistances from here. Anything that would bring bitcoin down lower though, won't really be good.

dothebeats

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Quote from: imapessimist on February 16, 2018, 12:09:43 PM

I don't think it will bring many new buyers. New buyers are probably looking for a big profit and there isn't the confidence the price will shoot up.

With the recent crash to sub-$7000, getting back up to $10000 may pose some kind of positive psychological effect to those people who are watching the markets closely. As what an analyst have said, the bullish sentiment felt 'reinvigorated' with the recent climb to $10000. Also, JPMorgan's CEO Jamie Dimon finally accepts BTC in public and have stated that they will launch a bitcoin ETF (which I don't have high hopes for but still a positive thing though) that could potentially be an inviting reason to invest in bitcoin. Many positive events happened lately in the midst of uncertainties with bans and regulations but it seems that positivity prevails in the market as of late. I don't give my hopes up but this is something to watch closely, I reckon.

imapessimist

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I don't think it will bring many new buyers. New buyers are probably looking for a big profit and there isn't the confidence the price will shoot up.

fulmetal08larz

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What we have witnessed during the BTC price push to $10k from $6k is the accumulation stage of institutional buyers and big time long term investors. They bought at a lower price level from those panic sellers and newcomers. Now, the bulls are starting an uptrend again which could cause another hype and all time high bringing in new buyers who just heard bitcoin can be profitable. Hopefully, the panic sellers learned their lesson well.

alyssa85

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Quote from: mycomike12345 on February 16, 2018, 02:40:13 AM

Bitcoin climbed back above $10,000 Thursday for the first time in two weeks and some analysts see the psychologically key level as a trigger for new buyers to come into the market.

It won't bring new buyers.

The new buyers in the second part of last year only came because they saw that bitcoin had risen from $1000 at teh start of the year in what seemed like a one-way bet to riches.

Now they know it's not a one-way bet, the price falls back. We would need sustained rises to tempt the new buyers back.

BTCLovingDude

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BTC to the moon is inevitable...

Quote from: mycomike12345 on February 16, 2018, 07:08:04 AM

In the week around Thanksgiving, Coinbase added about 300,000 users, helping send bitcoin from around $8,000 to $10,000.

interesting but irrelevant point!
and also you are saying it in a way as if Coinbase added those users out of thin air! there were actual people who started investing in bitcoin because of a lot of reasons including the phenomenal performance of bitcoin, the potential that it has and also the fact that CME then others such as NASDAQ started adding bitcoin related markets.

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