Topic: Bitcoin Stable At $11K – Altcoins In Green: The Calm Before The Strorm? - page 4. (Read 543 times)
August 02, 2020, 02:05:48 PM
Yeah. Looking more like the good days are here again. From CMC, it rallied further the next day, to almost $12k. https://coinmarketcap.com/currencies/bitcoin/historical-data/
August 02, 2020, 09:48:36 AM
It is neither calm nor there is storm to be brewing that anybody wouldn't expect. I mean we are talking about bitcoin, sure going from $9k to $11k is not end of the world or doesn't make anyone super rich, but it is still a good amount of increase that made it hyped up again, plus it didn't stopped I have seen $12k in some places as well. Hence, I think there is no "calm" right now, it is quite exciting and quite thrilling what is going on in the crypto market. Is it before the storm?
Well, I can't know that but a storm should be something above ATH, without that I feel like we are not really making any much difference and the price is totally believable, maybe drizzles a bit of rain but not a storm if it reaches anywhere around $13-$18k levels since that is totally doable.
Well, I can't know that but a storm should be something above ATH, without that I feel like we are not really making any much difference and the price is totally believable, maybe drizzles a bit of rain but not a storm if it reaches anywhere around $13-$18k levels since that is totally doable.
August 02, 2020, 02:12:06 AM
If not for the pandemic, maybe we are in the $14k range.
No matter if we are in the pandemic or not, bitcoin price will touch that price. Many people still believe that the price will be there, and it is good progress to see the price can break one by one of the higher rates. After the price touch $12k, bitcoin now got a dump to $11k, and it seems the price will stay at that price for a moment before the price starts another rally. Bitcoin price itself is still searching for a good time to lift the price and back to $12k. We will soon see the price will start the rally, and who knows, the price can be able to break, not just $14k, but the price will be able to break $15k.
August 02, 2020, 12:19:58 AM
obviously the main factor has been the sharp decline in the dollar vs gold and on fx markets
but this has pushed bitcoin comfortably over the psychological 10k which opens up much higher prices
but this has pushed bitcoin comfortably over the psychological 10k which opens up much higher prices
The primary reasons risk assets (stocks, gold, silver, BTC, altcoins) are rallying:
- Fed QE
- Fiscal stimulus
- Investors pricing in Fed policy
- Investors pricing in inflation possibilities
They fell together in March, now they are recovering together. The USD falling against other currencies probably has some secondary correlative relationship but I don't think it's the primary cause.
im all-in OMG token its the best deal in crypto rn
Daily and weekly OMGBTC charts are ugly. Altcoins will probably bleed against BTC until this short term BTCUSD rally ends.
I agree.Many people don't realize that Bitcoin actually didn't increased it's value that much.The US dollar value just went down,so people need more US dollars to buy the same amount of BTC.
The active money printing by FED and the investors seeking a safe heaven asset that's different than gold are additional reasons why one Bitcoin costs more US dollars now.
The big altcoins like Ethereum and Ripple will most likely follow Bitcoin's bullish pattern,while the small altcoins will definitely "bleed" and decrease their prices.
August 01, 2020, 09:56:23 PM
I am very happy though that the shorts got squeezed out real good with this quick 2k rise. With them shorts out of the way, the rise will be much quicker to follow.
August 01, 2020, 09:04:15 PM
Right now ethereum has reached a growth percentage of 15% and there is no big growth taking place with bitcoins. Maybe there'll be gradual growth with ethereum reaching close to $800. If such a growth happens automatically leading altcoins and the ERC20 based projects will have a price pumping. Anyhow it's a bad day missing opportunities to invest on ethereum last week.
August 01, 2020, 07:47:49 PM
current price: $11700
what really worries me a lot Is if the reason for this increase is linked to the reason why ETH is having a big pump because in this cryptocurrency market there is a great exaggeration in optimism and illusions. I want to see what price we will see from August 5th
really the pump would have been much bigger from January to July
what really worries me a lot Is if the reason for this increase is linked to the reason why ETH is having a big pump because in this cryptocurrency market there is a great exaggeration in optimism and illusions. I want to see what price we will see from August 5th
If not for the pandemic, maybe we are in the $14k range.
really the pump would have been much bigger from January to July
August 01, 2020, 06:51:23 PM
Its a Wave 5 of a bigger Wave 1 base on the analyst that I've always followed on Youtube.
This is the time where the FOMO crowd is coming saying "It will go higher, it will not make a pullback anymore etc.". We are at the $11,800 when I'm writing this post and the next resistances that I'm seeing are the $12,000 and the $13,000 part. Just be aware with this move because I'm expecting for a bit of a retracement around this month or next month.
This is the time where the FOMO crowd is coming saying "It will go higher, it will not make a pullback anymore etc.". We are at the $11,800 when I'm writing this post and the next resistances that I'm seeing are the $12,000 and the $13,000 part. Just be aware with this move because I'm expecting for a bit of a retracement around this month or next month.
August 01, 2020, 08:20:31 AM
In my view, bitcoin should stay in this level for some time, between 11k and 13k, for stabilization, then resume the way up.
If not for the pandemic, maybe we are in the $14k range.We have broken $11.3k-$11.4k resistance, as the price zoom in at $11.6. But we are in the critical level as we are going to face another big psychological barrier which is $12k. If the current price is not sustainable, we might see some pullbacks again. But I don't think that we are going below five digits again. So we will have to see, it's already weekends anyways, some traders might take a rest because it's been a hectic week.
August 01, 2020, 07:43:25 AM
The market seems to test new high for this year as it has crossed 11650$ now. Initially it was struggling a bit to cross 11k levels as well as was testing and falling back again but now it has moved from those levels and seems it can reach 12k in coming time. Gradually rising is much better than those steps rise and then falling much later.
The gradual rise gives hope to the investors to see a good insight in future and $12k is reachable in future since if we look on the situation today the people mindset are in good state they are looking for bitcoins to fly high more and this is a good sign that people are in positive long term outlook on the current happening. Maybe in this month we can see the number rise and $12,000 will come or even it could surpass to the speculated figures.
August 01, 2020, 07:08:33 AM
obviously the main factor has been the sharp decline in the dollar vs gold and on fx markets
but this has pushed bitcoin comfortably over the psychological 10k which opens up much higher prices
but this has pushed bitcoin comfortably over the psychological 10k which opens up much higher prices
The primary reasons risk assets (stocks, gold, silver, BTC, altcoins) are rallying:
- Fed QE
- Fiscal stimulus
- Investors pricing in Fed policy
- Investors pricing in inflation possibilities
They fell together in March, now they are recovering together. The USD falling against other currencies probably has some secondary correlative relationship but I don't think it's the primary cause.
im all-in OMG token its the best deal in crypto rn
Daily and weekly OMGBTC charts are ugly. Altcoins will probably bleed against BTC until this short term BTCUSD rally ends.
August 01, 2020, 04:21:38 AM
obviously the main factor has been the sharp decline in the dollar vs gold and on fx markets
but this has pushed bitcoin comfortably over the psychological 10k which opens up much higher prices
im all-in OMG token its the best deal in crypto rn
but this has pushed bitcoin comfortably over the psychological 10k which opens up much higher prices
im all-in OMG token its the best deal in crypto rn
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August 01, 2020, 04:05:27 AM
Can someone explain what news cause this one week price growth? It cant be that if grew by itself.
People say “if we pass this resistance level will go there or there” - what is resistance level we need to pass to continue to grow, or fail and will go down?
The price of the bitcoin have parabolic move in these past days were it is currently surpass the current resistance at $11400, the current price of the bitcoin is now at $11677 and the next major resistance is at the $12300. As long as thr price will hold at $11000, expect that the price of the bitcoin will become more expensive. Even though there is still momentum, we should still be careful especially if the trend snaps. People say “if we pass this resistance level will go there or there” - what is resistance level we need to pass to continue to grow, or fail and will go down?
I don't see any parabolic in price of BTC, Maybe you are using short time frame on your graph but in general using 1D timeframe, BTC price spike is very sharp and very alarming, It needs to correct a bit or else this will result to major price fall once Bulls exhausted. The only good thing for crypto are many countries are showing positive position in legalising cryptocurrency which might result to the real mass adoption.
August 01, 2020, 04:00:34 AM
the times like this are usually good for shitcoins. the times that bitcoin price has a big rise in a short time (a couple of days in this case) that causes the shitcoins to dump but then bitcoin stabilizes and that means shitcoins can pump specially since they had that dump.
Yeah. Usually the altcoin's kingdom will get to notice the pump for their altcoins instead of noticing the great performance of bitcoin during this time. I don't understand them why they are looking far if the best is in front of them.
Meanwhile, bitcoin just got to $11,600.
August 01, 2020, 03:52:58 AM
2020 started off very strong, and then the COVID-19 thing happened. To me it just looks like bitcoin is resuming its trajectory, and altcoins are going along for the ride.
Good observation man, I also thought the same when I've read your comment. The start of 2020 is really strong for the bullish speculators as well as for the Bitcoin believers. That's all because of the most anticipated Bitcoin block halving. It had a good upward momentum since a lot of people are accumulating to ride with the halving hype until it was interrupted by the pandemic. Now, I guess most investors are now returning to the market after being broken financial during the critical stage of the pandemic.
Anyway, Btc is trading at around $11,600 by the moment Im typing this, and it's heading it's way to a new resistance level after breaching the $11,400. It seems that Btc is going strong these past couple of days.
August 01, 2020, 01:54:09 AM
Can someone explain what news cause this one week price growth? It cant be that if grew by itself.
People say “if we pass this resistance level will go there or there” - what is resistance level we need to pass to continue to grow, or fail and will go down?
The price of the bitcoin have parabolic move in these past days were it is currently surpass the current resistance at $11400, the current price of the bitcoin is now at $11677 and the next major resistance is at the $12300. As long as thr price will hold at $11000, expect that the price of the bitcoin will become more expensive. Even though there is still momentum, we should still be careful especially if the trend snaps. People say “if we pass this resistance level will go there or there” - what is resistance level we need to pass to continue to grow, or fail and will go down?
July 31, 2020, 01:05:42 PM
Whenever Bitcoin is in a short-term bullish trend it substantially benefits altcoins, as they depend directly or indirectly on Bitcoin. For now, the outlook is excellent for the purchase and wait for it to continue rising, however there is no need to rush, it may continue at this rate or apply a slight stabilization.
Caution should be exercised, although investing in Bitcoin is always going to be a long-term gain. Altcoins are typically much easier to fall off on any Bitcoin movement change.
Caution should be exercised, although investing in Bitcoin is always going to be a long-term gain. Altcoins are typically much easier to fall off on any Bitcoin movement change.
July 31, 2020, 12:19:19 PM
Can someone explain what news cause this one week price growth? It cant be that if grew by itself.
People say “if we pass this resistance level will go there or there” - what is resistance level we need to pass to continue to grow, or fail and will go down?
People say “if we pass this resistance level will go there or there” - what is resistance level we need to pass to continue to grow, or fail and will go down?
July 31, 2020, 12:09:44 PM
In my view, bitcoin should stay in this level for some time, between 11k and 13k, for stabilization, then resume the way up.
This requires generally a long consolidation period, couple of weeks or even months, but definitely possible!I am always sceptical about fast rising and expect a dump just after it. Didn't expect we pass $11k and even to stay there for that long! We will see!
If it stays three months in this range, the recovery will be consolidated, and the bull market can start. Then it will be 50k next year, unless we have C20.
July 31, 2020, 11:58:59 AM
It's way too early to tell what's really happening in the crypto markets. Bitcoin does have a tendency to rise abruptly and then stall out for a while before breaking to the up- or downside. My personal feeling is that bitcoin is going to be at a higher price at the end of the year than it is now. 2020 started off very strong, and then the COVID-19 thing happened. To me it just looks like bitcoin is resuming its trajectory, and altcoins are going along for the ride.
The altcoin market might be collectively in the green, but I'd be careful about what you're buying if that's your thing. I'd stick to the higher-quality coins like ETH and the like and avoid some of the really bad ones (which make up the majority).
The altcoin market might be collectively in the green, but I'd be careful about what you're buying if that's your thing. I'd stick to the higher-quality coins like ETH and the like and avoid some of the really bad ones (which make up the majority).
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