Topic: Bitcoin Stable At $11K – Altcoins In Green: The Calm Before The Strorm? (Read 543 times)

Quote from: Natalim on August 21, 2020, 01:35:20 AM

Some were saying it rose all the way up to $11.450 but not any further than that. Sad

It rose $12,000 already, but it dump again, and now we can clearly say that it's stable at $11,000 as currently bitcoin is trading at $11800.

That 12 thousand jump basically showed the hands of the traders. It showed that there are people who are willing to buy and make the price go over 12k, however there are people who do not want it to go above 12k or maybe just want it but the price reached to a point where they want to sell it and make a profit.

So, that basically shows what the situation is at around these prices, anything under 11.5k and buyers are stronger, anything above 12k the sellers are stronger, eventually this will change and there will be a lot of people who will basically overcome the other side and we are going to see some sort of situation where price will eventually either go down under 11.5k or go over 12k to make the price a lot different, but that will just take some time.

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Some were saying it rose all the way up to $11.450 but not any further than that. Sad

It rose $12,000 already, but it dump again, and now we can clearly say that it's stable at $11,000 as currently bitcoin is trading at $11800.

It does look stable at $11,000 and won't dip below this until the next pump up comes with maybe a tweet from a celebrity or another fork happening. Grin

I don't think that would still create some hype in the market, people are smarter now, they want real progress than a simple hype.

Right, a simple tweet won't sway smart investors, maybe some noobs, but for those who knows how to read the market, they are not going to bite on that tweet. On the contrary, it could hurt the market in the long run because we don't want to see bitcoin going on an artificial pump.

The rally is not over yet, but I'm seeing another week for the price to remain in the $11,000 zone before we see another break out.

STT

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Just recovering the 2 day average now after being weak before the weekend. Overall its just drifting, we probably have to just consider monthly, 50 day and beyond to take action more seriously then repeating a previous range. It needs to be beyond 11800 here for some time, probably over a day to be threatening anything new to happen. Failing to achieve this much is something to watch, a lower high could mean we lead into further action downwards its not clearly negative so far.

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Some were saying it rose all the way up to $11.450 but not any further than that. Sad

It rose $12,000 already, but it dump again, and now we can clearly say that it's stable at $11,000 as currently bitcoin is trading at $11800.

Quote from: Silberman on August 20, 2020, 11:57:37 AM

It does look stable at $11,000 and won't dip below this until the next pump up comes with maybe a tweet from a celebrity or another fork happening. Grin

I don't think that would still create some hype in the market, people are smarter now, they want real progress than a simple hype.

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Quote from: rodskee on August 13, 2020, 09:48:29 PM

Quote from: reliable on August 12, 2020, 05:03:13 AM

Quote from: Silberman on August 11, 2020, 01:39:39 PM

Bulls have tried to make the price to go above 12,000 during the last week and they have failed on their attempts and this can become problematic because as we know bitcoin has a tendency to move down really rapidly and if whales decide that they have obtained enough money out of this movement they can easily crash the price in a matter of hours, however it is my opinion that there is still some strength left in the current movement and that we are bound to eventually break that barrier.

There is a good buying happening again and market which had fallen till 11150$ has started to rebounce and now at 11550$. It was just a temporary phase where some whale might have sold it. SO those who had bought at lower levels would sell again at high to make some profit bookings. Should see again somewhere near 12k price range in coming days.

It's now moving to $11,771. That dip dive makes those weak holders to lose their money,
nature of bitcoin being volatile.
It's a must to understand that if you are not willing to take the risk, the chance of losing
your money is very high.
Good thing here, the barrier is still at $11k, and again it's forming a good support. Maybe it's
another attempt to rise up and break $12k.

The 12,000 resistance level is proving to be very difficult to break, during the days before we saw the price above that but then the bears were able to make the price to make a pullback and now were making another attempt at trying to break that price for good, it is going to be very interesting to see how the price of bitcoin moves during the next days, if the resistance level that we are seeing keeps holding up then we may need a few weeks for the bulls to accumulate enough strength to break that level.

Do we still remember on what our words when the price is still hovering below 5 digit price? We do keep saying that it is really hard to break 10k barrier and we have stagnant for too long.

It wasnt really an easy run yet there would be always a sell-off point.We cant just expect that the price will shoot up on continuous basis and there would be walls along the way.

For now lets just utilize these pullbacks for us to re-enter or buy cheaper and make profits when it do increase its price.

Silberman

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Quote from: rodskee on August 13, 2020, 09:48:29 PM

Quote from: reliable on August 12, 2020, 05:03:13 AM

Quote from: Silberman on August 11, 2020, 01:39:39 PM

Bulls have tried to make the price to go above 12,000 during the last week and they have failed on their attempts and this can become problematic because as we know bitcoin has a tendency to move down really rapidly and if whales decide that they have obtained enough money out of this movement they can easily crash the price in a matter of hours, however it is my opinion that there is still some strength left in the current movement and that we are bound to eventually break that barrier.

There is a good buying happening again and market which had fallen till 11150$ has started to rebounce and now at 11550$. It was just a temporary phase where some whale might have sold it. SO those who had bought at lower levels would sell again at high to make some profit bookings. Should see again somewhere near 12k price range in coming days.

It's now moving to $11,771. That dip dive makes those weak holders to lose their money,
nature of bitcoin being volatile.
It's a must to understand that if you are not willing to take the risk, the chance of losing
your money is very high.
Good thing here, the barrier is still at $11k, and again it's forming a good support. Maybe it's
another attempt to rise up and break $12k.

The 12,000 resistance level is proving to be very difficult to break, during the days before we saw the price above that but then the bears were able to make the price to make a pullback and now were making another attempt at trying to break that price for good, it is going to be very interesting to see how the price of bitcoin moves during the next days, if the resistance level that we are seeing keeps holding up then we may need a few weeks for the bulls to accumulate enough strength to break that level.

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Quote from: romero121 on August 18, 2020, 11:11:29 AM

The market isn't able to keep up the resistance above $12000. The price right now has fallen low to $12000, and upon this I believe bitcoin to have high stability above $11000. Maybe through this week we can see the price of bitcoin to fluctuate between $11800 - $12500. Altcoins in the top order hasn't pumped high. Every year end there'll good increase in the price of bitcoin. Upon the same there is high chance of reaching $15000 or above.

We do not need to worry on seeing prices unable to hold above $12,000 levels. It must be just another usual correction which do happen following immediately after every sharp spike. So, in my opinion market is not stable at the same time market is still stronger toward $15k which may happen by end of this month as well. Altcoins are this time following bitcoin markets.

I do see only very few altcoins got ability to trade against bitcoin's corrections. Totally this correction will lead to another rally which may get us into a new ATH since May 2019.

The market make a big move yesterday that leads the price of the bitcoin to surpass and break its resistance at $12k, the good thing is the price is now holding above that level with huge volume telling there will be a monstrous move that may happen again. I actually regretted my yesterday's decision because I take profit because I thought that the price will bounce in the resistance. That's okay with me because it is a new knowledge and experience that I can use in order for me to maximize my gains and lessen the losses.

We should expect that there will be a correction that may happen because there is no such a cryptocurrencies that go up like a elevator without retest or the correction. For the bounce players, try to get positions when the price managed to reach the support level.

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The market isn't able to keep up the resistance above $12000. The price right now has fallen low to $12000, and upon this I believe bitcoin to have high stability above $11000. Maybe through this week we can see the price of bitcoin to fluctuate between $11800 - $12500. Altcoins in the top order hasn't pumped high. Every year end there'll good increase in the price of bitcoin. Upon the same there is high chance of reaching $15000 or above.

milewilda

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Quote from: btc_angela on August 17, 2020, 06:44:07 PM

Quote from: beerlover on August 16, 2020, 02:25:05 PM

The price is definitely at around close to $12k right now and that is actually quite good as well because that small drop to around $11.4k levels scared some people off but seeing that the world of crypto is still standing strong and still pushing $12k like it is the great resistance point it is, I feel like it is definitely going to change a lot of things.

Above $12k, it will be interesting if we can maintain in this level.

Quote from: beerlover on August 16, 2020, 02:25:05 PM

Finally correction happened and people are still bullish about it, I feel like it will definitely do something bigger in the near future, hopefully that would be soon but if it is not soon it will be in 2020 for sure, could be late November or early December before we reach above $15k and even $20k levels finally. That is all my prediction via the fact that people didn't allow bitcoin to fall with the correction.

Right, with all the bullish news we have, we can see the price swinging around $15k++ at the end of the year. This is definitely a good year for bitcoin, despite the pandemic around, we have that halving that really push the price in my opinion.

Is halving the main reason why we pushed this far in terms of price? We had just break 10k 11k and 12k barrier but this recent resistance is still questionable if it would able to sustain or would really be just
correct itself and playing in 11k levels.Its really good to see that price had able to hold even it isnt still passed 24 hours but it seems it will surely be tanking on above 12k. Next stop? 13k will be the target but
it would really be just too fast if we do break that level in a matter of days. if it does then we would probably seeing 20k usd ath for this year and that would really be a great year for Bitcoin.
We had been moving sideways or somewhat static market for couple of years and this time around is a different one.

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Quote from: beerlover on August 16, 2020, 02:25:05 PM

The price is definitely at around close to $12k right now and that is actually quite good as well because that small drop to around $11.4k levels scared some people off but seeing that the world of crypto is still standing strong and still pushing $12k like it is the great resistance point it is, I feel like it is definitely going to change a lot of things.

Above $12k, it will be interesting if we can maintain in this level.

Quote from: beerlover on August 16, 2020, 02:25:05 PM

Finally correction happened and people are still bullish about it, I feel like it will definitely do something bigger in the near future, hopefully that would be soon but if it is not soon it will be in 2020 for sure, could be late November or early December before we reach above $15k and even $20k levels finally. That is all my prediction via the fact that people didn't allow bitcoin to fall with the correction.

Right, with all the bullish news we have, we can see the price swinging around $15k++ at the end of the year. This is definitely a good year for bitcoin, despite the pandemic around, we have that halving that really push the price in my opinion.

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There is really no storm, there is nothing going on, there is just calm and calm and calm without anything in between. I was expecting the same thing as you, I was expecting a calm before the storm and there would be something bigger in the end, like a price fall to $8k or an increase to $15k or something, that would have made sense as well, nobody could say that it would have been unthinkable, it would have been proper and understandable, however that didn't happen.

Now I changed my decision and now I am expecting bitcoin to actually not do anything, I am expecting it to actually stay still and not move too much, that way we would all know that little day traders or leverage traders will make their profits but long term investors would have to be patient once again for any move towards higher levels.

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Quote from: beerlover on August 16, 2020, 02:25:05 PM

The price is definitely at around close to $12k right now and that is actually quite good as well because that small drop to around $11.4k levels scared some people off but seeing that the world of crypto is still standing strong and still pushing $12k like it is the great resistance point it is, I feel like it is definitely going to change a lot of things.

Finally correction happened and people are still bullish about it, I feel like it will definitely do something bigger in the near future, hopefully that would be soon but if it is not soon it will be in 2020 for sure, could be late November or early December before we reach above $15k and even $20k levels finally. That is all my prediction via the fact that people didn't allow bitcoin to fall with the correction.

When it comes to correction talks then i dont really care much of it since you can simply buyback when the time comes and also market would neither push through or would correct itself.
We cant just see for it to continue to rise since it wont really be considered as a healthy market.
For 2020 and if this kind of gradual price movement then we can possibly hit up 20k of this year but still not an assurance and as mentioned or said by others that this will really be a bumpy ride.
Its just good to see that prices are starting to increase and this is where most people been waiting for after all a long time on moving sideways movement.

beerlover

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The price is definitely at around close to $12k right now and that is actually quite good as well because that small drop to around $11.4k levels scared some people off but seeing that the world of crypto is still standing strong and still pushing $12k like it is the great resistance point it is, I feel like it is definitely going to change a lot of things.

Finally correction happened and people are still bullish about it, I feel like it will definitely do something bigger in the near future, hopefully that would be soon but if it is not soon it will be in 2020 for sure, could be late November or early December before we reach above $15k and even $20k levels finally. That is all my prediction via the fact that people didn't allow bitcoin to fall with the correction.

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Quote from: reliable on August 12, 2020, 05:03:13 AM

In my view, bitcoin should stay in this level for some time, between 11k and 13k, for stabilization, then resume the way up.

Somewhat valid. If the market value will be continuously rising, it is more likely to be followed by a huge dump. So maybe, if the increase will be gradual, the chance for a correction to occur will be lessen. But since this is an unpredictable market, no one knows what would happen next. But let us all hope things will be in favor for this market in general. The current market price is quite showing a resistance at the $12k mark and the market price could go crazy upon breaking this mark.

Yamifoud

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The current market events seem to be a positive impact despite of the global economic crisis. People never think about the risk in crypto but they consider this as an opportunity for them to survive and actually they are right. It was observed that it have a negative impact on the market price during the first quarter as the pandemic hits us but people ain't that desperate enough to quite, instead, they are wise to choose to buy crypto.

We are very closed to $12k, and anytime soon we can reach it. Maybe this time we can say that we are stable at $11k but I've been confident that it will never stay that level for so long and we can move forward if the resistance level will keep rising.
I just see it...

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Quote from: Silberman on August 11, 2020, 01:39:39 PM

Bulls have tried to make the price to go above 12,000 during the last week and they have failed on their attempts and this can become problematic because as we know bitcoin has a tendency to move down really rapidly and if whales decide that they have obtained enough money out of this movement they can easily crash the price in a matter of hours, however it is my opinion that there is still some strength left in the current movement and that we are bound to eventually break that barrier.

There is a good buying happening again and market which had fallen till 11150$ has started to rebounce and now at 11550$. It was just a temporary phase where some whale might have sold it. SO those who had bought at lower levels would sell again at high to make some profit bookings. Should see again somewhere near 12k price range in coming days.

It's just a matter of time for bitcoin to continue to penetrate $ 12k, because bitcoin has done several times but indeed the momentum to remain stable in the $ 12K range has not yet gained, but soon it will be achieved even over and will continue to reach the point of up to $ 15K.

it takes patience for it to happen well, we are just waiting for the time that has already been seen several times.
be patient and be patient that bitcoin will be able to do that.

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Quote from: davinchi on August 14, 2020, 01:34:34 PM

Bitcoin people are optimistic about what bitcoin can do during a pandemic or even just any crash in the economy, that is the reason why I love bitcoin so much and other people do as well, we are quite optimistic about bitcoin no matter what happens in the world.

People are always making assumptions and I hate that, you couldn't known that, if you could have you would have tens of millions of dollars and wouldn't be here trying to tell people stuff, you would be surfing in hawaii by now. However people love to just make up stuff and tell them some assumptions and just act like they know everything and when they fail they create an excuse why it didn't worked out, well obviously it wouldn't, you didn't consider everything and when it failed your excuse is literally something you should have looked out for. It is just not fair, right now we are basically all sucked into this new "bull" run but the price went up and got stuck as it is tradition with bitcoin, I can't say if we are going to go up or down but it is definitely not going to be easy that is for sure.

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Bitcoin people are optimistic about what bitcoin can do during a pandemic or even just any crash in the economy, that is the reason why I love bitcoin so much and other people do as well, we are quite optimistic about bitcoin no matter what happens in the world. Oh millions of people were infected with a deadly virus and hundreds of thousands of people died?

Well, that is alright we will just break over our year to date price and become the best recovering investment of the year. That is something you will not find everywhere, that is why I think it is quite important to actually focus on what we can achieve instead of focusing on if this is a temporary increase or a permanent one. Since even if price eventually goes down, that still doesn't mean it will not go back up one day, it totally will, if it doesn't break over $12k today, it will do that one day.

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Quote from: reliable on August 12, 2020, 05:03:13 AM

Quote from: Silberman on August 11, 2020, 01:39:39 PM

Bulls have tried to make the price to go above 12,000 during the last week and they have failed on their attempts and this can become problematic because as we know bitcoin has a tendency to move down really rapidly and if whales decide that they have obtained enough money out of this movement they can easily crash the price in a matter of hours, however it is my opinion that there is still some strength left in the current movement and that we are bound to eventually break that barrier.

There is a good buying happening again and market which had fallen till 11150$ has started to rebounce and now at 11550$. It was just a temporary phase where some whale might have sold it. SO those who had bought at lower levels would sell again at high to make some profit bookings. Should see again somewhere near 12k price range in coming days.

It's now moving to $11,771. That dip dive makes those weak holders to lose their money,
nature of bitcoin being volatile.
It's a must to understand that if you are not willing to take the risk, the chance of losing
your money is very high.
Good thing here, the barrier is still at $11k, and again it's forming a good support. Maybe it's
another attempt to rise up and break $12k.

reliable

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Quote from: Silberman on August 11, 2020, 01:39:39 PM

Bulls have tried to make the price to go above 12,000 during the last week and they have failed on their attempts and this can become problematic because as we know bitcoin has a tendency to move down really rapidly and if whales decide that they have obtained enough money out of this movement they can easily crash the price in a matter of hours, however it is my opinion that there is still some strength left in the current movement and that we are bound to eventually break that barrier.

There is a good buying happening again and market which had fallen till 11150$ has started to rebounce and now at 11550$. It was just a temporary phase where some whale might have sold it. SO those who had bought at lower levels would sell again at high to make some profit bookings. Should see again somewhere near 12k price range in coming days.

STT

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Ironic thing is the pandemic was a boost in monetary terms to BTC because of the dilution to dollar in ratio, that helps BTC. So as that phase is reduced for this moment we should naturally see some consolidation and in perception a pullback. I think thats quite natural and in a longer term view it can be a positive thing for stability.

Some slight loss of momentum here and we remain in the higher range. A decent pullback is really to 50 or 30 day kind of averages, still quite high but averages us into July properly. I think thats a decent test and sign how we'll fair further out.

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Quote from: peterpanda on August 09, 2020, 08:20:36 AM

At this time bitcoin is on stable stage but within some days it will be rising. Hopefully we will be able to see bitcoin on good price very short possible of time as well as altcoin.

Nah, it would either be rising or dropping within some days. It might be stable this week but next week might be different since it has always been that way. Bitcoin never ceases to amaze me with its unpredictable price since I ever laid my eyes on it.

Altcoins seems to be following the trend this time although they were somehow have their own path but due to the longest time staying in the downside they seem to start to follow the trend for a change.

People should really be having this kind of mindset on where they should always anticipate that everything would possibly happen along the way.Never ever anticipate that the price would be steady in rising nor
not able to break supports because bitcoin can really frustrate you down when price goes to opposite way.

When we do mention about alts in green then this is a usual stuff because it is likely to go along with bitcoins price trend.If it goes green then it go the same way, same goes for dumping market
when everything is on red where you can see the same.

For now we are somewhat stabilizing in 11k price range and we wouldnt know if we would able to see 12-13k soon or for this year.

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Bulls have tried to make the price to go above 12,000 during the last week and they have failed on their attempts and this can become problematic because as we know bitcoin has a tendency to move down really rapidly and if whales decide that they have obtained enough money out of this movement they can easily crash the price in a matter of hours, however it is my opinion that there is still some strength left in the current movement and that we are bound to eventually break that barrier.

Slow death

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Quote from: ethereumhunter on August 11, 2020, 05:34:00 AM

Altcoins seems to be following the trend this time although they were somehow have their own path but due to the longest time staying in the downside they seem to start to follow the trend for a change.

I said in a post I made in the past that maybe this price increase was linked to the ETH 2.0 event and maybe I am right, but for me to be sure it will be necessary that in the next few weeks the price of ETH starts to fall and take the bitcoin and many altcoins. we'll see in the next few weeks if I'm right or wrong

Sooner or later, the price will come back to $12k because now, we are close to that price. I think that $12k will break again this month as we see that the price seems stable at a price now, but if there is bad news comes out, that can make some changes to the price, and we might see another correction again. I think it is enough for the last correction, and I think bitcoin price will be back to surge higher at the end of this week or next week.

it is very difficult to have bad news at this moment that the world is already facing the worst catastrophe in history, what can happen Is the end of the pump

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Quote from: Reatim on August 10, 2020, 07:22:51 AM

Quote from: peterpanda on August 09, 2020, 08:20:36 AM

At this time bitcoin is on stable stage but within some days it will be rising. Hopefully we will be able to see bitcoin on good price very short possible of time as well as altcoin.

Still comfortable with $11K+, there are small dip and continue to rise back. A very good sign that the value is forming a much more strong barrier.

If this will continue who knows how long it will take to break new level, good to see cause even small step up it's bring more interest from newcomers.

New investment will result to more strong support levels, if money start
to flow expect that much higher value will come to follow.

Sooner or later, the price will come back to $12k because now, we are close to that price. I think that $12k will break again this month as we see that the price seems stable at a price now, but if there is bad news comes out, that can make some changes to the price, and we might see another correction again. I think it is enough for the last correction, and I think bitcoin price will be back to surge higher at the end of this week or next week.

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Quote from: peterpanda on August 09, 2020, 08:20:36 AM

At this time bitcoin is on stable stage but within some days it will be rising. Hopefully we will be able to see bitcoin on good price very short possible of time as well as altcoin.

Still comfortable with $11K+, there are small dip and continue to rise back. A very good sign that the value is forming a much more strong barrier.

If this will continue who knows how long it will take to break new level, good to see cause even small step up it's bring more interest from newcomers.

New investment will result to more strong support levels, if money start
to flow expect that much higher value will come to follow.

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Well, bitcoin is not stable right now and sometimes altcoins that dropped significantly could increase significantly as well, that just means that they are more volatile and they could drop a lot faster and they could increase a lot faster as well. I do not think that all of them are like that, but I do not think none of them are like that neither, I just think there are some coins that could grow in bitcoin price while also growing in usd price thanks to bitcoin going up.

Obviously you have to be very careful on picking your altcoins because some of them could be like you said, go up in usd price because bitcoin went up but drop in bitcoin price in return and make you profit less than what you could have made if you just stayed with bitcoin instead of picking up that altcoin.

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Does everyone consider the fact that bitcoin went up around the same time as gold? I mean that looks like supports the idea that bitcoin is a store of value thing just like gold.

All economic indicators shows that the world is living in a terrible horrible situation and that means that people are losing their livelihood and money is losing value since every nation prints a ton of money and at the end the biggest one which is USA has printed trillions of dollars all of which caused money to lose value and that is why gold has gone up and also bitcoin has gone up just like gold as well.

I see this as a total win for us bitcoin people, we can once again prove that bitcoin doesn't lose value when there is an economical crisis, they instead make a profit during these bad times, which is awesome for investors.

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At this time bitcoin is on stable stage but within some days it will be rising. Hopefully we will be able to see bitcoin on good price very short possible of time as well as altcoin.

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Quote from: BrewMaster on August 09, 2020, 06:51:43 AM

Quote from: bangkecol on August 09, 2020, 05:40:36 AM

Then , The altcoins will follow it. My bag of altcoins has now started grow.

unfortunately when you look at the value of your bag of altcoins in terms of bitcoin most of the times you will see that the total value of it has decreased dramatically because they always dump against bitcoin. and the more altcoins you bag hold the bigger that drop is going to be.
but when you look at it in USD then it looks like it has grown, but why hold altcoins if you want USD profit in first place when the biggest rise is done by bitcoin?

Common perception of most people or investors here on this market on where they do look always in USD profit and when the time they do saw that their portfolio risen up in usd value then they
dont tend to look at btc value which is indeed dumping.They'll surely able to feel it when they do sell it off.

Its pretty common that alts goes green when bitcoin market do rise and for people who do bag hold alts then will really have that chance on earning in terms usd profit and this had
been always what people do believe on.

About calm before the storm then theres nothing certain when it comes to that matter.

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Quote from: bangkecol on August 09, 2020, 05:40:36 AM

Then , The altcoins will follow it. My bag of altcoins has now started grow.

unfortunately when you look at the value of your bag of altcoins in terms of bitcoin most of the times you will see that the total value of it has decreased dramatically because they always dump against bitcoin. and the more altcoins you bag hold the bigger that drop is going to be.
but when you look at it in USD then it looks like it has grown, but why hold altcoins if you want USD profit in first place when the biggest rise is done by bitcoin?

bangkecol

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Yes I very agree this market of cryptocurrency is on fire now. Looks at the btc price ... it is moving up slowly.
Then , The altcoins will follow it. My bag of altcoins has now started grow.

thecodebear

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Bitcoin stable in 11,000s seems bullish. I would think this upcoming week we'll see it move up to $12000s and maybe even over 13k before correcting again back to ~12,000.

$crypto$

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Quote from: Ridwan Fauzi on August 07, 2020, 01:35:05 AM

Quote from: DonQuijote on August 05, 2020, 07:17:31 AM

I will remain bullish as long as macroeconomic data is bad. Pullback? Maybe, but im optimist

Bitcoin's price is trying to touch $12.000 barrier again, it has been three days I saw the movement price is increasing. This is same with gold price movement, when many countries suffered a bad economic gold and bitcoin are trying to reach all time high price. And seem like it will countinue although the economic system is good because the people will be aware and take some learning with this situation that investment is really needed.

Bitcoin will experience a holding phase in the next few days because the current situation may be partially breakout, so after going through this the situation will re-emerge with an increase above $12k with gold continuing to increase because the economy continues to stick up so that the volatility will be quite high because people invest which is currently happening, maybe bitcoin will become a new reference and will be trusted by the public with the continuing increase in this price.

leea-1334

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Quote from: shoreno on August 05, 2020, 05:50:19 AM

quick drop and quick recover is better than longer ones because we all got bored waiting and almost lost our hope before .

not a typical move for btc on the past but these days yeah it is . weak hands are also hodlers but they arent only long term hodlers , are they a threat ? you arent lucky that your still holding but you only changed your mindset because you said you have your mistake before .

I am with you here,,, I always prefer the deep drops like what happened in March. Yes, it causes people to panic and drop it even more but this ensures all the speculators sell and the price becomes extremely low that it has to rebound and recover.

Better than slowly going up without a break and then eventually falling when everyone takes profit!

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Quote from: TravelMug on August 07, 2020, 12:26:47 AM

Quote from: sana54210 on August 06, 2020, 03:06:35 PM

Things are picking up once again, I am sure if this continues for a long time the price of everything will go up again. It is already reaching closer to $12k again for bitcoin and the price of ethereum is around 400 dollars as well.

$12k seems to be a big barrier to overcome as of now, Ethereum though goes above $400 momentarily but it's just $5 dollars away so maybe it can breach it anytime today. But for Bitcoin, we need more time, probably in the next 24-48 hours if the bullish sentiments continues.

I am sure that the big barrier price will be broken in the next days or even today. While bitcoin price now seems to stable at $11,7xx level, I think we need to calm down first to see what will happen with bitcoin price. Ethereum almost breaks $400 again, so it might happen this day or tomorrow, so if your target price is at $400, you can prepare for the coming, and don't forget to place your order sell before the price can touch that the price you want. That will work for bitcoin price too, so you don't miss the time to sell at your target price. But we don't know what will happen the next week, so we can make another plan to be ready for the upcoming weeks.

Ridwan Fauzi

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Quote from: DonQuijote on August 05, 2020, 07:17:31 AM

I will remain bullish as long as macroeconomic data is bad. Pullback? Maybe, but im optimist

Bitcoin's price is trying to touch $12.000 barrier again, it has been three days I saw the movement price is increasing. This is same with gold price movement, when many countries suffered a bad economic gold and bitcoin are trying to reach all time high price. And seem like it will countinue although the economic system is good because the people will be aware and take some learning with this situation that investment is really needed.

TravelMug

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Quote from: sana54210 on August 06, 2020, 03:06:35 PM

Things are picking up once again, I am sure if this continues for a long time the price of everything will go up again. It is already reaching closer to $12k again for bitcoin and the price of ethereum is around 400 dollars as well.

$12k seems to be a big barrier to overcome as of now, Ethereum though goes above $400 momentarily but it's just $5 dollars away so maybe it can breach it anytime today. But for Bitcoin, we need more time, probably in the next 24-48 hours if the bullish sentiments continues.

Quote from: sana54210 on August 06, 2020, 03:06:35 PM

All the other altcoins are doing very well as well except few. At the end of the day the price of crypto is doing great and that is why we could call that $11k stabilization a bit more like a calm before the storm because afterwards it looks like everything is doing a lot more and that is why I feel like it is awesome right now and doing even better than I expected and I would assume it would do better in the future as well if you ask me. I am definitely holding for now, I am not going to sell any time soon, specially not ethereum considering it will do 2.0 soon as well.

I think we can say that we are in a good position, despite the pandemic still around us. Maybe if not for the scare and the spread of the virus, maybe we can see the price on the $15'ish something. But as I have said, we are in a good position for the price to grow even more as we approach the last quarter of 2020. And it seems that bitcoin is becoming the number asset followed by Gold to be a hedge in this pandemic.

sana54210

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Things are picking up once again, I am sure if this continues for a long time the price of everything will go up again. It is already reaching closer to $12k again for bitcoin and the price of ethereum is around 400 dollars as well.

All the other altcoins are doing very well as well except few. At the end of the day the price of crypto is doing great and that is why we could call that $11k stabilization a bit more like a calm before the storm because afterwards it looks like everything is doing a lot more and that is why I feel like it is awesome right now and doing even better than I expected and I would assume it would do better in the future as well if you ask me. I am definitely holding for now, I am not going to sell any time soon, specially not ethereum considering it will do 2.0 soon as well.

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Quote from: peter0425 on August 04, 2020, 07:18:37 AM

Quote from: batang_bitcoin on August 04, 2020, 04:03:37 AM

Quote from: DustyRah on 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.

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

Traders who managed to work with sorting really get something good out from that market movements.

Yeah they really did, I also get my bitcoin pulled today coz I really feel that we are getting a huge dump in the next week. Those trader who make short trades with this market at the exact moment has some good fruits to eat, market displayed such a good movement and improvement for a long time that it is stuck in $9k range. This might just go the same as it was in $7k or $8k, it was stuck but then it was able to move at $10k, drop and stays to $9k and now it is at $11k, I'm really feeling good about this and seeing pattern from the past.

Quote from: peter0425 on August 04, 2020, 07:18:37 AM

Money was been played and weak hands are now regretting their loses, the short downfall is now being supported back
and regaining the momentum.

Downfall is necessary, we can't really have the movement to skyrocket with today's speculation unlike what we saw in 2017, that was a sudden skyrocket and no one expected that, now that every one is speculating it is hard to do that again. Plus we got a lot of weak hands these days, they are too afraid not to make money. pshhh.

Quote from: peter0425 on August 04, 2020, 07:18:37 AM

You'll be enjoying this especially if you are good in day trading set up.

Day and leverage traders, get ready Cheesy

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Quote from: snipie on August 05, 2020, 09:21:33 AM

Quote from: shoreno on August 05, 2020, 05:50:19 AM

quick drop and quick recover is better than longer ones because we all got bored waiting and almost lost our hope before .

It is more complicated. Quick drop and quick recover is a sign of high volatility, trading thing more than adoption and having new people joining the wave. Adoption will make the price sustainable and BTC more useful. Trading is good but it has risks, with maybe a crash to less than 5 digits in a matter of hours, which no one would see right now!

I prefer very quick and deep drops too, buying opportunity, and then when we do recover the highs are much higher and last much longer. I hate waiting for the drop and weeks of new highs cause that usually means very painful times when it finally does crash, as it always must after getting a new peak.

Harlot

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One thing that worries me about this pump is the only time that the volume is big is only July 26 but after that even if the price was increasing you will see that the volume is decreasing considerably thus making this a bearish market until now and what we are seeing is a bull trap. Let's just be careful because this is one of the indicator that shows a fake breakout. Let's just observe if this will continue as we don't already know that this is a weak bullish pattern without volume.

DeathAngel

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11609, maybe we see a push towards 12000 this week, it’d be bullish AF if we can close the week in the 12000’s. I think we’re in a baby bull market, we’re not ready for a parabolic rise right now but we’re certainly moving in the right direction.

snipie

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Quote from: shoreno on August 05, 2020, 05:50:19 AM

quick drop and quick recover is better than longer ones because we all got bored waiting and almost lost our hope before .

It is more complicated. Quick drop and quick recover is a sign of high volatility, trading thing more than adoption and having new people joining the wave. Adoption will make the price sustainable and BTC more useful. Trading is good but it has risks, with maybe a crash to less than 5 digits in a matter of hours, which no one would see right now!

DonQuijote

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I will remain bullish as long as macroeconomic data is bad. Pullback? Maybe, but im optimist

arwin100

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Quote from: kotajikikox on August 05, 2020, 06:32:27 AM

Quote from: shoreno on August 05, 2020, 05:50:19 AM

Quote from: batang_bitcoin on August 04, 2020, 04:03:37 AM

Quote from: DustyRah on 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.

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

quick drop and quick recover is better than longer ones because we all got bored waiting and almost lost our hope before .

not a typical move for btc on the past but these days yeah it is . weak hands are also hodlers but they arent only long term hodlers , are they a threat ? you arent lucky that your still holding but you only changed your mindset because you said you have your mistake before .

it's all about how you anticipate.

If you are knowledgeable with the current situations, taking advantage of picking the profits in every movements are good.

Every actions inside this market have correlative benefits for every traders who understand the whole point of trading, everything will
depends from how you value your position and how you will gain from each trades that you' made.

Yeah that's why people need to learn this since if they think about long term only provably they will hit hard on the floor waiting for big pumps compare if we take an action in this small movements we can earn some good profits in correct actions and decisions, but as well we need to be knowledgeable first before we can see some good spot and have a good timing to buy and dump in some certain situations in the market.

kotajikikox

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Quote from: shoreno on August 05, 2020, 05:50:19 AM

Quote from: batang_bitcoin on August 04, 2020, 04:03:37 AM

Quote from: DustyRah on 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.

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

quick drop and quick recover is better than longer ones because we all got bored waiting and almost lost our hope before .

not a typical move for btc on the past but these days yeah it is . weak hands are also hodlers but they arent only long term hodlers , are they a threat ? you arent lucky that your still holding but you only changed your mindset because you said you have your mistake before .

it's all about how you anticipate.

If you are knowledgeable with the current situations, taking advantage of picking the profits in every movements are good.

Every actions inside this market have correlative benefits for every traders who understand the whole point of trading, everything will
depends from how you value your position and how you will gain from each trades that you' made.

shoreno

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Quote from: batang_bitcoin on August 04, 2020, 04:03:37 AM

Quote from: DustyRah on 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.

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

quick drop and quick recover is better than longer ones because we all got bored waiting and almost lost our hope before .

not a typical move for btc on the past but these days yeah it is . weak hands are also hodlers but they arent only long term hodlers , are they a threat ? you arent lucky that your still holding but you only changed your mindset because you said you have your mistake before .

STT

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Quote from: Yaunfitda on August 01, 2020, 08:20:31 AM

If not for the pandemic, maybe we are in the $14k range.

I'd say it the other way round, if not for emergency measures we'd have a tougher time from not as many new dollars being circulated. Any amount of QE or similar helps market first quite easily which helps BTC by extension as its basically part of forex now.

Round 11.5k is a bit of a top so a bit of a ceiling perhaps old volume where we settled each week last year

batang_bitcoin

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Quote from: peter0425 on August 04, 2020, 07:18:37 AM

Quote from: batang_bitcoin on August 04, 2020, 04:03:37 AM

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

Traders who managed to work with sorting really get something good out from that market movements.

Money was been played and weak hands are now regretting their loses, the short downfall is now being supported back
and regaining the momentum.

You'll be enjoying this especially if you are good in day trading set up.

Very applicable to traders and they all know what to do. And as we discuss about being chill and how to stop being a panic seller. Here goes the market again, we've got another typical bitcoin day.
Price goes $11,300 again. For holders, this doesn't do much because we all expect that it will eventually recover and recover again after it dumps.

Leviathan.007

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These two are directly related together. The reason of why altcoins are green and rising is because of the Bitcoin's dominance. During the rising the Bitcoin to 11K channel all the alternative coins were falling down due to the dominance the emotional sharp movements and now after the stability of the price, the bitcoin dominance is rising after reaching the support. That's the reason why altcoins rise after the stability of Bitcoin.

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Quote from: reliable on August 04, 2020, 04:56:45 AM

Good time for investors to accumulate some more at this level as from 12k it had come down till 11k approx. So those who had missed that run wants to buy now before they miss out another run. Looking good for the some rise to happen form this levels it seems as it is quite stable above 11k levels before it takes a run again.

Seem like bitcoin's price will fall to $10.000 again before the bull run comes. As we can see now in thr time frame one day there is a bearish candle that I don't know it could be happen. The candle in one hour is really long and I believe the movement price now will try to pass this candle first. More than that, there in an article on cointelegraph which stated that bitcoin's price will back to $10.000 and after that the price will goes back to increase. So, I think for those investor who still hold their money should consider first before decide to buy. They should make the analyst first and accumulate the possibilities that will be faced.

peter0425

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Quote from: batang_bitcoin on August 04, 2020, 04:03:37 AM

Quote from: DustyRah on 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.

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

Traders who managed to work with sorting really get something good out from that market movements.

Money was been played and weak hands are now regretting their loses, the short downfall is now being supported back
and regaining the momentum.

You'll be enjoying this especially if you are good in day trading set up.

batang_bitcoin

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Quote from: reliable on August 04, 2020, 04:56:45 AM

Quote from: batang_bitcoin on August 04, 2020, 04:03:37 AM

Quote from: DustyRah on 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.

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

Good time for investors to accumulate some more at this level as from 12k it had come down till 11k approx. So those who had missed that run wants to buy now before they miss out another run. Looking good for the some rise to happen form this levels it seems as it is quite stable above 11k levels before it takes a run again.

They can buy at any price that they want. They have to be visionary and have a thought in the long term not just with the short term. They can short but refill their positions back if they sell and buy in again.
The cycle which could make them have their own positions and get a better price as they sell should be in their decided price to sell. No regretting if they sell and if they buy but have to follow the vision and plan they have made.

reliable

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Quote from: batang_bitcoin on August 04, 2020, 04:03:37 AM

Quote from: DustyRah on 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.

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

Good time for investors to accumulate some more at this level as from 12k it had come down till 11k approx. So those who had missed that run wants to buy now before they miss out another run. Looking good for the some rise to happen form this levels it seems as it is quite stable above 11k levels before it takes a run again.

batang_bitcoin

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Quote from: DustyRah on 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.

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

maydna

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Quote from: Reatim on August 02, 2020, 07:10:14 PM

Quote from: maydna on August 02, 2020, 02:12:06 AM

~snip~

I'm also optimistic that it can go further, that range is achievable even there's still ongoing pandemic, there are lots of speculations
where bitcoin will go more and tries to reach another breakdown. This current condition might be the good barrier and forming a good resistance
before ranging up again.

Though the clear direction to predict is not that easy, always have a sets of back up plans when you make any entries just to make sure that you are ready any interference and any downfall that may happen while you are into this investment.

It's better to ready yourself making your adjustment
when it's needed you to decide.

I think this time after the bitcoin price can break $10k, the price increase slowly and tends to stabilize at a price now, but we don't know if that is a sign to stable for a while, or it will increase higher. I am sure that bitcoin is stronger to even we are still at ongoing pandemic until now.

We need to calm down in these situations because bitcoin price is still unpredicted where the price will go, and as you say, it is better to have another plan as a backup plan, so we don't panic if bitcoin price turns the direction.

fullhdpixel

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Quote from: MainIbem on 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/

That is the great thing about bitcoin, we could have the worst type of period in all of humanity and it would still go up, money itself also goes down so there is really no reason for people to move their bitcoins to fiat, why would they? Fiat would lose value anyway. Think about Venezuela for a second, if you owned bitcoin during their horrible period when everything was getting super expensive, having fiat wouldn't really help you would it?

I mean with bitcoin you could get dollars instead and with that dollar you could either buy anything you want if you could find it, or just order anything you want from outside, or just get out of the country for a while until everything got better. Simply put, on bad days bitcoin is still a great option since everything else is even worse.

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Quote from: maydna on August 02, 2020, 02:12:06 AM

Quote from: Yaunfitda on August 01, 2020, 08:20:31 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.

I'm also optimistic that it can go further, that range is achievable even there's still ongoing pandemic, there are lots of speculations
where bitcoin will go more and tries to reach another breakdown. This current condition might be the good barrier and forming a good resistance
before ranging up again.

Though the clear direction to predict is not that easy, always have a sets of back up plans when you make any entries just to make sure that you are ready any interference and any downfall that may happen while you are into this investment.

It's better to ready yourself making your adjustment
when it's needed you to decide.

MainIbem

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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/

bitgolden

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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.

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Quote from: Yaunfitda on August 01, 2020, 08:20:31 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.

davis196

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Quote from: exstasie on 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

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.

Quote from: Yaunfitda on August 01, 2020, 08:20:31 AM

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.

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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.

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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.

Slow death

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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

If not for the pandemic, maybe we are in the $14k range.

really the pump would have been much bigger from January to July

LogitechMouse

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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.

Yaunfitda

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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.

Taskford

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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.

exstasie

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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

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.

Quote from: DevilSlayer on August 01, 2020, 01:54:09 AM

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.

LAngel

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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

Coin_trader

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Quote from: TopTort777 on 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?

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.

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.

batang_bitcoin

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Quote from: BrewMaster on July 31, 2020, 09:07:37 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.

Oasisman

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Quote from: The Sceptical Chymist on July 31, 2020, 11:58:59 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.

DevilSlayer

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Quote from: TopTort777 on 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?

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.

LUCKMCFLY

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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.

TopTort777

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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?

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Quote from: snipie on July 31, 2020, 10:20:23 AM

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.

The Sceptical Chymist

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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).

snipie

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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!

fabiorem

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In my view, bitcoin should stay in this level for some time, between 11k and 13k, for stabilization, then resume the way up.

rhomelmabini

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It has been on long accumulation on the $9k phase and still I'm looking bullish. Let that 12k be the resistance.

I thought that OP was the one who made a good analysis here, apparently it was from an article, still, thanks for sharing.

el kaka22

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I do not think that this current bull run was triggered by just one thing, it was probably combination of many things together. Like for example could it be late effect of halving? Sure it could be, and I am 100% sure that played a bit of role. Could it be new input of money from Indians? Why not it totally can be, I am 100% sure it played a bit of role. I believe everything positive combined together plays a role in this increase, not just one thing could increase the price of bitcoin, but when many good things get together, it makes it go up like crazy and be above the sellers amounts.

Obviously this could continue for a very long time and break the ATH prices, or it could drop tomorrow back to $9k, it all depends on how much hyped the buyers are and how much more they are willing to put into the market. So, being stable around $11 is not at all possible as far as I know how BTC markets do react after a bull run which includes breaking of major resistance levels.

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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.

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