Topic: Bitcoin Surge - What is happening? - page 2. (Read 419 times)

Bitcoin is very volatile and everybody knows that this is not new in my opinion a movement like this can surely take place and can surely sway in the different direction without further notice, there are times that the market will be full of holder and buyer and sometimes full of weak handed people a sudden increase in the price isn't indicate a bull run anymore and a sudden decrease doesn't really indicate just a correction I think this is pretty normal but if the price would reach another all-time high then that would make me sure fall from my seat.

The drop last night was provably attributed to the Bitmex Exchange reaching 8.6k, Imagine how many millions of USD were lqiuidated last night knowing that the long bullish season arrived. Techinically this is called a indirect stealing. They purposedly turn down thr market by dumping simultaneously. How does it feel to be played by whales, its not funny.

Only exchanges were able to gain profit last night and some of those traders that this is just an old move like in the history. Good thing I did not do any orders cause the fact that thr surge is so fast, retracement will always comes next after that. I just did not expect it damn fast.

Then what about now that the price of Bitcoin drowned to almost $1k lose?

Remember that Volatile market is what Bitcoin and crypto currency is so any movement is normal either Uptrend or Downtrend.

What is important is you know when to Buy and when to sell,or How long to Hold and how much to sell.

we have been here for years now so we must be familiarized this kind of scenario.

Nothing out of the ordinary

In fact, things are happening according to a scenario described in this thread two and a half years ago (in early December 2017). In short, with less liquidity in the market, we are going to see increasing levels of volatility. It typically happens when prices rise exponentially due to liquidity running low, but volatility can surge even if liquidity is low for any other reason, e.g. due to halvenings, holding, etc. This is kinda inevitable with scarce and valuable assets

The surge yesterday is a trap for traders for a further buy but after some hours, it dropped again. The reason for the surge is not certain yet for me convincingly. That is why trading with money management is always advised for traders because price can take any direction at whatever given order.

Though Bitcoin surge to 10k but some analysis stated that a fake triangle break out is seen, and it happens. 

The article 3 Main Reasons Bitcoin’s Price Plummeted 14% in 15 Minutes to $8,600 might be a good read to know why Bitcoin price goes down after breaking $10k.

I'm sorry but the spike didn't last that long, after Bitcoin going above $10,000 it seems that the price wasn't sustainable at all.

Over a $130 Million in Bitcoin Shorts Liquidated as Bitcoin Reclaims $10,000 - https://www.thecryptoassociate.com/over-a-130-million-in-bitcoin-shorts-liquidated-as-bitcoin-reclaims-10000/

And I don't know if this news has something to do with the Bitcoin rejecting that five digits again:

https://news.bitcoin.com/hackers-move-another-800k-in-btc-stolen-from-the-2016-bitfinex-breach/

It appears that we might also have a new Tom Lee indicator. His name is Anthony Pompliano. The dump occured 16 hours after this announcement he made on Twitter hehe.



Source https://twitter.com/apompliano/status/1267604444650315776

I've read Plan B's Bitcoin S2F model and all I can say is that even if his price prediction and explanation is very convincing the thought of his analysis only focusing on the supply and demand of Bitcoin made me feel that it is inaccurate. There are still a lot of external factors to consider when we are talking about the price forecasting of Bitcoin since it greatly affects it's price movement regardless of the current demand and supply of Bitcoin. External factors such as laws, macroeconomy, and adoption is something that the S2F hasn't taken into consideration which makes the price prediction purely based into it be inaccurate.

Theres even that biggest Short squeeze : https://www.coindesk.com/bitmex-short-squeeze-bitcoin-surge

and now

We had that same movement but in the opposite side: https://www.coindesk.com/bitcoins-price-drops-by-800-in-less-than-5-minutes

Something new? This had happen in the past for how many times and remain questionable.

I just recently woke up and based on my personal routine, I checked CMC and I noticed a sudden increase now Bitcoin reaches more than $10,000. I've read a few articles, for the past 3 months, this is the first time bitcoin reached new heights, according to newsbtc, the jump was more than 7% before it moves.

What is really happening?

Still, based on the article, there is more than $80 million assets that was moved or liquidated on BitMEX alone in just an hour.

Photo credit to Skew.com

I'm not sure what's next to happen, or maybe, this is inclined with the recent bitcoin halving that this person: Mike Novogratz has the guts to create too much hype as he stated:


But no matter what this news tells us, I am expecting bitcoin greater heights in the near future. Just the same as his perception, there's a possibility that $10,000 might become the resistance. What do you think?

Here's another one, there are rumors that the recent red dot in bitcoin's stock-to-flow model might impact the bitcoin price in the future in a positive way, they even indicated bitcoin priced at $100,000 in 2021.


I don't know why people speculate this much and create this kind of hype. Though there's still a possibility for an increase, there's not much basis for people to believe just because of what the graph shows.