Topic: BTC bulls back? - page 6. (Read 1422 times)

Bitcoin is representing a sustainable and strong market in the face of negative impacts from FUD - SEc.  bitcoin is still moving sideways within a strong support area and not much volatility.  The data shows that the hash rate of the bitcoin network continues to increase by more than 300 EH/s which means that mining activity is on the rise again, which also demonstrates huge confidence in bitcoin.  The 7% drop leads me to believe that in terms of strategy bitcoin is continuing to perform well after the January rally. I think the possibility of this remains, bitcoin is perfectly fine with a slight uptick and still flat.

Yes, that's your good point.  But for me let's say bitcoin goes up and starts to build here along with data showing bitcoin mining difficulty keep increasing to 39.24T.  Totally feel bitcoin is vibrant almost again.

The golden cross indicator trolled people into buying back on the 2008 crash way too early, only to be dumped again. If it plays out as it did then the SP500 may fall another 30 to 35% which would mean BTC dumps once again to potentially 12k. Im not buying this hopium, still too many moonboys on this train to call a proper capitulation, holding cash for better prices.

I don't know how in this month whether bitcoin will experience a long correction after rising for 4 weeks or I think it is long enough but surely after that it will decrease again only behind the price of $ 21k can this be maintained or will it be deeper back to the previous price, but I think this price will hold even if there is some FUD out there.

As long as we don't panic in the current situation with a 7% decline because it's not for a real decline, it's better to wait for a positive trend that will definitely happen again.
But I think the halving is getting closer and people have to believe that cycles have always happened in history before.

Unfortunately this week the price was corrected again by more than 7%, at the beginning of February I was sure that the price of $ 25k would be reached before the 10th, and it turned out that my prediction was wrong, in fact the price is now only around $ 21k, hopefully the market will rise again like in January and when the market is red like now the best thing is to buy, don't panic sell because it will make us regret it.

I agree, bulls are scared easily because they know that they may have to wait months, or even over a year before they could make a difference, and that scares them a lot. Look at people who bought at high prices last time we were high, it has been over a year since those days and we have been going down ever since then. They fear that the same thing could happen again, which is obviously not going to happen, because we already dropped so much, but the idea of any drop scares them. Eventually the hype of bitcoin when it goes up a bit will be too much for them and it will just go on high when they all buy and it doesn't go down for a while.

BTC bulls tend to scare like sheep seems like and herd together in irrational moves.  Once you accept this things might feel slightly calmer or not but personally I dont take every price as absolute more like waves back and forth.

If we can break past 22.2k in this possibly nicer weekend action then it might be some relief upwards short term.    I do think we generally expand and need to find serious support but weekend is some opportunity for light action and maybe some buying of these lower prices from the 24k top price we had not so long ago.
  All day today and for the last couple days we've been below the 12hr average, relatively fast downwards.   Acceleration altering could have us slow this decline, hence relief rally possible.

It's called a speculator, so surely each of them always gives a different opinion about the price of Bitcoin. Just like you who think about better conditions at this time where you also state the reasons. So there's nothing wrong with those speculators because they also provide opinions that are in accordance with their own reasons even though you say this cannot be used as a guideline. Likewise with what you said, where this also cannot be used as a guideline because seeking 100% profit is not something that can be obtained easily.

They're all giving contents that they want viewers to get hook with what they produce. So, anything that's favorable to their viewers, that's what they make so that they won't move away from them.

I agree that you don't trust any of them. If there will be influencers that we should trust, they are very minimal and few and sometimes they're not even active at all.

Don't trust them if it's about the analysis in the market, sometimes they're not even correct and are just giving opinions that just like us, we have it too.

Not really a bull trap, we didn't move to just 20k, we moved to as high as 24k, which is nearly a 50% increase and people should realize that a 50% increase can't be a bull trap, that is a ton of profit right there already. The reality is that it was 16k, and 50% of that is 8k, add 8k to 16k and you get 24k, so it definitely reached from bottom to top a 50% increase.

It may not be there right now, and it is a little lower, but that doesn't change the fact that some people tok their profits and left, which caused this new drop, but it wasn't a bull trap neither. I really like the situation we are in and sensing that another big increase will come soon.

During January, the bitcoin price actually showed a pretty good increase even though some saw it as a bull trap. I do not agree with that opinion because the price went up and lasted for 4 weeks, while at the moment a correction is taking place which in the last 7 days the correction has reached 7% more. But behind that, bitcoin still shows 24% more gain in the last 30 days and it is still maintained even though FUD is hitting the market.

History may repeat itself as happened in previous cycles, but since this halving is still quite long, correction can still be expected. Nevertheless, the current bitcoin price is still holding above $21K and that is good news and may stay that way until early next week.

Don't trust Influencers too much about the opinions they sway, they only take advantage of our situation to panic or really don't understand more basicly, but when speculating, I don't think we should be taken more seriously, basically an Influencer just wants more followers. when speculators about bitcoin pay a lot of attention to it, so don't make it a source for you to buy something coins that are only influenced by them

Well it's much better to do your own research on what you will know and believe me there are still many trusted sources when you make a decision to invest, or if you don't want to get more complicated then just invest in long term bitcoin investment and don't be swayed by opinion or other speculators so that you don't falter on the way while investing in a coin, call it bitcoin.

Maybe often opening Twitter social media there are too many speculators, so I just want to find some sources that are accurate and for motivation while for prediction speculators I never respond to them because I know what I do while investing in bitcoin will not be affected in 1- 2 years about the predictions they gave, I am more focused on the long term with an even longer goal to earn bitcoins in a way that I can afford to lose in the sense that it will not interfere with the finances of my life.

Influencers on social media now mostly only have opinions about Bitcoin and other cryptocurrencies. They may not have in-depth knowledge and accurate information about the cryptocurrency market. Therefore, it is very difficult to make them a reliable source of information in making investments.

Instead, to make the right investment decision, you should do research and obtain information from trusted sources, such as the company's official website, financial reports, and reports from regulators. Also, it is very important to understand the risks associated with investing in cryptocurrencies and ensure that you only invest funds that you can afford to lose.

Many speculators play an important role in the cryptocurrency market, including the bitcoin market. They buy and sell cryptocurrencies on the fly and strive to capitalize on every price movement to earn profit.

However, the actions of speculators can lead to volatile price volatility, as they affect market supply and demand. Therefore, it is very important for investors to understand the dynamics of the market and the associated risks before investing in cryptocurrencies, including bitcoin.

Unfortunately, the opinions of speculators are not always reliable as a reliable source of information, and as such, it is very important to research and understands the factors that affect the price of bitcoin before making an investment decision.

In my opinion, if it is called a price trap, it can only happen in a short time but cannot last up to 4 weeks and has not shown any signs of stopping, so it cannot be called a price trap. It can be said that this is a short-term rally because the market cannot go down forever, the market is always moving, and that is what is happening in the market. I still believe in history, and I believe history will repeat itself, even if bitcoin hits $30k, I still doubt a bull run as we are still far from the halving event.

The market is currently unpredictable, many bitcoin speculators make strange movements, when many people think the price will drop what happens is the opposite, influencers on social media now mostly only have opinions so it's very difficult to be used as a guideline, and in my opinion the best thing with the current conditions is buy more then hold long term or already profit at least 100%.

That this is possibly a bull trap or a true recovery is 50:50. It could be either. Although that quick rise from $16,000 to more than $20,000 was notable, $20,000 is not really a level we could really call recovery. $20,000 doesn't signal that the bulls are coming. For all we know, we could be staying on this level for weeks and months to come. If that happens, I don't call it bullish. But if this rise in price would eventually reach beyond $30,000, then that's bullish.

Thats right, there will be two sides that you will get if you do that. if the long term will produce something big by looking at the next 10 years but if you can't be patient with all this then do a short term investment with hard thinking every day.

it's true, having a long-term investment in crypto is a dream because certainty can already be seen and proof that in the past it has happened, where long-term investments always produce the best. but it's not that short-term investing is not good, it's still good if you really master it. but indeed, if you have more funds and don't want to think too hard about having to monitor all the time, long-term investment is highly recommended.
but I don't believe that this year will be any better compared to last year, because the crisis is not over yet and hopefully there will be faster economic recovery.

The trend is your friend until it finished, we can't predict the market but we can react base on current market condition at a given time.
As traders and investors we should try to learn how to change our views with the changing market without sticking to what we think the market is gonna do, while things are starting to change.

The bottom line here is having seen Bitcoin starting to Break some important structural levels in the up direction of the market, is one positive sign.

Too, Bitcoin coming back to revisit those levels from which it took off $18k-16k ( confirmation), without breaking down to create another new low is another positive sign.

And lastly moving up to create another high, should tell you that the current Bear market has come to an end and a potential bull market has began.

So let's do the waiting game and allow Bitcoin to do its things and give us some proofs to actually confirm where it's heading to.

Bull trap is not going to take almost 4 weeks and more than 43% rise! A trap is quick and a lot smaller than this and it definitely won't go above the strong resistances such as the $20k that we had.

In other words a bull trap would have been price going up to $19k and then dropping back down again. But when it crossed $20k the possibility of it being a bull trap vanished.

It could be a trap or not, it's all just speculation. It is true that everyone expects bitcoin to recover, but there is nothing wrong with people suspecting this is a trap when they see bitcoin suddenly rise. Bitcoin rallied for no reason and without any news to push the price up, so it's no surprise that many are skeptical and cautious about this bull run. I'm still skeptical about this bull run, I can't say it's a trap, but I'm pretty confident saying we're still in bear season, we're not really out of bear season yet.