Here’s what traders expect now that Bitcoin price rallied back to $50K

TheGreatPython

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Quote from: rahmatrf331 on September 05, 2021, 05:32:41 AM

Markets tend to behave cyclically and if you can hold on long enough while managing your exposure it can be a steady source of income and knowledge, although it can also be very painful at times. The resistance at $50k was so strong that yesterday the price retreated to $47k, luckily it didn't drop below $47k. today the market is back to support to the figure of $50k but conditions are still very weak.
The turnaround is incredible this time around and many assume that bitcoin will break through to $100k later this year and traders making such predictions are actually just trying to cash in on their long-held buy assets.

I would say that up and down are the only options in the crypto world, or in any market really and that is why I do not think that there is any other option to pick. Bitcoin sometimes goes down and in that period you buy it because that is what you should when its low, then it goes up and that is when you should sell.

Honestly it is all about timing but even if you time it wrong, if you buy when it goes down, it may keep going down but eventually will go up, so if you time it right then you can buy at bottom and sell at peak but even if you do not reach that level of perfection you will eventually end up with doing it correctly if you could simply just buy when it goes down and sell when it goes up because those are the only options.

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Quote from: darkangelosme on September 06, 2021, 05:44:54 AM

Quote from: bitgov on September 05, 2021, 04:24:16 PM

Quote from: Wakate on September 05, 2021, 03:59:46 PM

The speculation of the price of Bitcoin hitting $50k before going to either upward direction or downward direction will be determined by price and nature of the market. Bitcoin had already hit $50k and now already at $49k which can still go down before going bullish to hit its previous high.

Based on the positive news of the crypto be market from different corner, I think Bitcoin might decides to continue it's upward trend that Could hit $100k before the end of January 2022

At the moment, we can see that it is practically impossible to predict how Bitcoin will behave in the short term. This thread, however, is there to speculate about it.
Just as we speculate that Bitcoin could have $100k by the end of January 2022, we can also say that Bitcoin could have $200k at the end of January 2022. No one really can predict this, so all these amounts are just a lottery .

Every traders have different point of view no one can say what will Bitcoin can do in market this year except those who has big investment in the game or what we call big we call big whales. The only we can do is to do the rules of buy when low and sell when high.

Yeah not every traders we know have the same point of view towards on what will happen on future since each traders have their own predictions and strategy on how they execute their trades. But one thing we can look after their prediction and that is what is the prediction of majority then we can connect it since if many think about positive as well as it correlate to the market movement then we can say that we might see a bullish situation on next following days.

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Quote from: bitgov on September 05, 2021, 04:24:16 PM

Quote from: Wakate on September 05, 2021, 03:59:46 PM

The speculation of the price of Bitcoin hitting $50k before going to either upward direction or downward direction will be determined by price and nature of the market. Bitcoin had already hit $50k and now already at $49k which can still go down before going bullish to hit its previous high.

Based on the positive news of the crypto be market from different corner, I think Bitcoin might decides to continue it's upward trend that Could hit $100k before the end of January 2022

At the moment, we can see that it is practically impossible to predict how Bitcoin will behave in the short term. This thread, however, is there to speculate about it.
Just as we speculate that Bitcoin could have $100k by the end of January 2022, we can also say that Bitcoin could have $200k at the end of January 2022. No one really can predict this, so all these amounts are just a lottery .

Every traders have different point of view no one can say what will Bitcoin can do in market this year except those who has big investment in the game or what we call big we call big whales. The only we can do is to do the rules of buy when low and sell when high.

bitgov

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Quote from: Wakate on September 05, 2021, 03:59:46 PM

The speculation of the price of Bitcoin hitting $50k before going to either upward direction or downward direction will be determined by price and nature of the market. Bitcoin had already hit $50k and now already at $49k which can still go down before going bullish to hit its previous high.

Based on the positive news of the crypto be market from different corner, I think Bitcoin might decides to continue it's upward trend that Could hit $100k before the end of January 2022

At the moment, we can see that it is practically impossible to predict how Bitcoin will behave in the short term. This thread, however, is there to speculate about it.
Just as we speculate that Bitcoin could have $100k by the end of January 2022, we can also say that Bitcoin could have $200k at the end of January 2022. No one really can predict this, so all these amounts are just a lottery .

Wakate

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The speculation of the price of Bitcoin hitting $50k before going to either upward direction or downward direction will be determined by price and nature of the market. Bitcoin had already hit $50k and now already at $49k which can still go down before going bullish to hit its previous high.

Based on the positive news of the crypto be market from different corner, I think Bitcoin might decides to continue it's upward trend that Could hit $100k before the end of January 2022

dezoel

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Honestly I believe that there is a good chance we could make a big increase right now, it has been around here for a while and even when the price tried to go down we managed to go up back to 50k level and that tells us something. It is the proof that even when price tries to go down, market will not let it go down and believes that we could do it, and that is what I am planning on doing sometime soon, it is definitely something that we deserve to do.

I am not saying that we won't ever go down, of course we will go down eventually but the reality is that we do not have to go down, and even if we do that will probably be a small drop first but then a big increase later on. It is just obvious that we are trying to break out right now.

rahmatrf331

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Markets tend to behave cyclically and if you can hold on long enough while managing your exposure it can be a steady source of income and knowledge, although it can also be very painful at times. The resistance at $50k was so strong that yesterday the price retreated to $47k, luckily it didn't drop below $47k. today the market is back to support to the figure of $50k but conditions are still very weak.
The turnaround is incredible this time around and many assume that bitcoin will break through to $100k later this year and traders making such predictions are actually just trying to cash in on their long-held buy assets.

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Quote from: Kusman on September 05, 2021, 04:12:12 AM

I wonder if PlanB will predict the price correctly in this year.

You're a trader (if I believe you) so you don't really have much "choice" but to follow the masses;) Much as I don't really follow, PlanB's direction has pretty much been the one still on track, with the least divergence from his lines. We're still not there yet, and the line's been a lot more stable than anyone's been plotting. I still feel 200MA's not comfortable enough for me to feel absolutely positive.

Kusman

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I think that the most of the traders are expecting to see the price at 100k dollars by the end of this year. After seeing that the price has reached 50k dollars, they believe that we will see a bull run also. And I'm one of them too actually. In the worst case, I expect a bull run starting in late October. After that, everybody will be eyeing Bitcoin about what level it will manage to reach until the end of the year. I wonder if PlanB will predict the price correctly in this year.

CaVO32

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Quote from: asrinur on September 04, 2021, 04:42:17 AM

Bitcoin is now at one of its last major high timeframe resistances after experiencing a dip a few months ago. Once bitcoin is able to break through this $50k resistance, there will be little resistance ahead until the old all-time high is hit again in the near term. However traders should be on the lookout for a possible move to $45k, while a break and close above $50k could lead to a rally to $55k.

Any possibility can really happen in this market. And everyone should be ready for what is to come, whether a lil bit of decline or going up. We can also exercise scalping to get small profits while waiting for the seemingly bullish run again. Wondering where are those people who were speculating bitcoin to go down as low as 20k, because the opposite happens in the market.

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Quote from: hatshepsut93 on September 04, 2021, 03:49:47 PM

IMO the market is in very undecided state now. On one hand the rate of growth has slowed down, and when that happens a downside movement becomes quite likely. On the other hand, Bitcoin just established itself above the psychological $50,000 level which is quite bullish. I think it's very likely that there will be a bit more upside movement, maybe $53-54,000, and then a new test of support.

Probably there is a lot of liquidation going on when we touch base the psychological $50k level that's why it seems that it's not gaining momentum and somewhat slow down. And it seems that there is a tug of war on both direction.

But we are still in the bullish phase, just very slow though and grinding everyday. Nevertheless, once this run goes again, $53k-$54 could be slice like a butter. Meaning it won't stop and those barriers and resistance line will be broken easy.

hatshepsut93

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IMO the market is in very undecided state now. On one hand the rate of growth has slowed down, and when that happens a downside movement becomes quite likely. On the other hand, Bitcoin just established itself above the psychological $50,000 level which is quite bullish. I think it's very likely that there will be a bit more upside movement, maybe $53-54,000, and then a new test of support.

asrinur

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Bitcoin is now at one of its last major high timeframe resistances after experiencing a dip a few months ago. Once bitcoin is able to break through this $50k resistance, there will be little resistance ahead until the old all-time high is hit again in the near term. However traders should be on the lookout for a possible move to $45k, while a break and close above $50k could lead to a rally to $55k.

buwaytress

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Yeah, I'm on for support at 43k as Kemarit says, breaking that decisively would shear back my expectations, unless a quick rebound back to 50k happens within the week after that.

Still plenty of time to see if we don't get past 52000 by Sunday close though. Keep the popcorn coming.

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Quote from: Kong Hey Pakboy on September 03, 2021, 11:22:53 PM

Quote from: irsada on September 03, 2021, 01:27:24 PM

On August 23 many traders and investors took profit at the price of $50k. but for now I think bitcoin's target is increasing maybe around $60k which indicates the market will be bullish again after a few days of correction.
this is the right moment for investors to add to their bags.

If the traders take profit again this time, we might not see bitcoin breaking through 100k because it's always getting taken aback because a lot of people are selling, hopefully it won't be the case for this time and we get to have more people hodl this time and wait for at least some time to take profit again.

When the traders can profit at $50k and can buy at a lower price, their target sell price will be increased and not at $50k anymore, but it could be at $51k-$55k or even their target price be at $60k.
It is exciting to see bitcoin price can back to the higher price of $50k and hopefully, the price can still stay at this price and in the next week, the price can increase more than the price now.
Yes, we might see another bull run for bitcoin price and rise to the high price and we could have the next ATH this year.
Hopefully, this month will be the month for us to make a big profit again.

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Quote from: irsada on September 03, 2021, 01:27:24 PM

On August 23 many traders and investors took profit at the price of $50k. but for now I think bitcoin's target is increasing maybe around $60k which indicates the market will be bullish again after a few days of correction.
this is the right moment for investors to add to their bags.

If the traders take profit again this time, we might not see bitcoin breaking through 100k because it's always getting taken aback because a lot of people are selling, hopefully it won't be the case for this time and we get to have more people hodl this time and wait for at least some time to take profit again.

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Quote from: cafucafucafu on September 03, 2021, 07:43:25 PM

Quote

Bitcoin is “back in bull market territory”but traders warn that a retest of underlying support levels is bound to occur soon.

I think so as well.

$40k is probably going to be effective support though. Doubt people would be willing to let go of their coins below that level.

With so many major collaborations with the technology space especially there is no way that crypto is going to go back to the valuations that we saw a couple of years ago. The market has simply established and developed its resilience over time.

Yeah, that's the safe price, but the first support should be in the range of $43,000-$45,000. And it seems we are not getting to that price, again because that is the first line of support.

Another day to break $50,000 and remain there, we have a good rally and almost reach $51,000, but it wasn't sustainable as least at the current flow of money and trading volumes. Let's say this weekend will be on sideway pattern, and hopefully we can start fresh on Monday.

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Quote

Bitcoin is “back in bull market territory”but traders warn that a retest of underlying support levels is bound to occur soon.

I think so as well.

$40k is probably going to be effective support though. Doubt people would be willing to let go of their coins below that level.

With so many major collaborations with the technology space especially there is no way that crypto is going to go back to the valuations that we saw a couple of years ago. The market has simply established and developed its resilience over time.

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Quote from: ene1980 on September 03, 2021, 05:26:34 PM

Quote from: jakdanyel on September 03, 2021, 05:01:24 PM

Breaking the $50k resistance again before having a dump was really critical and Bitcoin made it! Otherwise, we might have seen another boring period and the price would have started decreasing drastically. Now, this must be a sign for $55k and $60k levels consecutively. And after that a bull run must come to be able to see $100k at the end of this year in the worst case.

We cannot expect the valuation to break the all time high valuation in a short period of time. Majority are expecting the market to be on the bullish trend till December before the major correction and if we pick up the momentum now what would be the price by the end of December, may be around hundred thousand. Whatever be the situation now, expect a few more minor corrections on the way before we break the all time high valuation.

You really believe that we will see a $100k price before the year ends?

Most of these people claiming that Bitcoin would reach such $100k price before the year ends are in total BS talking because none of them wasn't so sure about their prediction they just go straight to the chart then draw a straight line on where Bitcoin would be headed during its bull run. But what I believe is that the ATH won't happen again because if it does I believe more investors should dig in already but it seems that most of them doesn't trust or they just really don't like how the decentralized crypto works.

If you look at the chart there's no one like Bitcoin to stay at $50k most of them are already dumping when they see a $50k. But if whales are very generous they won't hesitate to pump it faster to almost $60k but they don't because it's not worth it for them.

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Quote from: jakdanyel on September 03, 2021, 05:01:24 PM

Breaking the $50k resistance again before having a dump was really critical and Bitcoin made it! Otherwise, we might have seen another boring period and the price would have started decreasing drastically. Now, this must be a sign for $55k and $60k levels consecutively. And after that a bull run must come to be able to see $100k at the end of this year in the worst case.

We cannot expect the valuation to break the all time high valuation in a short period of time. Majority are expecting the market to be on the bullish trend till December before the major correction and if we pick up the momentum now what would be the price by the end of December, may be around hundred thousand. Whatever be the situation now, expect a few more minor corrections on the way before we break the all time high valuation.

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Breaking the $50k resistance again before having a dump was really critical and Bitcoin made it! Otherwise, we might have seen another boring period and the price would have started decreasing drastically. Now, this must be a sign for $55k and $60k levels consecutively. And after that a bull run must come to be able to see $100k at the end of this year in the worst case.

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Quote from: irsada on September 03, 2021, 01:27:24 PM

On August 23 many traders and investors took profit at the price of $50k. but for now I think bitcoin's target is increasing maybe around $60k which indicates the market will be bullish again after a few days of correction.
this is the right moment for investors to add to their bags.

As usual when we do bump on resistance it would only having two possible outcome neither it would really be having some breakout or would really be having some rejection and expect that
those 10k increments would really be considered to be tough resistances on which people do really anticipate and commonly putting up sell order on those levels which is something not
really surprising and this is why we can really presume that whenever we do really hit up these levels then its neither having that same impressions that it might be having a hardtime
or would able to pass it effortlessly.

irsada

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On August 23 many traders and investors took profit at the price of $50k. but for now I think bitcoin's target is increasing maybe around $60k which indicates the market will be bullish again after a few days of correction.
this is the right moment for investors to add to their bags.

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Quote from: Lucius on August 27, 2021, 05:23:07 AM

So far I thought it was mostly beginners who are inexperienced and very easy to manipulate, but when I see just how many older members on the forum have completely misjudged the situation, I can’t help but get the impression that people just didn’t realize this is the most profitable year after 2017, and that every dip is a real gift that should be taken without any hesitation.

Sometimes I wonder what would have happened if most BTC owners were a little firmer and more resistant to FUD? And as for those topics "bitcoin can't stay above", they are mostly the product of our on-duty troll who claims to have mathematical and scientific evidence for it (from Russian and Chinese sources), and some have turned it into their game, for which I personally see no point.

In addition, we are already accustomed to the media, which at every significant drop in prices begin to predict some disaster scenarios, which of course do not happen in the end.

Unfortunately people like me who are here for long time, do not always make the greatest judgment neither because sometimes it is not in our character to be great at investment or money related stuff. I came into bitcoin not to make big investments and get rich, I came to it at first because there was a job chance and I was offered to be paid in bitcoin, that's how I met with bitcoin and ever since that day I have been doing exactly that, working and earning bitcoin.

I am not saying I am not investing or trading because I do that too but my main connection to crypto is working and earning it. So that means I have never been a great trader or investor and that's fine because that's not my main focus in crypto. This is why even some veterans make a lot of big mistakes as well.

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Quote from: STT on September 02, 2021, 06:42:54 PM

We have good momentum right now but I think the aggressive initial trend from the July bottom price is not there any more.

The bottom has actually disappeared from my view and now price is selling above $50,700 with more bull run on sight. The hourly chart has been defeated and price action still building up. Anytime the bitcoin bull start, it is better to look into the longer time chart for direction and from my perspective, I think we are going to see more highs by next and this moment from the daily and weekly chart formation.

STT

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Still rallying, still hesitating seems like. I just its best we see each range of prices being traded more then a flat number like 50k being that important. Theres a whole area of volume to work through to progress higher so probably wont be a simple take. We have good momentum right now but I think the aggressive initial trend from the July bottom price is not there any more.

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Quote from: pooya87 on August 26, 2021, 08:42:45 AM

I wouldn't expect those who have forgotten what happened 2 weeks ago to remember 4 years ago

It is not like this very same pattern is rare or anything, it is being repeated over and over and the weak hands react the same way by panic selling as soon as the FUD hits the fans. We had the "bitcoin can't stay above" topics lately all over the internet and yet bitcoin broke free of $30k prison... Then we went up 65% and some weak hands came back, so now they have to be stripped Wink

So far I thought it was mostly beginners who are inexperienced and very easy to manipulate, but when I see just how many older members on the forum have completely misjudged the situation, I can’t help but get the impression that people just didn’t realize this is the most profitable year after 2017, and that every dip is a real gift that should be taken without any hesitation.

Sometimes I wonder what would have happened if most BTC owners were a little firmer and more resistant to FUD? And as for those topics "bitcoin can't stay above", they are mostly the product of our on-duty troll who claims to have mathematical and scientific evidence for it (from Russian and Chinese sources), and some have turned it into their game, for which I personally see no point.

In addition, we are already accustomed to the media, which at every significant drop in prices begin to predict some disaster scenarios, which of course do not happen in the end.

Slow death

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the resistance that is at $50500 is very strong to the point of having made the price have retreated to the support that is at $47000, fortunately it did not break below $46200, being able once again to try to rise that break the $5500, if the price to break the $50500 then the next big resistance will be at $52000 and with that we will see the price trying to break a new ATH, but it is worth bearing in mind that in this zone above $47000 it is where it seems to me that people are selling to get the profits thanks to having bought in the $30,000

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Small correction in play at the moment but it changes nothing. The next stage of the bull run will commence in its blazing glory soon.

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Quote from: Lucius on August 25, 2021, 08:37:58 AM

If people remember anything from 2017, then it’s just what happened during December. Everything that happened before that doesn't matter to most people today, because many people made the wrong moves then and don't want to remember how we went from $1000 to $20 000. Therefore, we can read the stories of people who sold their BTC in the hope that the price would collapse because the bull run was over, which was completely wrong. If ever there was a time for someone not to be a weak hand, then it is right now.

I wouldn't expect those who have forgotten what happened 2 weeks ago to remember 4 years ago

It is not like this very same pattern is rare or anything, it is being repeated over and over and the weak hands react the same way by panic selling as soon as the FUD hits the fans. We had the "bitcoin can't stay above" topics lately all over the internet and yet bitcoin broke free of $30k prison... Then we went up 65% and some weak hands came back, so now they have to be stripped Wink

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It seems that your prediction isn't right, seems to be that a lot of traders are taking their profits at this point, we might see some movement to go back up again since this has happened before if I'm right.

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Quote from: bryant.coleman on August 25, 2021, 09:18:03 AM

The ATH level should be the next immediate target. From what I have seen, there were no major resistance levels, from the journey from 29K to 50K. I believe that the next one is not going to appear before $62,000, which is the current ATH level. I can observe a lot of whales rushing in to purchase, in anticipation of the next major bull rally. The correction is now over and the stabilization phase is going to last for a couple of months or so. And this period will provide the last opportunity to accumulate BTC for five-digit prices.

Or 6 digit prices at the end of the year.

There are several resistance though from $29k to $50k. The latest is the $48k barrier which we have just crossed after more than 3 attempts. And then $50k also seems to be a tough nut to crack as once we have reach it, the price suddenly dips.

However, I do believed that in the next coming months we might see new ATH, exceeding at least $70k and then that big 6 digits will be the next and that is the price that we all have been wanting to see because it will be historic.

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Quote from: bryant.coleman on August 25, 2021, 09:18:03 AM

The ATH level should be the next immediate target. From what I have seen, there were no major resistance levels, from the journey from 29K to 50K. I believe that the next one is not going to appear before $62,000, which is the current ATH level. I can observe a lot of whales rushing in to purchase, in anticipation of the next major bull rally. The correction is now over and the stabilization phase is going to last for a couple of months or so. And this period will provide the last opportunity to accumulate BTC for five-digit prices.

And then we think that the next rally will be in the 6 digits? That seems too overhyped, I think. But what I guess base on the current sentiment, we had reached $62k and might double it next ATH will probably be more than $100k.

Well, for now, I was expected for a short rally and then it drops again before we end this year. But I'd never think that we experience a bear market again this year, only just short rollbacks. Thus, if we still have money to invest, we never have to hesitate by doing it now while we still have the chance to buy at a cheaper price, otherwise, we forever miss this opportunity.

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The ATH level should be the next immediate target. From what I have seen, there were no major resistance levels, from the journey from 29K to 50K. I believe that the next one is not going to appear before $62,000, which is the current ATH level. I can observe a lot of whales rushing in to purchase, in anticipation of the next major bull rally. The correction is now over and the stabilization phase is going to last for a couple of months or so. And this period will provide the last opportunity to accumulate BTC for five-digit prices.

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Quote from: Bitcoin Seller on August 24, 2021, 05:18:35 AM

Quote from: Nathrixxx on August 23, 2021, 08:14:02 PM

Quote

Bitcoin is “back in bull market territory”but traders warn that a retest of underlying support levels is bound to occur soon.
There was widespread celebration across the crypto ecosystem on Aug. 23 after the sight of Bitcoin (BTC) back above $50,000 triggered a resurgence of calls for the top cryptocurrency to reach $100,000 before the end of 2021.

Data from Cointelegraph Markets Pro and TradingView shows that the early morning bullish momentum that lifted the price of BTC to an intraday high at $50,514 began to wane as the day progressed at currently the price trades slightly above $49,0.
https://cointelegraph.com/news/here-s-what-traders-expect-now-that-bitcoin-price-rallied-back-to-50k?utm_source=thecryptoapp

Interestingly, I come across some post on having invested long time ago prior to this stage Bitcoin has become, I made a comment that it's never too late to do so even now, the more Bitcoin progresses the further some go in it, while considering the most important factor of taking the risk, the entire Bitcoin community is on a smiling face both investors and traders, but for new investors it is advisable to pause and study, as it approaches $50,000
Base on my own predictable analysis, if it reaches anything above 50, then the tendency to reach 60 to 100 within a short or long run is visible. Investing is a game of prediction, if it turn high you gain and if low you loose, but those that venture into it carefully understand the strategy behind it to increase.

You are right that for those who are willing to wait for several years, even 60 000$ is not a limit. According to some analytics, the fundamental value of Bitcoin is 200 000$, so I am going to hold it for at least 5 or 10 years. What comes to 50 000$, this price is possible even in the nearest days. Another question is if people will sell off their Bitcoin on this level or not, but anyway, I am going to continue holding

If you want to hold for at least 5 or 10 years, you need to have patience and not panic because you will see the price will go up and down many times and that can make you confuse and unsteady holding bitcoin. When that happens, you will not think about a long-term investment but you can sell your bitcoin before the price reaches the lowest price. So I hope you can have a patient holding bitcoin and only sell when the time comes. $50,000 will come, but we need to calm down this time because the price is now getting correction for a while. And this time will be a good time to buy more bitcoin.

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Quote from: amishmanish on August 23, 2021, 10:13:47 PM

People like the OP are either naive or part of those pump and dump groups that spread rumors and then take positions.
These posts about BTC being above 50K and set for 60-100K are thus, not only unnecessary, but even malicious.

You may be right, we can't know what someone's intentions are, but I don't think there are any malicious intentions in this particular case - the OP is just one in a series of those that feed on media articles, which of course always adapt to the current situation. And at the moment, it seems that after months in the zone between $30k and $40k, we are on the way to achieving a new ATH, although some bad news can take everything back.

Quote from: pooya87 on August 23, 2021, 10:49:35 PM

$100k is also the same as $5k back in 2017 where media started "predicting as top" right after price got out of $2k range simply because they were incapable of seeing the bigger picture.

If people remember anything from 2017, then it’s just what happened during December. Everything that happened before that doesn't matter to most people today, because many people made the wrong moves then and don't want to remember how we went from $1000 to $20 000. Therefore, we can read the stories of people who sold their BTC in the hope that the price would collapse because the bull run was over, which was completely wrong. If ever there was a time for someone not to be a weak hand, then it is right now.

amishmanish

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Quote from: mk4 on August 23, 2021, 10:34:28 PM

I'm mostly bullish, but the market sentiment being overly bullish is slightly worrying in my opinion. Especially now that a lot of people is making freakishly amounts of money flipping NFTs and by buying the "Ethereum killer" coins, I'm definitely slightly skeptical.

In the defense of shitcoiners, I think those people really have a lot going for them because they are offering a solution that investors are willing to put money on. There definitely is demand for centralized blockchain contracts where the central authority is some well-known group of people or a corporation that guarantees the code. The setup is quite simple. There are investors willing to bet money on these blockchain contract providers and that is where the flippers are making insane amounts of money.

NFTs are a different story altogether. The concept of verifiable rarity having value isn't new. That is what NFTs do. A lot of those people have emerged from a bitcoin background itself. There is a lot going on there than we discuss here at the forum.

Bitcoin Seller

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Quote from: Nathrixxx on August 23, 2021, 08:14:02 PM

Quote

Bitcoin is “back in bull market territory”but traders warn that a retest of underlying support levels is bound to occur soon.
There was widespread celebration across the crypto ecosystem on Aug. 23 after the sight of Bitcoin (BTC) back above $50,000 triggered a resurgence of calls for the top cryptocurrency to reach $100,000 before the end of 2021.

Data from Cointelegraph Markets Pro and TradingView shows that the early morning bullish momentum that lifted the price of BTC to an intraday high at $50,514 began to wane as the day progressed at currently the price trades slightly above $49,0.
https://cointelegraph.com/news/here-s-what-traders-expect-now-that-bitcoin-price-rallied-back-to-50k?utm_source=thecryptoapp

Interestingly, I come across some post on having invested long time ago prior to this stage Bitcoin has become, I made a comment that it's never too late to do so even now, the more Bitcoin progresses the further some go in it, while considering the most important factor of taking the risk, the entire Bitcoin community is on a smiling face both investors and traders, but for new investors it is advisable to pause and study, as it approaches $50,000
Base on my own predictable analysis, if it reaches anything above 50, then the tendency to reach 60 to 100 within a short or long run is visible. Investing is a game of prediction, if it turn high you gain and if low you loose, but those that venture into it carefully understand the strategy behind it to increase.

You are right that for those who are willing to wait for several years, even 60 000$ is not a limit. According to some analytics, the fundamental value of Bitcoin is 200 000$, so I am going to hold it for at least 5 or 10 years. What comes to 50 000$, this price is possible even in the nearest days. Another question is if people will sell off their Bitcoin on this level or not, but anyway, I am going to continue holding

Dave1

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Bitcoin's hit another round number, so that's good. I'm waiting for some fomo to set in but it didn't happen. And then we have some pullback already. But as long as the price is above the average price of $43k, I think we are still in the bullish of phase.

As for the media outlets, sure that's there job, flipping from bitcoin bears to publishing bullish sentiments and what to expect.

Xinarae*

sr. member

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Bitcoin prices are rising and falling at the moment but the market is bullish but it does not take long to be bearish, so traders are not able to accurately determine how much it will rise. The price of bitcoin has returned to $ 50K but is falling again this time will be the best move to hold wherever the market goes, many people have made more profit and many people are buying altcoin with bitcoin. Everyone is coming to believe that with bitcoin the price of altcoin will go up.

Ausgewielt

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For now I don't feel any pressure yet. Usually the pressure only come when it is almost reach the peak of bullish or bearish market. My calculation is not 100% accurate I only can calculate the range of highest or lowest price. Now the price didn't reach the point that I calculate yet. So I will just wait, but I think the price will keep rising. What I need to do is becarefull about bear trap. In my opinion strong mentality is important too. I personally don't pretend this investment as a game of predictions because everything that I need to do calculation is available. I mean it is not based on luck. I think the probability is seen clearly.

pooya87

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It is funny how these useless media outlets jump from one nonsense article to another. It is not so long ago that they were publishing articles about bitcoin's demise. But now that price is going up, they are publishing new nonsense that can get most amount of traffic.

The fact is that bitcoin was never in a bear market to change directions now. There was a manipulation phase and a lot of FUD and the accumulation phase to buy bitcoin with almost 50% discount. That discount is ending now that the bull run resumes.
$100k is also the same as $5k back in 2017 where media started "predicting as top" right after price got out of $2k range simply because they were incapable of seeing the bigger picture.

mk4

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Paldo.io 🤖

I'm mostly bullish, but the market sentiment being overly bullish is slightly worrying in my opinion. Especially now that a lot of people is making freakishly amounts of money flipping NFTs and by buying the "Ethereum killer" coins, I'm definitely slightly skeptical.

amishmanish

legendary

Activity: 1904

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I wish i understood technical analysis to make sense of those charts. I never had much interest in investing, growth, compounding till I got to know about Bitcoin. Now I do understand that the markets tend to behave cyclically and if you can stay for a long enough time while managing your exposure, it can be a steady source of income and knowledge, though also of a lot of heartache at times.

I'd still take these 100K predictions with a pinch of salt. The turnaround has been amazing this time but you always hear these stories about how it'll "breakout" straight to 100K and that is what causes the retail FOMO. Most retail investors and newbies are ill-served by such predictions. IMO, traders who make such predictions are really just trying to encash their long positions. People like the OP are either naive or part of those pump and dump groups that spread rumors and then take positions.

These posts about BTC being above 50K and set for 60-100K are thus, not only unnecessary, but even malicious.

Fundamentals Of

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It seems $50,000 is now getting weaker. The price has fallen from it right now obviously but I think this is just a little correction after the recent rally.

If you notice, the increase in Bitcoin's price for the past days are very healthy and smooth. There is a rally followed by a tiny correction which is again followed by another rally and again a tiny correction and so on. Several green candles or long greens followed by a few red ones or short reds are a healthy sign. This is perfect. I think $60,000 is coming handy in the next days.

Tim-BTC

member

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We will be surprised to find that when the market does not need bad news, there will be no bad news in the media, and no one will create bad news. In fact, when the market continues to rise, even if there is bad news, it will be ignored intentionally or unintentionally, or simply interpreted as good news.

When will bad news follow? When retail FOMO swarmed into the market, institutions and new leeks changed hands at high positions, the market was full of weak hands at fragile high prices, and when the collapse was about to occur, the big bad news would follow one after another, like hail. The same smashed down, and the smashed retail investors fled in embarrassment.

dansus021

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Part of AOBT - English Translator to Indonesia

from my analysis bull run will happen when price above 50K yesterday btc touch 50 k and now doing small correction

Nathrixxx

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Quote

Bitcoin is “back in bull market territory”but traders warn that a retest of underlying support levels is bound to occur soon.
There was widespread celebration across the crypto ecosystem on Aug. 23 after the sight of Bitcoin (BTC) back above $50,000 triggered a resurgence of calls for the top cryptocurrency to reach $100,000 before the end of 2021.

Data from Cointelegraph Markets Pro and TradingView shows that the early morning bullish momentum that lifted the price of BTC to an intraday high at $50,514 began to wane as the day progressed at currently the price trades slightly above $49,0.
https://cointelegraph.com/news/here-s-what-traders-expect-now-that-bitcoin-price-rallied-back-to-50k?utm_source=thecryptoapp

Interestingly, I come across some post on having invested long time ago prior to this stage Bitcoin has become, I made a comment that it's never too late to do so even now, the more Bitcoin progresses the further some go in it, while considering the most important factor of taking the risk, the entire Bitcoin community is on a smiling face both investors and traders, but for new investors it is advisable to pause and study, as it approaches $50,000
Base on my own predictable analysis, if it reaches anything above 50, then the tendency to reach 60 to 100 within a short or long run is visible. Investing is a game of prediction, if it turn high you gain and if low you loose, but those that venture into it carefully understand the strategy behind it to increase.

Topic: Here’s what traders expect now that Bitcoin price rallied back to $50K (Read 414 times)