Keep up with the technical and fundamental trends of the market

pooya87

legendary

Activity: 3472

Merit: 10611

but we have to wait and see how this Biden policy will work and Bitcoin can continue its trend after this?Or is it just a bubble?

It is not just Biden policy, US (and similarly other countries) have been printing a ton of money over the past 2 years. The inflation has already started to show its ugly face too. It won't be surprising to see bitcoin is the first to show reaction to this crazy money printing policy.

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But we should not forget that the United States and China are among the superpowers and their support or opposition to bitcoin will have a great impact on the price trend and chart of bitcoins,Negative news from the US government is also extremely destructive to the bitcoin situation.

Yes it would be another short term negative effect on the price with some panic sell.

GreatArkansas

legendary

Activity: 2506

Merit: 1394

This is the data from the last year stimulus check that worth $1200, it is indeed huge effect on the market.
This data was from Coinbase, so tomorrow we can may expect like this

https://twitter.com/DocumentingBTC/status/1370486829019959301?s=19

Btw, the previous $1200 stimulus check is now worth $10,296.
Almost around +700% already.
Check here: https://www.bitcoinstimulus.net/

DarkIT

sr. member

Activity: 1176

Merit: 252

Quote from: Sterbens on March 11, 2021, 08:56:56 AM

So what decision does the democrat petition make when it comes to opposing and scoffing at bitcoin? I said he was starting to fear his popularity waning. this is what we hoped for, and the president made the right decision for bitcoiners in America. so that growth continues to increase and return to a better direction as before the pandemic.

If the president made a bitcoin a legal tender in all perspect. The price of bitcoin will reach of 100k$ soon. If the economic growth happened, it will reflect in the bitcoin investment. Likewise if the bitcoin investment had increased, it will increase the money in the hands of people. This lead to further demand of the products in the market.

Gozie51

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Vave.com - Crypto Casino

Quote from: doctor877 on March 11, 2021, 10:02:00 AM

the two aspects are very important for any trader. while TA shows your skill and trading prowess, FA is simply effortless because all you need to do i to get the legit news that could have massive effect on the price and you get in as soon as possible. the covid relief just a little part of it. we have many institutions that can more than this. this is more better because it bring other people of their kind.

The two are needed. You understand one and the other is capable to draw you down . FA is a little difficult because news can fail you. Most traders find it very difficult to follow as news source are difficult to identify.

Quote from: Sterbens on March 11, 2021, 08:56:56 AM

So what decision does the democrat petition make when it comes to opposing and scoffing at bitcoin? I said he was starting to fear his popularity waning. this is what we hoped for, and the president made the right decision for bitcoiners in America. so that growth continues to increase and return to a better direction as before the pandemic.

What growth you mean? Economic or bitcoin growth? Economic growth can be better with vaccination currently going on and that means soon full economic activities will commence and money pumped into the system will start yielding dividend but for bitcoin growth, bitcoin is better now than before covid-19 pandemic.

Kong Hey Pakboy

member

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Merit: 68

Quote from: slaman29 on March 12, 2021, 01:17:55 AM

I thought that the past few stimulus packages were just a coincidence in terms of when they were announced and when Bitcoin started rising but I guess it's really true now. Biden's package is even more enormous though and Bitcoin still struggling to hit ATH again so maybe the effect can't be sustained this time, who knows?

It is not a coincidence that it did hit ATH when the stimulus were distributed, with a lot of influencers on the Internet shilling that they should put their stimulus in bitcoin, then it is no brainer that the prices spiked at those times. I agree that we should keep up with the trends but we have to also consider that we need a life outside speculating bitcoin.

Cherylstar86

sr. member

Activity: 1484

Merit: 253

Quote from: slaman29 on March 12, 2021, 01:17:55 AM

I thought that the past few stimulus packages were just a coincidence in terms of when they were announced and when Bitcoin started rising but I guess it's really true now. Biden's package is even more enormous though and Bitcoin still struggling to hit ATH again so maybe the effect can't be sustained this time, who knows?

I don't care if it won't hit that next wave of ATH, and It would make me fortunate once price will go back to the most cheaper one. That sounds strange, but when time comes for whales to withdraw their funds and be used for other more significant purpose. Bitcoin tends to go back to where it was, this bullrun was just temporary so we should be careful and smart enough on that day of declining market.

cryptomaniac_xxx

hero member

Activity: 1344

Merit: 540

Quote from: mr_ROBOTT on March 11, 2021, 06:47:46 AM

and we will definitely make a strong move from March 14 , when this package will be approved by the US President,we will see cryptocurrencies in the market.But until then, we will definitely see minor improvements in the market, which will happen to have a positive effect on the subsequent movement of the market.

Right, just look at the charts.

https://twitter.com/btc_archive/status/1369964886126657537?s=21

So we will see if the latest stimulus package will spike the price of bitcoin again. $80k-$100k soon?

electronicash

legendary

Activity: 3178

Merit: 1054

we can expect a spike in price then by march 14. we could break that $60k with this $1.9T. they are giving more than they could really afford, they know the effect of it but they do it. nice desirable dollar.

Quote from: slaman29 on March 12, 2021, 01:17:55 AM

I thought that the past few stimulus packages were just a coincidence in terms of when they were announced and when Bitcoin started rising but I guess it's really true now. Biden's package is even more enormous though and Bitcoin still struggling to hit ATH again so maybe the effect can't be sustained this time, who knows?

so enormous that it sounds like they are purposely giving thousands of USD to everyone so people can buy more BTC for themselves. it still is a good idea.

pooya87

legendary

Activity: 3472

Merit: 10611

News like this are only going to affect the price in short term and in a small amount, however they can also act as a catalyst that could help price get over a certain resistance a little bit faster. For example we had the Elon Musk hype recently that helped breaking a resistance that would have been broken but at a slower speed. $60k resistance right now is the same exact thing, price is headed that way and it will be broken in two weeks or so but with this news it may happen in less than a week.

Then we have the long term effects of certain types of action (regardless of the news and short term hype). In this case the action is printing a lot more US dollar that would increase the inflation of it and decrease its value and also push more people into thinking about buying bitcoin with their depreciating fiat.

slaman29

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Livecasino, 20% cashback, no fuss payouts.

I thought that the past few stimulus packages were just a coincidence in terms of when they were announced and when Bitcoin started rising but I guess it's really true now. Biden's package is even more enormous though and Bitcoin still struggling to hit ATH again so maybe the effect can't be sustained this time, who knows?

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: franky1 on March 11, 2021, 04:56:29 PM

the amount of people deciding to throw their government cheque into buying bitcoin can affect the price. but these things just cause small temporary hype spike/dip drama in the price.
last summers stimulus only created a 10/20% speculation price effect.. where as elon musks 50k coin purchase caused a 300% spike

true technical analysis in shifting mining costs vs price
(choosing to buy rather then mine in low price/high cost period.. 'mine to sell' in high price/low cost periods) has more than a 40% effect

'trending' patterns
general citizen investing $1XX-$1XXXX each onmasse -15% effect
mining pools change of strategy - 50% effect
huge investor investing $XXXXXXXXXX - 300% effect

but hey if you wanna scream to the world to hype up a 15% natural effect to try getting speculation above 20%. you can. but dont expect the 20%+ to hold. so get in-out quick
hype is never sustainable

When we learnt that Elon Musk bought BTC it was trading at mid $30's maybe $35K or so. The low prior to that was $28-29K. So its nowhere near 300%. Not even 100% yet. His purchase did manage to keep price from breaking $28K at least. However look how much sell pressure there must of been for him to actually be able to buy over billions of dollars worth.

The news started a huge rally because it was the richest man buying BTC and people are assuming now that more and more public companies will put BTC on their balance sheet, hence why it broke the last ATH of $42K.

Stimulus cheques will play a big role in the stock market which is correlated with BTC so if stocks go up so will bitcoin.

franky1

legendary

Activity: 4410

Merit: 4766

the amount of people deciding to throw their government cheque into buying bitcoin can affect the price. but these things just cause small temporary hype spike/dip drama in the price.
last summers stimulus only created a 10/20% speculation price effect.. where as elon musks 50k coin purchase caused a 300% spike

true technical analysis in shifting mining costs vs price
(choosing to buy rather then mine in low price/high cost period.. 'mine to sell' in high price/low cost periods) has more than a 40% effect

'trending' patterns
general citizen investing $1XX-$1XXXX each onmasse -15% effect
mining pools change of strategy - 50% effect
huge investor investing $XXXXXXXXXX - 300% effect

but hey if you wanna scream to the world to hype up a 15% natural effect to try getting speculation above 20%. you can. but dont expect the 20%+ to hold. so get in-out quick
hype is never sustainable

tabas

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Activity: 3024

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Just as the usual expectation for the bitcoin's market whenever there's another release of the stimulus, the market pumps. But, even though that it's not yet released.
We've seen bitcoin stepped on again to $57k and that's a very good to see trend while we're waiting for the trend of the market due to that news.

Review Master

sr. member

Activity: 1456

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BitByte Crypto: https://link3.to/bitbytecrypto

Last time, USA prinited money for the 2nd time for the relief and market was taken a small correction and start it's bullish rally again. If history repeats as fundamentals are so much strong which means, bitcoin needs to close its daily candle on the 56k zone to continue the bullish trend , else it might fall back to 53k price zone and than rebound. After that, bitcoin will again pump back to break the 60k to make new ATH. As always, every one of those will again regret for not buying in the 43k-45k price zone.

dothebeats

legendary

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Cashback 15%

At this point I don't think the helicopter money in the US will be able to push bitcoin to new heights. Also, the market isn't 'sensitive' on these events. It may benefit from the said $2 trillion support package but it can still stand without it. I'm pretty sure a lot of the Americans who will receive the package would buy bitcoin as it is the next 'big thing' on their books. Plus, the risk-reward ratio is pretty low right now given that a lot of huge companies are already in the fray.

Obviously, the $2 trillion wouldn't pour into bitcoin alone, but given how the market reacted/played on the last stimulus fund, there will be some huge funds pouring in the market once the aid is released.

chaoscoinz

sr. member

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☆Gaget-Pack☆

Fundamental analysis is very important, it is one of the things I need to work on a little more. I have been putting into a lot of overtime with technical analysis studies on Trading view & Investopedia. I think that it is really the key to having successful trades and investments. One should have a good overall understanding for both types of analysis. I usually frequent coin-desk for the latest up to date news on the crypto economy and scene. A third kind of analysis is market and trading psychology, if you can harness all three of these, you'll possess the Tri-force for success.

fiulpro

hero member

Activity: 1890

Merit: 831

(Taken from google)
Sensitive ? The market is going extremely strong, the minor changes are not even retracing the previous price. There are people who are using their money from the government to invest in bitcoins and guess what ? They are getting a lot. Other than that we have to also remember to not use any app or any predictor for it since at the end of the day the manipulation of these apps cannot be disregarded, the best would be to actually check the price timely. Right now the price is around 56,645 and we saw the highest in few days around Feb 21, touching the 57.5k. I do think we will soon cross the 60k mark. Honestly all those people who were waiting for the market to collapse or to go down should be regretting right now. Plus we have to also consider the institutions which are pouring in the market after Tesla . It's a havoc..but if you hold and wait it would be definately beneficial for you.

doctor877

full member

Activity: 896

Merit: 115

the two aspects are very important for any trader. while TA shows your skill and trading prowess, FA is simply effortless because all you need to do i to get the legit news that could have massive effect on the price and you get in as soon as possible. the covid relief just a little part of it. we have many institutions that can more than this. this is more better because it bring other people of their kind.

Sterbens

sr. member

Activity: 1848

Merit: 341

Duelbits.com

So what decision does the democrat petition make when it comes to opposing and scoffing at bitcoin? I said he was starting to fear his popularity waning. this is what we hoped for, and the president made the right decision for bitcoiners in America. so that growth continues to increase and return to a better direction as before the pandemic.

mr_ROBOTT

member

Activity: 312

Merit: 24

note that the general trend of bitcoin, especially after the approval of the $2 trillion support package in the United States, is extremely sensitive because of the corona:
https://www.cnbc.com/2021/03/06/covid-stimulus-update-senate-passes-1point9-trillion-relief-bill.html

and we will definitely make a strong move from March 14 , when this package will be approved by the US President,we will see cryptocurrencies in the market.But until then, we will definitely see minor improvements in the market, which will happen to have a positive effect on the subsequent movement of the market.

Topic: Keep up with the technical and fundamental trends of the market (Read 201 times)