Market Update For Aug 5TH - page 2. | Bitcointalksearch.org

Yaunfitda

hero member

Activity: 2870

Merit: 594

Quote from: Oshosondy on August 06, 2024, 05:00:17 AM

Quote from: VicManton on August 05, 2024, 08:26:42 PM

● BTC's main downtrend has begun, and altcoins are generally declining.

What makes you think that the market will continue to fall? What if the support at $50000 would be very strong? What if bitcoin will not decrease further than $48900 that it fell to yesterday? The market may not be bullish for now but also it may not be bearish but ranging within certain price and later become bullish.

I do agree, there is no $50k, for us, on the contrary, it went and go up to $55k, so I guess the market has bounce back from the recent downtrend that we have seen. And it just shows how volatile the market is, as high as $70k in July and then suddenly in the next couple of days, it goes down hard.

But the thing is that it's resilient and so we should be very proud of the investors, as they are not willing to give up the market to the bears and so we have a good bounce already. We are showing strength, it has settled down a bit, and with that, the obvious next attempt is $58k and I think it's very possible this month.

Doan9269

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Quote from: VicManton on August 05, 2024, 08:26:42 PM

● BTC's main downtrend has begun, and altcoins are generally declining.

No any down trend has begun yet, the recent dip was nothing to cause the market go on a downtrend because we are not done yet with the bull season as a post halving season, that is why you could record that as of now, the market is pumping back because the resistance was very strong in going against a market range of $50,000 and below, maybe we should expect for more pumps any time soon than bear on the market because there is more possible indications showing for more bull than bear while we still anticipated to see more of a new all time high in this season than going dip in the market.

Oshosondy

legendary

Activity: 1624

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Gamble responsibly

Quote from: VicManton on August 05, 2024, 08:26:42 PM

● BTC's main downtrend has begun, and altcoins are generally declining.

What makes you think that the market will continue to fall? What if the support at $50000 would be very strong? What if bitcoin will not decrease further than $48900 that it fell to yesterday? The market may not be bullish for now but also it may not be bearish but ranging within certain price and later become bullish.

VicManton

jr. member

Activity: 150

Merit: 4

● BTC's main downtrend has begun, and altcoins are generally declining.

● U.S. stock market crash is pushing for a rate cut in September. Buffett has sold his U.S. stocks for the first time in the recent years.

✏︎ Market Highlights:

✏︎ BTC plunged, weekly chart shows a downward expanding megaphone pattern. The trend is similar to 2019, where the bull market began again six months after the last rate cut. From the July 2019 rate cut to April 2020, and the first rate hike in March 2022. BTC surged significantly six months after the rate cut in March 2020, peaking in November 2021, approximately six months before the rate hike.

✏︎ JUP in the SOL ecosystem is rising. JUP is SOL's DEX, and it has been decided to reduce the number of tokens by 30%.

✏︎ POLITIFI's HARRIS is rising. Both candidates have close winning probabilities, but Harris has a market capitalization of 10 million USDT, while Trump has a market capitalization of 200 million USDT, a 20-fold difference.

Topic: Market Update For Aug 5TH - page 2. (Read 290 times)