Market volume rebounded above $ 340 billion

bobo012

sr. member

Activity: 714

Merit: 257

Quote from: jadenunderhill on June 11, 2018, 03:43:58 AM

The bubble is bursting. A normal process. Correction will be proceeding futher.

Great bubble we have in bitcoin, lol. One hundred billion dollar bubble? Yes, there is a lot of bubbles like EOS and IOTA and many more that have unjustified market caps, but a gold class asset like bitcoin is nothing at 100 billion. It is just a hilarious amount of money in the grand scheme of things. It is either worthless or must be at least a trillion in market cap. And i am speaking about bitcoin, not the shitcoins. Beside a few exceptions there is a lot of garbage, and they are a bubble, as you have noticed.

timerland

hero member

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Merit: 596

Nope. Apart from the fact that we just saw some temporary upward adjustments in price, there are simply no major trend reversals possible at this stage when we're still in the consolidation phase. A recovery is highly unlikely, until at least the end of the year.

What you saw a few days back with a small rally was obviously something that was extremely short term, as demonstrated by the dip that followed.

I think that the bear market will ensue for at least 6 more months, as I said. The run up last year was enormous, and it takes time for markets to go into recovery, and this is obviously not the time right now.

BTW, total crypto market cap isn't something that you should be using to analyze bitcoin. The two are simply not the same.

BitNaija

member

Activity: 322

Merit: 10

Any time the price drops, panic run down spines of people. There is one word I keep hearing, 'correction'. It simply mean the price is not normal. And this can be true because bitcoin has increased over 200,000% above ICO price. My question has been, for a commodity that have appreciated this much, are we still expecting further price appreciation as most people are expecting it?

mOgliE

legendary

Activity: 1344

Merit: 1251

I think current price is a great answer xD

BTC is going down and it's not going to stop right now...

Koadharber

hero member

Activity: 1065

Merit: 510

Quote from: davis196 on June 11, 2018, 06:44:54 AM

Bitcoin doesn`t need to "recover".The price is just fine.Relax and stop waiting every day for that moment,when bitcoin will hit the moon.This will happen for sure,but it won`t be this year or next year.
I think that the big price gorwth will occur after the 2020 halving.
I don`t care that much about the total crypto market cap.

Sometimes watching the price of bitcoin or on other coins or even on the entire cap would definitely put some stess on ourselves and thats why people do name other names on what they can able to called on the current situation. Either a bubble, dump, scam etc. Recovery does happen and same as being said no one really knows on when and basing on the current movement of the market it wont really happen anytime soon.

DanielJacob

newbie

Activity: 112

Merit: 0

From various countries and institutions the explanations for cryptocurrencies continued. Its confirmed that the volume of the market rose over 340 billion. So it can be said that the bitcoin is recovering slowly.

PaulTrace

newbie

Activity: 61

Merit: 0

I am also thinking so see the index. Bitcoin can move slowly to rise. In last month it was thought that btc price may rise by end June. And we are standing here now.

mktpromp

newbie

Activity: 294

Merit: 0

Yes, maybe the market is slowly healing. After the long and tormenting bear market, now the investors are seeing a ray of light. May be the prices will rise up high again.

samiraetn

newbie

Activity: 224

Merit: 0

BTC is the one of the best crypto currency in the world based on this it gives highest amount of profit so in market many coins are infected for price based on this some coins recover but btc is also increasing and this not slowly because after few days later it will be increase very fast.

Dreamchaser21

full member

Activity: 686

Merit: 108

Quote from: jadenunderhill on June 11, 2018, 03:43:58 AM

The bubble is bursting. A normal process. Correction will be proceeding futher.

Better to called this a correction than bubble because it makes people on panic instead of focusing on their fundamental growth.
Cryptocurrency may dump again but I think bull run will still coming this year, and I know cryptocurrency can survive. Recovery will happen but the real question is when? so be patient.

davis196

hero member

Activity: 3164

Merit: 937

Bitcoin doesn`t need to "recover".The price is just fine.Relax and stop waiting every day for that moment,when bitcoin will hit the moon.This will happen for sure,but it won`t be this year or next year.
I think that the big price gorwth will occur after the 2020 halving.
I don`t care that much about the total crypto market cap.

jadenunderhill

full member

Activity: 293

Merit: 109

The bubble is bursting. A normal process. Correction will be proceeding futher.

magneto

hero member

Activity: 1666

Merit: 753

You mean market capitalisation, right?

Because I haven't seen the volume of the entire crypto market, let alone bitcoin, ever above $100 billion per day.

But to answer your question, no, I don't think that the recovery is starting yet. Market sentiment is obviously leaning drastically to the bearish end still, and I don't really see this changing in the next few months at least. More likely than not, we'll see some more dips come our way and see BTC market cap momentarily dip below $100 billion before the recovery comes. There may be small rallies along the way, but they aren't going to be long lasting generally speaking.

greenvally

newbie

Activity: 252

Merit: 0

It's true in recent time bitcoins price is not up to the mark. But we all know bitcoin is the best crypto currency in the worlds. One think we must be remember price fluctuation is a common character of this market. I think in recent times bitcoin will reach their goal.

ynclksnr321

member

Activity: 280

Merit: 10

While the explanations for the cryptocurrencies from various countries and institutions continued, the market volume again rose to over $ 340 billion. Do you think bitcoin is starting to recover slowly?

Topic: Market volume rebounded above $ 340 billion (Read 143 times)