start another one (Bitcoin price increase)

androyster

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Quote from: Smartvirus on February 09, 2021, 02:47:34 PM

I don't really see it that way to be bearish or bullish. Its at a consolidation zone to me and we would see price play around this zone for a long time before taking any direction. So, if your investing at this point, you've got to do that wisely knowing that anything can happen. The market movers could be playing a trick here and some investors are bound to make some investments that they aren't going to profit from, its normal. I'm still surprised at the current moves though.

Then why would Musk buy 1.5B at near the high point? I think this goes beyond market movers playing tricks.

Baofeng

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Quote from: Daryl_Dixon on February 09, 2021, 12:04:02 PM

The market is always bearish and bearish by the hour of activity of the markets of the Gorye countries of Southeast Asia.
If the beat of this clock (4 to 9 pm) passes, it is possible that it will start another one even tonight.
Also, be aware of Chinese New Year, which is February 12 and is usually a bear market.

That has been the description that every Chinese New Year will be see a sell-off. When are people going to understand that these kind of events are just coincidence? Whether what holidays we are going to see, there could be someone selling because they want to celebrate, but on the opposite side of the coin, there could be also people 'anticipating' a sell off so they are waiting for it. So it just evens out the playing field. And so far we haven't seen any drastic price movement. And on the contrary we surpasses another all time high, and bitcoin is still on the $47k-$48k.

senyorito123

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Quote from: Daryl_Dixon on February 09, 2021, 12:04:02 PM

The market is always bearish and bearish by the hour of activity of the markets of the Gorye countries of Southeast Asia.
If the beat of this clock (4 to 9 pm) passes, it is possible that it will start another one even tonight.
Also, be aware of Chinese New Year, which is February 12 and is usually a bear market.

This is what I am waiting for after Chinese new year, bearish market will turn down heads, since huge dump will be expected. I am looking forward to that scenario and if that happens? Bigger opportunities come and I would able to purchase bitcoin at some cheaper percentage breaks. Also with other assets, it always matters on possible purchase for some potential altcoins to decline.

franky1

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bitcoins base value(bottomline wall of resistance) is about $21k
bitcoins price is $48k+

thats $27k of speculation bubble:over 200%

with the tesla push on speculation bubble. then the 'americas oldest bank' push
the speculation is pretty much at its limit of bubbling before it appears as too high and people start selling to claim their profits.

with china new year approaching. i can see no big reason to call a fresh bull. and more signs of a bear approaching

any new big news speculation will just end up trying to keep a certain level of bubble. and not used to double the current bubble

masterzino

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Quote from: Daryl_Dixon on February 09, 2021, 12:04:02 PM

The market is always bearish and bearish by the hour of activity of the markets of the Gorye countries of Southeast Asia.
If the beat of this clock (4 to 9 pm) passes, it is possible that it will start another one even tonight.
Also, be aware of Chinese New Year, which is February 12 and is usually a bear market.

The Chinese New Year cycle is broken after yesterday news of MasterCard planned crypto integration until the end of the year and that BNY Mellon will custody Bitcoin.

I expect a quiet CNY without big swings this time.

barbara44

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Quote from: Daryl_Dixon on February 09, 2021, 12:04:02 PM

The market is always bearish and bearish by the hour of activity of the markets of the Gorye countries of Southeast Asia.
If the beat of this clock (4 to 9 pm) passes, it is possible that it will start another one even tonight.
Also, be aware of Chinese New Year, which is February 12 and is usually a bear market.

I don’t know about that, but I have looked forward to the price dropping since January just as some people have said before, but it never happened and that’s when I believed that there will be further increase in the price and that is what has been happening right now, the next question is whether it’s going to continue through out this year or will it stop?

I have checked around afternoon today in my location and the price is over 47,000 USD, does that mean that 50,000 USD is the next thing on the line? Many people have even predicting prices that are more than that and some of them seem ridiculous.

Smartvirus

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I don't really see it that way to be bearish or bullish. Its at a consolidation zone to me and we would see price play around this zone for a long time before taking any direction. So, if your investing at this point, you've got to do that wisely knowing that anything can happen. The market movers could be playing a trick here and some investors are bound to make some investments that they aren't going to profit from, its normal. I'm still surprised at the current moves though.

jossiel

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Why people still say that it's bearish while in fact, that bitcoin's price is rising? With a $1000 decrease means already a bear to you?

I've seen this kind of sentiment even when bitcoin plunged to $28k-$29k but still, that's not the sign of it being bearish. Don't look at the hour charts but if you're a day trader/scalp trader then you really have to rely on it.

But with all means of the dump and what bitcoin shows lately, I don't see it as a bearish. Whether it will dump back to $30k, I still don't consider that bearish knowingly that I've been happily seeing it surpass $20k and upwards.

DarkDays

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Quote from: Daryl_Dixon on February 09, 2021, 12:04:02 PM

Also, be aware of Chinese New Year, which is February 12 and is usually a bear market.

I have heard about the Chinese New Year being notoriously the time when all markets crush, but I wonder if this is really true. The markets go up and down within moments so it might just be a direct attribution to this celebration.

This year, however, will try to verify this. But so far it seems that anything can happen, especially to the BTC market.

Gozie51

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But with surprise, bitcoin price has not shown any sign of such drop with 3 or 4 days more to go for the Chinese new year. The bitcoin price rather kept flying higher and defying many previous and negative expectation, price is currently at $46,457 and with more bullish move on sight, this year may be different with the Chinese new year. This is around 7 months after halving too, things maybe different.

These are below some of the reasons attributed to why things may be different this time around:

INSTITUTIONAL TRADERS COMING IN

Quote

This year’s market has been very different from the past years’ and we are seeing very limited impact from [Chinese] retail traders’ behaviors” such as cashing out, mining pool F2Pool’s co-founder, Shixing “Discus Fish” Mao, told CoinDesk. “The current market is driven by institutional money and it moves with the emotions of these Western institutions. We cannot simply come to any conclusions on [bitcoin’s] price’s trend based on retailers’ behaviors.

COVID-19 REMAIN'S A WILD CARD

Quote

Even though the coronavirus pandemic is being treated as if it were well under control in China compared with most Western countries, a new number of cases in the past month has led the Chinese government to put more restrictions on traveling around the holiday time in the country.

CHINA'S CRACKDOWN ON OTC DESKS

Quote

China’s crackdown on the over-the-counter (OTC) service is another potential reason fewer people are cashing out ahead of New Year’s, said people who are familiar with the matter.

The Chinese new year sell off may not happen

Daryl_Dixon

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The market is always bearish and bearish by the hour of activity of the markets of the Gorye countries of Southeast Asia.
If the beat of this clock (4 to 9 pm) passes, it is possible that it will start another one even tonight.
Also, be aware of Chinese New Year, which is February 12 and is usually a bear market.

Topic: start another one (Bitcoin price increase) (Read 147 times)