Technical Analysis: Bitcoin Back to $6000 as Altcoins Stabilize

Seansky

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Quote from: Thecoinsignals on October 26, 2017, 10:22:38 PM

Technical Analysis: Bitcoin Back to $6000 as Altcoins Stabilize
The cryptocurrency segment recovered following yesterday’s dip, but the performance of the major coins has been asymmetric once again...
http://thecoinsignals.com/technical-analysis-bitcoin-back-to-6000-as-altcoins-stabilize-d218.html

Bitcoin is currently sitting at 5700$-5800$ and will probably be stable to the said price ranges in the next few days. For now altcoins are showing sign of recovery and will probably continue until further notice. This season of crypto market has been filled with a lot of actions and will probably continue as adoption grows fast while time pass by. I expect one or more alts to go to the moon by the end of this week, most has been undervalued for long and now is the time for them to show how much momentum they have built up in this past months and I expect btc to go side by side with their movements.

8270thNinja

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Quote from: tokeweed on October 27, 2017, 02:54:18 AM

Quote from: Catmony on October 27, 2017, 02:42:27 AM

I am still expecting huge surge in altcoin price in terms of fiat because most of the alts are undervalued right now as most of the traders are just focusing on bitcoin trading due to two different fork within a month period.

Buying alts at current low price might be wise decision to make quick profit.

I'm with you. BTC/USD seems to have reached it's peak at the moment and looks to 'rest' a bit before continuing the trend to 6k USD and beyond. Been accumulating some XLM/BTC, hopefully that pays off well before BTC/USD moves up again.

Undervalued because traders are just focusing on bitcoin trading with or without the upcoming forks is still happening. BTC rested a bit and just within a day it surge again @5800 $. Buying altcoins would really make a good decision since the price is still low but it soesn't assure that it will make a Good Profit. The answer for that would really show up at the price of BTC on 2018.

Anonylz

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It looks like if bitcoin is recovering, but it has been dumped to $5,600 today, and it is now quiet between $5700 and $5800, there is nothing wrong with it, because we all know that it is going to rise a lot before of the next fork on november, but i thought that i was going to see bitcoin over six thousand dollars before the end of this week.
Anyway, maybe it can happen before sunday, who knows? nobody can predict the market.

MissionPhailed

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Market dominance of Bitcoin has been hovering mostly between 54 and 58% in the last two weeks. Before the spring of 2017, this has always been at least 75%. I think its unlikely we'll ever see those numbers again!

Quote from: Slow death on October 27, 2017, 10:36:26 AM

I wonder how much money many people lost because they invested in the altcoins.

I know a guy who invested 20BTC last summer in Waves, but sold 'em a couple of weeks ago with 12BTC more or less vaporized. These cases indeed shows the altcoin market is a minefield.

PokerDiceMan

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in end year bitcoin price not only back t 6000 dollar
but bitcoin price can incraese very high maybe incraese to 7200 dollar/bitcoin

xypos

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Quote from: Thecoinsignals on October 26, 2017, 10:22:38 PM

Technical Analysis: Bitcoin Back to $6000 as Altcoins Stabilize
The cryptocurrency segment recovered following yesterday’s dip, but the performance of the major coins has been asymmetric once again...
http://thecoinsignals.com/technical-analysis-bitcoin-back-to-6000-as-altcoins-stabilize-d218.html

Right now, bitcoin is still around $200-$300 below the $6k mark as we speak. However by the end of today i think that we definitely have the opportunity to see bitcoin rise up to $6000 again, which in my opinion, is where it belongs.

The reason why it fell from $6000 to sub $6000 in the first place was the fact that bitcoin gold was priced in and the value was essentially taken away from bitcoin.

But now that they are independent coins, i think that we could see another bull round for btc.

Casmania

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Quote from: tokeweed on October 27, 2017, 02:54:18 AM

Quote from: Catmony on October 27, 2017, 02:42:27 AM

I am still expecting huge surge in altcoin price in terms of fiat because most of the alts are undervalued right now as most of the traders are just focusing on bitcoin trading due to two different fork within a month period.

Buying alts at current low price might be wise decision to make quick profit.

I'm with you. BTC/USD seems to have reached it's peak at the moment and looks to 'rest' a bit before continuing the trend to 6k USD and beyond. Been accumulating some XLM/BTC, hopefully that pays off well before BTC/USD moves up again.

I also agree that both of them were now into unbreakable marks on price and this will be possible to hit the peak of its price soon. Although bitcoin is at promising stage, still there were many investors not selling their alts because they bare in mind the surge that will happen on alts price to become also successful on trades. Well that's a mindset of long term thinker, which eventually set aside their fears and do positive visions.

FrozenChaos

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Quote from: GreatOrchid on October 27, 2017, 03:13:27 PM

I dont understand those people who buy altcoins directly with their bitcoins, they are never going to recover it, bitcoin has been increasing so much faster than altcoins, and btc price will always going to go down, and it makes you always lose your bitcoin's value on those altcoins.
That is why i prefer to buy them directly with Tether, you are buying in USD, if you want to sell, you are in profit.
regarding to op's question, bitcoin is falling, it is below $5750 right now.

...most alts aren't priced in tether.

European Central Bank

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Quote from: tomahawk9 on October 27, 2017, 04:04:44 PM

in simple words: ETH, like any other cryptocurrency, is volatile, so the price can go up/down anytime, right? so, if you bought ETH right now @ 295$, and next month the price goes up to 500$ or more, then that's considered a great buy.

you're making that sound like a breeze. eth was 10 bucks and less at the start of the year. 10 bucks to 20 doesn't take much momentum or money when you compare it to 300 to 500.

these aren't fictional numbers. they require a bunch of money to be committed. i don't see where that much money will come from for modest gains with outsize risk.

tomahawk9

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Quote from: Catmony on October 27, 2017, 02:42:27 AM

I am still expecting huge surge in altcoin price in terms of fiat because most of the alts are undervalued right now as most of the traders are just focusing on bitcoin trading due to two different fork within a month period.

Buying alts at current low price might be wise decision to make quick profit.

Actually, altcoins have been increasing its prices over the past 2 or 3 days. Last monday, almost every single altcoin took a massive dip in the price, ETH, XMR, NEO, Dash, etc, all of them were at the bottom, but they've been recovering at a slow pace. Nevertheless, most of the altcoins are quite cheap right now so yeah, so this is the moment to make some short-term profits.

Quote from: European Central Bank on October 27, 2017, 03:16:44 PM

can anyone tell me why these current prices are low? at the start of the year most of them were a literal fraction of what they are now and nothing much has changed apart from an ico bubble.

i don't see how a several hundred dollar eth can be considered a great buy.

in simple words: ETH, like any other cryptocurrency, is volatile, so the price can go up/down anytime, right? so, if you bought ETH right now @ 295$, and next month the price goes up to 500$ or more, then that's considered a great buy.

European Central Bank

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Quote from: Catmony on October 27, 2017, 02:42:27 AM

Buying alts at current low price might be wise decision to make quick profit.

can anyone tell me why these current prices are low? at the start of the year most of them were a literal fraction of what they are now and nothing much has changed apart from an ico bubble.

i don't see how a several hundred dollar eth can be considered a great buy.

GreatOrchid

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I dont understand those people who buy altcoins directly with their bitcoins, they are never going to recover it, bitcoin has been increasing so much faster than altcoins, and btc price will always going to go down, and it makes you always lose your bitcoin's value on those altcoins.
That is why i prefer to buy them directly with Tether, you are buying in USD, if you want to sell, you are in profit.
regarding to op's question, bitcoin is falling, it is below $5750 right now.

malikusama

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Quote from: Catmony on October 27, 2017, 02:42:27 AM

I am still expecting huge surge in altcoin price in terms of fiat because most of the alts are undervalued right now as most of the traders are just focusing on bitcoin trading due to two different fork within a month period.

Buying alts at current low price might be wise decision to make quick profit.

I am observing the same thing, soon big traders are going to put their investment in altcoins after this month and we will going to see a rise in altcoins price. Indeed it is a great idea to invest in altcoins currently having low prices.

jackhdt

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Quote from: Thecoinsignals on October 26, 2017, 10:22:38 PM

Technical Analysis: Bitcoin Back to $6000 as Altcoins Stabilize
The cryptocurrency segment recovered following yesterday’s dip, but the performance of the major coins has been asymmetric once again...
http://thecoinsignals.com/technical-analysis-bitcoin-back-to-6000-as-altcoins-stabilize-d218.html

Influence of the fact, the price Altcoin be affected too large by Bitcoin. The price is a temporary respite before the fluctuations of separation. I believe that prices will rebound after Segwit2x done. This is a good time to swap between Bitcoin and Altcoin. You can earn a great bargain if you choose the right Altcoin.

DaMut

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Based on our trend, seems like we will not see the party at this moment.
Because we did not see the pump even once and the only thing that we got for the past few days was recovery.which mean there will be another movement that will cause a huge rise or down in Bitcoin price.
This movement looked like a few years ago when altcoin moved downward and most of it underwater,none of them pumped by people and after a year slumber the price rise significantly every mid newyear.

Slow death

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I wonder how much money many people lost because they invested in the altcoins.

for example in June many altcoins had a very high price. siacoin for example was worth more than 600 satoshi and today it is worth less than 100 satoshi.

lisk is another case, at 1 months atraz lisk was worth more than 0.0014BTC and today it fell back to less than 0.001BTC, Neo is another that fell a lot.

invest in altcoins is something very dangerous.

Yours technical analysis on bitcoin only shows a pessimistic scenario

1Referee

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Quote from: Catmony on October 27, 2017, 02:42:27 AM

I am still expecting huge surge in altcoin price in terms of fiat because most of the alts are undervalued right now as most of the traders are just focusing on bitcoin trading due to two different fork within a month period.

Buying alts at current low price might be wise decision to make quick profit.

Most of the alts are undervalued? That's not true. Instead, even while people may still believe that they are undervalued, they are the exact opposite -> overvalued. If we look at the altcoin market, then there are just a few coins (for the Ether fan boys, this coin definitely not) that can be put in the category of undervalued coins. The majority of the more popular coins are just hype based with no real purpose behind them, and for that reason, shouldn't have any sort of value above the $100 level. Even $100 is on the higher side, but with the sheer number of people being involved in these coins, it creates a certan form of demand that would 'justify' these markets to at least stay up higher than usual. It's the power of the mass, definitely not something to underestimate.

Kemarit

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Quote from: Catmony on October 27, 2017, 02:42:27 AM

I am still expecting huge surge in altcoin price in terms of fiat because most of the alts are undervalued right now as most of the traders are just focusing on bitcoin trading due to two different fork within a month period.

Buying alts at current low price might be wise decision to make quick profit.

Looks like alt market is currently down. Would like to buy in those dips, only worth noting is ETH which has at least on the positive and green today, but most of them are in red. Good for shorting in a couple of days. Well the fork is still in November so I'm expecting that in about a week we are going to see altcoin bleeding again as most investors shifting back to bitcoin to get another free coins. So as far as altcoin though, its really good to buy today up until the fork next month because I sure almost all of them are in a very very discounted price. But now and once the November fork completes the price of altcoin will pick up allowing you to sell for a good returns.

tokeweed

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Quote from: Catmony on October 27, 2017, 02:42:27 AM

I am still expecting huge surge in altcoin price in terms of fiat because most of the alts are undervalued right now as most of the traders are just focusing on bitcoin trading due to two different fork within a month period.

Buying alts at current low price might be wise decision to make quick profit.

I'm with you. BTC/USD seems to have reached it's peak at the moment and looks to 'rest' a bit before continuing the trend to 6k USD and beyond. Been accumulating some XLM/BTC, hopefully that pays off well before BTC/USD moves up again.

Catmony

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I am still expecting huge surge in altcoin price in terms of fiat because most of the alts are undervalued right now as most of the traders are just focusing on bitcoin trading due to two different fork within a month period.

Buying alts at current low price might be wise decision to make quick profit.

Topic: Technical Analysis: Bitcoin Back to $6000 as Altcoins Stabilize (Read 557 times)