I'm reluctant to quote BrianH's post for fear that it'll get deleted, but he could be right that this is a so-called "dead cat bounce".
And whether or not it is a case of that, it's way too early to know if there's a trend forming, nor has there been enough of a recovery to state with confidence that bitcoin is out of the woods yet--it's only at $37k right now, and that's quite a ways away from its ATH of $65k. Maybe traders got a little too excited; maybe there was too much stimulus money; maybe people had far too much time on their hands and started dabbling in the crypto market--those are all reasons why bitcoin shot up as high and as quick as it did. Perhaps $37k is where it should have been all along.
Not to mention that bitcoin was at $9k just one year ago. That should give you some perspective, and if you keep that in mind then where it's at now isn't too bad. Hopefully it won't drop back to $9k; if it did, then you could confidently call a bear market.
Topic: We exited the bear market earler than expected - page 7. (Read 1075 times)
We exited the bear market earlier than everyone expected.
The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.
Let's just hope that you're right that we are already out from the bear market and it only took 3 weeks instead of a long time hibernation. The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.
If this is really the end of a season theen should we expect another ATH record for this year?
We cannot control the market if bitcoin continues to drop but isn't it's a good opportunity for newly investors to see bitcoin reaches another dip? The more bitcoin will go down, the higher the chances it will surge into a new ATH once this bear season is over.
We exited the bear market earlier than everyone expected.
The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.
Let's just hope that you're right that we are already out from the bear market and it only took 3 weeks instead of a long time hibernation.The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.
If this is really the end of Bear season then should we expect another ATH record for this year?
It is hard to say what is going to happen this year. The bear market happened very suddenly and was unexpected to many of us, the same could happen to recovery. But usually after a bear market we saw some time of constant prices in the bitcoin market with only low volatility. I would be very surprised if it just rises back to the ATH now.
I feel like we are going down on volume and that may mean that we are getting closer to higher volatility in a daily move but less in the grand scheme of things. Like for example bitcoin moving between 30k and 35k in a day or moving from 35k to 40k in a day but it is not going above 50k and it is not going under 20k which let's be honest could have been expected the way we moved previously.This is why I think it is quite good to realize we are doing fine but realize those daily huge movements we may have in the end is not because of any movement to any direction as a set movement but more like about low volume and that's it there is really nothing to worry about the daily changes for now.
If we actually entered into the bear market then we are still a long way to go, all the FUDs brought the bear market earlier than expected in my opinion. If we look at the daily candles then there is clearly a decline in the market for the past 3 or 4 weeks which represents the downtrend but the bear market can be only recognized in the long term and precisely only after it happened.
I'm sorry to say this but another Elon's tweet helped a small recovery recently. This isn't good, the market needs to forget about following influencers, this doesn't help on the long run.
For what it's worth I'd have expected a lower price right now and I could have been happy about it: I'm stacking furiously at these levels.
For what it's worth I'd have expected a lower price right now and I could have been happy about it: I'm stacking furiously at these levels.
Elon Musk’s influence over the market, and its participants, will slowly go in due time. There was John McAfee before him, and before McAfee, there was Roger Ver. If in doubt, ZOOM OUT. No one truly had an influence over Bitcoin’s price. It’s simply on its own in a path of price discovery.
I'm sorry to say this but another Elon's tweet helped a small recovery recently. This isn't good, the market needs to forget about following influencers, this doesn't help on the long run.
For what it's worth I'd have expected a lower price right now and I could have been happy about it: I'm stacking furiously at these levels.
The market will have a hard time forgetting influnecers, they have the user base that follows what ever they say so we can't do much about that. Also, instead of getting rid of them, I think the best thing that we can do is to use it to our advantage. For what it's worth I'd have expected a lower price right now and I could have been happy about it: I'm stacking furiously at these levels.
I personally think that this bear market is good chance for me to buy more bitcoin. I am not sure that I can use forecasting technique for this time because this situation itself is unpredictable. But my instinct said that bitcoin price can go down lower than 30k. There are some little bounce but bitcoin price still tend to go down. Now I have to give extra attention to the price chart.
We exited the bear market earlier than everyone expected.
The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.
The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.
So it seem, the Elon Fud helps hasten the bear market faster than the expected time, and to me has the most impacts than even the China fud, we are already use to China banning and unbanned crypto almost every year, but Elon tweet about btc mining sure hit a nerve and made many people panic sell, it wasn't the familiar kind of fud that's it shook the market.
I'm sorry to say this but another Elon's tweet helped a small recovery recently. This isn't good, the market needs to forget about following influencers, this doesn't help on the long run.
For what it's worth I'd have expected a lower price right now and I could have been happy about it: I'm stacking furiously at these levels.
For what it's worth I'd have expected a lower price right now and I could have been happy about it: I'm stacking furiously at these levels.
If people will continuously follow what he do for sure we will have no healthy market movement, its time to forget Elon Musk by now since his intentions has been exposed already and he doesn't care on adopting bitcoins, his main intention is only to gain from it and to boost up the popularity of tesla. We already done with Mcafee so hopefully it will be the same with Musk to.
I'm sorry to say this but another Elon's tweet helped a small recovery recently. This isn't good, the market needs to forget about following influencers, this doesn't help on the long run.
For what it's worth I'd have expected a lower price right now and I could have been happy about it: I'm stacking furiously at these levels.
For what it's worth I'd have expected a lower price right now and I could have been happy about it: I'm stacking furiously at these levels.
We exited the bear market earlier than everyone expected.
Not sure about exited - I don't even think we entered it.
There has been a huge price surge since the end of last year. I think that the price drops over the last week or so are simply the inevitable correction. Sentiment overall is not bearish, it's just that the higher the prices go, the more people start to get a bit twitchy, and eager to sell at the first sign of trouble... which of course has a snowball effect.
But look at the charts over a long time frame, switch to log scale to get more perspective... and it doesn't look bearish at all.
According to old data, bitcoin will probably hit $100k before joining the bearish cycle
We exited the bear market earlier than everyone expected.
Not sure about exited - I don't even think we entered it.
It happened so fast that you didn’t feel it. Hahaha.
Because Bitcoin did three years worth of a bear cycle in three weeks. It’s less if you don’t count the first two weeks because everyone was still “bullish”.
I am still in doubt here we have seen this before what if it is like what happen in 2018?
Were it has been dropping and bouncing back a little until it reach so low?
But I don't want to ruined the celebration and enjoy the moment so cheers to all of us.
Were it has been dropping and bouncing back a little until it reach so low?
But I don't want to ruined the celebration and enjoy the moment so cheers to all of us.
Wouldn't expect much from the sudden increase tbh. It's most likely just traders who took advantage of the dump to buy since the price dropped, and then resell again shortly after the market goes up. It's a kind of a short window but can still be taken advantage of nonetheless. If we were out of the market, as others have said, a lot of people would have honestly bought and rose the price to at least $40k, since it'd been quite obvious by then that more people started buying instead of selling.
Probably a dead cat bounce or a bull trap for me. I believe that we are in a consolidation period for a while and may trade sideways between $32k to $40k range. I also believe that $32k will be the new strong support level.
Here's the reason: https://cointelegraph.com/news/bitcoin-whales-accumulate-122-5k-btc-amid-latest-market-mayhem
These whales have bought massive BTCs when it reached $32k, so I certainly believe that we have already reached the bottom and now going up again. However, market is unpredictable and we should always acknowledge the risks that we are taking. For those who bought the dip and not during the crash, you are now enjoying your profits.
Here's the reason: https://cointelegraph.com/news/bitcoin-whales-accumulate-122-5k-btc-amid-latest-market-mayhem
These whales have bought massive BTCs when it reached $32k, so I certainly believe that we have already reached the bottom and now going up again. However, market is unpredictable and we should always acknowledge the risks that we are taking. For those who bought the dip and not during the crash, you are now enjoying your profits.
We exited the bear market earlier than everyone expected.
For now we can't say for sure if the bearish trend is over since it hasn't made any attempt to retest back it's altime high and until this position is broken and a new trend begins from there we still have a bear market.Quote
The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.
We exited the bear market earlier than everyone expected.
The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.
The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.
It is hard to say what is going to happen this year. The bear market happened very suddenly and was unexpected to many of us, the same could happen to recovery. But usually after a bear market we saw some time of constant prices in the bitcoin market with only low volatility. I would be very surprised if it just rises back to the ATH now.
It certainly seems so, I thought there would be a bigger dip, but the prices kinda started to pump up again lmao, well, for good I guess, I have bought a couple of crypto during the dip so I wouldn't regret later I thought, was planning to buy more after it falls a bit more 
, but that didn't happen (luckily or unluckily) I guess, it was/is a fun ride nonetheless.
, but that didn't happen (luckily or unluckily) I guess, it was/is a fun ride nonetheless.
It proves that we were not flogging a dead horse!!!!
People will never understand the grim reality of bitcoin and how it works. Most of the people are into bitcoin are just here to make money in traditional ways. They don’t understand how it works and how it behaves. They are just like panic holders and fomo investors.
Very disturbing to the market and for long term hodler like us.
People will never understand the grim reality of bitcoin and how it works. Most of the people are into bitcoin are just here to make money in traditional ways. They don’t understand how it works and how it behaves. They are just like panic holders and fomo investors.
Very disturbing to the market and for long term hodler like us.
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