Why do speculators became so bullish with just a short time high price - page 2.

Wexnident

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Quote from: Odusko on November 05, 2024, 04:18:29 PM

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I mean in general a LOT of people just look at the current price to judge whether the market is going to be bullish or not, and 70k is a breakpoint that a lot of people are expecting to be the start of a bullish run. To note I don't think it is to be fair, but well here we are at 76k, not that us reaching 70k was the cause though. I reckon the initial pump was because of the Election and Trump winning and anything that followed after was just people hyping it. We're probably going to see a correction next week (unless Trump announces his plans for Bitcoin). At least I'm assuming one's going to happen.

And besides, it's all speculation. It ain't going to hurt you Wink

and in the first place, we all do it ourselves!

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Quote from: JeffBrad12 on November 07, 2024, 08:31:54 PM

Quote from: Odusko on November 07, 2024, 05:13:29 PM

The whole event turn out in favour of bitcoin and the entire cryptocurrency market as the victory for Trump turned out to be a big victory for the entire cryptocurrency market, this is because of his stands, and support towards bitcoin adoption in the US, let hope we can see some flexibility in the government policy as regards to cryptocurrency and other virtual assets and it management.

There have been alot of speculations in the market and for sure the price of bitcoin also have shown alot if positive outlook ever since the announcement of Trump as the winner of the election, this is a major significant shift in the price of bitcoin.

We all saw how bitcoin made new all time high price benchmark since yesterday and the current market prices of bitcoin which is still at $76,k+ price.

yeah turns out the bullish sentiment is justified and BTC actually get a new All time high, this is great Grin

. bitcoin also showing no sign of weakening, probably just trying to sweep its path from liquidity wall all the way through $80k which gonna be great, just imagine we close above $80k this year, i'm sure at the Q1 of next year we might see $100k easily.

We top at $76,943.12 as per coinmarketcap and this is our new all time high for now. But it could be a tough $80,000 moving forward as for sure there could be profit taking here specially for short term traders and this is what the OP is trying to ask. They are speculators and so they will need to be as bullish as they can be and then have a sell order maybe at a new all time high for quick flip.

Quote from: JeffBrad12 on November 07, 2024, 08:31:54 PM

anyone who bought at previous ATH and got fomo'd already be making profit these days, the key is always patience, bitcoin is deflationary and the value will just keep increasing despite the occasional bearish, hopefully the new US regulation will favour crypto more.

That was March if I'm not mistaken, so if they continue to mark a run and buying during the dip when go down to $50,000, then they are really very happy that they stay on the market and was not shaken up with the market had a steep correction from $73,000->$50,000. And this is just the beginning, as we all have been looking at six digits in next year. So we still have time to save more and accumulate and still make a decent profit.

Gozie51

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Quote from: Odusko on November 05, 2024, 04:18:29 PM

Alot of bitcoin market speculators pointed to political atmosphere to be responsible for the current market reaction.

They are not far from the truth. Of course the market reacted based on what was going on in US election on 5th and that followed the analysis of those speculators.

Quote from: Odusko on November 05, 2024, 04:18:29 PM

But for us here we are at a level where our knowledge about bitcoin make us to reason differently that is why I brought this here to know what the opinion of forum members is on this market behaviours.

We don't need to rely on our knowledge alone on Bitcoin at least for the next one year that Trump will be in charge of the economy of US. Moreover, if you listened to the speech of Trump after winning the election, he believe so much on Elon musk and surely Elon will be a very strong member of the team and Trump himself is a lover of innovation and cryptocurrency which Elon is going to be the space leader Grin

. So expect more volatility in the coming months.

Richbased

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Quote from: JeffBrad12 on November 07, 2024, 08:31:54 PM

Quote from: Odusko on November 07, 2024, 05:13:29 PM

The whole event turn out in favour of bitcoin and the entire cryptocurrency market as the victory for Trump turned out to be a big victory for the entire cryptocurrency market, this is because of his stands, and support towards bitcoin adoption in the US, let hope we can see some flexibility in the government policy as regards to cryptocurrency and other virtual assets and it management.

There have been alot of speculations in the market and for sure the price of bitcoin also have shown alot if positive outlook ever since the announcement of Trump as the winner of the election, this is a major significant shift in the price of bitcoin.

We all saw how bitcoin made new all time high price benchmark since yesterday and the current market prices of bitcoin which is still at $76,k+ price.

yeah turns out the bullish sentiment is justified and BTC actually get a new All time high, this is great Grin

. bitcoin also showing no sign of weakening, probably just trying to sweep its path from liquidity wall all the way through $80k which gonna be great, just imagine we close above $80k this year, i'm sure at the Q1 of next year we might see $100k easily

For now the whole atmosphere is bullish since new investors are trooping in the market and more bitcoins are being bought rather than sold. This is literally a time to hodl and not be moved to sell as we should be anticipating more bullish trends that will project the price to achieve more greater ATH soon.

Quote

anyone who bought at previous ATH and got fomo'd already be making profit these days, the key is always patience, bitcoin is deflationary and the value will just keep increasing despite the occasional bearish, hopefully the new US regulation will favour crypto more.

Those who bought during the previous ATH must have made a little profits from their investment in bitcoin but it's not enough to consider selling now that another ATH has been created as the target is for a long term regardless of the ATH it has been able to get to. I believe after the inauguration of Donald Trump, the crypto market will experience incredible growth.

JeffBrad12

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Quote from: Odusko on November 07, 2024, 05:13:29 PM

The whole event turn out in favour of bitcoin and the entire cryptocurrency market as the victory for Trump turned out to be a big victory for the entire cryptocurrency market, this is because of his stands, and support towards bitcoin adoption in the US, let hope we can see some flexibility in the government policy as regards to cryptocurrency and other virtual assets and it management.

There have been alot of speculations in the market and for sure the price of bitcoin also have shown alot if positive outlook ever since the announcement of Trump as the winner of the election, this is a major significant shift in the price of bitcoin.

We all saw how bitcoin made new all time high price benchmark since yesterday and the current market prices of bitcoin which is still at $76,k+ price.

yeah turns out the bullish sentiment is justified and BTC actually get a new All time high, this is great Grin

. bitcoin also showing no sign of weakening, probably just trying to sweep its path from liquidity wall all the way through $80k which gonna be great, just imagine we close above $80k this year, i'm sure at the Q1 of next year we might see $100k easily.

anyone who bought at previous ATH and got fomo'd already be making profit these days, the key is always patience, bitcoin is deflationary and the value will just keep increasing despite the occasional bearish, hopefully the new US regulation will favour crypto more.

Odusko

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Quote from: JeffBrad12 on November 05, 2024, 08:42:46 PM

I think it's pretty normal, people are tensed with the election outcome, they afraid people are selling the news and the market become bearish, the fast reversal from $73.8k to $67k is already bad enough, knowing that somehow the market recovers back to $70k is like a fresh air, no wonder they become bullish.

I mean if we being frank here, these past few months BTC always dumps around the first week of the month and resume the bull later, if this month around bitcoin follow the same routine, this meant an even higher ATH is imminent.

but I think pretty much the reason why so many people are so bullish with this local high is that, it doesn't go below descending channel breakthrough line and bounced right around that.

The whole event turn out in favour of bitcoin and the entire cryptocurrency market as the victory for Trump turned out to be a big victory for the entire cryptocurrency market, this is because of his stands, and support towards bitcoin adoption in the US, let hope we can see some flexibility in the government policy as regards to cryptocurrency and other virtual assets and it management.

There have been alot of speculations in the market and for sure the price of bitcoin also have shown alot if positive outlook ever since the announcement of Trump as the winner of the election, this is a major significant shift in the price of bitcoin.

We all saw how bitcoin made new all time high price benchmark since yesterday and the current market prices of bitcoin which is still at $76,k+ price.

JeffBrad12

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Quote from: Marykeller on November 06, 2024, 08:43:14 AM

However, I believe many speculators will be happy about the sudden increase of Bitcoin from $68k+ $75k within 24 hours. They will be happy about the short-term profits Bitcoin has given them because that's what they only care about short-term profits, not long-term profits, as many of us do here.

to be honest, the current new ATH also paves way for the long term holders, it gives clarification that Bitcoin just gonna breakthrough $80k and it's only matter of time. the recent US election has helped bitcoin to sweep the remaining big liquidity wall around $74k-76k, we will see if bitcoin just gonna resume its rally and breakthrough $80k but I think there will be little retracement first.

in a nutshell this new ATH is not only good for the short term speculator but also for long term investor, so really there's nothing wrong with celebrating this rally.

Franctoshi

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Quote from: Odusko on November 05, 2024, 04:18:29 PM

BTC price:

Today bitcoin touched $70,500+ before correcting back to the current prices, and within this short period that lasted less than 3 hour's, so many bitcoin market speculators became so bullish with they specualtive analysis but their joy was short leaved when bitcoin suddenly slided below 69k and struggled to reclaim that 70k benchmark without any result as at now.

Alot of bitcoin market speculators pointed to political atmosphere to be responsible for the current market reaction.

But for us here we are at a level where our knowledge about bitcoin make us to reason differently that is why I brought this here to know what the opinion of forum members is on this market behaviours.

Looking at the market forces, Fundamentals , Technical and market speculation, these three are the major drivers of the market, The US presidential election played an important role as one of the driving factor which the speculators paid so much attention to lately because of the campaign promises the president election made about the Policies that he will put in place when he gets into the office.

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Quote from: Odusko on November 05, 2024, 04:18:29 PM

BTC price:

Today bitcoin touched $70,500+ before correcting back to the current prices, and within this short period that lasted less than 3 hour's, so many bitcoin market speculators became so bullish with they specualtive analysis but their joy was short leaved when bitcoin suddenly slided below 69k and struggled to reclaim that 70k benchmark without any result as at now.

There are things to draw out from this and one can eventually learn from them, i have some point to list below concerning why things like this happens and what we should expect or do when such occurs.

1. When you're hearing about speculations on bitcoin market moves, then try to pay attention on it and also go ahead to check using different analysis on your chat.

2. The news could have a significant impact on the price, just as we have seen, that the moment the election is in favour of Trump, the market begin to go bullish.

3. Most of the rumors about what we hear were actually the fact about the whole situation, even though there may not be any cognitive reason to back it up to hundred percent.

4. When the bullish trend is about to take place, we may experience being bearish a little before this begins, some would have thought of the market going bearish not knowing its an indication for bullish.

Quote from: Odusko on November 05, 2024, 04:18:29 PM

A lot of bitcoin market speculators pointed to political atmosphere to be responsible for the current market reaction.

Its true, we have already seen the evidence, he won and the market hits all time high.

STT

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A new ATH warrants the hype as we've never traded these prices. There is no volume in the 70k price area or above which often will mean progress higher is without resistance to any buying.

In that respect this is the time for this type of attitude with bullish expectations. I naturally want to trade the highs and buy lower if possible but at times that idea can be a mistake.

First of all with this new ATH I will be looking for confirmation. Roughly speaking that is price action forming support above 69k and ideally above 73k for a full green push upwards.
Generally a bullish move will check levels as it moves higher, we should be trading above a weekly average to remain bullish, not too hard its 70k.

buwaytress

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Quote from: Odusko on November 05, 2024, 04:18:29 PM

But for us here we are at a level where our knowledge about bitcoin make us to reason differently that is why I brought this here to know what the opinion of forum members is on this market behaviours.

We must have been posting on very different forums, then, my friend. I'm of the opinion that most of us here are at a level where we're very much at the same arbitrary reasoning that most retail investors are at. Come in at every different moment of price and we're all more or less yapping the same things outside (yours truly included).

We're really not better than others. And we don't have to be, there's no competition. At least, not here in Speculation sub Wink

BABY SHOES

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Quote from: Marykeller on November 06, 2024, 08:43:14 AM

Quote from: BABY SHOES on November 05, 2024, 10:32:21 PM

Bitcoin set an all-time price record of $75K according to Coinmarketcap data... Shocked

The month of November has been a bull market for the crypto market especially bitcoin reaching its record... this is inseparable from the ongoing US presidential election vote count... According to Polymarket Trump is still ahead in the vote.

As such the reaction to the market is quite large the impact of this election ... some are happy, especially bitcoin investors if this election Trump wins.

Trump won, and Bitcoin reacted positively to it; that's the influence of what good news can do when it enters the crypto market. Many crypto analysts have been speculating for a long that if Trump wins the US election, the market will show a green candlelight. That's what we are seeing right now.

However, I believe many speculators will be happy about the sudden increase of Bitcoin from $68k+ $75k within 24 hours. They will be happy about the short-term profits Bitcoin has given them because that's what they only care about short-term profits, not long-term profits, as many of us do here.

A pretty good short-term gain for those who have already taken profits, this market reaction was quite shocking as bitcoin rose significantly during the vote.
Whether they are short or long term Trump still won ... They expect from this victory, there will be a lot of anxiety if Trump does not win. Grin

Marykeller

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Quote from: BABY SHOES on November 05, 2024, 10:32:21 PM

Bitcoin set an all-time price record of $75K according to Coinmarketcap data... Shocked

The month of November has been a bull market for the crypto market especially bitcoin reaching its record... this is inseparable from the ongoing US presidential election vote count... According to Polymarket Trump is still ahead in the vote.

As such the reaction to the market is quite large the impact of this election ... some are happy, especially bitcoin investors if this election Trump wins.

Trump won, and Bitcoin reacted positively to it; that's the influence of what good news can do when it enters the crypto market. Many crypto analysts have been speculating for a long that if Trump wins the US election, the market will show a green candlelight. That's what we are seeing right now.

However, I believe many speculators will be happy about the sudden increase of Bitcoin from $68k+ $75k within 24 hours. They will be happy about the short-term profits Bitcoin has given them because that's what they only care about short-term profits, not long-term profits, as many of us do here.

Ricardo11

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November is really going to be a bull market start month for bitcoin, today bitcoin set a new ATH above $75K, which is very happy for all bitcoin investors, however we are currently waiting for the final results of the election, hopefully the final The result will be Trump's win, and if Trump's victory is confirmed, there is a high probability that Bitcoin will surpass $90K this year, and we may see Bitcoin go to $150K+ in the next year. Anyway, the electoral victory is leaning towards Trump right now, and Trump is far ahead of Harris. The probability of Trump winning is very high, now let's see what the final result is.

Dave1

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Quote from: BABY SHOES on November 05, 2024, 10:32:21 PM

Bitcoin set an all-time price record of $75K according to Coinmarketcap data... Shocked

The month of November has been a bull market for the crypto market especially bitcoin reaching its record... this is inseparable from the ongoing US presidential election vote count... According to Polymarket Trump is still ahead in the vote.

As such the reaction to the market is quite large the impact of this election ... some are happy, especially bitcoin investors if this election Trump wins.

Yes, and that's what we have been saying all along, that the US election is going to be the biggest catalyst for this bull run. Others might have doubt it because they don't want Trump to win, however, it's hard to stop now, that Trump is leading the election, thus pushing the price to a new all time hihg.

As for the OP's question, it's obvious though, that's why they are called speculators, because they are short term traders and wanted to make a quick profit that's why the are very bullish in short time frame because that's how they make money.

BABY SHOES

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Bitcoin set an all-time price record of $75K according to Coinmarketcap data... Shocked

The month of November has been a bull market for the crypto market especially bitcoin reaching its record... this is inseparable from the ongoing US presidential election vote count... According to Polymarket Trump is still ahead in the vote.

As such the reaction to the market is quite large the impact of this election ... some are happy, especially bitcoin investors if this election Trump wins.

JeffBrad12

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I think it's pretty normal, people are tensed with the election outcome, they afraid people are selling the news and the market become bearish, the fast reversal from $73.8k to $67k is already bad enough, knowing that somehow the market recovers back to $70k is like a fresh air, no wonder they become bullish.

I mean if we being frank here, these past few months BTC always dumps around the first week of the month and resume the bull later, if this month around bitcoin follow the same routine, this meant an even higher ATH is imminent.

but I think pretty much the reason why so many people are so bullish with this local high is that, it doesn't go below descending channel breakthrough line and bounced right around that.

STT

legendary

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The real hype should be for the lowest prices that arent in the spotlight. The highest prices posted are unreliable and frothy, they dont have half as much substance to rely on for actual genuine change to sentiment. BTC can shoot up and lose it again in a day, no point getting worked up over that or you will get tired out and lose patience.

There is a good reason to be positive now and its action thats been built over the last few months despite apparent negatives in that time its been built well enough to challenge these highs and not fall like a rocket out of fuel afterwards. The price is beating 2 day and 12hr averages but current highs are below the weekly average so we have to consider present action as challenged subject to resolve negative while thats true; wait till its regularly proving positive above both weekly and 50 day average.

EL MOHA

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Yes there is no taking away the hype around bitcoin price during this election and I won’t just say it won’t affect it a little bit but it’s somewhat overhype to me as I don’t see it having any significant impact at least not right now, market is experiencing a swing between resistance and supports levels simply because the price is trying to break a resistance which in this situation is the all time high and as such all long positions will have their target Almost hit and short positions getting trigger at this point too. Also there is those who are FoMoing to buy because they expect a bull run soon and their are those selling off maybe their target has been reached too which is not bad either.

Odusko

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BTC price:

Today bitcoin touched $70,500+ before correcting back to the current prices, and within this short period that lasted less than 3 hour's, so many bitcoin market speculators became so bullish with they specualtive analysis but their joy was short leaved when bitcoin suddenly slided below 69k and struggled to reclaim that 70k benchmark without any result as at now.

Alot of bitcoin market speculators pointed to political atmosphere to be responsible for the current market reaction.

But for us here we are at a level where our knowledge about bitcoin make us to reason differently that is why I brought this here to know what the opinion of forum members is on this market behaviours.

Topic: Why do speculators became so bullish with just a short time high price - page 2. (Read 414 times)