Why is bitcoin moving now? - page 2.

aylabadia05

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Quote from: FiveG on August 14, 2023, 10:52:23 PM

Overtime now it seem like bitcoin is lacking direction but from the look of things it has started gaining effectively price direction and this is going to going a long bullishly but am trying to ask why is moving now on the fact that dollar is rising extremely I thought that would affect the demand and supply of bitcoin... Is this the green opportunity for us to buy or is going to return back after a while let me hear from you because have started calling to ask if they should buy base on the current bitcoin progress if is going to last. Do you think the price will continue voraciously by the day?

Talking about Bitcoin is not just about price. Bitcoin has had difficulty moving upwards recently and that does not indicate that fiat currencies like the Dollar are better than Bitcoin.
Bitcoin is used as a transaction tool, but Bitcoin is mostly used as an investment asset. For people who choose Bitcoin as a long-term investment asset, the issue of prices being difficult to move is not a problem because their target is not to expect profits in one year but more than that time.

The number of Bitcoins is clearly 21 million and that will not change. At least up to now the supply continues to circulate, which has almost reached the maximum number of 21 million.
You already understand very well that the number of Bitcoins will not continue to increase like the paper money that is printed every year.
Imagine when the maximum number has been reached. So what are you waiting for while you still have the chance.

fzkto

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Quote from: dansus021 on September 08, 2023, 08:44:15 PM

Quote from: posi on September 08, 2023, 03:10:23 AM

Quote from: Kemarit on September 07, 2023, 10:04:45 PM

I haven't heard about the raise of interest rate this September, but if they did I would agree that it will have a negative effect again on the price.
However, if you look at todays price, it seems that we have overcome $25,000 as we move to $26,300, which is a good sign this month.

I don't remember exactly September or October and the Fed didn't confirm it would raise interest rates, but they said they could continue to raise interest rates because the inflation situation is not really under control. Some recent news also shows that the Fed will not hesitate to continue raising interest rates 1 or 2 times before stopping raising interest rates. If that happens, it will really put pressure on the market and it will be even more difficult for us to recover before the end of the year.

The price has been trading above $26k but I don't consider this a good sign as without any positive news to sustain then a drop will happen at any moment. We need more positive news or bigger movements to be considered positive for bitcoin.

After a quick search on Google that "After two relatively tame Consumer Price Index inflation reports and some evidence that the employment situation may be softening, the Federal Reserve is not expected to raise rates at its September meeting. However, there is still a chance that the Fed raises rates again in 2023" - https://www.forbes.com/sites/simonmoore/2023/08/15/what-to-look-for-from-the-feds-final-meetings-of-2023/

There is still a chance Fed raises in 2023 but we don't know it yet but there is a meeting this month, and the price currently I'm writing is $25.8K so possibly sideaway until there is good news coming.

It seems to me that raising rates is a psychological moment in cryptocurrency. That is, it affects the price indirectly. Bitcoin has a deflationary model, but somehow the real economy has a short-term effect on the price, just like the stock market. But in the long term, the price will still rise because the total supply of bitcoins is limited. What is happening now is just volatility.

KingsDen

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Quote from: Woodie on September 09, 2023, 12:52:37 AM

Quote from: FiveG on August 14, 2023, 10:52:23 PM

Overtime now it seem like bitcoin is lacking direction but from the look of things it has started gaining effectively price direction and this is going to going a long bullishly

From what am looking at... Bitcoin has lost its volatility from what it was known for , and at the moment seems to be ranging with small moves happening here & there which can easily be mistaken for bullish momentum but in reality there is bearish pressure... And looking at the monthly chart it actually suggests that we could be trading bearish until we hit a low before price reverses upwards.

It is fine that you noted one thing about the Bitcoin price volatility. Before now Bitcoin in a day can make plus $5000 or minus $5000 because of high volatility, but now for bitcoin to move from $25000 region $27000 region is a very difficult task because volatility is not high. As you have said that before we experience the bullish trend we are expecting that we are supposed to hit a low. We are already at the $25000 region, where then will be the low to the extent we will reach before the market reverses. Are you talking about $18,000 or $12,000?

posi

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Quote from: Dave1 on September 08, 2023, 11:24:23 PM

Quote from: Falconer on September 08, 2023, 03:24:39 PM

Quote from: posi on September 08, 2023, 03:10:23 AM

Quote from: Kemarit on September 07, 2023, 10:04:45 PM

-snip-

I don't remember exactly September or October and the Fed didn't confirm it would raise interest rates, but they said they could continue to raise interest rates because the inflation situation is not really under control. Some recent news also shows that the Fed will not hesitate to continue raising interest rates 1 or 2 times before stopping raising interest rates. If that happens, it will really put pressure on the market and it will be even more difficult for us to recover before the end of the year.

The price has been trading above $26k but I don't consider this a good sign as without any positive news to sustain then a drop will happen at any moment. We need more positive news or bigger movements to be considered positive for bitcoin.

The bitcoin price didn't last longer above $26k, it has dipped to around $25.8k at the moment. I still see a big challenge for bitcoin to maintain its value, there seems to be a lot of selling pressure making it difficult for the price to recover without major support. People seem to tend to pay attention to negative news that impacts prices, but they react very little to positive news. This indicates that the index of people's fear of investing in bitcoin is still high.

Yes, surprised that it didn't last that $26k price range as it dip down to $25,800. And for sure there are speculators who have sold and made instant profit and so volatility is their friend on that kind of situation.

Nevertheless, same here, I never pay attention to negative things, also I will research what's really going on specially if the price goes down. But I will not be ever be affected even if the impact is huge. Just a matter of time before the market will bounce back and it has been proven many times already.

I also think the people who are selling and causing these corrections are short-term bitcoin speculators. As for the holder, they have held it until now so there is no reason to sell now. Furthermore, I suspect that bitcoin's sideways and gradual price decline may be due to manipulation.

If you are a long-term investor, more bitcoin drops will never scare you, on the contrary, you will feel more excited because you have the opportunity to buy bitcoin at a cheaper price. Unfortunately, I don't have a lot of money left right now, but I also don't feel scared or sad when bitcoin prices drop. Everything is temporary and it is only a matter of time before bitcoin recovers.

Negotiation

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There is always volatility in the crypto market so the market will bounce back and go higher as the volume of bitcoin sold in the market increases the price decreases. And as more institutions adopt bitcoin as a means of investment and exchange its price rises another thing is that many people do not believe in conventional currency and look for alternative means. Since there is no central control system of bitcoin many people are choosing it and the price is increasing. The market should be researched properly and we should move forward with positive thinking. Bitcoin keeps going even when the price goes down because investors know that the price will go up if it goes down.

Woodie

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Quote from: FiveG on August 14, 2023, 10:52:23 PM

Overtime now it seem like bitcoin is lacking direction but from the look of things it has started gaining effectively price direction and this is going to going a long bullishly

From what am looking at... Bitcoin has lost its volatility from what it was known for , and at the moment seems to be ranging with small moves happening here & there which can easily be mistaken for bullish momentum but in reality there is bearish pressure... And looking at the monthly chart it actually suggests that we could be trading bearish until we hit a low before price reverses upwards.

Dave1

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Quote from: Falconer on September 08, 2023, 03:24:39 PM

Quote from: posi on September 08, 2023, 03:10:23 AM

Quote from: Kemarit on September 07, 2023, 10:04:45 PM

-snip-

I don't remember exactly September or October and the Fed didn't confirm it would raise interest rates, but they said they could continue to raise interest rates because the inflation situation is not really under control. Some recent news also shows that the Fed will not hesitate to continue raising interest rates 1 or 2 times before stopping raising interest rates. If that happens, it will really put pressure on the market and it will be even more difficult for us to recover before the end of the year.

The price has been trading above $26k but I don't consider this a good sign as without any positive news to sustain then a drop will happen at any moment. We need more positive news or bigger movements to be considered positive for bitcoin.

The bitcoin price didn't last longer above $26k, it has dipped to around $25.8k at the moment. I still see a big challenge for bitcoin to maintain its value, there seems to be a lot of selling pressure making it difficult for the price to recover without major support. People seem to tend to pay attention to negative news that impacts prices, but they react very little to positive news. This indicates that the index of people's fear of investing in bitcoin is still high.

Yes, surprised that it didn't last that $26k price range as it dip down to $25,800. And for sure there are speculators who have sold and made instant profit and so volatility is their friend on that kind of situation.

Nevertheless, same here, I never pay attention to negative things, also I will research what's really going on specially if the price goes down. But I will not be ever be affected even if the impact is huge. Just a matter of time before the market will bounce back and it has been proven many times already.

dansus021

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Quote from: posi on September 08, 2023, 03:10:23 AM

Quote from: Kemarit on September 07, 2023, 10:04:45 PM

I haven't heard about the raise of interest rate this September, but if they did I would agree that it will have a negative effect again on the price.
However, if you look at todays price, it seems that we have overcome $25,000 as we move to $26,300, which is a good sign this month.

I don't remember exactly September or October and the Fed didn't confirm it would raise interest rates, but they said they could continue to raise interest rates because the inflation situation is not really under control. Some recent news also shows that the Fed will not hesitate to continue raising interest rates 1 or 2 times before stopping raising interest rates. If that happens, it will really put pressure on the market and it will be even more difficult for us to recover before the end of the year.

The price has been trading above $26k but I don't consider this a good sign as without any positive news to sustain then a drop will happen at any moment. We need more positive news or bigger movements to be considered positive for bitcoin.

After a quick search on Google that "After two relatively tame Consumer Price Index inflation reports and some evidence that the employment situation may be softening, the Federal Reserve is not expected to raise rates at its September meeting. However, there is still a chance that the Fed raises rates again in 2023" - https://www.forbes.com/sites/simonmoore/2023/08/15/what-to-look-for-from-the-feds-final-meetings-of-2023/

There is still a chance Fed raises in 2023 but we don't know it yet but there is a meeting this month, and the price currently I'm writing is $25.8K so possibly sideaway until there is good news coming.

eightdots

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Quote from: Mr.suevie on September 08, 2023, 04:08:46 PM

Quote from: n0ne on September 06, 2023, 06:42:18 PM

The market is suffering to gain resistance and get pushed. This is happening as there is low circulation caused due to the lack of inflow. This could happen when the market makes a bounce due to some special occasion or incident happens relative to bitcoin. Recently when the application X got the access to add cryptocurrency payments the market bounced a little and this is expected to make people invest into bitcoin and keep the market on the bullish side. Things didn't go as predicted and the downfall happens immediately. So, this time we need something strong to push the market until then movement will be within specific range.

The cryptocurrency market is very big and varse so bitcoin rising back to its point is just base on the time this happens and I must add for us to know that the bull run is close by and aslo the halving effect too is close by because as past studies show this occurrence of the price actually dipping before bitcoin takes stride is actually what have been true in this past year so am just skeptical that all the things happening now it's all part of the big bang we all will soon experience after the halving

Everyone thinks a bull run is coming. As in previous years, Bitcoin needs to complete its decline first. For now, the price is under pressure and cannot go up. When there is a momentary increase in price, the price cannot hold that level. So Bitcoin needs to get rid of that stress first.

I am in favor of the price getting rid of these pressures and falling and then rising. First, the expectation must be met and the price must fall. We can see this from the recent Bitcoin movements. There is pressure on Bitcoin and the price cannot go up. Then I would rather see the price fall than stay the same. If this happens, then the stress will decrease and the price will increase after the fall.

Mr.suevie

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Quote from: n0ne on September 06, 2023, 06:42:18 PM

The market is suffering to gain resistance and get pushed. This is happening as there is low circulation caused due to the lack of inflow. This could happen when the market makes a bounce due to some special occasion or incident happens relative to bitcoin. Recently when the application X got the access to add cryptocurrency payments the market bounced a little and this is expected to make people invest into bitcoin and keep the market on the bullish side. Things didn't go as predicted and the downfall happens immediately. So, this time we need something strong to push the market until then movement will be within specific range.

The cryptocurrency market is very big and varse so bitcoin rising back to its point is just base on the time this happens and I must add for us to know that the bull run is close by and aslo the halving effect too is close by because as past studies show this occurrence of the price actually dipping before bitcoin takes stride is actually what have been true in this past year so am just skeptical that all the things happening now it's all part of the big bang we all will soon experience after the halving

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Quote from: posi on September 08, 2023, 03:10:23 AM

Quote from: Kemarit on September 07, 2023, 10:04:45 PM

-snip-

I don't remember exactly September or October and the Fed didn't confirm it would raise interest rates, but they said they could continue to raise interest rates because the inflation situation is not really under control. Some recent news also shows that the Fed will not hesitate to continue raising interest rates 1 or 2 times before stopping raising interest rates. If that happens, it will really put pressure on the market and it will be even more difficult for us to recover before the end of the year.

The price has been trading above $26k but I don't consider this a good sign as without any positive news to sustain then a drop will happen at any moment. We need more positive news or bigger movements to be considered positive for bitcoin.

The bitcoin price didn't last longer above $26k, it has dipped to around $25.8k at the moment. I still see a big challenge for bitcoin to maintain its value, there seems to be a lot of selling pressure making it difficult for the price to recover without major support. People seem to tend to pay attention to negative news that impacts prices, but they react very little to positive news. This indicates that the index of people's fear of investing in bitcoin is still high.

posi

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Quote from: Kemarit on September 07, 2023, 10:04:45 PM

Quote from: dansus021 on September 07, 2023, 07:40:43 PM

and also yes that some investor is depressed and losing hope, I also heard that the SEC is going to raise the interest rate this September if they do the Bitcoin price might fall again. Secondly, Bitcoin ETF application is still not yet approved at this time, but when this get approved this gonna be huge win for Bitcoin.

I haven't heard about the raise of interest rate this September, but if they did I would agree that it will have a negative effect again on the price.
However, if you look at todays price, it seems that we have overcome $25,000 as we move to $26,300, which is a good sign this month.

I don't remember exactly September or October and the Fed didn't confirm it would raise interest rates, but they said they could continue to raise interest rates because the inflation situation is not really under control. Some recent news also shows that the Fed will not hesitate to continue raising interest rates 1 or 2 times before stopping raising interest rates. If that happens, it will really put pressure on the market and it will be even more difficult for us to recover before the end of the year.

The price has been trading above $26k but I don't consider this a good sign as without any positive news to sustain then a drop will happen at any moment. We need more positive news or bigger movements to be considered positive for bitcoin.

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Quote from: dansus021 on September 07, 2023, 07:40:43 PM

Quote from: posi on September 07, 2023, 04:55:05 AM

I think bitcoin will continue to move sideways and this situation will last even longer. A few days ago I saw a news report saying that a lot of investors are leaving the market and it shows no signs of stopping. Looks like this is the last time to shake off the weak hands, the last bad projects before entering a new bull cycle.

Bitcoin has not had any noticeable movement in the past several months and this has left many investors depressed and losing hope. It can be said that this period is really terrible that we need to get through. I am not optimistic about bitcoin between now and the end of the year.

Yeah, I hope we can get rid of weak/fake project since this type of project wipes investor from investing again in the crypto industry, but the real problem is when the bull cycle start fake token or fake project will start to float on the market again. so it's hard to totally wipe out all of it.

As much as I wanted that, I doubt that it can be done in one full sweep. For me the way to get rid of them is a heavy regulation.
But we don't what that because it will contradict the very tenant of crypto currency.
So it's going to be for investors to do their own investigation before pouring their big money on some projects in the beginning.

Quote from: dansus021 on September 07, 2023, 07:40:43 PM

and also yes that some investor is depressed and losing hope, I also heard that the SEC is going to raise the interest rate this September if they do the Bitcoin price might fall again. Secondly, Bitcoin ETF application is still not yet approved at this time, but when this get approved this gonna be huge win for Bitcoin.

I haven't heard about the raise of interest rate this September, but if they did I would agree that it will have a negative effect again on the price.
However, if you look at todays price, it seems that we have overcome $25,000 as we move to $26,300, which is a good sign this month.

dansus021

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Quote from: posi on September 07, 2023, 04:55:05 AM

I think bitcoin will continue to move sideways and this situation will last even longer. A few days ago I saw a news report saying that a lot of investors are leaving the market and it shows no signs of stopping. Looks like this is the last time to shake off the weak hands, the last bad projects before entering a new bull cycle.

Bitcoin has not had any noticeable movement in the past several months and this has left many investors depressed and losing hope. It can be said that this period is really terrible that we need to get through. I am not optimistic about bitcoin between now and the end of the year.

Yeah, I hope we can get rid of weak/fake project since this type of project wipes investor from investing again in the crypto industry, but the real problem is when the bull cycle start fake token or fake project will start to float on the market again. so it's hard to totally wipe out all of it.

and also yes that some investor is depressed and losing hope, I also heard that the SEC is going to raise the interest rate this September if they do the Bitcoin price might fall again. Secondly, Bitcoin ETF application is still not yet approved at this time, but when this get approved this gonna be huge win for Bitcoin.

Odohu

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Quote from: posi on September 07, 2023, 04:55:05 AM

I think bitcoin will continue to move sideways and this situation will last even longer. A few days ago I saw a news report saying that a lot of investors are leaving the market and it shows no signs of stopping. Looks like this is the last time to shake off the weak hands, the last bad projects before entering a new bull cycle.

The side way move of Bitcoin will linger for a while at least till around the end of the year given that there is no major news that will propel any huge move. The market is speculative and driven entirely by news. Furthermore, considering the market cycle of Bitcoin, major move is expected 2025 but this is expected earlier in 2024 because of halving that many are looking out for.

Quote from: posi on September 07, 2023, 04:55:05 AM

Bitcoin has not had any noticeable movement in the past several months and this has left many investors depressed and losing hope.

I wouldn't say that investors are depressed because just recently there was news of Bitcoin investment running into billions of dollar. This is optimism from the side of the whales. What is happening in the market now is normal; it is call compression or accumulation... market do that to build momentum before any major move. The longer the accumulation the more explosive the move will be.

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Quote from: dansus021 on September 06, 2023, 08:48:19 PM

September Update Bitcoin not moving again it goes sideaway and most likely going to a bearish moment again. I hope not gonna happen, but the 200 EMA shows Bearish and now testing the local support We need at least good news to make bitcoin move again after the last time SEC lost against grayscale but chose to pending all etf applications. So wait and see is a better option right now.

and september usually refer to a SADTember Sad

I think bitcoin will continue to move sideways and this situation will last even longer. A few days ago I saw a news report saying that a lot of investors are leaving the market and it shows no signs of stopping. Looks like this is the last time to shake off the weak hands, the last bad projects before entering a new bull cycle.

Bitcoin has not had any noticeable movement in the past several months and this has left many investors depressed and losing hope. It can be said that this period is really terrible that we need to get through. I am not optimistic about bitcoin between now and the end of the year.

WatChe

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Quote from: n0ne on September 06, 2023, 06:42:18 PM

The market is suffering to gain resistance and get pushed. This is happening as there is low circulation caused due to the lack of inflow. This could happen when the market makes a bounce due to some special occasion or incident happens relative to bitcoin. Recently when the application X got the access to add cryptocurrency payments the market bounced a little and this is expected to make people invest into bitcoin and keep the market on the bullish side. Things didn't go as predicted and the downfall happens immediately. So, this time we need something strong to push the market until then movement will be within specific range.

If you see Bitcoin market then it's not for short duration. The price of Bitcoin in Jan 2023 was around 17 to 18k and then it went up to 30k and remain stable there for few weeks. If you compare what bitcoin price is right now with price at start of this year then you will see its still a massive improvement. Now doubt price is down and may be it can go further down but this is not a sign to worry about, the price will rise again though it may take some time. News do effect price of Bitcoin but only for short duration, bitcoin is a moving up crypto in the long duration.

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Quote from: ShowOff on September 06, 2023, 04:22:09 PM

Quote from: Davian144 on September 06, 2023, 09:52:20 AM

Quote from: Juse14 on September 06, 2023, 02:54:06 AM

The movement of assets, especially Bitcoin is triggered by economic sentiment, one of which is also a few regulatory sentiment about crypto in several countries that can also affect the movement of demand for bitcoin increases or decreases, it has become common in Bitcoin in each cycle and I think there is no one Strange about that in this cycle too.
What else should you consider buying Bitcoin?, Today we are at a very low price of ATH Bitcoin before, Bitcoin Halving is not long, many large companies want to market Bitcoin even though it is only limited to ETF, but I am quite sure of Resulting in high demand encouragement, i think only needs to use money that is not money for your daily needs.

If you think about it, it makes sense to buy Bitcoin from now on, apart from the reason that the price is already quite low, because I also really believe that there will be a better demand boost before the halving event occurs on Bitcoin. This will be quite obvious when there are more companies willing to market Bitcoin in any way so that a demand boost will arise within the community because they will see this as a pretty good opportunity. So a lot of people probably won't ignore that so they will have the urge to buy Bitcoin before the halving happens.

You should be able to consider that currently many people will be forced to ignore investment opportunities considering the poor economic conditions. Instead of investing, I can see that they are having a hard time making ends meet amidst bad inflation. Unfortunately that has been the case until now, but not everyone will pass up an opportunity as long as they have the budget.

For now I agree that bitcoin accumulation is worth recommending. Bitcoin is still at -62% of its past ATH, so this is a good opportunity to earn more. Budget adjustments are necessary, but I hope they don't force themselves to invest to the point of having to hold back on making ends meet.

It is undeniable that indeed people who are in better difficulties do not go into investing or with the term do not make themselves if your financial situation is not good, more or less the time is needed to benefit from Bitcoin, so fully fulfill the needs.

And illustrated the movement of Bitcoin prices is very slow today and is still waiting or taking a breath to do a movement jump, this should be an important point that must be taken at this time, but from many people it seems to be still doubtful and fearing that Bitcoin will decrease, most they feel Better when the market is green.

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September Update Bitcoin not moving again it goes sideaway and most likely going to a bearish moment again. I hope not gonna happen, but the 200 EMA shows Bearish and now testing the local support We need at least good news to make bitcoin move again after the last time SEC lost against grayscale but chose to pending all etf applications. So wait and see is a better option right now.

and september usually refer to a SADTember Sad

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Quote from: JoyMarsha on September 06, 2023, 04:09:09 PM

Quote from: FiveG on August 14, 2023, 10:52:23 PM

Is this the green opportunity for us to buy or is going to return back after a while

Many investors are buying and selling their bitcoin at any time they feel like, you can do the same by buying bitcoin now that the price is at a bit low and sell back when the price is high. You must not wait for any special time to do that since you will be investing for profits and with the money you can afford to lose. Every other additional thing is minor than to hodl your bitcoin and keep your seed phrase safe because there is every possibility that, the price of bitcoin today will not be the same in months to come after the halving season.

i can understand the dilemma of the OP here as it seems he is relatively new in this market. as you said, anyone can buy anytime at their own convenience. as no one can exactly tell you what's gonna happen, you will just follow your instincts on what to do with your portfolio. and that i can say, is actually hard for newcomers in this market. and most of them have the notion that this market can get them rich at a short period of time. that's why they are easily get disappointed if they can't get the profit that they thought they can get from here.

Topic: Why is bitcoin moving now? - page 2. (Read 628 times)