Bitcoin Forum

Looks like the bull run of the couple months is temporaly over. Time to have a nice consolidation period around 1100$. Let the dust settle and let bitcoin cool down. We need to stay at this price for a couple of months and let it be the new bottom. Its better for our market, traders and bitcoin's biggest problem: trust.  Average Joe needs to believe in bitcoin to make it succesfull. Spread the news folks!

I also think that the price will be stable at 1100$ price ranges. It's good though since it would or might attract new investors to come in since bitcoin right now is consolidating in a price that is so big based on it's history and graphs. I really do hope that we would consolidate in these price for a few couple of months before it makes a move again downward or upward so that many will be given the chance to buy or sell for those holders who bought at 200$ price below.

I think the next couple of weeks will be interesting. I can't imagine sideways trading to continue much past that. Bitcoin is still undervalued. At some point the price will rise and a another bubble will ensue, maybe not this year or the next but probably within three.

Probably the price might increase for the upcoming few weeks as the price increase has took place even on expected scenario of a steep fall. $1200 seems to be the price tag for the consolidation as the fluctuation is happening between with frame of $1180 and $1220.

I could see the price drop more since it has had such big increases over the last few weeks. It's time for a correction especially after the ETF was not approved. I think it could drop quite a bit lower than the current price.

Today's key word is consolidation :D if you haven't figured it out yet then you are not fit for this community. we all know that news from trusted sources have great impact on bitcoin's price and we all gladly take advantage over drops and rises.
Bitcoin has always acted as a natural event when nature always balances things out bitcoin will always correct it's course and eliminates any artificial manipulations.
Only prices under $900 would be alarming.

The bulls end and a lot were expecting about the big bearish are not happening. We on the steady way for the couple weeks later. If the price of bitcoin gets pump in the future and it goes with the stable price and strong community.

a couple of months? i don't think so. but yeah, there will be a short term stable period when we only see $1150 plus or minus $10-$50 fluctuations and yeah it is good for bitcoin as things settle down and everyone gets ready for the next step of the rise.

but i disagree with the average Joe part. an Average Joe doesn't look at the short term price fluctuations unless he wants to become a day trader. he looks at two things: either the long term and how price went up compared to last year and last year and so on.
or he looks at how adopted bitcoin is, how and where he can spend bitcoin and which shops online or offline accept bitcoin.

Small price decline, no higher than 15%, and extended period of consolidation and stability was exactly what I was expecting will happen after ETF decline.
Glad that I understand the market enough to notice pattern here. Some valid observations:

- we didn't have price panic as some FUDers suggested
- ETF was denied because Bitcoin is not something that can be regulated
- we may argue that regulators went to far here and killed innovation ETF could bring

bitcoin is always on a bull run :)
sometimes it is slower and sometimes it is faster.

it is just the correction price after the fast rise of the ever lasting bull run. and the dust settles for the market makers fast when the price went down in the first dip.

nope, those who wanted to get out and then get in at the bottom have already done that and made the profit they wished for.
a couple of months is way too long for staying at the same price. and if we do stay it will be because of unpredictable events not because market needing to settle down.

average Joes trust bitcoin not the short term fluctuations.
and it is up to you, when spreading the word, to talk about bitcoin and tell them about it as a currency not a wild swinging commodity that has high risks.

The game is just beginning.

Many did not believe until it hit 1k again.

A few more years and we'll remember these days with nostalgia...as we remember 2013.

The best part is how all the altcoins will jump in value without the ETF approval.

The run up of the last 2-3 months definitely wasn't due to a very very small chance of an ETF approval.It's because Bitcoin is gaining more and more traction and builds out a strong basis close to or slightly above $1000!
Furthermore the price went crazy two days ago, as expected, and now seems to cool off a bit. That is good.
I can not predict the direction we will go the next week,and if it there will be some wild moves again or not, but I'm sure we will continue moving up this year.Some sideways movement for a few weeks or so wouldn't be that bad by the way. Some will use this as a chance to buy into Bitcoin ot accumulate some more of it.
So if you're in for long you shouldn't give a damn what's going to happen the next few weeks or months.
If you want to trade however, especially in short term, well that's a different thing.

Observing on the chart we are really on the consolidation period and the bull run is over but we cant still be sure since price of bitcoin does always surprise us.We dont know exactly on when it would move up or down.
Adoption would really be a big factor to increase more the price of bitcoin.

I thought that too.. until 2 minutes ago..

Like, that would be the normal thing to do.. side ways around 1200 for a while..

I'm not so sure now. Now I think.. "consolidate, my ass... - to the moon inside a couple of weeks"

I don't think I've ever felt so bullish.

I just deep down feel the ETF rejection was a good call and is actually a benefit.. and also that the segwit / core / blockstream / BU drama will get sorted soon. LN? SegWit? tumblebit, mimblewimble.. layer 2 scaling solutions? there is a lot of talk.. and somehow.. somehow it will all be sorted out for the best.. that then, is blastoff.

As if it's in our hands to decide the prices haha if it was,I'd have hiked them to $100000 +.Type of speculation threads we get these days..
Let the bitcoin cool down ? How does bitcoin cool down bro ? Please give me an technical overview if you wish anyone to take your post seriously..

I think that this movement look a lot like the 9-2-2016 scenario.

-Pump
-Dump
-consolidation for 2 months ( we are here now)
-next dump (small)
-bull run can continue again

Yorky your predictions are all over the place. One day you say dump, other day you say pump, then you say consolidation... You know nothing.

Meanwhile the bitcoin price and demand is increasing.

Well all those 3 things happened like i descrived above. Its the pattern i am talking about. Its clear that you cant see it. Thats why i am trying to explain.

Wish you'd use the name of the month instead of numbers.. this amreican/european date format can be confusing

Nevertheless there has been rumors of at least two other ETF approaches ongoing besides the Winkelwoss one, but I cannot dig where I picked that up! Must have been a posting inside this forum subpart. It's not a single thing to kill off.
However on the long term an ETF tradeable product is inevitable, somewhere around the world some tiny location just would have to reach out it's hand to grab hold. And if we have to use rupees or rouble to get access, doesn't matter.

I do not see consolidation.

Meh. Maybe i was wrong. We will see. Maybe bitcoin skips consolidtion and small last dump before next bull run

How would you argue about the last three hours? 1200$ are the new consolidtion level with an upswing pushing right through.
During last week I did clicked so many urls containing "ETF" that I'm now uncapable of finding relevant information again. Small doubt remaining if it was relevant, after all.

You are wrong in this case and so is the case with many users as some expected that the price would go down and consolidate after the rejection of ETF but people are buying back the coins with every dip and so is the reason we are not seeing much of a difference now and there might be other financial difficulties throughout the world that holds the price,only time will tell.

It does seems like bitcoin consolidating which gives fresh opportunity for investors to add some bitcoin to their crypto portfolio. Some investors are swapping their bitcoins for dash and monero and even for ethereum but I decided to buy some bitcoins and planning to hold on for some years.

I also think the price will be circulate within 1100$.It's good though since it would or might attract new investors to come in since bitcoin right now is consolidating in a price that is so big based on it's history and graphs. Because, investors till now using paper currency. So,the price variation between the country to country.

I really do hope  we would consolidate in these price for a couple of months before it makes a move again downward or upward so that many will be given the chance to buy or sell for those holders who bought at 200$ price below. Probably the price might increase for the upcoming few weeks as the price increase has took place even on expected scenario of a steep fall.

it is pretty funny because price is already back above $1200 now :D

to be honest i was expecting another boring state when price stays low and everyone yawns in the speculation board but it seems like the market has been very ready for this rise and the demand (specially with all the money they got in the last rally) is buying bitcoin up again towards $1300 once again.

man this is the same pattern of bitcoin for every scenario that happened, not only 2016, LOOK at the precedent chart and pump and dump, they are all very similar, this is what i call manipulation


isn't holding the same price for a long time called consolidation? bitcoin is now stuck at the same value from many weeks, i call this consolidation as well

Its a bull for the whole year of  2017. I can guarantee that bitcoin will reach $1500 by the month of june.,and will continue to go up on the rest of the month. Maybe 1800$ by december.

It's quite surprising that the price is staying high. I expected a drop after the rejection of the Bitcoin ETF, but the drop wasn't as much as expected and it is already moving back up.

I do not think that bitcoin price will drop very low, maybe due to correction but not because of the ETF rejection.  The crash due to ETF rejection is over, Bitcoin had recover its price.  I do believe that all the previous run had been stopped by ETF rejection and the current price is probably the real price value of Bitcoin.   I also believe that the next week would be interesting, would the Bull continue to run after being trapped in an ETF hype?

The reason of disapproval given by SEC ruled out any ETF to be approved in the future. They may apply again but the same reason will be given and they will be rejected again.

Back on topic.

The price is still moving up, though not as fast as last month. It go sideways a bit and then move up again.

There was a drop (of up to $300), but the price recovered quickly. I agree with the OP that there will be consolidation, but I think it will happen over a range from $1100 to $1300. If the ETF had been approved, there would have been a true bull run.

it is funny how all these old topics from a couple of days ago before all the ETF drama are being bumped today. OP's consolidation period lasted for 2 days or less instead of couple of months.

and the worst one of the speculations in this board from those days are users who were calling $700-$800 bottom nonstop in each ETF related topic, to a point where it started to get annoying.