Bitcoin Forum

That bear move we just saw was so weak.

I was predicting (a few days ago) that we would see some last death struggles by the bears, which might bring us to retest the critical $9k support levels, or even $10k, before going to the MOON ($20k run).

So what's happening? We've been staying above $11k for the past few days. Are the bears really this weak?

Yes, it is incredible, but we need to get ride of that. And no, it is not a bear move after all, this was just a little dip. Do you think that a real crash is just a little decrease of 20%? Of course not.

Dude we lost 1.5k in 12 hours
this could easily go below 10k

It might not be a bear move but another correction. You shouldn't expect another fast rush to the 20k anymore. At least untill some major event will happan and tbh I do not expect anything (especially positive ones). The fees are still high and no one can tell the exact date of lightning network  release or anything else that may help to solve the problem. Untill that BTC will only crawl upside.

I agree, while BTC is trading above $2500 I consider the bears as WEAK too :) Once BTC starts tumbling below $2500 I'll say they're not weak. The bulls on the other hand are STROOOONG. I'm dead serious. You have this coin that failed as a payment system, governments are banning (India added last night) without any viable future, and it's STILL trading above $10.000. That's only possible because of strong bulls.

The bears will never run out of gas..

It is even more easy to fuel the fire of evaporating profits then it is to get people to invest in stuff that is going up.

I do think this is the last drop for now and that it is time to fasten our seatbelts again for a big take off.

Yeah it's definitely not over.
Right now price is around 11300 and looks pretty bad. No signs of strong support at the moment.
Just slowly grinding down.
I even think we could see another attempt to push price down to $8k.
As bad as this sounds I know, I think it's still possible.

You could make the same argument about bulls not being able to move past $13k, which is still 35% below all time highs, where many people on this forum bought in.

I have some buy orders open for bitcoin all the way down to $7k from $9k and waiting all of them to get hit.

Market is still bearish and I don't think it will change to bullish till end of feb. Lots of sell volume coming from south korea which might mean some people have insider information.  ;) ;)

The bear have done poorly this days  I was even think based on what I read on the social media that bitcoin is going to dump to $5,000 but that has become the things of the past. I just make some personal predictions that bitcoin is going to get a little corrections toward $10,200 before all time bullish market that might take us close to the December high of $20,000. If that did not hold and the bear take over by next week then bitcoin might fell below $7,500.

I was a little frightened by the decline in bitcoin prices. we can see that price movements are increasingly critical. including altcoin, some of the inveabilities I did partially failed this week. it all happened because the price of altcoin that fell

We reached 20k too fast. What we are seeing now is the normal course of events for the present situation.


This. There is no justification for the price to skyrocket again fast apart from people thinking that this is the coin of the future and that it will be worth $1.000.000 by 2020. There are better coins for small payments now, and people also think they can make a lot of money buying alts.

Support is at $9k, so any movement above that is normal, and nothing to fear or anything.

India banned Bitcoin? I didn't hear about that, but I doubt anyone cares...

The market is the one deciding Bitcoin's worth, not speculations on its quality or utility. It already "crashed" 50% anyways... people are clammoring for a 90% drop from ATH, but it just won't happen.

OF course not. Who cares about such a small country. Its GDP is only 2x Russia. WHen Russia banned BTC nobody cared neither :) Wake me up with the USA bans bitcoin :)

I cared about China, and so did Bitcoin (went up a lot after a little bit of panic).

US will never ban Bitcoin, because Uncle Sam's pockets are getting lined too well :)

But the question is never "who cares" but "does the market care?"

If support from $8k - $9k breaks, then the answer is yes - otherwise it is no.

If that breaks, I'm selling my BTCs when the price bounces up one more time, since that's pretty indicative. If not, we are going to $20k.

Bitcoin Wanga seems to think we are going to $40k soon, and his predictions have been not too bad overall (stunningly accurate).

Haha so you think the USA will sit there and watch how some crypto currency, a currency they can not control, take over their fiat currency? Haha that's funny. I'm sure that will happen on the same day supermarkets start selling uranium and cocaine.

I would not call the current situation "take over" by any means. Bitcoin would have to grow 10x before that even comes close. $200 billion market cap (and most of that is thin air) is absolutely nothing, which is why the only way to go (in the long term) is up.

Right now a few institutions can buy up all the Bitcoins available on the market without any trouble.

There's NO WAY the USA will sit back and do nothing once they really fear BTC to become a competitor. Obviously they currently don't think it can happen. But if it becomes too big, they'll destroy it.

As for cocaine.. I despise all drugs, but alcohol was once illegal, and so was weed. The former is fully legal and regulated, while the second will become legalized fully in the future (and heavily taxed!).

*What competitor? The US has made many rulings on Bitcoin, and all of them have been positive, on the side of regulation :)

The US has shown that it supports Bitcoin, as long as it's regulated and it can extract taxes from it.


If you personally believe the US will ban Bitcoin, I guess your moves will be pretty easy.

Why would you say that its weak? We're talking about billions in trading volumes in the last 24 hours and the market is still unable to make a return. 10k USD might break soon under such a market sentiment. Bitcoin's price has been dropping almost steadily after the peak.

Well, the reason is because I predicted, a few days ago, a bear wave (final one, then going back up) from ~10k - 11k down to test $8k - $9k, and instead the price just went from $9k to $13k.

So based on expectations of one more test at the support level ($8k - $9k), the current move seems very very weak.

If the price goes under $10k, which it might, it's nothing to worry about, in my opinion. It's only if $8k is breached - in that case I'm selling on the bounce. Anything higher than that, and it's buying time.

Perhaps we will touch down to $9k again but I don't think $8k Bitcoin is going to be very likely to happen. If we can maintain a position of $10k and above, I'm confident we will be in bullish ways very soon.


And rightfully so. We went up too fast too quickly.

More or less. I'm trading it with a short bias. So far so good.

The bear market was weak but the market went down because of the FUD news that is in the air regarding the ban of exchanges and once we have some clarity regarding that,the market will be like that,the market swings are not new when it comes to bitcoin and hence i would like to see the price above ten thousand and do not want to see that below that valuation.

Probably this is the second wave of the bear. From what I can remember last time there's three batches of it and some experts told that after that 3rd wave that will be the rage of bitcoin moving upward. This is base on what happened during the mid of 2017 but it's still applicable I guess since we are giving different points and TA's here. My primary suspect that cause this bear is that because India is closing the bank accounts of the exchanges there so well as an opposite reaction there are misinformed people who taking that negatively and start to sell. Glad to see this bear being stable at $11,000.

This bear and bull talk has no meaning. This market is bumping up and down in the same way it has been doing that for the last few weeks. If the price jumps up, people act like the bulls are back, and when the price falls down again, the bears seem to have made a come back. ::) It's just common volatility we're experiencing due to how thin the markets are. If we had more liquidity available, the market would remain pretty stagnant in times with no developments or other triggers helping the market forward. As long as we don't fall below the recent bottom, which was just over the $9k level, there is nothing really interesting happening. I still expect $13-$14k before the end of next week....

Of course this is just another dip and a chance for us to make some smart money from panic sellers.
I'm living from these moves because price is not synced on all exchanges :)

We are not considering that billions in trading volume, if you are holding few bitcoins then you can't see any difference of it if you will only look at the prices. But $11,000 is a better price to see than $10,000 though.
Kindly emphasize those moves.

someone who believes that Bitcoin will be banned by the US will be shorting it, and/or buying it on the bounces.

Certainly won't be holding for long-term.

If the U.S. wanted to ban Bitcoin, they've had 9 years to do it and still haven't done it.

Also if the U.S. wanted to ban it, they wouldn't have allowed the creation of a Bitcoin Futures market for it. But they did.

Also if the U.S. wanted to ban it, they wouldn't allow the creation of Bitcoin ETFs for it. But they will.

Most countries that banned BTC did so recently. India being the latest, last night. So there goes that argument.

CBOE can create futures on anything they feel is interesting. They're not government. Same goes for an ETF.

I've actually researched the "India ban", and it seems that it's fake news.

LOL look at how they put the correction in the smallest possible print:

https://cointelegraph.com/news/indian-banks-suspending-bitcoin-exchange-accounts

^The above article admits (in the fine print lol) that bank transfers for cryptocurrency haven't been impacted in any way, as of the 21st. Also, read the comments section. It's hilarious.

That means Bitcoin is not banned, period (since you can still put wires to crypto exchanges). Fake news, fake FUD.

Read it again, they only misstated one bank. The others not. https://www.express.co.uk/finance/city/907786/bitcoin-price-india-cryptocurrency-trading-btc-exchange that article doesn't even mention that specific bank

Hold on.. I actually thought that there was a *ban*, not restriction(s) and regulations (perfectly reasonable) on Bitcoin, relating to banking.

And I have read the article - there is nothing stating a "ban". "Ban" is like China's ban, not additional restrictions.

Banks are actively suspending accounts associated with BTC. I'm not really interested in definitions and terminology but to me that equals banning. They're going after accounts and exchanges.

this is not a bear trap cause the price didn't drop to much i think it drop because of its volatility,  and for sure bitcoin wil never go dip again indeed it will start to soar again after days or week.  

This was just a weekend dump. We've been having them pretty regularly now for the past few weeks. Nothing to worry about. Price is already close to 12k again. It wasn't really a big drop but people are in a panicky mode right now for whatever reason. The calm investor is the one that walks away with the gains.

we currently are seeing a weak FUD move :D
practically after the bottom and as soon as price went back above $10k and continued rising, all those who sold at the bottom with panic and some other bears who want to accumulate more started their FUD campaign against bitcoin spamming everywhere how they "expect drop to $5k and around that number".
all these ban-news is a byproduct of that.

I do not understand why you are saying that this was just a "weak" bear movement. For me, the price is perfect at the moment, it is slowly dropping and it is just a new chance to keep buying some more.
But no, it will go down by a little bit more before pumping again.

He's saying that because he is predicting that bitcoin would go dip in the $9000 mark value and then go to the  $20,000 mark, But I am not pretty sure about it because this is just his prediction and a predicting a specific amount is not really possible maybe it is just the $10,000 mark then we are proceeding to the $20,000 right now because the price had already been in the $10,000 mark so the target right now is the $20,000 or even more.

The BTC future expires this Friday. I honestly think that institution investors have shorted BTC. If the price is driven to a new January low by this weekend... you'll know the bears are running this show. With names like Warren Buffet saying he would short BTC into oblivion, it doesn't instill a lot of faith in the outlook. Instead, Keep an eye on the futures and plan accordingly.

India banned bitcoin? No, you got the wrong info. Bank accounts of India's major cryptocurrency exchange were hold.
Source: https://dowbit.com/indian-banks-freeze-major-cryptocurrency-exchange-accounts/