Bitcoin Forum

over the past two days, BTC  prices has dipped as low as $9k. the BTC prices has since bounced back to a touching high of $ 10.4k, cold this be an indication that BTC is on the recovery track?

I think the strong resistance as of now is at 10600USD. Once it breaks out then it will go all the way up. The strong support is at 8800 USD. If it breaks the support at 8800 the next support line would be is at 8100USD. Well this is just on my personal analysis and opinion and dont take my word for it. You can still check and do research on your own.

no it can't.
the same way going down to $9400 was not an indication of a big drop, rise to $10400 is not an indication of a rise. both of these are side way movement of the market which will probably be the case until the end of this month.

when it breaks $12k or $8k you can call it recovery or big drop respectively.

The price of bitcoin keeps bumping and dumping there is no stable price movement yet so still it is not in the recovery track in my thought but it is good to see that price is recovering after each fall so what we need to do is keep investing on bitcoin to make money.

I think the bitcoin price is still very unstable, at present is still in a bear market, because governments are going to further regulation, and has a worldwide the G20 meeting in March, then I think there could still have a big fall at that time.

Watch your word mate you might get trolled here.
This is not a surprise though if its changing its price unexpectedly.For me i would not say that it is really recovering from a dip.We still don't know what will happen later,tommorrow and for the coming days.

just because there is a rise and a drop it doesn't mean it is a pump and dump. it is simply the market fluctuations which is perfectly normal in any market. the size is a little bigger than traditional markets because it is bitcoin, an unregulated and small market.
and since the lows are going higher each time price goes down, you can see a nice uptrend in the background.

I think its not that easy for even G-20 to put sanctions on the bitcoin that easily because right now the amount which is in the crypto currency is more than 67 trillion dollars which is more that a budget of a continent. If its going to happen, then it will happen in some fashion which will be acceptable for the people around. And let me tell you here that the bigger the economic power is, the more stakes that country has involved in crypto market. So lets not hyper ourselves try not to be a reason for the panic in other fellows.

I guest that it is only a part of its ordinary fluctuation. It can't consider as it's boundary of recovery. Maybe if it's push to much higher rage of 30-40% of it's current value, therefore it may consider as true recovery. But for the min-time, it is good that it's already rising up. We can't predict what would happen for the following days, but I hope that it could reach it's most higher value.   

Well it's safe to say that we've already recovered in a way. Looking at how the price plunged at the start of this year, we've gone quite a long way up. I think only those that got in during he hype last december are the ones that still haven't recovered. But with enough patience, eventually we'll get back to that ath probably this year

It already sunk below below $7k dollars and now it already bounced back to $10k. Prices are very volatile and no one can expect a continuous rise or fall in a moment.
I am hmjst guessing that if there are more factual news about development then it can actually go higher than today's price.
But if there are false news and FUDs, it will trigger panic selling more.

There remains no indication that a big recovery can be coming soon. I guess that can happen after the first quarter of this year or worse on the 3rd quarter which can be around June or July. We need good stimulus to make the market come alive again just like what we experienced in December of last year. Those new participants that entered the Bitcoin market last year are not yet coming back because many of them got burned when they bought BTC at its highest level.

Yeah its clearly showing bitcoin passed psychological barrier at 10000 dollars level. I believe bulls will force it to 11-12k dollar levels and if it can pass it will start new rally. But it may be too early to talk now.

It may or it may not be. But to think that it came all along from $6,000 so this is an indication that we are already recovering. Although we are still too far from what it use to be, this feels better that bitcoin seems to feel good and healthy at $10,000.
$10,000 is enough to say it recovered.

It is a great sign of recovery and we should expect bitcoin to be in range trend for till the middle of this months. Bitcoin is doing very well now compared to what happened in January and early February. I was thinking then that It might take to the end of May before we see a bitcoin above $10,000 but thank God that it recovery early and I believe we will soon resume the uptrend than we have then.

As much as we would like to see that bitcoin is bouncing back, but I'm afraid that I don't see it happening right now. Maybe $10K is the correct value of bitcoin, minus all the hype and frenzy specially during December.

It has passed $10700 already but we went into a mini dip again, but bounce back to $10700 so it looks like their will be really a tug of war between the bears and the bulls which will bring a sudden stand still in the price of bitcoin.

I think we got to the saturation point "10,000$ for 1 bitcoin". The Bitcoin trading market has imposed this point since the last correction/ crashing.
We will see the price of the Bitcoin swinging up and down over this point "lower price 8000$ and upper price 12,000$".
The fast-profit fever of Bitcoin and the news like that which gives the market a fake rose has ended.
Bitcoin needs things like the lightning Network [LN] to return to insane heights

I'm sure bitcoin will continue to grow throughout the year. 12000 this is not the limit. I do not see signs of recovery in the world economy. This means that the capital will look for a safe place. Whales buying coins from the time of the fall. They will definitely sell their bitcoins for $ 25,000+. This will trigger the next candle.

you are missing the big picture here. each time price drops, it drops to a higher low. for  example it first goes to $9000 then rises above $10k then drops down to $9200 then rises, then drops to $9500 and so on. and each time it rises the high it reaches is also higher.
this means it is sideways but with a tendency to rise.

it needs time more than anything else. LN will surely help but before it price will soar

I think we are going to see this price for a while, seems like BTC can't breakthrough the 11k barrier and BTC still looking for the support that it need, Everytime the BTC price try to spike, it being bring down to 9k, so I think BTC doesn't got enough support to stabilize and go up

Yeah, it is just some normal correction that any market can have after being over bought in the short term. A lot of people always panic on little things and I wonder why anyway.

The market in the long run will always be good and that is all that matters. Hence, trying to be weary of every situation that is happening presently will only end up setting in emotions which may end up to silly mistakes. Nothing is an indication of anything, but normally from the chart, bitcoin is looking strong and it seems the market is trying to get back up, but you cannot expect the usual testing of supports and resistance not to always come to play.

It is the market, they are always bound to happen once in a while, but if that depicts whether the market is still going down or not ? Then the answer is no until we are sure we have left the downtrend totally.

We have surpassed $11,000 already so I think it has bounce back. But as far as recovering, I don't think so. It's gonna be a long road ahead of us and the last 2 months has been pretty rough. I'm not saying that its a bad sign, but it could a indication that somewhat this could be the pattern unless some positive news that will come around to reach all-time-high and enjoy the same frenzy we see during the December madness. So it's gonna be a battle between the bulls and bears, and we all know which side we are. So let's give this market enough time and see how it pans out in the second quarter of the year.

I think it is indicate the big dump is waiting for soon. So it will little pump in the market I am just lying everyone curiously waiting the future possibilities because crypto market is suddenly drop and suddenly raise so no one predict the exact possibilities. But everything should be recover in June or July it is my prediction if you trust my words keep calm.

I think this is another bull trap. I have a feeling that this is not sustainable. Actually we haven't seen bitcoin sustained is price run. The last stop are $11700 then it quickly drop. Now that we touch $11K again, it keeps on fluctuating from $11K then go down $10800. I hope though that it will not go down below $10K and that the resistance is strong along that price.

Let's see how it goes in the next couple of hours, otherwise it will be a good buying opportunity again. I will buy if the price goes below $10K or $9K, good buying points.

Well, we cannot assume anything much now. Irrespective of the G20 meeting, the market will still be strong, and then it could even result to being positive news for the community which would stir up some development and growth for bitcoin entirely.

However, I do not see regulation as a problem as a lot of people are already beginning to take that as something that should even bring a lot of development in the community as it would create awareness.

In a normal plain scenario, I do not see anyone to have suffered the dip as long as they have not sold their bitcoin at loss. The market will definitely recover and from the look of things, it looks like it is on the verge of recovering. There is no doubt that this would eventually happen fully, but we just have to wait for it, and what we are having now are just the usual and normal fluctuations any market can have, so I do not see any need to be worried.

Well, anything is an option right now and you may not be far from the truth. I would not call it a bull trap yet or confirm the statement fully until we switch back and break the upper downtrend line we broke out from recently and dive back into it and with that, I will gladly turn back my bear hats on, but for now, I have a feelings the market is looking for a strong support for accumulation before we go back testing the upper resistances again which I believe by then, it would be easy peasy.

It really is testing the higher resistance and now that bitcoin is back at $10,657.80 USD there is a chance that panic selling will erupt again, But wish it didn't go beyond that because if it went again to the $9000 mark it can be bloody with all in the Crypto market, But if we can return to the $11,000 again it will continue up to $20,000 value.

There's nothing big could happened soon , no wonder people getting tired to wait and decide to sell their Bitcoin for a while. It's frustrating indeed especially for those people who lately join the club , investing money for the first time in crypto and have a huge expectation but the market let them down. This might takes months to recover back to $12k $13k $15k .

Such fluctuations can scare only random people. Those who came to bitcoin consciously are not afraid of its volatility. On the contrary, in such moments, you can make good money. If you do not have experience trading on the stock exchange is the best strategy is not to panic and keep your coins. The price of bitcoin is sure to recover. Maybe it will take some time but bitcoin is also your investment in the future. Where you hurry?

That's right, we need to trust this crypto because we  already experience this kind of fluctuations. Also, traders may find this an opportunity to buy coins due to it is value is low. Bitcoin may fall but once it bounced back then we can be sure that we may get some good profits.

Bitcoin has recovered already from the crash about two weeks when it touched down 5,000$ mark. It went to a 11,000$ spurt and seems pretty good for HODLers and a bit bad for panic sellers at 6,000$ - 7,000$. The only resistance i have seen for now is 12,000$ and hopefully bitcoin will pass through it this month.

The question still remain if we can sustain this level for long time. Bitcoin should be higher than this according to my own speculation but the price keep it limit within  $10,000. There is a great potential bitcoin should be above $10,000 and because of this we should be hoping for a bright future.

That's a quick dumped. What's happening? Few minutes ago bitcoin is at $10,500 and now it's down to $9,570 that's crazy and really fast. It's another massive pump to alt as well. I don't know on how long this bearish will end.

But it's back again to $9,000 and chances of going back to $5,000 is there.  :-\

It even didn't break through $12,000 so no idea on how long we have to endure this long bear market.

I would not be surprised if it is but I still want to believe that it is not and what we are experiencing now is bitcoin heading to the accumulation phase. Time will tell anyway as anything we say now is pure speculation and what we hope to expect but when the time comes, a lot of signals will indicate to us where we are exactly. I am still waiting as well to see how everything plays out in coming weeks and months and trying to get more fiat for the time ahead to load up more for the run ahead of us before the end of the year.

Few hours back the price showed signs of pumping, which crossed the $10000 mark. Though that the correction has got over and the forward push has begun. Now the price has been around $9500 with majority of the altcoins being with the red indication. Hope this will change at the earliest with good growth taking the price go reach the new ath.

I don't think so, but yeah there is no safe place here in cryptoworld everything is possible. I still hope that bitcoin will not back on $5k level again though its dump today I think it can bounce immediately. Bitcoin is a strong coin over the past year and this year I believe that it will become more stronger as a lot of good news are happening right now about the legalization of bitcoin.

I'm avoiding to say that it won't happen but chance is chance so there it is. We have to move on and become stronger day by day to endure the pain at this moment while bitcoin is roughly crossing $12,000 and higher prices. What I'm thinking is bitcoin is only waiting for those people who can endure all the dips and when its ready to move up, it will pump any moment and those panic sellers will regret that they didn't endured at all. Price now is $9,300.  :-\

Yeah, there is really no need to be worried no matter what is happening with the market presently. I for one believe that when the time is ripe, the market will get back on its feet and head straight to where it all started dropping from, but there is no need to rush and all we need now is just patience.

Bitcoin so far has not been able to break the 12k resistance and that shows it is not really ready and when it is, it won't be a hard thing to do and moreover, it is one heavy resistance to break anyway.

Yeah, so far, I also feel we are still trying to find support and the pull back from the close to $12k region obviously shows that. One thing that I am sure will happen for now is that we will keep testing the waters to see how it stirs and hopefully before the end of the month we will see how that leads, but for now, I am not expecting anything much anytime soon. I am just looking forward to how this month will play out anyway.

Most had thought that we are on recovery phase in this market. But these days were seeing again in bitcoin has rallying into going up and down. But this time it shows again below $10k, so since fluctuations occured I am in light mind set that  this market could go higher in the coming days or months.

That is why it is really important to ready ourselves here anytime as the price is really unpredictable so I don't think that we can always gain here if we are just relying here, that is why if you gain profit here maximize it for example make your own business, so you can have something when emergency comes right?

Yeah, what can help us now in the market is some fundamentals that could help instigate a huge buying and I am not seeing that happening anytime soon, the market has looked tapped out for now, so I guess we just have to see how it ends.

We should still expect some downtrend which may stabilize at some point before we start seeing another new year for the bulls but it seems for now, the bulls are not ready in anyway.

This is happening once again now however I still can't see any signs of a healthy recovery coming in. Rather some people are still of the opinion that BTC will continue to fall once again and there is still some time before the correction or the secondary market trend ends and the BTC moves again to the primary market trend. So instead of hoping for a recovery its better if we try to make profit in this bear market.

Right I also do not really see a quick recovery coming but I believe in next April the bitcoin value will peak, me and the team have been buying on hold for the value of the market to recover, it is difficult to convince the other traders that few local traders in place think the same.

Well you don't really have to convince anyone though. Traders should be aware of what to do with their money and they have to make studies of their own. If they did, then probably they'd do the same as you in taking advantage of a dip to buy.

Just be very careful trying to make profits when the market is moving like this is going to be really difficult not many will be able to do it, only those that have great skill at trading should attempt it, everyone else without that knowledge should just hold his coins and if possible buy more bitcoin at the current prices, if people followed that simple formula they will avoid losing money but I'm pretty sure that we are going to see many threads of people that will make a mistake  and will lose a fortune as a result.

I see the situation like this - when Bitcoin reaches at least 10,5-11,000 dollars, it will be the point when it will start growing constantly, even when it has some falls on the way up.

Its difficult to make a trading profit out of this very unstable btc price today, but not for the veterans trader, infact some of them took advantage against the current price flow. For most of us are whining about how long would btc crash without any idea that we could make profit out of this as well. But to make our investment safe, least thing to do is to buy at the lowest dip and hodl it till it reach the target mark.

It is on the recovery track for sure, but the recovery is slow once you go up parabolic and crash hard like that. Give it another month yet, and by that time we should be out of this rout we are currently in.

I would rather prefer to remain happy with current levels, because we definitely need something to happen in order to give the market the boost that it needs. Knowing that most people here chase quick profits, it won't be easy.

If the market keeps hovering under the $10,000 mark, traders might start to lose interest and confidence and dump out of boredom. People are used to +$10,000 levels, where everything below that mark is just a no go.

We have to admit that this market is largely hype driven, and for that reason need events to motivate traders to start buying. I think that without anything interesting happening, the boost needs to be related to LN.

Otherwise what else?

I agree that LN will really be the catalyst to see bitcoin go back to its previous luster. But I guess it won't hurt us if we just have to wait a little longer before finally rolling out.

What else? How about halving? or even another country such as big as Japan finally went nuts and finally legalizing bitcoin? Or China embracing bitcoin again? (lol). Let's see how it goes and I guess that will only time.

Experimented traders can make money in all the market conditions whether the market goes up or down, but this is why I have always believed that the bull market can be very dangerous for a novice trader because it gives the illusion that you are getting a lot of profits due to your skill when in fact the market is doing all the work for you.

But when the time come for the price to down then some people do not trade so it becomes hard for to make money with altcoin trade but it stioll give a lot of profit with bitcoin trade as the price always go up and down no matter the direction is upward or downward.

By the way now the price is again in the upward direction and we cannot now lose if we start to trade.