Bitcoin Forum

For the past few days, bitcoin prices are settling around $8,000 level representing a sideways trend after a series of rises and drops. Dan Morehead, CEO of Pantera Capital, who predicted the BTC price to hit $20,000 by the year-end talks about bitcoin’s 200d moving average flashing a buy signal.

continue : https://coingape.com/bitcoin-market-right-now-on-a-buy-signal/

Personally, ever since the price hit $6000, it was already the time to buy (at least for me) since it might be a long time again before we see such levels. Currently, the price seem to have consolidated at $7800 and $8000 and have not went under that for 3 days. If this was a bull trap, it would be over in about a day or two but nope, it stayed there as if it was its home. Hopefully this would hold, because if this wouldn't, we might see a very tricky $6000 yet again or can even go under that.

The dip was the signal to buy more. What I'm more interested is with their prediction that bitcoin will definitely go back to $20,000 by December this year.
3 months of full corrections and dips would be sufficient for the market to start rising but still we can't be confident with that. Finger crossed that all of those sufferings were through.

The MA50 just crossed the MA200 on the 4-hour charts for BTCUSD. Maybe that's what they're talking about. Great sign.

What was the "home" range again before it suddenly flew up to $20k? Was that $15k? Even if don't hit the ath again this year, I'd probably be content with 15 grand.


Sucks that I'll have to wait for a few more months for it to probably get back up. I think I need to dip into my store unfortunately.

$15,000 would be enough for me too, actually it's $10,000. Just take step at a time and let's see on how the market fluctuates.

Yup great sign indeed. And for those that are crying because of the dip, they should take notice that this is the signal for them to buy instead of living themselves in the past.

Inside the past few days and nights, bitcoin prices are negotiating around $8, 000 level representing a sideways craze after a series of rises and drops. Lalu Morehead, CEO of Lonza Capital, who predicted the BTC price to strike $20, 000 by the year-end covers bitcoin's 200d moving average flashing a buy signal.

continue: https://coingape.com/bitcoin-market-right-now-on-a-buy-signal/

For me its late but its not too late, because when the price hit $7000 below for me is the best time to do it but many people are in panic mode that they dont know what to do because they are thinking that bitcoin will die LMFAO they dont come up with the idea that it is the best time to buy and right now for sure they are regretting why they dont buy on its price dip.

Never think that bitcoin will die that easy, Bitcoin's build its name already to all the people around the world there are lots of money already invested on it and that will be the reason why bitcoin cant die easily.

very true. i believe that price was a lot lower than the demand wanted it and being under-priced means the jumps like the $1000 in 1 hour happen. right now bitcoin is still under-priced and it needs to jump more. but for the time being it seems to me that there are bear whales that keep on dumping to keep it that way. the big volume dumps on exchanges at the time of rising above $8200 suggests that.
what happens next depends on which side will win, the bears or the bulls?

it probably wouldn't happen the same way this time.
there is a bigger chance that we are going to see more of a slow rise for a long time now. right now it is mostly sideways and jumps and slow rises combined but this can potentially change into a slower rise up like back in 2015 and because of that we can see $20k be reached by not suddenly. it may take the whole year this time.
then after that we will see the big rises.

Agree, when we (double)bottom around $6000, it was the perfect opportunity to accumulate more bitcoin in our wallet. However, I pitied those who didn't jump and still waiting for the price to go either lower. LOL. Now the price keeps fluctuating around the $7900-$8100 range so I don't think that this is another bull trap that we have seen in the last 3 months. We should wait and see if the mental barrier that is $8500 would be broken in the next days. If we did then its just a matter of time before this bear market is overturn and the bulls going back at the driver seat.

But be careful. We should wait for 3 kwukduck FUD posts before we can confirm that it is really the right time to buy. Without the "kwukduck FUD but going to the opposite direction" seal approval it might crash back down below 2018 lows.

Don't say I didn't warn you.

I wouldn't go in that way. Some people here when they see a person with a title of "CEO", "CFO", "Financial Adviser" or other influencial people predicting make them believe that there prediction is right, they are also blindsided when they hear what they want to hear. We still need to do our own chart analysis before saying what Morehead is right.

Right now BTC has cancelled the H&S pattern when it rose back up again from 7,700$. But BTC not going down is not done yet as there is still a possibility that it is completing a rising wedge pattern which is a sign for a bearish reversal. If BTC hits 8,800$ - 8,900$ and falls down then it is a confirmation that BTC might fall down below 7,000$ again. This might be a good time to prepare for a short before we can see BTC to go up for good this time.

I could not agree more. I really enjoyed it hitting 6000 in sinister way because it basically helped me to buy even more bitcoins to be part of it. I am sure bitcoin will be bullish again but not now 200 days suggestion is nice.

Ever since Bitcoin breached the 10k floor, I've been happy to get more coins, and yeah, at 6k and 7k every satoshi has been really great value. Take into account the really low fees we've been enjoying for months (which I calculated has saved me about 0.02 in fees for txs since Jan) plus consolidated inputs, I've been a really happy camper, all set for the bull if it finally comes.

You're right about this still being a tricky stage. Still not sure if the swinging sentiment will result in a change of fortunes for BTC price. But if not, then it just means an extended period of great entries.

I think the price is being stable enough not to go down again in the nearest future. It didn't go up too fast, so it seems like for now people are truly willing to pay such price for the coin. Thus, it is still good time to buy, because we might be on the way of growth at reasonable speed.
Authoritative opinion doesn't matter much in this sphere, that's true. Yet I think it has the influence in the oppisite direction. SUch people are not right, because they understand the market. However, by making good predictions they gain the trust of potential investors to cryptocurrencies, which stimulates the latter to buy some btc and, as a result, the prices do go up.

This is because people are susceptible to a cognitive bias called "Authority bias".

People are used to follow whatever the experts say. Since newcomers don't have much knowledge about the cryptocurrency world, they try to look shorcuts to quickly understand how this whole thing works, and what better shortcut than following the opinion of an expect and credible person. For example, Tom Lee, the Wall Street bull who keeps saying Bitcoin will reach 25k in 2018, even if he's just speculating, these sort of statements from "experts" or CEO's will always trigger people to do exactly what they wanted: buy before it's too late.

Indeed now is a great time to buy. There is still a small chance it could drop again. But I think we'll see decent growth over the spring and summer, maybe getting back to $15k by end of the summer. So maybe doubling in the next 5 months. Once we break through those levels that should signal boomtown is coming soon.

No idea why everybody wasn’t gobbling up coins as soon as we hit $6,000. These are criminally low prices we’re witnessing right now. After the next halving we’re going to be looking at $50,000 per bitcoin.

What are you waiting for, buy whilst you can still afford to.

Time to buy, is it really now? Most people do buy when they see that the price is rising. Afraid to buy when it's at $6k because it might get lower, but not afraid to buy when it already rises? :-X Not the best time, but still good as long as you can hold imo. Anyway, I also hope that the price either hold or go higher this time.

I totally agree with that .
 Bitcoin has been giving the "buying" signals from a long time now . Every time it was as  down as $6000 and $7000 , it was the best time to buy . But you can buy right now also . It is never too late to do that . But if it crossed the trap , and increase up to @10000  it would be way to late because at that time we might be experiencing a shoot of bitcoin price again . I am very positive about that .                           

It may not look it, because the dip at $6k was a better time to buy in hindsight, but the article was looking at it in a traditional investment perspective. Us investment plebs are told to buy dips so we tend to look at things differently, but what's flashing the buy signal in this particular case isn't the price; it is, rather, Bitcoin's moving average, which is a technical analysis tool.

But yeah I'm not a very big believer of technical analysis being particularly effective on Bitcoin, so this doesn't really affect me, but it could very well attract traditional investors into the market. It's going to turn out as a self-fulfilling prophecy more so than an actual accurate prediction in this case, but I'm not complaining lol.

Right bro! That was a huge low and even though that spot was more of a gamble since the market could have gone lower, it became obvious that the market was really at that point a good buy option which I am sure those who did by now are having a good time just looking at what the market is doing before we finally switch to a full uptrend. I believe this market is good to go and even though we cannot make any prediction from where we are now, I so much expect that things should start going green anytime soon.

Actually I do not think it is necessary to draw such complex graphs and technical analysis with dozens of indicators to obey common sense and buy bitcoins once their price had fallen around 70%, because after such a spectacular drop it was difficult for the price to continue falling too much, and once it stabilized there for several days many took advantage of that opportunity to buy.

Trying to buy now at $9,000 could mean the possibility of falling into a bull trap, but I think that as long as the price remains below $10,000 it is still a great opportunity to buy.

For me, the biggest buy signal of the last days is that we're definitively breaking out of the bearish channel that begun at $20K, touching most of the subsequent intermediate highs. That "breakout" already started at $7000-7500, but it is only now that we can say the breakout is confirmed.

Actually, I consider two scenarios to be likely:

1) still my favourite: We're continuing the pattern of the 2014 bear market. That means we're forming the "b" elliott wave inside an a-b-c bearish pattern, also known as "back to normal" from our beloved "bubble graph". In 2014, this wave went from ~$300 to ~$800, and it lasted for about 6 weeks. Hence if the pattern repeats we could see a rise from the past low of $6500 to $13000 or even $14000 in the next month or so.

2) I'm starting to dream about a trend reversal. But in my opinion it's too early to confirm that. Positive sentiment about Lightning and "not-so-strict-than-expected" regulations in several markets may be the driver of this reversal. On the other hand, the altcoin market is still behaving like it was inside a bubble - several currencies that don't have the slightest chance of success still are trading absurdely high, and that is a sign that the bear market could, or should, continue.

Thank God as I am seeing change of the event as the support around  $8,000 is a confirmation that bitcoin is going to go bullish very soon.  Since the beginning of this year we have had bad time and bad market position and many has said a lot of negative  things about it but thank God we are now having positive comments coming from some experts.

I don't listen to what these rich scumshits say but he is a little right here. I can expect the market to go down again but it's in a tricky situation right now. I'd suggest anyone to only buy if they know how to make the best even from the worst situation otherwise like I said it's tricky.

i also expect to see price above $10k pretty soon and then be stuck there for a long accumulation phase. then move on to reach new ATH and all that!
for now the good news is that bear market is officially over and this time it was a rather short one at that. the drop was huge but it took a very short time to get to the bottom!

The good price increase of bitcoin is a good signal for investors to come and join in the cryptocurrency world..In the late week of March the price has steadily docked at 7k but by the beginning of April reach 8k and now on the last week it has reached to 9k this just show a steady price increase of bitcoin value in the market and this is indeed a very good signal to by bitcoin investment for the profit is very sure.. The price might reached even higher with last year December at 20k.

i think it will be over 50000 dollars by the end of the year . it creates a lot of impossibilities , on April 12, legendary investor Tim draper said at a new book launch that by 2022,the price of bitcoin would be $250000 .

Why are you sure it's safe to buy bitcoins now? We've seen bitcoin price rise to $ 12,000 this year and then drop to $ 6,000. To buy bitcoins you need to believe in their future. And then you can undoubtedly buy coins at the lowest price. Look at the twins. They bought bitcoin when no one believed in it. Now they're billionaires.

Just the right timing, I just sold my alternate coin and plan to hodl bitcoin since the market is kind of bullish in trend. Hopefully it'll increase by the end of this month and we'll gain profits by then. Just make sure to take capital or withdraw once it reaches your target goal amount and don't be greedy because there are still chances bitcoin might drop its price back.