Bitcoin Forum

I see that the price of $BTC went from $6300 to $6600 very fast. I'm wondering why that happened and if that's a bullish sign.

Since we did not go under $5800, it feels like the bearish market is starting to run out. If we continue to hold at these levels, is the bullish market coming sooner and faster than expected?

Also, I wanted to ask how Bitcoin Future Contracts work and if there is a possible relationship with the price jump. From what I understand, people agree on Bitcoin future contracts by agreeing on a price and time to sell BTC for? Is that correct? Or could someone give a short explanation on how they work and how they can affect the price?

It is still too early to say. Earlier we saw bitcoin rising up to 6400 very quickly and dropped off again. It shows the market is still very unstable but I do hope it is going to keep pumping up this time.

100$ or 200$ increase or decrease in bitcoin price is always expected from bitcoin, it is right that it is too much early to say anything about bitcoin price. But still if it is a rally then it is a good news for the bitcoin investors, and hopeful that they will be very soon recover all their lost, because most of the investors are still holding their bitcoin specially those people who trade bitcoin above 15000$.

Lol.bullish? Last april btc jumped 1k usd in a matter of an hour yet that by far isn't a bullish indication. We even went to an all time low for 2018 after that. And i think we're back to 6.5k so not bullish at all

A futures contract is when the buyer and the seller agree to trade an asset at a fixed price in the future(after 6 months for example).You and me can sign a contract and agree to trade BTC at 6000 USD after 3 months.But,after the months,the BTC market price might be 10,000 USD,so the futures contract buyer will buy the BTC at 6000 USD and sell it at 10,000 spot price.If the BTC market price goes under 6000 USD,the futures contract seller gets profit.
And no,the current 300 USD price increase is NOT a bullish trend.

there was no real jump in the price though. the $300 rise that you mentioned here for example is just a slightly bigger rise (~4% rise) which is nothing. a "jump" is usually something bigger than 10% in bitcoin otherwise it will be categorized as the daily fluctuations.

in this case the rise that we had from $6k upwards is more like a sign showing the end of the downtrend in my opinion. and the accompanying with the strong buy support at $6k makes me believe in it more although it is hard to tell at this point.
if we see a rise above $7k that is the jump you should be looking for and there is a good chance that this rise can ignite some FOMO buying which then will create real big jumps in price.

It is too early to conclude because the pump is too far from the reality that the bullish run is just around the corner. Lets wait and see for a few more months before we conclude as the price of Bitcoin is really unpredictable in which this market current movement is very natural to me.

Is it a bullish sign, I guess its a positive but its probably just a short position being forced closed and a buyer bringing the price up.   Larger buyers tend to make the price jump like this and it shows as a rapid change.      Futures contract would just a written date to close a certain price.   So they will agree to sell BTC for 10,000 on 1st August maybe and some will speculate this is a good price to sell and are bearish on the underlying price.
Quite often the same trader might hold long and short contracts as I understand it, alot of it cancels each other out which would mean not a large influence on actual BTC sales over longer term.

We hope it will be like that,if we looking in chart we see pin bar form.and it mean buyer could beat seller at the moment.in august  maybe we will see bitcoin price above $8000.

I do not see anything bullish yet and the only time I get to see any bullish sign is to see us pull down the $6800 resistance wall with huge volume. The thing anyone should always be careful about in a bearish market is a fake bounce most especially if the momentum is not really strong to the upper side. The bears are still strong in volume and the pace or momentum at which the market value drops is faster than how it moves upward as well.

I guess we will have to live time to give us where the trend leads next, but as we are now, nothing is certain and I will rather remain bearish until further notice. On lower time frames, MACD is showing a bearish divergence and that is actually something worth taking note of.

the important thing to me is that price is staying above $6k so you can take that as a sign of a bullish trend to come in the near future. we may end up seeing another desperate attempt to push the price down below that strong support but after its failure (which is the most possible outcome) we will see a rise take place as the money gains  the confidence back and comes in.

In the past, there were gains of more than $ 1,000, which we considered a natural increase, but only because of the relative stability in the price of the Bitcoin, a rise of $ 300 is causing noise. ???
Bitcoin does not need a reason to raise with this amount "which I considered it natural" because the price was in the range of 6,600 dollars last week.
Perhaps the quick rebound from the $ 5000 level is exciting and shows that the price is much stronger than that level.

Yes, people's mood and market view is as volatile as the price itself is.

If we follow the patterns of the chart after the correction kicked in, we may be up for an attempt to $7000 and well above, but if nothing changes the trend is still down. The only certain thing about the market this year is that we constantly experience lower lows and lower highs. The only bullish aspect is that there (for now) is quite a strong level of support above the $5500'ish low we marked back in November of last year.

I find $5500 actually a fair price and would consider everything below that an extremely strong buy, and I'm sure there are more potential buyers thinking alike.

I don't think so. If we're still in the 2014-2016 era, a $500-$600 increase would surely be phenomenal and a sign that bullish traders are around. However at the case of bitcoin right now, the said jump is pretty normal reaction from the bulls wanting to somehow regain a good baseline of the price and still retain the market's confidence about the said coin. It's far-fetched for the bulls to make a move right now specially that there aren't any good reasons to make a push any no good news to complement it with.

In my own opinion, it was not a bullish market but there are tons of whales who are waiting for the market price to drop so hard before investing a huge amount so keep on holding your coins today.

In my honest opinion about the movement right now is that, This is not a bullish sign or what so ever if we are looking at the past charts it is too early to really say that we are now going to a bullish trend, This kind of movements might be because there are bitcoin buyers and right now the price is cheap they are accumulating bitcoin when the bullish trend starts, On second thought there might even a manipulation regarding the sudden changes with the price.

Yes,  this has happened and since the day before yesterday bitcoin could not move up.  The was a little corrections below $6500 and  I don't think bitcoin has the power to move up. There is going to be a little downward movements in days to come because of volume and decrease in moments across all the exchange.

What sign are you talking about? Do you want the price to go below $5000? It is expected that the price will increase since the bitcoin is unpredictable. Now if you want to get into the details, there is the so-called "Price manipulation". Big investors are manipulating the price. If they want it to increase, they will buy bitcoin, and if the want it to decrease, they will sell so they can buy low and have bigger profit in the end. Everything is connected, and perhaps they are buying btc at the moment.

Base on my research 50% holders say yes because the price jump back to 6k and made small pump after it goes down to the 5k value ,and 50% also say no because alot of reasons such negative behaviour of the market before it continue to soar such as bull trap and etc  . But in my opinion this is a bullish which is a mini bull,  and I believe it will jump suddenly again to the top without any struggle.

If this inverse head and shoulders plays out we could be revisiting 8k. After that it is likely that we will continue the downtrend and make a new low (looking at 5400-5600) and bounce again.

price has been rising slowly for a couple of days now. it may not be a strong bullish sign but it is a good sign if you ask me. we are at $6700 at the moment and heading towards $7000.
i was afraid the FOMO buyers were going to wreck the market again by shooting the price up to $8000 but it seems like we are in a much better market state with so little weak hands. this means two things a slow rise and no more big drops.

Yup it is indeed normal but when in a bearish market that is not, having a price jump like that with a continues fall is something investors are not expecting unless you're part of the them boosting bitcoin and getting its price go up over $300. I suppose it's not that easy to recover from that all time low but isn't 7 months not enough for a unstoppable recover?

I was looking at small baby steps here. Perhaps $7000K will be realistic before jumping to the range like $8000-$10,000. IF this trend continue then we might be seeing a start of a bull run. Its really a good sign because and just hope that this is not just a artificial pump otherwise we all know what's gonna happen next. As for the FOMO, this might be want they are looking for so some of them are already riding the hype train. But as @BrewMaster, said, we prefer a steady growth and I don't like them to wreck this solid increase that we are witnessing.

Yes, there has been some positive sentiments in the market from last few days today it crossed 6700$ hopefully it can hold these position.

Bitcoin futures does seem to have some sort of effect on the price of bitcoin. as we see since the bitcoin futures were introduced the price of bitcoin has taken a toll.

It might bullish sign If the FBI have finished conducting their investigation on 130 crypto currency, I will said you're currently experiencing a partial bullish market and it next week market status will make us know if the bullish is here to stay.

Sure a fake bounce but also dont ignore confirmation of a break either, sometimes we retract to check the sellers are wrong and price finds support.  Some bias to the upside seems fair here till proven otherwise.

https://i.imgur.com/0AAKw4U.png

Theres a reasonable view to draw in a channel here or at least a regular trend upwards to measure strength by.   The blue line is momentum of this move since early April which we are above and is showing the rise

I'm guessing it's another beartrap, maybe a mini bullrun but it will be over soon and we will see lower lows. I'm still guessing it goes below 5k, somewhere 47xx-48xx is my guess. Isn't backed up by anything, just a thought from reading different TA articles etc.

of course because here in crypto market there is no permanent situation due to some cases, but as long there is a opportunity to obtain profits, i think much better to grab it immediately and be greedy. Instead of waiting for the market to become stable 'cause it's impossible to happen especially nowadays " the market is so volatile".

This is a good condition and for me that when it can become much more stable then it will make the bitcoin price becomes more robust and could be avoided from the next dumping. This must be maintained because then market conditions will continue to get a positive stigma.

Well, maybe there are more to come. July might be a good month for us in the crypto community. We hope to hear better news this month. Haooy mooning to all of us.

The price of bitcoin starts to rise, from july starting itself the market starts to recover moderately. Now the price of bitcoin increases and the market is in green. After a long time ut would happen. Hope in upcoming days and months the market will show its growth. Dont sell the bitcoin now just hold it still market needs more growth. If possible buy bitcoin now and save it for future. It will be more useful in future to earn more money through bitcoin. By the end of this year we can expect the tremendous growth of bitcoin.

Its a very good news and very happy to see the price of bitcoin starts to rise. This rise will continue in following days means the bitcoin will sky rocket again this year also. I think this is not just a pump, little by little the market starts to recover. So if you have bitcoin already just hold the bitcoin and save it for future. Once the price of bitcoin will be high you can sell and gain more profit. Till that you have to wait patience still the market completely recover.

It's possible that the price could reach about $7K or make a curve back down even if it has been going upward. With this bearish trend, the price may still go down before going bullish (which has been expected to happen by the end of the year) The recent rise may not be strong enough to indicate a bullish trend just yet. It's just a matter of resistance and support now, which could probably push down to as low as $4.5K to $5K? The pace is good for now as it's heading towards a slow and steady rise.

If you want to considered that as a good sign then it's fine. We have different views after all.

But honestly, that price movement is just normal. Jumping to range of $3--+ isn't really surprising at all even coming from a bearish market. That is a usual price movement. You can also see some price increase action in just a matter of less than a hour so for a 24h interval, that is not surprising.

My suggestion, just go with the flow and watch carefully the price especially if you are planning something. No one knows if a certain trend will now come to end. Don't take away the chances that a dump will happened again, well as usual in bitcoin price movement.

I think it is too early to be a bull run. If this is really it, then you are right maybe it will come sooner than we have expected. But if that contract things happens, we cant sell as we please. I think there is a possibility that the value will gets lower during the time to sell. Did I misunderstood how it works or what?  :D

The price will have to go down before going towards higher value. It may go up more than that price and hopefully we will be experiencing much better surprises, just like what had achieved last year's legacy of bitcoin. Some analysts might wonder it's controversial bubble speculations, but it provides profitable benefits to every people who've entrusted their future earnings with bitcoin. That steady rise is a signs of continuous rise of demand, and if this will be in demand we'll be expecting $19k towards the infinite value that we might be reaching of; it might be $20k or the predicted $60k.

Everyone is looking forward for the bull to come in the market.
Before we consider this as a sign of a bullish run, lets take a watch the market for a week first, and when there's a continued progress, then it must be the end of the bearish run.
Some market analysts said this is just a dead-cat-bounce. A temporary pump after the bearish run with a continued downtrend. I hope not.

Just sit and relax because we might be seeing it soon that we'll be experiencing the great price increase of bitcoin. Hopefully bearish market will be just a part of bitcoin correction before hitting up the profitable market value. Temporary pumps may attract mote traders to hold, and I am very confident that this current challenges that we're facing right now will be our greatest strong hold despite of the unpredicatable fluctuations that we've got.

At this stage, anyone who is even smart should be careful of any quick pump in price which could end up being a dead cat bounce. There is nothing bullish about this market even in the short term at least for now. We are still bearish in a huge way and the bulls are not even considering yet if they should be entering the market or not at any point in time now. There is still a huge chance for the market to go lower anytime soon, but I am looking forward to seeing the price action on $5k.

Bitcoin recent price jump is indication the bear market is over and things will start moving in positive direction anytime soon.We need time to confirm if what the price increase was a bullish sign or fake out.

i hope it is. though i think this is only for temporary reason or a fake out as you said because as what i notice today , the price do still drop again.

the is still volatile and i think it will work this way until we reach the last quarter of the year.  I have a strong feeling that the price of all the cryptos can jump only on the month of december and it will fall again after we enter the year 2019.

You are contradicting yourself. If according to you the bear market is over, why do you need a confirmation then?

There is a lot needed for the bear market to actually turn around, and the best way to move forward is to quickly start buying through the $7000 mark. And even then it's still not a sign that the bear market is over.

If traders continue to wait for the price to fall down lower in order to start buying, which means barely any new capital is buying up the circulating supply, we will face some difficult months.

Maybe that a few more Tether injections will form a trigger strong enough to push the price past $7000 in the coming weeks, but it's important to happen in order to not let traders dump their coins out of boredom.

We need a big confirmation if bear market is end already because the market is very volatile but the good thing is bitcoin is able to sustain above $6400 level, Hopefully it will continue. A lot of positive news right now and this can help the market pump. Its ok if this pump is fake because we can still have more opportunity to buy bitcoin at a cheaper price, no matter what the trend right now go for long.

There's a lot of news indeed but I don't see any bullish movement happening maybe we will pass this year with $6000 price mark. But I really don't think that there will be upcoming huge pump coming by this year since unlike last year we have halving news and many more unlike today where the news is just for short term fud with no proper supporting documentation and buy orders.

We never just loss our hope and still be positive, even though we don't see any huge pumps until year end but today's price is still considerable. We don't need to have a high price cause it only give us big losses when it goes down. It is better to stay at $6k-$8k and it give chances for small and newly investors to take participation.

No.We could not term it as bullish trend as we are seeing many frequent ups and downs in the price.Just before two weeks,many of us termed that bearish trend has ended and big whales are trying to rebuy bitcoins and so price will move in bullish trend.But making every one surprise,its price ince again fell down.

Do not be so much deceived by any serious jump right now, and what kills a lot of new trader is over activity. At this stage of the market, it is better to always allow the market to develop than assuming anything. We are in a bear trend and being careful in a bear trend should always be the thing for most traders and investors, which is better to see a clear signal before entering a market at all. There is absolutely no clear signal right now as the case may be, even not with the quick jump.

Yes, the period of the price's jump is too short to start to tell about coming back of bull market, the raise should be constant during some longer period of time.

This pump was a normal pump bitcoin will stay at 6200$ to 7100$ for 2-3 months, price of bitcoin start increasing by the end of December and in the mid of January bitcoin will be at 10k$ min. And one thing more some analyst predict that price of bitcoin cross 25k$ this time by the end of 2018.

Do you have any proof bitcoin will going to moon on end of December. This year many issues are occur in the market but this will raise in may month so we don't predict when it will going to moon. My prediction is August month this will raise gradually so I hope as soon as possible  Bitcoin will reach 10 USD and end of the year it will reach 20k USD.

Well six days passed since that, and the price is still on that range - $6500 - $6800, so i think that it is not a bullish sign. Maybe we are going to go higher in the next few days but it does not mean anything after all. Let's wait aa little bit more until we can see what happens next.

It’s a very good news and very happy to see the price of bitcoin growing. This raise should continue following days. If this happens then bitcoin will sky rocket again this year as well. I think this is not just a pump, it’s seems to be a recover. If you have bitcoin already just hold them and save it for future. Once the price of bitcoin goes high, then obviously you can sell them for a valuable reason when the value goes up.