Bitcoin Forum

do you believe guys on this circumstance BTC will continue to bullish or not?  'cause the price now is paused around $6600 value and it seems to me it will  fluctuate again like what happened before which is after the small pump the fluctuation of price occured.

If there will be some good news at the G20 summit, the increase in price will continue. Otherwise we will revisit sub 6000 dollar prices.

There's a 10% rise that has happened for the past few hours and I feel as this is going to be the start of bullish.

Keep on pushing the price up and don't listen to any skeptic "expert" that keep on getting the spotlight of the media to spread FUD.

$7,346 on CMC right now. I'm calling it a minor, short-life pump. This is just a result of BlackRock bullish news (https://www.investopedia.com/news/bitcoin-price-moves-after-blackrock-vote-confidence-blockchain/), which is overhyped. I expect sub $7k by tomorrow, sideways for a year and real action in H2 2019. Hope I'm wrong.

It will definitely followed by people who will take profits as they have been waiting for this price.

Nothing new, after pump followed by a dump but that can also be a short term dump if I'm wrong, we'll finally able to see the green lights until December but with some reds.

I'll believe it has legs when it sprouts them and runs.

Until then it can't always be relentless doom. Every now and then there's a wee bounce to cheer and fool a few people then back to business as usual.

If this is ETF related I'm going to be rather disappointed in the sheer gullibility on display. It's not any more likely to happen than last time, and it didn't then.

Theres no specific nor certain reason about the recent pump, everything is about prediction and speculation. We're setting at $7,300 at this very moment, but I only see one true reason about the pump. There's a slight demand happening in the market causing the price to pump as the supply was being sold. Thats the brief and concise reason for every increase of btc price.

I think this is a mid-term bull trap. We've got a solid base, and the repeated attempts to break range to the downside were summarily denied. Now we've run stops above the $6,800 level, giving us a nice squeeze today. $7,500 is another logical stopping point due to the the breakdown in June.

I believe we should trend upwards for a while. There should, however, be major resistance near the $8,400 long term mode. I plan to sell into that area and reassess.

Regarding the bigger picture, I think this is still a range market. I don't see any new all-time highs coming for quite a while.

Now sitting at $7,300. The price rise from $6,600 started few hours ago with a little bit of swings.

Will the bullish continue? Of course no one knows the answer that's why you need to test your strategy and not just because others told you what things you need to do. In my own view, obviously I do believe that a bullish trend will happened again.

People can speculate what they want. It's up to you if you will believed or not. Trust bitcoin on the way if you really believed.

That would be a great opportunity for us seeing the increasing price constantly changing to profitable value. Although we've meet the $6k price, it doesn't mean we're hopeless to gain good price of bitcoin. Sincerely were at the stage of giving up, but learning the same ways as other traders did really given us enough strength to acquire that determinations all over. Hopefully good news will take over so that people will confidently entrust their future with bitcoin without any hesitations. If it would happen that the demand rises, we'll be able to experience the bull market in the nearest days to come.

Just tell me, why do we need bitcoin's price higher than 6000$ or even more than 600$? Is it used so massively that this price isn't enough for circulation? And mining is still profitable too. The time we have to expect rise is halving, yeah, number of block reward will reduce and for this current price won't be enogh for good profit. Otherwise to my mind there is no reason for rise and this pause of growth rate is absolutely adequate.

Never in Bitcoin's history has it gone sidways for a year. The only thing close to that was 2015 which was a farrrrr different situation that today and even then it was still going up and down by almost 50% a few times throughout the year and ended the year at more than double the january 2015 low. So what you are predicting would be totally unique in the history of bitcoin, therefore exceedingly unlikely to happen.


Much more likely for the next year will be the first gradual year of a long bull market (like mid-2015 to mid-2016), leading up to a boom year in 2020. Of course if institutional investors and ETFs start jumping in on Bitcoin soon then 2019 could actually be the next boom year, but if we're playing it conservative I'd say 2019 expect a rise back to and above $20k and 2020 expect the next exponential boom bringing it to around $100k.

when we are on a slow rise, these pauses do happen because there aren't that many weak hands to FOMO buy bitcoin and push the price up fast. but as you can see as the price started gaining momentum and $7000 was in sight we saw all those FOMO buyers who were singing the doomsday song jumped back in and price went up fast because they poured the money they were holding for purchase at $5000 in bitcoin at $7000+

...Why? We've just had a bull market for 2-3 years. I'm bullish on Bitcoin in general, but why would you assume that a correction must be so short-lived? I won't rule out a recovery like mid-2013. But I certainly wouldn't plan on it either.

In any other market, after such a length of bull market and especially after a blow-off top, it's only prudent to be prepared for a long-term correction (like 2014). That's why even megabulls like Masterluc expect continued correction into 2019 (as well as conventional chartists like Tim West).

I still sense so much hopeful sentiment that I can't help but think this is a bull trap. 25% from the bottom, and everyone seems bullish and planning for ATHs? That's not what the start of a bull market feels like!

the market is getting green, there is an increase of about 10% stop trusting FUD.
I'm very sure this is a good start for bitcoin, if it does not happen pump in august maybe at the end of the year ie december, i'm very confident with that.

I believe that the speculations are true which cryptocurrency analyst is expecting for the price of bitcoins to grow even more and it will reach $50k dollars before the year ends.

I always do.

$7,300 now.

The small pump is expected and get ready of it and it seems to be visible now so if you are still holding, keep it.

I still think that we are in for more of a slow rise than anything else. which means what you see now is not a "pause of growth" but the growth itself but at a slower pace than what you are used to because of last year.
you can think of it as something like 2015 where price was rising slowly from $200 to twice that value at $400.
right now we may see big jumps and possibly big drops too because market is not yet 100% calm but we are getting there, if you see the recent jump it was the same as last time we were in $6k range but this time it was slower. last time we went to $8k+ but this time it was a slower rise to $7400.

I say if nothing unexpected happens (like a bit exchange hack for negative effect or ETF approval for positive effect)  we will continue seeing this slow trend continue.

Slow growth is what we will definitely see over the next 6 months or so. I believe when we start approaching $20k again, many people will fomo back in. Especially if an ETF is live and approved. This bear market was much shorter than the one in 2014 and it makes sense. Bitcoin had a significant amount of exposure during 2017, so there would be no reason for a long bear market like the one from 2014. I am starting to doubt that an ETF will be approved though, as the reasons why the winklevii twins' ETF were denied are still concerns the SEC has with Bitcoin today.

My prediction, the pump will start in August.
and the peak is at the end of the year is December, many are optimistic about this. me too.
and I will pass it on to you.

I believe that the market price will grow even more in the next few months because most of the cryptocurrency analyst are expecting for the price of bitcoins to reach $50k dollars since there are more countries today that has been legalized to invest.

It will continue bullish, and there are no doubts about that. but yes, it was more than scary to see bitcoin going up by more than 10% in a single day, but it was awesome
i am sure that it will be touching more than ten thousand dollars at the EOY.

There's that mode resistance, mid-$8,000s. I hope y'all weren't too greedy buying the top. :)
https://i.imgur.com/0ztQD1N.png

Not saying the bull trap is over yet. But it could be, and this was definitely an optimal profit-taking level. Time to see where support lies. I'd like to see $7,200-$7,500 tested and support to hold. Then maybe I can re-accumulate longs.

I like what I see. Local dead cat bounce has broken down, new lows below $8,000. I really like that zone of prior consolidation in the $7,000s:

https://i.imgur.com/nM1V2lN.jpg

It's interesting to see fomo in stocks today (which Masterluc takes as a positive sign for BTC), but to see BTC taking the piss here. I'm of the mindset that a "risk-on" mindset in the larger markets is a positive thing for BTC price. I have some trader friends who are getting pretty bearish on the stock market, so I'm waiting breath bated to see how things shake out.

The crypto market moves according to negative news or positive news, we currently have ETFs that somehow are re-rating the optmism that people had in the past, that's a good thing at least for now, but the biggest problem will be if the ETFs are not approved, because there is nothing else that creates some optimism in people, at least for this year I just see the ETF. that means we can go up a lot or we can fall a lot in the next few months
  

these analyst do not hit anything, do not believe them

I'm following CNBC crypto on their social media page and they have been broadcasting that the ETF has been rejected and probably this is the cause of the said down for this moment.

It was the Winklevoss twin's appeal of ETF.

The market price is depending on supply and demand so obviously, the price will drop if people will sell their coins, volatility is nature of the market so always hold your coins every time the prices are dropping.

my current information bitcoin is on adjustment to some new altcoin growing conditions and also being in legality in every country in the world whether crypto is part of a legitimate tool or simply using world technology and local government economics will actually be doing so from the results of reference about crypto is certainly the mother of altcoin is a bitcoin is certainly bitcoin will be the watchful observations and experts of economic policy in the country from the price of bitcoin itself, bitcoin proce 7k-10k till this year may be useful and successful for all of us

You are right, But peoples are sell the Bitcoin it take some time and they buy some altcoin. So Bitcoin is need for the crypto investment and peoples are not panic selling continuously this will raise gradually some investors are selling the few coins then buy it for dip. The crypto pump and dump is depends on whales and Bitcoin adoption so some positive results are comes in market all the coins will raise gradually and any issues are created in market totally down in market.

Not sure why it took so long for the SEC to come up with a decision (remember, they have granted them a review a long time ago), but that ETF had no chance to be approved, so if the price has gone down because of that, it just shows how stupid the market is. The same goes up for the other ETF's that the SEC delayed; instead of delaying them and wasting everyone's precious time, reject them. They want to make it seem like they are really looking into them but that's not really the case in reality. They know beforehand which ETF will be rejected and which not.

The only reason next month's ETF has better odds of approval, is because of how CBOE is somewhat backing it, and without this backing, your ETF will get rejected.

By now we have seen that thing has changed and we are now seeing little recovery around $7945. I think bitcoin is more of the bullish trend than the bearish trend and that called for buying now.  Bitcoin has makes significant progress since last week in the build up to August 11.

There have been a number of bull runs in 2018, but they appear to be becoming slower and reach lower peaks.

I suspect that this is just yet another such bull run, and that the price will soon be back down to the $6000s.

But, I have no strong backing for this claim. I'm just predicting based on recent past behaviour.

It wasn't bullish but a simple pump because of the upcoming ETF that has been postponed and adjusted to different date,so i guess this is the reason of price dropping now,so the answer to your questioj is no,this ain't bullish


You cant never call bull run if the only price increasing is bitcoin and not the rest of the alternative coins,this is only a normal pump

Yes, my guess is also like that. Pumps will start in August to December. Because many predict will rise. And I see that his movement is starting to increase.

I think it is a great news for all of so we can have some breathing room yet it is not entirely enough. We need bitcoin to stay up for a while and we need more money get into the altcoins. Because altcoin prices are still tied up with bitcoins for having some value on its own hence one stable price will heavily impact other.

Unless it stays up a bit more, at least until altcoins rise as well, than we can't call this a growth, its just correction. If bitcoin stays up or keeps going up than we can talk about how it is going on a bull run, until that happens lets wait and test the waters before we get excited.

How do you know that? It might very well be that we're going to stay below $10,000 for the rest of the year. I find $10,000 to be a great level and it directly shows how much growth we have gone through. Even current levels are indicating that we have grown a lot. $800 last year and $8000 right now. There isn't much more than this that we can ask for. The higher we go up the more capital that needs to flow in just to keep the price at $8000 which is something not many people think about. People here focus on bull runs without knowing what's needed to get a bull to start -- the more people expect a bull run the less likely it is to happen.

Okay, so we're dipping into the aforementioned $7,200-$7,500 area. We've got the 20-day MA here, often an important level. And we've also got an area of prior consolidation, tested in both directions:
https://i.imgur.com/XiIKVCh.jpg

I avoid catching falling knives; the downside momentum is too strong for me to do anything here. But I'm on the lookout for a potential base to long from.

Bear flagging in the $6,900s. :-\ This is not what I was hoping to see. And it's also why I don't catch falling knives. People who do that get stabbed in the neck more often than not.

Short term (1-hour chart), the last two attempts at new lows were bought, and there's a potential tweezer bottom on the 12-hour chart, so this could be a local bottom. I'm not getting my hopes up too much though. Falling through the last bull flag the way we did? That's not bull market behavior.