Bitcoin Forum

We reached $8000 in the past few days leading to the conference. I remember last year everyone was hopeful about it, but the bear market spared no one. This time we have Bakkt announcements and all kinds of stuff I saw outlined here: https://cryptobriefing.com/nobody-will-sell-bitcoin-8000/

It's probably going to correct a bit, but the rise is real.

Ugh.. I thought that Bitcoin price has significantly increased its price with no reason, now this news came out and you think this is the reason behind the increasing price of Bitcoin. Don't you know that this positive trend has started from end of march? It means that this news is not the only reason. Perhaps some parties already knew that Bitcoin will have a good news this month so they start to buy since a month ago.

I think gonna get to 2017 level around the halving. Gonna be a lot of correction till there, but i think bull market will take a long time.

I think if somebody has a knack of playing day trading well during this time, he might have gain a lot rather than buy and hold.
Either way there will be gain.

It's a great time to be holding Bitcoin. I am excited for what's to come. I think the price has a lot of improvement it can make especially with such large gains in such a relatively small period of time.

Many of us have no idea, and we are justifying with some news and data, so far I didn't see any detailed analysis about this consensus pump as all charts told you that it's overbought but the market doesn't react to it. It's really dangerous when correction eventually comes, or I would say it's an off period for gainers to actually cash out their profits

No one really knew that this would blow out of proportion and so everyone was caught aback when we suddenly crossed multiple crucial resistance points. With Bakkt teasing their launch sometime in July, this would only get better and would even propel this thing further. Personally I think that the 1st of April boost was really a planned date and event and is just the starting point of this run. $10,000 is just around the corner and with more positive news coming in, FOMO would surely kick in and do its thing.

I mine. As trading is too unpredictable.  I need only control power cost to make a profit when I mine.

To the traders of the world have fun trading.

My guess is trump did this via import attacks last fri on China .

USA Stock markets sold off and put money into crypto markets.

Me I mine.

everyone should know by now bitcoins economics is made up of multiple points.
first there is the base value which is usually the acquisition costs. this is usually measured by the cheapest way to get bitcoin. either market or mining it.
mining is always the cheapest(for those with the right electric and efficient asics) but for some less organised miners there are times that some users cant stay profitable mining, meaning its cheaper to buy on the market then mine.

when a majority of people are buying coin at X that majority form a consensus that they wont sell below X as that would be a loss, and no one should foolishly sell at a loss.

right now the hashrate and mining cost calculations put a base VALUE acquisition costs still below $6k.
so with the market PRICE above $6k the difference is known as the speculation zone.

in some cases this speculation zone has VALUE. this is where the hype/reason is based on utility and features adding value. however speculation is fluid and not a hard value.

in some cases this speculation zone has VAPOUR. this is where the hype/reason is based on nothing more then hope, dreams and stories that dont hold weight. its when speculation has so much vapour that we call the speculative zone a 'bubble' that can burst and the price corrects back down to the base value.

this $8k is not currently holding weight by any real active new feature/utility that has come about in the last month. it is mostly hype and hope.

no one can predict how long people will continue to hope/believe that we are just on the edge of new active features/utility to uphold the speculative zone. but if the hope dies before new features/utility become real. the speculation will evaporate.

so ask yourself, in a calm rational and realistic way, what is actually happening in bitcoin in the short/medium term that will uphold the market price speculative zone.
think about features/utility, mining hashrate rises. and if you cannot explain the speculation without sounding like a person with hope. then dont expect the price to remain stable at these levels

That was pretty good franky1

As to whether the correct btc floor is 4K 5k 6k or 7k  it can be argued that 4-7 k covers true value of coins.

I have to agree that 8k+ is high.

I expected us to settle around 6500 for most of the next 4 months.  8200 did not seem possible.

We have had to wait a long time to see the growth of bitcoin since 2017. Hopefully we will see the steady growth of bitcoin in the following days. The market is currently receiving a lot of good news, so be happy. If bitcoin breaks the $ 8k barrier, we can't imagine what will happen next, hoping bitcoin will do that.

One will always make gain trading bitcoin than trading some altcoins in panic. The growth of the bitcoin value is expected maybe not as we are seeing it now, it appears bitcoin price growth is going to be a periodic growth like we saw in 2017, if this growth trend continues, then we may hit the former ATH  probaly by year end or early next year. Let's not forget that bitcoin halving is next year where block reward will be reduced to 6.25btc per block, so bitcoin price is excepted to skyrocket more next year and people get greedy with their holdings.

Yeah with this market condition right now, people will expect more and i'm sure they will hold even the bitcoin price hit $8,000.

Based on the image of consensus 2019 on the article yes i can see the similar pattern. I guess we will have the same scenario like on 2017.

Indeed, the correction has just began and we are going to experience the bull run along the correction. Now Bitcoin price has just be $8,023.12 and still moving, but we might not going to see another bull run we saw in 2017 until 2020 during the halving.

Bitcoin price once decided to rise. FOMO started. After that, every excuse is enough to raise the price of Bitcoin.

The discussion about the increase in Bitcoin prices is indeed interesting to follow.  I really hope that the price of Bitcoin at the end of this year will be as close as Bitcoin prices in late 2017 and early 2018.

Sounds possible mate, not really that close but possible be more than of what it happen last 2017.
Anyway, we are just too very optimistic and even we have that positive insights will never know what exactly happen in the coming days. Yet, we just be satisfied of what we've got now and enjoy the show.

The recent announcements in the media that institutional trading platforms are gearing up for Bitcoin trading have injected new "hope" into the market and investors are buying more coins to prepare for a big push, before that happens.

You got to get into the market, before the bull market start or reach it's peak.  ;)

We also know that a halving is coming in early 2020 and prior to every halving, the price skyrocket when people are reminded that scarcity is a "real" thing.  ;)

Well, no matter what it's just best to take what you can while the market is still recovering. Usually the bull-market occurs during halving and there's still plenty of time before that. It just so happen that the trend this year was almost the same as how it was last 2017 bull-market. Start accumulating and holding bitcoin, once the next bull-market starts, it will be worth it.

Very well said, we need to continue enjoying how things is moving right now, the current bull attempt makes trading more interesting again, we need to be more positive to continue buying and holding coins, the assets that we have right now will bring more value if this current market movements will showed more agressions to reach much higher.

Those news around will bring more people to entrust their investment to this industry, be positive and it will bring more benefits to your investment.

Its really good news even i was finding the real reason for this bull run . But i dont think investor are taking BAKKT seriously because its postponed  several time . May be insight says it will happen for sure . If it true then its time to grab some not all investment at this time.

I have a few bags of different alts. My hope is that if BTC corrects, the sell off will lead to a buying of alts. Then my alts will pump, I sell them for more BTC, then BTC goes back up. However, I know there are lots of people with this plan, so maybe it wont work. Thoughts?

I agree with you, but the excitement and hope still appeared not out of the blue. Almost a year there was a decline in interest in buying Bitcoin, and now just like that, Bitcoin began to be in demand. This is naturally caused by something.It is likely that a large annual consensus has also become a reason for growth.

If someone has a good capacity in trading they will definitely benefit from buying only from resetting and holding, even though earning a small profit will definitely be profitable in their daily trading

the increase in the price of bitcoin is indeed real, but the increase cannot run significantly and briefly. there must be a possible process that can be done so that bitcoin can stabilize with a significant pump.

You are absolutely right.

Of course there is always a reason why market prices rise and fall, there is always a reason behind someone to sell or buy, that is market law. Prices always move to follow the trend, and trends occur for certain reasons. if you see the price of bitcoin rising naturally for a reason, not just one reason but there are many reasons.
when market conditions continue to be in a positive condition or  positive trend for at least a long period of time, then all users certainly agreed that we are in a bull run

market doesnt need any reason to pump or dump.this is a cycle.bitcoin made ath, then a big correction for more than a year and now rising again.it doesnt need anything like sec, big news etc.

The rise is a bit too early in my opinion, i never expected the market to recover this quickly and touch $8k in a short period of time, we have seen many situations in the past but this rise is well above anything that i encounter in this market, the bear market was much longer and i never expected that decline nor the rally in 2017, the market surprises everyone all the time and that is the case this time too.

Everyone will start to see that others will want to buy more and more as the price keeps rising.
This trend promotes such as new investors and old ones to buy even more and wait for bigger price so they can take out even higher profits.
Those are the main reasons why we are seeing this pump. Also because some known companies have joined the crypto markets.

I totally agree on this, the uncertainty on the US-China trade deal really takes a hit on the US stock markets.
And as a regular investor on both assets (Stocks and Crypto). I would rather increase my portfolio in Crypto at the moment and unload some stocks. This is just me, I assume big institutions are also doing this driving the price of BTC in upward trend.

the rise is natural and doesn't need any reasons whatsoever apart from adoption increasing. this was inevitable too and should have even happened a couple of weeks ago. but now that it is happening all the rest of the positive news such as Bakkt, eBay,... are acting as the contributors to that upward movement and helping it happen more smoothly and at times even faster since less day traders try to sell and go against the market now.

Oh I have my own reviews and judgments. But Bitcoin's increase and not decrease are from China. You can refer to this article to better understand why
https://bitcointalk.org/index.php?topic=5143745.0 (https://bitcointalk.org/index.php?topic=5143745.0)

In my opinion then with US trade - China is tense. Chinese investors are trying to drain their money to other assets like USD and Bitcoin, they think the yuan will continue to devalue. President Trump has increased taxes on China in the past 2 weeks, making the yuan 2% lower than the USD. Some people worry that China will reduce the value of Chinese currency to help cheaper Chinese goods to compete with US products despite tariffs. Therefore Hong Kong wealthy merchants are withdrawing money from China

Meanwhile, China is blocking people from selling the yuan and very strictly transferring money from the country, and Bitcoin is the only way. According to calculations by experts, 20% of Bitcoin trading volume comes from China