Bitcoin Forum

"The cryptocurrency market has rallied for the tenth weekend in a row. Bitcoin (BTC) shot up about 3 % on Sunday, with the asset breaking past a short-term level of resistance. Despite this occurrence, which most analysts see as a sign that the ball is clearly in the court of the bulls, some are still wary of an imminent correction."

source: newsbtc (https://www.newsbtc.com/2019/06/02/analyst-bitcoin-btc-bears-near-exhaustion-investors-should-be-wary/)

What's your thought? Do you think that bitcoin has still its own fuel to boost up or nah?
Bitcoin is near in 9000$, will you still hold your coin or trade it now because it might fall down?

I think that Bitcoin (and alts) will see some heavy correction in the next week or so. This is based purely on a historic profile.

I wouldn't mind being wrong on this though :-)

Well, there's no perfect speculation since the market is highly volatile. However, most people believe that the historic price of bitcoin and any other cryptocurrency only repeats itself in the same manner. So, this might be correct.

It'd be nice if the price right now could hover about that level because anything over that would be harmful for the long term price. In such a short period of time, bitcoin has gained $500+, and we have seen this before in 2017.

If not now surely after it breaks $9k or $10k level it will drop at least 5-10%. That's just my opinion,I don't have any reason to sustain that but this happened almost every time in the past during this kind of periods so there is a big chance it's going to repeat again. Anyway,I personally don't think we'll see any big correction, it will probably be a small to medium drop that's going to last for a couple of days and then the price will start climbing up again.

I think the market still has some juice left. Bitcoin is facing stiff resistance at $9000 level but is still holding on to $8500 level. If the price goes beyond $8000 level then Bull run has ended, which at the moment is not happening. As Bitcoin price has been tested more than once at $8500 level. I still believe that Bitcoin will go beyond $10000 in the month of June and then you can expect price correction. Until then hodl and stay calm.  

Huge chance this speculation will happen.Bitcoin always repeat its track when its time for bullish market almost all pattern in price correction of bitcoin and alts and price pump in alts are followed so big chances that price correction will be there soon.

Not really

I'd say hold even if the price corrects temporarily. I don't think that bulls are so easily exhausted. I hope this time around the market is less bubble prone than 2017 but I remember the price rising for about a year.

If you believe in bitcoin and you want to put money behind it hodl and you'll get your due.

If you trade it it's almost the same as gambling, you'll probably lose it all, and the exchange (which would be the house in that analogy) will take their fee at best or go down with your funds at worst.

bitcoin bull run has not yet even started. i don't consider what we had so far as a bull run. it was more like the market waking up and jumping out of its bed. also considering the fact that before all the drama in January began, price was already headed from $6500+ towards $7k+ and beyond so now that we are getting there after about 5 months we are just making up for the lost time.
that is why unlike some others i don't expect any major drops but also i don't expect to see a big rise to shoot above $10k either. a slower rise is more likely in my opinion.

I thought the corrections is already ended but looking now at the price it looks like another pump can happen and it will followed by correction. Yes, history of the trend is always be seen in the future and right now small corrections can happen, don’t look for any big dump because I know the bull will not allow that again.

I am actually waiting for some corrections so that I can buy bitcoin at a lower price. And I think I am not alone many are still on the sideline just waiting and waiting for a little dip before diving into the waters. Bitcoin has been this way since I can remember, except if course if we are in the winter phase.

I'm still holding my coins because I believe in the capability of Bitcoin. Honestly, I was doubtful about it when the price slightly dropped down last week but Bitcoin, as well as altcoins, are reaching a better value now. Things will surely get better soon. The market has been through its correction period so I guess it's a profitable time for most holders.

I thought the correction is already over... Well, if that's what you believe, good luck, I hope this correction won't stay long and a bounce back will be witness again.

Still a good sign for me. Even though bitcoin bulls near exhaustion, the bullish market in a while gave me hope that it could still come back anytime. Though we really can't say accurate things here, bitcoin has been here before and my guess is it's still going up in the next quarter of this year.

On the short term we might see some corrections,  as Btc rised a lot during last weeks.

However, on middle-long term the trend will be bullish. We don't have to forget that next year will be the halving.

after a big rise like we had and an excited market the price rise is bound to slow down a little bit to "take a breath" so to speak. where traders start taking their profit out and then start accumulating more and get ready for the rise.
but none of this means the bull is near exhaustion. it is a perfectly natural thing to see a small correction like what we had a couple of days ago followed by a small short term accumulation before then next leg up.
of course many are still caught up in the 2018 bear market that want to remain in denial of the ongoing rise and keep expecting big drops to continue.

The Bulls need some incentive like a cow in season.  ;)

We need some positive news to trigger the bulls to run faster and I think we will see a sexy cow in the near future. We are waiting for a SEC decision and also Fidelity to make their move, so the cows are out there, someone just need to release them.  ;)

The farmers <government regulators> are controlling the herd at this moment, so we need to kick down the barn door and make some noise for them to see us.  ;)    

i think it will rise more in the next few months because of the incoming halving
in my opinion there are many people that are buying silently so i will just keep holding

During the price increase over the past two months, Bitcoin spent several times on a small correction of its course, so it should be able to overcome the mark of $ 10,000. After that, he again goes to the correction. After some time, will begin to grow again. Thus, this year it will move more moderately, overcoming successive price heights several times and leaving for a correction. Therefore, I do not think that he is exhausted in his growth, this is a feature of his growth this year.

this is just the beginning, I believe bitcoin has not yet reached fatigue, this is only a correction of the increase in prices a few days ago. after that the bitcoin will fly towards the moon without tripping over the correction.

Personally I'm thinking (hoping) we'll see a new ATH by mid 2020

I have a lot of coin and token, and i am already hold it for long time.
And i am sure bitcoin will up again (with correction or not). Maybe i will all in if bitcoin condition like or approaching with 2017.

i am not sure that mid 2020 is the time for new ATH, it would be earlier as per my opinion..
we have rising trend since the start of this year, and that brings optimism in the markets and on trading tables

The correction will hit hard when BTC hits 10k, you can expect that for sure, a lot of people are waiting to sell at 10k
But in general, I prefer BTC to slowly gains value insted of a crazy pump.
In a organic way, we can add more trust to people invest

a few days ago BTc has reached $9000.  but BTC doesn't last long and falls again. 
yes.  I still hold small pieces of BTC and some ETH.  now it's bullish time, and I predict that Bullish now will be long and slow.

There are bound to be correction this time but not as speculated. The correction will be minimal, and there will be another fueling for a greater Bull run towards the end of this month June 2019. All i can see right now is; the correction will be minimal, and let us hold our coins especially Bitcoin.

One can really think the market is manipulated everytime. Price dips hard Just a minute it touches $9k and now its stuck once again to the current price, if anyone panic when it happen will also sell the coins they have which is exactly what they want. Bulls aren't going to be exhausted as they were the ones initiating all these.

The market was surprisingly strong for a few weeks and you cannot expect the market to move higher all the time, we might see a dull market situation for sometime and it is expected with a price rise like this, i am not expecting a big correction now but we will see the price moving at a particular range between $7 K and $9 K as we used to see in the past.

There are times when the bitcoin market experiences bullrun, but still be careful. Because someday there will be a price correction. And we will see decoupling from cryptocurrency.

I think for the time being bitcoin will stay at the level of $ 8K, in the previous months the price of bitcoin has made a very good rally and it is not impossible if the market demand is good enough in June it can be confirmed that bitcoin will reach $ 9 K.

That's true we different speculation but in the end this correction price that happening right now is good, and I think what we see right now is more real than before so grab the opportunity now to buy and to hold.

Am yet still holding my coins, I believe we are still in a bull market, but the eventuality of correction can't be ruled out, most times, bitcoin defies analysis and go on perform excellently.

Buy orders has since thinned out on some exchanges but support for crucial parts of $8000 remains in place for the time being. 10 weeks in a row are we in the green territories and sure enough, a correction is very likely within the following weeks, though the sentiment of the market remains very bullish at this time. Still that does not mean we should be confident as a single move could shatter $8000 at any given moment.

a bull run doesn't get "exhausted" just because it slows down and has a correction on the way upwards. it is good to zoom in the charts and look at the micro movements but you also should look at the bigger picture too. the bull run is just getting started and it is getting "warmed up" instead of being "near exhaustion"!

right now the market is just calming down for a couple of days to build up the groundfloor for the next batch of rises. and if nothing unexpected happens we can see $9k+ pretty soon in the next move up.

Well, it will definitely decrease for sure after the big increase but I am very optimistic about bitcoin situation right now. The bull market today is very different from the last bull run. I also see the good news about cryptocurrency this year like people are now adapting to it. Businesses involving bitcoin are spreading so I think it still has a long way for a bull market.
We can't just say that bitcoin will drop nor increase more but being optimistic based on today's status is very important right now.

Even the bull must rest ^^ He is just resting that it all. He needs strength for fighting the bare and going on another rampage. Very angry bull lately. xD I
I think it will stay just under 10k for a while and shift slight a few hundred $$$ here and there.

It is getting quite a boring to see in every move btc made a new topic will pop up to discuss unexplainable occurrence, btc has been going up for some time now, corrections where expected at some point, it nothing new or something that requires special skills to know, Whatever goes up must come down and vice versa.

So it looks like the correction came as expected - though the correction that I'm thinking off is somewhere around the $6000 mark.

I don't think the bull got exhauted yet. There is a speculation that a whale caused the recent correction: moments before the dump, 25 btcs were moved from an unknown address to coinbase exchange, about 200 millions of dollars. Then we know what happens next: panic selling.
But once this correction finishes, the bull can start running again, that is the signal the market was showing so far.
Yes, everyone needs to rest a little to not reach exhaustion. There is a good side on this dump. :)

Well, it happens we just experience a fall down, because of whale manipulations which we are going to experiences as Bitcoin is moving up, also happens when Bitcoin was going down, but I believe we are on a bull run and it will continue to rise up, a lot of good news are coming up like the Facebook coin launching, the possibility of an all time high is still there.

The correction can happen but it will be not as great as before, in 2018. Moreover, after its end, Bitcoin will start running up again. And this time, its speed will be higher than this April and May.

For me it is already exhausted and taking some time to get going.
Maybe when it had enough rest it would have enough power to move the market once again.

We may have retracements here and there from time to time but definitely we aren't going to see any of that kind of dip we witnessed in 2018. Fresh money is coming into this industry from panicking investors who seek to secure their wealth as a result of the uncertainties of the US trade wars with China and other countries that will be included in that mêlée. Therefore, I think the bull run isn't exhausted yet.

the 2018 drop was not exactly a correction. it was a market crash due to bubble burst and that kind of drop (a big 85% drop lasting over a year) only happens because of gigantic bubbles like $20k. right now you can't really expect anything remotely similar to that because we are not even close to be in a bubble. price has to reach something like $70k to $100k before we can call it next bubble and expect 2018 to be repeated. which would probably take until 2021.

I don't collect bitcoin much. Because there are still many good coins at the moment. So I intend to buy an altcoin with my BTC. After I get a lot of profit. I am selling back to btc. Because I wait until halving next year.

in my opinion bitcoin has now entered a glorious period because for the past few days the price has continued to rise. so maybe a few months Bitcoin can return to the way it used to be or it can even get ATH again

I guess the market is already correcting itself and that's not surprising as it has happened in the past and will happen in future again

It just flashed $7,900 in the green. The bulls are in good shape!

The bull run still has the green light lit up for it to move on ahead.
No stopping the rush in of new money into the crypto market.
So we will see $9k within the year. ;D

The price keeps falling this week. I tend to believe that this price fall is due to price manipulation because the fall is so sudden. But even if it is manipulation, it has a drastic effect. It seems that the dump has stopped the steam of the bulls. But hopefully, this dump does not initiate a bear trend.

I wouldn't mind being wrong with this too but I guess, the Bitcoin is just starting to fuel itself and boost up to the sky. It's not that I am being enthusiastic and optimistic, but there are a lot of articles which supports and provided great facts that the bitcoin is just starting.
Holding is really a great thing to do if you are looking for a long term investment.

If you are looking for a long term investment then there is a possibility that we wont be able to see these kind of valuation in the future, with more markets opening up and legalization of bitcoin, you might see financial institutions investing heavily into the market in the coming years and if that happens the price would triple from the current valuation and the total market valuation could touch one trillion, right now if you can enter it is a good time to get in when the market is correcting, but even now the market is showing signs of testing the $9 K valuation in a short period of time.

Not at all. We are experiencing this short period of corrections to gather momentum for a heavy wave that could take is cross the 10k bother and never bring us there again. I am very sure that the bull run is still yet to come and a massive one of course.

Bitcoin ended the race after speeding up for many days. It achieved a price of $ 8600 before the end of the running contest. Bitcoin has adjusted prices and currently priced at $ 7800. Now Bitcoin has returned to stability and continues to be green. It may start a new race.

Eventhough they have their heavy correction this week, I am hoping that it might move up high. Maybe, bull run will end right now. I am sad to say that my ethereum did not raise up to 500 dollars. And my expected profits becomes nothing.

the same topic referencing to the same news article also exist in Trading Discussion (https://bitcointalk.org/index.php?topic=5150201.0) sf ::)
and this thread should be moved to Speculation (https://bitcointalk.org/index.php?board=57.0), more appropriate there

on the topic, I would think a pullback or correction is due anytime this month
price has increased drastically from $5k to $8k in the last month, so correction bounds to happen
it's better to have slight correction now and continue rising than non-stop uptrend and ends with sudden crash :P

I agree, if we base it on the history of bitcoin then there's nothing to be worried about since there's a possibility it will happen, though it might be sure but I thinks there a big chance for it to repeat itself. June just started so I think there's still time for bitcoin to rise up again before the month ends.

As you have said. Bitcoin is exhausted in a bull and the curreny market is suffering from the downfall. If you are a swing trader, you can easily sell you btc before the dump happened. But if you are a long term trader, you can still wait for the btc to pump. I can see btc's another bull run tl $9,000-$10,000. A correction is happening before another bull run.

Bitcoin was near $9k but for now, it is far away from that figure and besides bulls, people are getting exhausted due to the unpredictable fall in the BTC price.