Bitcoin Forum

It seems the bear market keeps on engulfing the cryptocurrency industry, there is no sign of recovery from some of the major altcoin and the support level were tested.  Here is an article regarding the current analysis of cryptomarket cap.

Crypto Market Cap And Bitcoin Facing Resistance: BCH, BNB, EOS, TRX Analysis (https://www.newsbtc.com/2019/10/02/crypto-market-cap-and-bitcoin-facing-resistance-bch-bnb-eos-trx-analysis/)

Important notes:

I don't think Crypto is resistance to what is happening in the traditional market, the fear of recession seems to be entering into the subconcious of investors and they are factoring that into their decision making, new money is not flowing into the space, because during recession Fiat is the king.

I've seen the price of BNB few months ago doubled but now it's lesser than that. But I'm more concerned with bitcoin, this is the foundation of the market and all of these alts are putting themselves at the back of it.

I'm not so very good at analysis but all I can say that we're still good unless we see it go back to $5,000 or below. We are at the very last quarter of the year and I'll remain patient and will wait for a good run.

Thats right, but i believe crypto market cap will break the resitance level mate in this Q4 of 2019
Then continue growing,,
Anyway let the time show us the answer

I'd say that resistance is just part of the current trend or cycle we are in. When the bulls come most likely those big sell walls will immediately disappear anyway. Just checkout trading view and other opinion columns on bitcoin price, it seems we're in for a huge upside with the incoming halvening.

But don't take my word for it, just google bitcoin trading analysis and then you'll see.

I hope history will repeat, i think when we look the chart some pattern is same as happen in 2016, and we hope bull run coming again this end off year

BNB was hailed as one of the brightest coin of the year with the potential to reach as high as $100 supposedly before the end of 2019 but right now, following the trend by Bitcoin, it is also pulling back and is currently at $15.63 (https://coinmarketcap.com/currencies/binance-coin/#markets) as I am posting this. The same thing happened to Ethereum which has no choice but to also go with the path trudged by Bitcoin and is stationed at $174.71.  (https://coinmarketcap.com/currencies/ethereum/#markets) Right now, Bitcoin is holding on to the $8,200 level though there is that continuing pressure for it to go lower.

As we are entering the last quarter of the year, the market is looking for some good developments that can be the catalysts or bait for the bull to return and make a roar. Sadly, the last quarter is known as a lull period and that can mean that we might not be seeing some good upswing movements in the next three months. Though we have to remain very positive here as long as the fundamentals have not dramatically shifted in my view we can be fine looking at things long-term. I am now fixing my eyes on 2020 and the things that next year can bring to cryptocurrency.

Currently there are many comments that the above alts will go on with the nearest support level. meaning there will be a strong dump in the coming days. But be aware, the more judging about the dump market, the shorter the rate will be and I believe the whales will go against the market. they will pump coin to win big on margin trading. This is common in the crypto market, so I will buy a lot now to prepare a big pump ;D

Before you say this, it would be nice to take a look at the Bitcoin chart (as an indicator of the entire market).
In the Q4, almost every year, interesting events take place on the crypto market. Given that there are forecasts of the global economic crisis, we can expect a lot of interesting things in the near future. ...And in 2020 too ;D.

Let's not jump to talking about a bear market yet. We've still recovered from a $3k low all the way up to $8k.

The main theme of the bullish run up I think is the fact that BTC significantly outperformed all altcoins, which is quite rare if you think about all the previous pumps where alts have been the destination for investors to park their funds in when it came to FOMO time. Even in moments of FOMO, the past few months have been absolute hot garbage for the majority of alts, especially EOS.

BTC's main resistance is still at that psychological barrier at 5 digits. I don't think that it's very likely that it'll be broken this year, but given the fact that halving is nearly half a year away, it's very likely that we'll see a recovery as a matter of time as the inherent rarity of BTC increases.

I knew the pump was a pump,,, anyone who thought it was real growth must have been kidding themselves. As soon as Binance stops becoming popular BNB will lose value very quickly, worse than it is now currently.

Bitcoin could fall to 4k or 3k again, I do not dismiss this possibility but resistance now is better for when the true recovery happens in 2020/21!

I am expecting this to happen too, but it seems like the market will do the last dump to clear up our space from pile of shits and gathering our resources into one place.
(there might be some changes happen with the chart but will not change our overall situation)
for Bitcoin to regain its price is very easy, but right now we have a lot of altcoins and the investors are divided into many groups.
So maintaining the price is absolutely hard considering its current state, this is why I say we are going to see another dump next month that could change the pattern slightly.

I think there is nothing to worry about with current prices. Remember where we were back in February. I would much rather see a slower climb this time, with periods of levelling-off such as we're having right now. We all remember from 2017 exactly what happens if we have a big rise that happens relatively quickly and is just uninterrupted growth - it ends up climbing too high, and then once everyone realises this, no support level has been established below, so no-one knows what would be a reasonable price for everything to fall back to... hence the ensuing year-long bear.

yes you're right, let time do it. we just need to wait patiently. there will definitely be resistance from crypto. Q4 will be a market reversal point, and beginning in 2020 we will see bulls again.

You seems to misunderstood the topic, resistance on that is the huge sell wall hindering the price going up or vice versa.


It is because  BNB price was heavily manipulated.  It was heavily pumped and was going up when Bitcoin price nosedived.  As a result of a manipulated pumped price, it cannot sustain thus it goes down until what it is right now.


This is just pure manipulation but I am hoping for that.  Bitcoin halving and bitcoin going bullish  means funds going out of altcoins, so probably we can be see altcoin to continue to bleed.

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Locking this topic now.