Bitcoin Forum

Even a price run to $9,000 will not be enough to break Bitcoin out of its current bearish pattern, according to a popular analyst. Despite a positive start to 2019, the leading digital currency has spent the second half of 2019 in a sustained downtrend.

After the first half of the year saw a rally that took prices to near $14,000, Bitcoin been setting a series of lower highs in recent months. This, according to widely accepted market analysis, is a defining characteristic of a bear market.

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Okay I just don’t know if this analyst is crazy or not?

I respect the fact that anyone can predict on what is going to happen with Bitcoin in the next hour, day, week or so.

Even that if it reaches $9,000 per BTC, it won’t be enough to “escape” from the bear market due to its bearish pattern. For me, either he could be right or wrong.

I just cannot say that I am going to agree with him or not, but anything can happen in a matter of time. There are analysts who claimed back then that Bitcoin could even go down further. But they’re proven wrong when $7.7k turned to almost $10k due to China’s pro-blockchain news before taking another nosedive.

Let's see first if we can break the $9k barrier prior to the end of the year. The thing is that we have seen many times in the past that we thought we're already in the bullish/bearish pattern, however, the market moves in the opposite direction. Which only means  that the market price is really hard to predict, no matter what this so called experts are telling us.

I don't think he's crazy, but I don't agree with his opinion about the "what if" part of bitcoin going to $9k.  If it were to do that tomorrow, that would be incredibly bullish and bitcoin would likely end up much higher than where it started in 2019.  It looks like it's going to do that anyway, but it would be some sweet icing on the cake.

He did mention that bitcoin is up a lot from the start of the year, and it's good to keep that in mind when looking at where bitcoin's price is now.  Even hovering around $7k, it's still higher than the $3200 range that it was at in January.  Never mind the fact that it popped up to $13k, just draw a straight line from Jan. to Dec. of this year and that'll put things in perspective.

Uh, yeah.  That probably isn't going to happen in the couple weeks we have left, especially not with the price dropping a couple hundred dollars in the past two days or so.

not possible to have $9k price by year end. unless we all sell that high.  it may even go below $6800 tomorrow because it seem to break the support.  if $6500 will also break then expect the $3k.  jesus, no christmas this year. the popular analyst is right this bearish pattern will once again try to break the $3k support. lucky are the ones who figured to exit at $9,000.

I also do not believe that it can reach $9000 at this point of time we are barely 15 days before the end of the year and I don't see big news that will have an impact on the price to go up to that level, but we have seen how the price moves with just one whale or group of whales, but it's a good way to end the year if we can reach $9000 before the year ends.

Bitcoin prices would probably remain low till February or till the Chinese new year. Can't expect anything above $8K on that time. But it would start to increase after that as bitcoin nears the next halving. I believe bitcoin price would be well above $10K around may 2020.

Let me share my thoughts here about bitcoin price prediction really it will be difficult job to predict  Bitcoin price what will be in coming days at this situation because there are so many negative talks coming from China about crypto currencies and other part of world from few weeks ago it impacts bitcoin price drop significantly from $10k to $7K, and same thing will continue to some more days and I hope that next year will great for all crypto users because there are loat of crypto experts given positive talk about bitcoin price prediction and bull market market.

The price is now at $7,128. 61. I want to say that with the way price has locked on the $7k area since this month, it might remain like that and won't break the $9,000 till 2020. It has been a bear time that has taken a lot but price isn't increasing.

I never thought we will still be at this price zone, looking at all the major price predictions from the expert that we were headed to $100k, although this was John McAfee's stronghold, as it stands now it seems expert are once again bearish after their speculations fail to come through.

With the holiday season fast approaching I don' think it'll reach the $9k mark at the end of the year. Most holders will definitely sell what they own so it'll be more supply than the demand in my point of view. Hope we'll get some positive rates at the beginning of 2020.

Bitcoin is indeed a lot of fun, this can be seen by the number of speculators or whatever its name predicts about bitcoin. although predictions made are not always true and even tend to be inconsequential, there are still many who are happy to hear that prediction. especially if it comes to say that there will be a very sharp increase, added many are happy. I don't really believe in predictions that bitcoin will be up to $ 100K, it's too difficult to imagine that this could happen. I just hope that bitcoin can still benefit many people.

They can see that this year will end at a lower price so it looks like everyone of them became bearish lately and the other known experts are predicting for 2020 with another positive speculation. I remember those predictions earlier this year to become positive and when the end of year is approaching, they started to change their ways and be quiet.

No matter what happen in 2020, these prediction experts will just do the same. They'll predict another higher price and if it's looking to fail, they'll just pass it on for the next year. And telling that we're still bearish, he wants to end seeing bitcoin on $7k but we're still up since the start of 2019.

He is crazy but more likely a permabear. For some people the glass is always half empty.

You can see that he's biased by the way he talks about it. It's in a bear market because it had a series of lower highs IN THE RECENT MONTHS.

What about the last few years? Since 2018 we had a clear bear market that reached a stalemate at 6000 and then went into capitulation at 3000 dollars. After that it went into consolidation that many people took for a reversal and another bull market. It created this short overbuy and now price is returning to the mean at 7 thousand. It can become oversold again and go to 6 for a while but that's it.

I think the pro will just bounce around in a range such as $7000 to $10,000 until there is a reason for the value to increase significantly. I think that time will be the halving in May 2020.

Well i think he is just making his thoughts just known like anybody else but that does not really affect what will really happen to bitcoin as nobody knows. The market will always decide about that. However, it would be very gracious to sell of some bitcoins for this Christmas at a rate of $9K other than $7K ???

bitcoin is very difficult to predict, maybe your opinion that bitcoin will finish the end of the year will still be in the range of $ 7K and will not move or exceed up to $ 9K. but I might not agree because in October it also happened when bitcoin fell to $ 7K, which only took three days to break through $ 9K. December is still half a month away and the possibility of anything that can happen, can penetrate $ 9K or even down. but need to be optimistic about an increase in bitcoin.

It is an analysis that is particularly free to do so, however, it is good to use those tools offered in TradingView as the Volume Profile, it gives an overview of what may be happening and where there is interest in the order of prices.

Of course it is a tool that varies according to the period chosen, be it weeks, days, hours, minutes, but it is a tool that can help, however the volume that can be observed gives us incredible information, in my case I use the Wyckoff's theory, and right now I'm using it in fractal at 4 hours, in the long run it's another story.

However, it can reach $ 9k, it is possible because it is a really unpredictable market, and many times analysts who talk about bearish movements end up happening otherwise, then it must be established that the market can move in many cases because of people's emotions , and the whales know this very well and place their bearish or bullish traps ... Hopefully this month for being from Xmas, the demand increases and is reflected in the price of Bitcoin with a good bullish rally.

Anyone can give their prediction or speculation and be a self-proclaimed expert but believing them is another story. If you have been long enough, I think you will just ignore those "experts" and trust your instincts when it comes to deciding how you will invest in crypto. Most of the time, they are completely wrong with their predictions.

If we tried to listen to them( market analyst), we will be the ones who get crazy. We have only 2 weeks left before we end up this year but the market support isn't strong to think that we could able to surpass even $9,000. Its gonna be a Christmas bonus if we could make it... :D

May our speculations are different and the fact that we can't get assurance for the possible result, there is no need to think that we are right or the others too. If the market will remain to be like this until next week, we can't expect that we can break through $9,000.

Nearly every professional trader can predict prices exactly as you say. I sometimes wonder how they can predict the price of Bitcoin only from charts.
After I studied deeper, it turns out that every movement of the chart is part of the market itself. Without me realizing that charts are the language of the market itself. Therefore sometimes most traders share their chart predictions rather than share news about a coin.

I've read the article and seems the analyst has a good point tho. About the analyst claimed btc could go down but turned out the opposite way. I'm not surprised since the market is unpredictable and most of the time our expectations often turning the other side. One reason why I rarely believe on what I've read even if there's a back up on their claimed.

He ain't crazy, if you will think $9k isn't enough to trigger the hype and erased the doubt of anyone that we are getting out of bear market.

The descending trend line from the $13,000s is in the $9K area now, so the theory checks out. We need to break above $9K with authority before getting too bullish.

https://i.imgur.com/OFuoQeP.png

I think it's quite difficult for bitcoin to reach $ 9,000 and I also think otherwise maybe until the end of this year bitcoin will continue to decline until the price of bitcoin becomes $ 6000. because in my opinion at the end of the year most people will choose to take a vacation and spend time with family. and rest from the world of cryptocurrency. and I think at the end of this year there is no news or something that can push the price of bitcoin to $ 9,000. bitcoin will remain at $ 7000 or drop to $ 6000.

What we need to know is that there are big players who can pump suddenly, anything can happen as long as it hasn't changed to 2020.
Not impossible, speculation happens every day hoping that there is enough volume to dump and pump. The end of the year in my opinion is a crucial time to conduct transactions because there will be a lot of turmoil.

$9000 is just a number and it doesn't matter at all which number you choose. the only thing that could kick start the next rally is HOW price gets to that number. for example right now that we are at $7k price levels if price were to slowly creep to $9000+ over a couple of months then it won't start any kind of bull market or any FOMO. but bitcoin doesn't work like that, these rises specially when coming out of a undervalued price (ie reverse bubble) are happening fast and big. so if price goes from $7k to $9k in one day (which wouldn't be the first time) then easily kick starts the bull run and the FOMO begins that would bring the price up above $10k in the next day and by the end of the week market is in full on bull mode.

I think he is right, we need more than that to reverse this bear run and restart the bull trend. We reached 12K this year and that was not enough to have a sustained bull run. It is still nosediving after that. Slowly but surely going down.

The analysis is correct because if you look at the weekly chart, even if we hit $9K, it would still be a lower high. We would need to break and close over $10300 to make a new Higher high and hopefully get out of this bear market.

Back in 2018 it was no different. The $6K support was basically followed by many failed newer highs and it was the hint that eventually out of the blue the $6000 would break which it did in a random day in November 2018.

Looking at 2019, we hit a new higher high when we broke the $4K area and this is what led us to $14K in a very short period. So nobody knows what will happen but its the general view most traders are looking at.

It is very difficult to determine the price of bitcoin at the end of this year, with there being $ 9,000 the market is still the opposite and the rally will never exist at the end of this year, I can only predict that in March bitcoin will start at a high level but that also cannot determine whether this resistance will really exist.
Halving in May there are still many polemics about the price of bitcoin and where the price is actually I can only state after halving occurs bitcoin returned to normal.

Don't know about you guys, but sounds like good news to me =p

Bitcoin run to 9k = good for me in Dec and January, will be able to sell well for a nice 10-15% unexpected bump. Managed to delay sales for Dec so have to make it in a couple of weeks to pay bills.

And then if price dips back down, I'll be earning at a lower point. Win-win. Anyone still accumulating will probably be relieved too.

yes you are right op everything can happen in the crypto market. I also cannot approve or reject the opinion that bitcoin can reach $ 9,000 but cannot bring bitcoin to the bull market. bitcoin prices are very volatile and it is very difficult to guess the price of bitcoin at the end of this year which is only lacking a few days. it could be that bitcoin rose suddenly to $ 9,000 or it also dropped to $ 6000. we as small traders can only wait and speculate.

There is no confirmation that bitcoin is going back to 9000$ rather chances are that bitcoin may decline further to $ 6000.00 or $ 5000.00. Recovery to $ 9000 will be a big oxygen for crypto investors. 9000$ will not be enough for those who have bought bitcoin in latest bull run, when bitcoin peaked at 12000$.  

Very unpredictable market, honestly I will be happy to see BTC to reach 10k before the year ends but it seems that negative sentiments is very strong and its pulling down everything slowly shattering bullish dream citing another bearish Holiday for hodlers.

Bitcoin is very difficult to break the 9k barrier by the end of 2019. There are only 14 days left until the end of 2019 but I do not see any signs for bitcoin to rise. In addition to the Christmas season is approaching, people will tend to sell bitcoins to collect fiat currency.
I think bitcoin will only increase to 9k by 2020, maybe by February 2020 bitcoin will reach $ 9k and by the end of 2020 bitcoin will cost $ 15k.

Still far from being hope to reach $ 10000 bearish will continue to continue until the beginning of the year and on this holiday as a BTC holder is a nightmare because btc that has been much awaited turned out not to appear in the good direction.
Perhaps the highest level this month will only be stuck at $ 7,500 and it can still go down again.

We are seeing a lot of greed with those new analysts by now.
It is not really about the future of crypto currencies anymore but more on making profits.

Having that large of amount in just one bitcoin is already something else.
If you are looking for more then I bet you did buy at the highest price last 2017. This might be also why they are talking shits like that.  ;D

There's no chance that bitcoin would hit $10,000 this month if you look at the price movements for a week. Prices are moving from $7,000 to $7,500 so if there's a drop of price or a breaking of the resistance or support level then we will see a new price but it's far from the $10,000 that you are expecting.

Are we expecting something like this in the near future, i literally do not see a bubble in the next few months and it is possible and we have seen in the past that the market recovering in a day but then we will see the market going down with the same intensity and that is the reason i am not a fan of instant recovery. Major resistance are around $10k and then there will be at $14k and if it breaks that then we might even tough the old all time high valuation.

What do you mean by enough is the real question. If you mean that if we go to 9 thousand dollars we still have a chance of dropping once again, you are definitely right.

Bitcoin once hit 20 thousand dollars and went as low as 3 thousand dollars, so sorry but whatever the price of bitcoin becomes there is a chance of dropping significantly, we can't stop bitcoin to drop or change since in the end we seriously don't have any control over it. That is the beauty of bitcoin tho, nobody can control it. So in the end, $9k is not enough to make sure bearish stops, $20k is not enough, even a million dollars is not enough, in the end there is always a chance of bitcoin dropping 50% in value at any given second even while I am typing this down. Don't look at the pessimistic part of it, look at the fact that 50% increase is also possible.

I cant see any possible catalyst or causes for btc price to rose up on this last days of this year on reaching it out on 9k.
Good to see if we do able to rise up like that even on 1st quarter of 2020.I dont believe too much on to those so called
popular analyst or whatsoever yet anyone can make such prediction like that.We cant still say yet that if we do hit 9k
price which does mean we are already out on bearish market.It might hold up or rather have a breakout all the way.

it is unlikely that the price of bitcoin will penetrate $ 9k before the end of the year, so that means this year bitcoin cannot get out of the bear market. but in my opinion if bitcoin has been able to reach half of the ATH it can be said that bitcoin has come out of the bear market and is walking towards a higher peak. hmm  ::)

Yeah, the whole substantive point of OP seems to be filled with nonsensical presumptions regarding bitcoin supposedly underperforming where it "should be", and you are correct, justdimin, that there is no real "should be" in bitcoin.  It's going to do whatever it does, and sure whales are going to  attempt to manipulate it one way or another to their benefit to the extent that they can and while they can, but there are going to be times that they can no longer manipulate it in the downward direction and at that point, there is no real choice except up.

There are some truths to the 4-year fractal pattern model and the stock to flow model, but there are likely going to even be attempts to cause those models to NOT be true, at least for a certain amount of time until the BTC price ends up gravitating back to the various projection points within those price prediction models.

There also could be points in which we figure out that either the 4-year fractal pattern and/or the stock to flow model are not correct in their BTC price prediction assertions, but so far they seem to be holding up pretty damned well.

Bitcoin naysayers, of course, will assert that the models are good, until they are not, which is also true, but if many of us are bitcoin buyers, accumulators, HODLers, we have already concluded that overall bitcoin appears to be a pretty damned good investment, even if in the short term there can be some painstaking periods in which we perceive bitcoin's price to be either too stagnant or moving too much in the negative direction.  Certainly, longer term bitcoin buyers, accumulators and HODLers should not be disappointed by Bitcoin's performance in 2019, including a couple periods in which we witnessed seemingly extraordinary price performance, including the 3.5x price move from $4,200 to $13,880 in less than 3 months, and also the about 42% price move on October 25 from $7,300 to $10,300 in less than 12 hours.

So, yeah, even if we have witnessed BTC price corrections that largely retrace both of those above mentioned BTC price moves of this year,  BTC buyers, accumulators and HODLers should realize that there remain certain difficulties that bearwhales are going to have in keeping BTC prices down to a certain points of difficulties and also the passage of time can end up working against them in terms of there are too many difficulties to keep BTC's price down.  Surely, the upcoming halvening contributes to the UPwards BTC price pressures, even though it can take many months, even a year or more, before the lessening of the new BTC supply is felt in a kind of explosive and no longer able to keep it down kind of way.  ;) ;)

Sad but true, there's no big pumped happened while many still hoping for the best value before the year ends. Most traders are aiming for short  gains and not willing to hold and wait. From this instances the market still suffering from the bloody situations making things more harder to anticipate the next market runs. There's no certainty so be very wise and careful with how you engage with the market.

We are not sure how things will turned it's about how you believe and how far you can hold and wait.

It could get really ugly when the 6 month CME papers start closing in the end of the month. I'm leaning more to a brutal capitulation currently.

Market is always unpredictable and it best if we remain positive, as anything can happen in this market. Most time it seems the market just takes it turn without a reaction of any news or so. This particular reason makes me tired of listening to any prediction cause most are not even close to it.
I say let's reach the price of $9,000 before we start estimating if the rally is enough or not.

Until we reach ~$11000 I think it's fair to say we're still in a bear market. We haven't seen $11k since August, only lower highs and lower lows.