Bitcoin Forum

The overall cryptocurrency market is surging northwards as Bitcoin and a majority of the altcoins are trading in green today. The world’s strongest cryptocurrency is showing strength at this stage jumping by more than 5% in the last 24 hours.

At press time, BTC is trading at $10,310 levels with a market cap of $190 billion. As per the WorldCoinIndex data, the 24-hour daily trading volumes have also crossed $7 billion at the time of writing this article.

This is for the third time in 2020 that Bitcoin has managed to cross the $10,000 mark. However, every time it did so, the BTC price has seen a major pullback from those levels going back close to $9,000 levels.

If we see the last week’s chart, Bitcoin has surged over 12% in the last one week to move above $10,000. However, the world’s largest cryptocurrency is seeing a major resistance of $10,500 and it has failed twice in 2020 to breach it.

If Bitcoin manages to breach it this time, we can see it setting up a new support here and start a bull run from there onwards. While Bitcoin has been said to be a ‘digital gold’ and a safe-haven against the stock markets, it hasn’t turned out that way.

In fact, the BTC price has been moving in line with the stock markets for this year. During the stock market crash of March 2020, the Bitcoin price crashed below $5000 levels, a whopping 50% fall from its mid-February high of over $10,000.

Bitcoin has managed to recover its losses since then. At the present levels, Bitcoin is trading at nearly 40% premium year-to-date.

On the other hand, the world’s second-largest cryptocurrency and Bitcoin competitor Ethereum (ETH) has also managed to show strength over the last week. In the last week, Ethereum (ETH) price surged more than 25% to cross above its crucial milestone of $300 over the weekend.

At press time, ETH price has surged 4.82% in the last 24 hours and is trading at $326 with a market cap of $36.15 billion. The sudden surge in the ETH price after the network’s daily transaction volumes reached its all-time-high last week.

The latest price surge amidst a significant surge in the DeFi activity on the Ethereum blockchain. Decentralized Finance (DeFI) contribute to a majority of the daily trading volumes on the platform as on date.

Ethereum developers have accelerated their work for the ETH 2.0 release which provides massive scalability boost over the existing network. While the existing Ethereum network can process only 15 transactions per second, the ETH 2.0 will hold the capacity to process 1000s of transactions per second.

The Ethereum 2.0 testnet launch is expected to happen next week on August 4.


Source:
Crypto Investors Rejoice As Bitcoin Price Surges Above $10,000, And Ethereum Above $300 (https://www.worldcoinindex.com/news/crypto-investors-rejoice-as-bitcoin-price-surges-above-10-000-and-ethereum-above-300)

We are in the post-halving timeline. Prices only go up from here

And that was why we see ETH having that crazy bump from 0.025 to 0.032... now is going down, but looks like it's more fuel for bitcoin bump, is really nice to see it at $10500 today. Let's see how high can it get.

If only it were that simple, but just a few months ago you could see Bitcoin share the same fate as stocks, oil or gold in the event of a global negative event - losing 50% of its value overnight seemed really ugly. It is maybe wrong to think that the price will go only up, and some are even talking about a new ATH this year - but the first two halvings did not have an instant impact on the price.

Don't get me wrong, I'm not against BTC start a new big bull run, but somehow it seems to me that this could only happen next year at the earliest, which does not mean that this year will not end very positively in terms of price.

Expect a pullback rather sooner than later. The big question is whether Bitcoin will manage to stay above 10k for good, if yes we're going to to be in for a good time. Not sure if I'd expect a new ATH before 2021 though. We still have a lot of resistance levels ahead and who knows what other surprises 2020 still holds in store.

If Ethereum is also prepping its moon rockets, all the better. Confidence in one pushes confidence in the other.

Pull back is expected with that price, BUT if it really stays in that price range then we might see a new price resistance over that level, I hope it will really do. All Time High this year? it is quite vague for me because of the crisis that we are having right now, only rich people can enjoy this much for cryptocurrency. 2020 has not been that bad for crypto, not until countries imposed lockdown, noticeably price went down after that around March, then we saw the price touching 10K and drops, now it reaches 10K again so I expect it to drop again any time.

I'm rooting for ethereum, bitcoin will be just there forever. Ethereum is possible to reach an ATH this year, as speculation says it could reach $5k this year, who's not excited for this?

It´s not that it is simply above the 10K, the cool thing is that it stays there for longer than a 5 minute candle! Finally the barriere seems to be broken. Lets hope now that the 10K will become a similar strong support level as it was a resistance up till today. ETH rising too, so a day to celebrate.

Unfortunately this is a statement that doesn't have any factual truth to it.  Bitcoin is on a nice run, and there is plenty of optimism to be had, but you can't state prices will only go up from here for anything on this planet, let alone a volatile cryptocurrency.

Yes, I know others are happy as what's the price is showing right now but for me, not taking it as a "special" as breaching $10,000+ is really realistic to happen.

There might be some struggle passing that level during the past month but still, we all know it will happen.

The quote of "this will be the last time we will see Bitcoin below $10,000" is now taking the buzz again. Now up to others on what they think the next thing will happen.

      Lol. As expected in this industry, as long as there is good news, the price goes up a lot. That's just how it is in all of the other crypto currencies here in this industry, not just bitcoins or etherium but all of them. And of course, since the prices are going in a surge, kost of the people in this industry if not everyone rejoices. I mean, who wouldn't be happy seeing their investments doing good and gaining profits? It's completely natural. It has been like that every time in this industry, if you are new to this then welcome. I suggest you take notes so that you don't get shocked every time things like this happens. Lol.

That's the question everyone would like to know the answer to. Is BTC going to stabilise above 10K or not? By the looks of it there doesn't seem to be much resistance to the next 1k to make it 11k but will it surpass that, and is this going to be the beginning of a new bull run?

Let's hope so, but on the realistic side of things probably this run won't last long but it may at least set a new and higher BTC stable price  ???

For those who bought on 9100+ price then this would be the best time to sell out for profits yet on this kind of movement i can somewhat feel or my guts do tell me that there would be always a price correction which is normal.

If this price movement will continue then it can possibly break 11k and we arent that too far away into that price.Its either it would reach or touch it and made some denial or rejection or would able to breakout.

For those people who do able to buy on cheap price then they are definitely rejoicing.

After three years of a prolonged bear market it is good to see more money coming into Bitcoin now and also if you check the over all market cap for Crypto has also grown as well. In the last month or so over 50 billion entered the crypto markets and of course a lot of that now is going into Bitcoin, both from retail investors and speculators and also from big companies like Grayscale who are buying up all the new BTC being mined. I also believe this bull market will last for over a year and will run longer than the previous one.

Personally, I think the big barrier is $10,500 but since we have broken it already, this bull run might continue and hit $11k or even $12k. This is the break out run that we have been waiting for many months now so let's see how far this run can go.


But year-to-year bitcoin has perform better in the bear market, not even the pandemic scare put a damp on the market. Yes, we have seen lower lows during the scare, but we already bounce back and now hitting another higher highs for this year. But it is still a long way to go before new all time high, not seeing it this year.

@jating bitcoin prices managed to break the $11k levels, and even surged towards $12k levels however now the prices are once again down to $10.9k levels, but it’s pertinent to note that they’re yet high as they were trading at $9.3k levels few days ago. Also multiple reasons for this rally are being cited and most notably among them are 1) that the traders cashed out their profits from defi tokens and invested in bitcoin and Ethereum, 2) the permission given by Office of the Controller of the Currency to banks to hold bitcoin for their clients.

Sources:

https://bitcointalk.org/index.php?topic=5264025.msg54853558#msg54853558

https://fortune.com/2020/07/27/bitcoin-price-usd-news-experts-surge-theories/

it is actually bitcoin investors not crypto investors and most of them are actually unhappy about the rise because the "investors" at times like this are split into three groups,
- first are those who sold or hadn't bought and were waiting for a drastic drop so they could buy super-cheap bitcoins and are now witnessing their dreams crushed.
- second are those who have been accumulating during the "below resistance" times and now they can no longer buy cheap bitcoins and have to buy less with the same amount of fiat.
- and third which don't care are those who had their investment and were holding.

BTW it is only bitcoin investors because for the past 2 days that bitcoin has been rising, altcoins were dumping hard. any pumps you see like the ETH pump are from before the bitcoin price rise began.

I wsas convinced that BTC has to bounce back to 7K or below to gain momentum there to eventually break the 10K barrier for good. I´m happy I was wrong! Coulnd´t believe it after the first breakout but as the price stayed above the 10K mark for longer than a5 minute candle it started to become real. Bears are stopped out and I hope that 10K can now become a strong support level just as it was a strong resistance up till now

Good thing it didn't haven and the momentum is switching now
to a much stronger level.


Based from how we see it right now bitcoin still bullish and manage
to keep on staying at the current level.


If so, it's a very good indication that bull are near to overcome this bear
and slowly go you again and reach another ATH.
Hopefully that will continue and this new strong barrier will not be over power
again by bears.

If your targets keep achieving it then sell accordingly. You would have invested with a horizon and with a price level as well. So, do it accordingly so that you would not have to regret even if it reaches 15k in coming time as you met your goal and exited it. Greediness at times can lead to higher losses than profits like seen before as well.

Setting a take profit target is the best bet for now taking some of the profit to avoid any unnecessary risk while leaving the rest to run for a likely more pump while taking another profits  however price is not a respecter of anybody the trend can turn bearish again just as it is unfolding now after reaching $11K  as it is now the price is retracing to resistance  turned support before heading north again .

I agree. If we presume that halving does affect the price of BTC, we should still understand that it may take 10 months and more for the effect. I personally think that the real daily supply and demand on the market is what affecting the price to such a degree that halving's effect(if any) can be considered insignificant.

major pullback? Do you consider that as a major pullback? $9,000 level is still a high price, the verge of accumulation phase, considering how the whole crypto market was struggling from the last 2 years.
IMO, that's not really major, unless It goes down below $7k or $6k.

That's the next good question after Btc broke the $10k curse. I'd rather be comfortable if Btc will hover around this current level as I'm not expecting any ATH this year.
Though It's a whole new different story if Btc drops to its worst form after this pump, because that means another opportunity to accumulate at a lower price.

Chain reaction

Of course we are all very happy to see Bitcoin price surges above $ 10,000. Because Bitcoin prices increases have been waiting
by crypto community. Hopefully the current increase doesn't stop at $ 10,000. But it can continue to rise until all time high price,
we all fear a rise the price of Bitcoin does not last long and will drop back to $ 9,000. Hopefully this fear does not occur.

We already hit the $11k mark so that's really good news for all of us here. But be alert if you have money invested as we don't know how long or how far it will reach in the coming days. So you need to be conservative with your price estimation also. If you are already gaining profit, you need to decide how long you're going to keep your investments on the market.

The bitcon inflation brings me happiness, after holding my asset for almost 2 months and now I earned a big profit because of waiting. The price of the bitcoin reaches $11,400 as the highest so far, lets see if this will still go up more than that. Many investors are now happy because of what is happening now, for sure they earned big profit because its a big movement for the bitcoin.

Looks like it could be happening as we speak. Of course, signs point toward this being a normal correction -- one that should have happened around 10300 instead of pushing on above 11k.

But yeah, after weeks (was it even months) of trolling, I guess we're all glad for any kind of movement. But as I'm mentioning in other posts, I'm strapped in for more 2020 bollocking first before (re)training my eyes on Bitcoin again.

I can't determine my targets but as long as my conscience tells me that it's a high price, I should sell. Thanks for that tip and I'll be doing that again for many times if this keeps on going.

But I prefer to see the slowly growth and sometimes a rapid increase like this, it's a very favorable move for bitcoin and I find it safer.

Bitcoin was already stable before this big run, so I don't think there's a panic created before.
The panic happened last March this year when the price dip to $4,000 plus, but that was just quick because bitcoin slowly recovers until it was being stable.

Now, we break the big barriers, so people are rejoicing and I like to see the same scenario like before where there's a FOMO, and if bitcoin will pump again, it's possible we will witness it soon and we might end the year with another bull run, who knows.

What I'm expecting soon is a panic, panic buying to be specific.

this title: " Crypto Investors Rejoice As Bitcoin Price Surges Above $10,000 "... it looks like it was something impossible to achieve. if we were talking about the price reaching $ 20,000 I would understand why people are very happy but we are still a long way from $ 20,000. I think it's too early to be happy. we will see in the next few days if the price will be able to remain above $ 10500 for a long time

The best practice is to have the same mindset as yours since we would never know if we can see more higher price and it's really good to secure the possible profit we can get since for sure we can't afford to have a negative output when bad days came. I those rapid growth is happening right now since we see some great changes on the price as of today.

People deserve to be happy because of the current market surge and they are being paid off for waiting. But the bad thing is that people are so very optimistic and even that simple market surges we'd like to think Bullrun which is wrong...maybe I'm lucky that I'm not among them but I was also happy to see the market improvement from almost 3 months that we are stuck at $9k.

One year after halving? I have to be patient either and thinking we gonna have this sentiment once again.

Some interesting stuff is going on BTC, hurry up guys it looks like the BTC is all set make a strong come back again 💪

I will consider this as bull run and there are more possiblities that the BTC price will reach 13k according to the latest price trend, similarly the alts will continue to follow the footsteps of BTC. Opportunity for investment is still open and short term will too benefit.

Especially those who got in at a very low price will be extremely happy about this sudden price pump, am a bit confuse right now what this is, are we in bull or this is a trap! Anyways, it is good to see some price movement after some time of quietness. Am sure this movement will attract new interest and probably bring in new investors, people are more willing to invest when the price is high.

actually there is no certain amount to invest in bitcoin, indeed what the above partner said when buying at $ 7K would certainly now receive quite a lucrative profit. in fact if you look at this trend for 24 hours a few times bitcoin can break through $ 11K but it can't keep increasing and eventually it drops back around $ 10K.

if you look at this reality do not need to hesitate to continue to make bitcoin investments indeed now the capital required is quite large but the results to be received will also be very tempting, because it is certain bitcoin has begun to break away to keep moving to increase and it is not impossible that in the next few months it will reach $ 15K.