Bitcoin Forum

Bitcoin rises above 11,600 dollars again for the first time in a long time. This has brought about series of predictions like we saw in 2017.
This is the time for us all to learn from the past experiences. We have to know when to swap to stable coins and when to swap back to bitcoin to avoid loss associated with drastic fall in price that may occur in the future.

People need to wise up, there is no certainty that the price would go up and again we are about entering into September, the month has history of Bitcoin performing badly and if I were you, I would scale into my position gradually and  not once to see how Bitcoin performs

I remain bullish with Bitcoin these few months, you can clearly see how the trend looks like if you zoom out of the chart. And I agree that the community should know better now, compared to last 2017. Even big firms are already looking into crypto, MicroStrategy buying $250 million worth of BTC (https://cointelegraph.com/news/worlds-biggest-business-intelligence-firm-buys-21k-btc-for-250m), Jay-Z spending $7 million of his own money to buy a VR token called Senso (https://www.musicbusinessworldwide.com/jay-zs-tidal-makes-vr-concerts-bet-buying-7m-in-tokens-from-100m-backed-sensorium-corporation/), and more. We're in a much better place now compared to the past 3~4 years.

This is easier said than done. Our emotions gets in the way most of the time and we tend to refuse what the trend is telling us. There's also a possibility of falling to fakeouts. You sell because you think it's going to fall even further but it broke out instead. You really have to be good at reading volume and other indicators to avoid or minimize losing trades.

It will be much easier if you are a market mover yourself.

Are you trying to hedge your bitcoin so that you won't suffer when the price goes down? In the long run though, doesn't sounds good specially if we are already in a bull run. Why not just hold on it and never swap and then wait for the price to increase again? And if you are a bitcoin investor or trader you know that there is a big risk involved. So you can either sell, then bought back at the dip or just simply hold for long term.

it's a lesson for everyone that experience the last bitcoin trend in 2017. Many people lost because they trust too much that bitcoin will never be fall and it will continue to grow which in reality is not stable currency and there is no way it will not fall since the price is always volatile . If you experience profit make sure you take it in time or at least half of it so in case there are another deep coming you secured your profit already.

Although it has the same scenario like what we have witnessed last 2017, we cannot be sure whether it would gonna make the same flow or the price will gonna rise this year like we used to see in last 2017. However, we can say that this year is the most satisfying year for BTC since this has not happened before where it managed to stay its price from $11,000+. The good news is, the price is still rising in the market which makes everyone excited about what will happened next. I hope we won't never see that $6,000 mark again after this.

I don't really track BTC price for a long time but I am pretty sure that this isn't the first time this year that it touch above the stated price.
I think it already hit higher than that before I am not talking about the ATH but I am sure that it went above $15K last year or earlier this year if I am not mistaken.

What happened some  few years ago is about to repeat it again,when people predicted that Bitcoin will never fall, that was the year bitcoin continue to fall,and many people lost their money. The season is here again I believe people has wise up this time around.

$11,700 already but it isn't that a long time since we've met $11,600 or $11,700. Thanks for that reminder and we all have our target prices when to sell and when to buy.
This is a real game changer whichever your price target is. I'll go with the long term but aware of the potential pull backs that may happen eventually.

In this space, history does not always repeat itself. There's a history of Bitcoin increasing rapidly around the end of the year - November & December, but guess what? Last year was different, there was no substantial upward movement. I believe this year would be better as the market seems bullish. Its best to flow with the tide and let history take it course.

Everyone just remembers the good memories and wants to forget the bad memories. The price of Bitcoin was 19000+ in 2017 but in 2018, 2019 the price of Bitcoin also fell below 3000 USD. We need to learn from past experience.

What the OP is saying is that we should learn from it and giving us advise to is to used stable coins today because there are a lot of options to hedge against market volatility. I would say yes this is one strategy that I've learn early on. But later on though, I've learn some tricks and I guess this is just the basic on how not to lose your money specially if you are a beginner.

Have you really ever been on that moment?
I can still remember that day.
I am just looking in the exchange at awe with the price of bitcoin.

Can you really sell it knowing there is still a hype happening in social medias?
I doubt you will. I didn't. Even on the moment as it falls down little by little, the hope of it going back up is there. Which means, you won't sell.

Do not worry about the drop because when real bull run is going to start it will stay here for months perhaps 6 to 12 months so there will be ample time for everyone to decide when to take profit or keep riding the bulls, no one can predict the peak but it will be bigger this time.

Bullish market was long expected especially after the bitcoin halving so yes you are right everyone should make a strategy and plan for maybe partial profits. I will just tale some profit if the price really grows very high but i will keep hodling most of my portfolio because i support the projects longterm and it is not all about profit taking for me.

Positive predictions were even there during the bear market, if you follow crypto twitter you will know this well but yes recently these things have increased for obvious reasons. We can easily feel and sense that market sentiment has changed now to positive and bullish so next one year atleast we can expect market to travel to north big time.

This has been the trend right from time, once the crypto sphere starts looking bullish, like once bitcoin is on the move to a higher position, you see everyone becoming an analyst,predicting the next move, traders and investors should be mindful of the analysis they take,because even those that can't read chart will also analyse.

Exactly!

If the bull run will come again, I'm sure a lot of people would still get into FOMO but I expect that a lot of us would already do the right decision, that's because we learn from our mistakes and my experience tells me that anything that rise due to hype could be overpriced, so I would not just rather buy a coin that has already rise significantly and I won't be greedy again not to sell I help my coins for a long period of time already, not gonna make the same mistakes twice as that is called stupidity already.

I think we will have positive prediction in Ethereum market price, we see now the ETH price has surpassed $400++
Who know if this is the sign of bull market in the near time, we can buy ETH before it become a Proof of Stake coin.

Yes, Bitcoin sees price pump today but we have seen anything yet, the Bitcoin party will only begin when the price touches $20k, I believe we are just starting the bull run and do not panic to take profit, we are going to see some correction along the way  but it is just a shake off, I believe this bull run will be for 2 years

If you have taken notice since 2017, everything is a pattern, the hypes, the predictions, the positivity are a way to drive the market to yearn and want to get into the bitcoin market. The true question though is that, why are you a trader, an investor etc ? Is it to get signals from predictions? or to dyor and get true facts before investments ?

To enjoy investment in bitcoin, you need to focus on the basics, and not the noise or crowd, or predictions.

All this is because of sentiment change, suddenly people are now starting to look out for new coins or new investments because they are sure of profit, now lets wait a little more and i think after btc and eth reach previous highs even bigger fomo will start and market will really go parabolic.

Many predictions are not really working well.  A lot of people said price would fall after halving judging from the past experience of halving history.  Lo and behold, price was doing well.  I don't really rely on market speculations or predictions all around.  I just do what I know is safer to some extent and weigh the risk of every option.

That's the intention of every traders but it's always hard to determine how low or how high the price would go and if the change is a small break or a turning point. If you see the graphs properly, there are many bull traps in a bear and bear traps in a bull. So, it's better to make your own strategy about the price and stick to it than to look at the market. With so much loss with the current bear, I've decided not to move my coins anywhere below 13K.

Thinking about last 2017 bull run, what happened today might be almost the same with the year 2017 but we should not be more confident this time because a drastic fall usually follows after an all time high has been reached. But i'm still glad that despite of all negative predictions from traders and investors, the market price of bitcoin is still in a good position up to these days.

I am bullish about crypto market for next 18 to 24 months so i would not be in a hurry to sell or take profits and i know that on the way up there will be dips and corrections just like the recent one but strong holders will eventually benefit when we will see the peak of next bull run.

That is true, nowadays anyone listening to all these predictions will only be causing himself more harm than good. When the market goes green, so called experts will Pop up and start predicting hence drawing people and when the market goes against their predictions, they will remind those who followed their predictions the Importance of doing their own research. Therefore, in my own opinion, anyone who want to invest in any coin whatsoever should do so after proper research and not because someone says so, by so doing the person will learn more and become better when it comes to investing in new projects.

It is a matter of experience. Those who have seen a big bull run in the market before, they know very well what is going to happen in the market. Past experience is the greatest experience, because those who have experience dealing with previous situations know how to prepare. Those who cannot learn from their previous mistakes face losses every time. But now that the market situation is something we can expect to wait for something better in the future.

Well the price went down so it really wasn't like 2017 at all, it was more like 2018. Instead of overreacting on smallest of movements we should focus on what we could do with what we have instead of trying to compare it to what it used to be. For example, just because there were some increases in 2017 doesn't mean that every single upwards movement will result with $20k, price could go from $9k to $12k and not have anything more, just stay there.

Price could go from $12k to $9k and not fall any further, all of these are possible. Why do people think that bitcoin is something that goes up 3x or goes down 50% constantly, those things did happened but it is not the natural state of bitcoin, it is just a rare situation that happened once before and not ever since again.

We cannot say cryptocurrency market will become like in 2017 yet, the bull run is not yet come.
But the sure thing is we know that the current crypto market is going to a better condition than 2018-2019.
If we see ETH price break $1000 later, then im sure we are in the situation same as in 2017 bull run.

It all depends on the investors and when they got in. Most of the coins I have now were bought around February when the cryptocurrency market crashed, so I don’t think I am ready to sell it yet since I am not at loss, so it might still be a good idea to continue holding, especially Bitcoin, although the price dropped to $10,500 right now.

So, if an investor think they are ready to continue holding the cryptocurrency and the loss will be something they can deal with, they can continue holding it. I have seen so many analysis and predictions that people have done and they are not saying the same thing, some are saying the market will crash and some are saying that the market is going to increase.

There is no doubt that the current BTC trend is bullish, but people need to understand that the price just don't go up straight, pump, correct and repeat this until the FOMO set in. I believe those that do not have BTC now should use this opportunity to buy some during this correction

Yes, this is a good opportunity for everyone to re-invest in this market. Try to buy Bitcoin and the top altcoins because their prices are so cheap because of the correction in the past few days, the price will soon rise again in the near future and people will regret if they miss the opportunity once again

Why you will keep on holding if you can actually exchange it to stablecoins to remain its value while your holdings is still high. Currently, the price of cryptos in the market is about to crash, it would be better to take your actions and buy back once the market is on its lowest market value.

That is a very long time, and I am also sure that in the next 2 years Bitcoin will break its ATH and possibly go up to 50k $. But I'm afraid you won't have the patience to hold them until that time  ;D

Down then up then down again then up again, with most people losing money, the long-term strategy is very important in the market.

This market is really hard to predict , if the money that you have in your wallet or invested anywhere at all is something you can take to lose, whichever direction the market goes you will not be worried much about it. So, that’s just it.

As for the positive predictions, well a lot of analysts has been predicting bull run before now and they have claimed it will happen after the Halving that took place, although some people have started tagging it with Coronavirus and saying that Coronavirus is what will make the price to go up, they have forgotten about the halving. Anyway, never trust anybody, just do your thing.

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In my own opinion, any trader, Investors etc who at this stage and juncture in the crypto space that still listens and not only that, but follows analysis from experts will only end up losing more than he has achieved. Every time there is a good growth in the crypto space mostly within Bitcoin, they will come up and start from where they stopped with their analysis thus predicting what will happen in a certian time. But most times I tend to wonder if those following these experts once in a while ask them about their previous predictions and what became of it, why wasn't it achieved etc, maybe if they are asked about their previous predictions prior to their current ones, maybe they will stop with all these unnecessary predictions. Let us learn from the past and be better than repeating the same mistakes again and again.