Bitcoin Forum

Since July 27, 2020 we already closing above $10, 000. Remember how bumpy we experienced at the first week of September 2020 before? Bitcoin dumped below $9, 000 but the daily candle closing price is still closing above the 5 digits $10, 000 price.
It already surpassed what we experienced last December 2017, which only 62 days, but that time, it is the time before of All-time-high.

So, whats your toughts here? If we experienced a closing daily candle below $10, 000 should we see another huge dump or if not, a new all-time-high within months?

-Source (https://www.coindesk.com/bitcoin-price-record-63-days-above-ten-thousand)

This shows that Bitcoin as a currency is getting more stable than in the early years when it was subject to very wild fluctuations in value within short spaces of time. Although, I do not think Bitcoin should be linked with terms like, opening and closing price.

The cryptocurrency market is not subject to regulations or interventions and as such does not have an official closing or opening hour (a 24/7 market), unlike other markets like stock exchanges which open and close at certain hours of the day which is fixed all over the world, or the forex market which closes on weekends and reopens the next weekday.
If the record for Bitcoin ending the day at above $10,000 is to be based solely on the hours of the day, then it is subject to individual markets as time difference exists in different region, so using another time standard we would likely get different price results.
I should note that it has hardly fallen below the $10k mark over the past 2 months regardless of market time difference

Someone actually posted this about a month ago when BTC was in 2nd place for being above $10K since it exceeded 28 days of July 2019. And many people assumed back then that it would go under $10K quick and not beat the record this time around however I guess they were wrong.

Even though it was over $10K for 2 months it was above $15K for less than 2 weeks. Which goes to show you how quickly the last bear market turned and quickly the selling accelerated. Honestly I was around in 2017 and sold most below $10K and almost nothing between $10-20K in 2017 because I assumed we would get $25-$50K. Times were sure crazy back then.

Either way interesting article, as long as the stock market doesn't crash again we should remain stable.

This analysis confirms the increasing trend of the bitcoin price. In my opinion we will see an ATH in the coming months, but I wish I could already assure it. Past performance does not guarantee future performance. We don't know if any future events, will bring the price down, as happened with COVID in March.

That's fine, I think we are going to be good if we maintain the price above $10,000. If my memory serves me right a stable price like this could be followed by a upside so I wouldn't be surprised that in the next couple of months, we might see a rise to $12k at least.

Others might get frustrated seeing the price in a side way pattern, maybe selling their stash and then move to altcoin because of this Defi hype. But being a bitcoin holder is something though, when we see the price going to all time high next year then we can begin to contemplate that they shouldn't sell at $10,000. But instead hold and not be that dumb and regret your decisions.

the value of bitcoin is always constantly increasing due to ever increasing adoption and the fact that supply is capped while new supply creation speed has been decreasing (aka halving). but sometimes the price makes jumps and goes above that intrinsic value (eg. end of 2017) and bitcoin becomes overvalued and sometimes it drops and goes below that value (eg. 2018 to 2020) and becomes undervalued. as we reach more stability, certain price levels will never be seen ever again.

so it is understandable to see price staying above $10k for longer time now and probably never go below it again since i believe that the real intrinsic value of bitcoin at this point is closer to $15k and bitcoin is still slightly undervalued.

yet its been dead several times in the past. is 62 days a confirmation that it wont dip again below it?

its still going to be fun to see it dip though. we're not in a hurry to break the ATH too early anyway. if it will took another year or two allowing the economy to stabilized and after pandemic, it will be fair for those new comers in crypto.

I'm not good at making candle analysis but what you have shown us is something to think about, there may be a correlation, maybe it will play out that way where we will have another all-time high, I'd like this option than another dump in the market, we are all waiting for the next all-time high this chart will give us hope that a new all time high is coming.

65 days now. We are about a week away to have more days over $10000 then last year. I dont see possible to not break that- This shows strong trend.  Next year days with sub $10000 will be very rare if it will existed at all. 

Those numbers are just numbers. Even how many days we will stay above $10,000 there are a lot of possibilities we can fall below it. That's why I am not that so positive to see another all-time-high since we already surpassed the 62 straight days last 2017 which we also experienced the all-time-high of Bitcoin.
Yep, pandemic could be one of the reasons why we are above $10,000 or we will experience another all-time-high in near future.

As long as we stay above $10k, i’ll remain bullish with bitcoin, but if we touch $9k level again I’m expecting a continues drop from that level since bitcoin can’t handle the strong resistance people might start to panic again. In the past weeks, the price is doing good and bitcoin also rise from the corrections, we are entering into the last quarter of 2020 and we still have time for good prices with bitcoin, I hope to hear more good news this year despite of the pandemic.

That shows the strength of bitcoin and its consistency, but right now, I doubt we will see a new ATH this year. I mean, the hype is over and the world is struggling, it's not like 2017 where people are willing to spend money to invest, or even borrow just to ride with the FOMO.

Bitcoin price showing strong position during this pandemic and economical crisis around the world. It's a good sign and we may hope for a new ATH when everything will be normal again.

Couldn't got your point. Bitcoin price haven't dropped below $9k in this month. Though it dropped under $10k on 5th, 7th and 8th September for a while. But the daily closing price was above $10k as you mentioned.
https://i.imgur.com/LA0qF3h.jpg

all the positive signs are accumulating to show that this remaining months and most possibly the entire 2021 is going to be the next bull run very similar to what we had in 2017, 2013 and 2011.
we are seeing smaller drops and less frequently while each rise sets a new low after it is done (i am talking about the long term lows not the short term during fluctuations).

Finally we have been staying above the price we should be and finally we are seeing some improvements as well. People kept talking about how 10k was a psychological barrier and I agreed because whenever we went above that level, we finally went down it was always like that, no matter how long we hold off eventually the price went under 10k and I didn't really liked that, thankfully that changed and now we are not like that at all, we are finally staying above 10k without interruption.

If this continues for longer I am sure people will finally stop freaking over that 10k price and start to see it something normal. If you told people "will bitcoin be over 3k?" almost everyone would say yes, but when you ask "will it be over 10k" they will not be able to answer or be indecisive.

Yeah we can expect this from happening especially Bitcoin is lacking and price movements and have failed to go back up above 12,000$ several times already. We may have been consolidating above 10,000$ in the longest time but the key factor here why I think Bitcoin will have a dump is because of the lack of volume Bitcoin is having even if it's price was increasing for several months now. Prices going up while the volume is going down only show that Bitcoin is on the bearish side of the market.

Expect a higher price stability once it gets crossed the $10K price range, maybe around $12K. This only shows that bitcoin is a global dilemma proof unlike any other assets that are circulating in the market. But still it is volatile, we might see it tomorrow dropping to $9K again, it's really uncertain especially with the hype of DeFi projects. I'm expecting a $17K ATH this year, hopefully it will come in December.