Bitcoin Forum

What do you think? After the Amazon rumor pump, followed by dropping back to $36k when Amazon said it wasn't true, Bitcoin is now a day later back pushing $40k. The market bottom has been roughly the $30,000s range (basically $29k to $41k) for the past 2+ months, do you think bitcoin now has enough strength to break out of the bottom of this mini-bear market in the next few days/week or will the price slump back down and stay in the $30,000s for a while longer?

Continued ranging on the bottom or break out and starting to move back to ATHs?

Its going in the opposite direction that you are thinking. The bulls seem to be fighting back and it's breaking that $40K instead. If this is what will happen in the next few weeks which is likely going to since its still low. Maybe the $60K will be back again. I wouldn't want to put some hope but the price staying above 30,000 to 40,000 is a good indicator.

The price rise had nothing to do with Amazon, it started long before the fake news came out and even after it people weren't paying any attention to the Amazon news. This is also not the first time they spread some fake rumor about some big company like Amazon accepting bitcoin and the price never reacts to it.
The reason why it dropped back down was also not because of Amazon news, it was simply because it reached $40k and the whale manipulators weren't ready so they unloaded on the market trying to delay the inevitable ;)

If the people were to buy the rumors in regards to Amazon integrating their platform to a crypto platform, the price will definitely go up but @pooya87 is right, this run has been happening even before Amazon so we better watch out and be alert because rumors don't pay big unless you have the right timing for these things.

I am not quite sure if the price if bitcoin will reach all-time-high, the price is still $40000 recently, reaching $65000 and up is not what we can decide for now, but the price has increased to over $40000 two time recently, this makes me think it is possible for the $40000 to be the support price while now aiming for $50000.

The price of bitcoin is now $40000 again, if this holds for long, very possible thst $40000 can be the support price aiming for $50000.

Certainly feels like a breakout. The weekly chart is looking pretty bullish. Usually when this sort of thing happens, it can run for a couple months. It might be a little early for the run into six figures but it certainly feels like we’ve turned a corner and are headed in that direction. Remember to not use leverage and enjoy the ride.

I think bitcoin will have more power to raise the price to the high price and back to above $40k because it seems the crypto market sentiment is back on bitcoin.
But we can not have an accurate analysis since the bitcoin price can move anywhere.
Hopefully, this month will change everything and bitcoin can start another rally to the high price and altcoin will also follow.
Who knows, the price will be staying at the current price for a while before it starts the next rally.
If that happens, we still need to be careful because there will be a chance for the bitcoin price to go down below the price.

It briefly touches $40k like 4-5 hours ago as I was checking the price. And then go down to $39k and now check the price is above $40k again. So I guess the opposite happen here, is a mini bull run that we are witnessing and it's good to see the price pumping even after the Amazon denial. So it means that investors seeing this as a great opportunity. Breaking $40k and then we will see another massive pump to $43k, that's what I'm seeing in the market movement right now.

I am only convinced if we break 41/42k. Until then it is bulls hopium, just as 29.5k was bears hopium that we go sub 19 May low.

Rumors about amazon was days out before BTC goes bullish. I believe the price action rose when Twitter CEO talks with Elon and Ark invest CEO Catherine wood was surely the reason for this bullishness. Institutions were probably bullish after their talks and specially that they strongly believe that all if institutions weren't invest now, they'll be left behind soon. Nonetheless, it would surely break the 40K-45K mark and goes beyond it by the end of the month.

I agree with your thinking that rumors about amazon were out a few days before BTC went bullish, but now BTC has started to take off. I can guess that a lot of investors missed their flight at that time, they still thought that btc was standing still and there was no sound on the plane. still negligent when the graph goes up again or the graph will go down again.

Yeah and this bullishness is not caused by retailers but institutions being bullish and not wanting to be left behind. I heard that one too in coin bureua channel and I found his video very much precise about what's happening within the week. I am seeing a a massive pump up to 45K price of bitcoin this incoming week and a break out in the next couple months that would probably cause a new all time high.

Better watch out the strong resistance zone instead of thinking that it would be the breakout point for bitcoin to take another bullish rally. TBH, it could be a fakeout even if bitcoin can maintain the movements above $40k price level. As per previous bull season, bitcoin took this type of fakeout before the crossover between 20 & 50 weekly MA indicators and we officially entered into the bear market again when the crossover was done. So, i'll watch out the potential crossover point to see if history will repeat or not.  ;)

Yes sir you are right. This might be another tough time coming. Because of some Fud news bitcoin price is in a range of $29k - $41k. And it is bitcoin position since two months. So the whale was waiting for a pump so that they can take another chance to grab profit at $40k.  Then again spreading fud news they dump market to take position again in a bottom price. And i recently saw a tweet i can't remember whose tweet but according to him a big amount of bitcoin sending maybe some exchange account.  Now who knows why he might be done it. Lets see what news comes in the market sir.

The Amazon looking for a crypto expert was a few days before the big pump from $33k/$34k to $40k, and the B-word meeting initiated the pump from like $30k to $34k. But then there was, separately, the rumor about Amazon accepting Bitcoin and immediately when that news hit it pumped from $33k/$34k to around $40k. The Amazon rumor was without doubt the catalyst for moving Bitcoin from $33k/$34k to the $40k range, which is even more obvious given that it immediately dropped several thousand dollars when Amazon said it wasn't true.

Sometimes news directly affects Bitcoin in big ways and it is very obvious, no need to try to pretend like it isn't true (which it seems multiple people in this thread are set on doing). Don't see why people so often try to say clear catalysts didn't happen. Just accept it and move on people! Even though the rumor was false it was great for the bitcoin market, it liquidated a bunch of bears and vastly improved the current market position for Bitcoin so that we are now looking at a possible breakout from this market bottom!

There was a sharp attempt at knocking the price down a couple hours ago - dropped by $600 in 2 or 3 minutes, but bottomed a bit lower just under $39k and is now already back over $40k and currently at $40,500. The defending of high $30,000s the past couple days after a huge pump, even after the news that caused the pump turned out to be false, makes me think we are indeed heading for a breakout from the bottom of the market.

This reminds me of the last couple days of March 2019 when Bitcoin was hanging around $4000/$4100 and fighting through resistance getting ready to break out of the market bottom on April 1st of that year to start the new long term bull market.

Bitcoin is right where resistance holding it in the bottom range has been - that $41k-$42k range. So far it is topping out under $41k but strongly defending high $30,000s. If the market is ready to call it quits on this mini-bear then we could see a breakout before this weekend! I equally wouldn't be surprised if a week from now we're over $45k or back to $35k but I am like 60/40 on a breakout at this point.

I think that you should remove that “I don't know” option, because whoever knows for sure, which seems all of the voters except me, is a liar. We don't know if it'll break out the $30,000 market bottom; we may believe in some studies or want to believe, but the price is a matter of the market. The way people accumulate isn't nuclear physics.

So a better question for this poll would be: “Do you believe that it's about to break $x?” instead of calling what we're now go through a mini-bear market.

We are on an accumulation phase and it will take more than 2 months if continue ranging from this level. Whenever we touch that $40.8k or $41k level Bitcoin goes for a decline, I guess that's healthy one so better to get some bag while it goes a short dip. Overall, it's better to wait than hopping in because of FOMO, never gonna trade a breakout.

A small pullback is normal and I don’t think the price will go back to the level of $30k again though it can happen depends on the move of the whales. For now, its good that we are able to rise on the price of $40k, are next target is to go beyond $45k and sustain that momentum so we can end this year on a good prices, all time high is possible again, keep watching.

The price of BTC has been recovering very quickly, since the bottom of $ 30k is being left behind, when the price rose from $ 34k to $ 36k it was already seen that it could reach $ 40k, it even arrived, but it is trading a lot in the $ 39k levels, I think the bullish momentum is stronger:

https://i.imgur.com/puWrpUt.png
Source: https://ambcrypto.com/bitcoin-xrp-and-cardano-price-analysis-july-28/ (https://ambcrypto.com/bitcoin-xrp-and-cardano-price-analysis-july-28/)

Everything indicates that the trend will be bullish, but you have to wait, anything can happen in the market.

This is very positive has something to do with the latest meeting between Dorsey and Musk, because after the meeting we have seen the price move up slowly until the momentum build-up, I hope the month of August will bring more positive news, this year is still a breakthrough year for all us we break the all-time high and we are aiming for a new record high, this is could be the best year for the market.

Bitcoin already breaks $40k, and even it reached $42k before. But this time, bitcoin makes a correction by getting down for $39k. It will back to up to $40k soon and the gap for that price is not too big so I guess that this week, the price can reach that price. It seems the price will be up and down to $38k-$40k many times like what we already saw when bitcoin price is at $30k-$35k because, for this few days, bitcoin is not moving to more than $40k. But the trend is still positive so that can lift the price to the high price soon.

Indeed, it's going to move back to ATH and hopefully soon we'll able to recover successfully without any circumstances that might hinder increase. Based on the poll, breaking $40k is now commencing and to give any further developments resistance still strong even if green signals is showing good tracks.

That's the thing, we need it to sustained to $40,000 first before we can see another break out. This bull run is not the same as the massive one we see reaching the last all time high we got. So it might take some time for it to grow again to $45,000-$50,000, as that will be the next logical target if ever we are going to see another movement next month. Nevertheless, its a good indication that we won't see any bottom as we have reach it when the price dips to $28,000-$29,000.

Well, I agree with this but also disagree with it and I do not know which option to pick. I believe that we are not going to see under 30k again (not for a while at least) and I believe that we are going to stay above 33.5k+ levels for a long time, who knows unless something major happens maybe we will never see that again, remember you always see a price for the last time and never know about it, during 2k to 3k levels I never imagined in a million years that we would never see those prices, but as it turns out we never saw those prices at all.

It means that we are talking about maybe the same thing now for 20k to 30k? I am not saying it will be like that but we will never know when is the last time we see it. At the end of the day we will not be able to know for sure but I believe it will not drop under 33.5k again for a while, but that also doesn't mean that we will above 40k comfortably neither.

Interestingly enough when price was stuck in $3k and couldn't break $4k for a long time there were a lot of shorts like this and FUD trying to convince everyone that price can no longer go up and the "bear market" has started. The $4k break was explosive and price reached $7k in a very short time right after!

And then from then on, the price goes on a super fast rally and the rest is history.

For the bottom price, I think it will be possible, we might never know that there could be FUD again that will push the price down. Currently, at $40k it's just a couple of thousands of dollars and then we are in the bottom again. Nevertheless, let's just enjoy the current ride, I do hope that $45k can be breach next month, we have a lot of legroom to make it happen in August.

people have the same thoughts when the price falls saying it's dead, it won't go up again, the price has crashed. but in turn the price has gone up, this price will continue to rise and rise. but the funny thing is they don't invest when the price is down and regret it when the price is pumping.
as is today's reality, bitcoin hit $40,000 yesterday although it's now down at $39,000. that's proof that bitcoin never dies and continues to live as long as the market exists.

After what happened yesterday, it seems bitcoin is not back to $40,000 because the price only stays at $39,xxx and if the price is up, the up price is just hundreds and vice versa. While we are at the weekend, we could expect that the correction will come again so we need to be aware of that and sell if you think you want to take profit for a while to buy bitcoin at a low price. Hopefully, we will not see the bottom at $28,000-$29,000 again but still need more analysis to see if the price will go down lower to that range of the price.

I know that a lot of people were waiting for the 20K level, to accumulate BTC cheaply. They will be disappointed. BTC dipped below 30K for a short period of time, but it rocketed upwards as soon as the news (rather rumor) about Amazon acceptance came. It was a very sharp rally from $28,000 to $41,000 in a couple of days. And even after Amazon denied the rumor, the prices remained at a very high level. There was some sell-off which resulted in the exchange rates dipping to 37-38K, but the recovery happened in less than a day.

No, it wont be under $30k anymore, the market foundation is very strong at that level, as we see so many retest several weeks ago, once it broken, BTC going up like today.
The Amazon rumors did not take many affect with this bullrun, as we see after their decline that news is not right, BTC still continue to grow. Hope it will be break $42k soon and bull will still run until next december.

I think the outlook for bitcoin may look bleak at the moment but historically this is just another hurdle for bitcoin to overcome and is a minor hurdle compared to the past. A number of negative sentiments pressured bitcoin prices during the week. This started with China's steps to tighten the use of crypto money. However, I am sure that the bitcoin price will move to a new ATH in the future.

bitcoin will always live, even though China continues to tighten the use of bitcoin in its country. because currently several countries are at war with the market, one of the factors that can affect the country's economy is the level of adoption and use of the value of the digital currency, namely bitcoin.

It seems like Bitcoin price has nothing to do with $30k now. But it could be early to say too of course. Now, we observe the price over $41k after a very long time. And if it continues to break resistance levels like this, we could even see it reaching $50k again in a short time.

As this market is very unpredictable, we just hope for positive things to happen here. Let's be grateful that it surpasses again the $40k level, wherein, a lot of spectators made the wrong prediction as some predicted that it will go down below $30k. It shows that in this market, it is hard to really give precise predictions as there are so many variables that are in play. Now, you will see again users that they will say, they should have bought at 30k and have gained their profits selling at this 41k+ level. Same old, same old.

The Chinese FUD is over, bitcoin was able to hurdle this one, proving it's resiliency once again. The Chinese news though will linger, and it may cause another short term minor negative effect. However, we have seen bitcoin's tremendous rebounding power, how many days have we seen green candles already? 10+ days? That's a sign that we might be moving to a new ATH in the future. This is just the start and eventually before the end of the year, a new ATH will be reach.

Hasn't "China news" always been the prelude to a big Bitcoin rally once its overcome the immediate bearish market effects though? Anyway, I was hoping to see a majority of votes for at least "not yet" but most people think this is the break out ensuing. Not usually what I'd say is a good indicator given how inaccurate us forum people have been in Speculation ha;)

Last rally saw an ATH 10 months after old ATH was broken. December 2020 is my marker in this case, so if we don't get anything by early October, I'll dig in for the long cold winter.

It is clear that the bulls have taken control again and institutional investors are also showing renewed interest. Bitcoin easily crossed the key level of $ 40k, reaching a peak of $ 42,400 yesterday. This is the highest level of bitcoin since mid-May, when cryptocurrency experienced serious shock, after which the price moved halfway down from the ATH record.
Any potential future correction would most likely be very short-lived due to this renewed demand and opportunity.