Bitcoin Forum

Bitcoin Gradually Increased in Price in September, Case for a Bull Run in 2018

Since early September, the price of Bitcoin has gradually increased from $6,100 to $6,550, testing the $6,800 resistance level on two occasions.

Bitcoin experienced four dips in its price in the past 30 days and every consecutive drop in the price of the asset stabilized in a higher region than its previous decline in value.

On Sept. 9, the price of Bitcoin dropped to around $6,100 during its first fall in the month. On Sept. 16, a week after the initial drop followed by a corrective rally, the price of Bitcoin dropped to $6,250, at a higher point than its previous drop at $6,100.
On Sept. 26, around 10 days after the second dip, the price of BTC dropped to $6,400, $150 higher than the region BTC fell to on Sept. 16. On Oct. 4, it’s latest minor drop in price, Bitcoin dropped to the higher region of $6,400.

Is Bitcoin Undergoing a Gradual Recovery?
Given that Bitcoin has seen the $6,000 support level strengthen and the momentum of the asset at the $6,550 mark intensify, it is entirely likely that the asset will continue to engage in a gradual recovery throughout October.

A rapid increase in price from $6,000 to a higher region like $7,000 and $8,000 in the short-term, similar to its movement from $6,800 to $8,000 earlier this year, is not likely due to the decline in its volume.

On October 6, CCN reported that the volume of Bitcoin fell from $4 billion to $3.2 billion on Coinmarketcap and from $2.6 billion to $2 billion on ShapeShift’s CoinCap.io, suggesting that an exponential increase in price of Bitcoin is not in play in the short-term.

https://www.ccn.com/bitcoin-gradually-increased-in-price-in-october-case-of-a-bull-run-in-2018/

someone needs to tell "ccn.com" that they shouldn't try so hard to publish news about bitcoin price when the things they publish are this weird and nonsensical. the funnier thing is there is another article by them calling the same rise "unexpected" in other words they don't even have consistency :D

it is not a gradual rise or recovery at all when price keeps meeting the same upper and lower price levels at $7k and $6k respectively. it is called fluctuating between these prices. this may be considered a signal for an upcoming rise close by but only because this seems like an accumulation phase not because it went up 1% but still is below the resistance line.

Instead of looking at the news, look at the charts. September started with a big dump (Sep 5) from some 7400 to some 6300. Since then the market tried some sort of ultra slow recovery, but we are far from anything significant.
An average "rise" from 6300 to 6500 (6600?) in a month, after such a drop, is not really a joy and it's certainly far from calling it a bull run.

the important thing to look at is the size of the rise not the numbers. of course when you say rise to six thousand and six hundred dollars it seems like a huge number and a huge rise but if you look at the size of it you can see that it was a tiny 4-5% rise.

In my observation, I think there is no significant sign of btc to make a bullish market as this is still stagnant within the $6.5 level where I believe correction might have just a longer time to make a change in the market scene. If btc could start to make a pump with a difference of $1K within the next month,  that could be a start of the bullish market that everyone is expecting.

The mind believes what it wants to believe. It kinds like how they write "In god we trust" when all the troubles are going on into their lives. But when it comes to crypto, the mind can sometimes bend the graft and its moving averages to make it look there is an uptrend when in fact the spike up is focused in just an hour of bullish yet the 24hours is all bears.

The media just keeps creating hype out of thin air, just look at the headline with the word "Bull run". And how can you call $6,100 to $6,550 a recovery when we've the price has been fluctuating in those levels for months? If anything it's just a really smal increase (like 4%?) that doesn't merit any type of discussion as we see those price movements in the market all the time. I would call it a gradual recovery when we break through the 7k levels.
 
All in all, everyone in the cryptoshere should lower their expectations, chances to see another bull run are very low right now, no matter how unpredictable this market can be.

Not really a bull run, just minor movements hovering around the $7k area. This limited volatility is good for bitcoin so there is nothing to worry about if there is no bull run just yet, it means there is a better chance for the ETF

Doesn't look like there will be a bull run since the market is going in gradual phase so people won't make much profits by investing now so there needs to be some catalyst which can make the price movements more range so people will be interested in money making and also more new people will come to invest.

It's more important to figure out what's been going on within the market over that period than just looking at month beginning and month end in isolation. The price has been bouncing around between 6000 and 6700 for the whole month. Just because it started low and ended high doesn't mean anything, it will quite likely be back down again in a few days before rebounding again within the range.

Why not? It's just a news outlet doing what it should be doing, which is publishing as much mainstream rubbish as they can to boost their clicks and ad revenue.

I honestly don't think there is anything right now that will be able to satify the SEC to approve an ETF. They will continue to wipe every proposal (regardless of who's backing it) off the table in an instant. I'm perfectly fine with that since we don't need an ETF to increase, just patience so that the market can bottom out and consolidate.

In the end, the SEC isn't stupid. They know what happened with the futures and the same will happen with an ETF announcement. I don't think they're willing to let a similar scenario happen again in the forthcoming years.

This isn't even hype.It's some shitty clickbait article.There are hundreds of such articles about crypto prices published everyday.This is not a market analysis.It's sole purpose is to drive clicks and traffic(and ad revenue) to that website( ccn.com).Sometimes I feel that people are copy pasting those articles.They look so similar to each other.
Anyway,the bitcoin price isn't moving anywhere.It will stay between 6000-6800 USD for a long time.

well that is now what "news" should be like. and when they are publishing something that looks like "analysis" and "speculation" then it definitely shouldn't be like this. and if they do it then we shouldn't be calling them "news site" and quoting them here! I mean these sites are worst that signature spammers on bitcointalk!

Yes but why do you think the volume is low? Its most likely due to the fact that there are no sellers left in the market.

Most people either already took profits, took a loss, or are just hodling their BTC.

The trading we are seeing is mostly margin and derivative trading like on Bitmex, which has little effect since people did not deposit their coins into the exchange and actually withdraw fiat, its just for speculation.

The bitcoin price has been stable through out September 2018 and like you said is like a build up for bullish trend and we should not hesitate to invest now and makes money in future.  Cryptocurrencies market is going to recover but it might not be like it was in 2017.

We are now at the last quarter of the year and we still didn't see any big pump and been almost stable at the price of $5k-$6k. With so many things happen for the last 3 quarters, still cryptocurrencies continue to fight to stand still.

It is not really a joy actually, but we know the market will have to develop on its own actually. The thing with this market is that moving in a sideways is not actually bad and that shows that the bulls are really trying hard to want to get back in, but we all know after a huge bear trend and a bear trend which I still believe is on unless we see the trend change, the bears will obviously not give up without a fight which is what we are seeing now.

At least, it is a good thing to have seen the bull keep the $6k region as a very good support looking at the bounces we have had in the past few weeks, and I believe we might actually have a chance up even if it is in the short term, but all these is something that the market and chart will obviously have to tell us based on what we see.

It has been like this for 4 months and not just september. Price has always been going up to 7k+ levels and than going back down for the past 4 months. This is not special for september, I do not want to start a FUD about the price because it is a great thing that price doesn't go below 6k levels anymore and created a solid foundation for itself at 6k which means it will only go up so I am still bullish on bitcoin but this doesn't mean there is something special cooking up just because the price has been steady for september, same happened during summer yet nothing happened, maybe it will skyrocket maybe it will stay stable who knows.

It looks like the opposite way. Money is getting out of the stock market and crypto markets. If both markets keep going together, we are still to see a record low this year, as the S&P 500 was overinflated and it seems ready to blow.

Not really,all the gradual increase of the bitcoin prices comes to the $6500 again in few minutes today so it is clear that there will be no bull run in the near future.The recovery will be much longer so keep holdinh your coins much longer guys!

Yeah that's true...we should not worry if no bull run will come for this year as we can have it on next year. We should consider this year as a time to invest and hold our coins for the next good year for bitcoin and cryptocurrency.

It could be a case for a bull run, but it is actually not something anyone should be focused on right now, considering that sideways movement can eventually lead to any way, either south or north and until the break out happens before we can even ascertain where next.

One thing I am certain about right now is that this market is in an uncertain stage and expecting bull run by all means can actually end up getting some people disappointed if they end up not seeing what they expected but all the same, however the market comes there is always going to be an opportunity to take advantage of it.

Well, that is optimism at the moment and a lot is being said already with the sideways movement we are having presently in the bitcoin market and most other markets. For now, the bulls have really been proving strong and gradually making some attempt at the moment, but how the market tends is something we just have to wait and see. We are seeing dojis everywhere and the market trying to decide where next to go, but as it is, the only way that can be known now will have to do with whoever wins the fight, between the bulls and the bears.

Bull run is really an awaited if event this year in bitcoin if so happen. The sacrifices might be so intense but people wasn't giving up, since market now has behaved badly. This is a great rewarding period for the speculators, who been there spreading negative thoughts behind the crypto community.

Nothing is actually clear yet and whether there will be a bull run or not, it is still something that cannot be ascertained yet with the movement we are seeing currently. What matters now actually is to see the way the market would break out and that is obviously the only time we can get to know how things would peradventure pan out to either the bear or the bull's side.

We are in a sideways movement and times like this it is not best to assume anything as market can decide to do whatever it likes. All we can do is to be patient and wait for it to pick a direction. If it is about a bull run however, that is obviously something I would not want to pay so much concentration on as well.

I honestly don't think that a bull run of any particular magnitude is due to happen this year.

The facts are simple, prices are still relatively stagnant and even when there may be short periods where growth happens, it's still of an extremely small volume and has never lasted long enough for it to be considered to be a trend reversal.

Besides, the bearish sentiment pretty much prevents all of this from happening I believe in the near future, as we've seen another correction hit us recently.

Of course, it would be different if the time frame was expanded. I wouldn't doubt that the recovery would come next year, but definitely not this year imo.

I agree with you, for this year there is no bull run that could happen next year.
see how long we are out of this bear market situation.

I don’t think so; the price is the same as it was in march 2018. Increase one day for about $200-$300 and downs the next day. Due to these fluctuations the price is almost constant for several months. There is no positive trend in the price and no signs for bull run in the market. These conditions will continue till the end of the year, but hope that the next year will be better.

true no bull run for this year because there's still no sign. of market to bullish.  For me probably just a small pump only around 9k before year end.  But no need to worry especially if you're a holder which is don't ever sell at lose, just keep holding and always control your emotions to avoid being greedy and regrets , indeed market will recover again soon and will never end.

Exactly my thoughts. We're familiar with what the article has describe since we have been seeing this in the last 4 months or so. And there's no bull run in the horizon as they're trying to picture it. We can call bitcoin price stable at around $6k-$6500k and might see this trend up to the end of the year.  The article is just another clickbait and it just show how the state of cryptocurrency media today. They're just posting just for the sake of meeting their weekly quota for an article and as what @Pursuer has said, there very similar to spammers here in the forum. hehehe.

Yeah there is no significance in the bitcoin market for long time. Investors are now looking here and there to get some other way for investment. I will not put my money in such coin which is not giving me any profit for long time. Sometimes I think that I should wait for some time atleast till the end of this year and then decide what to do with my investment.

I would not expect a bull run for bitcoin this year at all. From all indications, we may just only eventually get to see some sideways movement as the case may be and then accumulation period for the meantime, before we start seeing any clear direction.

However, bull run don't just happen all of a sudden, when a market picks a trend, it does that slowly and steadily before we start seeing any huge price action upward, but for now all we can do is wait and be patient to see the direction the market would pick. Probably, we may have some upward movement which would not be something too huge though before the end of the year, but that would depend.

Are we going to see another bull run this year certainly I don't think it is going to be serious one. The really bull run is going to commenced around jenuary to March next year as it happens early 2017.

I believe the best thing to do right now is to put more focus on the charts and see what it is telling us than to be reading some news about what one B.S site is saying. I have never really considered that as an option and even if you want to get to see analysis done by sane people, it is a whole lot better to not read such from mainstream media.

Whether bitcoin is undergoing a gradual recovery or not, I believe only time will tell and there is nothing anyone can do than to wait and however we even want to see a break out shortly can only be known with time.

What will be the reasons because I want to know? Every speculation must be with proof. If not so then it is just predictions and is not right to follow. The price will increase in September while we are in mid-October and the price is still the same as it was several months ago. There is no positive sign in the market and it seems that the price will not increase atleast in this year.

The reasons for next bull run are simple. When the sellers have no more coins left to sell the bull run will begin. After the Dec 2013 bull run they eventually run out of coins to sell after a couple years, only the holders remained, plus the regular buyers, the rest is history.

knowing when the sellers run out of coins is the hard part.

This price increase is actually some minor positive price correction but it doesn't seam to me this could be the sign of another bull run.
Many are waiting the end of the year with expectations of some big price rise but to my opinion this is not very likely.
If you ask me this is pure speculation without solid ground, currently there are no such indicators on the market.

There are no occurrences that can help the situation ,but if it can increase a bit or more can give a hope to me who are tired of holding. Bull run might be impossible but at no big dump again.

We have had plenty of these increases on the way down this year, and non of them resulted in anything of significance. I thought it would make people realize how useless these increases really are, but nope.

People expect different outcomes time on time again, and that while the market clearly isn't in the mood to show any signs of bullishness. We should be happy that we're still over the $6000 mark.

The market did extremely well respecting its main support level around $5800 which is an achievement on its own, especially during a bear market where the demand has dropped this much. Don't anyone dare to call $6000 low.

if you look at all these changes that people call "increase decrease" as some sort of simple fluctuations of the market while it stays stable then you can view the market in a different light. and that would be a stable price where accumulation is taking place. and that is a good sign for the bull market on the way and without any more drops this rise is being solidified.

I also think the same because there is no green signals in the market and some people speculate that the price will go up in the last months of the year. What will happen that the price will go up and the bull run will start? We should focus on the current situation of the market although we should not be disappointed but the fact is that the price is stuck almost.

bitcoin is moving fast. He sums up. Improving. but the most affected is the subcoin. The ether has to rise. Most of the project is erc20 based. and we're hurting.

I am not seeing anything like this. The price is not increasing since march 2018 as still below $7000. The market is still suffering from great corrections and I think that this situation will continue till December this year. There is no bull run in the market, but we should stay cool and hold our coins for long. Next year may be better than this one; people will come back to bitcoin.

Because around April-May, those who FOMO has left already, they just decided and say "f**k, I'm out", that's why the price seems to stabilized around the $6000-$6500. Generally speaking a bull run means more demands, however we need to understand where the demands should came from? Bakkt? ETF or Lightning Network (LN). Your guess is as good as mine. ;D

On October as well, there was one time when the price really went down however all other times the price went up or stayed same or increased just slightly. Right now we are sitting at the bottom of a price decrease that might really be it, this is all price could fall down to and I think the bull run might come quicker than people think it would.

Everyone here either is a newbie that thinks price of bitcoin goes up every December like last year or an early bird that knows the price does whatever it wants regardless of the price, however think of the whales, whales are the ones that play with the price and if newbies believe the price is going on December and the early birds telling them no, maybe they will use that to their advantage and get bitcoin higher during the last quarter and get richer by just making people believe "bitcoin can do whatever it wants regardless of the month" ideology.

I still hold my believe that price is on the verge of a huge spike very soon.

there might be a gradual rise bit not that significant as a catalyst for massive bull run base on TA, if we look at the bigger picture were still in consolidation phase, as its not yet break the resistant level, how ever this is an indication of nearing uptrend, my one cent

You know, with speculative markets, there's always a case for a run in either direction. Always a case, no matter Bitcoin in the midst of its cyclical bull run and bear periods, or the seeming perpetual sideway patterns it looks to settle itself in.

December pattern? Remember when January and spring patterns were upturned?

But well, money news need to make their bread too, so accept the points for each case but be aware that none of these have any bearings on what will actually happen.

Charts can give you nothing, because these are also manipulated and wrong. You should not believe 100% only on charts. You should do your own analysis about the coming situation of the market. It is much better to look at the trend of the people where are they going and what they want. If they want to invest in bitcoin, we will see a bull run in the coming days.