Bitcoin Forum

it is starting with the first green dildo appearing today surprising many users and showed a small sign of FOMOs starting again as price suddenly jumped up to reach 39k in less than an hour.

this could be the beginning of seeing more green dildos indicating lots more FOMO to come.

https://i.imgur.com/yEmNEqT.jpg

Today we had 2k$ ... 1 min candle XD That was insane. Insane performance.

My bet is that we are going to attack 45-55k zone after what market will show us true direction. Either we are continuing bull run or it is only a bull trap (If that's the beginning of bear market ... we did not have bull trap yet)

We did get up here really quickly but the price does seem to be sustained quite well for the short term (we've been above 38k for over 7 hours now and I'd expect we'll get to around 41k with this move - unless we're rejected a bit).

We've been red for 3 months now so even a green monthly close would probably drive some sort of trend change - especially if it gets more dramatic and can push higher.

There has been speculation it was a short squeeze, and most of the recent trading activity took place between 34-36k over the past month. A bunch of 10x shorts around there starting at 34k and you've got a recipe for a very big squeeze.

Hopefully no one got a lesson on what bad risk management can do...

What a spike! 14 hour difference from $33k to $39k. There is a strong support around $38k holding pretty solid for 6 hours. If this run stretches for 3-8 day we might see $40-50k again (Hopeful).

My bad I sold all my BTC in USDT a few days ago I thought that it's the end of the bull run but it seems it's the end of the bear market.

Is it because of rumors about Amazon? I heard that they are going to accept tokens according to the news and I heard they are looking for crypto developers who has experienced on crypto payment gateway?

I hope it's true and let's see the price coming in few months.

Fun fact.

"Ebay is 'seriously considering' accepting bitcoin" https://finance.yahoo.com/news/ebay-seriously-considering-accepting-bitcoin-164410989.html

Guess the date.
...
....
12 december 2017 - right before final push from 15k to 20k ... right before beginning of 3 year bear market. After few months thay said that the demand is negligible and they give up on this idea. Hope that this Amazon news won't end up same way :) Final push to catch last bulls into bull trap.


BTW Thats my #3000 post :) "Total time logged in: 129 days, 1 hours and 33 minutes."

I can't get behind calling it dildos but I am happy that the market is going green already. Be careful to everyone who plans to buy right now because of FOMO.

that is the problem with selling in the dip after the dumping and panic is all over and done. it is practically guaranteed to lose money if you sell.

i don't like it either and i barely use the term but now that the big rise came at the same time as the short squeeze the term "dildo" seemed appropriate for all those butts that hurt today because they shorted bitcoin and lost money.

I didn't see the jump to $39k, when I wake up, the price is more than $38k though, I also got unlucky selling at $34k because I needed some though, prior to the massive spike, ouch.

In any case, yeah this could be the start of FOMO again, and we all know that once it sets in, it's hard to stop. But in seems that we are having some resistance on the $40k barrier. If this could be broken though,  then $50k can be touch early next week the start of new month for us.

Will be interesting to see if it can break through $40k area and head higher this week to signal the end of the mini-bear market. I've been expecting to stay in the $30,000s market bottom range for another month or two, but wouldn't mind being wrong!

that was a very strange expectation though because bitcoin has been in $30k range for 3 months already and to expect 2 more months of the same thing doesn't make any sense to me. 5 months of no move?!!

in any case the momentum so far has been excellent and if it is sustained over the following 24 hours and we break $40k this momentum will only grow.

Hard to tell but most likely because community do commonly react when the price is starting to move out after that very long time of moving sideways which everybody is really on that hesitation on
making up a position.

It is just a matter of some initial movement to make up some trend and i dont see any news or sentiments that did really trigger out bitcoins price and it did just soar up even though on small percentage
but it is way more better than on previous weeks.

Green dildos? Lets hope for that it would happen in next days.

There were quite a number of good news for the price that didn't have any effect. But they were piling up.
Was the critical mass achieved and the FOMO kicks in? I can't tell yet for sure.

Still, with the hash rate looking healthier, with the news, with the shorters getting rekt 3 times in a row (https://bitcointalk.org/index.php?topic=5351022) and now with some new green dildos too... it may just be the time. I am somewhat afraid to hope too high, but I do hope that you're right.

The only dildos I allow to make my day.

Maybe that's the reason, but not the cause.

But, why would the hashrate have anything to do with the price? Why would someone buy Bitcoin if he read an article that describes it became securer? One and a half year occupying myself with Bitcoin and still haven't understood these two terms' relation.

It's not only about the security.
The bigger the hash rate (actually the difficulty) the more work an ASIC must perform (more hashes to send) for the same reward.
While the hash rate dropped the remaining miners were getting bitcoin easier (i.e. also cheaper in terms of electricity consumption) hence they were on profit also if they sold cheap.

Damn. Didn't expect this post to age that well. Few ours after my post we see spam of articles "Amazon denies report of accepting bitcoin as payment" - https://ph.news.yahoo.com/amazon-denies-report-accepting-bitcoin-215220333.html

And dump 9% in 2.5h.  Looks like this time "big company accept bitcoin" news was used like during 2017 bubble. After such strong rejection ... I think we may retest 30k once again.

you jump to conclusions very fast.
it was an orchestrated FUD to start the negative news right as price hits $40k. it wasn't some random coincidence, they are desperately trying to keep the price from going up but the momentum is still strong so all they could do was to postpone the rise and we are headed for $40k again.

If amazon accept btc was a fake news, and they corrected it at the 40k price target means that their goal is not to "desperately trying to keep the price from going up". They would not create fake bull news before. It means that their goal is to drive market price right where they want it to go ... meanwhile shaking out professional traders. Short/long ... everyone. If chart is unchartable, price moves hysterically based on fake news, pro traders stops trading. Gamblers always stays to lose all money on high, random volatility. Characteristic in key moments on BTC either before bear market start or bull market start.

Recovery is nice... I agree. Its not like I'm sure about this 30k retest. I just don't like how market moves hysterically based on news with negligible long-term value. It usually doesn't end well

One sort of people earn from this, well aside from the whales who create these conditions : long term investors. People like me who keep on buying and putting some aside will earn no matter what, it doesn't matter if it goes down now, it doesn't matter if it goes up later, only thing that matters is how much money you can make from it in the future, if you have a price point of let's say 200k dollars per bitcoin, then you can wait for it, maybe it will hit that in a year, maybe in 5 years, you can accumulate more and more in the future until it reaches there, if you think it will be 200k, then buying at 190k won't be a problem, so keep on getting more and more, same goes with other coins as well.

So I do not care if the whales want to manipulate it to make it bad, I do not care if they make it good, only thing I care about is the fact that we could make a good profit in the long term, even 64k didn't excite me, because I know it can be 5x more than that in the future.

Long term investors don't earn on short term volatility. And short term volatility is what this topic is all about. And pretty much you said it by yourself in next fragment of your post saying that you, as long term hodler, don't care about whales manipulations.


So first part of your post contradicts the next part of your post.

Good amount of momentum I would call that, when it just stacks up green daily bars its unusual because a pullback is to expected especially before weekends.

https://talkimg.com/images/2023/06/12/Ayrq2.png

My guess here is we can move towards the 200 day average as part of a wider range to mirror the 50 week average both of which are yearly averages in different perspectives but perhaps useful divergence to border this lower action.   200 day in this case is far more bullish but theres enough positive traders on board then it can happen near term even, we have a much weaker dollar recently I noticed which greases the rails no doubt.
   I'd advise caution reentering orbit on Sunday into monday thats when main market bets come back online and can mean some sells.  If it gets past that turbulence then possibly we do get 44k or similar which is really extreme movement and growth from lows out of nowhere almost.

^^ We are in the turbulence phase right now, as we are about to break into $42k, (or if might have been broken already.)

So still there is a positive movement as we enter weekend, another week of positive movement during Sat-Sun. But the bigger move should be expected by Monday Aug 2 as we are on a momentum build here targeting $44k-$45. Short term we might be looking $50k tops and then let's see how it goes.

we've had an interesting week so far. there seems to be a fight between the market manipulators and the rest of the world and the manipulators are failing an losing money in the process.

here is FOMO dildos one after another:
https://i.imgur.com/6JHCvO3.jpg

This week Bitcoin has had an incredible move, imagine finally making it surprisingly high up to $45k. This is a good start with quite a shock for
Bitcoin to return to $45k, which is very difficult for many to imagine. With Bitcoin's performance this week, a sign Bitcoin will return to the next
resistance price, possible in the near future the target of $50k is likely to be achieved. So don't be too quick to sell the Bitcoins we have,
we just need to be patient right now holding Bitcoin that we have.

I don't think it's difficult to hit $45, specially if there is FOMO. We have seen it before, the problem as pointed out by @BrewMaster is that there are fight in the middle, manipulators wanted to bring it down, while average joe and regulars traders, which the majority is coming, wanted to keep the price to go up. That's why the price goes in the middle, at $43k. But then again, FOMO is hard to stop once the engine gets hot, so the push again to $45k.

45-46 thousand dollars is a big deal, but it is also a risky level, if we can continue to go up, that means 50k+ will be piece of cake, there isn't much resistance between 47k to 50k+ for example, so if it reaches over 47k then it means it will probably reach over 50k as well. These type of small details matter a lot, and with every single move we are getting ready for a bigger move.

However same goes for under 42k as well, if we go under that level, the support is quite weak, incredibly weak even, all the way to 30k there is absolutely nothing that can keep the price high, and it will keep going down. Only way to prevent that would be to stay around these prices for longer and longer so that we can establish the strong price at these points. In the end we need time, that's all we need for both directions, as long as we have time then we can know more about the future.

Bitcoin's increase of 15% in 7 days has actually answered our doubts where Bitcoin will move. Like you said FOMO has already happened and it seems
quite difficult to stop, so it's just a matter of time for Bitcoin to go higher. Moreover, if it is helped by good news, the possibility of Bitcoin's increase
can be even more drastic, because good news can encourage FOMO. So I see Bitcoin is on the right track now.

There is some resistance to $47k as it seems a hard barrier to break right now. And the resistance to $50k will be much greater as we all know that this whole number price are what speculators are looking for.


I'm not gonna say that it is weak, the support level is there, it's that when we reach that price, many have panic, specially newbies that's why the price will simply go down despite the support. But after a couple of days, the support will be established again. And that's where the very definition of fluctuation sets in for crypto market.

Can we stick to candles? Calling them dildos have some sort of silly sound to it and a naughty one too. I do hope that this run won't end prematurely because I observe that when bitcoin goes up in such a fast pace, it's always followed by really long bear or red candles that could last for months.

Everything in the current world is about being viral and good marketing, even the silliest things could get the most insane profits, some idiotic video on youtube about a tiny baby biting on his little brothers hand and little brother saying "charlie bit me" could get millions upon millions of views. So, if you call it candlesticks then yeah you could get some attention, green candlesticks means that we are profiting and that is good, and is something we will be happy about.

However, if you call them green dildos, that is a lot better marketing and a lot more ready for a viral situation that gets everyone tweeting about green dildos, which in return means hype about it, which means higher prices. I doubt that it will end anytime soon, we are on the verge of breaking ATH with just one more push the same way, if we have another %50 like we just had, that is breaking ATH, and quite insane to think about.

For now we may continue seeing the high flashes of green than it goes down because there isn't any FOMO around bitcoin now, the recent news have been on adoption and that may continue that way for a longer time until it changes. A little drop today showed up but that is nothing to compare to the gain of 72 hours and last week. Is a new wave of bull and altcoins following up.