this is because of the manipulated (aka pump and dump) nature of the altcoin market. you can always see huge rises (aka pumps) and sudden out of nowhere big drops (aka dumps). and the important thing is to accept this if you want to survive in this market.
knowing it you can figure out a way to steer in this market so that you take the profits and always move around avoiding the dumps but embracing the pumps.

the upside potential never technically went away, bitcoin always had that upside potential and will have it until mass adoption occurs and finishes.

but expecting a big rise just because a small one occurred does not sound logical to me. as many are expecting these days we may be on a slow rising trend instead of the wild big jumps as last year.

the bitcoin price recovery above $7k was mainly because of the fact that price had reached bottom and it was time for us to see a rise after months of dropping. lets not forget that price fell nearly 70% and this is the  correction of that huge drop.
the news like this is important but at the end of the day bitcoin still goes up because of its growing adoption.

it is about some idiots who don't understand how the market works trying to explain it to themselves trying to come up with some sort of excuse explaining why they lost money in bitcoin, instead of looking at reality and accepting the fact that they lost money because they listened to the FUD by some random dude on the internet.

the "crypto industry" is not one place or one person to go unite with something!!! it is a big world of different people and a lot of different projects in it.

the banksters have already entered some of it. for example the altcoins they control and pump and dump. but that doesn't change anything for the whole thing. it is just one group taking advantage of the bad situation in the altcoin market. if a cryptocurrency (like bitcoin) is  decentralized it is decentralized and that is not going to change.

to make a profit from this market you have only two options otherwise you are in for a huge loss.
option one is to remain a newbie but only stick to the safest option meaning bitcoin so that your risks are minimal and you can be nearly sure of  a better future of what you bought.
option two is to become a trading expert so that you can take advantage of the altcoin pump and dumps and make a lot of money.

yeah and the pessimism of some others doesn't cease to amaze me!

even the previous time that we reached the bottom after Mt Gox took only 8 months approximately. how can this time take a "couple of years"

yeah very red. it went from $6300 to $7500 then $7300.... so very very red. bitcoin must be dead now.

are you sure that this comment was from 2013? because back then price didn't really last at $200 really for the idiots like this guy you are quoting to make comments about it. price was practically passing through $200 towards $1200 and before that it stayed around $80-$100 as the bottom aka accumulation phase/

i think this type of comment, specially because of the price mentioned in it belonged to 2 years after, meaning 2015 where we were at the bottom at $200 and idiots like that guy were bullshitting around the internet

this was not a big deal in my opinion. but at the same time this was a nice rise because it brought bitcoin price back to above $7k which is more reasonable price for it specially after the bottom was hit.
we can't talk about price mooning at this point or any kind of bull run though. but this is a good sign in any case.

it certainly seems like it but i am still afraid of putting any money in the altcoins they seem to have exhausted their pumping abilities for now and because majority of newbies are now scared of the market because of their huge losses so far i don't think there are that many pumps possible for the big coins anymore.

this is inaccurate. back in 2013 there was practically only one exchange working and that was Mt Gox because it had a huge percentage of the daily volume. there were others but their share of the market was too small.

the only advice i can give you is that long term investment in altcoins is a waste of time. the only cryptocurrency that is worth holding in the long run is bitcoin.
for example if you use of those portfolio manager websites and put in all these altcoins you are now bag holding with the amount of money you invested in them but use the date and time of 1-1.5 year ago and then compare it with if you went 100% in bitcoin, you can see that bitcoin would  have given you a LOT more profit.

the ETF news is already about a week old and the rise happened today. the hype of ETF has also been big a week ago so i don't think this rise has anything to do with that.

in the future if they reject it, that would be another repeat of the history and nobody would care but if they accept it then it would be the first time and it will come as a shock to the market which may lead to a big price rise.

this mainly my hope but i think after a couple of years we will stop seeing a lot of shitcoins exist or be created and we will start seeing a much smaller number of them while these top big pumped altcoins die away and give their place to good projects that are doing something real.

we broke the resistance that was at $7000 so now the price is rising faster than usual. you can expect a lot more rise like the last time too. it is in the realm of possibility to continue seeing FOMO buys all day long and we can easily see $9000+ again in a short time because all the newbies who were falling for the FUD for the past month and were waiting for the "drop" that never came are now going to FOMO buy.

a good plan is a plan that doesn't need to change every day specially since the market doesn't change at all. the altcoin market for instance is pretty much the same as it was years ago and will remain the same for years to come.
my plan is to use this market to earn more profit on my bitcoins while participating in the altcoin pump and dumps in the best way that i can.

your source is not a trusted website, it is one of those click bait news sites that publishes crap just to get more traffic and you post the link here to increase the traffic.

from the other sources that i have read China has never banned cryptocurrencies. their government even released a bullshit ranking of cryptocurrencies recently. how can they rank something they have banned?
https://qz.com/1280458/china-now-rates-bitcoin-ethereum-and-other-cryptocurrencies-and-their-blockchain-tech/

the author of that article should really teach us how he magically pulls numbers out of his ass because it is a rare talent.
yesterday the reports from China came that there was a betting ring with cryptocurrencies which summed at $1.5 billion....

it is because ever since their website was closed (btc-e.com) by the FBI and there were arrests people have not been trading there in the alternative website. they got scared and stayed away from this site and used other places.
that means the orderbooks are not as crowded as before and they can swing wild like this from time to time.

LOL, even 2 years ago when China was a big thing in the news and their volume that they reported (for fake i might add) were huge, they didn't have any effects on the price.
now that their exchanges are closed and their volume is real and low they don't even have that fake effect for FUD purposes

maybe you are right but explain something to me, last year we have had multiple ETFs one of which was from Winklevoss which was the most promising and SEC rejected all of them and bitcoin was the same as today back then. so what makes you think this time it is any different?