Suddenly, Cheeky Bitcoin Tops $6,000, Ditching Analysts’ Bear Market

[el doria]

Suddenly, Cheeky Bitcoin Tops $6,000, Ditching Analysts’ Bear Market

Bitcoin is almost hitting $6,000 on major exchanges again Thursday as a seven percent daily uptick sees this week’s bear market left behind.

Data from Bitcointicker shows WEX delivering a high of $6,004 at press time, with Bitstamp maxing out at $5,988.
The move marks a fresh surge for Bitcoin, which just 24 hours ago was languishing at recent lows closer to $5,000.

Despite the disruption caused by Bitcoin Gold and the forecast uncertainty from SegWit2x, enthusiasm has returned to trading markets, with even mainstream sources predicting fresh all-time highs will come in November.

Nonetheless, the rally appeared to take many by surprise, with commentators expecting an extended correction after Bitcoin price passed $6,000 for the first time last Friday.
Longer term, however, proponents are digging in to defend the virtual currency against further accusations related to pyramid schemes or bubble-like behavior.

“In the mid-1800's the world's street lights were kept alit with whale oil. Then John Rockefeller streamlined the process of refining crude oil,” advocator John Kelly of CNBC wrote in Forbes Tuesday.

“The whaling captains that did not recognize the change were left sailing a barren ocean in search of former riches, while Rockefeller went on to create Standard Oil… Bitcoin, the currency, is the incentive for all of us to become John Rockefeller.”

[fxbit]

as expected, this time around maybe will take long time before we ever see $6000 again

[paolo099]

well, during the folk BTC went down from 5k euro to 4600.. within 2 days BTCs are back to 5k.. i thought it would take longer to recover but it doesn't looks like that bad.
From now on i expect the price to steadily raise without any problem.

[kiwasmose]

Yes, it feels like bitcoin is going to the moon.
It's so powerful, maybe that's the power of faith.

[peter0425]

Yup, after the bitcoin gold split, the price dive a little and we see some roller coaster ride. But yesterday there was a suddenly surge in price, others attribute it to the looming news that amazon will accept bitcoin as mode of payment in their website. However, there's no commitment from their end so it is still consider as rumor.

well, during the folk BTC went down from 5k euro to 4600.. within 2 days BTCs are back to 5k.. i thought it would take longer to recover but it doesn't looks like that bad.
From now on i expect the price to steadily raise without any problem.

Isn't it nice when bitcoin proves our prediction wrong? LOL. You think that it will take longer to recover, however the price jump from $5300-$5700 and now almost touching $6000. So we next time don't doubt the ability of bitcoin to recover from minor price correction. The price will go upward trend, you just have to wait and hold on your bitcoins.

[TrumpD]

No surprise here, the fork let the price down a bit. It was expected. What is surprising and welcoming though is that the community seems to be ignoring bitcoin gold, hence its price is tanking and having a god impact on bitcoin rise. Expect to see a little run nearing $7000 in the coming weeks.

[iamTom123]

What we are dealing here is Bitcoin and if we look at the trading history of Bitcoin we can see that our beloved coin loves to make some nice surprises every now and then. There were times when Bitcoin got into a dip and things became hopeless and then suddenly it just came back to surging again. Maybe the market these days is already different from the market back when tulip mania occurred or the dotcom bust at the turn of the century. Or i could also be wrong, anyway.

The most important thing is that Bitcoin has become good and reliable when it comes to making a comeback and having a surge. This is the main reason why not many of the Bitcoin community are listening to naysayers outside who are pretending to be experts of Bitcoin though they are not...they are just part of the fake news of the day.

Bitcoin is real and is here to stay no matter how many Dimons can there be who will call it a fraud.

[paolo099]

Yup, after the bitcoin gold split, the price dive a little and we see some roller coaster ride. But yesterday there was a suddenly surge in price, others attribute it to the looming news that amazon will accept bitcoin as mode of payment in their website. However, there's no commitment from their end so it is still consider as rumor.

well, during the folk BTC went down from 5k euro to 4600.. within 2 days BTCs are back to 5k.. i thought it would take longer to recover but it doesn't looks like that bad.
From now on i expect the price to steadily raise without any problem.

Isn't it nice when bitcoin proves our prediction wrong? LOL. You think that it will take longer to recover, however the price jump from $5300-$5700 and now almost touching $6000. So we next time don't doubt the ability of bitcoin to recover from minor price correction. The price will go upward trend, you just have to wait and hold on your bitcoins.

if you try to predict BTC you are going to have hard time lol
It's almost like all in betting on red or black, you have 50% chance to get your prediction right, i've always loved roller coasters and BTC seems to act like that, btc gold was almost ignored by the community who is sticking to btc, nothing to worry about!

[Catmony]

Within next hardfork price might go over $7k but after segwit2x community might get divided into two distinct half that can cause real panic on the market. Bitcoin cash is still holding high price after fork and segwit2x might also hold good support, what about the main bitcoin chain? Exchanges have already stated that they will support segwit2x along with main btc chain.  

[tony_b]

Was yesterday's rise down to the rumours of Amazon accepting BTC for payments? I still think BTC will fall then surge again before the next fork.

[rumexx]

It is well known fact that Bitcoin will hit $6000 and by the first quarter of 2018  Bitcoin will test $10,000. The wide acceptance of Bitcoin and the advent of crowdfunding which is expected to continue next year is the reason for the surge in price because of demand.

[peterthegreat]

Of course it has. These analysts don't know shit. They're comparing it to Tulip mania without looking into the tech behind Bitcoin. The consensus network that allows BTC to thrive is key.