Bitcoin Weekly Update: Is the BTC bear market over?

[Hallmader]

Latest weekly update is now live here:

https://www.cryptoadvocate.net/post/bitcoin-weekly-update-01-12-2020

Worth a read, but main takeaway is that spot and margin exchanges are telling different stories which paints a conflicting picture. Until $8,500 is gained on a closing basis, can't rule Bitcoin as out of the woods but as long as $7,700 holds on a closing basis I'm favoring longs into the halving.

Kind of dangerous to take sides at these times. One day it seems the bears are gone, the following day it seems the bears are very much awake. It is very hard to play short and long. For me, Bitcoin should hold onto $8,000. That is a stronger support than $7,700.

[cutesgirl]

I think bitcoin market is not ever because always get bad news about bitcoin price suddenly without we can't prediction before, many people always try how to make investor panic with bitcoin assets have to sell with lower price and try other way how to make investor panic moment when buying bitcoin with higher price, just careful with many news about bitcoin and altcoin price.

[SaShiRaJaVu]

^^^ I am completely confused on what you are trying to tell. If you are talking about the price you as an investor does not need to panic if you are able to invest when the price was low even if there are many FUD news coming out and even if the market goes down it usually recovers in a few days and i am sure you are watching the trend for a long time and if you are not able to understand the trend then it is better not to trade.
 

 

[crwth]

The article is not that bad. Comparing the weekly ending charts with Bitmex and Binance. They have one key difference, and that is the value volume in the exchanges, and I think it accounts for how much trading can be done in a specific period like short term trading, probably daily trading. I'm into a bullish sentiment too with this year, knowing that there's the halving. Hopefully, it does also, and I'm on Bitmex and the long side.

[Viscore]

as long as $7,700 holds on a closing basis I'm favoring longs into the halving.

This is the most important, support is what is needed for bitcoin to rise, and since the halving is coming, people should be bullish months before the halving schedule and it's possible for bitcoin to stay over $10,000 and IMO it could probably hit $15,000.

We know that hype makes everything possible and we all witnessed that last 2017 bull run where btc rose as high as $20,000 and altcoins gone crazy.

I think it could possibly happen if not this year, then the next few years.

[ethereumhunter]

Bitcoin trend still on the bear market, and it's not over yet. We still see this will happen again this month, but I guess that we will have to see it will change in the future. We can hope that the price is not down $7700 or lower than that price because if that happens, people will panic, and they will sell instantly. Bitcoin itself has a chance to increase this week if there is massive demand at the market, but let us see it later because we could only predict from the market movements.

[beerlover]

We can't call it really "over" just yet because we need to see some sort of bigger movements for bitcoin to call that, yes we had a good increase recently but that doesn't mean that we are out of bear right away, right now it got a bit more stagnant once again and that is really hurting our call for a bull run, that is why I think another increase is required.

Of course, this is a better situation we are in now than just a month ago when bitcoin price was trying to push under 7 thousand dollars but that is kinda what happens when the price tries to go lower and fails so whales get that it won't go down more that easily so instead of pushing even harder and spending even more money they just decide the easy way is to go up and that is what we are living right now with this price.

[Oceat]

Latest weekly update is now live here:

https://www.cryptoadvocate.net/post/bitcoin-weekly-update-01-12-2020

Worth a read, but main takeaway is that spot and margin exchanges are telling different stories which paints a conflicting picture. Until $8,500 is gained on a closing basis, can't rule Bitcoin as out of the woods but as long as $7,700 holds on a closing basis I'm favoring longs into the halving.

Kind of dangerous to take sides at these times. One day it seems the bears are gone, the following day it seems the bears are very much awake. It is very hard to play short and long. For me, Bitcoin should hold onto $8,000. That is a stronger support than $7,700.

Just hodl if you aren't sure to short or long it is the nature of the market to be more volatile so it is expected already. We can't seem to know what was the real reason behind of this movement of the market but the recent events of the war between US and Iran I think is just a trap to lure and let people believe that it greatly made a move because of the war but it turns out it's a trap.

[sunsilk]

I think bitcoin market is not ever because always get bad news about bitcoin price suddenly without we can't prediction before, many people always try how to make investor panic with bitcoin assets have to sell with lower price and try other way how to make investor panic moment when buying bitcoin with higher price, just careful with many news about bitcoin and altcoin price.

And it is the people's choice to panic, we've used to those bad news and it becomes our daily articles to read since a few years ago and yet others still don't get how to overcome it. We have different POV about the bear market being over and others can validate that it has actually ended.

While for others, because we've seen some corrections and that tends to be the bear market staying 'belief'. However, if we classify and identity the market by 2018 and 2019, we can fairly say that it was a good year and the price soared to $13,000.

[Gozie51]

As if bitcoin is still in a bearish forest up and down there is still no certainty to the safe zone of $8500 but in terms of technical analysis bitcoin movement will be so great in the future because it will draw conclusions backwards.

I think it is even too early to begin to look into the bear run being over. We just got into a new year and in most years in the past, bitcoin hasn't done very well in January. For instance, 2018, 2019 is an instance that we see looking fresh for reference.

[Wexlike]

As if bitcoin is still in a bearish forest up and down there is still no certainty to the safe zone of $8500 but in terms of technical analysis bitcoin movement will be so great in the future because it will draw conclusions backwards.

I think it is even too early to begin to look into the bear run being over. We just got into a new year and in most years in the past, bitcoin hasn't done very well in January. For instance, 2018, 2019 is an instance that we see looking fresh for reference.

What will you say when we break out of the downward channel with force and end up being above $9k or even $10k ? Is it still to early to call the defeat of the bears ?

[hello_good_sir]

It's hard to say. One could argue that we were never in a bear market to begin with since the downfall from $14k+ was simply a correction that was imminent due to the fact that the markets go so overheated and such. It was completely unexpected and the sentiment of the market hasn't really changed too much for the worse.

But 2020 is certainly a much more bullish year in general compared to 2019.

Given all the hype around the halving, I think that at the very least, it could become a self fulfilling prophecy. Of course the scarcity of new mined coins will also rise, but the most immediate impact will be a surge in bullishness because of the fact that people expect a bull market to occur.

[maxreish]

It is not forever bear remember that. As long as we don't go down at $6k level then it is fine and we will still go for another way up to $8500-$10,000. Since it touched $8k level then indeed a good sign for bullish market. Though it I am also getting profits by having some short trades but I still have my btc so go for the bull!  

On the other hand, I saw the charts from the site. And this week's price will truly possible to go bear thay's what I can see, too base on the technical analysis.

[fabiorem]

I will only believe it when I see 12k, and it will need to hold this price for some weeks, not just touch it.

[Juggy777]

Latest weekly update is now live here:

https://www.cryptoadvocate.net/post/bitcoin-weekly-update-01-12-2020

Worth a read, but main takeaway is that spot and margin exchanges are telling different stories which paints a conflicting picture. Until $8,500 is gained on a closing basis, can't rule Bitcoin as out of the woods but as long as $7,700 holds on a closing basis I'm favoring longs into the halving.

@cryptoadvocate bitcoin prices have crossed $8500 on preev, and it seems that the bulls are slowly and steadily coming back to the crypto market and this time I sincerely hope they stay for a long time. It’s pertinent to note that in my personal opinion I feel that bitcoin prices will reach $10k by the end of February what do you’ll think of my prediction?.

Extra Information: https://www.newsbtc.com/2020/01/14/bitcoin-smashes-resistance-next-bullish-levels/

[karanggatak]

I think it's too soon if we say the bear market is over. although over the past two weeks the price of bitcoin tends to increase, it doesn't mean the bear market has ended. because the increase in bitcoin is not too big and also several times bitcoin also decreases and then rises again. and in my opinion bitcoin will dump again before halving. so I think right now we are still in the bear market.