Would the bitfinex ''hack'' be the trigger of the next major rally?

[wikenpp]

I think there is a possibility for a rally, but chances are not that large. I think we'll indeed see during September/October. During this month most likely bitfinex faith will be decided, so as that has happened, I think it will be either a huge push or pull

The rally seems to be over and honestly it would be good if the price of bitcoin would just settle down.
Remember too much volatility is an nightmare for the average investor. If we want adoption to happen, stability is very important. Even more so for the growth of bitcoin into the currency market.

[gentlemand]

Crypto currencies and Bitcoin did not fail you my friend... The idiots running these third party services failed you. I can understand your rage, because I have lost some money on other exchanges

Those pesky humans are always going to be a factor. Third party organisations are a necessity for the foreseeable future to facilitate usage. It's up to users to support the properly operated ones rather than follow the blind greed. That's easier said than done.

[miayama]

I think there is a possibility for a rally, but chances are not that large. I think we'll indeed see during September/October. During this month most likely bitfinex faith will be decided, so as that has happened, I think it will be either a huge push or pull

The rally seems to be over and honestly it would be good if the price of bitcoin would just settle down.
Remember too much volatility is an nightmare for the average investor. If we want adoption to happen, stability is very important. Even more so for the growth of bitcoin into the currency market.

The bitcoin price is consolidating at the moment. After a few weeks of consolidation, the price will rise to $700.

[ASHLIUSZ]

I think there is a possibility for a rally, but chances are not that large. I think we'll indeed see during September/October. During this month most likely bitfinex faith will be decided, so as that has happened, I think it will be either a huge push or pull

The rally seems to be over and honestly it would be good if the price of bitcoin would just settle down.
Remember too much volatility is an nightmare for the average investor. If we want adoption to happen, stability is very important. Even more so for the growth of bitcoin into the currency market.

The bitcoin price is consolidating at the moment. After a few weeks of consolidation, the price will rise to $700.

The bitcoin price has declined to $530 per bitcoin by bitfinex hack and rise again to $580 where it has stayed for quite some time. Now it would seem that the bitcoin price might be on its way up again.

[Shiroslullaby]

People are realizing that an exchnge hack doesn't mean as much as it did a few years ago.
It will take a few more weeks but the price will go back up to where it was previously.
If it will go any higher is hard to predict.

[potatopower]

I think there is a possibility for a rally, but chances are not that large. I think we'll indeed see during September/October. During this month most likely bitfinex faith will be decided, so as that has happened, I think it will be either a huge push or pull

The rally seems to be over and honestly it would be good if the price of bitcoin would just settle down.
Remember too much volatility is an nightmare for the average investor. If we want adoption to happen, stability is very important. Even more so for the growth of bitcoin into the currency market.

The bitcoin price is consolidating at the moment. After a few weeks of consolidation, the price will rise to $700.

i hope you are right, the price might become to such prices as 1000 dollar per bitcoin, that would allow us all to make some good profit really easily

[maydna]

I think there is a possibility for a rally, but chances are not that large. I think we'll indeed see during September/October. During this month most likely bitfinex faith will be decided, so as that has happened, I think it will be either a huge push or pull

The rally seems to be over and honestly it would be good if the price of bitcoin would just settle down.
Remember too much volatility is an nightmare for the average investor. If we want adoption to happen, stability is very important. Even more so for the growth of bitcoin into the currency market.

The bitcoin price is consolidating at the moment. After a few weeks of consolidation, the price will rise to $700.

i hope you are right, the price might become to such prices as 1000 dollar per bitcoin, that would allow us all to make some good profit really easily

it will be need some time when reach 1000 dollar, not in this year, maybe in next year and i really hope to like you 

[LogHangingConsortium]

The major sell-off at the beginning of the late 2013 bubble looks similar. Both sell-offs are after a bear market and in a beginnig of a bull market.

What do you think?

Sorry OP. Markets hate it when 70 mil. of their "store of value" go *Poof!*
Wish it wasn't like that, but it is :\

[Wind_FURY]

The major sell-off at the beginning of the late 2013 bubble looks similar. Both sell-offs are after a bear market and in a beginnig of a bull market.

What do you think?


Update, my prediction:

It looks similar because in general these patterns occur more or less in different markets. A major rally may or may not happen after the dump but will not be the trigger of the next rally. It triggered the dump that happened before the next rally should be the right statement.

The next rally will not happen until next year. Bitcoin traders and whales have a much harder time manipulating BTC today than compared to 2 years ago.

[pooya87]

I think there is a possibility for a rally, but chances are not that large. I think we'll indeed see during September/October. During this month most likely bitfinex faith will be decided, so as that has happened, I think it will be either a huge push or pull

The rally seems to be over and honestly it would be good if the price of bitcoin would just settle down.
Remember too much volatility is an nightmare for the average investor. If we want adoption to happen, stability is very important. Even more so for the growth of bitcoin into the currency market.

The bitcoin price is consolidating at the moment. After a few weeks of consolidation, the price will rise to $700.

i hope you are right, the price might become to such prices as 1000 dollar per bitcoin, that would allow us all to make some good profit really easily

it will be need some time when reach 1000 dollar, not in this year, maybe in next year and i really hope to like you 

i don't think $1000 is the next step, bitcoin has been rising slowly and even the big rise was small (it was only $250 when it went madly towards $700+) and this time i think price will rise to $750 and become stable there like any other 50 ish price before that.

[miayama]

I think there is a possibility for a rally, but chances are not that large. I think we'll indeed see during September/October. During this month most likely bitfinex faith will be decided, so as that has happened, I think it will be either a huge push or pull

The rally seems to be over and honestly it would be good if the price of bitcoin would just settle down.
Remember too much volatility is an nightmare for the average investor. If we want adoption to happen, stability is very important. Even more so for the growth of bitcoin into the currency market.

The bitcoin price is consolidating at the moment. After a few weeks of consolidation, the price will rise to $700.

i hope you are right, the price might become to such prices as 1000 dollar per bitcoin, that would allow us all to make some good profit really easily

it will be need some time when reach 1000 dollar, not in this year, maybe in next year and i really hope to like you 

i don't think $1000 is the next step, bitcoin has been rising slowly and even the big rise was small (it was only $250 when it went madly towards $700+) and this time i think price will rise to $750 and become stable there like any other 50 ish price before that.

I agree with that. The could stay around the current level for the next few months, if there is no good news to drive up the price.

[illyiller]

The major sell-off at the beginning of the late 2013 bubble looks similar. Both sell-offs are after a bear market and in a beginnig of a bull market.

What do you think?

This sell-off came after a bear market? How do you figure? We've been trending upwards for a year since basing and retesting the $150-220 range. Hence being near $600 now.

I was pretty open to a continuation of the 2009-2013 rally, but I'm guessing the 2015-2016 rally was a correction after all.

[Oralmat]

I think there is a possibility for a rally, but chances are not that large. I think we'll indeed see during September/October. During this month most likely bitfinex faith will be decided, so as that has happened, I think it will be either a huge push or pull

The rally seems to be over and honestly it would be good if the price of bitcoin would just settle down.
Remember too much volatility is an nightmare for the average investor. If we want adoption to happen, stability is very important. Even more so for the growth of bitcoin into the currency market.

If you see bitfinex hack in a positive way for bitcoins then you will see that even after the Major exchange hack the people again investing in bitcoins and the current price again increasing.

This shows that bitcoin is now fully trust able.

[talkbitcoin]

I think there is a possibility for a rally, but chances are not that large. I think we'll indeed see during September/October. During this month most likely bitfinex faith will be decided, so as that has happened, I think it will be either a huge push or pull

The rally seems to be over and honestly it would be good if the price of bitcoin would just settle down.
Remember too much volatility is an nightmare for the average investor. If we want adoption to happen, stability is very important. Even more so for the growth of bitcoin into the currency market.

If you see bitfinex hack in a positive way for bitcoins then you will see that even after the Major exchange hack the people again investing in bitcoins and the current price again increasing.

This shows that bitcoin is now fully trust able.

bitcoin was trust-able even before the hack, this hack had nothing to do with bitcoin itself and once again it proved that we can not really trust an exchanger with our money.

and until people don't learn from their mistakes this will happen again and again every couple of months.

[Kakmakr]

I hope we will have a bit of a steady growth period now, and not this volatility every week. As a retailer, I hate this volatility, because it ties my moving capital down. I have to wait for the price to rise before I can convert back to fiat. In many instances I had to wait for 2 to 3 week.

I always sell at a 5% higher price to cover the fees for that conversion. ^smile^

[Nimbulan]

I think there is a possibility for a rally, but chances are not that large. I think we'll indeed see during September/October. During this month most likely bitfinex faith will be decided, so as that has happened, I think it will be either a huge push or pull

The rally seems to be over and honestly it would be good if the price of bitcoin would just settle down.
Remember too much volatility is an nightmare for the average investor. If we want adoption to happen, stability is very important. Even more so for the growth of bitcoin into the currency market.

The bitcoin price is consolidating at the moment. After a few weeks of consolidation, the price will rise to $700.

thats true, i think that even higher prices will be possible because the recovery from the pump will definitely cause a really big pump

[pooya87]

sadly enough the okcoin news and the court order for their money laundering seems to be ruining everybody's expectations so far.

so i guess there will be more downward trend before the rise and big rally.

[Denker]

sadly enough the okcoin news and the court order for their money laundering seems to be ruining everybody's expectations so far.

so i guess there will be more downward trend before the rise and big rally.

The Okcoin case is a civil case and is 2 years old and the exchange will pay the victim 40% of its' loss.It has been reduced and was 80% before that.
This won't have any significant influence on the future price development.

[Capradina]

I think there is a possibility for a rally, but chances are not that large. I think we'll indeed see during September/October. During this month most likely bitfinex faith will be decided, so as that has happened, I think it will be either a huge push or pull

The rally seems to be over and honestly it would be good if the price of bitcoin would just settle down.
Remember too much volatility is an nightmare for the average investor. If we want adoption to happen, stability is very important. Even more so for the growth of bitcoin into the currency market.

The bitcoin price is consolidating at the moment. After a few weeks of consolidation, the price will rise to $700.

thats true, i think that even higher prices will be possible because the recovery from the pump will definitely cause a really big pump

It could have happened, but I think after the unpleasant event like this. It will be very difficult for us to meet, because surely the owner of funds will think first. This may happen in the future. This is a case that is big enough and is detrimental to many people, as well as more

[miayama]

I think there is a possibility for a rally, but chances are not that large. I think we'll indeed see during September/October. During this month most likely bitfinex faith will be decided, so as that has happened, I think it will be either a huge push or pull

The rally seems to be over and honestly it would be good if the price of bitcoin would just settle down.
Remember too much volatility is an nightmare for the average investor. If we want adoption to happen, stability is very important. Even more so for the growth of bitcoin into the currency market.

The bitcoin price is consolidating at the moment. After a few weeks of consolidation, the price will rise to $700.

thats true, i think that even higher prices will be possible because the recovery from the pump will definitely cause a really big pump

It could have happened, but I think after the unpleasant event like this. It will be very difficult for us to meet, because surely the owner of funds will think first. This may happen in the future. This is a case that is big enough and is detrimental to many people, as well as more

The bitcoin price is directionless at the moment. In fact it is drifting lower at the moment. If there is no good news, the price will be lower.