Slow gains and stability

[Red-Apple]

It's interesting to analyze the predictions of only one week ago

The price is still pretty stable and has even recovered a bit - that surprised me a bit, I had expected a price of about 2200-2400. It has broken out of the triangle we talked about then, but to the upside, not to the downside, although it seems that the short term trend goes sideways and we stay inside the limits (ups and downs) of the last month.

For me that is a confirmation that we're still in "wait and see" mode - the market is waiting for fundamental news about Segwit and the future of the scaling debate. Maybe the holiday season in the Northern hemisphere is also driving down volatility.

i believe that it is mostly because of the constant good news that keeps coming in!
the recent increase in the SegWit signalling hashrate.
the couple of countries that removed the taxes on bitcoin payments
are the two bigger ones.
but i also agree market is still in the wait and see mode despite all this.

[alyssa85]

I wouldn't be so certain of that

US dollar lending interest rates are falling like a second or even third week in a row at Bitfinex, with more and more dollars wanting to be lent out (right now it's over 6 million dollars at ~0.07 daily interest). A month ago the rates were 3 times as much (people were borrowing dollars to buy bitcoins to sell them at a premium). This basically tells us that traders are moving from Bitcoin to fiat as a safe haven. Also, we could look at Bitcoin volume traded during the last few days. If this value went down (which seems to be the case), we could expect an abrupt crash in the Bitcoin price when someone relatively big starts selling out and then panic sell-offs inevitably kick in

Actually, the same conditions can be observed at Poloniex. Only three weeks ago, people were snapping up loans of 0.2% daily interest, but over 100BTC of offers now are below 0.09% daily interest - with an almost blank window for loan demands. I'm very suprised to see BTC back at 2,500 today but this thinning volume's bound to set off a knee-jerk reaction.

It's because there arn't any alt pumps at present. Wait till they start pumping ether again - the interest rates will start to soar...

[deisik]

It's interesting to analyze the predictions of only one week ago

The price is still pretty stable and has even recovered a bit - that surprised me a bit, I had expected a price of about 2200-2400. It has broken out of the triangle we talked about then, but to the upside, not to the downside, although it seems that the short term trend goes sideways and we stay inside the limits (ups and downs) of the last month.

For me that is a confirmation that we're still in "wait and see" mode - the market is waiting for fundamental news about Segwit and the future of the scaling debate. Maybe the holiday season in the Northern hemisphere is also driving down volatility

You shouldn't limit your observations to Bitcoin only

And while Bitcoin has been trending sideways, Litecoin has finally jumped over 50 dollars per coin (and made an ATH at slightly above 55 dollars at Bitfinex). It could be interpreted in the way that it receives some liquidity which continues to escape from Bitcoin. Indeed, the markets of these coins are simply incomparable so far, i.e. a small outflow of money from Bitcoin cannot seriously affect its prices as of yet (in fact, Bitcoin price could even rise a little due to some random aberration), while it is more than enough to pump Litecoin. And we should not forget that, as the proverb goes, many a little makes a mickle

[BigBos]

Maybe such a hike is very good, because a steady and stable price increase makes us have the opportunity to collect bitcoins, and hold bitcoin for a very long time. It will be very good for those who patiently store the bitcoin they have.

[tigershark]

It's interesting to analyze the predictions of only one week ago

The price is still pretty stable and has even recovered a bit - that surprised me a bit, I had expected a price of about 2200-2400. It has broken out of the triangle we talked about then, but to the upside, not to the downside, although it seems that the short term trend goes sideways and we stay inside the limits (ups and downs) of the last month.

For me that is a confirmation that we're still in "wait and see" mode - the market is waiting for fundamental news about Segwit and the future of the scaling debate. Maybe the holiday season in the Northern hemisphere is also driving down volatility

You shouldn't limit your observations to Bitcoin only

And while Bitcoin has been trending sideways, Litecoin has finally jumped over 50 dollars per coin (and made an ATH at slightly above 55 dollars at Bitfinex). It could be interpreted in the way that it receives some liquidity which continues to escape from Bitcoin. Indeed, the markets of these coins are simply incomparable so far, i.e. a small outflow of money from Bitcoin cannot seriously affect its prices as of yet (in fact, Bitcoin price could even rise a little due to some random aberration), while it is more than enough to pump Litecoin. And we should not forget that, as the proverb goes, many a little makes a mickle

We're in a tight trading range for Bitcoin but after huge gains, stability is probably good. I also like that litecoin is starting to show signs of life. I was hoping it would increase more like zcash, etherium, and Dash which have made huge gains lately.

[izanagi narukami]

Three years ago, bitcoin stay on $ 400 and it's exist over a year and three years later , bitcoin value increase exponentially since many country legalize bitcoin. And for now, IMO it will repeat or it won't since I'm heard SEGWIT issue is really cause people can't think clearly whenever they sell or just hold

[deisik]

It's interesting to analyze the predictions of only one week ago

The price is still pretty stable and has even recovered a bit - that surprised me a bit, I had expected a price of about 2200-2400. It has broken out of the triangle we talked about then, but to the upside, not to the downside, although it seems that the short term trend goes sideways and we stay inside the limits (ups and downs) of the last month.

For me that is a confirmation that we're still in "wait and see" mode - the market is waiting for fundamental news about Segwit and the future of the scaling debate. Maybe the holiday season in the Northern hemisphere is also driving down volatility

You shouldn't limit your observations to Bitcoin only

And while Bitcoin has been trending sideways, Litecoin has finally jumped over 50 dollars per coin (and made an ATH at slightly above 55 dollars at Bitfinex). It could be interpreted in the way that it receives some liquidity which continues to escape from Bitcoin. Indeed, the markets of these coins are simply incomparable so far, i.e. a small outflow of money from Bitcoin cannot seriously affect its prices as of yet (in fact, Bitcoin price could even rise a little due to some random aberration), while it is more than enough to pump Litecoin. And we should not forget that, as the proverb goes, many a little makes a mickle

We're in a tight trading range for Bitcoin but after huge gains, stability is probably good. I also like that litecoin is starting to show signs of life. I was hoping it would increase more like zcash, etherium, and Dash which have made huge gains lately

Don't get lulled by this pseudostability

Whenever Bitcoin appears to become more stable, it just proves to be what is called "the calm before the storm" one time more. And the longer the calm, the stronger will be the storm, while this time the price might not go just one direction (as they typically do), i.e. either up or down, it is possible that it will be rather a combination of the two, in arbitrary order. Regarding Litecoin, the reason that it doesn't get hyped and pumped as much as other altcoins out there is simple though not so obvious. Basically, it can't be hyped since it has been there for too long and it hasn't been premined at that. What it means is that it is likely the most traded crypto now, i.e. most of its monetary supply gets actually traded or circulated, so its market cap may be the real market cap (unlike other altcoins like Ethereum with its 80% of premined coins)

[Baofeng]

It's interesting to analyze the predictions of only one week ago

The price is still pretty stable and has even recovered a bit - that surprised me a bit, I had expected a price of about 2200-2400. It has broken out of the triangle we talked about then, but to the upside, not to the downside, although it seems that the short term trend goes sideways and we stay inside the limits (ups and downs) of the last month.

For me that is a confirmation that we're still in "wait and see" mode - the market is waiting for fundamental news about Segwit and the future of the scaling debate. Maybe the holiday season in the Northern hemisphere is also driving down volatility

You shouldn't limit your observations to Bitcoin only

And while Bitcoin has been trending sideways, Litecoin has finally jumped over 50 dollars per coin (and made an ATH at slightly above 55 dollars at Bitfinex). It could be interpreted in the way that it receives some liquidity which continues to escape from Bitcoin. Indeed, the markets of these coins are simply incomparable so far, i.e. a small outflow of money from Bitcoin cannot seriously affect its prices as of yet (in fact, Bitcoin price could even rise a little due to some random aberration), while it is more than enough to pump Litecoin. And we should not forget that, as the proverb goes, many a little makes a mickle

We're in a tight trading range for Bitcoin but after huge gains, stability is probably good. I also like that litecoin is starting to show signs of life. I was hoping it would increase more like zcash, etherium, and Dash which have made huge gains lately.

I think there are no such thing as stability price of bitcoin. Its either go up and down. However, we are now just seeing a somewhat slow gain this past weeks or so. Maybe because people are worried about Aug 1. But as far as LTC goes, its about time that this coin should be in the spotlight after BTC and ETH, LTC has been around too long that at least investors should also take a look at this coin as well.

[wxa7115]

It's interesting to analyze the predictions of only one week ago

The price is still pretty stable and has even recovered a bit - that surprised me a bit, I had expected a price of about 2200-2400. It has broken out of the triangle we talked about then, but to the upside, not to the downside, although it seems that the short term trend goes sideways and we stay inside the limits (ups and downs) of the last month.

For me that is a confirmation that we're still in "wait and see" mode - the market is waiting for fundamental news about Segwit and the future of the scaling debate. Maybe the holiday season in the Northern hemisphere is also driving down volatility.

Every week in the crypto market is a wild ride, at the moment we lost billions of dollars in the market cap of all coins that is now sitting at 88 Billion, I think most of the capital that has left the market is going to go once again to Bitcoin if I’m correct then I think we are going to see a market cap for bitcoin of 65 to 75 billion dollars in the next months.

[soul-impact]

It's interesting to analyze the predictions of only one week ago

The price is still pretty stable and has even recovered a bit - that surprised me a bit, I had expected a price of about 2200-2400. It has broken out of the triangle we talked about then, but to the upside, not to the downside, although it seems that the short term trend goes sideways and we stay inside the limits (ups and downs) of the last month.

For me that is a confirmation that we're still in "wait and see" mode - the market is waiting for fundamental news about Segwit and the future of the scaling debate. Maybe the holiday season in the Northern hemisphere is also driving down volatility.

Every week in the crypto market is a wild ride, at the moment we lost billions of dollars in the market cap of all coins that is now sitting at 88 Billion, I think most of the capital that has left the market is going to go once again to Bitcoin if I’m correct then I think we are going to see a market cap for bitcoin of 65 to 75 billion dollars in the next months.

The fact is, nowadays, many people are losing a lot of money, even someone is bankrupt, this is a fact in the virtual currency world, there is not anything to secure you, The market is like a double-edged sword, and it changes constantly.

[killerfrost]

From the "slightly bullish" price movement at the beginning of this thread we moved now to a "slightly bearish" trend, but still nothing to worry about - no relevant price mark has been broken so far.

The market is still in "wait and see" mode. I guess it will stay there for the next three weeks, until there is real news respect to Segwit2x deployment. It's understandable, as normally it would be a good moment to take profits, but on the other hand, doing that one risks "missing the train" if Segwit2x leads to another rally - and as we know because of the "buy the rumours" effect, the rally can begin any day, if some insider has interesting information (or wants to make us believe he/she has)

I wouldn't be so certain of that

US dollar lending interest rates are falling like a second or even third week in a row at Bitfinex, with more and more dollars wanting to be lent out (right now it's over 6 million dollars at ~0.07 daily interest). A month ago the rates were 3 times as much (people were borrowing dollars to buy bitcoins to sell them at a premium). This basically tells us that traders are moving from Bitcoin to fiat as a safe haven. Also, we could look at Bitcoin volume traded during the last few days. If this value went down (which seems to be the case), we could expect an abrupt crash in the Bitcoin price when someone relatively big starts selling out and then panic sell-offs inevitably kick in

The fiat nowadays is preferred by the traders because of the segwit application, one when the segwet will be over after the month of august I hope that people will once again start buying the Bitcoin and what if the price of the Bitcoin went high during the month of august ?

I am sure people are planning to look at both sides of the picture and will decide to what to do. Even if the price gets low I believe that the Bitcoin is able to bring it back to $3000 soon. There must be some panic sellers but besides we have the risk takers are keeping their coins.

I'll keep your coins in any way. First I have not so much, and secondly I didn't buy them. All my coins honestly earned. I share my income in Fiat and crypto so I'm willing to take the risk. I advise everyone not to panic and keep your coins.

Taking risks is a must for any trader. That is the nature of their work, and they themselves must always risk their decision, just one wrong decision, they will have to pay for it.

[d5000]

You shouldn't limit your observations to Bitcoin only

And while Bitcoin has been trending sideways, Litecoin has finally jumped over 50 dollars per coin (and made an ATH at slightly above 55 dollars at Bitfinex). It could be interpreted in the way that it receives some liquidity which continues to escape from Bitcoin.

In my opinion, Litecoin seems to be a "hedge" for people that don't believe that around August 1 everything will end well, and that's why it lost much less than other altcoins in the recent altcoin crash. As Litecoin has already activated Segwit, it has the same public that could potentially love Bitcoin's planned Lightning Network, so it could receive support from people from the "Core fraction".

The other altcoins have completely decoupled of Bitcoin, having lost 50, 60 or even more % with respect to their ATH. Bitcoin is still surprisingly stable, although it lost a bit these days, and I think it is the same reason I keep citing: people don't want to miss the possible Segwit bubble after August 1 if everything goes well.

[HasHe]

The last couple weeks we have seen a relative stable price with slow upticks. Many prefer to see this rather than huge instant rises. I like the fact we have been holding in in the 2700 to 2800 range last several days. We know from past summer is a quiet period. If we stay at this range through summer I would be quite happy.
Get through August unscathed then gain some momentum heading into the latter half of the year!

It would be good if bitcoin increases slowly and steadily but its high impossible for bitcoin to be expected to remain steady as volatility is its main nature and it could not be controlled.

[itsallpc]

The last couple weeks we have seen a relative stable price with slow upticks. Many prefer to see this rather than huge instant rises. I like the fact we have been holding in in the 2700 to 2800 range last several days. We know from past summer is a quiet period. If we stay at this range through summer I would be quite happy.
Get through August unscathed then gain some momentum heading into the latter half of the year!

Definitely,instead of instant rises followed by sudden dips in price would affect the progress of bitcoin more.It would be better if bitcoin price increases slowly but steadily.That would create a strong user base for bitcoin.Volatility is also a major reason due to which more retailers are not ready to accept bitcoin payments.

[deisik]

You shouldn't limit your observations to Bitcoin only

And while Bitcoin has been trending sideways, Litecoin has finally jumped over 50 dollars per coin (and made an ATH at slightly above 55 dollars at Bitfinex). It could be interpreted in the way that it receives some liquidity which continues to escape from Bitcoin.

In my opinion, Litecoin seems to be a "hedge" for people that don't believe that around August 1 everything will end well, and that's why it lost much less than other altcoins in the recent altcoin crash. As Litecoin has already activated Segwit, it has the same public that could potentially love Bitcoin's planned Lightning Network, so it could receive support from people from the "Core fraction".

The other altcoins have completely decoupled of Bitcoin, having lost 50, 60 or even more % with respect to their ATH. Bitcoin is still surprisingly stable, although it lost a bit these days, and I think it is the same reason I keep citing: people don't want to miss the possible Segwit bubble after August 1 if everything goes well.

It is not just "your opinion"

It seems to be what can be loosely interpreted as an established fact of sorts (at least, as much as such things can be firmly established at all). It could be possible also that Litecoin's price is resilient specifically due to other altcoins crashing, i.e. people are liquidating their stashes and moving their wealth to Litecoin (so it can be mostly altcoins' internal business, so to speak). Bitcoin is too big (to fail), and even if small fraction of liquidity that leaves it ends up with Litecoin, we will see an insane rise in Litecoin's price. But we are not there yet, and most people withdrawing their capital from Bitcoin are likely parking it right in the US dollar as of yet