btc4lifer
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June 27, 2017, 11:32:25 PM |
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https://prnt.sc/foyjajGlobal crypto markets have made the famed M top or double top[1]. I've studied BTC, XMR, ETH and LTC charts and all are in similar positions. This only goes to show that new people coming into bitcoin treat all crypto the same. Risk off is not running to BTC instead of ALTS, it is running to FIAT. Everyone forgets that we've been in bull mode for close to 2 years. Good news like "segwit enabled" in a bear market will only push the price down! [1] http://www.investopedia.com/terms/d/doubletop.asp
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Bitcoinaire
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June 28, 2017, 02:08:08 AM |
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Blitz, how long do you speculate the bear market will last? IMO, I think it'll dip under $2,000 and then eventually continue on by late 2017/ early 2018.
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FiendCoin
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The devil is in the detail.
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June 28, 2017, 02:20:46 AM |
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Blitz, how long do you speculate the bear market will last? IMO, I think it'll dip under $2,000 and then eventually continue on by late 2017/ early 2018.
What bear market?
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"Darkness is good. Dick Cheney. Darth Vader. Satan. That's power." -Steve Bannon
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JimboToronto
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You're never too old to think young.
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June 28, 2017, 03:33:11 AM |
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What bear market?
The one in the imagination of wishful thinkers dreaming of cheap coins.
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Wind_FURY
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June 28, 2017, 07:59:44 AM |
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What bear market?
The one in the imagination of wishful thinkers dreaming of cheap coins. Nothing in Bitcoin is cheap anymore. If the price falls by 50% overnight the price would still be around $1000. That is far from "cheap".
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timerland
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June 28, 2017, 08:02:08 AM |
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Altcoins are going to be the main ones that are affected here, not bitcoin. If Segwit is implemented then bitcoin price is going to go up and be stable at a certain level. People i think are parking their funds currently in altcoins because they are afraid of the upcoming fork. Once it's gone though, bitcoin's dominance will increase by at least 20% back to an acceptable level, perhaps even 30% if ETH bubble crashes. If chain split occurs tthough hen obviously it's going to be bad for bitcoin's image, and this infightinig is definitely going to negatively impact bitcoin, and this is one of the only scenarios where bitcoin will drop alongside altcoins. What bear market?
The one in the imagination of wishful thinkers dreaming of cheap coins. Cheap altcoins? Likely. Cheap BTC? Prolly not.
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wuvdoll
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June 28, 2017, 08:18:58 AM |
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What bear market?
The one in the imagination of wishful thinkers dreaming of cheap coins. Nothing in Bitcoin is cheap anymore. If the price falls by 50% overnight the price would still be around $1000. That is far from "cheap". But $1000 is obvious cheaper compared to current prices. This was what he must be referring. @OP There are people still waiting for buying bitcoins around $800 and spreading FUDs just to make their dreams come true. Crypto world is so small hence there would be no sensible in calling "global crypto market" as there is no local market nor country specific market. Investors come and investors go, it happens across all crypto, if you are referring that then that must be right but late night recovery proved there is no power to bear yet.
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deisik
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June 28, 2017, 08:53:50 AM |
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Altcoins are going to be the main ones that are affected here, not bitcoin.
If Segwit is implemented then bitcoin price is going to go up and be stable at a certain level. People i think are parking their funds currently in altcoins because they are afraid of the upcoming fork. Once it's gone though, bitcoin's dominance will increase by at least 20% back to an acceptable level, perhaps even 30% if ETH bubble crashes I don't think that many people are parking their monetary wealth in altcoins Most of them are certainly looking for fiat, anyway. But since altcoins are way behind Bitcoin, even a small part of money withdrawn from Bitcoin will be enough to give a substantial boost to a few chosen altcoins where this money ends up in at the end of the day. This is what I personally expect to happen in July, and I think that it will be Litecoin where a few whales may choose to park their wealth in case Bitcoin is going to plummet dramatically when things start looking really grim for it in the next month
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Hhampuz
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Meh.
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June 28, 2017, 05:45:40 PM |
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Ethereum blew through its low from June 21st (excluding the GDAX $13 flash crash).
The Global Crypto Bear continues.
Looking good, and I could not be more happy. Don't get me wrong I have nothing against ETH but it's value has been insane lately while there is nothing to really support it. As we can see with the "days of red" previously where basically all the alts are crashing is just the start of this Bear market. Well spotted and I could not agree more that we are, and have been there for a while now.
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HaXX0R1337
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June 28, 2017, 07:21:25 PM |
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What bear market?
The one in the imagination of wishful thinkers dreaming of cheap coins. Everyone dream of getting the coin at a fair price, i am not hiding my frustration of letting go my coins before reaching $2000 thinking that the resistance would drag the price down and i was wrong,but since there is a pretty solid resistance at $3000 i am looking at a fair price to jump in ,before that i have to see how the market will perform till August and i am sure we wont see a bull run that crosses $3000 before that.
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Torque
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June 28, 2017, 09:35:07 PM Last edit: June 28, 2017, 09:48:45 PM by Torque |
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As a perma-bull I'm probably not allowed to mention a bear trend, or say anything that would sound alarmist. Lol.
But I will just say that from a technical standpoint and past experience, a rising price on falling volume has never been a good sign in past bull runs. We'd need some serious rising buying volume from here forward to break the 2630 level and keep going higher.
Just sayin'. Stay frosty my friends. I hope it's in the cards.
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btc4lifer
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June 29, 2017, 01:18:39 AM |
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As a perma-bull
It is one thing to be perma-bull, it is another to not understand the risks that exponentially rising price has on mid-term (weekly) trends. But I will just say that from a technical standpoint and past experience, a rising price on falling volume has never been a good sign in past bull runs.
ding ding ding Somebody knows what's going on around here!
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FiendCoin
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The devil is in the detail.
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June 29, 2017, 01:49:39 AM |
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As a perma-bull
It is one thing to be perma-bull, it is another to not understand the risks that exponentially rising price has on mid-term (weekly) trends. But I will just say that from a technical standpoint and past experience, a rising price on falling volume has never been a good sign in past bull runs.
ding ding ding Somebody knows what's going on around here! Volume may be falling because people are taking their coins off exchanges and putting them into storage due to looming hard-fork, which would drive the price up, not down. Strange times may produce strange outcomes. Don't get caught with your pants down
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"Darkness is good. Dick Cheney. Darth Vader. Satan. That's power." -Steve Bannon
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Hhampuz
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Meh.
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June 29, 2017, 09:29:25 AM |
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As a perma-bull
It is one thing to be perma-bull, it is another to not understand the risks that exponentially rising price has on mid-term (weekly) trends. But I will just say that from a technical standpoint and past experience, a rising price on falling volume has never been a good sign in past bull runs.
ding ding ding Somebody knows what's going on around here! Volume may be falling because people are taking their coins off exchanges and putting them into storage due to looming hard-fork, which would drive the price up, not down. Strange times may produce strange outcomes. Don't get caught with your pants down btc4lifer hit the nail on it's head here. Falling volume + increasing price = Fishy business. I hear what you are saying FiendCoin but I doubt that's the case. Why would people suddenly remove their coins from an exchange to HODL? The hodlers will already hodl and the traders will always trade. There's a lot of people trying to make bank on Bitcoin that are not really interested in Bitcoin at all. Very understandable though considering the % increase we've seen over the years.
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magneto
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June 29, 2017, 11:07:51 AM |
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As a perma-bull
It is one thing to be perma-bull, it is another to not understand the risks that exponentially rising price has on mid-term (weekly) trends. But I will just say that from a technical standpoint and past experience, a rising price on falling volume has never been a good sign in past bull runs.
ding ding ding Somebody knows what's going on around here! Long term holders are good, i think most of us here are indeed long term believers in bitcoin. However, if you blindly invest in bitcoin when it is at its ATH and so on then you're taking an absolutely huge risk - especially if you are trading with margin. If you're trading with your own money you're potentially losing out on a lot of profit, i mean yeah the people who bought at the 2013 ATH made 100% profit but if you bought a year later, you would have made 5-7x more And yeah, falling volume + alt hype + low bitcoin dominance, it's not a good match at all. AND the entire market cap of crypto is struggling to keep afloat above $100bil.
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btc4lifer
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June 29, 2017, 11:28:14 AM Last edit: June 29, 2017, 12:02:37 PM by btc4lifer |
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Long term holders are good, i think most of us here are indeed long term believers in bitcoin. However, if you blindly invest in bitcoin when it is at its ATH and so on then you're taking an absolutely huge risk - especially if you are trading with margin. If you're trading with your own money you're potentially losing out on a lot of profit, i mean yeah the people who bought at the 2013 ATH made 100% profit but if you bought a year later, you would have made 5-7x more
And yeah, falling volume + alt hype + low bitcoin dominance, it's not a good match at all. AND the entire market cap of crypto is struggling to keep afloat above $100bil.
I've been hodling since before the term "HODL" came to be. But I'm a trader and I'm a realist. nekrobios is absolutely correct that ETH ate our lunch for the moment and bubble conditions need to be dealt with. Some replying in this thread are just underestimating the potential downside here. They are not wrong that bitcoin will m00n further at some point in the future given that it survives. I'll leave you kind gents/ladies with the potential targets... https://www.tradingview.com/x/XcAuoR97/
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Schuyler
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June 29, 2017, 11:32:36 AM |
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If we have really welcomed the bears, then it is still a good sign in my opinion, and we should view it as a big open window of opportunity to invest, because the bulls might just take over anytime, so no better time to invest than when the bears are still in control.
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btc4lifer
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June 29, 2017, 11:34:05 AM |
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2. Altcoin and ICO bubble. When there are $150 million ICOs, there is nothing more to say. Looking at Ethereum, it has pierced its 300 low, an entirely new behaviour in its chart highly suggestive that its bubble has popped. We all know Bitcoin was bought to buy into altcoins. When the altcoin hype fades, so does demand for Bitcoin.
This should be updated to the $750 million figure with the bancor / status raises I'm sure these ICOs don't see any risk in HODLing an asset that has 50% swings in weekly time frames
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deisik
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June 29, 2017, 12:10:39 PM |
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As a perma-bull I'm probably not allowed to mention a bear trend, or say anything that would sound alarmist. Lol.
But I will just say that from a technical standpoint and past experience, a rising price on falling volume has never been a good sign in past bull runs. We'd need some serious rising buying volume from here forward to break the 2630 level and keep going higher
I strongly support that view And this is what I've been telling myself recently. I saw people selling their bitcoins with prices plummeting to around 2,200 dollars per coin, and then price somehow managed to revert to 2,500 dollars but the market is thin. It basically means that those who sold their stashes don't buy back and seem to prefer to stay in fiat for the time being. As to me, that doesn't bode well for Bitcoin, and the price may easily crash if some negative news hits the tabloids (of Jihan Wu comes up with a new "initiative")
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FiendCoin
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The devil is in the detail.
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July 04, 2017, 03:42:30 AM |
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As a perma-bull I'm probably not allowed to mention a bear trend, or say anything that would sound alarmist. Lol.
But I will just say that from a technical standpoint and past experience, a rising price on falling volume has never been a good sign in past bull runs. We'd need some serious rising buying volume from here forward to break the 2630 level and keep going higher
I strongly support that view And this is what I've been telling myself recently. I saw people selling their bitcoins with prices plummeting to around 2,200 dollars per coin, and then price somehow managed to revert to 2,500 dollars but the market is thin. It basically means that those who sold their stashes don't buy back and seem to prefer to stay in fiat for the time being. As to me, that doesn't bode well for Bitcoin, and the price may easily crash if some negative news hits the tabloids (of Jihan Wu comes up with a new "initiative") Seems real bearish to me With all the CSW drama, I'm surprised we didn't drop to 1800 tho. Bitcoin seems to be very resilient to FUD these days.
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"Darkness is good. Dick Cheney. Darth Vader. Satan. That's power." -Steve Bannon
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