Bitcoin Surging Anew

[deisik]

As I was then expecting last week, there would be a little surge of Bitcoin price within this week and it our darling currency pushed over $200 to a high of $2783.

While understandably there are those who are spreading FUD all over the net on the August One Event, the market is already getting immune

I don't think it is ever possible in respect to such events

It is like getting immune to a headshot. That said, I certainly agree the Bitcoin has become much more resilient to attacks like we saw in early 2017 by the Chinese authorities and various rumors predicting its demise in the nearest future. Nevertheless, as soon as prices begin rising dramatically, some influential dude inevitably comes out and says something which sends the price deep south. Last time it was Jihan (and a few previous times as well) threatening to hard fork Bitcoin in a month's time. It kinda seems that market should now prepare itself in advance since it is certain that there should be further rounds of escalation rising around Bitcoin

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[jorneyflair]

As I was then expecting last week, there would be a little surge of Bitcoin price within this week and it our darling currency pushed over $200 to a high of $2783.

While understandably there are those who are spreading FUD all over the net on the August One Event, the market is already getting immune.

The major reason for this recent surge is the  news that finally SegWig2x consensus has already surpassed 80% and we can soon see what the whole Bitcoin community is wishing for.

I have a strong faith that eventually things can get ironed out and that the interests of the majority would prevail as we are now witnessing the history of Bitcoin unfolds before our very eyes...with Bitcoin evolving and progressing towards the future.

The markets are definitely going to retry to hit $3000 before any sort of adjustments comes through.

If the price gets sort of just "stuck" there at $2950, and not break the magical $3000 mark then I wouldn't be surprised at all if the price is extremely negatively affected by this news. Although the difference between $2950 or $2970 which is the ATH i think and $3000 is just a few dollars, it is the difference between having major news outlets covering bitcoin and a lot of new people being able to know about bitcoin, and not.

I would expect by the end of the month bitcoin either be a) Having $3000 as the new floor or b) Crash down to $2400-2500, just stablizing there.

[btcney]

As I was then expecting last week, there would be a little surge of Bitcoin price within this week and it our darling currency pushed over $200 to a high of $2783.

While understandably there are those who are spreading FUD all over the net on the August One Event, the market is already getting immune.

The major reason for this recent surge is the  news that finally SegWig2x consensus has already surpassed 80% and we can soon see what the whole Bitcoin community is wishing for.

I have a strong faith that eventually things can get ironed out and that the interests of the majority would prevail as we are now witnessing the history of Bitcoin unfolds before our very eyes...with Bitcoin evolving and progressing towards the future.

1st August is a date taht a lot of people are exaggerating. TBH if the fork goes well there will probably be another wave of pumps because people don't have the fear of having a chain split in their heads anymore, or even if there was to be a chain split they can buy into the respective tokens with all their balance instead of having two separate ones.

Either way, i think it is extremely likely that we're oging to see a level just under or just over $3000 by 1st August.

Long term wise i believe that bitcoin will scale smoothly. This is just a very small point on the history of bitcoin for the future to come, there will be more debates in the future, obviously. So don't worry too much, hold if you want, sell a bit if you're worried.

[audaciousbeing]

As I was then expecting last week, there would be a little surge of Bitcoin price within this week and it our darling currency pushed over $200 to a high of $2783.

While understandably there are those who are spreading FUD all over the net on the August One Event, the market is already getting immune.

The major reason for this recent surge is the  news that finally SegWig2x consensus has already surpassed 80% and we can soon see what the whole Bitcoin community is wishing for.

I have a strong faith that eventually things can get ironed out and that the interests of the majority would prevail as we are now witnessing the history of Bitcoin unfolds before our very eyes...with Bitcoin evolving and progressing towards the future.

There is no doubt about the fact that bitcoin is being getting immune from various news as this and the direction of price is mostly  determined by majority of the participants in the market which is me and you that we not allow news to influence us which at the end of the day will not live to the expectations of the initial paparazzi that greeted the arrival of such news. SegWit will be activated to make us have more seamless transactions and not to change our positions.

[abercrombie]

Looks like we're bull flagging...

hopefully we'll get some price action this weekend! 

[pixie85]

Looks like we're bull flagging...

hopefully we'll get some price action this weekend! 

The SegWit news are creating this positive aura around Bitcoin. Litecoin is also doing great. It's possible both will gain 10% before the end of Summer.
Just don't forget that when everybody is getting excited it can end bed. The majority is rarely correct when predicting the market.

[Kemarit]

As I was then expecting last week, there would be a little surge of Bitcoin price within this week and it our darling currency pushed over $200 to a high of $2783.

While understandably there are those who are spreading FUD all over the net on the August One Event, the market is already getting immune.

The major reason for this recent surge is the  news that finally SegWig2x consensus has already surpassed 80% and we can soon see what the whole Bitcoin community is wishing for.

I have a strong faith that eventually things can get ironed out and that the interests of the majority would prevail as we are now witnessing the history of Bitcoin unfolds before our very eyes...with Bitcoin evolving and progressing towards the future.

The markets are definitely going to retry to hit $3000 before any sort of adjustments comes through.

If the price gets sort of just "stuck" there at $2950, and not break the magical $3000 mark then I wouldn't be surprised at all if the price is extremely negatively affected by this news. Although the difference between $2950 or $2970 which is the ATH i think and $3000 is just a few dollars, it is the difference between having major news outlets covering bitcoin and a lot of new people being able to know about bitcoin, and not.

I would expect by the end of the month bitcoin either be a) Having $3000 as the new floor or b) Crash down to $2400-2500, just stablizing there.

Yes, the market will try to hit that magical number $3000. But we don't know how long can we get there. Right now we are fluctuating in the $2600-$2700 the last days of so. Maybe this is indicative that it may take long before we get to $3000. We will get the eventually and hope that we can sustained that price. I'm just hoping that there would be no FUD again otherwise the price dip and we are back to $2400-$2500 again. Also, we have to wait and see how Australia will impact the price in July 1, before preparing for the Aug 1 Segwit2x activation.

[deisik]

Looks like we're bull flagging...

hopefully we'll get some price action this weekend! 

The SegWit news are creating this positive aura around Bitcoin. Litecoin is also doing great. It's possible both will gain 10% before the end of Summer.
Just don't forget that when everybody is getting excited it can end bed. The majority is rarely correct when predicting the market

This is certainly true for saturated markets

In these markets the majority of traders is invariably set to lose in the end since, first, amount of money in the market (the pie to be shared) remains more or less the same, and, second, most traders can't grab even a tiny share of the pie simply because all the pie will be taken by and shared between those who have indisputable advantage before these ordinary traders, i.e. insiders, exchanges, arbitrageurs, and their likes. But Bitcoin is nowhere near that even if it essentially remains a zero-sum or zero-sun (no light at the end of the tunnel) game. As long as it expands while its price rises due to this expansion (i.e. the pie itself grows), you can safely buy and hold, and you will proved right most of the time

[buwaytress]

that's just the start. very soon more ICO owners will want to sell their funds they have received in their ICO sells and we are talking about a couple of million dollars for each of them not just small amounts!
and when that happens all the money will crash ETH and will come back to bitcoin and lead to higher rise.

Actually, you may be on to something there. Even if half of all these ETH-based ICOs actually progress onto their development stages, we've still got the offloaders who'll be looking to dump tokens. That's really going to drive BTC demand in the second half of 2017.

[Chin Cheng]

While understandably there are those who are spreading FUD all over the net on the August One Event, the market is already getting immune.

It not all about spreading FUD all the time,one thing everyone accept is that there is a certain uncertainty with the things that are going around and we have ,i really think we could see some movement in the price but can we see any big rally in both directions i really do not think so unless there is any major negative news coming out.

[aTriz]

As I was then expecting last week, there would be a little surge of Bitcoin price within this week and it our darling currency pushed over $200 to a high of $2783.

While understandably there are those who are spreading FUD all over the net on the August One Event, the market is already getting immune.

The major reason for this recent surge is the  news that finally SegWig2x consensus has already surpassed 80% and we can soon see what the whole Bitcoin community is wishing for.

I have a strong faith that eventually things can get ironed out and that the interests of the majority would prevail as we are now witnessing the history of Bitcoin unfolds before our very eyes...with Bitcoin evolving and progressing towards the future.

The resaon for the adjustment i think came aloncg with a lot of altcoin interest. I mean if you look at the coinmarketcap historical snapshots a week ago you see all the altcoins going up even though bitcoin is going down in fiat terms, which means that they are just absolutely shooting off the charts.

This is obviously not something that is sustainable. I like to think that when there are ICOs, money flow out of bitcoin, into altcoins such as ETH(most ICOs only accept ETH these days) to obtain the tokens that the guy is after.

I wouldn't be surprised at all if this new surge in price is caused by ethereum crashing. There is only this much money in cryptos, and if eth goes down, bitcoin goes up. It's sort of a 0 sum game. I wouldn't be surprised if ETH loses another 10 billion in market cap soon, boosting the bitcoin market cap to over $50 billion and therefore bitcoin will be over $3500.

[freebutcaged]

Where is this surge mate? I think you need to see a doctor, price was much higher than this $2700 and we'll for sure see that again.

It's refreshing to see not even a major mining farm with a hefty hash power can devalue Bitcoin and even when they talk about split

Just to cause a chaos in markets and as a result other holders panic and sell then those fuckers going and buy them all just to sell

To other new people, this is a manipulation resistance muscles Bitcoin is forming around itself, surprisingly every time Chinese try to

Manipulate the price some mysterious force deploys a countermeasure for it and further pushes the price up.

[Victorycoin]

Looks like we're bull flagging...

hopefully we'll get some price action this weekend! 

The SegWit news are creating this positive aura around Bitcoin. Litecoin is also doing great. It's possible both will gain 10% before the end of Summer.
Just don't forget that when everybody is getting excited it can end bed. The majority is rarely correct when predicting the market.

When everybody is upbeat about the market, that readily translates to real market signal and it hardly goes wrong especially for assets like Bitcoin that relies heavily on demand and supply for direction. As many are of the view that $3000 level is by the corner, exactly so it shall turn out to be.

[deisik]

I wouldn't be surprised if ETH loses another 10 billion in market cap soon, boosting the bitcoin market cap to over $50 billion

That pretty much shows how misinformed and misguided you are

Namely, misinformed and misguided about how little market cap means in real life. First, if Ethereum market cap loses 10 billion dollars, it doesn't mean that so many dollars had actually been received or retrieved by selling that many tokens. Further, whatever the real amount of dollars would be, it won't be suffice to change the Bitcoin market cap even by 1 billion dollars. If you don't understand why it is so (which you don't since otherwise you wouldn't be saying what you say), just accept that you got fooled by figures which have nothing to do with real market dynamics

[btc_angela]

Looks like we're bull flagging...

hopefully we'll get some price action this weekend! 

The SegWit news are creating this positive aura around Bitcoin. Litecoin is also doing great. It's possible both will gain 10% before the end of Summer.
Just don't forget that when everybody is getting excited it can end bed. The majority is rarely correct when predicting the market.

When everybody is upbeat about the market, that readily translates to real market signal and it hardly goes wrong especially for assets like Bitcoin that relies heavily on demand and supply for direction. As many are of the view that $3000 level is by the corner, exactly so it shall turn out to be.

$3000 may be around the corner, but for me, it looks like we may take long before breaking this price. I don't know if everybody is upbeat about the market translates to real market signals. I haven't seen bitcoin move that much in the past day. And now it's going down again after touching $2700.