Fundstrat’s Robert Slyumer: Bitcoin Must Rally Through $6,300

[Altcoins enthusiast]

Bitcoin has break $6300 yesterday, so are we expect another bull run like it has been happening before? I see a strong break yesterday that  keeps bitcoin above $6600 through out the night. I think bitcoin is more of bullish trend now than bearish trend.

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[audaciousbeing]

All of these predictions to me are bound to fail as I see it as a form of wave of the moment expression of opinion without any basis but because of the importance that has been attached to some people in crypto by virtue of the position they occupy in the industry either as entrepreneurs, developers, or business owners they are meant to always be in the news to showcase their oratory and analytical skills in other to continue to be relevant in the media. The market is not developed enough for its behavior to be restricted to maps, graphs and historical analysis. A decision somewhere in the remotest part of the world could nullify the whole prediction at the same time someone who just realized he could make money can decide to dump 100 btcs while others will follow him. They should just keep their predictions to themselves and allow the market be the determining factor of what price will be.

[Lucius]

Nothing new from Fundstrat, just a another person with some new "wisdom" that BTC must do something just because he think like that, based on 15 day studies - imagine if he studied BTC for 30 days

Regarding Tom Lee’s prediction, even if in this moment that 25k $ seems very elusive we should all remember that exactly a year ago price was only 2400 $, and by end of the year reached its peak at 20k $. I do not know can we see something like that this year, but if a new one pump happens, then it will be much easier to reach 25k $ then 20k $ last year.

Well Tom Lee's very bullish predictions seems to be off the mark since he started to open his mouth specially during the bearish trend and no amount of influence really swayed investors to pour their money plus their confidence in the market. For me, to be really safe, $10k will be a good gauge to see that. However, its around April or May that we see the price almost touch it, but then again it started to free fall again. Looks like though we have broken the $6300 mental barrier, but the question is, can it be sustained or just another bull trap in the making?

I have some feeling that in the days ahead we could test 7000$, but we can also go down close to 6000$-it is very hard to predict anything in such a tricky market. But it is interesting to see how price jump by 250-300$ just in a few minutes, so if we hold at 6700$ few days next jump can bring us to 7000$. But if we can see big pump like last year it will probably start at about the same time - it take only a month from November 2017 to December 2017 from 7000$ to 20 000$.

The only question is whether something encourage such a sequence of events again.

[bbc.reporter]

@Lucius. A big pump similar to what we have seen last year was a rare occassion, I reckon. We would also be very fortunate to have that happen again within 2 years. But what do we know, the market might surprise us hehehe.

[pooya87]

Nothing new from Fundstrat, just a another person with some new "wisdom" that BTC must do something just because he think like that, based on 15 day studies - imagine if he studied BTC for 30 days

Regarding Tom Lee’s prediction, even if in this moment that 25k $ seems very elusive we should all remember that exactly a year ago price was only 2400 $, and by end of the year reached its peak at 20k $. I do not know can we see something like that this year, but if a new one pump happens, then it will be much easier to reach 25k $ then 20k $ last year.

Well Tom Lee's very bullish predictions seems to be off the mark since he started to open his mouth specially during the bearish trend and no amount of influence really swayed investors to pour their money plus their confidence in the market. For me, to be really safe, $10k will be a good gauge to see that. However, its around April or May that we see the price almost touch it, but then again it started to free fall again. Looks like though we have broken the $6300 mental barrier, but the question is, can it be sustained or just another bull trap in the making?

I have some feeling that in the days ahead we could test 7000$, but we can also go down close to 6000$-it is very hard to predict anything in such a tricky market. But it is interesting to see how price jump by 250-300$ just in a few minutes, so if we hold at 6700$ few days next jump can bring us to 7000$. But if we can see big pump like last year it will probably start at about the same time - it take only a month from November 2017 to December 2017 from 7000$ to 20 000$.

The only question is whether something encourage such a sequence of events again.

you are talking about a transaction, more like a complete U turn. and that takes a lot of time. first the bear market has to end and drops to stop. then we have to see some sort of in-between-period which will be the accumulation/uncertain phase while market makers buy bitcoin and everyone else gives up on it.  then we see a slow rise and finally the "big bang" to the moon.

the thing in 2017 from $7k to $20k didn't start there. it started from $200 in 2015 which was the accumulation phase and all the rest.... i am not saying it will happen the same way with same time frames but it should still be similar.
this time i suppose we can see the big rallies in 2019 but that doesn't mean no rise in 2018 either. we can see at least $10k before the year ends.

[marcbitcoins]

Let's just wait and see then because who knows the bullish run is now just around the corner as we are at $6,300 already. I don't believe in predictions anymore as there are lot of them really failed to happen this year but this is better than spreading FUD in which it will just make the market worse.

[Lucius]

@Lucius. A big pump similar to what we have seen last year was a rare occassion, I reckon. We would also be very fortunate to have that happen again within 2 years. But what do we know, the market might surprise us hehehe.

When we look at the complete history of BTC this is true, always something special is needed to start big pump and in last December many thinks BTC futures were the decisive factor. Others say this is not true, but if you check all threads/post about futures at that time, many was thinking that futures means big money will come in BTC(and it was, from ordinary people pockets). Now we can wait next "big thing", or next halving maybe.

[bbc.reporter]

@Lucius. No, remembering it all, I reckon it was nothing but the biggest speculatory pump in bitcoin's history. Many newbies who wanted to get rich quick have entered the market and they kept on buying without an indication what bitcoin is. The mainstream news media and fund managers kept on hyping the price, and there is the bitcoin community who kept on pushing for the idea that bitcoin will replace fiat.

What would Warren Buffet say? I reckon it looked like a scam for him hehehe.

[BitcoinNewbie15]

Bitcoin has break $6300 yesterday, so are we expect another bull run like it has been happening before? I see a strong break yesterday that  keeps bitcoin above $6600 through out the night. I think bitcoin is more of bullish trend now than bearish trend.

Well, it's still above $6,600... It has been maintaining this rate, but honestly, it is still too early to tell if the bear market is broken. I think a move above $7000 will confirm this, but until then, we can assume the bear market is still in effect. According to Robert Slyumer we should be in good shape, but so far Fundstrat doesn't have the best record for predictions. 

[Lucius]

@Lucius. No, remembering it all, I reckon it was nothing but the biggest speculatory pump in bitcoin's history. Many newbies who wanted to get rich quick have entered the market and they kept on buying without an indication what bitcoin is. The mainstream news media and fund managers kept on hyping the price, and there is the bitcoin community who kept on pushing for the idea that bitcoin will replace fiat.

What would Warren Buffet say? I reckon it looked like a scam for him hehehe.

But this pump had to have something that triggered it, do you think that without BTC futures people become so crazy about BTC? It is very easy to direct people in a certain direction, just need to sell them a good story. For most small investors the whole story did not end up positively, but big players make huge profits. I wonder if something similar can happen again, or people have learned a valuable lesson?

[bitgolden]

Well at least it did Now its over 6.3k, what are the predictions of this dude when its above it. Yeah we know

it should not be lower than it but what happens when its above it. I say not much would change, people from cme and contracts make a lot of money with it when its low, I doubt it can change for a while until longs are more bought than shorts.

As long as shorts are more than longs we will see whales trying to keep the price low and as long as we do not rally against them (which could be a bloodbath) it will always result in the same.

[bbc.reporter]

@Lucius. No, remembering it all, I reckon it was nothing but the biggest speculatory pump in bitcoin's history. Many newbies who wanted to get rich quick have entered the market and they kept on buying without an indication what bitcoin is. The mainstream news media and fund managers kept on hyping the price, and there is the bitcoin community who kept on pushing for the idea that bitcoin will replace fiat.

What would Warren Buffet say? I reckon it looked like a scam for him hehehe.

But this pump had to have something that triggered it, do you think that without BTC futures people become so crazy about BTC? It is very easy to direct people in a certain direction, just need to sell them a good story. For most small investors the whole story did not end up positively, but big players make huge profits. I wonder if something similar can happen again, or people have learned a valuable lesson?

Yes, without the bitcoin futures hype, I reckon the mainstream news media would always make up another storyboard and hype that and then get the same results that they want. What is behind the hype is not as important as the creation of the hype itself.

[pooya87]

@Lucius. No, remembering it all, I reckon it was nothing but the biggest speculatory pump in bitcoin's history. Many newbies who wanted to get rich quick have entered the market and they kept on buying without an indication what bitcoin is. The mainstream news media and fund managers kept on hyping the price, and there is the bitcoin community who kept on pushing for the idea that bitcoin will replace fiat.

What would Warren Buffet say? I reckon it looked like a scam for him hehehe.

But this pump had to have something that triggered it, do you think that without BTC futures people become so crazy about BTC? It is very easy to direct people in a certain direction, just need to sell them a good story. For most small investors the whole story did not end up positively, but big players make huge profits. I wonder if something similar can happen again, or people have learned a valuable lesson?

4-5% rise is barely a rise let alone be a "pump"! and such rises or falls of this small size don't need triggers really they fall under the normal price fluctuations of bitcoin. all you said could have been true if price had reached $8000 like last two time we tested the bottom.

there has never been bitcoin futures pre 2018 and people were crazy about bitcoin, sometimes more than others like the 5 or 6 huge bubbles that bitcoin had before the $20k bubble.

[reactorjuno]

It's very common to see +10% or -10% within 24 hours, would not rush to buy / rush to sell when this happens.

[pereira4]

We must lose all the pathetic newbies holding bitcoin. They must be annihilated. Please sell already, you don't deserve to own a single satoshi. Only individuals ready to get rich must own bitcoin, the rest must hold fiat and other liabilities. Once all the morons are off the ship then nobody will be willing to sell for these ridiculous prices. The elites are buying your cheap coins and you don't even know it. Sad!

[Wind_FURY]

We must lose all the pathetic newbies holding bitcoin. They must be annihilated. Please sell already, you don't deserve to own a single satoshi. Only individuals ready to get rich must own bitcoin, the rest must hold fiat and other liabilities. Once all the morons are off the ship then nobody will be willing to sell for these ridiculous prices. The elites are buying your cheap coins and you don't even know it. Sad!

Relax and let them sell and dump it down to $1,000 if they want to. Hahaha.

Buying at the most possible low it can reach was what everyone wanted, right? There it is. Now go look for a job, a second job, do anything to earn fiat, and be ready to buy the dip.

[Pursuer]

We must lose all the pathetic newbies holding bitcoin. They must be annihilated. Please sell already, you don't deserve to own a single satoshi. Only individuals ready to get rich must own bitcoin, the rest must hold fiat and other liabilities. Once all the morons are off the ship then nobody will be willing to sell for these ridiculous prices. The elites are buying your cheap coins and you don't even know it. Sad!

Relax and let them sell and dump it down to $1,000 if they want to. Hahaha.

Buying at the most possible low it can reach was what everyone wanted, right? There it is. Now go look for a job, a second job, do anything to earn fiat, and be ready to buy the dip.

that is good and all when you are just talking about it but in reality the problem with waiting for the dip to buy is that you will end up waiting forever. I am not saying the dip you are waiting for doesn't happen but I am saying that in any case you will never buy because either the dip you hope for (like $1000) never happens or when it happens you decide that it is not the bottom so you wait some more and end up never buying back.

[buwaytress]

He was always going to play a dangerous reputation game when he went in so soon, and then reupped his ante again when things didn't go his way. I've been preparing for a really long winter and yesterday's decline seems to suggest I could be preparing well. Things change mighty quickly of course, so am not giving myself any room for prophecy delusions. Not that anyone's view of experts would change, or that view changes result in any effect either.

that is good and all when you are just talking about it but in reality the problem with waiting for the dip to buy is that you will end up waiting forever. I am not saying the dip you are waiting for doesn't happen but I am saying that in any case you will never buy because either the dip you hope for (like $1000) never happens or when it happens you decide that it is not the bottom so you wait some more and end up never buying back.

Yeah, those buy the dip people are just as likely to lose out on sell the peak. Get what you can, when you can, if you're a holder. Limit orders the way to go if you're not. I'm more or less satisfied with getting whatever I can (and selling whenever I need to) the way this sideways period looks to extend.

[Wind_FURY]

We must lose all the pathetic newbies holding bitcoin. They must be annihilated. Please sell already, you don't deserve to own a single satoshi. Only individuals ready to get rich must own bitcoin, the rest must hold fiat and other liabilities. Once all the morons are off the ship then nobody will be willing to sell for these ridiculous prices. The elites are buying your cheap coins and you don't even know it. Sad!

Relax and let them sell and dump it down to $1,000 if they want to. Hahaha.

Buying at the most possible low it can reach was what everyone wanted, right? There it is. Now go look for a job, a second job, do anything to earn fiat, and be ready to buy the dip.

that is good and all when you are just talking about it but in reality the problem with waiting for the dip to buy is that you will end up waiting forever. I am not saying the dip you are waiting for doesn't happen but I am saying that in any case you will never buy because either the dip you hope for (like $1000) never happens or when it happens you decide that it is not the bottom so you wait some more and end up never buying back.

Practically speaking we might be in "that" dip. I also believe that any price below the $10,000 mark is always good to buy. But the lower the better because it will not be too bad to get a better deal from the market. Haha.

He was always going to play a dangerous reputation game when he went in so soon, and then reupped his ante again when things didn't go his way. I've been preparing for a really long winter and yesterday's decline seems to suggest I could be preparing well. Things change mighty quickly of course, so am not giving myself any room for prophecy delusions. Not that anyone's view of experts would change, or that view changes result in any effect either.

that is good and all when you are just talking about it but in reality the problem with waiting for the dip to buy is that you will end up waiting forever. I am not saying the dip you are waiting for doesn't happen but I am saying that in any case you will never buy because either the dip you hope for (like $1000) never happens or when it happens you decide that it is not the bottom so you wait some more and end up never buying back.

Yeah, those buy the dip people are just as likely to lose out on sell the peak. Get what you can, when you can, if you're a holder. Limit orders the way to go if you're not. I'm more or less satisfied with getting whatever I can (and selling whenever I need to) the way this sideways period looks to extend.

Who said I was selling before Hyperbitcoinization?