Has Bitcoin turned the corner?

[Hamphser]

Bitcoin clocked six-day highs above $9,000 over the weekend, but a long-term bull market revival may not be on the cards, yet. Having clocked a high of $9,070.64 on Saturday, prices again fell back below $8,000 briefly on Sunday before climbing again. CoinDesks's Bitcoin Price Index (BPI) was last seen at $8,772. The cryptocurrency has appreciated by 9.70 percent in the last 24 hours, as per data source CoinMarketCap. Bitcoin (BTC) is also close to 40 percent above last week's low of $5,947.40. So has the cryptocurrency bottomed out?

There's still a lot of leg room for bitcoin and push the price to I doubt that bitcoin and crypto bottomed out already. Only factor that I likely attributed everything is the government stance against crypto. This makes investors skeptic and reluctant to pour in their cash. But sooner or later, they are going to the market because they can't resist the money they can made out of it.

2018 is still young, there's a lot of things that can happen to the price. We may have seen the price somewhat stuck between $8-$9K, but I'm sure it has more room for growth before the end of the year.

Most speculators thought was not like this, they had directly thought of $30k, $40k, $50k within this year and so on. What they were looking in the future was the price itself of Bitcoin and not really noticing the day by day changes of fluctuation made in the market. Governments are not really posing any threat to cryptos but warning people to stay away because it is not controlled by the government and that thought could lead to a loss because most of the people are not knowledgeable enough on how crypto's working.

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[magneto]

Bitcoin clocked six-day highs above $9,000 over the weekend, but a long-term bull market revival may not be on the cards, yet. Having clocked a high of $9,070.64 on Saturday, prices again fell back below $8,000 briefly on Sunday before climbing again. CoinDesks's Bitcoin Price Index (BPI) was last seen at $8,772. The cryptocurrency has appreciated by 9.70 percent in the last 24 hours, as per data source CoinMarketCap. Bitcoin (BTC) is also close to 40 percent above last week's low of $5,947.40. So has the cryptocurrency bottomed out?

For this month, yeah, bitcoin has already bottomed out.

For the medium term as in a year or so's time, I think that the market variance will naturally take bitcoin to lower lows. Could be even less than $4-5k. All of this depends on future scenarios that we currently cannot safely predict.

Short term, we're going to go above $9k-10k. We're probably going to hang around there, before entering a full on crypto winter where price goes down to around the current level, perhaps a bit less, and stabilise. Then when markets are ready again, and near another halving, bitcoin will get revived and sensationalist news articles come out, and it gets hyped up again.

[plastcom]

Don't worry because everything can happen in crypto's world. So cryptos will return to the previous situation. Someone sold a lot of BTC in few days ago according to that the price downed so much. In my opinion everything will be the same as before. You will hodl your cryptos and you will get more because in this moment prices are more affordable.

This account, Xardasim is stolen !! You are a thief - please, give back !!

The information has been forwarded to cyrus - bitcointalk admin.

[nightfury]

It's very noticeable how bitcoin has regaining its strength and power as its market cap and price is pushing up again. This is a pure statment that Bitcoin can really turn all the corners when everything in the cryptoworld seems so hopeless. IMO, most of the panic sellers during the time when bitcoin was down probably regret their decision of selling their crypto assets before.

[alyssa85]

It's very noticeable how bitcoin has regaining its strength and power as its market cap and price is pushing up again.

It's because CFTC chairman J. Christopher Giancarlo was testifying again, this time about regulation:

https://www.coindesk.com/cftc-chair-us-tread-carefully-crypto-exchange-rules/

He basically argued that the federal govt should "tread lightly" and focus only on the bad guys who are doing wrong while letting crypto in general develop.

[lelahkenabanned]

Bitcoin clocked six-day highs above $9,000 over the weekend, but a long-term bull market revival may not be on the cards, yet. Having clocked a high of $9,070.64 on Saturday, prices again fell back below $8,000 briefly on Sunday before climbing again. CoinDesks's Bitcoin Price Index (BPI) was last seen at $8,772. The cryptocurrency has appreciated by 9.70 percent in the last 24 hours, as per data source CoinMarketCap. Bitcoin (BTC) is also close to 40 percent above last week's low of $5,947.40. So has the cryptocurrency bottomed out?

just calm down, bitcoin will never fade or go bitcoin will continue to rise and become a very expensive coin because basically bitcoin has a very high demand.

[stellgod]

Bitcoin clocked six-day highs above $9,000 over the weekend, but a long-term bull market revival may not be on the cards, yet. Having clocked a high of $9,070.64 on Saturday, prices again fell back below $8,000 briefly on Sunday before climbing again. CoinDesks's Bitcoin Price Index (BPI) was last seen at $8,772. The cryptocurrency has appreciated by 9.70 percent in the last 24 hours, as per data source CoinMarketCap. Bitcoin (BTC) is also close to 40 percent above last week's low of $5,947.40. So has the cryptocurrency bottomed out?

So far, I want to believe we have gotten to the bottom, bounced from it and waiting for a rally. With the good news and some adoptions from all over the world, as well as the level at which development would start occurring on bitcoin's protocol, I believe that we are in for a nice ride in this 2018 and only those who are confident enough to hold, then they will always reap the fruit of their patience.

[carodupuis]

No off course not.
You should be aware of the good news that's flowing in from everywhere .. the Korean and Indian and Australian market could see a tremendous growth over the coming weeks.

Making it easy for Bitcoins holders to land in profit.
The highs and lows might break you down at a moment but remember this "Patience wins, always"

Yeah! Patience always wins. I am sure now that the whales have tampered with the market, used news to drive it down, and have decided to buy back in which to me that is obvious, they should start looking for a way to get the market back up for another trend of profit. I also expect a huge growth in bitcoin, but of course, I really want the solo one, so we can have much time to load up even more before the train starts moving.

[micleeiu398]

You have to wait at least for a few weeks, so you can make a realistic forecast. So far btc is not stable enough to say if it has reached the bottom.
I think in a few weeks btc will have stabilized again. Then the price is likely to increase continuously. At the moment the whole market is unstable and can lose a few percent overnight.
I hope, however, that the market has stabilized again in one or two months at the latest. 

Right, we have also still in a downtrend and until we break out of it before we can even be certain of anything. However, there is huge hope, we have been seeing good volume, the market is giving several signals, and I want to believe that the market should consolidate for a while before we can start seeing anything. There is still fear though in the market, but it is just some little news that can easily change that and so far it seems like the news are getting positive.

[gamalzour]

I'd regard the activity in late 2017 as a bubble.  If you treat it that way, the graphs look quite similar to both Bitcoin's 2013 bubble and the dotcom bubble.  here is an article regarding these earlier bubbles.

If we are now transitioning into a bear market, then we can expect this fall to continue for at least another few months and most likely for over a year.

A lot of sentiment on here and Reddit is still bullish - this seems common as a bear market begins, but gradually diminishes as it progresses.

Ok! May be time will tell us where we are actually headed but there is really no need being negative. If the chance comes for us to see the market test lower, then we will buy more at a lower value. If the bears are not done with the market, that is their cup of tea, but one thing we are so sure of is that the bears cannot continue forever and the downtrend will pass. For now, we just have to wait it out and see where the market heads up next, but no need being negative.

[wuvdoll]

Bitcoin clocked six-day highs above $9,000 over the weekend, but a long-term bull market revival may not be on the cards, yet. Having clocked a high of $9,070.64 on Saturday, prices again fell back below $8,000 briefly on Sunday before climbing again. CoinDesks's Bitcoin Price Index (BPI) was last seen at $8,772. The cryptocurrency has appreciated by 9.70 percent in the last 24 hours, as per data source CoinMarketCap. Bitcoin (BTC) is also close to 40 percent above last week's low of $5,947.40. So has the cryptocurrency bottomed out?

So far, I want to believe we have gotten to the bottom, bounced from it and waiting for a rally. With the good news and some adoptions from all over the world, as well as the level at which development would start occurring on bitcoin's protocol, I believe that we are in for a nice ride in this 2018 and only those who are confident enough to hold, then they will always reap the fruit of their patience.

Not having the ability to think long term is obviously as a result of their ignorance of the stage bitcoin can get to or simply just do not know the importance and benefit bitcoin is going to be bringing which will make it a household currency all over the world. People who know this already know and nothing can change that, which is what differentiates the true believer from someone who just wants to get rich, as the former see the bigger picture than the latter.

[Sengoko]

No off course not.
You should be aware of the good news that's flowing in from everywhere .. the Korean and Indian and Australian market could see a tremendous growth over the coming weeks.

Making it easy for Bitcoins holders to land in profit.
The highs and lows might break you down at a moment but remember this "Patience wins, always"

Yes.Once again  pleasant season coming soon.Even the SEC's ruling in favour of cryptos have added  much power to this development.

Yeah, we always have those seasons after the unpleasant ones and it is normal. I am sure we are done with the bear season a little bit and what we have now is seeing the market go back to test some previous support to find a strong foot and after that, I want to believe we will start one of the year's journey which I want to believe this year would even bring pleasant surprises for all the holders based on all the news going on.

[jostorres]

Bitcoin clocked six-day highs above $9,000 over the weekend, but a long-term bull market revival may not be on the cards, yet. Having clocked a high of $9,070.64 on Saturday, prices again fell back below $8,000 briefly on Sunday before climbing again. CoinDesks's Bitcoin Price Index (BPI) was last seen at $8,772. The cryptocurrency has appreciated by 9.70 percent in the last 24 hours, as per data source CoinMarketCap. Bitcoin (BTC) is also close to 40 percent above last week's low of $5,947.40. So has the cryptocurrency bottomed out?

For this month, yeah, bitcoin has already bottomed out.

For the medium term as in a year or so's time, I think that the market variance will naturally take bitcoin to lower lows. Could be even less than $4-5k. All of this depends on future scenarios that we currently cannot safely predict.

Short term, we're going to go above $9k-10k. We're probably going to hang around there, before entering a full on crypto winter where price goes down to around the current level, perhaps a bit less, and stabilise. Then when markets are ready again, and near another halving, bitcoin will get revived and sensationalist news articles come out, and it gets hyped up again.

Obviously and I 100% agree with that. We have seen bottom already, the tides are changing, the atmosphere is getting even more positive by the day and it totally look like we are in for the start of a new year of greater opportunities for bitcoin.

I am very hopeful that we should have some smiles on our faces soon, not like there has not been any though, but at least, we hope to have the market back stronger and giving some more good feelings in the air.

[robotrobert]

Bitcoin clocked six-day highs above $9,000 over the weekend, but a long-term bull market revival may not be on the cards, yet. Having clocked a high of $9,070.64 on Saturday, prices again fell back below $8,000 briefly on Sunday before climbing again. CoinDesks's Bitcoin Price Index (BPI) was last seen at $8,772. The cryptocurrency has appreciated by 9.70 percent in the last 24 hours, as per data source CoinMarketCap. Bitcoin (BTC) is also close to 40 percent above last week's low of $5,947.40. So has the cryptocurrency bottomed out?

just calm down, bitcoin will never fade or go bitcoin will continue to rise and become a very expensive coin because basically bitcoin has a very high demand.

We are even yet to see any high demand, all we have now are the believers and some set of people who want to get rich rolling in. Let's wait until the real use cases of bitcoin starts and then we start seeing how things will end up turning out. So far, there is a great hope in the atmosphere and the optimism that bitcoin is turning out great, so this is more a time or value we may or can never see again.

[Daimon88]

I'd regard the activity in late 2017 as a bubble.  If you treat it that way, the graphs look quite similar to both Bitcoin's 2013 bubble and the dotcom bubble.  here is an article regarding these earlier bubbles.

If we are now transitioning into a bear market, then we can expect this fall to continue for at least another few months and most likely for over a year.

A lot of sentiment on here and Reddit is still bullish - this seems common as a bear market begins, but gradually diminishes as it progresses.

Ok! May be time will tell us where we are actually headed but there is really no need being negative. If the chance comes for us to see the market test lower, then we will buy more at a lower value. If the bears are not done with the market, that is their cup of tea, but one thing we are so sure of is that the bears cannot continue forever and the downtrend will pass. For now, we just have to wait it out and see where the market heads up next, but no need being negative.

Yeah, some have while some are just busy absorbing the only thing they want to believe. The adoption of bitcoin is still very low and we are here, then I imagine when bitcoin hits the mainstream and adoption becomes top notch, what would happen by then? A lot of people cannot see that now and that is what always differentiates the rich ones now, the rich ones tomorrow and those who are just bent on sticking to their poverty life and that is the ability to see the clearer and bigger picture and not let the opportunity miss them.

[Casabrandy]

Bitcoin clocked six-day highs above $9,000 over the weekend, but a long-term bull market revival may not be on the cards, yet. Having clocked a high of $9,070.64 on Saturday, prices again fell back below $8,000 briefly on Sunday before climbing again. CoinDesks's Bitcoin Price Index (BPI) was last seen at $8,772. The cryptocurrency has appreciated by 9.70 percent in the last 24 hours, as per data source CoinMarketCap. Bitcoin (BTC) is also close to 40 percent above last week's low of $5,947.40. So has the cryptocurrency bottomed out?

just calm down, bitcoin will never fade or go bitcoin will continue to rise and become a very expensive coin because basically bitcoin has a very high demand.

We are even yet to see any high demand, all we have now are the believers and some set of people who want to get rich rolling in. Let's wait until the real use cases of bitcoin starts and then we start seeing how things will end up turning out. So far, there is a great hope in the atmosphere and the optimism that bitcoin is turning out great, so this is more a time or value we may or can never see again.

Bitcoin will still govern, we should not put panic on whenever btc happening, it just need some break for corrections, it will be fine by the next quarter we just need to believe and hold into it.

[jayhawk1]

It's very noticeable how bitcoin has regaining its strength and power as its market cap and price is pushing up again.

It's because CFTC chairman J. Christopher Giancarlo was testifying again, this time about regulation:

https://www.coindesk.com/cftc-chair-us-tread-carefully-crypto-exchange-rules/

He basically argued that the federal govt should "tread lightly" and focus only on the bad guys who are doing wrong while letting crypto in general develop.

And there we start! The news is changing to positive gradually and that is how I really get to know if the market is ready anyway. I have noticed all those patterns coming up once the bears have totally run out of power and then looking for the market to start gaining some confidence back when they have bought back low. However, it is good that developments like these are coming up and that shows greater hope ahead for bitcoin and the cryptocurrency community at large.

[Naficopa]

The fact that the price does not grow at a fast pace does not mean that bitcoin is in the corner. Bitcoin has a weak start to the year but that does not mean it will not be rebounded soon. Good news can help in the growth.

[amaydel]

I think bitcoin already did turned the corner as it reach 11,000$ after it plunges its market price down to 6,000$. If this will continue until the end of this month, i believe better things is going to happen early for bitcoin before the end of this year.