Has Bitcoin turned the corner?

[ayurvedicurea]

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?

[fiulpro]

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"

[marjil]

Don't think so. It's a very narrow trading range between $6k and $9k for several days now.

[walterw]

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. 

[3kpk3]

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"

I agree with you here. Patience is indeed the key to huge profits in the long run which is why I am HODLING my bitcoins and all my other altcoins for the long term at the moment. Coming to the question posted by op, bitcoin will continue appreciating and might reach $14k by the start of next month due to the good news flowing in from all directions as you said. More good news is on the way.

After the conclusion of the Chinese New Year later this week, bitcoin will continue surging in value which will push it and the rest of the crypto market upwards. Stay patient and HODL all your coins everyone.

[Xavofat]

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.

[CryptoJoshua]

Don't think so. I believe a lot of this has to do with the news channels that are spreading fake news. For example, a few days ago, people were scared because India "Banned" cryptocurrency. Fake news such as this introduces FUD into the market causing many investors to sell their Bitcoin, reducing demand, reducing prices. And also since the prices aren't increasing, potential investors are not interested because they believe cryptocurrencies have reached its end. 

[glennmatthew]

Don't think so. I believe a lot of this has to do with the news channels that are spreading fake news. For example, a few days ago, people were scared because India "Banned" cryptocurrency. Fake news such as this introduces FUD into the market causing many investors to sell their Bitcoin, reducing demand, reducing prices. And also since the prices aren't increasing, potential investors are not interested because they believe cryptocurrencies have reached its end. 

Nothing to worry about bro. You can't have too many millionaires in the world

Do what you believe is right, time will show the victors. Don't give up

[Jet Cash]

The chartists seem to think that the price will slip over the next few weeks, and then start to climb at the end of March.

[alyssa85]

It will have only turned the corner if it manages to break through $9000 and stay there.

At the moment it keeps making attempts that don't hold. The only good news is that we're still in the upwards channel that started this time last year. Beyond that, we're still struggling.

[fabiorem]

Do like I did, OP. Leave 5% of your stash as a offering to appease KARHU, the bear of the polar axis.

No matter at what price level you sold, it will be the bottom in a near future.

[Speedie]

It will have only turned the corner if it manages to break through $9000 and stay there.

At the moment it keeps making attempts that don't hold. The only good news is that we're still in the upwards channel that started this time last year. Beyond that, we're still struggling.

Take a look at 4 hour chart. That $9,000 - $9,200 area looks suspiciously like the neckline of an inverse head and shoulders pattern. If it breaks (up) with decent volume, that would give an implied target of $12,400 in the next 2-3 weeks.

[imapessimist]

No I don't think Bitcoin has turned a corner.  If you look at the chart for the month it is declining on the whole.  This new rally is really a very feeble one in my opinion.  Maybe it will struggle up to 10k but will fall again in a few days.  Not sure if it will crash down to 6k but we could see 7k again in the next few days.  I think that's more likely than any kind of spectacular rise to the moon.   

[BitHodler]

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.

Reddit and this forum are full of trolls and blind gamblers, which can't be really be used as a metric. If we look at how the market has performed in the last months, it did exactly that what people didn't expect.

All the chart analysis wannabes and other self claimed experts have been wrong on so many levels, that they lost their credibility. There is really nothing of value to say by anyone here as always ~ the guessing game continues.

The only useful and productive activity in a market like we are in right now, is to keep accumulating below the $10,000 mark. If the price falls back down, you'll be able to buy more coin for the same amount of money.

[Xardasim]

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.

[followmenot]

Possibly but very unlikely. I think price should go back over $10000 and stay there for like a month to safely say "bear market is over". We are just seeing regular gambling right by short term traders. Bears are here.

[khaled0111]

I think Bitcoin turned the corner and every thing is OK since its price was standing between 7500 and 8500 during the last week despite all rumors about its death.
We are waiting for the Chinese new year celebrations to end and see what will happen.
I think we will never see the 6k $ price again.

[YuginKadoya]

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. 

Many are not use to this kind of stability over the price of bitcoin but it can really happen and I really think that we are not yet ready for another bull run and maybe this kind of stability is a manipulation by whales too, There is a lot of possibilities that we can connect why we are having this kind of resistance, And even thought we are seeing the value is smoldering down any time again, I really think we are not seeing a proper recovery on the value of bitcoin it can attain, 

[Slash61]

What are you talking about with the crypto being torn down? I'm not sure about that, check out the good news in the developed world. You should know that bitcoin is ending its bad times. Should you defeat the bushes, do not worry too much do not worry too much about this. I think if many investors panic then the price will actually go down. Keep waiting patiently for profit in the future.

[btc_angela]

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.