Moon now?

[Vaflia]

Today, bitcoin has grown sharply due to positive news in Asia. Do you think this is the beginning of a bullish trend or a dead cat bounce?

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[diouf67]

Neither. The price will recover soon to back towards 12k but we aren't going to go on a massive run back towards 20k anytime soon and it's also not a dead cat bounce because bitcoin is not dead.

[Itjoker]

Actually I think this is not the point of bounce. Because the signals of trend reversal are absent . But personally it seems like reversal would be at 7K$.

[Sazakan]

Neither. The price will recover soon to back towards 12k but we aren't going to go on a massive run back towards 20k anytime soon and it's also not a dead cat bounce because bitcoin is not dead.

Yeah, that seems like the most likely outcome to me.

As i said before, BC won't go down in flames but as the currency matures, it also won't go uo again in such a wild rush as before. Many burnt fingers right now.

[batang_bitcoin]

Today, bitcoin has grown sharply due to positive news in Asia. Do you think this is the beginning of a bullish trend or a dead cat bounce?

What's the positive news in Asia? This can be a bounce back but don't be too confident that we are going on bullish. It's better to assume the possibilities rather than being confident on what can be the trend of not being prepared.

[Tyrantt]

Who knows, but tbh I'm not expecting anything big to happen before may. Not just because of the new fiscal year and whatnot, it's just some feeling in the gut. Tho I can say I'm liking the stable price for once.

[richardsNY]

No moon, why can't people just accept that for once? Nothing has really changed justifying people to get optimistic. As easily as the price bounces up, it fals down again, and that has been the case for weeks now, and there is no reason to think that it will be different this time. People for once need to look at wider time frame charts, because that's showing more reality of the current state of the market. If you just focus on very short term charts, you'll see a different market, and are more inclined to think positively or negatively based on how much of an impact even smaller movements may have on that chart.

[aardvark15]

Today, bitcoin has grown sharply due to positive news in Asia. Do you think this is the beginning of a bullish trend or a dead cat bounce?

Any negative news could still send the price down but I do thing a gradual recovery will happen soon. There will always be fluctuations in price based on supply and demand but I think after the MtGox sell off is done, the gradual increase will begin. I think many altcoins will also start to see a recovery in the coming months as well. I think by the end of the year we’ll begin to see new highs.

[tomahawk9]

Moon? Very unlikely. I don't expect any major movements, at least not in the next few weeks. Before the recent downtrend we were in some kind of 'consolidation/recovery' phase where the price was stable for a quite some time, and now, even with all the positive news we've seen lately (though I'm not sure which positive news came from Asia today) we're back to the usual up and downs, to me this just means that unless we see some big and important news that can help push the price up fast so that the bull trend can finally start, we'll be in same slow and steady increase phase for a very long time.

[TERA2]

[lablab03]

Today, bitcoin has grown sharply due to positive news in Asia. Do you think this is the beginning of a bullish trend or a dead cat bounce?

in my view maybe not now, 'cause the price of bitcoin is not yet stable and has not enough strength to bullish on this day. Perhaps it takes a weeks again before it continue to climb gradually 'cause as wee see the price is always fluctuate in  9k value. 

[JoinKazr]

Maybe Bitcoin will reversal back to 7K5$.

[Nahl]

indeed not only bitcoin today all market was back to green again but please include the link which is positive news in asia because i'm curious what kind of news which make bitcoin and major cryptocurrencies rise up again but i'm highly doubted bitcoin will be to the moon now but i expect before end of this month the price will be at $12k or if possible more than that

[mrcash02]

The answer will always be maybe so, maybe not and the advice will always be keep holding...

At this time the chances are really good for BTC reach a new level, I believe it would be really improbable to have a third correction in sequence leading us back to $8000-$9000 houses again. However, reaching a new level doesn't mean we are going to the moon, what I also think it's improbable at this time.

[Fuhre]

OMG! I am happy to hear this, it seems this news will bring the atmosphere to be more calm.
IMO travel bitcoin price to the figure $ 12k already in start, we just need to wait and be patient.
I am sure that bitcoin will reach the price in the $ 20k figure, but not in the near future. the price estimate reaches that number will happen in june / juli. Current situation Far cry from yesterday.

[pooya87]

Today, bitcoin has grown sharply

a "sharp growth" just like a "sharp drop" is when price rises/falls big time and more importantly when it goes above or below certain price levels. for example in this case it is a sharp growth only if it passes $12k not going back to $9.5k which was the bottom!

due to positive news in Asia.

searching bitcoin news (https://www.google.com/search?q=bitcoin&tbm=nws) doesn't show any positive news these days. the media is filled with FUD and attacks against bitcoin more than any other time, and that is all because of the drop!

Do you think this is the beginning of a bullish trend

it is only if price breaks $12k and remains above it. otherwise price will remain between $9k and $12k.
the same is true about a bear market, unless it breaks below $9k and stays there it is not bearish.

or a dead cat bounce?

a dead cat bounce, is when price IS going down then it recovers a little before falling more. bitcoin price went down, it is not going down. there is a difference between just a fall because price is moving sideways and an ongoing drop where price goes lower and lower.

[Loveboard]

I think it is about to moon, yes..

Because of FOMO. I can see this hitting 11k in 24 hours.

Why? Because btc jumped from 8.5k to 9.7k in only one day. And it was Sunday.

The western traders did not yet trade,.. tomorrow the will start trading again, so that's when there will be FOMO

[arpon11]

The market has been in bearish trend since December when bad news and rumors come out of South Korea and China and only good news is going to bring the market out of it current state . I am happy in hearing that good news have stated coming in from China and Asia region and I think this is going to affect the market positively.

[Pursuer]

I think it is about to moon, yes..

Because of FOMO. I can see this hitting 11k in 24 hours.

Why? Because btc jumped from 8.5k to 9.7k in only one day. And it was Sunday.

The western traders did not yet trade,.. tomorrow the will start trading again, so that's when there will be FOMO

again, $11k is not the "moon" and it is not a hard target to be reached.
the thing about round numbers being big resistances ($10k in this case) has not applied for this particular price for a very long time now. it actually started the first time price dropped below $10k and went as low as $5900.

FOMO and moon will happen when price breaks $12000 and it heads up towards $20k again. that is when the real Fear of Milling Out starts and price shoots up because of it.

[TravelMug]

Today, bitcoin has grown sharply due to positive news in Asia. Do you think this is the beginning of a bullish trend or a dead cat bounce?

Sorry but this bounce was to be expected because we have finally uncover as to who is the culprit of this wild price swing since December (Mt. Gox trustee). But I don't see any mooning anytime soon.

Its no longer December, there are no irrational buyers coming from Asia, and the prediction that China will go back to bitcoin after the Chinese New Year? it didn't happened as well.

So stop and don't put too much expectations so that you won't be disappointed at the end.