From $7.5 to $8.4 (March 19)

[peter0425]

What's your take on the recent bounce of bitcoin price, just hours ago I saw the price as low as $7500 per coinmarketcap and then a surge of doomsayers thread saying that bitcoin can go as low as $2500. Lol.

Now the price is completely reverse itself, care to share your thoughts specially those who are calling that the price will go down? I really love to hear your thoughts on the current reversal.

1. Another bulltrap?
2. Dead cat bounce?
3. $7500 is the bottom and its seems that investors can't deny the fact that is quite cheap already that why they need to get it at this price?

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[pooya87]

that is a 12% increase which is not that big in my opinion in percentage-terms and considering this is bitcoin we are talking about. so my guess is that this is simply a recovery after a big dump. it doesn't have to mean much and considering bitcoin has been pretty wild and weird lately, i don't think we can predict what will happen next.

1. there is a good chance this is true since things are mostly bear-like these days
2. only true if you think bitcoin is dead!!!
3. i don't think so. the volume doesn't seem to be that high. it was higher because it was a sizable rise but under any other circumstances such rise would have gotten a bigger volume.

[pey]

I am sure that it will crash again to $6000, it is not going to $10k for sure  but $2500 is just a speculation to scare weak hands, there is a huge buy wall in $6K

[bitbunnny]

To my opinion this only shows how quickly the price can change and in both ways. So actualy you have to be ready for any scenario and ready to adapt to the changes on the market.
In such situations it's hard to predict which way the price will go next but it's important not to make some sudden moves without taking the situation in whole because you might regret it.

[rizkyhiw]

I am sure that it will crash again to $6000, it is not going to $10k for sure  but $2500 is just a speculation to scare weak hands, there is a huge buy wall in $6K

I'm not sure it will crash to the $ 6000 IMO bitcoin number will soon rise again to the $ 10,000- $ 11,000 mark in april later. If true it happens our hope towards the moon in this year is very clearly visible will happen. Even in June, I believe the price will touch the $ 20,000 mark. You are right that a statement about bitcoin prices will touch the $ 2,500 price is just a hoax or just wishful thinking.

[davis196]

What's your take on the recent bounce of bitcoin price, just hours ago I saw the price as low as $7500 per coinmarketcap and then a surge of doomsayers thread saying that bitcoin can go as low as $2500. Lol.

Now the price is completely reverse itself, care to share your thoughts specially those who are calling that the price will go down? I really love to hear your thoughts on the current reversal.

1. Another bulltrap?
2. Dead cat bounce?
3. $7500 is the bottom and its seems that investors can't deny the fact that is quite cheap already that why they need to get it at this price?

I read so much bad news about Twitter going to follow Google and Facebook with their crypto advertising ban.
Despite all the bad news,the bitcoin price recovers with 12%.This is weird,but it proves that bitcoin is strong enough to survive all the FUD and any other attacks.I think that there is a big group of crypto investors and whales ,who started buying at 7500 USD.They expect a bullish trend on April.We should be prepared for it.

[bambazamba]

I don't know whats going on with the market . It is almost too stressful to handle the trends right now . Many people are talking about bitcoin coming as low as $2000 very soon but I really don't want to believe on them . Bitcoin is showing some highly unpredictable move this time , its going down when its not expected and going up when its not imagined . For eg . after such a huge sel off and ad bans bitcoin is till showing some positive graph in its price . It is just a mad race with the odds right now.

[Ararbermas]

For me i think 7k is the bottom 'cause the fluctuation of price can't break that value since the price start decreasing on this month and its been 3 attempts right now and it cant go below 7k , that's why I'm still believing that there's a strong support on that value . And maybe the #3 option above is correct. But i have doubts also which is maybe all of the big holders nowadays preferred to make short term that's why the price always drop back after 8k value.

[1Referee]

The only thing that makes sense to me, is the fact that we have been going down for such a long period of time, that at some point the market will get bought up again. The last months have almost been like a reverse bull run, where in case of a normal bull run the price tanks hard afterwards, but in current reverse bull run market the price will go up hard. I sold just under $9000 and bought back just under $8000 because it's not worth waiting any longer. The slight change in mentality triggered me to enter the market again, and we'll see where it goes from here. I could have bought lower, but I waited a bit too long, but hey, a profit is still a profit.

[grimesrhymes]

The next few days will be telling. If the price can move towards 10k and above then we could be entering a recovery with a new bottom found which was higher than the previous 6k. If the price can't break 9k then I expect a dip to 6k or lower inside the next 2 weeks. If the price remains stable above 8k then that would signal a bull run is likely to come in the future.

[BrewMaster]

i believe this rise even though it is small, is because of the G20 thing and the fact that everything went well over there. but i wouldn't get excited about it unless it leads to a bigger rise. otherwise this is just a small recovery and we still need a bigger one to get back on track.

[entrepmind23]

I saw some technical analysis of it wherein it would bounce in that area and it is spot on so for those people who are saying that TA is not effective in crypto, they are not entirely right because it gives you perspective on when to take profit and when is the right time to buy. Maybe another FUD would be circulated or good news. It would depend on the whales then if they decide to let the price go up or accumulate more by bringing it down. It is an undeniable fact that whales are the market makers so we just have to accept it and just see what their next plans are but their decision sometimes coincide with the TA though. If you plan on buying or taking profit then just follow your TA.

[TravelMug]

i believe this rise even though it is small, is because of the G20 thing and the fact that everything went well over there. but i wouldn't get excited about it unless it leads to a bigger rise. otherwise this is just a small recovery and we still need a bigger one to get back on track.

Definitely, the recovery that we have witnessing this past 2 days has something to do with the G20 thing. It looks that it has influence the market to certain extent and that investors confidence are slowly getting back into the ecosystem. At least every small steps could lead something big in the future.

Let us see if we can sustain this tiny momentum we  got and maybe got back at the 5 digits at the end of the month. Crossing my fingers.

[jtipt]

Too soon to say anything about a bull run/trap. It could just be usual market movements and some people deciding to buy the dip.

i believe this rise even though it is small, is because of the G20 thing and the fact that everything went well over there. but i wouldn't get excited about it unless it leads to a bigger rise. otherwise this is just a small recovery and we still need a bigger one to get back on track.

Yeah G20 might be one more reason for this rise, but let's hope this turns out something bigger. I'm tired to see BTC below 10k.

[magneto]

What's your take on the recent bounce of bitcoin price, just hours ago I saw the price as low as $7500 per coinmarketcap and then a surge of doomsayers thread saying that bitcoin can go as low as $2500. Lol.

Now the price is completely reverse itself, care to share your thoughts specially those who are calling that the price will go down? I really love to hear your thoughts on the current reversal.

1. Another bulltrap?
2. Dead cat bounce?
3. $7500 is the bottom and its seems that investors can't deny the fact that is quite cheap already that why they need to get it at this price?

There is a ton of people who are buying at $6-8k which means that any time prices drop below $8k, people are going to swarm all over it like bees over a pile of honey. This is what's happening right now to bitcoin.

It's actually not a very dramatic recovery since it's actually only been a 2-3% change overnight right now. But the percentage was higher earlier in the day.

Is it a bull trap? I don't think so, at least. I think that it's most likely a healthy start to a recovery that bitcoin was going to go on sooner or later. It's not a dead cat's bounce, because we've actually went lower earlier this year with $6k, and we're not even touching that figure this time.

[grimesrhymes]

Too soon to say anything about a bull run/trap. It could just be usual market movements and some people deciding to buy the dip.

i believe this rise even though it is small, is because of the G20 thing and the fact that everything went well over there. but i wouldn't get excited about it unless it leads to a bigger rise. otherwise this is just a small recovery and we still need a bigger one to get back on track.

Yeah G20 might be one more reason for this rise, but let's hope this turns out something bigger. I'm tired to see BTC below 10k.

It seems that the potential for bad news from the G20 was always looming over the price and probably kept the decline going for longer than it otherwise would have. There's unlikely to be a big rise, even churning out 3% growth per day is really great progress at this stage, a lot of people will be so scared to get in to bitcoin at this time and it needs a long period without a large fall more so than it needs a big increase.

[omonuyak]

If bitcoin have break  $7,500 it could have stop at $4,000 but we thanks the bull that force the price back to $8,800 as at this momoment. Bitcoin may not get bearish again this month because we are having some positive news coming out this days and the g20 resolution about cryptocurrencies is a plus to bitcoin.

[pey]

Not dead cat bounce I am sure about it, deat cat bounce happened when everything doubled after the crash. It might be bull trap but I don't think we need to clasify current market situation. 

[timerland]

What's your take on the recent bounce of bitcoin price, just hours ago I saw the price as low as $7500 per coinmarketcap and then a surge of doomsayers thread saying that bitcoin can go as low as $2500. Lol.

Now the price is completely reverse itself, care to share your thoughts specially those who are calling that the price will go down? I really love to hear your thoughts on the current reversal.

1. Another bulltrap?
2. Dead cat bounce?
3. $7500 is the bottom and its seems that investors can't deny the fact that is quite cheap already that why they need to get it at this price?

It's only a 20% rise so far which is still a lot less than the percentage that got dumped in the pullback. So I think it's way too early to say that it's a bulltrap or a dead cat bounce. And looking forward I think we will see some adjustments in price.  The value of BTC will not climb every single day but with breaks in between, but the general trend will be going up until at least $12k.

I do think that $7500 is going to be the bottom of this dump, after all, we've already recovered enough to safely say that we're seeing a trend reversal already.

This recovery from $7.5k to $8.8k now is mainly because of a)lack of continued negative news coverage on BTC and b)just people buying the dip, as they have learned their lessons from previous times. Cheap coins do not last long.

[KwizatzHaderach]

What's your take on the recent bounce of bitcoin price, just hours ago I saw the price as low as $7500 per coinmarketcap and then a surge of doomsayers thread saying that bitcoin can go as low as $2500. Lol.

Now the price is completely reverse itself, care to share your thoughts specially those who are calling that the price will go down? I really love to hear your thoughts on the current reversal.

1. Another bulltrap?
2. Dead cat bounce?
3. $7500 is the bottom and its seems that investors can't deny the fact that is quite cheap already that why they need to get it at this price?

Good indicator to watch is if there is uptick in the volumes. If there is none, seems a bull trap for now. There is no end to the uncertainties being faced y cryptos as more governments are being wary of the implications of uncontrollable money supply which can wreck havoc to economies.

[hamade]

maybe  it will crash again to $6000, i think it is not going to $10000
but $2500  is just a speculation to scare weak hands, there is a huge buy wall in $6K