Bitcoin back to 8k$!! Is this recovery or a trap?

[Xester]

Well Yesterday I said in one of my comments that the bullish move of bitcoin from 6700$ to 8000$ in just a few minutes is shocking and thus we must be careful since it could be temporary and could be a trap. But until today there is no sign yet of bitcoins value going down and it still continued to increase at is already at 8k+$.

But I just noticed something, the more the price of bitcoin gets higher the more volume of btc goes in the exchanges especially in bitfinex from 74k bitcoin it climbed up to 96k bitcoin. This is a sign that more and more people are getting into bitcoin and the question is can we be confident already that this bullish move will continue or it is just a trap?

[1715103844]

1715103844

[1715103844]

1715103844

[1715103844]

1715103844

[1715103844]

1715103844

[1715103844]

1715103844

[CryptoBry]

Personally, I am hoping that Bitcoin is already on its way into good recovery since we are now in the 2nd Quarter of 2018 and Bitcoin hodlers are already getting tired waiting for the silver lining to come into their weary hearts and minds. Frankly speaking, nobody can truly predict if this is already the recovery we are waiting for or just another bad trap. I am just hoping that profit-taking will not be voluminous this time that can possibly push the value down again.

[wantjokull]

Its just been 24 hours mate and I don think trusting that this is not bull trap would be bad. This is crypto and we are already seeing the alarming effects of this world and how it moves up and down in shortest possible period!

If thats the case then how can we be sure just with 24 hours data! Lets watch it over one week or more, may be it will again come down and might just start spiking again and this cycle will keep repeating until we see some stability in it.

Just the uncertain world which we shouldn't be ignoring every detail of it. Thoughts welcome over this one.  

[fourpiece]

I thought after the bullish run that happened yesterday bitcoin will go down again ,but I was wrong bitcoin rises higher. I think we're heading at 10,000 again.

[Swenna]

As of the moment, let us just rejoice at the fact that the price of bitcoin has somewhat recovered. Although, I have been monitoring and watching the movement of the coins in the market and saw that there are slight down prices from time to time. And knowing that thr prices of coins are volatile, we can never be sure if this is continuous or just a trap. Let's just be ready in case this is just a market manipulation.

[MakeMoneyBtc]

I think it is a recovery but we have to wait until next week to see what is going on. This weekend will decide either this was just a pump so that people will fall in trap or the price is really recovering and it is on the good track going up to that 10.000$ barrier.

The price stays pretty stable at 8000$ and doesnt show any signs that it would go down but we can't know what is going to happen since we can't control the market. We dont know who is behind this pump but he surely has a plan for the future. The only thing we can do is wait and check the price every hour for changes.

[warrior333]

It's not a rescue and not a trap. This is the beginning of market recovery. We will have to wait a few more months for a full recovery. But time is not a problem. I think the biggest problem is trust. Many people still don't trust bitcoin. They themselves become victims of whales and the rest of the market destabilizes.

[magisterr]

I predict, that BTC come back to 10-12k in the end of April. And 16-20k in May. Same with ETH and other currencies. I imagine, how poor people crying now when they sold ETH at 350 usd 

[CrazeCoinz]

Whatever you may call it, a recovery or a trap, it's good to see the market this way as it's becoming more alive and the altcoins had been blossom with this bitcoin recovery. Although we can't assure that this will go all the way up. I'm hoping that this will be going up slowly and makes to reach again at the all time high by year end.

[Yatsida]

Personally, I am hoping that Bitcoin is already on its way into good recovery since we are now in the 2nd Quarter of 2018 and Bitcoin hodlers are already getting tired waiting for the silver lining to come into their weary hearts and minds. Frankly speaking, nobody can truly predict if this is already the recovery we are waiting for or just another bad trap. I am just hoping that profit-taking will not be voluminous this time that can possibly push the value down again.

I think it could be a trap. that is just used to squeeze the short. If the price is kept above $800 for a few weeks, then it will be a turn of tide.

[alyssa85]

It's a response to international events (war in Syria). Gold prices are rising too at the moment.

I think we now know what moves bitcoin - crises, It's the digital gold. That means that if things calm down again, the price will drop back again.

[livingfree]

can we be confident already that this bullish move will continue or it is just a trap?

Yes, we must be confident at this moment since it had showed more than 12% pumped. If this is a trap, it will basically go down before this pump happened. Trust those predictors who are saying good things about bitcoin and they are helping everyone to raise the value of bitcoin. The increase of volume in exchanges are the proof that it isn't a trap if it's a trap then you are just giving yourself something to think of and cause you a stress.

[Denker]

Well Yesterday I said in one of my comments that the bullish move of bitcoin from 6700$ to 8000$ in just a few minutes is shocking and thus we must be careful since it could be temporary and could be a trap. But until today there is no sign yet of bitcoins value going down and it still continued to increase at is already at 8k+$.

But I just noticed something, the more the price of bitcoin gets higher the more volume of btc goes in the exchanges especially in bitfinex from 74k bitcoin it climbed up to 96k bitcoin. This is a sign that more and more people are getting into bitcoin and the question is can we be confident already that this bullish move will continue or it is just a trap?

As long as we don't break 12k with some significant buying pressure/volume I see no reason to be euphoric to be honest.
Margin traders are playing their gamers at the moment. Yesterday the shorters got rekt. In a few weeks it could be the longs again who will have to bleed.
So I wouldn't care so much about the price at the moment if you're not a trader. Do something else in the meantime.

[bitcad4u]

Well Yesterday I said in one of my comments that the bullish move of bitcoin from 6700$ to 8000$ in just a few minutes is shocking and thus we must be careful since it could be temporary and could be a trap. But until today there is no sign yet of bitcoins value going down and it still continued to increase at is already at 8k+$.

But I just noticed something, the more the price of bitcoin gets higher the more volume of btc goes in the exchanges especially in bitfinex from 74k bitcoin it climbed up to 96k bitcoin. This is a sign that more and more people are getting into bitcoin and the question is can we be confident already that this bullish move will continue or it is just a trap?

Bitcoin had huge potential and this is cause of bitcoin price raise now.I had seen in crypto news,bitcoin price will increase more than 14k$ by the end of this month.If you had any bitcoin in your wallet,just hold it till the end of this month.Then you will get more dollars for the same bitcoin.And this is the time to hold your bitcoin.

[hahay]

No, I'm sure this is not a trap. The market will actually recover in May so I'm pretty sure, if that's true then now is the right time for the rising market and probably will keep remembering until it reaches the top point at the end of mei, maybe.

[Lieldoryn]

No, I'm sure this is not a trap. The market will actually recover in May so I'm pretty sure, if that's true then now is the right time for the rising market and probably will keep remembering until it reaches the top point at the end of mei, maybe.

The top point at the end of may is very optimistic. I don't. The upper point will not be reached until autumn. Until that time we are waiting for growth. Although the appearance on the market of such speculators as Soros can significantly change the behavior of prices. But the General trend towards growth can not break even Soros.

[BrewMaster]

if we saw any signs of dropping back down after the big rise then it could have meant a bull trap and a temporary rise but as you can see what happened in the past nearly 2 days was that price went up fast to above $8000 then the panic sell/correction began where price came down to $7700 ish and then from there it started rising back up again and it is currently at $8150.

this trend is only showing rise with a lot of money coming in. it may not be a 100% foolproof rise but it is 90% sure at least!

[cryptojac17]

Personally, I am hoping that Bitcoin is already on its way into good recovery since we are now in the 2nd Quarter of 2018 and Bitcoin hodlers are already getting tired waiting for the silver lining to come into their weary hearts and minds. Frankly speaking, nobody can truly predict if this is already the recovery we are waiting for or just another bad trap. I am just hoping that profit-taking will not be voluminous this time that can possibly push the value down again.

I  don't think it is a trap because it sustained as longer now  I think it is a recovery because  I think that there's no artificial recovery happening here but  just a natural phenomenon and driven by sentiment of the investors that  they started to realize that this is the moment they should invest.

[tomahawk9]

I don't this is a bull trap. IMO, this looks like tons of new money entering the Bitcoin ecosystem (+20% increase in the price is no joke, that's a lot of money), probably people trying to trigger the next bull run or just investors going FOMO. But we need to stay above 8k for a few days in order to dismiss the bull trap theory. So far, there are no signs of stopping, the price keeps going up, 8200 at the moment, probably 8300 in the next 4 hours... this is looking good, at least short-term.

[magisterr]

Just some good news from big people:

BITCOIN PRICE WILL HIT $250K IN 2022: TIM DRAPER SETS PREDICTION

http://bitcoinist.com/bitcoin-price-will-hit-250k-2022-tim-draper-sets-2018-prediction/

We are only in the beginning of crypto becoming and more and more people will be use crypto year by year. So, just HODL and buy more, guys