is bitcoin out of the bear pocket

[bitcoinfrings]

do you think bitcoin is out of the bear pocket.. ?

[1713859851]

1713859851

[1713859851]

1713859851

[1713859851]

1713859851

[SupplyBloc]

We are sitting on a solid support at 8800. I think we will slowly make our way up to 10-11k(Short time frame) while alts continue to have their alt party. This is not investment advice as this is just a fun prediction from an old trader.

[Bervelukan]

It could be so because most bitcoins are owned by big whales, and they can set prices with bitcoin they have.

[willdangmmo]

when bitcoin uptrend???

[franky1]

this time last month. the price of bitcoin went below the cost of mining 1btc. which does not happen often.
the cost of mining usually is treated as a good support line. but it appears many really dumped below that
(bears on a rampage)

as you can see by the red area on the right


but it has looked to recover but still not out of the woods. the bears are still hanging around

the cost of mining has gone a little wild this last month but $9133~ is the mining cost of 1btc today
if you ever want to calculate the mining cost. get the hash rate and then use this excel formulae

be warned different site show different daily hashrate averages. some say 23 ex some say ~30 ex

if hashrate measured in exa
=((HR/0.000014)*8.22)/1800                replace HR with hashrate: (28 for yesterday/taoday for example)

if hashrate measured in peta
=((HR/0.014)*8.22)/1800

if hashrate measured in terra
=((HR/14)*8.22)/1800

any way i dont think this trading below mining cost can go on for much longer before something happens.. the
day traders must be runnin out of old reserves, which will leave the miners fresh coins which they wont sell below cost
so new supports are due soon. just no one can predict the exact date when.

[timerland]

do you think bitcoin is out of the bear pocket.. ?

For the moment, yes. We did realize around 40% gains from the bottom to where we are now, which definitely isn't bearish by any means. However, looking at the greater scheme of things, I think we may not be out fully.

Because unlike last year, this time traders are more cautious even in the bull run that we are having right now. A lot of people are ready to take profits if the opportunity presents itself, which means that prices aren't going to increase fast.

I personally think that there may be more dips to come, before the real recovery starts that takes us to the new bull market. We've only really been in a bear market for 4 months or so, compare that to the 1 year bear market in 2014, and you'll see that we probably have some more months of non-bullish market activity even though markets have matured a lot since 2014.

[followmenot]

I think its not yet out of that bear trap. Its just stronger than last couple of months. But we need bitcoin to hit at least 10000 dollars maybe even 12000 dollars to say that its really going out of bear market.

[liuqi]

It could be so because most bitcoins are owned by big whales, and they can set prices with bitcoin they have.

Many old investors are Buying Bitcoin in 2014. But now is peak in the market so all are thinking whales are controlling the market. But actual reason is many governments are regulate the Cryptocurrency so automatically some whales are trying sell and exchange the some other coin it is reflected in Crypto market. So investors are just protect the Crypto investment it is cause some price fluctuation.

[Kylapoiss]

It could be so because most bitcoins are owned by big whales, and they can set prices with bitcoin they have.

Many old investors are Buying Bitcoin in 2014. But now is peak in the market so all are thinking whales are controlling the market. But actual reason is many governments are regulate the Cryptocurrency so automatically some whales are trying sell and exchange the some other coin it is reflected in Crypto market. So investors are just protect the Crypto investment it is cause some price fluctuation.

But whales are the ones who are controlling the market, look at the scamsite bitfinex for example. Massive manipulation with Bitcoin and tether. Without bitfinex the price wouldn't probably be so high as it is now or even more so in December.

[Tankdestroyer]

But whales are the ones who are controlling the market

Whales can also be referred to as bears when they dump a lot of their stash, so in a sense I can say that bitcoin is not out of the bear pocket yet and will always not be. So long as they can buy low and sell high, there will always be a supply for bears to dump. I also think that btc is not in the clear yet, we might see another bearish trend soon(I might be wrong though) but there is also a chance that we will see a bullish move again.

[alyssa85]

do you think bitcoin is out of the bear pocket.. ?

No, not yet. We need to break past the $10,000 mark decisively before we can breathe a sigh of relief. (Remember that $10k is still 50% down from bitcoin's all time highs).

[jagdeepjd]

do you think bitcoin is out of the bear pocket.. ?

Though it appears to be out of the bear pockets but as per the chart analysis by some experts they stated that 12200$ is  a major resistance bitcoin needs to surpass for it to be called out of bear market.
Sentiments are bullish at the moment for bitcoin though lets see how it play in the coming weeks.

[BitHodler]

No, not yet. We need to break past the $10,000 mark decisively before we can breathe a sigh of relief. (Remember that $10k is still 50% down from bitcoin's all time highs).

While current levels technically hover far below the current all time high, we must be realistic enough to understand that the $20,000 mark was only there because of the insane speculation last year.

It was nothing but a speculative hype peak that never stood a chance to remain up in the first place. The price went up far ahead of everything that makes sense ~ what goes up quick comes down quick.

The more people keep focusing on that $20,000 peak, the more they lose track of what's actually happening. In every market there are hype phases and the regular demand phases, which we are currently in.

[thecodebear]

this time last month. the price of bitcoin went below the cost of mining 1btc. which does not happen often.
the cost of mining usually is treated as a good support line. but it appears many really dumped below that
(bears on a rampage)

as you can see by the red area on the right


but it has looked to recover but still not out of the woods. the bears are still hanging around

the cost of mining has gone a little wild this last month but $9133~ is the mining cost of 1btc today
if you ever want to calculate the mining cost. get the hash rate and then use this excel formulae

be warned different site show different daily hashrate averages. some say 23 ex some say ~30 ex

if hashrate measured in exa
=((HR/0.000014)*8.22)/1800                replace HR with hashrate: (28 for yesterday/taoday for example)

if hashrate measured in peta
=((HR/0.014)*8.22)/1800

if hashrate measured in terra
=((HR/14)*8.22)/1800

any way i dont think this trading below mining cost can go on for much longer before something happens.. the
day traders must be runnin out of old reserves, which will leave the miners fresh coins which they wont sell below cost
so new supports are due soon. just no one can predict the exact date when.

Sweet graph. Is there a site that shows that graph of mining cost vs price?


And I would say we are out of that bear pocket. The mining price will probably be the bottom of the rising channel over the next few months as Bitcoin consolidates its price and builds strength for the next bull run.

[jtipt]

do you think bitcoin is out of the bear pocket.. ?

No, not yet. We need to break past the $10,000 mark decisively before we can breathe a sigh of relief. (Remember that $10k is still 50% down from bitcoin's all time highs).

I think that ATH of $19k was highly over valued, it would had never sustained that comparing today's price with that isn't a wise move. $9k and the relative market stability is very good for bitcoin in long term. Eventually even $19k will look like just another ATH that bitcoin surpassed.

[vibingpositively]

do you think bitcoin is out of the bear pocket.. ?

No, not yet. We need to break past the $10,000 mark decisively before we can breathe a sigh of relief. (Remember that $10k is still 50% down from bitcoin's all time highs).

I think that ATH of $19k was highly over valued, it would had never sustained that comparing today's price with that isn't a wise move. $9k and the relative market stability is very good for bitcoin in long term. Eventually even $19k will look like just another ATH that bitcoin surpassed.

Yup while we are almost out of this bear run, it won't be confirmed until we pass the 12k mark. Anything else will give me false hope at this point and given everything we know about Bitcoin, it will make another ATH it just needs that resource called time.

[batang_bitcoin]

No, not yet. We need to break past the $10,000 mark decisively before we can breathe a sigh of relief. (Remember that $10k is still 50% down from bitcoin's all time highs).

Few more steps left and we're out of it. Remember the time when it was around $6,000 and it stayed there while it also tried not to step down to $5,000. I think we're on the same cycle on $9,000 now, we'll definitely see bitcoin breaking $10,000 after a week or two.

Eventually even $19k will look like just another ATH that bitcoin surpassed.

We are used to the current prices but correct that it will only look like another ATH. This is like the finals of NBA that makes my heartbeat faster as it tries now to cross $10,000 which everyone believes the support that will give a sign that we're out of the bear.

[franky1]

this time last month. the price of bitcoin went below the cost of mining 1btc. which does not happen often.
the cost of mining usually is treated as a good support line. but it appears many really dumped below that
(bears on a rampage)

as you can see by the red area on the right

https://i.imgur.com/yIudFiW.png
but it has looked to recover but still not out of the woods. the bears are still hanging around

Sweet graph. Is there a site that shows that graph of mining cost vs price?

And I would say we are out of that bear pocket. The mining price will probably be the bottom of the rising channel over the next few months as Bitcoin consolidates its price and builds strength for the next bull run.

i just grabbed the data for just the last 30 days (upto 29th)
and the price is still not quite out of the woods.
left side of the vertical red line is where the graph of previous post stopped. right of the red line then shows the next(recent) 10 days


once the blue (price) line stays above the orange(cost) line. then we are safely out of the forrest where the forrest bears live (out of the pocket) and then we will probably be n the field of bulls

but again still kinda on the edge and still can run in either direction right now

i have not found a good public chart that displays this.
but the data is available. i got the hashrate and market price data (in CSV format) from blockchain.info and with 30 seconds of copy and pasting, i made the chart

most dumb trend anals only look at price data and nothing else which i find shameful.
i found mining cost data to be informative because the october 2013 ramp up in price was due to ASICS first coming online and the
cost of mining jumped. simultaniously the market price jumped too. so there are some patterns to using mining cost data

but when you mentioned this recent drop being a "bear pocket" i instantly noticed the out of trend "pocket"(U shape).. wher the price went below mining cost (red zone in my previous post chart)

so yes this recent period was a "bear pocket".