Current status of the crypto market

[zymcat]

We have witnessed a significant collapse in the cryptocurrency market and it shows some signs of getting recovered at the moment. Do you think that it will get stabilized somewhere around the current position or will it grow back to the full potential it has shown a few months back or even more?

[laiya94]

Now crypto market is little bit down. I think next support for bitcoin will be 6000 and then go up to 1000 but the only thing we can do at this moment is just watch.

[mwaqar17]

We have witnessed a significant collapse in the cryptocurrency market and it shows some signs of getting recovered at the moment. Do you think that it will get stabilized somewhere around the current position or will it grow back to the full potential it has shown a few months back or even more?

Ups and downs are necessary for the market to make traders alive and working. So hopefully market will get better soon. You must notice that in this collapse there were some crypto currencies that were/are doing very well. MTC and LOC are among these crypto currencies.

[Wind_FURY]

OP, in my opinion the recovery will take 2 more years then the Bitcoin market will start to become bullish again, maybe shortly after the halving.

I do not have any evidence for this except Bitcoin's price history and its correlation to the halvings of the past.

[Pursuer]

OP, in my opinion the recovery will take 2 more years then the Bitcoin market will start to become bullish again, maybe shortly after the halving.

I do not have any evidence for this except Bitcoin's price history and its correlation to the halvings of the past.

but you only looked at a tiny part of history and made that conclusion whereas you should have looked at the whole history if you wanted to make this conclusion.

you are correct about the bubble before $20k meaning the $1200 in Dec 2013. but that was not the only bubble that bitcoin had!
take a look at the $260 bubble which happened in April 2013. it was a rally from around $10 to $260 which is 2500% rise (this $20k was 1600% rise) and the bear market that followed only lasted about 6 months. or the one before that which was a fall to $2 in 2011 which lasted less than 5 months if I am not mistaken.

the $1200 bear market was a special one because we lost a huge exchange that controlled nearly all the market (had >80% of the volume) and it scammed people. we had to not only recover from the drop but also recover from the biggest scam in bitcoin trading history. and it technically lasted until first quarter of 2015 or 13-14 months.

[bobo012]

We have witnessed a significant collapse in the cryptocurrency market and it shows some signs of getting recovered at the moment. Do you think that it will get stabilized somewhere around the current position or will it grow back to the full potential it has shown a few months back or even more?

It will regain its full strenght and even surpass it down the road, i just dont know when it will be. Of course a lot of altcoins wont be recovering. It is ok because at least 95% of them are just an experiment anyways

[LogitechMouse]

If we base it on the yearly price history of bitcoin, the price of bitcoin spikes at around the -ber months of the year. Last year, we saw this by reaching a new ATH for bitcoin which is near 20000$. The current status of crypto market now is at its massive market correction. Its normal that this will happen. This gives us investors an opportunity to buy the dip. Lets buy the dip and wait for the profit. I hope prices will spike at around August - September.

[Denker]

OP, in my opinion the recovery will take 2 more years then the Bitcoin market will start to become bullish again, maybe shortly after the halving.

I do not have any evidence for this except Bitcoin's price history and its correlation to the halvings of the past.

No way we are going bear or just sideways for that long!!I mean nothing is impossible, but the chances for that to happen are extremely low imo.
The fundamentals are way too bullish, regarding Bitcoin, and if the whales are manipulating the price, suppressing it, they can not do it for about 2 years, I doubt it. Sooner or later the pressure to go up again will be so huge, that they gotta have to let it go.

[Marlo Stanfield]

We have witnessed a significant collapse in the cryptocurrency market and it shows some signs of getting recovered at the moment. Do you think that it will get stabilized somewhere around the current position or will it grow back to the full potential it has shown a few months back or even more?

I don't hold too strong of an opinion, since it's pretty hard to be confident about something like this. But from my experience witnessing all of the big bitcoin bubbles or boom/bust cycles, whatever you want to call them, I suspect we're settling in for a long quiet period again. Perhaps down minor bleed off for a while or smaller rises and dips. I think it's pretty unlikely that 2017 is going to repeat itself anytime soon. Just the fact that this boom cycle lasted for such a long period of time was absolutely amazing. Normally it was over much quicker than that.

[swissgang]

It seems like the market fluctuate in this way, a crash to $4000 or a bull run to $20000 again is simply speculation, the market is very realistic right now, rather than people's thoughts I look at actual prices.

[batang_bitcoin]

Now crypto market is little bit down.

It's not only little bit down but it's totally down and now far from the market before.

will it grow back to the full potential it has shown a few months back or even more?

Definitely it will, don't doubt bitcoin from the value of nothing to something. This is the best cryptocurrency and has performed for the past years even though there are also bad years for it. Eventually it has recovered from those bad years.

[Febo]

We have witnessed a significant collapse in the cryptocurrency market and it shows some signs of getting recovered at the moment. Do you think that it will get stabilized somewhere around the current position or will it grow back to the full potential it has shown a few months back or even more?

We are past bubblepop phase in Bitcoin. Price will stay close to where it is going up a bit and down a bit. But more down then up. This situation will probably going on for most of next year. Only after that we will start seeing growth.

[fabiorem]

No, we will be down for a very long time, something around 12-16 months.

Price can go as low as $3000, as the Cartel is doing all it can to throw people out of it.

[Wind_FURY]

OP, in my opinion the recovery will take 2 more years then the Bitcoin market will start to become bullish again, maybe shortly after the halving.

I do not have any evidence for this except Bitcoin's price history and its correlation to the halvings of the past.

No way we are going bear or just sideways for that long!!I mean nothing is impossible, but the chances for that to happen are extremely low imo.
The fundamentals are way too bullish, regarding Bitcoin, and if the whales are manipulating the price, suppressing it, they can not do it for about 2 years, I doubt it. Sooner or later the pressure to go up again will be so huge, that they gotta have to let it go.

I know I might be wrong by more than 50% of the time. But that is the only way I can see Bitcoin reaching the previous high and break it.

Maybe it could also happen months before the halvening in anticipation of the pump caused by the halvening. There, less than two years. Hahaha.

Pursuer also made a good post. 

[KorakPawon]

OP, in my opinion the recovery will take 2 more years then the Bitcoin market will start to become bullish again, maybe shortly after the halving.

I do not have any evidence for this except Bitcoin's price history and its correlation to the halvings of the past.

No way we are going bear or just sideways for that long!!I mean nothing is impossible, but the chances for that to happen are extremely low imo.
The fundamentals are way too bullish, regarding Bitcoin, and if the whales are manipulating the price, suppressing it, they can not do it for about 2 years, I doubt it. Sooner or later the pressure to go up again will be so huge, that they gotta have to let it go.

I know I might be wrong by more than 50% of the time. But that is the only way I can see Bitcoin reaching the previous high and break it.

Maybe it could also happen months before the halvening in anticipation of the pump caused by the halvening. There, less than two years. Hahaha.

Pursuer also made a good post. 

I really agree that we do not always have a thought when the price goes up is a price that leads to stability but it is proof that users start to add we do not know whether to go back up or even can fall back like the previous week.

[zymcat]

We have witnessed a significant collapse in the cryptocurrency market and it shows some signs of getting recovered at the moment. Do you think that it will get stabilized somewhere around the current position or will it grow back to the full potential it has shown a few months back or even more?

Ups and downs are necessary for the market to make traders alive and working. So hopefully market will get better soon. You must notice that in this collapse there were some crypto currencies that were/are doing very well. MTC and LOC are among these crypto currencies.

How long do you think will it take to fully recover from the current downfall? I'm referring to BTC and ETH. I know it is hard to predict but with your expertise can you predict any period of time?

[rat03gopoh]

There are no signs that the price of bitcoin will bounce up in the near future. I think the bitcoin price will last only in the range of $ 7k to $ 8k long enough.

[zymcat]

This conversation is getting highly interesting. What do you see as the main forces which lead to the current downfall?

[LeGaulois]

It is supposed that the current crisis in Italy and the fear from Europe is making the cryptos market up today. While I think it is a possible reason, I am surprised we can see the result on the market so fast.
Where are they guys since, sleeping? Because Italy is a country in agony since long ago and Europe won't be able to help them financially

[Javi_Anibarro]

It is supposed that the current crisis in Italy and the fear from Europe is making the cryptos market up today. While I think it is a possible reason, I am surprised we can see the result on the market so fast.
Where are they guys since, sleeping? Because Italy is a country in agony since long ago and Europe won't be able to help them financially

yes i saw that too.
and because of that we are making a breakout(i have no idea it's the real one or another fake breakout).
right now 1H candle show us a bullish sign,and we are waiting for 6H to form up another bullish sign.
again do not believe it 100% because something like this happened many times before.