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Author Topic: Bitcoin (BTC) Price Analysis: Bulls Refuse To Back Down  (Read 232 times)
richardsNY
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July 17, 2018, 07:15:57 PM
 #21

I believe however we will consolidate in this area generally though, again no rise goes without some selling.  Both trends have to renew in order to continue.
So I think 7400 to 7700 area is where it could come to more of a rest.   It would be bullish to pullback and consolidate in this area before challenging any ceiling higher

This perfectly shows that it is very smart to go against the general sentiment. I hope that we can keep $7000 for a longer while, but even if not it's fine with me -- having broken through $7000 is pretty bullish and pushes the bar higher. I like how it's Bitcoin with the highest % gains instead of altcoins today, which doesn't happen all that often. That being said, we shouldn't lose our cool just because the price has gone up. There hasn't been anything that technically or fundamentally changed. It's either a due increase, Black Rock speculation, or ETF speculation, where none of these factors have any foundation to build on yet.
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July 18, 2018, 06:19:24 AM
 #22

The whales might have also sold in the all time high and buy the low.

No kidding, Sherlock.

The big boys have taken 3-way profits by selling the spot market down, shorting the crap out of it through futures, and shorting the crap out of it through BitMex.

Fundamentally speaking, whales aren't really selling their coins, they just dump their coins in their own buy orders on the way down. By the time they dumped the price to the bottom they have more coins, more fiat, and a lower price to accumulate even more coins at. That's the good life. All the noobs here are nothing more than a bunch of flies to them. What happens with flies when they become annoying? They get squashed. That's exactly what happened with weak hands and other get rich quick noobs.

Hahaha of course! But Lucius might have assumed that Bitcoin "exchanged hands" from the weaker players to the stronger, and more serious players, maybe without considering that it was "the same serious players" that sold the high and are presently buying the low. Cool

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liamnorthcoins
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July 18, 2018, 07:51:25 AM
 #23

https://ethereumworldnews.com/bitcoin-btc-price-analysis-bulls-refuse-to-back-down/

This is what I love about BTC. With the previous bloodshed, BTC is trying to exhibit a very promising uptrend despite the FUD and hacking incidents that happened. Hope this recovery will last until next year's bitcoin halving and continue to perform well in the coming years.
Even with all the unfavorable price decrease in the market right now for bitcoin people must learn to appreciate it instead of attacking it with negative comments just because it did not reach their expectation., The resistance that it has showed to back down is really strong and very commendable.  It has proven its worth many many times and people if they could not appreciate it they should just shut their mouth up if they dont have something good to say about it.
Gabteb
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July 18, 2018, 07:55:24 AM
 #24

We see how much big Companies come to crypto so sooner or later we will see bulls people who said "its bubble" know say ,"maybe not" ,becouse most of them try to kill it but understood its unstopable.


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talkbitcoin
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July 18, 2018, 09:25:57 AM
 #25

hacking incidents
We are not in 2013 anymore. At that time, there was only half-dozen exchanges, today there are hundreds of them.

this is inaccurate. back in 2013 there was practically only one exchange working and that was Mt Gox because it had a huge percentage of the daily volume. there were others but their share of the market was too small.

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PsylockReborn (OP)
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July 26, 2018, 05:38:54 PM
 #26

the FUD is only effective for a short period of time before it stops being effective.
FUD won't stop when it comes to bitcoin.
you never see FUD continue influencing the prices forever otherwise price would have dropped down to zero.
This won't happen to bitcoin due to the support of the community and the die hard bitcoin enthusiasts but when it comes to altcoins it is very much possible that the value will go down to zero.
and as for the hacking incident the last one was an ETH hack and it had nothing to do with bitcoin and the fact that bitcoin price also went down was because ETH got dumped in my opinion.
Yeah it had nothing to do with bitcoin but it has a big impact in the image of cryptos as a whole since Eth is considered as one of the major altcoin.
This perfectly shows that it is very smart to go against the general sentiment. I hope that we can keep $7000 for a longer while, but even if not it's fine with me -- having broken through $7000 is pretty bullish and pushes the bar higher. I like how it's Bitcoin with the highest % gains instead of altcoins today, which doesn't happen all that often. That being said, we shouldn't lose our cool just because the price has gone up. There hasn't been anything that technically or fundamentally changed. It's either a due increase, Black Rock speculation, or ETF speculation, where none of these factors have any foundation to build on yet.

We were just talking about $7000 last week and now its already past $8k. Bitcoin is really performing this past few days.

Do you think it will touch $9k early August?
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