in order for a rise to start we first need to break some barriers (resistances) and some say it is about $6400 but i think it is about $400 above that market and closer to $7000 before the rise starts. i reckon if we reach $6700 the price will shoot up to $8000 like last time and that will be our rally. mostly because of the large number of people who are waiting to FOMO buy bitcoin with the smallest green light.
Probably this is correct, I think at this range bitcoin price will grow up but not totally in the market bull run.
And yes, many people now waiting when the market turns to green and I am one of them then if the bitcoin price hit at least $7000 many of smallholders sell their bitcoin. In this scenario, bitcoin price hardly recovered in the market. ( my own perception )
Btw market now it looks so good hopefully it will continue until in the month of December.
If this should continue to the month of December, how will it be for the new ICOs and their listing to exchanges. Cause most ICOs that has finished their sale are now scared to get listed on exchanges.
At the part you said "...when bitcoin price hit $7000 many of smallholders sell their bitcoins". This is true cause the few which will get their capital at this point will sell, but holders will still hold on. This should be the toughest time bitcoin has faced, that waved the entire crypto market.
