Is now the turnaround point?

[Florina1990]

A good question and a good point. Yes i think now is turnaround time. I think now is time for bitcoin price to go over 8000$ and reach again 10000$. We just need to wait and see price after 3 weeks.

[1715188903]

1715188903

[1715188903]

1715188903

[spiker777]

I think the recent pump was simply due to there being less FUD associated with Bitcoin than usual. There were no major happenings surrounding bitcoin at the time, which for a scarce currency like Bitcoin is actually good news. No news, is good news for crypto. I don't expect the pump will last much longer though as we barely broke the $6.7k resistance point. I doubt there is a full turnaround or a long term bull flag, odds are we will however around this level for a while until volume increases.

[magneto]

I definitely feel like that this is more of a short term bounce upwards than anything major to signify the start of a prolonged period of bullishness. We did see bitcoin momentarily dip below $6k before the quick rebound which indicates that the support is extremely high, but I think that it's way too early to say for sure that this is the end of the bear market altogether.

It's very probable that starting next year we will see bitcoin definitively turn around and start its recovery. It could even happen in Q4 of this year. But as others have said, if we look at previous bear markets, they have generally lasted more than half a year.

However, looking from the information that we have right now, it's highly likely that we're already close to the bottom at the $5-7k level. I simply don't see prices crashing down much further than what it currently is, due to the high demand especially with the new institutional investors coming in. So it's a great time to accumulate overall, for the long term.

[pooya87]

I think the recent pump was simply due to there being less FUD associated with Bitcoin than usual. There were no major happenings surrounding bitcoin at the time,

maybe YOU haven't been checking the media lately! the FUD is still strong if not stronger than ever! there has been a lot of new articles talking about how "dead" bitcoin is and how it will end badly and the bullshit like that. additionally we have had the situation in India which has been made so much bigger and more dire that it is in the past week.

p.s. it wasn't a "pump" it was a "rise"!

[crzy]

For me maybe a gradual rise to the ATH because it already made a progress since bearish broke the 6k resistance which is from $5800 and now $6700 (the current price of market ,) that's why i believe soon the price of market will reach 9k again slowly but surely ,

I like to see bitcoin stable on its price right now and soon we will reach $7k level again after that we can confirm that this is already a reversal and we are now heading to a higher pump this year. It will happen this month and possibly reach a higher value. Its time now to wake up the market