Bull trap? or Bull run BTC breaks $8000

[pooya87]

What do you think about this bull run right now? BTC recently breaks  $8000, is it a bull trap or a real deal? FOMO?

i don't know what you mean by "real deal" but it is neither bull run nor bull trap. this is basically bitcoin going back to where it belongs after hitting the bottom last month. and when a rise happens like this there is always FOMO which contribute to that rise and make it bigger.

people converting their Alts to BTC?

when you for example, go to Binance and dump an altcoin for bitcoin, the bitcoin price doesn't change! because it is not on BTC/USD market but instead on BTC/ALT market.

I have many questions right now bought BTC from $7800 should I get out? or ride this wave, It's very difficult to anticipate market now because of bitcoin ETF.

it is difficult to anticipate because you got in way too late.
what you should have done was to buy bitcoin when it was at the bottom around $6000-$6200 and was building up to rise or at least you should have bought when the rise began around $6500-$6800 not wait until last minute to get in after about a 30% rise.

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[EdenHazard]

Bull trap means a price increase dramatically but suddenly only a few hours before the price will return to the lowest price. However, seeing the rise in bitcoin prices after two days is different than usual. First, the price increase occurred at $ 6000- $ 7200, experienced a few hours of stability, but after that the price rose again to $ 8300 and still shows strong up. So, for me it's not bull trap, but bitcoin will be back on the bull market we can see later.

[Q2kc]

Well, the ETF decision has been pushed to September, so it is still awhile to see if that will have any significant impact on the market.

Yes they extend it until September and I don't know now if this is good or bad for the market, can we see BTC hold $8000? or it will go back to $7000 again this market is very unpredictable now too many speculations.

[greensheep]

I guess bull trap, a bull run starts silently...

[btc_angela]

I don't think this is a bull trap because we have some positive news that really bring more investors. Unlike the previous runs we had, it will just go up in like 2-3 days before we will see another dumps. But this time, FOMO is coming in, and probably most of them are selling alt coins for bitcoins now. So we will see when we are going to see an end to this run when the SEC gives its decision on Bitcoin ETF application by CBoE.

[bozo333]

I guess bull trap, a bull run starts silently...

I think bull run is stop silently the future journey of Bitcoin is good but current growth slowly stop know because all are expecting the good hype in market so this will move positive response in current market. Automatically some peoples are sell slowly it is affect the market. Bitcoin is a good growing Cryptocurrency but this year it was continuously volatile in market so bull run is possible on next year.

[BitcoinNewbie15]

I don't think this is a bull trap because we have some positive news that really bring more investors. Unlike the previous runs we had, it will just go up in like 2-3 days before we will see another dumps. But this time, FOMO is coming in, and probably most of them are selling alt coins for bitcoins now. So we will see when we are going to see an end to this run when the SEC gives its decision on Bitcoin ETF application by CBoE.

I don't think this is a bull trap either. I do believe the bear market is over. I've always thought that this bear market would be accelerated because of how many eyes are on the market now. Not only that, but many people are pushing for an ETF approval this year. Usually bear traps are only a few %, maybe 10%. But Bitcoin is up much more than that over the last two weeks or so.

[Q2kc]

BTC from $8200 to $7900 really fast is it about the Winklevoss Twins Bitcoin ETF Application Rejected by SEC? this is what I'm saying last few days ago that this market is very difficult to anticipate, this question is running in my mind for almost a month now does Bitcoin really at the bottom? If $7800 - $8000 will last for a couple of weeks I will buy more Bitcoin Then.