Bitcoin Analysis 1st August 2018 | Going Bullish Or Bearish?

[medaheads]

Bitcoin has dumped by $800 in last 7 days after climbing by $2000 in last 15 days. So, the current dump we're seeing is a healthy correction in the market and somewhat necessary as well.

Although, the next movement of Bitcoin will be highly crucial for current trend. Bitcoin, as we all know, is highly manipulative. So, only invest what you can afford to lose in crypto market. When do you think Bitcoin could hit $20K?

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[koki123]

Yes, thanks to this increase, the total value of the world once again is close to $ 300 billion, according to Coinmarketcap.com. Bitcoin prices are still 60% lower than last month's peak of $ 20,000. Bitcoin prices and other numbers have reversed this month.

[hugeblack]

In my view, what is happening is resentment due to the bad news from ETF, which may continue until the middle of this month, rather than a healthy correction.
Maybe this decline will continue, but I do not think it will keep to the $ 6000 levels.
The middle of this month is the breaking point if there is negative news, maybe we will not see $ 20,000 this year.
Panic is not necessary for this stage, whatever news, it will affect in the short-term.

[TopTort777]

Can someone explain this situation in the previous 2 weeks - when Bitcoin goes up, alts goes down. This week bitcoin went down, same does the alts... Hope that will not repeat this month.

[djcounter]

In my opinion, bitcoin will grow up, but not coming soon. it play between 6000 to 10000 until new money be injected into the market.

[centurionlaw]

If bitcoin market is in correction mode than its good sign for upcoming days also price decrease is possible because of ETF rejection. but this will not decrease much because of Support area also we can see in upcoming days bitcoin will touch $10000 but invest only which u can afford and main thing when we enter in market and exit.

[bloodyvio]

bear first and then bullish
same as the previous year
bear comes first during Q1 ~ Q3 then bullish comes in Q4
if not believe try to look at the charts in coinmarketcap
every Q4 of the crypto volume always has a significant increase if you are compared with Q1 ~ Q3

[Kprawn]

You guys know that this correction is normal for what has happened with the SEC and all... right? Some speculators thought

that they are quickly going to make some money, if the ETF was approved by the SEC and when that did not happen, they

pulled their investment, before the correction got momentum. I say good riddance, because we do not need a bunch of short

term speculators in this market. 

[suemendez25]

Probably because of the ETF news. I think we will see a decrease for the next few weeks but will probably go up again and continuously for that matter until the end of the year.

[Nilda]

Bullish. Still optimistic that bitcoin will hit 5-digits this month. This despite August being called The Ghost Month in some cultures. 

[max1616]

As you said, there was a 2-week upward trend..However, there were sudden drops in 2 days..Maybe it was something that was necessary..I expect the next increase to be bigger..My guess is that in November, we can see $ 20,000.

[pimkobai]

In my observation, I think bitcoin may be going for a bullish market within the coming months but not on the month of August 2018. People should better hold their btc further while waiting for the recovery and if have you have some additional capital, it would be better that you buy more btc and wait until Q4 of this year since I believe that what happened last year would anyhow be repeated again this year.

[Pursuer]

So, the current dump we're seeing is a healthy correction in the market and somewhat necessary as well.

these two statements are contradicting each other!
if it is a dump then it is not a healthy thing. and if it is a healthy correction then it can not be a dump.

and I disagree with calling this "necessary" because a correction "drop" is only necessary when there was an actual big rise not any kind of rise. and this rise was a correction of sorts after the huge drop to $6k. we were recovering from that bottom not having a rally!

Although, the next movement of Bitcoin will be highly crucial for current trend. Bitcoin, as we all know, is highly manipulative.

I also disagree with using the term "highly" here because things aren't as bad as you think although the manipulation exists in bitcoin market.

[nussy]

The decrease in bitcoin price was highly due to bad nqews and FUD going on in recent time. The $20,000 might not come any moment soon, a least not this year again. But am certain the market will correct itself,  the capitalization is booming already and that's a good indicator.

[BitcoinHodler]

neither bullish nor bearish. we are sluggish

that they are quickly going to make some money, if the ETF was approved by the SEC and when that did not happen, they pulled their investment, before the correction got momentum. I say good riddance, because we do not need a bunch of short term speculators in this market. 

the short term speculators aren't going to go away just because of a drop. they pull out to put it back in a little later when the price reached the bottom. that is why they are called short term speculators!
if someone pulls out and goes away then they weren't investors, nor speculators short or otherwise. they instead were gamblers.

[Shimmiry]

Bitcoin has dumped by $800 in last 7 days after climbing by $2000 in last 15 days. So, the current dump we're seeing is a healthy correction in the market and somewhat necessary as well.

Although, the next movement of Bitcoin will be highly crucial for current trend. Bitcoin, as we all know, is highly manipulative. So, only invest what you can afford to lose in crypto market. When do you think Bitcoin could hit $20K?

The reason may be is that the newbies easily believe to what others are saying. Many of the cowards (those people who sells there bitcoin, during bitcoin's market down) are pulling the bitcoin downward. But as per the real virtual world there are kore companies who started investing in bitcoin and this may be the reason of bitcoin's boost. But we can not really predict what will be going on next. We must believe to the power of bitcoin.

[supremacy10]

Anyway it goes, I'm having btc and fiat to ride the wave now

[aoluain]

At the moment its sleepy bear time, he is not yet coming out of hibernation.
The markets are moving slowly but its an upwards move.

Those short term investors who are not looking to medium and long terms are alwats going to
affect the market. There are a lot of people looking to make gains as the markets move.

With that in mind the OP'S $20k is a long way off.

[talkbitcoin]

the trend that we have these days may not be exactly a bull market trend but it definitely is not a bear market anymore. it stopped being that a couple of months ago that price hit the bottom and started its reversal.
and you can not call this a bearish trend unless price drops below that bottom (go to $5k) and stays there which is not possible anymore.

[Raphagalthena2]

Bitcoin has been maintaining its spot to stay in the headlines, almost every other day. It’s plummeting feature made the crypto traders stay in the corner of their seat. I think bitcoin will bullish.