Big pop up again

[sevenjoy]

This is what Wall Street call "price discovery". Its the point where they cant suppress the price any longer.

But the issue remains: will it go up from there? Will this bottom go up? Or will the price keeps swinging over it?

We’ve been here so many times this year, and seeing the previous price movement, always a bounce back after hitting this level. Maybe the theory of the OP is right since the support level are strong between the price range of $5k-$6k where buyers and sellers agreed the bottom price. No one can answer your question but as an optimist hodler, Maybe we see a new bottom but I know it will to rise again.

IMO institutional investors have buys just under the $6000 mark. Which is why it's holding above that level. What is missing is retail investors - they've been scared away by the price drop from $20,000 plus all the drama with fees at the end of last year.

We need some big investors in current time, which can give some boost to bitcoin price. Once the bitcoin price will start increasing then the retailer will also get some confident and will hopefully start buying bitcoin, which is in fact too much important for the bitcoin price.

Big investors know when they should start accumulating and this may actually be the accumulation period as the case may be. Like Cellard said, it is possible we already have the bigger players who are trying as much as possible to not see the value go down below what would not pay them as miners as we move on.

For what it is worth, I guess we can pretty much assume that this point forward, we may actually start consolidating and swinging between this price range until the market is ready to pick up eventually.

[1715304470]

1715304470

[1715304470]

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[lingwistiko]

The steady, lazy and low bitcoin price movement can tell us all that the bearish market is not yet over. It sometimes frustrates me to see how long the market has been into this trend that is why i just want to stay away from the market or listening to someone else's predictions.

[wuvdoll]

As we approached sub $6k and actually hit $5.9k... we see another huge pump to $6400. Impressive, a $500 dollar move up just like that, on a single candle. Someone bought a pretty decent amount of coins.

The theory of how that $5k-6k price range is the diamond solid ground in which miners will never let bitcoin go below is shaping up. Governments want to take the price down and tank it so they can buy it all but someone (maybe rich miners and other whales) keep using that range as the reverse point. Let's see if it holds. We have touched this same point so many times that the theory might be right.

We can absolutely expect for a huge pop up again due to the market price that is currently dropping and that is the reason why we should invest today.

Well, the good thing about a price drop is that it gives another chance for investors to take a chance to buy and see if there would be enough demand to push it back higher. For what it is right now, nothing is guaranteed and even though we might bet to see some pretty good movement in terms of price in the short term, it still does not change the fact that bears can still act at any point.

We would only be able to see this come to an end when we certainly start forming higher highs and lows, but for now, we aren’t even there yet. So, people should stop expecting a huge pump like what happened last year; this is a market with totally different condition from last year.

[BlackSociety]

In fact, miners also play an important trading role, aren't they? When the decline in Bitcoin affects their interests, they will begin to take over the market and let Bitcoin rebound!

[jossiel]

The steady, lazy and low bitcoin price movement can tell us all that the bearish market is not yet over.

It's not yet over though bitcoin dominance is increasing. The last time I saw it was only around 53% now its up by 56% and is still increasing.

It sometimes frustrates me to see how long the market has been into this trend that is why i just want to stay away from the market or listening to someone else's predictions.

Better to stay away for awhile and get back again if there's something interesting and a sign that bull's coming and the bear's out.

[watashi007]

The steady, lazy and low bitcoin price movement can tell us all that the bearish market is not yet over.

It's not yet over though bitcoin dominance is increasing. The last time I saw it was only around 53% now its up by 56% and is still increasing.

It sometimes frustrates me to see how long the market has been into this trend that is why i just want to stay away from the market or listening to someone else's predictions.

Better to stay away for awhile and get back again if there's something interesting and a sign that bull's coming and the bear's out.

The opportunity to pile up there bitcoin wallet whenever the price seems to dump. Those whom don't seems to cease opportunities goes into whining about the price. Don't be suprised if it's the government that keeps on manipulating price so they can stock up their wallet. For their own benefit, they may be the 'whale ' investors we keep talking about.

[aencarnaci]

This is what Wall Street call "price discovery". Its the point where they cant suppress the price any longer.

But the issue remains: will it go up from there? Will this bottom go up? Or will the price keeps swinging over it?

We’ve been here so many times this year, and seeing the previous price movement, always a bounce back after hitting this level. Maybe the theory of the OP is right since the support level are strong between the price range of $5k-$6k where buyers and sellers agreed the bottom price. No one can answer your question but as an optimist hodler, Maybe we see a new bottom but I know it will to rise again.

IMO institutional investors have buys just under the $6000 mark. Which is why it's holding above that level. What is missing is retail investors - they've been scared away by the price drop from $20,000 plus all the drama with fees at the end of last year.

We need some big investors in current time, which can give some boost to bitcoin price. Once the bitcoin price will start increasing then the retailer will also get some confident and will hopefully start buying bitcoin, which is in fact too much important for the bitcoin price.

Big investors know when they should start accumulating and this may actually be the accumulation period as the case may be. Like Cellard said, it is possible we already have the bigger players who are trying as much as possible to not see the value go down below what would not pay them as miners as we move on.

For what it is worth, I guess we can pretty much assume that this point forward, we may actually start consolidating and swinging between this price range until the market is ready to pick up eventually.

And a big pop down again. This is the life we are living right now, going up and down quickly in all directions without doing much in the sense of a bear or bull run.

The 10% quick going up and down can't be considered a bear or bull run in neither direction its just daily regular price fluctuations so we are stuck at this level for a long time just watching it without actually getting our hopes up for anything.

It is incredible that we have not seen a movement to any direction with like 20% for months now, I would expect something as volatile as bitcoin and crypto to actually have insane movements but no we are at the land of death just waiting for any moves. The last quarter 2018 must be different as per many people's expectation. I am also expecting a new ATH within this year. It may sound greed but anything will be possible in this market hence there could not be any mistake in my expectations.

[Andrew S]

Everyone wants to find their own benefit from all situations and this is not surprising.  All people are looking for easy ways to earn money.

[BitcoinNewbie15]

The steady, lazy and low bitcoin price movement can tell us all that the bearish market is not yet over.

It's not yet over though bitcoin dominance is increasing. The last time I saw it was only around 53% now its up by 56% and is still increasing.

It sometimes frustrates me to see how long the market has been into this trend that is why i just want to stay away from the market or listening to someone else's predictions.

Better to stay away for awhile and get back again if there's something interesting and a sign that bull's coming and the bear's out.

The opportunity to pile up there bitcoin wallet whenever the price seems to dump. Those whom don't seems to cease opportunities goes into whining about the price. Don't be suprised if it's the government that keeps on manipulating price so they can stock up their wallet. For their own benefit, they may be the 'whale ' investors we keep talking about.

I don't think there are governments manipulating the price. Bitcoin is far too speculative for them to be trying to manipulate it just to load up on reserves. However, I do believe there is some manipulation in the markets by huge corporate entities.

The news about Goldman Sachs abandoning a Bitcoin trading desk was apparently "fake news" according to their CFO (if I recall correctly), I seriously think this was an attempt from someone associated with Goldman Sachs to artificially deflate the price. This was just a strange situation in general.

Always load up on these dips, do some cost averaging!

[Supercrypt]

The steady, lazy and low bitcoin price movement can tell us all that the bearish market is not yet over.

It's not yet over though bitcoin dominance is increasing. The last time I saw it was only around 53% now its up by 56% and is still increasing.

People usually do not like slow movement, they just simply want the spikes and they have forgotten the same way you will have to see huge spiked to the upward momentum is the same way you can see it in the downward momentum.

I would not say it is a good thing to stay away for a while but the best is to just equip you with enough knowledge to make certain investment decisions through monitoring the trend. This may not that much easier like it sounds here. But other than this, we do nto have any other choices in this mixed trends of market conditions.

I personally believe the market is not done with the down trend and during this time, there would still be some period of long term consolidation as the case may be once we eventually bottom out, so there would still be time. Still at the same time, market will definitely stay stronger and may not break the solid resistances around $5,500 levels. But, may take more time to start its rally toward new ATH.

[Taki]

This 500$ recover of the price means nothing, the fall was over than a thousand and it's too early to say about positive moods of the market till the drop will not be totally recovered and the price will continue its move to the top.

[infonik]

We don't have to worry about the price of Bitcoin, because when he falls, there will always be people taking over (whales, sharks, miners, merchants), because if Bitcoin crashes, they are the biggest victims!

[TravelMug]

Everyone wants to find their own benefit from all situations and this is not surprising.  All people are looking for easy ways to earn money.

As long as you are a smart trader, this break out run and subsequent dips can be profitable as long as you know how it works and has the experienced to profit in an instant.

We don't have to worry about the price of Bitcoin, because when he falls, there will always be people taking over (whales, sharks, miners, merchants), because if Bitcoin crashes, they are the biggest victims!

Don't forgot the majority: speculators. Those are people who FOMO much, and opportunistic. Will always find ways to go with whales to set a trap for inexperienced traders. I know that when the price hits below $6K, its not profitable to miners, but I doubt they have their hands with the sudden jump, it mostly whales, speculators who using bots.

[OrangeSeller]

Big pump for bitcoin is near for sure , waiting is the key to see that, but you need to buy more bitcoin to pump the value of this coin.
But if the people continue to sell their bitcoin that they have maybe instead of seeing again big pump it turn into big dump again and everyone will sacirfice on that because we lost most of our capital. Unity is the best key if they want to have achieve your goal.

People should stop concentrating so much on incoming pump and should rather be seeking for ways in which we will get to see the market become something that is totally not driven by speculation as time goes on.
So far, we have so much been looking at the idea of seeing a pump, making huge profit from it, and right now for most people it is all about the profit than the aspect of it being a currency and that is not something good. We could see an uptrend and we could slightly go higher, but for a bear market that we are still in anyway, I would not be expecting so much.

[OrangeSeller]

In fact, miners also play an important trading role, aren't they? When the decline in Bitcoin affects their interests, they will begin to take over the market and let Bitcoin rebound!

I guess that has been the norm of miners not allowing the market to go lower than what would be paying them as miners. If this goes down, I believe bitcoin mining difficulty will fall, some miners may no longer be able to see it profitable anymore and due to the electricity bills, maintenance and other things, it would be something not worth it for a lot and that could make them just turn off their machines.
According to a Fundstrat Doctor though, he claimed the price at which most miners would really start shutting down their operations is around $3,000 to $4,000 per bitcoin. I guess we have to wait to see how events would unfold.

[maarx]

Don't worry about bitcoin price at any time because if you invest at low price then you can sell at high price in future. Big pop up always happen so don't get panic when price falls. This is common in the crypto world just hold the coins soon big pop comes. When the price is low, make use of the opportunity to gather as many coins as you can and sell them all when the pop up situations arise. I would advice you to hold back until you find a good hike in price. Try to get a good turn over.

[hacekd]

This is what Wall Street call "price discovery". Its the point where they cant suppress the price any longer.

But the issue remains: will it go up from there? Will this bottom go up? Or will the price keeps swinging over it?

We’ve been here so many times this year, and seeing the previous price movement, always a bounce back after hitting this level. Maybe the theory of the OP is right since the support level are strong between the price range of $5k-$6k where buyers and sellers agreed the bottom price. No one can answer your question but as an optimist hodler, Maybe we see a new bottom but I know it will to rise again.

IMO institutional investors have buys just under the $6000 mark. Which is why it's holding above that level. What is missing is retail investors - they've been scared away by the price drop from $20,000 plus all the drama with fees at the end of last year.

this means that there is price manipulation in the market, otherwise how could there be a large enough increase after that back down to the previous price?

[webdevmastery]

As we approached sub $6k and actually hit $5.9k... we see another huge pump to $6400. Impressive, a $500 dollar move up just like that, on a single candle. Someone bought a pretty decent amount of coins.

The theory of how that $5k-6k price range is the diamond solid ground in which miners will never let bitcoin go below is shaping up. Governments want to take the price down and tank it so they can buy it all but someone (maybe rich miners and other whales) keep using that range as the reverse point. Let's see if it holds. We have touched this same point so many times that the theory might be right.

I believe that there will be a huge pop up again because most of the countries today are now legalize to invest on cryptocurrency since there is a huge pump last december before the year ends.

[justspare]

As we approached sub $6k and actually hit $5.9k... we see another huge pump to $6400. Impressive, a $500 dollar move up just like that, on a single candle. Someone bought a pretty decent amount of coins.

The theory of how that $5k-6k price range is the diamond solid ground in which miners will never let bitcoin go below is shaping up. Governments want to take the price down and tank it so they can buy it all but someone (maybe rich miners and other whales) keep using that range as the reverse point. Let's see if it holds. We have touched this same point so many times that the theory might be right.

I believe that there will be a huge pop up again because most of the countries today are now legalize to invest on cryptocurrency since there is a huge pump last december before the year ends.

I wonder where you got that news from with most countries today legalizing cryptocurrency.
The adoption is going in great but just very few countries, have always been adamant to adopting cryptocurrency or even allowing it all and majority are not even saying anything but does not make it illegal, and few have also found a way to legalize and regulate it.

Now, pump or dump should not be a focus of a real believer or investor, they are just ways for some whales to scare the weak hands from the market, and with that, there will always be room for more growth as time goes on. We, the bitcoin community must keep faith and must remain calm in between time rather than listening into FUDs.

[KalaiBTC]

As we approached sub $6k and actually hit $5.9k... we see another huge pump to $6400. Impressive, a $500 dollar move up just like that, on a single candle. Someone bought a pretty decent amount of coins.

The theory of how that $5k-6k price range is the diamond solid ground in which miners will never let bitcoin go below is shaping up. Governments want to take the price down and tank it so they can buy it all but someone (maybe rich miners and other whales) keep using that range as the reverse point. Let's see if it holds. We have touched this same point so many times that the theory might be right.

I believe that there will be a huge pop up again because most of the countries today are now legalize to invest on cryptocurrency since there is a huge pump last december before the year ends.

We are observing pop ups like this many times in this market from the start of this year but these are just for the time being and we will have a great future market like we had been many times in the past. We have to just focus on things to be perfect for us and currently we have only one benefit which is to go forward for more investment so as to get it in large quantity on low price.