BITCOIN BULLISH? ON CME BITCOIN EXPIRATION

[stellaekun]

https://i.imgur.com/OudLVoi.jpg



Here is an interesting tweet https://twitter.com/CoinDeskMarkets/status/1034223298970701825 on a possible bitcoin bullish return as bitcoin future on CME , we have already seem significant price movements in the last couple of days, what are your take on this? Opinion.

[Pursuer]

if price breaks above $7k then I would consider it a "significant price movement", otherwise it is still nothing and ignorable. but if we do break it, it becomes more possible to continue this trend at least to $8k prior to ETF rejection and then come back down as silly day traders continue making the market more volatile and that would just postpone $10k target another month.

[rodalutor]

We've already moved to 8k in the last 6 weeks and then fallen back down to 6k so I don't think any movement below that 8k level is really too strong an indicator of a bullish movement. It's promising the price has moved onwards to near 7k but it would be no shock to see it dip back down again to 6k in the coming days. There is always some movement on futures expiration and then we go back to low volume and low volatility until the next round of manipulation.

[arpon11]

Maybe this time the bull run will last long like the way it is last year and we are to buy now that we can still get it cheap.  I find out that for some months now only the margin trader were the one making money from this market and the day traders but investors has been losing.

[BitHodler]

Maybe this time the bull run will last long like the way it is last year and we are to buy now that we can still get it cheap. 

Don't get excited already. We definitely won't be going through another bull run this year, and it's time for people here to understand that for once. Just be happy that we're still above the $6000 mark.

I find out that for some months now only the margin trader were the one making money from this market and the day traders but investors has been losing.

No one is losing as long as people don't sell their coins. If you're solely an investor for the long term, you just have to accept that it's not your time right now. Last year was your time and traders had to step back for a good while.

It was near impossible to sell the top last year. It went from below $1000 all the way to $19,500 and I can remember that so many people sold $6000, $7000, $8000 (and so on) but found themselves in the wrong position.

Last year people didn't know where to sell the top and this year they don't know where to buy the bottom.

[justspare]

[im g]https://i.imgur.com/OudLVoi.jpg[/img]



Here is an interesting tweet https://twitter.com/CoinDeskMarkets/status/1034223298970701825 on a possible bitcoin bullish return as bitcoin future on CME , we have already seem significant price movements in the last couple of days, what are your take on this? Opinion.

As always, whales who try to make money off this made their money already, now they are once again increasing the price by buying bitcoin a bit, than when this expires they will get a new one and they they will just sell their bitcoins causing a drop in the price and panic into people which will result with even lower and they will once again be in profit thanks to price dropping and they having the next short futures on cme market. This has been going for a long time now, we need to get rid of the short futures of cme in order to actually get bitcoin go up, before we get rid of this "short" option, we will never really take off because they won't allow us to do so, they are whales, they will use a lot more force than regular people can on dropping the price.

[Kemarit]

I was out for 3 days and get back to see the price above $7000? What the hell is going on?

Oh well perhaps its just coincide with Tether printing again?

https://cryptoslate.com/bitcoin-rallies-above-6900-tether-fires-up-the-printers/

I don't know about CME bitcoin expiration though, usually the market goes down prior to any bitcoin futures expirations (correct me If I'm wrong).

So let's see how this whole "pump" will turn out in the next couple of days. Clearly some manipulation behind but we just need to ride those wave guys. 

[DMCR lah]

I think bitcoin prices will reach 7500 this month, but I'm not sure the price of bitcoin will continue to increase next month. I'm sure many people are still hesitant to hold.

[BitcoinNewbie15]

I was out for 3 days and get back to see the price above $7000? What the hell is going on?

Oh well perhaps its just coincide with Tether printing again?

https://cryptoslate.com/bitcoin-rallies-above-6900-tether-fires-up-the-printers/

I don't know about CME bitcoin expiration though, usually the market goes down prior to any bitcoin futures expirations (correct me If I'm wrong).

So let's see how this whole "pump" will turn out in the next couple of days. Clearly some manipulation behind but we just need to ride those wave guys. 

I'm thinking we have found the bottom for sure. I was certain that the most recent drop to below $6k would signal that we were heading into a crypto winter, but now that we are above $7k again I think its safe to say that was the bottom. If anything, I think we may head back to $6.5k after the futures expire (you are correct, market usually dumps after) but not much lower than that IMO. We could be on the path to a slow and steady rise back to $15k over the next year or two, and then a massive pump after the halving in 2020.

[hugeblack]

if price breaks above $7k then I would consider it a "significant price movement", otherwise it is still nothing and ignorable. but if we do break it, it becomes more possible to continue this trend at least to $8k prior to ETF rejection and then come back down as silly day traders continue making the market more volatile and that would just postpone $10k target another month.

This time the rise is different from what happened at the end of last month.
It was a significant gain in a short period due to expectations of ETF's acceptance.
Now the increase is slow moving, so it is unlikely because an external influence but rather to create a new stability point of demand and supply

[El duderino_]

Maybe this time the bull run will last long like the way it is last year and we are to buy now that we can still get it cheap. 

Don't get excited already. We definitely won't be going through another bull run this year, and it's time for people here to understand that for once. Just be happy that we're still above the $6000 mark.

I find out that for some months now only the margin trader were the one making money from this market and the day traders but investors has been losing.

No one is losing as long as people don't sell their coins. If you're solely an investor for the long term, you just have to accept that it's not your time right now. Last year was your time and traders had to step back for a good while.

It was near impossible to sell the top last year. It went from below $1000 all the way to $19,500 and I can remember that so many people sold $6000, $7000, $8000 (and so on) but found themselves in the wrong position.

Last year people didn't know where to sell the top and this year they don't know where to buy the bottom.

for long term hodlers this are all bottoms..... if you buy 6k or 5k or 3k what is the diffrence if you go for + 50-60 -100k and keep a few for even longer     every discount from here looks good to buy

[EdenHazard]

if price breaks above $7k then I would consider it a "significant price movement", otherwise it is still nothing and ignorable. but if we do break it, it becomes more possible to continue this trend at least to $8k prior to ETF rejection and then come back down as silly day traders continue making the market more volatile and that would just postpone $10k target another month.

so do i , think that the resistance are on $7-$8k level . break it out and brace yourself for a shocking bounce soon. last time CME future trading bring a huge effect in crypto market , push the price more than 80% and the rest of it make bitcoin bubble.

now some people try to connect things to relevant factor such as this cme , i won't expect much, just keep watching.

[boyptc]

Few more days before this month ends and there has been good speculations that has been broadcast on media so that's one factor.

[rodalutor]

if price breaks above $7k then I would consider it a "significant price movement", otherwise it is still nothing and ignorable. but if we do break it, it becomes more possible to continue this trend at least to $8k prior to ETF rejection and then come back down as silly day traders continue making the market more volatile and that would just postpone $10k target another month.

This time the rise is different from what happened at the end of last month.
It was a significant gain in a short period due to expectations of ETF's acceptance.
Now the increase is slow moving, so it is unlikely because an external influence but rather to create a new stability point of demand and supply

I wouldn't put too much weight in to that, we saw the same thing around late June to early July when the price climbed from around 5800 to 6800 at a slow steady pace with no obvious reason only to then drop again sharply back to 6k.

[raven7886]

if price breaks above $7k then I would consider it a "significant price movement", otherwise it is still nothing and ignorable. but if we do break it, it becomes more possible to continue this trend at least to $8k prior to ETF rejection and then come back down as silly day traders continue making the market more volatile and that would just postpone $10k target another month.

Right, a little bit above $7k will actually make it a little bit more appealing but for now, I really do not expect much. As long as we are still below $8k most especially, then the bears will still have an upper hand.

For now, I guess we will have to wait to see how the market is going to be acting in some few days from now and if we are going to fall below the rising wedge anytime soon. I still feel we are still a lot bearish and would not want to pay too much attention on how some are already beginning to call moon.

[bobo012]

if price breaks above $7k then I would consider it a "significant price movement", otherwise it is still nothing and ignorable. but if we do break it, it becomes more possible to continue this trend at least to $8k prior to ETF rejection and then come back down as silly day traders continue making the market more volatile and that would just postpone $10k target another month.

Right, a little bit above $7k will actually make it a little bit more appealing but for now, I really do not expect much. As long as we are still below $8k most especially, then the bears will still have an upper hand.

For now, I guess we will have to wait to see how the market is going to be acting in some few days from now and if we are going to fall below the rising wedge anytime soon. I still feel we are still a lot bearish and would not want to pay too much attention on how some are already beginning to call moon.

I agree with you. As long we are under 7800 dollars we are not out of the woods yet. Bears are stalking and we must be careful. In the longer time frame it will be irrelevant as the bears will eventually be gone, just a matter of months or a few years, that i dont know

[sunanbonang]

I doubt this, but the price of bitcoin has lost its impetus and the pump only makes the price of bitcoin to $ 7k. now the price of bitcoin is back down, I'm afraid something worse will happen.

[stellaekun]

if price breaks above $7k then I would consider it a "significant price movement", otherwise it is still nothing and ignorable. but if we do break it, it becomes more possible to continue this trend at least to $8k prior to ETF rejection and then come back down as silly day traders continue making the market more volatile and that would just postpone $10k target another month.

I am happy we are making progress, we have move past 7200$ and seem the momentum is still strong, It is still too early to call it a bull run anyway

[Pursuer]

if price breaks above $7k then I would consider it a "significant price movement", otherwise it is still nothing and ignorable. but if we do break it, it becomes more possible to continue this trend at least to $8k prior to ETF rejection and then come back down as silly day traders continue making the market more volatile and that would just postpone $10k target another month.

so do i , think that the resistance are on $7-$8k level . break it out and brace yourself for a shocking bounce soon. last time CME future trading bring a huge effect in crypto market , push the price more than 80% and the rest of it make bitcoin bubble.

now some people try to connect things to relevant factor such as this cme , i won't expect much, just keep watching.

another way of looking at it however, is that you can see bitcoin currently underpriced. something that they refer to as "inverse bubble" in the market. in which case even a 80% rise which will only bring the price to a little above $10k is not going to create a bubble, it will only remove the inverse bubble and bring bitcoin back to its real value.
although that is debatable and some people would disagree with this but I do believe BTC is underpriced right now.

[YuginKadoya]

if price breaks above $7k then I would consider it a "significant price movement", otherwise it is still nothing and ignorable. but if we do break it, it becomes more possible to continue this trend at least to $8k prior to ETF rejection and then come back down as silly day traders continue making the market more volatile and that would just postpone $10k target another month.

I am happy we are making progress, we have move past 7200$ and seem the momentum is still strong, It is still too early to call it a bull run anyway

Yup it is pretty early to call it a bull run and it may still end up in a bounce, And once it reach a favorable price we can sure see another down fall, We can say that it is just a regular movement for bitcoin, As of now we can see that some Altcoins are already bouncing back, Even though we can not see bitcoin drop of It is still early to predict another bull run can occur again, And actually I am predicting we can not see another bull run this year soon.