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Author Topic: Bitcoin Price Breaks $7,000 After 4% Gain, Crypto Market Adds $12 Billion  (Read 150 times)
Kemarit
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August 29, 2018, 05:40:24 PM
 #21

Do you have any news on what was the catalyst for this switch to a bull market?
We've been in the accumulation phase for quite a while, it was a matter of time before the bulls triggered a new btc rally. Still, it's too early to say if we're currently in a bull market, though if the 7k holds for a few days or more, a bullish trend might kick in very soon.

We only need to stay above the the last resistance level, or at least around the 7k levels if we want to see some bullish movements in the upcoming days/weeks.



Right, accumulation or consolidation in the last 3 weeks or so. That's why if everyone have noticed, bitcoin is trading sideways, indicative that something is brewing, - either bullish or bearish. Glad though that the we make a sudden break out and see the price goes to $7K at this moment. So it means that a new trend has emerge and its going to be interesting to see in the coming days if this trend's gonna hold or break apart again.

I'm still not completely sold on this sudden increase in the price, so I find it hard to say that a new trend has started, just my opinion. It just looks like we're at the mercy of the whales, and it seems like some whales don't want to see 7k just yet.

We just a dump which took us from 7100 to the high 6.9k, looks like we're gonna test the 7k barrier again, hopefully, this time it'll hold for a few more days so we can continue that slow uptrend movement.

Exactly, I don't think that it will hold at $7000 because some are pushing the sell button. So I wouldn't call this a new trend, but market manipulators are playing us again, Might be a bull trap or something so I'm not expecting any sharp growth unless we break th resistance on $7000 and move past $7300 at least. Need more time to see where the price will take us again, its barely end of the month, but at least it will be good entering September around the $6900-$7000 price range.

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August 30, 2018, 12:32:47 AM
 #22

Do you have any news on what was the catalyst for this switch to a bull market?
We've been in the accumulation phase for quite a while, it was a matter of time before the bulls triggered a new btc rally. Still, it's too early to say if we're currently in a bull market, though if the 7k holds for a few days or more, a bullish trend might kick in very soon.

We only need to stay above the the last resistance level, or at least around the 7k levels if we want to see some bullish movements in the upcoming days/weeks.



Right, accumulation or consolidation in the last 3 weeks or so. That's why if everyone have noticed, bitcoin is trading sideways, indicative that something is brewing, - either bullish or bearish. Glad though that the we make a sudden break out and see the price goes to $7K at this moment. So it means that a new trend has emerge and its going to be interesting to see in the coming days if this trend's gonna hold or break apart again.

I'm still not completely sold on this sudden increase in the price, so I find it hard to say that a new trend has started, just my opinion. It just looks like we're at the mercy of the whales, and it seems like some whales don't want to see 7k just yet.

We just a dump which took us from 7100 to the high 6.9k, looks like we're gonna test the 7k barrier again, hopefully, this time it'll hold for a few more days so we can continue that slow uptrend movement.

Exactly, I don't think that it will hold at $7000 because some are pushing the sell button. So I wouldn't call this a new trend, but market manipulators are playing us again, Might be a bull trap or something so I'm not expecting any sharp growth unless we break th resistance on $7000 and move past $7300 at least. Need more time to see where the price will take us again, its barely end of the month, but at least it will be good entering September around the $6900-$7000 price range.


if not have bad news before ETF maybe in next month can hit 8k.

but i think it going around 7.5K and drop down
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August 30, 2018, 02:47:14 AM
 #23

many people are happy with the increase in bitcoin prices, including myself. but I'm still not too sure if the price of bitcoin is fully recovered. Bitcoin prices can go down anytime  Roll Eyes
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August 30, 2018, 07:08:46 AM
 #24

Bitcoin is making some connections now and we do expect a resumption of  bullish trend very soon as the volume are increasing. Trading activities are also increasing across most of the major exchanges and we hope to see more positive events before end of the year.

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August 30, 2018, 07:18:41 AM
 #25

Yes, although Bitcoin has begun to rise gradually, its price will always start to rebound whenever Bitcoin approaches $7000. Can anyone explain why?

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August 30, 2018, 01:50:53 PM
 #26

many people are happy with the increase in bitcoin prices, including myself. but I'm still not too sure if the price of bitcoin is fully recovered. Bitcoin prices can go down anytime  Roll Eyes

BTC drop down too fast  today drop to 6.8K
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August 30, 2018, 02:32:45 PM
 #27

many people are happy with the increase in bitcoin prices, including myself. but I'm still not too sure if the price of bitcoin is fully recovered. Bitcoin prices can go down anytime  Roll Eyes
Increasing and decreasing is normal for cryptocurrency. We should feel excited and believe in the market because of the tendency to go up every day. Looking at the market today there has been a slight correction and prices are dropping by 3-5%. But in the next few days I am sure the market will continue to grow and green


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Kemarit
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August 30, 2018, 03:20:23 PM
 #28

many people are happy with the increase in bitcoin prices, including myself. but I'm still not too sure if the price of bitcoin is fully recovered. Bitcoin prices can go down anytime  Roll Eyes

BTC drop down too fast  today drop to 6.8K

So it means that the $7K didn't hold, day traders take advantage of the situations and manipulators doing their thing again. Yesterday I said that it might be a bull trap so its probably is. Now, the only thing to do is see if this market will react differently, or will it panic causing it to go back down around $6500. So sorry to say but its a false positives and no imminent bull run is on the horizon. To be fair though, its not just bitcoin who went down today, but all coins as well. Not a good indication.  Smiley

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