Is this another bulltrap?

[Bonheur]

I think yes.For the past months whenever there is some upwards movement everyone I know shouts "bull". Whenever they see some green in the market bitcoin and alts altogether they think the bull market is back, and they will get rich.I am new in this game but I learned that whenever everyone thinks something is happening the opposite happens in this market.I will be very cautious.And I hope everyone will be too.

[pooya87]

it depends on what you mean by "everyone"!

for example if you hang out in places filled with idiots and trolls such as Twitter, Telegram, and other groups of  pump groups, Youtuber idiots making dumb videos, steemit spammers trying to make money, trolls in speculation board and generally on bitcointalk specially in altcoin board,... then obviously you only see dumb statements that will always be  wrong. and 90% of them are from bag holders who see a small rise and want their shitcoins to be pumped so they start hyping.

but if you ignore all those and hang around in better circles, for example if you check out tradingview, see some others on speculation board,... you will see that things are very different than what you experienced so far. i am not saying they will be 100% accurate, that is just impossible but at least it wouldn't be "talking out of their asses"...

[BitcoinNewbie15]

I mean, realistically there is a possibility of this being a bull trap, but I would say it's likely that it is not. I think we have hit the bottom for sure this last time we dipped below $6k. It appears that's where people refuse to sell their BTC at those prices and buyers are there to buy those discounted coins. I think it's safe to say we will have a slow and steady rise back above $10k over these next few months, bullish outlook IMO.

[Gaurav11kb]

it depends on what you mean by "everyone"!

for example if you hang out in places filled with idiots and trolls such as Twitter, Telegram, and other groups of  pump groups, Youtuber idiots making dumb videos, steemit spammers trying to make money, trolls in speculation board and generally on bitcointalk specially in altcoin board,... then obviously you only see dumb statements that will always be  wrong. and 90% of them are from bag holders who see a small rise and want their shitcoins to be pumped so they start hyping.

This is totally true. I have been there on those places mentioned above and everyone is just shouting out of their asses that bulls are back. They all are already millionaires who have bought most of their initial followers. They have all the bags of shitcoins and when they say that bulls are back and this coin is good, then all the dumb followers buy those shitcoins, resulting in increase of their prices and then those so called experts sell their bags, making big profits and all the dumbass followers gets fucked.

[leoric251]

I wish not, alot of investors really is scared when it comes to august, they call it ghost month, so i wish we bounce back up again in december .

[Kakmakr]

I always look for the good news when I see "green" and I cannot see the good news that are driving this optimism in the Bitcoin market. The slightest price increase does not bother me, because I am not planning to sell before we reach the Moon, but I have to advise friends and family who might want to buy or sell.

No Good news + Price increase = Bullshit. ^Ooops^

[xuan87]

I will be very aware, few times when the situation become green then the next day the price got corrected pretty bad, and this time I am a bit pessimistic because the price go up without any good reason, but let's hope that the investors get together and put some funds in Bitcoin to make the price go up and could pierce through the resistance

[johnwest]

It became very common these days for fools to shout "bull" and "bear". Just ignore them. Do your own research and understand the concepts of market. We all want the bull market at this moment and we may see one soon but the market is still fluctuating and there will never be a definite signal.

[davis196]

Yes,it's a bull trap set by the crypto whales in order to make some short term profits.Some newbies might believe that this is a bull trend and start buying btc,but the whales will start selling their btc at the higher market price and pushing the price down,so they could buy back at a lower price later.
That's how the whales are "pulling" money from the newbies.

[hugeblack]

No Good news + Price increase = Bullshit. ^Ooops^

This equation depends on the amount of the increase. The rise of 1% to 5% does not require any external incentives but comes from supply and demand.
The price moved at a reasonable level "7000$" with slight gains "less than 6%", which means growth in demand rather than optimism leading to correction in a short time.
I do not expect to see $ 6,000 soon, but this optimism is in the absence of bad news and negative influences "regulation, ban, and altcoins dump."

[charlotte04]

I think yes.For the past months whenever there is some upwards movement everyone I know shouts "bull". Whenever they see some green in the market bitcoin and alts altogether they think the bull market is back, and they will get rich.I am new in this game but I learned that whenever everyone thinks something is happening the opposite happens in this market.I will be very cautious.And I hope everyone will be too.

Maybe, but the daily chart of Bitcoin is apparently bullish. So it may give you some good profits with a higher margin for this time. I already took this opportunity and it went well.

[TheUltraElite]

I dont understand what is wrong with people. A few days ago social media was full with "Bitcoin is dying" and "Last dump of bitcoin and bitcoin dead" and now today when the market is green people are calling it a bulltrap. You people have no patience and neither do you all do any sort of analysis on the market before jumping into conclusions based on what people sepculate.

If it is a bulltrap then let it be so. Who cares? The market is green after some time now and people are rejoicing. But this one might not last long since we know some newbie bought coins at the 7.5k USD mark and they will be shorting their coins soon. So yeah it might drop soon.

[towi078]

It seems like people like me still have a lot to learn about the crypto market. So as not to get stuck on the wrong prediction 

[max1616]

Nobody in the world knows when the bullrun will come..Maybe there will never be bullrun..Everyone is just guessing..These estimates are usually made in the way we want it to happen.

[lizardbtc]

I always look for the good news when I see "green" and I cannot see the good news that are driving this optimism in the Bitcoin market. The slightest price increase does not bother me, because I am not planning to sell before we reach the Moon, but I have to advise friends and family who might want to buy or sell.

No Good news + Price increase = Bullshit. ^Ooops^

What is moon to you? The way I look at it we can all just hodl our coins and never use them/sell them because we are waiting for the moon. So do you have any year in mind like in 10,20,30years or some price point? Or even you are waiting for the moment to use BTC not sell it when price gets till some level that you like? I don't think that crypto would be the best place forever where you can invest your money and trade alts back and forth to accumulate more.

[cok_elat]

if there is an increase in bitcoin prices like today, you need to be careful because you still haven't experienced a breakout, don't rush to make a decision to buy or sell it

[Qeupe]

I think yes.For the past months whenever there is some upwards movement everyone I know shouts "bull". Whenever they see some green in the market bitcoin and alts altogether they think the bull market is back, and they will get rich.I am new in this game but I learned that whenever everyone thinks something is happening the opposite happens in this market.I will be very cautious.And I hope everyone will be too.

Interesting, when crypto falls some people are very impatient to wait for a jump and when crypto goes up some people also try to drop it and call it bulltrap, then what kind of bull is not considered a trap?
This slight increase is indeed quite controversial but I think I am on the right side, because I am not affected by this slight increase and wait for a big jump until the end of the year.

[NeuroticFish]

The fact it had 2 big pumps out of the blue is indeed quite strange.
On another hand, after each buy the price kept that level, didn't move much, no big dumps happened, so the market is suddenly comfortable with the new price range which I also find strange.

It is a bull trap? May be...

[jseverson]

I think yes.For the past months whenever there is some upwards movement everyone I know shouts "bull".

Someone also usually asks if it's a bull trap lmao.

But yeah, I try not to buy into traditional investment terms being used in crypto, but it most likely is. This bear market isn't as bad as past ones, but they typically lasted around a year (or more after Mt. Gox), so I expect it to run about as long. Another thing to note is that Bitcoin prices typically run on hype, and we haven't really had any except for a few days of $8k ETF optimism.