[20180914]Back Over $200 Billion:3 Reasons Crypto Prices Could Be Heading Higher

[portalnetwork]

The cryptocurrency market has been making history for all the wrong reasons as of late, most notably by recently surpassing the plunge of the infamous Dot-Com bubble in the early 2000's.

With that said, cryptocurrencies tend to make recoveries when all hope is seemingly lost, and today's price action of the world's second largest cryptocurrency, ether and many others is no exception.

At press time, several of the top 10 cryptocurrencies by market capitalization are reporting 24-hour gains above 10 percent, including monero (XMR), litecoin (LTC), and EOS. Ether (ETH) is leading the pack while boasting a 17 percent price increase. Further, the total market cap has edged back up over $200 billion, after falling lower earlier this week.

Still, it's too early to call any type of long-term bullish reversal in the market, but there are three encouraging signs cryptocurrencies may see much-needed relief at least in the short term.

1) Ether Recovery
Until today, the price of ETH/USD had fallen more than 40 percent since September 5 and 85 percent from its all-time high north of $1,400 set last December.


Today though, tells a different story. Since the low of $167.32 yesterday, price has recovered more than 20 percent reaching a 24-high of $207.67, according to data form the Bitfinex Exchange.

See more: https://www.coindesk.com/back-over-200-billion-3-reasons-crypto-prices-are-heading-higher/

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[Slow death]

since February I hear the same thing: "the price will recover". " soon we will see increase of price". "analyst X predicts that the price will reach X value." "6 reasons people believe that the price will recover". "with ETFs the price will go to the moon." we have to be realistic here, the price will not increase because we do not have much demand, and we are not last year, this is 2018, another year with other rules.

and about this:

2) BTC Short-Term Strength

3) Risk Appetite in Global Markets

I do not see that being a strong reason to say that the price will increase

[Olalomi]

We have read so many interesting articles on reasons why bitcoin will moon this year and so many analysis on how bitcoin is going to attain a new higher high however none these analysis has come to pass, this article is also emphasizing another falacy which had often been said and have not in one way or the other has any correlation with the price behavior.

[hugeblack]

we are not last year, this is 2018, another year with other rules.

We do not have the same factors that accelerated the price hike last year.
There were several hardforks, price manipulations, lots of good news, constant highs, lots of newbies who wanted to make a quick profit "and they got it."
The price is better than the past. It is better to talk about Bitcoin as currency "stable prices" rather than bitcoin as an investment.

[aso118]

Today though, tells a different story. Since the low of $167.32 yesterday, price has recovered more than 20 percent reaching a 24-high of $207.67, according to data form the Bitfinex Exchange.

Even by the extreme short time lines of crypto? Who ever talks about a 24 hour-high? The price hasn't been this high since.... yesterday. There has been some recovery in prices, but it is impossible to draw conclusions from that. I wouldn't be sure that the prices are heading higher.
If anything, it could be a bounce back after a very hard fall in altcoin prices.

[Aikidoka]

We have read so many interesting articles on reasons why bitcoin will moon this year and so many analysis on how bitcoin is going to attain a new higher high however none these analysis has come to pass, this article is also emphasizing another falacy which had often been said and have not in one way or the other has any correlation with the price behavior.

That is because people like to promote the things they support. There also are many other articles that talk about the end of bitcoin or the dump that the bitcoin will experience. I, honestly, do not believe any article or any expert wannabe. I believe in my instinct because if I failed, I would assume my responsibility. I would not blame that article or that expert. But yes, we need to be optimistic about the price. I really believe in bitcoin and I believe that the price will pump.

[rodskee]

Since cryptocurrency start dropping their price in the market cap how many expert predicting for price recovery
Analysis base in the percentage increase comparing last year(2017) bull run
i think this year aren't for the cryptocurrency to got earn profits
I think this year is for the correction fro cryptocurrency
Do not compare the from recent situation because decentralized currency are high volatile movement
So let stay relax wait the when the price gi back into normal

[jjacob]

Since cryptocurrency start dropping their price in the market cap how many expert predicting for price recovery
Analysis base in the percentage increase comparing last year(2017) bull run
i think this year aren't for the cryptocurrency to got earn profits
I think this year is for the correction fro cryptocurrency
Do not compare the from recent situation because decentralized currency are high volatile movement
So let stay relax wait the when the price gi back into normal

I agree. Given the scale of the fall, the recovery could take years and not months. We should be prepared to accept that the cryptocurrency asset class is a very risky asset class.
When the price crashed in 2013, the recovery took 4 years. This time could be no different.

[Kakmakr]

Since cryptocurrency start dropping their price in the market cap how many expert predicting for price recovery
Analysis base in the percentage increase comparing last year(2017) bull run
i think this year aren't for the cryptocurrency to got earn profits
I think this year is for the correction fro cryptocurrency
Do not compare the from recent situation because decentralized currency are high volatile movement
So let stay relax wait the when the price gi back into normal

I agree. Given the scale of the fall, the recovery could take years and not months. We should be prepared to accept that the cryptocurrency asset class is a very risky asset class.
When the price crashed in 2013, the recovery took 4 years. This time could be no different.

Crypto currencies are just too unpredictable to apply one mold to all Crypto currencies in the basket.    You might get one Alt coin that gets some killer application and it might rise above the rest or they might partner with some large eCommerce site and the adoption might go through the roof.

The best thing about this correction is the fact that we are getting a new opportunity to buy some cheap Alt coins and that is brilliant.  I see this correction as a Black Friday type of event, where you get a good opportunity to grab some bargains. 

[timerland]

I honestly do not think that we're going to see a major bullish outbreak for the rest of the year.

Just because we've had a period of relative stability doesn't mean that prices are all of a sudden going to climb drastically by the end of the year. It simply doesn't work like that.

I also do not see the fact that global risk appetite has anything to do with bitcoin being able to get out of this bearish cycle. Because if it does, then the increase in institutional investors should have been enough to see prices rise ages ago.

Much more likely in my opinion to see prices continue to fall or move sideways, until we get closer to the 2020 halving.

[Kemarit]

Since cryptocurrency start dropping their price in the market cap how many expert predicting for price recovery
Analysis base in the percentage increase comparing last year(2017) bull run
i think this year aren't for the cryptocurrency to got earn profits
I think this year is for the correction fro cryptocurrency
Do not compare the from recent situation because decentralized currency are high volatile movement
So let stay relax wait the when the price gi back into normal

I agree. Given the scale of the fall, the recovery could take years and not months. We should be prepared to accept that the cryptocurrency asset class is a very risky asset class.
When the price crashed in 2013, the recovery took 4 years. This time could be no different.

2013 crash is different though, what we can do is learn from the experience. And for those who still hoping for a major break-out this year is still on denial stage, there's no way that we can achieved that same height in 2017. The market has evolved, investors become flexible and smart today. It might takes months or even years for the market to recover at this stage and I don't see anything significant for a long-term bullish reversal. Risk appetite in the global market do exist in a bearish trend as well, but its more pronounced in bullish market.