Bitcoin Gradually Increased in Price in September, Case for a Bull Run in 2018

[oksgvardukraine2018]

Bitcoin Gradually Increased in Price in September, Case for a Bull Run in 2018

Since early September, the price of Bitcoin has gradually increased from $6,100 to $6,550, testing the $6,800 resistance level on two occasions.

Bitcoin experienced four dips in its price in the past 30 days and every consecutive drop in the price of the asset stabilized in a higher region than its previous decline in value.

On Sept. 9, the price of Bitcoin dropped to around $6,100 during its first fall in the month. On Sept. 16, a week after the initial drop followed by a corrective rally, the price of Bitcoin dropped to $6,250, at a higher point than its previous drop at $6,100.
On Sept. 26, around 10 days after the second dip, the price of BTC dropped to $6,400, $150 higher than the region BTC fell to on Sept. 16. On Oct. 4, it’s latest minor drop in price, Bitcoin dropped to the higher region of $6,400.

Is Bitcoin Undergoing a Gradual Recovery?
Given that Bitcoin has seen the $6,000 support level strengthen and the momentum of the asset at the $6,550 mark intensify, it is entirely likely that the asset will continue to engage in a gradual recovery throughout October.

A rapid increase in price from $6,000 to a higher region like $7,000 and $8,000 in the short-term, similar to its movement from $6,800 to $8,000 earlier this year, is not likely due to the decline in its volume.

On October 6, CCN reported that the volume of Bitcoin fell from $4 billion to $3.2 billion on Coinmarketcap and from $2.6 billion to $2 billion on ShapeShift’s CoinCap.io, suggesting that an exponential increase in price of Bitcoin is not in play in the short-term.

https://www.ccn.com/bitcoin-gradually-increased-in-price-in-october-case-of-a-bull-run-in-2018/

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[Pursuer]

someone needs to tell "ccn.com" that they shouldn't try so hard to publish news about bitcoin price when the things they publish are this weird and nonsensical. the funnier thing is there is another article by them calling the same rise "unexpected" in other words they don't even have consistency

it is not a gradual rise or recovery at all when price keeps meeting the same upper and lower price levels at $7k and $6k respectively. it is called fluctuating between these prices. this may be considered a signal for an upcoming rise close by but only because this seems like an accumulation phase not because it went up 1% but still is below the resistance line.

[NeuroticFish]

Instead of looking at the news, look at the charts. September started with a big dump (Sep 5) from some 7400 to some 6300. Since then the market tried some sort of ultra slow recovery, but we are far from anything significant.
An average "rise" from 6300 to 6500 (6600?) in a month, after such a drop, is not really a joy and it's certainly far from calling it a bull run.

[BitcoinHodler]

Instead of looking at the news, look at the charts. September started with a big dump (Sep 5) from some 7400 to some 6300. Since then the market tried some sort of ultra slow recovery, but we are far from anything significant.
An average "rise" from 6300 to 6500 (6600?) in a month, after such a drop, is not really a joy and it's certainly far from calling it a bull run.

the important thing to look at is the size of the rise not the numbers. of course when you say rise to six thousand and six hundred dollars it seems like a huge number and a huge rise but if you look at the size of it you can see that it was a tiny 4-5% rise.

[ambisyon]

In my observation, I think there is no significant sign of btc to make a bullish market as this is still stagnant within the $6.5 level where I believe correction might have just a longer time to make a change in the market scene. If btc could start to make a pump with a difference of $1K within the next month,  that could be a start of the bullish market that everyone is expecting.

[fudster]

The mind believes what it wants to believe. It kinds like how they write "In god we trust" when all the troubles are going on into their lives. But when it comes to crypto, the mind can sometimes bend the graft and its moving averages to make it look there is an uptrend when in fact the spike up is focused in just an hour of bullish yet the 24hours is all bears.

[tomahawk9]

The media just keeps creating hype out of thin air, just look at the headline with the word "Bull run". And how can you call $6,100 to $6,550 a recovery when we've the price has been fluctuating in those levels for months? If anything it's just a really smal increase (like 4%?) that doesn't merit any type of discussion as we see those price movements in the market all the time. I would call it a gradual recovery when we break through the 7k levels.
 
All in all, everyone in the cryptoshere should lower their expectations, chances to see another bull run are very low right now, no matter how unpredictable this market can be.

[shamc]

Not really a bull run, just minor movements hovering around the $7k area. This limited volatility is good for bitcoin so there is nothing to worry about if there is no bull run just yet, it means there is a better chance for the ETF

[zhekinsp]

Doesn't look like there will be a bull run since the market is going in gradual phase so people won't make much profits by investing now so there needs to be some catalyst which can make the price movements more range so people will be interested in money making and also more new people will come to invest.

[cryptocrusher]

It's more important to figure out what's been going on within the market over that period than just looking at month beginning and month end in isolation. The price has been bouncing around between 6000 and 6700 for the whole month. Just because it started low and ended high doesn't mean anything, it will quite likely be back down again in a few days before rebounding again within the range.

[1Referee]

someone needs to tell "ccn.com" that they shouldn't try so hard to publish news about bitcoin price when the things they publish are this weird and nonsensical.

Why not? It's just a news outlet doing what it should be doing, which is publishing as much mainstream rubbish as they can to boost their clicks and ad revenue.

This limited volatility is good for bitcoin so there is nothing to worry about if there is no bull run just yet, it means there is a better chance for the ETF

I honestly don't think there is anything right now that will be able to satify the SEC to approve an ETF. They will continue to wipe every proposal (regardless of who's backing it) off the table in an instant. I'm perfectly fine with that since we don't need an ETF to increase, just patience so that the market can bottom out and consolidate.

In the end, the SEC isn't stupid. They know what happened with the futures and the same will happen with an ETF announcement. I don't think they're willing to let a similar scenario happen again in the forthcoming years.

[davis196]

The media just keeps creating hype out of thin air, just look at the headline with the word "Bull run". And how can you call $6,100 to $6,550 a recovery when we've the price has been fluctuating in those levels for months? If anything it's just a really smal increase (like 4%?) that doesn't merit any type of discussion as we see those price movements in the market all the time. I would call it a gradual recovery when we break through the 7k levels.
 
All in all, everyone in the cryptoshere should lower their expectations, chances to see another bull run are very low right now, no matter how unpredictable this market can be.

This isn't even hype.It's some shitty clickbait article.There are hundreds of such articles about crypto prices published everyday.This is not a market analysis.It's sole purpose is to drive clicks and traffic(and ad revenue) to that website( ccn.com).Sometimes I feel that people are copy pasting those articles.They look so similar to each other.
Anyway,the bitcoin price isn't moving anywhere.It will stay between 6000-6800 USD for a long time.

[Pursuer]

someone needs to tell "ccn.com" that they shouldn't try so hard to publish news about bitcoin price when the things they publish are this weird and nonsensical.

Why not? It's just a news outlet doing what it should be doing, which is publishing as much mainstream rubbish as they can to boost their clicks and ad revenue.

well that is now what "news" should be like. and when they are publishing something that looks like "analysis" and "speculation" then it definitely shouldn't be like this. and if they do it then we shouldn't be calling them "news site" and quoting them here! I mean these sites are worst that signature spammers on bitcointalk!

[adaseb]

Yes but why do you think the volume is low? Its most likely due to the fact that there are no sellers left in the market.

Most people either already took profits, took a loss, or are just hodling their BTC.

The trading we are seeing is mostly margin and derivative trading like on Bitmex, which has little effect since people did not deposit their coins into the exchange and actually withdraw fiat, its just for speculation.

[arpon11]

The bitcoin price has been stable through out September 2018 and like you said is like a build up for bullish trend and we should not hesitate to invest now and makes money in future.  Cryptocurrencies market is going to recover but it might not be like it was in 2017.

[Dodoymabs]

The bitcoin price has been stable through out September 2018 and like you said is like a build up for bullish trend and we should not hesitate to invest now and makes money in future.  Cryptocurrencies market is going to recover but it might not be like it was in 2017.

We are now at the last quarter of the year and we still didn't see any big pump and been almost stable at the price of $5k-$6k. With so many things happen for the last 3 quarters, still cryptocurrencies continue to fight to stand still.

[raven7886]

Instead of looking at the news, look at the charts. September started with a big dump (Sep 5) from some 7400 to some 6300. Since then the market tried some sort of ultra slow recovery, but we are far from anything significant.
An average "rise" from 6300 to 6500 (6600?) in a month, after such a drop, is not really a joy and it's certainly far from calling it a bull run.

It is not really a joy actually, but we know the market will have to develop on its own actually. The thing with this market is that moving in a sideways is not actually bad and that shows that the bulls are really trying hard to want to get back in, but we all know after a huge bear trend and a bear trend which I still believe is on unless we see the trend change, the bears will obviously not give up without a fight which is what we are seeing now.

At least, it is a good thing to have seen the bull keep the $6k region as a very good support looking at the bounces we have had in the past few weeks, and I believe we might actually have a chance up even if it is in the short term, but all these is something that the market and chart will obviously have to tell us based on what we see.

[ausbit]

Bitcoin Gradually Increased in Price in September, Case for a Bull Run in 2018

Since early September, the price of Bitcoin has gradually increased from $6,100 to $6,550, testing the $6,800 resistance level on two occasions.

Bitcoin experienced four dips in its price in the past 30 days and every consecutive drop in the price of the asset stabilized in a higher region than its previous decline in value.

On Sept. 9, the price of Bitcoin dropped to around $6,100 during its first fall in the month. On Sept. 16, a week after the initial drop followed by a corrective rally, the price of Bitcoin dropped to $6,250, at a higher point than its previous drop at $6,100.
On Sept. 26, around 10 days after the second dip, the price of BTC dropped to $6,400, $150 higher than the region BTC fell to on Sept. 16. On Oct. 4, it’s latest minor drop in price, Bitcoin dropped to the higher region of $6,400.

Is Bitcoin Undergoing a Gradual Recovery?
Given that Bitcoin has seen the $6,000 support level strengthen and the momentum of the asset at the $6,550 mark intensify, it is entirely likely that the asset will continue to engage in a gradual recovery throughout October.

A rapid increase in price from $6,000 to a higher region like $7,000 and $8,000 in the short-term, similar to its movement from $6,800 to $8,000 earlier this year, is not likely due to the decline in its volume.

On October 6, CCN reported that the volume of Bitcoin fell from $4 billion to $3.2 billion on Coinmarketcap and from $2.6 billion to $2 billion on ShapeShift’s CoinCap.io, suggesting that an exponential increase in price of Bitcoin is not in play in the short-term.

https://www.ccn.com/bitcoin-gradually-increased-in-price-in-october-case-of-a-bull-run-in-2018/

It has been like this for 4 months and not just september. Price has always been going up to 7k+ levels and than going back down for the past 4 months. This is not special for september, I do not want to start a FUD about the price because it is a great thing that price doesn't go below 6k levels anymore and created a solid foundation for itself at 6k which means it will only go up so I am still bullish on bitcoin but this doesn't mean there is something special cooking up just because the price has been steady for september, same happened during summer yet nothing happened, maybe it will skyrocket maybe it will stay stable who knows.

[Don Pedro Dinero]

It looks like the opposite way. Money is getting out of the stock market and crypto markets. If both markets keep going together, we are still to see a record low this year, as the S&P 500 was overinflated and it seems ready to blow.

[jrrsparkles]

Not really,all the gradual increase of the bitcoin prices comes to the $6500 again in few minutes today so it is clear that there will be no bull run in the near future.The recovery will be much longer so keep holdinh your coins much longer guys!