Is Bitcoin surge overnight sustainable?

[Abeleez]

Friends in the community, do you believe the surge upward that happened Will be sustained?
https://www.ccn.com/bitcoin-surges-8-overnight-in-corrective-rally-potential-full-reversal/

[1715630290]

1715630290

[NeuroticFish]

Friends in the community, do you believe the surge upward that happened Will be sustained?
https://www.ccn.com/bitcoin-surges-8-overnight-in-corrective-rally-potential-full-reversal/

Most probably it's driven by the news about Nasdaq/VanEck partnership. There's a chance to at least stop falling for a while because of that.
What's going on a larger horizon than a day? It can be anything. There was no clear reason for all this under 6k fall anyway, so a comeback could be just the next meaningful thing to happen.

[Oniko]

No, after a 7-10% increase, Bitcoin will drop to $ 2,000.

I think this is inevitable and will happen in 2018.

Further growth will be during the whole 2019

[baricuri]

No one can predict anything, so you should consider before investing in the market now, because coins are now risky and may give you big surprise or failure. So I will never dare invest in this market again.

[baconlike]

No, electronic money is never sustainable, if they are sustainable they will be ok but it will be difficult to value them sustainably. So I think you should reconsider when deciding to invest

[Cnut237]

Friends in the community, do you believe the surge upward that happened Will be sustained?
https://www.ccn.com/bitcoin-surges-8-overnight-in-corrective-rally-potential-full-reversal/

No-one knows, and since the market is driven mostly by speculation, it's difficult to determine what will happen as any small movement tends to get amplified.

Whilst it is a surge in percentage terms, it's only an increase of a couple of hundred dollars - which would have been barely a blip this time last year... so  price movements may look big, but in real terms they're quite small.

[smoolae]

Have a look at the fast uptrends we have had this year. The longest one lasted about a month - it started on 7th of April and ended on May 6th.
With those sudden overnight rises, you never know. They can come to an end within a few days, last for a month or even reverse the overall market situation from bearish to bullish.

We have had those out-of-nowhere climbs throughout the 2018 and all of them have yet failed. The possibility for this one to really get sustainable, from the knowledge and data we have gathered this year, seems slim. But you never know...

[frchowe214]

Normally the speed at which it moves in one direction matches the speed of where it goes in the opposite direction. The recent dump went down very low and very fast. Therefore we can expect a swift recovery

[tomahawk9]

We'll have to wait a few more days to actually see where this bounce is gonna take us. It might be a little too early to say that this is a glimpse of a possible reversal, I think we haven't found the real bottom yet so prices could definetely go down. But if there's momentum that can carry this upward movement for a bit longer, then it's possible that we're on the verge of some bullish movements very soon.

[DaMut]

No, after a 7-10% increase, Bitcoin will drop to $ 2,000.

I think this is inevitable and will happen in 2018.

Further growth will be during the whole 2019

I do not want to believe it, but mind to tell me. Based on what you could say that Bitcoin will drop to $2000? Right now, the miners are hesitating whether they keep mining it or not because of the loss that they get when operating their machines to mine Bitcoin or any cryptocurrency right now.
If the price goes to that low later on, does not that mean there will be no miners that will mine it again in the future? And I am completely sure, none of us wish to see that right?

[TwSeventh]

Normally the speed at which it moves in one direction matches the speed of where it goes in the opposite direction. The recent dump went down very low and very fast. Therefore we can expect a swift recovery

What does that mean by it went down very low and very fast? based on Bitcoinwisdom.com, its total volume is large enough compared to recent pump that we got.
Does not that mean it was moving very fast with high volume? and, I heard we got a good news from Venrick? that was why the price is increased a lot from before.
It has nothing to do with its marching speed, I guess.

[Idrisu]

Friends in the community, do you believe the surge upward that happened Will be sustained?
https://www.ccn.com/bitcoin-surges-8-overnight-in-corrective-rally-potential-full-reversal/

The market is been manipulated by traders and to me the surge might not been sustain.  We should expect serious recovery by next year and most big investors are selling off and maybe by next year come back into the market.  I think what happened last year may not repeat itself this year again.

[poodle63]

Friends in the community, do you believe the surge upward that happened Will be sustained?
https://www.ccn.com/bitcoin-surges-8-overnight-in-corrective-rally-potential-full-reversal/

Most probably it's driven by the news about Nasdaq/VanEck partnership. There's a chance to at least stop falling for a while because of that.
What's going on a larger horizon than a day? It can be anything. There was no clear reason for all this under 6k fall anyway, so a comeback could be just the next meaningful thing to happen.

Not only this one but i still remember in the past news there was an article that explain why SEC is not considering bitcoin as security. I thought that hashrate war was enough to create a big panic sell to the market.

[Leah38]

Good day! There's been some pumps on some alts when I traded last night. But due to the drop of bitcoin value, I feel I haven't earned anything. Bitcoin recovered a bit but not enough and I'm afraid It will even bounce back hard. So much on the news but not good enough to push bitcoin price up.

[SamboNZ]

Many factors can affect movement in the market. It can be anything since the market is so unpredictable and no one knows what exaxtly what will happen on the future. One thing is for sure and that is the market surprising us in any ways.

[Partisson]

No one can predict anything, so you should consider before investing in the market now, because coins are now risky and may give you big surprise or failure. So I will never dare invest in this market again.

I agree with your opinion that the crypto market will be very difficult to predict because the situation fluctuates, especially when crypto's market prices are still below, being careful in investing or looking for projects is currently a lot of scam projects.

[prabakharras]

what goes up must come down
slow adoption and growth is what makes is sustain even better
https://www.coingecko.com/en/global_charts

[Jonking]

no its sustainable, if there is big news there are chances to go up more otherwise price will fall down

[BUK2016]

The momentum was unable to sustain the level at which is reached and am sure that the current market increase may not sustain the height for a long time period. Although, it is a matter of time  before end of this year Bitcoin market value will move higher that people will surprise.