[2018-11-28] Back Over $4K: Bitcoin’s Price Bounce is Gathering Pace

[Lmaooo]

While the bitcoin (BTC) market is still predominantly bearish, seller exhaustion near $3,500 may be paving the way to stronger corrective bounce.

The largest cryptocurrency by market capitalization printed a 14-month low of $3,474 on Monday, having revived the long-term bear market with a convincing move below the crucial 21-month exponential moving average (EMA) support on Nov. 14.

Therefore, the path of least resistance is to the downside. A possible coming drop to the psychological support of $3,000, however, may happen after a notable bounce. This is because BTC has picked up a strong bid today, validating the bearish exhaustion signaled by a repeated defense of $3,500 in the last three days.

CD | https://www.coindesk.com/back-over-4k-bitcoins-price-bounce-is-gathering-pace

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[Slow death]

dude, these days I do not like see the news channels because all news channels are publishing the same news: bitcoin will fall to $1000.

Bitcoin May Drop to $1,000, Analyst

Major Cryptocurrencies Drop Again as Bitcoin Loses 3%: Market Down $6 Billion

Capitulation? Bitcoin’s Price Dropped 36% in November

This is creating panic in people.

[bitcoinisbest]

People should not be worrying about this media because they want breaking news always and even if it is not they will make it. Infact it is the good sign now that bitcoin has moved above 4k and looking stronger from here so we wish that it can cross in next couple of days above 5k and move ahead.

[hatshepsut93]

Seems like $4,000 becomes a new floor, we'll likely to see another few months of stagnation and then the price will move again - either a new drop to $3k or a rise to $5k. But this all doesn't matter in longer run, sooner or later the bear market will end and the new bull cycle will start. Now is a very good time to start accumulating coins for the next run.

[pixie85]

Seems like $4,000 becomes a new floor, we'll likely to see another few months of stagnation and then the price will move again - either a new drop to $3k or a rise to $5k. But this all doesn't matter in longer run, sooner or later the bear market will end and the new bull cycle will start. Now is a very good time to start accumulating coins for the next run.

Of course. We wouldn't even be talking about a possibility of 3000 if there was no hash wars at BCH followed by a postponed bakkt launch. Bitcoin doesn't go down without anything happening in the scene. The last 2 months were rather calm with only ETFs getting rejected. We needed something to happen for the price to start moving again and it did. In the long run those who buy now will profit.

[Kakmakr]

People are getting too exited about the small "spikes" in the price. <upwards & downwards> and should seriously consider not looking at the price every 15 minutes.    The price correction will come and we have seen that this can happen very fast. In a matter of hours the Bitcoin price can increase with $1000 and in a matter of days a new ATH can be reached, if the market wants that to happen.

Unfortunately the market reacted to negative news and this triggered a massive dump of coins and that spiraled out of control. Now, we are seeing a slow push <correction> but the negativity are still fueling some mini dumps. My gut is telling me that this is pure manipulation and that the strongest hoarders will be the biggest winners in the end.    <My gut was doing the same thing in 2017 and I was rewarded far beyond my expectations.> 

[hatshepsut93]

People are getting too exited about the small "spikes" in the price. <upwards & downwards> and should seriously consider not looking at the price every 15 minutes.    The price correction will come and we have seen that this can happen very fast. In a matter of hours the Bitcoin price can increase with $1000 and in a matter of days a new ATH can be reached, if the market wants that to happen.

Unfortunately the market reacted to negative news and this triggered a massive dump of coins and that spiraled out of control. Now, we are seeing a slow push <correction> but the negativity are still fueling some mini dumps. My gut is telling me that this is pure manipulation and that the strongest hoarders will be the biggest winners in the end.    <My gut was doing the same thing in 2017 and I was rewarded far beyond my expectations.> 

ATH in a few days is an exaggeration, Bitcoin still follows market cycles, so we'll not see a new ATH in years. The current volatility is a good opportunity for making money on trades if you can guess the next big price move correctly, so for some people it's a good reason to get excited, although they are probably a minority. Also, this rise to $4,000 was a huge relief, since we were close to testing $3,000 bottom. But you're right, in the longer run a lot of things can happen.

[bbc.reporter]

Seems like $4,000 becomes a new floor, we'll likely to see another few months of stagnation and then the price will move again - either a new drop to $3k or a rise to $5k. But this all doesn't matter in longer run, sooner or later the bear market will end and the new bull cycle will start. Now is a very good time to start accumulating coins for the next run.

It's the new floor until someone dumps again and creates a lower new floor hehehe. Similar comments were said of $6000 with many traders confidently stating that it is the floor and also advicing that buying on a price near it was good.

However, we are hardened bagholders who are used to waiting for the next bull market hehe.

[Homitum]

People should not be worrying about this media because they want breaking news always and even if it is not they will make it. Infact it is the good sign now that bitcoin has moved above 4k and looking stronger from here so we wish that it can cross in next couple of days above 5k and move ahead.

That is right. The price is below $4,000 now. I am not worried at all and still accumulating.