[2018-12-19] Bitcoin Surges 18% in 3 Days as it Nears $3,800: What’s Next?

[Lmaooo]

Bitcoin Surges 18% in 3 Days as it Nears $3,800: What’s Next For the Market?

Since December 17, within less than three days, the Bitcoin price has surged from $3,181 to $3,776 against the U.S. dollar, by more than 18 percent.

On cryptocurrency-to-fiat exchanges like Coinbase and Bitstamp, Bitcoin (BTC) has slightly corrected to $3,700 but the breakout of the dominant cryptocurrency above the $3,700 mark has led analysts to consider the possibility of the asset testing major resistance levels in the $3,800 to $4,200 range.

CCN | https://www.ccn.com/bitcoin-surges-18-in-3-days-as-it-nears-3800-whats-next-for-the-market/

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[coolcoinz]

Next will be a retracement to confirm the bottom, or go lower. We will need to come back down and the move down will either confirm the bottom at 3k or go lower, but it's 100% certain that it's going to come. Bearish scenario is telling us that the bottom should be somewhere around 2k, maybe 2,5k. Bullish scenario will confirm a higher low above 3,5k and go up from there, maybe to 5k.

[snipie]

Bitcoin price has to get back to its previous level around $6k then to consolidate there. We will see some BTXiters that will drop the price down but the essential point is to attract new buyers and get their trust.

[Kakmakr]

The Bitcoin price has increased to above $4000 now, so it shows some good signs for a possible correction phase. We know Bitcoin is currently under valued, so a price correction is inevitable. The question is, if this is another short-term price spike or if this is going to be the next Bull run.  <Previous events like this, ended up in a new all time low.> 

My prediction for the next Bull run is still March 2019, so my best bet with this latest spike in the price is that it is just a small correction.  

[hatshepsut93]

Bitcoin price has to get back to its previous level around $6k then to consolidate there. We will see some BTXiters that will drop the price down but the essential point is to attract new buyers and get their trust.

Won't happen, it's not going to $6,000 anytime soon. Just like crashes are short-lived during the bull market, so are the spikes during bear markets. It's highly unlikely that we're encountering the beginning of a new bull run, since we haven't yet seen a clear bottom and a long period of stagnation. Now is not a bad time to buy, but some people will probably just FOMO now and then panic sell at a loss when the price will start falling again.

[Slow death]

until a few weeks ago we were in the $6000 and I heard comments from people saying that we could end the year with the price of  $8000, I myself was of the opinion that we would end the year with the price of  $8000, but we fell from $6000 to  $3200 and we climb back from $ 3200 to $4000. I only see the $4000 price as a temporary lifeguard, because we need to know where we're going.

will next year see many governments legalize bitcoin to use as a means of payment?

will we next see BAKKT working and bringing more demand to the crypto market?

will next year finally see some bitcoin ETF being approved?

In the next 3 months we will know the answer to these questions

[Kemarit]

At least the rise to $4000 was a welcoming news for everyone as we have seen the market plummet to $3200. We're getting closer to the end of the year and I'm sure that most of us has predicted that the price could be in the $6000-$8000 (including me), but the Bitcoin Cash war really took a toll on the market market. But it's not over, we should go and look forward to 2019 as we have two important events that can help the market push the price to at least 5 digits again.

[1Referee]

I only see the $4000 price as a temporary lifeguard, because we need to know where we're going.

I have seen people continuously repeat that they want to see the $3000 level tested in order to know what to do or think, but just as what we have seen before the $6000 level was broken, when too many people expect something to happen (above $6000 it was a bull run and currently a test of $3000) it's very likely not going to happen.

I kept sticking to the seasonality that favors Bitcoin more often than not in the last quarter of the year, but it seems that dumb money is a better indicator to follow. They go left, I'll go right.

will next year finally see some bitcoin ETF being approved?

In the next 3 months we will know the answer to these questions

Short answer. No.

[pixie85]

Bitcoin likes to do the opposite of what people are expecting. You can keep watching cnbc and doing the opposite of what they're telling you to do. At 20000 dollars they were saying that Bitcoin is going to go to 30 or 50. When it went down to 10000 it was supposed to be a temporary setback. Now people are repeating the word capitulation candle. Like Bitcoin couldn't go up without the bottom being a long red wick like in 2015.

[milewilda]

At least the rise to $4000 was a welcoming news for everyone as we have seen the market plummet to $3200. We're getting closer to the end of the year and I'm sure that most of us has predicted that the price could be in the $6000-$8000 (including me), but the Bitcoin Cash war really took a toll on the market market. But it's not over, we should go and look forward to 2019 as we have two important events that can help the market push the price to at least 5 digits again.

From 3k range to 5 digits price again would still takes time but surely we can see it on next year but still isnt an assured thing to happen.When seeing the price plummets on 3200 i thought it do already starts to head
up on 2k range but eventually it did go on the opposite side and reaching 4k price again. For those who bought on that presuming bottom price did eventually make profits on shorting when the price rose up on some decent percentage. 1st quarter of 2019 is very exciting due to upcoming decisions and events.

[erikoy]

Yeah I have observe it also and it even went to 4.1K USD in just a short span period of time. Now, the present market price back down to 3.8K USD which is relatively normal after having a huge market price increase. NOw, cryptocurrency fate will be determine if it will continue to fall dowm or will it continue to rise up. Well just wait and see.

[Coin-1]

At least the rise to $4000 was a welcoming news for everyone as we have seen the market plummet to $3200. We're getting closer to the end of the year and I'm sure that most of us has predicted that the price could be in the $6000-$8000 (including me), but the Bitcoin Cash war really took a toll on the market market. But it's not over, we should go and look forward to 2019 as we have two important events that can help the market push the price to at least 5 digits again.

From 3k range to 5 digits price again would still takes time but surely we can see it on next year but still isnt an assured thing to happen.When seeing the price plummets on 3200 i thought it do already starts to head
up on 2k range but eventually it did go on the opposite side and reaching 4k price again. For those who bought on that presuming bottom price did eventually make profits on shorting when the price rose up on some decent percentage. 1st quarter of 2019 is very exciting due to upcoming decisions and events.

I noticed that there are a lot of negative rumors in the crypto exchange markets. It seems that some people have lost their hope of the BTC price recovering at least to $6000 which was a stable level in the previous quarter of 2018. Of course, the war between Bitcoin and Bitcoin Cash affected the financial situation. Moreover, a new highly-capitalized fork Bitcoin SV with a large hashrate has recently joined this war, so there was a storm in the crypto currency markets. What's next? I predict that Bitcoin will not give up and surge to $4500 in the near future.

[veleten]

the bottom of 3000$ was tested, now it is time to end this ... interesting year for cryptocurrencies on a positive note
to me positive will be stabilisation at a  4300-4500$ level
excited for the year to come, Bakkt, ETF , more Lightning - we may see bitcoin stronger than ever
frankly I would not mind it staying at under 5.000$ for the rest of the year

[Vaculin]

the bottom of 3000$ was tested, now it is time to end this ... interesting year for cryptocurrencies on a positive note
to me positive will be stabilisation at a  4300-4500$ level
excited for the year to come, Bakkt, ETF , more Lightning - we may see bitcoin stronger than ever
frankly I would not mind it staying at under 5.000$ for the rest of the year

Please let's not stay at that level again, it's fun watching people enjoying their profit next year than people again complaining.
There are big news coming next year, if this response are all positive, it's impossible that we will not see a price over $10,000, that's frustrating already.
Bad year for this year, but surely 2019 is gonna be a year for the bull.