figmentofmyass
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December 19, 2018, 09:12:59 PM |
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Opinions on Recent Market Upswing
perhaps neither! i definitely don't expect an immediate bull run---that's totally out of the question. but i always figured the $3k level might be the bottom. it looks possible now. however, it'll take time for the market to confirm that. if we look back to the 2014-15 bear market, it took almost a year to decide. in august 2015, the price almost crashed again. the market immediately bucked that selloff attempt and we confirmed a new bull market a few months later, but at that time it could have gone either way. i'm just trying to ride the waves. whether the bottom is in or not, we should be trending upwards for a couple weeks. good enough for me!
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jcpone
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December 19, 2018, 11:19:23 PM |
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It's neither of the two. The increase that is happening right now is just a nice recovery for the month. It hasn't proven anything as of now, simply a recovery. Though, bitcoin holders are thinking really good about this. For me, I'm hoping that this is a sign of the bull run. Though, a lot of recovery is needed before bull run. The one-year drought is tremendous. Very long recovery is required.
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CryptoGosu
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December 19, 2018, 11:45:24 PM |
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I think that we are waiting for price stabilization at around 4000. The market needs to calm down. I think that now traders need to be very careful. The price can make a strong move to one side.
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tunapa
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December 19, 2018, 11:52:11 PM |
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No one call can really say but I think looking at the situation of things ,it's not a dead cat trap. After a while we will really know what's going. But for now, this is just a simple price movement as big payer are coming and going straight high.
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HidenJonathan
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December 20, 2018, 02:33:36 AM |
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;Dhaha a funny picture
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Inosend
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December 20, 2018, 04:00:04 AM |
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Really this is hilarious though, but the truth must be told and of course the truth is always bitter, we are into dead cat Bouncing ERA this isn't bull run
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arielbit
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December 20, 2018, 04:29:05 AM |
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the final difficulty adjustment of 2018 just happened. and so now we are in the realm of mining pools knowing the next difficulty jump WILL be affected by the delivery of next gen asics getting delivered in a week to thousands of people. pushing up hashrate. pushing up costs. and therefore making many prefer to buy coin as a cheaper option, sparking a price rise
Interesting. However, many have claimed that 6000$ was the bottom because it was close to the mining costs. (I didn't agree back then, I claimed the mining costs are not so well known.) We are still under 4000$, so either miners are mining at a loss and still don't care, either the mining cost was close to 3000$-3500$. Only in this case your theory could be correct, although historically (eg when Bitcoin has fallen under 250$ in 2015 and stayed low for almost a year) the price has its periods when it was clearly under the mining costs. PRICE is not the underlying value first 3 quarters of 2018 $5800 was a good measure.. then in october hashrate curved down. and then price curved down in november. in 2015 the hashrate was between 250peta-400petahash during the stagnant period which doing math of asics at the time... it was break even/profitable there was a bit in august 2015 which touched on the break-even testing the bottomline.. then by autumn the hashrate and the market price moved up maybe add to that the element of electric cost.. like mining has become only profitable in a very small parts of the world and miners without a source of cheap electricity had capitulated, the expensive will have to go first then the average and then when some the cheapest have capitulated-> buy some, can't go wrong long term
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Naughty Princess
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December 20, 2018, 04:33:09 AM |
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bullrun or not, who bought some coin last week make a lot of profit right now, waves and doge its look like have bullrun first Yes. When you bought last week, good for you because you got profit in small increase for others. Never doubt a coin when it drops because there is an opportunity that you do not need long term for profit though even you make investment for long, it is good time to start. Bitcoin will bull run again in time.
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ShowOff
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December 20, 2018, 05:08:34 AM |
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even both of bull run or dead cat bouncing,i will still hold my coins and speculate more. It is better than i jump and take a risk to loss because i not see good news for bitcoin and that is my personal decision.
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Magkirap
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December 20, 2018, 06:17:36 AM |
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Bull run, in my opinion.
We always predict that there will be a bull run and bull run but still nothing happen. Many people and bounty hunters are keep on saying bull run but if you study the chart on market it would not happen. I do not know if the if the chart show bull or dead cat bouncing.
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Kakmakr
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December 20, 2018, 06:28:36 AM |
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My short-term prediction for the next Bull run, would be Q1 of 2019. I base this prediction on the expectation that the SEC might approve the first Bitcoin ETF and that it would inevitably push up the demand for bitcoins. We are currently seeing a lot of financial institutions preparing for something big and I think they too anticipate a possible approval of the first Bitcoin ETF. If I am wrong and this will not happen, then we might see a price between $2000 to $3000 for a longer period. Some profits can be made, by buying some cheap bitcoins now, before the announcement is made. <If you want to lower the risk, sell during the buildup to the announcement.>
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NeuroticFish
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December 20, 2018, 06:47:25 AM |
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PRICE is not the underlying value first 3 quarters of 2018 $5800 was a good measure.. then in october hashrate curved down. and then price curved down in november.
Clearly the price is not the underlying value. I know that. But we were discussing about price, so let's not introduce unneeded extras into the equation. I won't deny your data, you are much better informed. But did the hash rate drop with 45%? I doubt it. But the price did. So while the hash rate and new mining gear can affect the price, I think that it has to be something else too that cause/trigger this (of course, it can be simply huge speculation, which is hard to quantify and foresee).
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3kpk3
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December 20, 2018, 07:08:15 AM |
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bull run= 2016 $300^ 2017 $900^ 2018 $3200^
daily/weekly volatility= cubs(small bears) v calves(small bulls)^
personally i use the mining cost/market dynamic numbers to help find the bottomline support which has been a good guide for years of knowing the bottom.
the final difficulty adjustment of 2018 just happened. and so now we are in the realm of mining pools knowing the next difficulty jump WILL be affected by the delivery of next gen asics getting delivered in a week to thousands of people. pushing up hashrate. pushing up costs. and therefore making many prefer to buy coin as a cheaper option, sparking a price rise
I agree with your points. Did not know this as a matter of fact and simply another reason why Bitcoin will rise again at some point in the future most likely in the next 1-5 years. I don't think that the ETF proposal any such reason will help push the market in the upward direction. Mainstream adoption and the supply and demand logic are 2 primary reasons which can help push the market in the right direction. HODLING for the long term is the best strategy in this aspect.
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Evintiman
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December 20, 2018, 07:56:50 AM |
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It's neither of the two. The increase that is happening right now is just a nice recovery for the month. It hasn't proven anything as of now, simply a recovery. Though, bitcoin holders are thinking really good about this. For me, I'm hoping that this is a sign of the bull run. Though, a lot of recovery is needed before bull run. The one-year drought is tremendous. Very long recovery is required.
That could be true. The long term bull run might happen later next year.
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greensheep
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December 20, 2018, 08:29:45 AM |
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Difficult to say. I guess there was not enough volume to support the bounce for getting a bull run started and break that support around 5-8 - 6K. on the otherhand, sellers were not getting price lower than 3.1K. For now the bottom is in I guess. Let's see if it holds when tested again later on.
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Roni116
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December 20, 2018, 02:48:26 PM |
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I think in the long run, bitcoin will get a bullrun, in 2018 bitcoin is too concerned, but as time goes on, the increase will begin soon.
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proudhon
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December 20, 2018, 03:21:40 PM |
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Easy. Dead cat bounce. Classic. No question.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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Adriano2010
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December 20, 2018, 05:14:23 PM |
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As we can see the price grow a bit, and even if will not be a new ATH this month, i think next year we can have a new ATH, just hold until then and why not buy more or get more coins if is possible and waiting until bull run.
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dandannn
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December 20, 2018, 05:18:42 PM |
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I wouldn't call this a bull run until we start hitting $6k again. It would be good if we could go through Xmas into the NY and stay above $4k. The majority are still calling $1500, lets hope they are wrong!
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qualitywork
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December 20, 2018, 05:20:46 PM |
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I'm betting that this is just a dead cat bounce, the bears have full control over this market and they can dump it down anytime. Bull run will begin in January next year as bakkt is released
Crypto is unpredictable mate, It is not dependent on bakkt and yes I hope you remember when the market was continuously dumping bakkt changed their mind to start their project on January. Anything can happen over a night that's the reason people say crypto is risky.
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