[2018-12-21] Bitcoin (BTC) Back Above $4,000 on Short-Term Optimism

[ruthbabe]

BTC prices broke the $4,000 level, growing fast in just a few days, but a rally back to $6,000 is still under question.

Bitcoin (BTC) returned to the $4,000 level as trading volumes expanded beyond $8 billion in 24 hours on renewed optimism. For now, however, a rally up to $6,000 is still under question, with more price levels to conquer.

BTC is seeing the usual support from USDT pairings, which build more than 54% of total volumes. The BTC rally this time coincided with altcoins regaining positions from recent lows.

However, cryptocurrency observers point out that bullish attitudes are still very tentative:

https://twitter.com/CryptoShillNye/status/1075477694370918400

The current rally is happening as a result of momentum building up this week, with none of the usual events such as an injection of USDT on Bitfinex. The last large tranche of USDT to the exchange happened on November 25. Still, Bitfinex remains important for the position of BTC. The fundamental factors have not changed for Bitcoin - the promise of an ETF is still distant, the hashrate growth is still relatively slow, and the network is not carrying unusual transaction loads.

At the same time, the selling may have slowed down after more than a month of sudden shakedowns, and a year-end rally has happened at least in the short term. Until the end of the year, selling may be slow, to avoid having to report tax gains for the current year.

There is still skepticism that the current run up from $3,200 is due to unfair trading practices, such as spoof orders:

https://twitter.com/Ilikedtolurk/status/1075358637193920512

In the past, BTC has shown the possibility for very fast daily gains, adding as much as $1,000 in a day. This time, the gains are slower, and the skepticism has increased, taking note of faked volumes, as well as concerted pump efforts.

At the same time, the Bitcoin Cash (BCH) rally is also even more significant, as the coin grew by more than 36% in the past day. BCH easily crossed the $150 level, and traded as high as $165.61 as of 14:00 UTC.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.

Source: https://cryptovest.com/news/bitcoin-btc-back-above-4000-on-short-term-optimism/

[Slow death]

BTC prices broke the $4,000 level, growing fast in just a few days, but a rally back to $6,000 is still under question.

the price is stagnant in the  $4000 and I not see it to rise more than $4300, we wait in the next days to see if the price will rise or if it will fall, I sincerely hope that the price rises to  $6000 because only thus we will have more confident that we will not see the price below  $3000, But if the price drops to  $3500 then we get scared the price falls below  $3000 and that will not be good because it will create a great fear in people

In the past, BTC has shown the possibility for very fast daily gains, adding as much as $1,000 in a day. This time, the gains are slower, and the skepticism has increased, taking note of faked volumes, as well as concerted pump efforts.

these are the cancers of the crypto world: fake volumes and Pump and Dump

At the same time, the Bitcoin Cash (BCH) rally is also even more significant, as the coin grew by more than 36% in the past day. BCH easily crossed the $150 level, and traded as high as $165.61 as of 14:00 UTC.

Oh, that altcoin has reached $202, and it's unbelievable that there's such an exaggerated increase in price

[BitHodler]

Oh, that altcoin has reached $202, and it's unbelievable that there's such an exaggerated increase in price

It's a desperate attempt to boost the value of Bitmain's holdings, because they own over 1 million BCH, and they can use every bit of positivity (at least, they hope so) in regards to their potential IPO.

The only question is--how long can they keep the price up above $200 because it will require tons of Bitmain's buying power to not let it fall down again, especially if you take into consideration that it went up like 150% in 3 days.

The fact that BSV is more or less forced to pump as well makes them see their holdings go up in value even further. I legit hope that they pump all their BTC in BCH and run out of coins as result. Parasites.

[rodskee]

Price broke 4000$ is possible either in the last day of 2018 or in the first week of 2019
Bitcoin will gain their price value bounce back at 6000$ or more than that price value they reach
Hope this good signal of bitcoin showing price moving aren't a trap

[stomachgrowls]

Price broke 4000$ is possible either in the last day of 2018 or in the first week of 2019
Bitcoin will gain their price value bounce back at 6000$ or more than that price value they reach
Hope this good signal of bitcoin showing price moving aren't a trap

We wont know if this is a bull trap or not but basing on technical aspects it is already heading on a reversal but we know crypto market can break out
expectations anytime.We did break 4k barrier but it do goes down again,either it would made some bounce to recovery or would stack up again to tank
in above 3k price for long.

[Kemarit]

Price broke 4000$ is possible either in the last day of 2018 or in the first week of 2019
Bitcoin will gain their price value bounce back at 6000$ or more than that price value they reach
Hope this good signal of bitcoin showing price moving aren't a trap

We wont know if this is a bull trap or not but basing on technical aspects it is already heading on a reversal but we know crypto market can break out
expectations anytime.We did break 4k barrier but it do goes down again,either it would made some bounce to recovery or would stack up again to tank
in above 3k price for long.

It looks like the price went down to $3800 as of the moment. So yeah, this is not a bull run that we all have been waiting for and could be a bull trap for all we know. I see news that Bakkt may have to postpone its Bitcoin future offering so this might have a effect on the current price. Definitely I'm not seeing the price going above $4000 at the end of the year, we need more time and more positive news to re-ignite the market to even break $4000-$6000 again.