Bitcoin prices are being settled to explode ?

[wuvdoll]

From the last three months prices of Bitcoin are range bound and hovering around 3600$ .It seems that the prices are settled and waiting for the uptrend movement . Is it the start of the journey towards 20000$ again?

I was used to this predictions before in which it always ends to disappointment as in never going to happen as desired so therefore it would be better that we should wait and see of the market as market price is really unpredictable that is why it was considered risky.

Correct, there's no exact prediction on bitcoin price so let's wait the moment that the Bitcoin will rise up again. Let's wait that time can tell everything happens at least we are ready on that by patiently hold our bitcoin asset and yelling when bitcoin price goes up. As of now, it is hard to decide that it is the beginning of Bitcoin there's might possible to happen.

I think the point is that when you are waiting for an upwards movement from bitcoin there could be a downward movement as well. Look at the 6500 dollars times, we all expected the price to go up.

Take a look at the possibilities of that time, the potential was that we had a bitcoin at 6500 dollars per each coin, we had SEC maybe accepting the commodity, we had BAKKT starting a new ETF, we had new year coming up, all kinds of good stuff. What really happened ? Well, someone sold a bunch of coins, price went down a lot, then many panic sellers sold even more, the price went down even more and we finished the year with 3200 low.

It means what is the potential and what is the reality could have quite drastic differences, not like "small difference that is not noticeable" I mean seriously HUGE differences. Hence if you "wait for it to go up" then you may be right but there is also a chance you are very wrong as well.

[YuginKadoya]

This is something we can always look forward to in Bitcoin market there may be a settling movement upward but you can always need to be ready for a downward trend always I really think most investors and traders are looking forward to that kind of movement, They don't want a stable kind of investment and want something to have a risk on it and they sometimes settle for the highly volatile one that the less volatile market.

[bitbunnny]

I think this is just another wishful thinking. I know everyone is already unpatient and can't wait for market to start moving in positive ways. But to my opinion the price will not jump significantly in some short period of time no matter of ETF expectations and similar. There is some positive vibe that new year and new begininig brings but I don't think this is enough, investors are still very careful.

[deisik]

I think this is just another wishful thinking. I know everyone is already unpatient and can't wait for market to start moving in positive ways. But to my opinion the price will not jump significantly in some short period of time no matter of ETF expectations and similar. There is some positive vibe that new year and new begininig brings but I don't think this is enough, investors are still very careful

But when the time comes?

If you don't know (I don't know either, just in case), how can you actually say that it is yet another instance of wishful thinking? I don't necessarily disagree with you (as I also come to think that low prices are here to stay), I just want to point out that your opinion (as well as mine, for that matter) is only an opinion and not much different from the opposite one in terms of probabilities. In the summer of 2015 people were even less optimistic (or more pessimistic if you please), while in reality they only had to wait till the fall of that year

[semobo]

From the last three months prices of Bitcoin are range bound and hovering around 3600$ .It seems that the prices are settled and waiting for the uptrend movement . Is it the start of the journey towards 20000$ again?

One more topic again about the bitcoin price going about $20,000
Being settled to something is not meant for the prices will explode and moreover previous months we are settled for $6,000 range so stable price around the region doesn't make any guarantee that the prices will increase later.

[Slow death]

No one can say 100% what will happen with bitcoin price

tell this to Tom Lee and John McAfee

is possible to see in future a great grow and have the price going to new ATH and possible after Bakkt will start investing on bitcoin and get a nice profit all holders.

BAKKT still depending on the regulators, and from what I see, there is still no 100% guarantee that the regulator will grant them the license. Just see that they are no longer optimistic as the months ago

[South Park]

From the last three months prices of Bitcoin are range bound and hovering around 3600$ .It seems that the prices are settled and waiting for the uptrend movement . Is it the start of the journey towards 20000$ again?

Do you see a reason for the price of bitcoin to go up that fast? Because I don't, technical analysis is definitely a very useful tool and I rely on it since it gives you a very clear vision of where we are, but you cannot ignore what has happened to the market during the last year, if we want that investors come back to the market then we will need several positive news in a row that convinced them to come back and since I do not see that happening then the price will remain at the current levels for now.

[Febo]

From the last three months prices of Bitcoin are range bound and hovering around 3600$ .It seems that the prices are settled and waiting for the uptrend movement . Is it the start of the journey towards 20000$ again?

Nope it is time to bounce between $3k and $6k. This can last until end of the year but most likely will end somewhere in Q3.

[Altero]

From the last three months prices of Bitcoin are range bound and hovering around 3600$ .It seems that the prices are settled and waiting for the uptrend movement . Is it the start of the journey towards 20000$ again?

I'm for sure it won't, never think that it will work easily and I've never expecting it to happen though. I'm an optimistic person but to think for that again($20k), I feel bad on it. Many people were losing and being hopeless just because of that price and I don't want that we suffer again, It is better to have the current flows and people can't face the big risk of losing.

[deisik]

BAKKT still depending on the regulators, and from what I see, there is still no 100% guarantee that the regulator will grant them the license. Just see that they are no longer optimistic as the months ago

I suspect this has more to do with how things stand right now in the cryptoworld

I don't think they would be making all this effort and spending so much time and resources developing their platform if they weren't sure in receiving the regulator's approval in the end. More likely, they have become less optimistic because they now see that there's actually not that much interest in cryptocurrencies as they first estimated. In other words, they wouldn't start if they knew in advance the current state of affairs in the cryptoverse. Perhaps, they expected much more adoption by this time

[xuan87]

I hope so but we need to be realistic,if there is no big movement then we can't reach the 20k, if we want the price to jump that high we need more adoption and more transaction volume, I am sure we can reach 20k again but not in this current market conditions so we need to be patience

[iv4n]

I hope so but we need to be realistic,if there is no big movement then we can't reach the 20k, if we want the price to jump that high we need more adoption and more transaction volume, I am sure we can reach 20k again but not in this current market conditions so we need to be patience

Every person from this forum is hopping to see that price explosion and going back to 20k dollars. But like you say, we need to be realistic, in this moment that means we need to stay patient and wait for further developing of situation. Good sign is that now many countries and big corporations discussing about bitcoin, something will come up from all that, you will see, maybe that will not happen so soon.

[STT]

From a technical analysis perspective, a violent price movement definitely has a good possibility. But does it necessarily mean that the price movement would be upwards? Definitely not. As always, it could go either way. Before you know it, we could be at $3200.

Theres more liquidity outside Bitcoin then sellers waiting or forced sellers within Bitcoin wanting to sell at these levels.   I think the OP highlights a good possibility that BTC is a reasonable hedge for some in that it could rise outside of other normal risks like the oil price or various conventional assets.   BTC could rise just because its exhausted sellers and availability, it does tend to be a phase of one or another I guess.



Heres my recent view of BTC, quite short term but it seems to fit within a range and hit each of these levels fairly neatly

[Alphamale69]

👍 👍

[BLAST2MARS]

From the last three months prices of Bitcoin are range bound and hovering around 3600$ .It seems that the prices are settled and waiting for the uptrend movement . Is it the start of the journey towards 20000$ again?

Whoaa, you are getting delirious brother. Don't you remember that btc also settled in the $6k mark for a long time too? I was also feeling very confident that it'll stay that way but look at what happened now.

[deisik]

From a technical analysis perspective, a violent price movement definitely has a good possibility. But does it necessarily mean that the price movement would be upwards? Definitely not. As always, it could go either way. Before you know it, we could be at $3200.

Theres more liquidity outside Bitcoin then sellers waiting or forced sellers within Bitcoin wanting to sell at these levels

Could you explain in simple words what you mean by this?

I think the OP highlights a good possibility that BTC is a reasonable hedge for some in that it could rise outside of other normal risks like the oil price or various conventional assets. BTC could rise just because its exhausted sellers and availability, it does tend to be a phase of one or another I guess

Exhausted sellers don't create demand

If anything, it means stagnating prices, not rising ones. But with speculative markets in the given circumstances (i.e. the ones we are in now), the price can go only lower. In fact, this is what we are witnessing right now, and the real question should be how fast we will be falling. Put differently, exhausted sellers don't mean a shit if there is not enough demand to give the market a required boost and change of sentiment

[davis196]

From the last three months prices of Bitcoin are range bound and hovering around 3600$ .It seems that the prices are settled and waiting for the uptrend movement . Is it the start of the journey towards 20000$ again?

Your theory is kinda stupid.
The prices aren't waiting for anything.The whales are waiting,which leads to all the other traders waiting.
The market is waiting and this helps the bears,because if they start mass selling btc,the price will go down for sure.

[gabmen]

From the last three months prices of Bitcoin are range bound and hovering around 3600$ .It seems that the prices are settled and waiting for the uptrend movement . Is it the start of the journey towards 20000$ again?

Your theory is kinda stupid.
The prices aren't waiting for anything.The whales are waiting,which leads to all the other traders waiting.
The market is waiting and this helps the bears,because if they start mass selling btc,the price will go down for sure.

Yeah, it's more of the other way around and as we can observe with what's been happening the last 48 hours, it's by far not going upwards. We may yet see another new low since the 2017 run. A stagnant movement in a price this low can take the guts out of potential new investors.

[romero121]

From the last three months prices of Bitcoin are range bound and hovering around 3600$ .It seems that the prices are settled and waiting for the uptrend movement . Is it the start of the journey towards 20000$ again?

Your theory is kinda stupid.
The prices aren't waiting for anything.The whales are waiting,which leads to all the other traders waiting.
The market is waiting and this helps the bears,because if they start mass selling btc,the price will go down for sure.

Yeah, it's more of the other way around and as we can observe with what's been happening the last 48 hours, it's by far not going upwards. We may yet see another new low since the 2017 run. A stagnant movement in a price this low can take the guts out of potential new investors.

In the past the price of bitcoin has exploded and grown high after stagnation of price. This time too the same can happen, for the past few hours the price have been growing forward. The price of bitcoin has grown forward, following the same almost each and every coin have moved forward getting indicated in green. If there is no more gradual growth then once again it'll come back to a stagnation point which seems to be within $5000 following which the growth might proceed.

[Supercrypt]

From the last three months prices of Bitcoin are range bound and hovering around 3600$ .It seems that the prices are settled and waiting for the uptrend movement . Is it the start of the journey towards 20000$ again?

Your theory is kinda stupid.
The prices aren't waiting for anything.The whales are waiting,which leads to all the other traders waiting.
The market is waiting and this helps the bears,because if they start mass selling btc,the price will go down for sure.

Yeah, it's more of the other way around and as we can observe with what's been happening the last 48 hours, it's by far not going upwards. We may yet see another new low since the 2017 run. A stagnant movement in a price this low can take the guts out of potential new investors.

Even tough I think prices are not going up soon (it could, it might not, we don't know) I also think you are wrong too. I mean just because price is low and it dropped a bit doesn't really mean it will continue to go down. It can recover and go up by a big number as well. Hence I think we should say that we have no idea what will happen to bitcoin.

The real problem comes with the uncertain things if you ask me. If we know what will happen in the future (even if not the price but everything else) we can calculate what the price could be, however during bitcoins life there is always unexpected things that happen changing the price and honestly there is absolutely nothing we can look forward to that can take the price higher or lower hence we are just "waiting" right now.