I expect the market to be in green throughout this month.

[thecodebear]

and don't forget that bitcoin has never stayed low this long, this is a record in both length and size of the drop.

Neither of those things are true.

The last crash was significantly longer than how long this one has been so far. If we pass October and the price still hasn't come up from the 3000s bottom then it will be the longest, but we're a good 8 months away from that now. That's if you're talking about the entire duration between bull markets. If you are just saying how long it stayed at the bottom of the market, we're only 3 months in now, in 2015 it spent some 9 months at the bottom, so again not even close to a record.

And the size of this drop is just normal, not a record either. So far I believe it's actually slightly less than the last crash, while at least one early crash dropped by over 90% so this isn't close so far.

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[jhongzjhong]

Yes, we have seen a little improvement but we can't still consider that it is the start of the bull run, probably just a little spike that manipulated by whales and they want to trigger this price increase now to accept the implemented ETF and BAKKT. Hopefully it will continue rising up and not end up with a bull trap.

[snipie]

Yes, we have seen a little improvement but we can't still consider that it is the start of the bull run, probably just a little spike that manipulated by whales and they want to trigger this price increase now to accept the implemented ETF and BAKKT. Hopefully it will continue rising up and not end up with a bull trap.

Spikes always happens to rise the price a little bit so big whales can make some considerable profit In my opinion. Anyway the bitcoin price was never stable and + or - 100$ is just a normal variation.

[deisik]

I don't see any reason to be optimistic until we make higher highs and not continue with lower highs and eventually break out to the downside. I get it that people want this bear market to end, but it doesn't end because you want it to end, so don't expect anything until we see higher highs. The trend favors the bears and that needs to change

I remember you were saying different things a while ago

Did you change your mind and turned from a permabull into a permabear? Or just accepted the inevitable, i.e. we may be in this market for long and it is not set in stone that we won't crash lower? Was it you who were advocating to average down? Do you still recommend this strategy or what? Not that I care a lot really, rather curious how quickly people come to realizing that things are a bit different in reality that in their imagination

[xuan87]

I think the investors are waiting for official and clearer information, it's written that they were still fighting for approval and there was a slight chance that it would be accepted but we still don't know when it will happen,is it's normal that the market only reacted a little, we have in the same rumors a lot of time, so the investors now need a firm confirmation before investing

[leowonderful]

There still seems to be quite a bit of uncertainty and money on the sidelines to me right now with this bull flag we’re in looking pretty shaky. I’m personally not fully convinced we’re out of the bear market yet or past a bottom as this little pump up we had could break right back down again at any time, but we really won’t know for sure until we’re already past it. We’re certainly holding up pretty well as of now, though, and support’s managed to mostly nullify any attempts down from this flag so far.

[pooya87]

Yes, we have seen a little improvement but we can't still consider that it is the start of the bull run, probably just a little spike that manipulated by whales and they want to trigger this price increase now to accept the implemented ETF and BAKKT. Hopefully it will continue rising up and not end up with a bull trap.

Spikes always happens to rise the price a little bit so big whales can make some considerable profit In my opinion. Anyway the bitcoin price was never stable and + or - 100$ is just a normal variation.

you should always talk about price in percentage not in values like $100 because it makes more sense specially when you are talking about price changes. for example $100 in 2014 when price was $200 was 50% change but now that price is $3500 a $100 change is ~2% change and it is not even "change" in my opinion.
basically when it comes to bitcoin anything south of 10% can be safely ignored unless it is breaking some important price level.

[Thanasis]

Overall 4% of price growth in the bitcoin but still not convincing much of the people because anything less than 10% of growth is just a normal thing in crypo currencies and it will change at any moment on the opposite side.SEC approval might take the prices to  next level but not in long term effect.

[deisik]

and don't forget that bitcoin has never stayed low this long, this is a record in both length and size of the drop.

Neither of those things are true.

The last crash was significantly longer than how long this one has been so far. If we pass October and the price still hasn't come up from the 3000s bottom then it will be the longest, but we're a good 8 months away from that now. That's if you're talking about the entire duration between bull markets. If you are just saying how long it stayed at the bottom of the market, we're only 3 months in now, in 2015 it spent some 9 months at the bottom, so again not even close to a record.

And the size of this drop is just normal, not a record either. So far I believe it's actually slightly less than the last crash, while at least one early crash dropped by over 90% so this isn't close so far

Technically, you may be right after all

If we use such broad metrics as duration and scale of the drop. But I think we should pay closer attention to details, i.e. how market performs. If you do, you will start to notice major differences between now and then  In 2015 there was a lot of both demand and supply so the market was alive. Today it looks mostly dead, apart from irregular and sporadic bursts of activity, up to a point where we can call them convulsions and agony

[bitbunnny]

Overall 4% of price growth in the bitcoin but still not convincing much of the people because anything less than 10% of growth is just a normal thing in crypo currencies and it will change at any moment on the opposite side.SEC approval might take the prices to  next level but not in long term effect.

I agree. The latest small increase could be ignored because actually it doesn't mean anything. This is still no sign of market recovery and has no effect or influence. I don't think that SEC approval, if even happens soon, will not change anything substantial.

[LeGaulois]

Overall 4% of price growth in the bitcoin but still not convincing much of the people because anything less than 10% of growth is just a normal thing in crypo currencies and it will change at any moment on the opposite side.SEC approval might take the prices to  next level but not in long term effect.

I agree. The latest small increase could be ignored because actually it doesn't mean anything. This is still no sign of market recovery and has no effect or influence. I don't think that SEC approval, if even happens soon, will not change anything substantial.

Well, at least the lastest increase from the previous week is still here. I was surprised and I told to myself by Monday or Thursday it will be gone but look like not. Sure it's not giving us a positive signal to get Bitcoin back on track but a little effort has been done, better than nothing.
(Personally I don't wait for the SEC anymore since a long ago)

[Olalomi]

When I read  this news three days ago: https://www.rollcall.com/news/congress/the-future-holds-cryptocurrency-based-funds-says-secs-jackson. But since then market reacted a little and everything is now in red today.  I think investors and traders are still waiting for more clearly news to come out before pump the market.

I think that rumour must have been responsible for the price pumping for a short period of time I assumed its just a bull trap the price has resumed its ranging moves as usual except a major positive fundamental news resurface the price of btc will pump again else the price will continue to consolidates.

[thecodebear]

and don't forget that bitcoin has never stayed low this long, this is a record in both length and size of the drop.

Neither of those things are true.

The last crash was significantly longer than how long this one has been so far. If we pass October and the price still hasn't come up from the 3000s bottom then it will be the longest, but we're a good 8 months away from that now. That's if you're talking about the entire duration between bull markets. If you are just saying how long it stayed at the bottom of the market, we're only 3 months in now, in 2015 it spent some 9 months at the bottom, so again not even close to a record.

And the size of this drop is just normal, not a record either. So far I believe it's actually slightly less than the last crash, while at least one early crash dropped by over 90% so this isn't close so far

Technically, you may be right after all

If we use such broad metrics as duration and scale of the drop. But I think we should pay closer attention to details, i.e. how market performs. If you do, you will start to notice major differences between now and then  In 2015 there was a lot of both demand and supply so the market was alive. Today it looks mostly dead, apart from irregular and sporadic bursts of activity, up to a point where we can call them convulsions and agony

I really don't see what you're talking about. Sure in 2015 Bitcoin made two attempts to break out over the course of 8 or 9 months, rising from low 200s to 300 twice, but we're only 3 months into the current bottom, and its not like there is some rule that the bottom needs to include 50% gain failed breakouts. And it is naturally to expect volatility to be less because volatility has and will continue to go down over time in the long term. The market is 15x bigger than it was in 2015, a bigger beast is harder to move.

And volume seems to be, even in lower periods during this bottom, higher than it ever was before late 2017, so again I see no reason to call the market dead.

Looks like a normal bottoming out process to me, similar to 2015. We should expect it to continue for months to come as the market slowly shifts to a new bull market, just like 2015.

What you are calling a dead market has so far during this 3 months bottom gone from 3500 to 4300 to 3300 to 3600 to 3100 to 4100 to 3600 to 4000 to 3300 to 3600, of course with smaller ups and downs between each of those. Price activity looks pretty active to me.

[South Park]

i don't really think investors are waiting for ETF and SEC anymore. we have had the same story a lot of times, more than enough for us to give up on waiting on them before investing.
in fact i think the reason why we had the recent rise had nothing to do with this ETF news but it was about how the US states passed a bill to recognize bitcoin as a currency and if i am not mistaken they also removed taxes on it.

and don't forget that bitcoin has never stayed low this long, this is a record in both length and size of the drop.

True, the first time I heard about the possibility of and ETF being approved I will admit that I was happy with the news but after so many delays and refusals I do not follow those news at all, if at some point the SEC finally decides to approve it I do not expect the market to move at all, it is my opinion they are just playing with us and seeing how much they can manipulate the market with news like that.

[coinluisa]

When I read  this news three days ago: https://www.rollcall.com/news/congress/the-future-holds-cryptocurrency-based-funds-says-secs-jackson. But since then market reacted a little and everything is now in red today.  I think investors and traders are still waiting for more clearly news to come out before pump the market.

Maybe but we all know that every what happen in the market is depending to what is in demand in the market. But hopefully we see a green in coming days and weeks even there's no news. Let's observe the market everyday and let see if there's changes.

[romero121]

The market seems good and now a small forward price push nearing $3650, maybe the growth will continue crossing $4000 at the earliest. Possibly before the ongoing month it is predicted to cross and make the market flourish for a long term green trend. As of now small fluctuation in the market is taking place. People expect a sustained growth and fluctuations further on.

[MuffinMaster]

When I read  this news three days ago: https://www.rollcall.com/news/congress/the-future-holds-cryptocurrency-based-funds-says-secs-jackson. But since then market reacted a little and everything is now in red today.  I think investors and traders are still waiting for more clearly news to come out before pump the market.

One or even a few positive articles will not change the color on charts from red to green. After such a long period of bear market, the situation will not change in a month. In my opinion, we will have to wait for a minimum of six months to change the trend.

[deisik]

and don't forget that bitcoin has never stayed low this long, this is a record in both length and size of the drop.

Neither of those things are true.

The last crash was significantly longer than how long this one has been so far. If we pass October and the price still hasn't come up from the 3000s bottom then it will be the longest, but we're a good 8 months away from that now. That's if you're talking about the entire duration between bull markets. If you are just saying how long it stayed at the bottom of the market, we're only 3 months in now, in 2015 it spent some 9 months at the bottom, so again not even close to a record.

And the size of this drop is just normal, not a record either. So far I believe it's actually slightly less than the last crash, while at least one early crash dropped by over 90% so this isn't close so far

Technically, you may be right after all

If we use such broad metrics as duration and scale of the drop. But I think we should pay closer attention to details, i.e. how market performs. If you do, you will start to notice major differences between now and then  In 2015 there was a lot of both demand and supply so the market was alive. Today it looks mostly dead, apart from irregular and sporadic bursts of activity, up to a point where we can call them convulsions and agony

I really don't see what you're talking about. Sure in 2015 Bitcoin made two attempts to break out over the course of 8 or 9 months, rising from low 200s to 300 twice, but we're only 3 months into the current bottom, and its not like there is some rule that the bottom needs to include 50% gain failed breakouts. And it is naturally to expect volatility to be less because volatility has and will continue to go down over time in the long term. The market is 15x bigger than it was in 2015, a bigger beast is harder to move

It was not from low 200's

As it was more about low 150's (which was in February of that year) and 450's (which was in November). As you can see, the price rose almost 3 times in the span of 9 months, which should now be rising from 3k to 9k to look similar. It's unlikely we are going to see such prices in the coming months (though everything is possible, of course)

Regarding market size and trading volumes, you are obviously making a typical mistake by looking at USD volumes while you should actually look at BTC volumes if you want to make correct comparisons how markets perform now and how they performed back in 2015

[Slow death]

When I read  this news three days ago: https://www.rollcall.com/news/congress/the-future-holds-cryptocurrency-based-funds-says-secs-jackson. But since then market reacted a little and everything is now in red today.  I think investors and traders are still waiting for more clearly news to come out before pump the market.

this is a time when people should take a deep breath and forget ETF and BAKKT for some time, this will help people not create high expectations on ETFs because if the SEC reject these ETFs, people will be disappointed. One of the reasons why people no longer get anxious about this type of news is because they know that regulators are not going to approve things like ETF, on the contrary they are gaining more time to see how the crypto market will be, if somehow the crypto market will satisfy the requirements that they establish

[Question123]

Other people wait for the news so that they will able to invest their money. But they want good news not bad news because if they only see the bad news they will have doubt in their mind and maybe they did not invest their money to the crypto anymore. This month is really nice to see the market turn to green again because for sure if all people and all news positive market will increase fast.