[2019-02-19]Bitcoin Price Hits $4,000: Is this the Start of a Bull Run?

[greeklogos]

My God? Do people tired so much from bearish market that they ready to put big hopes for every little raise of the price?
I think we may talk about new bull run only in the case if the price will keep raising for weeks or even months. But such little growth that we could watch is just temporary warming on the market.

[o_e_l_e_o]

But such little growth that we could watch is just temporary warming on the market.

Temporary is the right word, since we have just dropped $300 in an hour. I don't pay much attention to the price, but the bunch of new threads predicting doom and gloom were hard to miss. Just as quickly as everyone jumped on the sudden increase to predict the start of an epic bull-run that would lead to $50,000, now the same people are declaring the bull market is dead and we will see months more of $3k prices.

Fine by me though - I'm not done accumulating at these prices. A few more months of bear market would suit me fine.

[hatshepsut93]

The new bull run will start when people will stop reacting to price increases like this with the words "is this new bull run" and instead will be saying "it's a bull trap". This is because early bulls accumulate close to the bottom, when the market is pessimistic. If people are still expecting quick recovery, this is a sign that we are still not ready for a new bull run, and the market can be unstable, as the price can plummet every time a bullish trend fails.

[1Referee]

The new bull run will start when people will stop reacting to price increases like this with the words "is this new bull run" and instead will be saying "it's a bull trap".

People think like that because they have bags to unload, which they firmly kept holding all the way down.

The bullish sentiment that was going through the market has taken a massive hit, and we got rid of selling pressure in the process. The first fragile looking support is around $3700 where another reset will very likely bring us back to $3500 which I will be looking to long in that case. Short term speaking (max a few months from here) I do see higher highs locally and potentially test $4800-$5000 levels.

If you keep testing the same resistance levels over and over, they'll break eventually because it indicates demand to the up side.

[BLAST2MARS]

Looks like it isn't and just another bull trap. Or another group of whales manipulating the market so they can sell at you higher. The marketcap was at $140 billion and above when btc was more than $4k but it went down below $130 billion so somebody was just doing what they are good at.

[o_e_l_e_o]

People think like that because they have bags to unload, which they firmly kept holding all the way down.

Buy high, sell low, that's the motto, right!?

Honestly ridiculous some of the things you see. People on reddit complaining they bought just before the "crash" of $300 dollars, and so they've made a 10-15% loss by cashing out immediately. Like, I just don't understand it. You've had literally months of the price hovering around $3,600 to buy, you wait for the price to go up 20% in a week, then buy, and then immediately sell when it dips again? These are probably the same people who were complaining at $15,000 that they missed their chance to buy in cheap. Well now it is cheap, and instead of buying they are panic selling at every tiny drop. I just don't understand them.

[1Referee]

These are probably the same people who were complaining at $15,000 that they missed their chance to buy in cheap. Well now it is cheap, and instead of buying they are panic selling at every tiny drop. I just don't understand them.

It's pretty common within markets that people buy that what goes up and sell that what goes down. In other words, price up means they expect it to go up further, price down means they expect it to go down further. I was like that as well back in my very early crypto days. I was here solely for the profits and didn't care what it was that I bought and sold. It's a convenient way to rekt yourself.

Losing money doing things is still the best way to figure out that what you do is wrong. People will figure it out one day. Some need to be rekt twice to do so.

[jossiel]

Looks like it isn't and just another bull trap. Or another group of whales manipulating the market so they can sell at you higher. The marketcap was at $140 billion and above when btc was more than $4k but it went down below $130 billion so somebody was just doing what they are good at.

There were reports that there are a lot of wallets that are accumulating bitcoin and I think that this the period of accumulation hasn't ended. The bear market hasn't ended and there's more time not just for the whales and small investors to get more.

Billions has been taken out from the market within minutes and who can think of that as someone who's been playing in the market individually? Usually with this kind of taking profits, it's mostly the whales or exchanges that we can think of.

[bitcoinisbest]

Looks like it isn't and just another bull trap. Or another group of whales manipulating the market so they can sell at you higher. The marketcap was at $140 billion and above when btc was more than $4k but it went down below $130 billion so somebody was just doing what they are good at.

Market rise a bit and fall back again to 3800$ levels . Might be just a small correction would have happen as some big players would have made quick profits in couple of days and sold it . They might buy back again at this levels and sell or hold for future rise .

[Betwrong]

Looks like it isn't and just another bull trap. Or another group of whales manipulating the market so they can sell at you higher. The marketcap was at $140 billion and above when btc was more than $4k but it went down below $130 billion so somebody was just doing what they are good at.

Market rise a bit and fall back again to 3800$ levels . Might be just a small correction would have happen as some big players would have made quick profits in couple of days and sold it . They might buy back again at this levels and sell or hold for future rise .

I highly doubt that will happen because people who sell their coins these days don't need more coins, they have more than enough of them. We can only hope that new adopters will jump in the game and that the amount they buy will not be overtrumped by another massive selling by the whales, as always happens in recent times.