Bitcoin is difficult to rise above the price of $ 4000??

[indoagung88]

I see something heavy and maybe difficult, when the price of bitcoin will touch $ 4000, then drop dramatically down. In your opinion, what is happening with the current condition of bitcoin. Is it because of the market that hasn't really recovered? or is there bad news?

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[franky1]

its the mining:market dynamics

when its cheaper to buy coin rather than mine it, people buy it. when its cheaper to mine it than buy it people mine it.
when prices get above a certain level and it becomes profitable to sell, people do that.

if a price exceeds this 'value' area and prices spike into speculation, expect it to correct back down into reasonable value area.
the only way to have sustained value increase is to have the costs of obtaining it sustainable. which for multiple years has been the hashrate. which while the whole sell off of s9's to be used on altcoins and the fresh purchases of s15(bing slow) to replace, and a upcoming(but not yet here) s17 range.. has not shown much hashrate rise to sustain and give the market higher bottomline support to encourage sustained growth

[indoagung88]

its the mining:market dynamics

when its cheaper to buy coin rather than mine it, people buy it. when its cheaper to mine it than buy it people mine it.
when prices get above a certain level and it becomes profitable to sell, people do that.

if a price exceeds this 'value' area and prices spike into speculation, expect it to correct back down into reasonable value area.
the only way to have sustained value increase is to have the costs of obtaining it sustainable. which for multiple years has been the hashrate. which while the whole sell off of s9's to be used on altcoins and the fresh purchases of s15(bing slow) to replace, and a upcoming(but not yet here) s17 range.. has not shown much hashrate rise to sustain and give the market higher bottomline support to encourage sustained growth

Well, I know about that part of the crypto market dynamics. But won't there be an opportunity to change quickly? Maybe bulls will be present in the near future? Hopefully this hope is answered by time. Thank you for the insight you gave ...

[AhmadM]

Just for your info that on 24th February (last week) the bitcoin price almost touched $4200, unfortunately, its only survive one day.

[RareFortune]

The market is evolving and price correction is happening, Bitcoin is still young and it would take some years before the full realization but I think the market condition has been affected through a lot of events like regulation, hard fork's, scammed projects and many more.

[NeuroticFish]

Is it because of the market that hasn't really recovered? or is there bad news?

I think that indeed the market is not fully recovered. The good news started to pile up lately. Bitcoin (and Ethereum) indices listed at Nasdaq are a good sign imho that Bitcoin is getting the right attention.
Of course, the seasoned traders (if/when they come) will fill their bags without affecting the price much.

The expectations are high, the halving is starting to be visible at the horizon. But this doesn't mean that Bitcoin will rise. Or at least not "tomorrow". The big speculators are still strong (actually they seem to grow stronger every day). Even a big dump is always possible. Many keep telling that the bottom is not in yet.

So.. yeah, TL;DR: no bad news, but we simply don't know what's to happen next.

[creeps]

Just for your info that on 24th February (last week) the bitcoin price almost touched $4200, unfortunately, its only survive one day.

We hit that price on a not so easy trend so I think the pressure on top is really high and that is why bitcoin was not able to sustain that level. We will see another trend like this in the future as we continue to try the resistance level to be broken. If there’s another pump this month, we can see a more strong price volume with bitcoin and hopefully to go beyond that and sustain it.

[HODL2090]

I think that indeed the market is not fully recovered.

What price is considered to be a recovery range? And more importantly, what is Bitcoin recovering from?
I have read numerous posts of how the last price spike was an anomaly and could not have been sustained by the current dynamics. Going by this, was the drop back not a recovery or correction of the value?

[LUCKMCFLY]

It is not difficult, since the level of $ 4k to $ 5k is easily achievable, the market needs to prove how the offer is in those levels, it can go back, but it is normal in this accumulation phase. We may be seeing this movement very soon, the important thing is to be prepared to react.

[NeuroticFish]

What price is considered to be a recovery range? And more importantly, what is Bitcoin recovering from?

Imho it's more about a trend, not a price. And with the late rather "chaotic" changes of direction, we don't seem to have a healthy market.
What to recover from? This is a good question! I think that a good answer would be the almost continuous downtrend in the last 14 months.

[HODL2090]

*...*

I do agree with the point of a healthy market, being what we need right now. The market has been on a downward spiral since the peak of Q4 2017.
I am also considering if this might be a pattern; price spikes over a short period of time shortly followed by gardual drops.

[AhmadM]

We hit that price on a not so easy trend so I think the pressure on top is really high and that is why bitcoin was not able to sustain that level. We will see another trend like this in the future as we continue to try the resistance level to be broken. If there’s another pump this month, we can see a more strong price volume with bitcoin and hopefully to go beyond that and sustain it.

Well, if there's monthly (hopefully) pump in the future I think it's not difficult to reach this level again and maybe with that way we can sustain the price.

[Teawhalee]

I think yet it’s not time to time for bitcoin to rise above the 4000$ because somehow we are still not yet at the bottom level which is why so many traders , investors and institutional investors are yet to move huge funds into the market. A lot of people have learnt from the mistakes of last pump action and won’t want to experience such anymore. Now it’s time to caution oneself to avoid unexpected loses. When it’s time , Bitcoin will move past the 4000$ and won’t even come back there again.

[kingpin4321]

Yes your observation are quite correct of late bitcoin has failed to surpass $4000 and even if it did at some point it could not maintain that level for too long I actually think that is the resistance

[sandra_x]

Part of the reasons is that 4000$ is a psychological barrier.It may take quite some effort to break it.Previous rallies went beyond this and dropped right below it just after they failed.Hopeful we will breake it mid March.

[aleandromagno]

I see something heavy and maybe difficult, when the price of bitcoin will touch $ 4000, then drop dramatically down. In your opinion, what is happening with the current condition of bitcoin. Is it because of the market that hasn't really recovered? or is there bad news?

This means that the trend change will last longer than everyone else wanted. It may also mean that the bear market is not over yet and the price will continue to fall. I hope that at next rises $ 4k will be exceeded and the price will go much higher.

[jossiel]

We have hit $4,000 few days ago and it's near to hit $4,200 IIRC.

Let's conclude that the market hasn't fully recovered base on it's price but if we're looking technically and fundamentally, a lot of good things are happening about bitcoin. The news? well it gives affection but I don't think that it fully depends on them. The market is now stand alone and is solely basing it's move to the demand, just don't listen to the bad news a.k.a FUD.

[iqlimasyadiqa]

I see something heavy and maybe difficult, when the price of bitcoin will touch $ 4000, then drop dramatically down. In your opinion, what is happening with the current condition of bitcoin. Is it because of the market that hasn't really recovered? or is there bad news?

There seems to be a limit made by large investors, they apply that bitcoin when it reaches 4,000USD, the price will decline again. we should have abilities. we together give confidence in Bitcoin. we can all change the price of bitcoin. there are always many wonders and there are always beautiful dreams in the end.

[TimeTeller]

What price is considered to be a recovery range? And more importantly, what is Bitcoin recovering from?

Imho it's more about a trend, not a price. And with the late rather "chaotic" changes of direction, we don't seem to have a healthy market.
What to recover from? This is a good question! I think that a good answer would be the almost continuous downtrend in the last 14 months.

People only set those certain range of "recovery" or "bottom price" that we might be wrong after all this time.
It is a very subjective matter so what we are doing right now is just to speculate.
We don't even know the real question to throw at people.
So this difficult rise is just one of those humps that bitcoin is experiencing at. Nothing special about it.

[samcrypto]

Its not that hard, but since manipulators want to have a short term profit then the market was alwast dump after hitting above $4k level. Don’t be in hurry, this is just a small price to achieve and I know bitcoin can do it again so relax and just monitor bitcoin price because rise is about to come again.