Does any body know what happened to today's price?

[STT]

5100 on some exchanges, no need to hang off every digit when its a price quoted globally in many nations currencies.    Really its time that matters, half the world is asleep and hasnt agreed with the rise yet

Obviously, it will fall back to 4,000 these days

nah not obviously, that to me would be surprising.   Sure if its bearish over time then maybe but to run through walls and then casually go back is not normal.     Its gone through the 200 day moving average and theres good argument for late buyers to enter the price if anything. 

Really this is part of the story to go back to 6500 and check thats accurate or not.    Theres a bit of a vacuum until then generally, I did think it would go a bit slower but shorts forced closed would make sense

Hopefully this doesn't fade and we get a weekly close below $4200

I think so, watch how it deals with 200 DMA if anything.  First range is 4730 to 5200

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[egyptian magician]

Since it happened overnight for the West which is kind of unusual, my theory is that enough traders in the East were fooled by the April 1 fake news of ETF approvals that it triggered a FOMO up to 5k.

[South Park]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

a key resistance ($4200) was broken. lots of stop losses were sitting right above that breakout area. looks like some big liquidations too. margin calls + stop run = fast price movement. it doesn't necessarily indicate a new bull market or anything, just that temporarily shorts were heavy, supply was low and demand was strong.

i'm really glad to see this breakout though. it's the first weekly higher high since december 2017. i think we're really carving out a bottom range now. give it 6 more months and we might just have ourselves a bull market.

For reference, look at October 2015, same thing happened to start the last bull run.

way less time has passed this time, with a much less significant breakout. we're gonna form the upper end of a range with this rally IMO. i think people are getting a bit too overexcited right now.

Then is the capitulation currently out of the picture?

Because I believe it's already out. The market has adjusted, and learned from the past that selling on panic is a "no no".

The ones that needed to learn that lesson were the weak hands and they were precisely the ones that sold their coins for a bad price so they learned nothing and the ones that remain in the market learned nothing as well since they are holding their coins knowing that the recovery is inevitable, so it is likely that if the same people that invested in bitcoin and lost money during the last crash invest in the market again they will lose their money.

[harizen]

Since it happened overnight for the West which is kind of unusual, my theory is that enough traders in the East were fooled by the April 1 fake news of ETF approvals that it triggered a FOMO up to 5k.

Disagree with the theory. Although maybe there's a chance.

Traders are matured enough not to be driven by the hype of anything after all that we are struck in bearish market for over a year. They are doing research before placing trades. 2018 is the year of hard testing strategies on how to deal with the bear market so FOMO shouldn't be the case in today price movement.

And even there are fooled by fake news, I doubt they can move the price for where it is currently.

[mrdeposit]

This is just a good increase, and perhaps the beginning of the return of the bull market. There was a good increase as much as expectation of experts' decrease. This pleasing situation will lead us to good prices.

[figmentofmyass]

The bottom range pretty clearly was 3100 - 4200, which lasted some 4.5 months.

what are you talking about? it hasn't even been 4 months since the bottom.

how are you gauging what the "bottom range" is? how do you know you're not just focusing on a few months within a larger range over a longer time period? why do you expect this bear cycle to end so much faster than the 2014-15 cycle?

Its been in that range for 4.5 months, with the actual literal bottom (lowest price) coming 3.5 months ago. The bottom in 2015 ended with a large spike after breaking through resistance. That's literally what happened tonight.

in 2015 we broke through a much more established and long term resistance. by your parameters, the bottom range in 2015 was 11 months long and the top of the range was tested 3 discrete times (january, march, july) before finally breaking in november.

there's just no comparison to the current chart in terms of time or magnitude. it's like comparing an hourly candle chart to a daily chart; they are worlds apart. the only long term resistance in question is the $6000 zone and we're still quite far from breaking and holding above there.

The bear market lasted only about two months less this time (took 14 months in 2014, took 12 months in 2018)

it took 23 months in 2014-15 to confirm a reversal---november 2013-october 2015.

this time around it's TBD since we haven't come close to confirming a reversal. but we're at the 15-month mark now.

Maybe you define bottom differently. But I would define it as the bottom of the market, in which bitcoin was stuck range bound near the absolute bottom and under high resistance at a specific level, and once that resistance broke it is able to spike up unlike anything seen during the bottom. Defines what we saw with the bottom in 2015 and now.

that's a really vague definition that gives no sense of time or magnitude. the october 2015 breakout was much, much more impressive and technically significant. in 2015, it was a 230% rise through a thrice-tested resistance formed over 9 months. this time, it's a 60% rise through a twice-tested resistance formed over 3 months. it's a medium term breakout, not a long term one.

i've been trading for a nearly a decade, long enough to know that it takes lots of time to reverse from bear markets. you don't crash for a year straight and shoot into a bull market 3 months later. it doesn't happen in any markets, and it certainly never happened in bitcoin. the fact that so many bottom callers are coming out the woodwork now is a classic sign that we'll continue the bottoming process over the next several months.

[figmentofmyass]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

a key resistance ($4200) was broken. lots of stop losses were sitting right above that breakout area. looks like some big liquidations too. margin calls + stop run = fast price movement. it doesn't necessarily indicate a new bull market or anything, just that temporarily shorts were heavy, supply was low and demand was strong.

i'm really glad to see this breakout though. it's the first weekly higher high since december 2017. i think we're really carving out a bottom range now. give it 6 more months and we might just have ourselves a bull market.

For reference, look at October 2015, same thing happened to start the last bull run.

way less time has passed this time, with a much less significant breakout. we're gonna form the upper end of a range with this rally IMO. i think people are getting a bit too overexcited right now.

Then is the capitulation currently out of the picture?

Because I believe it's already out. The market has adjusted, and learned from the past that selling on panic is a "no no".

i don't think the market has learned anything. it just panics in both directions---that's what markets do, especially speculative and thin ones like bitcoin. bulls get squeezed, then bears get squeezed, rinse/repeat.

i've been calling a relief rally to $5k+ for months now so IMO nothing has changed. when this rally runs out of steam, the pendulum will swing back like it always does and sentiment will turn uber bearish with everyone expecting new lows.

whether we actually get those new lows (and a classic capitulation) is another matter. it's certainly possible (just look at past bitcoin bottoms), especially if everyone agrees it won't happen. but no matter what, i'm confident we won't be springing into a new bull market from here. bulls have been on easy street for the past couple months and they're gonna have their meddle tested, starting with the late buyers who are buying now and higher.

[Wind_FURY]

Since it happened overnight for the West which is kind of unusual, my theory is that enough traders in the East were fooled by the April 1 fake news of ETF approvals that it triggered a FOMO up to 5k.

Disagree with the theory. Although maybe there's a chance.

Traders are matured enough not to be driven by the hype of anything after all that we are struck in bearish market for over a year. They are doing research before placing trades. 2018 is the year of hard testing strategies on how to deal with the bear market so FOMO shouldn't be the case in today price movement.

And even there are fooled by fake news, I doubt they can move the price for where it is currently.

I believe only a moron would be fooled by the fake news about the ETF's approval. A whale-cumulator bought a lot of Bitcoins, which closed plebs' short-sells on margin, causing a big green candle, and the rest of the exchanges followed. Simple!

[Adriano2010]

I think only a group start buy bitcoin and this cause the grow but, i wish more people join crypto and start  buy some bitcoin and maybe this will cause the price to go over 10000.

[bitgolden]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

Are you kidding me, do you know how many people have waited for this moment and you want to create unnecessary FUD in the heart of investors, if you are really a lover and believer of BTC, it is better we don’t carry such negative news and you and I know that news plays a very great role in the development and growth of its price.

What we need right now is to keep the trend lively and on by speaking and predicting positive things about the market against anything technical or fundamental analysis must have shown us. For me, I believe bitcoin will grow from this price it is presently to almost $6500 by the end of April.

[Rub3n]

No one really knows, all just speculation, except if the big buyers will call themselves out including their reason. Not expecting that to happen eh?

[livingfree]

I hope the price will crash tonight. Because I already sold out my Bitcoins...

I don't think it will crash quickly, I've sold earlier too this day and that's what I'm regretting a bit but that's how life goes. Whenever I sell, there's a very fast pump that happens and I thought that was just me. I don't wish that the price will crash tonight, let the market work on it's own.

Let the rise happen accordingly and naturally, I do also puzzled with this current pumped, its more than 10% that we are enjoying compared to those previous where it can't passed 10% increase but I'm with you as well, seeing the rise to continue and gained even more stronger barrier, more investors
will be attracted back if this bull keeps pushing harder.

I'm correct that it didn't crash quickly, price seems to be stable and those support levels that speculators are mentioning hasn't been met. Instead of going down to that point and speculation, bitcoin keeps on surprising us and reached $5,200. Many alts are following now the king and these speculations keeps on going. Now, expect that there will be people who have been expecting this to go down again. FUDs, as usual will come out and will tell people don't buy bitcoin.

[Pab]

Nothing special is happening
It was so long waiting on around 200$ level now we were waiting long time on just above 3k level
It looks like people have forgot  it is btc and how it can goes

[DeadCoin]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

It has crossed more than $5250 now and not able to make decision if either to buy now or wait for a day to see the price go down. A good pump is seen in last two days though and expect this to continue for at least few more days. But really no idea the reason behind it. But this is not a bull run.

[Supercrypt]

I believe only a moron would be fooled by the fake news about the ETF's approval. A whale-cumulator bought a lot of Bitcoins, which closed plebs' short-sells on margin, causing a big green candle, and the rest of the exchanges followed. Simple!

The market has lots of unpredicted factors that could have contributed to its speedy rise in price, and so we may not easily conclude that it was has a result of whales, there might be fundamentals that contributed to this which we may not find easily on the news to really conclude it was the cause.

Just like this morning now, I found out that PayPal has already adopted the blockchain technology too which I was never aware of until this more, and nobody knows the exact move they might have made too that could also had to this price surge, so let us not conclude its whale action, it will make lots of investors panic sell, which will not be in favor of the whales that are already existing in the market.

[MMA]

Nothing special is happening
It was so long waiting on around 200$ level now we were waiting long time on just above 3k level
It looks like people have forgot  it is btc and how it can goes

Yes that is right, there is nothing special even for today about the market. But one thing is clear from the stable market that now the bull run is waiting and hopefully very soon price will boost to a very good level. We need to remain calm and wait for good time to come back.

[gabmen]

Nothing special is happening
It was so long waiting on around 200$ level now we were waiting long time on just above 3k level
It looks like people have forgot  it is btc and how it can goes

Yes that is right, there is nothing special even for today about the market. But one thing is clear from the stable market that now the bull run is waiting and hopefully very soon price will boost to a very good level. We need to remain calm and wait for good time to come back.

Well the thing is, people are always making a big deal out of a simple pump or dump. It sometimes make for anxiety when or too much unnecessary excitement. I think the price would stabilize around it's current value now and let's just see where it goes from there.

[Fedrey]

Nothing special is happening
It was so long waiting on around 200$ level now we were waiting long time on just above 3k level
It looks like people have forgot  it is btc and how it can goes

Yes that is right, there is nothing special even for today about the market. But one thing is clear from the stable market that now the bull run is waiting and hopefully very soon price will boost to a very good level. We need to remain calm and wait for good time to come back.

I believe that many users of cryptocurrency have lost confidence in Bitcoin after the fall in prices in 2018. Especially it is necessary to take into account the fact that many users of cryptocurrency invested their funds in 2017 and now have very large losses. There is an opinion that it is much more profitable to invest in other projects than in Bitcoin and wait for a possible price increase.

[Ahiaba]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

You are so optimistic that it will fall back to $4000 in the coming days and if I may ask, what will be responsible if it eventually fall back to $4000 as you speculated.

[DoublerHunter]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

You are so optimistic that it will fall back to $4000 in the coming days and if I may ask, what will be responsible if it eventually fall back to $4000 as you speculated.

It might have a big correction that makes price dragging down or possible continue growing up and boost the price up^. Nobody knows if someone knows then it might be able to predict the right possible happen in the market.
Anyway, why we think too much ahead of time regarding the price happened, don't ask a stupid question, we know that the price is unpredictable and of course nobody knows. Majority of some holders now hoping again that it will not back to the bottomed price that we experienced last year and this small spike will lead to resistance market price and bull run will happen.