Has the market completely recovered

[ifykiki]

What is the reason for the recent bullrun? Was there any news because I didn't hear of anything or did a big whale invest?

[bathrobehero]

Not sure. You might find some more info speculation on the Speculation board: https://bitcointalk.org/index.php?board=57.0

[blockman]

There's 'one mystery buyer'.

(https://dailyhodl.com/2019/04/02/massive-bitcoin-whale-triggered-btc-surge-with-100-million-order-says-crypto-investment-firm-ceo/)
(https://thenextweb.com/hardfork/2019/04/02/mystery-buyer-bitcoin-price-5000-cryptocurrency/)

[btc_angela]

What is the reason for the recent bullrun? Was there any news because I didn't hear of anything or did a big whale invest?

At this point we can't really say what trigger this massive pump, there were some speculators saying that some big whales buy a tons of bitcoin, other say it started in Japan, other says its the Bakkt proposal. So we can finally see what triggers everything when the market have settled down. But it is still going to we might not find the real reason. Probably will take days to analyse it.

[Wind_FURY]

What is the reason for the recent bullrun? Was there any news because I didn't hear of anything or did a big whale invest?

At this point we can't really say what trigger this massive pump, there were some speculators saying that some big whales buy a tons of bitcoin, other say it started in Japan, other says its the Bakkt proposal. So we can finally see what triggers everything when the market have settled down. But it is still going to we might not find the real reason. Probably will take days to analyse it.

Or it's nothing but another common pattern in Bitcoin called the "Bart Simpson" movement, because of the inefficiencies of the market. If that's what we have, then I believe we would see a big red candle back to $3,800 - $3,900 in a few weeks.

[greeklogos]

I also have the same questions and looking for answers for it. At the same time I think it is too early to say about coming back of bull market and to expect that the raise is going to lead long. We may only hope for that.

[iv4n]

In this moments you make profit, or you can be greedy and wait for higher rise. Is this recovery, no this is a cycle, after long time of down trend we are finally in some sort of bull rise, but it`s not going back to 20k just like that, we still need to be patient for that. This is rise is a great thing, but in this rises you are waiting for good moment for selling if you bought at +3000 dollars, it`s how you need to trade, don`t live in illusions that price will go very high, remember every rise have it`s top, like every drop has it`s bottom.

[STT]

Or it's nothing but another common pattern in Bitcoin called the "Bart Simpson" movement, because of the inefficiencies of the market. If that's what we have, then I believe we would see a big red candle back to $3,800 - $3,900 in a few weeks.

There was already more then a Bartman in action, to go back that far would have to break past 200 day average and also break the uptrend that was in play since February.     I think the Bart formation is for smaller moves then this.
One of the reasons it rose was it ran out of space on a trend of rises from the lows and the not very solid ceiling of 4000 or so.   Round numbers dont really count as resistance, they dont exist in other currencies

To answer OP no the market is doing part of a recovery not an entire reversal in one day

[DoublerHunter]

I also have the same questions and looking for answers for it. At the same time I think it is too early to say about coming back of bull market and to expect that the raise is going to lead long. We may only hope for that.

Bitcoin it takes a long time before we can be called it a bull run happen, maybe you are right it is now early to conclude that the bull run will come and I guess that is the normal fluctuation on bitcoin. I'm not on the negative side of bitcoin. I'm still hoping that it will continue raising up until it will hit the 10K dollars it the last quarter of the year. However, let us just wait for the current situation of the market and for sure it will happen.

[Shinpako09]

Eh? you consider that as a bull run already? It's not completely recovered yet because we haven't reach the ATH and surpass it. The price might be showing a good show recently but it's too low and early to say it as bull run.The price doesn't even last long in $5k and drop down a few hundred of bucks again.

[figmentofmyass]

Or it's nothing but another common pattern in Bitcoin called the "Bart Simpson" movement, because of the inefficiencies of the market. If that's what we have, then I believe we would see a big red candle back to $3,800 - $3,900 in a few weeks.

There was already more then a Bartman in action, to go back that far would have to break past 200 day average and also break the uptrend that was in play since February.     I think the Bart formation is for smaller moves then this.
One of the reasons it rose was it ran out of space on a trend of rises from the lows and the not very solid ceiling of 4000 or so.   Round numbers dont really count as resistance, they dont exist in other currencies

To answer OP no the market is doing part of a recovery not an entire reversal in one day

yeah i doubt it will bart top since we've just broken out of a medium term consolidation. bears should be left chasing for the next couple weeks so i doubt we'll just go sideways. i agree with Wind_FURY's overall sentiment though, that this rally will get sold into and we'll go back to retest the $3000s afterwards. it might take a month or two to get back there though.

[BitcoinHodler]

why is it that every time we see a small rise people call it "bull run" and every time we see a tiny drop they call it a "dump or bear market"? do people don't know what these terms mean or are they just overly excited when it comes to bitcoin?

as for recovery, we have not yet recovered completely because price is still below $6k and the actual bull run which has been postponed 6 months ago has not yet started.

[Adriano2010]

Maybe some whales buy it and want to have more bitcoin and hold until bull run, maybe in medium term we will see the price over 10,000$. I think first need to bypass 5000$ resistance.

[greensheep]

That this move will correct at some point is obvious.
Question is how high will it go go before correcting and how much this correction will be (I expect some 30-40% correction)
I suspect 5.8 - 6K area to be huge resistance, it might get pierced on the upside, and then sold.
On the other hand if LTC leads the way (broken trough 360 MA, 6.5K could be in the cards.
6.5K x 0.7/0.6 = 3.9 - 4.5K
6 K x 0.7/0.6 = 3.6 - 4.2K
maybe the 200 SMA will hold during the correction (around 4.5-4.6K)
Exciting times!!

[figmentofmyass]

why is it that every time we see a small rise people call it "bull run" and every time we see a tiny drop they call it a "dump or bear market"? do people don't know what these terms mean or are they just overly excited when it comes to bitcoin?

as for recovery, we have not yet recovered completely because price is still below $6k and the actual bull run which has been postponed 6 months ago has not yet started.

that's what i'm thinking as well. short term, i think this rally still has some legs. but i think it'll get rejected hard at the $6k zone or earlier and we'll continue forming a bottom range for several months afterwards. this is mostly shorts being squeezed and bottom sellers buying back in IMO. i don't think much new money is flowing into the market.

[NeuroticFish]

i don't think much new money is flowing into the market.

Maybe not *that* much, but the fact some altcoins are also rising compared with Bitcoin, known altcoins that were falling deeper and deeper since the money started to go out of cryptos, tells me that some inflow does happen.

But I also agree that we can't talk yet about a clear recovery. 1-2 big green candles are not a trend (they can set one though).

[klaaas]

The speed it took was impressive but i cant say recovered. Lets see if this will hold or keep up on the daily chart.
As Wind_FURY said, a bart simpson pattern is still luring.

[STT]

we see a small rise people call it "bull run"

To be fair to people, the rise is 20% which is a giant move for the price of most things.   But in Bitcoin its more normal for it to be volatile.    I agree that a bull or bear market is not 1 movement but a series or trend that is ongoing and can be bought into generally by a variety of holders not just over night traders.

Its not a bad call this time to be honest, this is a sharp rise true enough but also its a rise coming on the tail of a series of gains over months since December.    It might be a bad call to call it a bull but this is a series of rising low prices that has turned into a spike upwards

[Fredomago]

Maybe some whales buy it and want to have more bitcoin and hold until bull run, maybe in medium term we will see the price over 10,000$. I think first need to bypass 5000$ resistance.

That's very possible, the whales can easily buy huge amount of Bitcoin and hold till the next halving happens, it's up to them how to work it out with the market and win over the momentum, they just know very well how things can be done and enjoy the benefits after.

[buwaytress]

Don't bet on it. I'm as ecstatic as any of you... Seeing Bitcoin do a 20% jump when fundamentals were against that, and then seeing a quick scaling attempt after fallimg to 4600, says a lot about buying appetite. Sure, this was a a pump, but it doesn't seem to have been purosely orchestrated. Just an algorithm that was allowed to execute.

Be nice to get some breathing space for a few weeks, but we should spend some time in momentary correction before splashing out the cash for 5.5k.