Bitcoin Breaks $5,600 As New Highs Are Achieved For 2019

[Netnox]

It looks like Bitcoin is struggling to breach $5.5K. The current scenario looks very different from what we had in 2017. Back then, there was strong demand which was neutralized by strong supply. But now, both the supply and demand looks weak and the overall trade volumes are down. So there is a chance that any upcoming rally will be more mild and moderate.

[Sanitough]

It looks like Bitcoin is struggling to breach $5.5K. The current scenario looks very different from what we had in 2017. Back then, there was strong demand which was neutralized by strong supply. But now, both the supply and demand looks weak and the overall trade volumes are down. So there is a chance that any upcoming rally will be more mild and moderate.

A lot had change, we are seeing a different approach this year but it's still good to see it rise.
The big difference now IMO is that only bitcoin is rising, altcoins are still in bear mode and therefore they could not contribute to the total volume.
However, looking on the comparison from last 2017 and today's trading volume, I can say there's also an improvement because volume now is $54 billion
according to https://coinmarketcap.com/,

[onecall123]

I was thought that this time Bitcoin may reach $6,000 but unfortunately we're encountering little pullback. Anyway, I have still nice feeling there lots of space to go. BTC dominance is over 50% and It has maintained its support zone for a long time overall summing up the situation with the exception of BTC blast sooner.

[jazmuzika217]

A lot of people in cryptoworld are now asking if this is the start of bull run. Good to see taht bitcoin finally reaching this level a little more pump and we can touch the $6k but right now bitcoin suddenly dump and after that we will move again, for the altcoin this movement is not good because their price slowly going down.

[harizen]

It looks like Bitcoin is struggling to breach $5.5K. The current scenario looks very different from what we had in 2017. Back then, there was strong demand which was neutralized by strong supply. But now, both the supply and demand looks weak and the overall trade volumes are down. So there is a chance that any upcoming rally will be more mild and moderate.

That 2017 strong demand is purely a hype. The attempt to bring the price upwards were aggressively push that results into people that just put money on cryptos thinking it's easy to have a decent profit out of it.

I also don't considered current demand as weak. It's just that, it's supposed the usual price movement.

Want to see a slow rise with good resistance at a certain level rather than a quick jump without any foundation.

[2chase]

What happened today and yesterday is quite an expected phenomenon because in the very near future bitcoin will have to show a sufficiently large growth force, it will happen in a week, and in a couple of months it’s not so important. What is important is that the market has now turned in the direction of growth and continues to increase its previously lost prospects and positions.

[Slow death]

It is all green once again across the top cryptocurrencies as Bitcoin crosses $5,600 for the first time in 2019

Now it's all red



you should already imagine that the panic sale already must have started and when this happens, many people do not sleep thinking that the price will fall to $1000... this is a cycle that will never end

A lot of people in cryptoworld are now asking if this is the start of bull run.

the problem is that people create many expectations and after the price falls a little they already panic

[exstasie]

Everytime the mempool gets full, it starts correcting:

https://jochen-hoenicke.de/queue/#0,2w

It's maddening that after all this time it's still not fixed

Obviously, it's clogging because transactions (buying/selling) also spiked.

Yeah, transaction activity between exchanges is probably spiking. It always does when price spikes. In addition, we have a new issue to contend with: spamming from the Veriblock protocol. It uses OP_RETURN transactions in Bitcoin to secure altcoins.

[snipie]

...
you should already imagine that the panic sale already must have started and when this happens, many people do not sleep thinking that the price will fall to $1000... this is a cycle that will never end
...

Unfortunately many people start selling once the price rises to grab as much tiny profit as possible...which will drive the bitcoin price down as usual.
I would say some expect it to be less than $1 which will not happen again!
For me till the price is sustainable above $5k, it is a good and a promising sign 

[Natalim]

...
you should already imagine that the panic sale already must have started and when this happens, many people do not sleep thinking that the price will fall to $1000... this is a cycle that will never end
...

Unfortunately many people start selling once the price rises to grab as much tiny profit as possible...which will drive the bitcoin price down as usual.
I would say some expect it to be less than $1 which will not happen again!
For me till the price is sustainable above $5k, it is a good and a promising sign 

They'll have to wait for forever if they are still hoping that $1 price, it's too late for them, they should have invested in the early phase.
$5K is really stable at the moment, this price behaves like we are in the $4K range, a little fluctuation but over time it rises, I'm seeing $6K here anytime soon.

[maxreish]

according to my graphic, its going to back 5270 to retest, then up to 6010.its not possible to brake 6k in first attempt so i think its going to stay between 5250-6000 for a while. i hope this scenerio will happen because alts going to breath and we really need that.

Been heard some of this from some websites. You sure had the same speculation, I guess. And that being said are happening right now. After breaking the $5600, seems it is now on a bear trying to go down at $5,200.

I strongly believe that $6,000 is really near.  Just a few recovery and corrections and another bull run will gonna happen.

[Netnox]

It looks like Bitcoin is struggling to breach $5.5K. The current scenario looks very different from what we had in 2017. Back then, there was strong demand which was neutralized by strong supply. But now, both the supply and demand looks weak and the overall trade volumes are down. So there is a chance that any upcoming rally will be more mild and moderate.

A lot had change, we are seeing a different approach this year but it's still good to see it rise.
The big difference now IMO is that only bitcoin is rising, altcoins are still in bear mode and therefore they could not contribute to the total volume.
However, looking on the comparison from last 2017 and today's trading volume, I can say there's also an improvement because volume now is $54 billion
according to https://coinmarketcap.com/,

Alts have gone down during the last 2-3 days. Initially, they were also in the bull mode. Bitcoin dominance is now inching closer to the 55% mark, and I think if the trend continues then it may even rise to 65% or 70% by the end of this year. A part of the lag with regards to the alts may be due to the negative incidents surrounding BSV.

[pooya87]

it is not "all" green.
just like always it is bitcoin price rising while altcoins are getting dumped and at the same time since they don't get dumped in equal size to bitcoin rise (in opposite direction) their USD value looks to be rising and it deceives the observers who look at coinmarketcap.com into thinking they have been rising. but if you are a trader and are in the market you will see how the price of them is dropping.

[justspare]

My guess is that in a few months we'il be close to 10K. This is because the price of bitcoin before halving always starts to rise. And I guess, it has just already started.

I think I agree that this rise is in preparation for the next halving, although the halving is still far, which is around May next year, but these signs are already enough proof that Bitcoin BULL will be a huge one this time around, with the improvements we are seeing now that the halving is still far.

So I don’t think I doubt the prediction that Bitcoin value might hit $150,000 at the peak of the bull run and if we look at the price value we have now, despite the fact that market is already increasing, it is still very cheap to buy now, so I think many investors would want to see the point now as another entry point, since we already have the green light.

[davinchi]

The new record set is a proof that the market will continue to get green even though the price has corrected, but since it has shown its strength to break above $5500, it shoes that the bulls in the market are active and doing better than the bears.  I see the next move after the correction to be $6000, so in a couple of week, I am hoping that BTC will break the barrier and head up for $6k.

I don’t expect much FOMO now, that is why its growth will still be slow in climbing, the moment BTC steps its leg on $6000, that is the time I really expect FOMO to do its JOB, if  FOMO picks the value, then the next we might be heading to before June will be $10,000, which I absolutely sure of.

[Reid]

2019 is a long year. If we keep on tracking every "new high" then this forum will explode with a lot of threads.

But I do love the slow upper movement. This could be a good sign inviting merchants to make it possible accepting bitcoin as means of payment.
That is all we are waiting for right? With its usage there will be slow pumps. Also, we will be the first to try it since we do have the bitcoin in our wallets now.

[buwaytress]

It looks like Bitcoin is struggling to breach $5.5K. The current scenario looks very different from what we had in 2017. Back then, there was strong demand which was neutralized by strong supply. But now, both the supply and demand looks weak and the overall trade volumes are down. So there is a chance that any upcoming rally will be more mild and moderate.

In fact, it wouldn't even have been a struggle if sellers had actually tried to put up resistance but they're not. Just check out the volumes, so thin, so unconvincing, which tells me, sellers are just waiting for that to go higher and happy to just let the weak walls fall down on their own once buyers run out of steam.

It's very strange to see this though, very strange. But importantly, nowhere like the 2017 scenario.

[el kaka22]

I think it does have little with halving, after all thats more than one year away from today and the movement started so it can't be just that. Obviously, I am not denying the fact that it does play a bit into this but giving all the credit to it would be wrong. I feel like the fact that everyone tried to sell their coins and the price didn't dropped under a certain level made it sure that short future people can't profit from the drops anymore, which made it possible for everyone teaming up together to break the barriers and get the bitcoin price higher.

Now that we are once again high and it is looking sunshines and rainbows we need to make sure those long future people profit from this so that we will keep the teaming up process going otherwise they will switch back sides again.

[Slow death]

...
you should already imagine that the panic sale already must have started and when this happens, many people do not sleep thinking that the price will fall to $1000... this is a cycle that will never end
...

Unfortunately many people start selling once the price rises to grab as much tiny profit as possible...which will drive the bitcoin price down as usual.
I would say some expect it to be less than $1 which will not happen again!
For me till the price is sustainable above $5k, it is a good and a promising sign 

They'll have to wait for forever if they are still hoping that $1 price, it's too late for them, they should have invested in the early phase.
$5K is really stable at the moment, this price behaves like we are in the $4K range, a little fluctuation but over time it rises, I'm seeing $6K here anytime soon.

even the people who invested in the initial phase had to be very patient, because I doubt that someone who bought when the price was 1 dollar has imagined that someday the price of bitcoin would reach $20,000. this is an investment equal to a lottery ticket, but with a greater chance of having profits in relation to a lottery ticket

[Oceat]

It looks like Bitcoin is struggling to breach $5.5K. The current scenario looks very different from what we had in 2017. Back then, there was strong demand which was neutralized by strong supply. But now, both the supply and demand looks weak and the overall trade volumes are down. So there is a chance that any upcoming rally will be more mild and moderate.

Actually, Bitcoin stepped at $5.6k if you look at the CMC but it's just too fast before it drops again to $5.4k. I think something is pulling it back that's why it can't break a new resistance level but this price is still quite reasonable and stable. A bullish market might not happen this year but we might expect it to happen next year since the next halving is almost near.