Chain Reaction?

[alexyong342]

Have cryptocurrencies bottomed? Has the bear market ended? Instead of reading articles that are written by writers mirroring the price action, bullish when the market moves up, shifting to bearish if the market moves down, what if you could put a number on the likelihood of your hypothesis?

If you believe December 2018 is the low, what does the prior evidence suggest? What is the likelihood of this assumption being true?

https://www.altcoinsidekick.com/blog/chain-reaction

[traderethereum]

I guess cryptocurrency has already bottomed in the last year. But it could happen again since we don't know what will happen next.
We still need to be careful from the unknown situations.
December 2018 is a new beginning for bitcoin but I don't think that year will be low.
Unfortunately, I don't have good skills to determine if that year will be the low year.

[Genemind]

Believing in different speculations from different crypto believer's analysis would be quite deceiving and might just lead us to uncertain confusions. As for me, it's still important to have our own observation and disposition rather than defending our decisions in different people who are also unsure of every market situation.

[Adriano2010]

I also believe that bear market end last year, and not is a period of grow and after a bit drop and again a good grow, and now is still a good time to invest, and i think we can have a bull run possible before next bitcoin halving.

[1Referee]

I do believe that the price has bottomed, but I don't rule out another sub $4000 visit. You don't know for sure beforehand if the bottom is actually in, but I put my money where my mouth is and that's between $3000-$4000. If it isn't in, I'll buy more, it's that simple.

Last year the price also went up quite hard in April, and it started tanking in May, which I believe was around the time the Consensus event was going on. It failed to break the $10,000 level at that point. This month we will have another Consensus event, starting May 13th. I'll closely watch the market behavior around that time and see if we will have a similar situation play out.

Unfortunately, I don't have good skills to determine if that year will be the low year.

It's not your fault. No one has the skills to determine where the bottom is. All we can do is guess and long/short based on what we think will happen. We're either right or wrong at the end of the day.

[Febo]

Have cryptocurrencies bottomed? Has the bear market ended? Instead of reading articles that are written by writers mirroring the price action, bullish when the market moves up, shifting to bearish if the market moves down, what if you could put a number on the likelihood of your hypothesis?

If you believe December 2018 is the low, what does the prior evidence suggest? What is the likelihood of this assumption being true?

https://www.altcoinsidekick.com/blog/chain-reaction

Yes there was a bottom in December. Hash rate decrease a month latter confirmed it. It happened same in 2012 and 2015.

[BitHodler]

Yes there was a bottom in December. Hash rate decrease a month latter confirmed it. It happened same in 2012 and 2015.

Hashrate didn't confirm anything. Hashrate is just people voting with their machines that they think the price will go up or down. The price could have easily gone down further, which would have forced some miners to quit.

Last year people were so confident that miners needed $6000 to mine profitably, that they legit believed that the price couldn't drop below the $6000 mark. The market has spoken afterwards. People couldn't be more wrong.

Difficulty adjustments are in place to make mining profitable again with less hashrate, which is something people completely disregarded. At the end of the day, traders/investors make the price, not the miners....

[exstasie]

I do believe that the price has bottomed, but I don't rule out another sub $4000 visit. You don't know for sure beforehand if the bottom is actually in, but I put my money where my mouth is and that's between $3000-$4000. If it isn't in, I'll buy more, it's that simple.

Market sentiment felt like this in both November 2014 and July 2015. I have no doubt we'll dip to much lower price levels like the $4,000s or $3,000s although these new highs have probably bought us a few more days of uptrending.

The Bitfinex FUD has caused prices there to rise over $6K and that's definitely affecting the market. If/when Bitfinex and Tether actually implode and/or face unsustainable regulator actions, we're going to see some very harsh downside. It's impossible to know when that'll happen though.

[ajqjjj]

I also believe that bear market end last year, and not is a period of grow and after a bit drop and again a good grow, and now is still a good time to invest, and i think we can have a bull run possible before next bitcoin halving.

All the peoples are expecting the bear market because every year some hype was happening in end of the year. But reality is totally change so all are move to altcoin side it was a big dump of end of the year. I think current pump was already noted in many investors because every year may month was supporting to Bitcoin. So I think next halving also possible on next month or later But this month all are happy to enjoy the Bitcoin hype.

[sheenshane]

As one of the pioneers of this industry. I have realized that it is really hard to expect so much, but you have to keep in mind that everything is possible. I still remember the days when the bitcoin's value was 400 USD. That is one of the moments where people are getting excited about the bitcoin that we have expected that it was actually the highest value of the coin.

What we did was we agreed with our opinions merged and decided to sell our coins in that margin because we knew that it was the possible highest value. We ended up becoming very disappointed that the bitcoin reached below 4,000 USD.

Now, what I can advise is that it may sound cliche but, we have to expect that bitcoin will rise and now we are facing again into bull run.

[adaseb]

In my opinion there are way too many bullish people at the moment when we are essentially sitting on a major resistance area. Basically the $5800-$6000 was the support of last year and most likely will be strong resistant, we are currently at that level.

I think there might be alot of manipulation at these levels, basically I wouldn't be surprised if we got a bear trap followed by a bull trap. We might hit $6000, start to go down, alot of bears will short, and then we might break $6000 stall at $6050 or so and head down.

This way both the bulls and bears get burnt and the market makers are happy by their profits.

[sunsilk]

I'm one of those people that believes that we have already bottomed out. Nothing wrong to see people that are still expecting bitcoin and altcoins to bottom because they probably missed those moments when we're on the $3k.

As we can see with the market today, everyone starts to realize that we're actually going bullish but that doesn't make me comfortable to say that because the market is very unpredictable. But, I'm very satisfy with what we're seeing right now. Yesterday or few days ago, bitcoin was just around $5,300 and here we go now, $5,800.

[Viscore]

Have cryptocurrencies bottomed?

I think so, I believe we had experience a major dropped last year and even at the end of the price, price has no signs of recovery.

Has the bear market ended?

I can't tell but I believe bear market already ended, my reasoning is based only on the price movement this year where more price action is bullish.
I could be wrong, but I have to stand on what I believe as I'm tired of seeing the price pump a bit but dump hard again.


The volume is also a good indicator, currently the 24 hours trading volume in the market is over $50 billions dollars.

[TravelMug]

Have cryptocurrencies bottomed?

I think so, I believe we had experience a major dropped last year and even at the end of the price, price has no signs of recovery.

Has the bear market ended?

I can't tell but I believe bear market already ended, my reasoning is based only on the price movement this year where more price action is bullish.
I could be wrong, but I have to stand on what I believe as I'm tired of seeing the price pump a bit but dump hard again.


The volume is also a good indicator, currently the 24 hours trading volume in the market is over $50 billions dollars.

Exactly, trading volume is up, similar to what we have seen in 2017's bullish trend. So a indication that we are out of the bear claws for now. Next target will be $6k so let's see if we can touch it next week.

Bears are exhausted and at this point I don't see them wrestling the market from the bulls. So from every angle most likely we are in the bullish zone already.

[thecodebear]

I think its pretty obvious since the night of April 1st when Bitcoin broke out of the bottom of the market that the bear market / bottom of the market is over. 3000s and 4000s are gone forever. In the next couple months 5000s will be gone forever too, then 6000s, and so on as the bull market slowly heats up. I expect it to continue for a long time what its been doing this past month, push a little higher and then correct a little bit, continuing a series of higher highs and higher lows as we've already had multiple times since Bitcoin broke out of the bottom of the market.

HODLers just sit back and watch with a smile on your face for the next couple of years or keep accumulating with a smile on your face. Traders buy each correction and sell on each pop upwards and just keep doing that.

[Siren]

Have cryptocurrencies bottomed? Has the bear market ended? Instead of reading articles that are written by writers mirroring the price action, bullish when the market moves up, shifting to bearish if the market moves down, what if you could put a number on the likelihood of your hypothesis?

If you believe December 2018 is the low, what does the prior evidence suggest? What is the likelihood of this assumption being true?

https://www.altcoinsidekick.com/blog/chain-reaction

You have posted this at march 3 and you are telling us that December 2018 is the lowest?common man you're impossible

The bottom is march when you had created this topic because.month after in which last month is the start of the growing market and now we arw at bull almost hitting $6,000 early this day

[Yaunfitda]

I think we have bottomed out and we will not see a bitcoins at 3500 again, but I still expect to see a retest of 4-5k  in the next few months. However, if Bitfinex and Tether collapse we cut see bitcoins either fall to 1k or go to 10k

Definitely, there's no way that we can get below $4k now. The price is really stable and it's climbing up like everyday. And I disagree about the retest, what we are going to see is the price goes $6k again and it will trade it sideways like we used to see prior to the massive drop.

But it doesn't mean that the price will go down, it will just go trade sideways and we will break another trend and push it maybe around $8K-$9K at the end of the year.

[prtty2gal2]

I think we have bottomed out and we will not see a bitcoins at 3500 again, but I still expect to see a retest of 4-5k  in the next few months. However, if Bitfinex and Tether collapse we cut see bitcoins either fall to 1k or go to 10k

You are right, based on my opinion and what I have seen too through analysis, I think we have bottomed, but to see that $4500 again is very scarce in chance, having studied the price movement of BTC for the past few months, I realize that the only time bitcoin respond in value is when good things are said about it in the market.

For the past few months now, it has been very difficult for any FUD to really get hold of BTC market; even the tether news that came out recently could not even affect the value of BTC negatively, so I still don’t think any crash in those stable coins will have any negative effect on the rice of BTC.

[wuvdoll]

I think the prices already bottomed out but it doesn't mean the bull is already here. I think what we are seeing is either a bulltrap right now so that more people go long on bitcoin so the whales could trap them there and get cheaper short futures and make insane amount of money from the upcoming fall or it could be start of a bull the early days at least. We still don't know which one is the real fact but we know that it is either one or the other because price definitely went up as a fact.

We will know about it according to what the price will do, if it goes even higher than we can call it a bull but if it drops lower all of a sudden (even if not to 3000ish levels but to 4500) we can call it a bulltrap but no matter what happens the price will probably not see those 3200-3400 levels ever again.

[exstasie]

I think its pretty obvious since the night of April 1st when Bitcoin broke out of the bottom of the market that the bear market / bottom of the market is over. 3000s and 4000s are gone forever. In the next couple months 5000s will be gone forever too, then 6000s, and so on as the bull market slowly heats up.

You bulls are way too confident. We haven't even broken above the $6K structural resistance let alone held above it, yet you're confident we'll soon never see the $5,000s again?! We haven't even left the $5,000s yet!

Shorts are still so high and Bitfinex users are still running scared (hence buying crypto to get out) so there may still be some upside. But I'm sticking with the plan from December when I called the bottom: we're near resistance and a lot of pain is coming.

This overconfidence from bulls (all over this forum and Twitter) is strongly hinting a crash is coming soon. I feel we've still got a good shot at hitting the $3,000s again. The 200-week MA is in the $3,500s right now.