[2019-05-11] Six Months Later, Bitcoin Makes A Daring Comeback

[ruthbabe]

The last few months haven’t been exactly a smooth ride for Bitcoin and the larger crypto market. However, the market seems to be on a serious recovery mood at the moment, with Bitcoin leading the charge. In fact, according to a tweet quoting a Reddit post, Bitcoin seems to have already recovered from the sharp dip of late 2018.

Bears Have Retreated

About 6 months ago in November 2018, Bitcoin took a nosedive. Things got so bad that a lot of people called crypto winter. Since then, the crypto market has been largely on ice until something happened barely 3 weeks ago. The bulls stirred to wake and the bears went off.

At the opening of the week, Bitcoin was just recovering from a small slump caused by the negative news after crypto exchange Bitfinex emerged. Within a few days, the crypto has added some good percentages to its price. At the moment, Bitcoin is already clocking $6,800 and is expected to gain some more.

More Investors

Contributing to the twitter thread, a user opined that Bitcoin’s impressive recovery is bound to attract even more investors into the market. The fact that there are now many institutional investors dipping toes into the crypto business supports that opinion.

Source: ZyCrypto

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[CryptoBry]

About 6 months ago in November 2018, Bitcoin took a nosedive. Things got so bad that a lot of people called crypto winter. Since then, the crypto market has been largely on ice until something happened barely 3 weeks ago. The bulls stirred to wake and the bears went off.

And now we realized that a little bit too late that the crypto winter was the best time to get into Bitcoin, hoard as much as you can then just hold it no matter what. Those people who believe that the dip is the best opportunity to get in are now smiling as they can realize big profits out of their investment. I think this is just a cycle repeating again and again with Bitcoin though we sometimes get impatient and throw the white towel when in fact the fight had just started. The bull is now taking the market and it is now roaring with a big smile.

[o_e_l_e_o]

And now we realized that a little bit too late that the crypto winter was the best time to get into Bitcoin

Speak for yourself. A lot of us have been buying and accumulating for several months. If you believed in bitcoin at the ATH of $20,000, why would you stop believing in it when it dipped to $3,000. The technology is just as a strong, if not stronger now that we have growing SegWit and Lightning adoption, than it was at the end of 2017. If you aren't actively trading, then stop constantly worrying about the price. Either get in for the future, or don't.

[Betwrong]

And now we realized that a little bit too late that the crypto winter was the best time to get into Bitcoin

Speak for yourself. A lot of us have been buying and accumulating for several months. If you believed in bitcoin at the ATH of $20,000, why would you stop believing in it when it dipped to $3,000. The technology is just as a strong, if not stronger now that we have growing SegWit and Lightning adoption, than it was at the end of 2017. If you aren't actively trading, then stop constantly worrying about the price. Either get in for the future, or don't.

I agree, those who are not trading on a daily basis should just buy some BTC with the money half of which they can afford to lose, and forget about the market for several years. In the worst case scenario they will lose half of their investment(which is very unlikely though), in the best case scenario they will gain twenty-fold in return or maybe more. Being a poker player, I think of investing in Bitcoin as of going all-in with pocket aces, kings, queens, or jacks on the pre-flop: of course you can lose, but your chances of winning are pretty high, so if you are playing against someone who's balance is two times smaller than yours, you should definitely call the all-in.

[akamit]

I won't say Daring Comeback unless it didn't make strong foundations when the price of bitcoin climbing top.
We just don't need the bitcoin price to get a rise, also we need strong foundations otherwise there is a chance of a huge drop.

I haven't checked myself, but one of my friends told me a few mins ago that there is not enough support till $4200. So if it is true then we need strong foundations there imo.

[milewilda]

I won't say Daring Comeback unless it didn't make strong foundations when the price of bitcoin climbing top.
We just don't need the bitcoin price to get a rise, also we need strong foundations otherwise there is a chance of a huge drop.

I haven't checked myself, but one of my friends told me a few mins ago that there is not enough support till $4200. So if it is true then we need strong foundations there imo.

No one can actually point out if such rise is either having a strong foundation or not.We can really possibly see sharp price increase and dumps too thats why i wont be surprised if we would able to witness
some nose dive slump once again after this recent recovery.We are heading on 7k price and might able to reach 8k but same as yours i do much prefer on seeing gradual movement than on fast phase one.
This isnt a comeback and also i do like to see for those people who missed out that above 3k price opportunity to buy in but now they are seeing the price is tanking up to 7k.Theres no time to go back with those ranges.

[veleten]

never in doubt , was just the question of time when it happens
it happened now and instantly people are discussing if there is a foundation for this growth or it is just a mirage
somehow they were not surprised when it dipped to 3200$ or so and it all was "expected"
we forget that things cost as much as others are ready to pay for it at a certain point in time , bitcoin is about to break 7000$ mark
this means that there are investors willing to buy at this level and the trading volumes are going over the roof
the price is showing no signs of stopping its bull run , looks like we are going to break more records very soon

[akamit]

it happened now and instantly people are discussing if there is a foundation for this growth or it is just a mirage

Too Fast, Too Furious! Just now it crossed $7300... I'm steady growth believer... 

I'm happy with the price like everyone else. I will be happier if there is enough support so that the price doesn't fall back to below $7k

[1Referee]

the price is showing no signs of stopping its bull run , looks like we are going to break more records very soon

This is pure madness. It reminds me of what we saw happen in 2017. I wake up, price has increased. I go to bed, the price has increased even more. I wake up again, and the price has yet again increased.

Instead of opening a leveraged short, I sold some spot just over the $7000 level, but it seems to rush even further. It's currently about to break $7400 and who knows where it goes from there. This is yet again a good reason to not sell all at once, but sell in smaller fractions on the way up. The same applies to buying on the way down.

[veleten]

the price is showing no signs of stopping its bull run , looks like we are going to break more records very soon

This is pure madness. It reminds me of what we saw happen in 2017. I wake up, price has increased. I go to bed, the price has increased even more. I wake up again, and the price has yet again increased.

Instead of opening a leveraged short, I sold some spot just over the $7000 level, but it seems to rush even further. It's currently about to break $7400 and who knows where it goes from there. This is yet again a good reason to not sell all at once, but sell in smaller fractions on the way up. The same applies to buying on the way down.

yup , this is like a drug , I keep watching the volumes and price spikes like it is a movie 
what is interesting , for the first time in ages Bitfinexes price is lower than Bitstamp's :



it has almost always been vice versa , maybe someone can explain the sudden reversal

[CryptoBry]

I won't say Daring Comeback unless it didn't make strong foundations when the price of bitcoin climbing top.
We just don't need the bitcoin price to get a rise, also we need strong foundations otherwise there is a chance of a huge drop.

I haven't checked myself, but one of my friends told me a few mins ago that there is not enough support till $4200. So if it is true then we need strong foundations there imo.

No one can actually point out if such rise is either having a strong foundation or not.We can really possibly see sharp price increase and dumps too thats why i wont be surprised if we would able to witness
some nose dive slump once again after this recent recovery.We are heading on 7k price and might able to reach 8k but same as yours i do much prefer on seeing gradual movement than on fast phase one.
This isnt a comeback and also i do like to see for those people who missed out that above 3k price opportunity to buy in but now they are seeing the price is tanking up to 7k.Theres no time to go back with those ranges.

Bitcoin is rising lately and can be rising for more leading to the bull run maybe before the year ends. As to the strong foundation, I rarely read that it has something to do with this rise. In my own humble opinion, this is just another pump and dump cycle with the market now waking up and finding itself in love again with Bitcoin. I am sure that speculations can now be building up as it can be expected that soon Bitcoin can be reaching the $10,000 level.

[Jating]

Bears have retreated since February. They are exhausted and by that time we entered Feb, and thanks to that entity who pour $100 million after April fools, the market bounce back hard.

I agree that we have seen this before in 2017, wherein a lot of money keeps flowing from irrational buyers. Sooner or later though, retracement is due, but I don't think it will stop this madness.

[hatshepsut93]

the price is showing no signs of stopping its bull run , looks like we are going to break more records very soon

This is pure madness. It reminds me of what we saw happen in 2017. I wake up, price has increased. I go to bed, the price has increased even more. I wake up again, and the price has yet again increased.

Instead of opening a leveraged short, I sold some spot just over the $7000 level, but it seems to rush even further. It's currently about to break $7400 and who knows where it goes from there. This is yet again a good reason to not sell all at once, but sell in smaller fractions on the way up. The same applies to buying on the way down.

It's so interesting to compare the current market with 2016-2017 (I hodled during that time too). During the last cycle it took Bitcoin close to a year to double in its price from $200 to $400 before the halvening of 2016, but now we went from sub-4000 to $7,400 in just months, and the halvening is still 1 year away. I think everyone was waiting for bull run, and when Bitcoin started gaining momentum, no one wanted to be left behind, which caused even more momentum and so on. I think this year will be among the most interesting years in Bitcoin's history, as the current bull run is already a big surprise.

[o_e_l_e_o]

I think everyone was waiting for bull run, and when Bitcoin started gaining momentum, no one wanted to be left behind, which caused even more momentum and so on.

That's certainly part of it. I still think it's funny that the price can sit at $3500 for 6 months, and it takes for the price to double before some people start buying in. We saw the same thing with people FOMOing in at near-peak levels in 2017, and those same people selling at a loss on the way down.

If this price trend continues there will be an influx of new users and new money though, just like there was at the end of 2017. Google Trends is already starting to show an upward trend over the last few days, and a particular spike over the last 24 hours, for terms like "bitcoin" and "buy bitcoin".

[Betwrong]

I agree with all the excitement regarding the current market. We've been waiting for it for so long. When Bitcoin hit $7,400+ many people thought they missed their chance to buy at low price. But NO, Bitcoin, being a great thing as it is, has started going down a bit giving them that chance they thought they missed. Don't miss your chance now, is all I can say to them. 

[akamit]

As to the strong foundation, I rarely read that it has something to do with this rise.

Strong foundation has nothing to do with the rise, but it has enough to do with a massive drop.
Bitcoin must have strong foundation otherwise it will be like a P&D coin and almost all true bitcoiners don't want bitcoin to be a P&D coin IMO.

has started going down a bit giving them that chance they thought they missed. Don't miss your chance now, is all I can say to them. 

Those who missed the chances to enter the market at $3k, $4k, $5k, $6k are given another chance maybe to enter the market below $7k and maybe this could be the last chance. 

I remember when peoples were very negative when the bitcoin price was at $3k - $4k mark. If those peoples entered at $3k they could have made their investments doubled.

[BitHodler]

I remember when peoples were very negative when the bitcoin price was at $3k - $4k mark. If those peoples entered at $3k they could have made their investments doubled.

It looks easy, but in reality it's not that easy. Even if people invested below the $4000 mark, not many of them will be able to hodl through this rally. I'm sure that at least half of the buyers sold below the $5000 mark.

If you also add that a lot sell with the expectation of buying back lower, which certainly isn't impossible since we're still in a bear market, they will have even more incentive to cash out at every 5-10% increase.

At the end of the day, in hindsight you're either right or wrong, so some people will be happy seeing the price go up, and some will regret not having bought or sold too soon. That's life.

[Dilerium90]

Many critics did not believe that a cryptocurrency could exist according to the same technical laws as other currency markets. Many predicted a total collapse of Bitcoin. But as we see, everything is fine and maybe in the near future we will conquer new peaks and highs.

[akamit]

It looks easy, but in reality it's not that easy. Even if people invested below the $4000 mark, not many of them will be able to hodl through this rally. I'm sure that at least half of the buyers sold below the $5000 mark.

It's no way an easy task to decide when is the right time to enter and right to exit.

I remember in 2016 I invested in a coin with an average of 19 sats and that coin reached 13800+ sats and I couldn't decide to sale and exit. Now I'm the bag hodler. I had a mindset to sale at 15k sats and that was the problem I realized later.

And recently I've invested in an altcoin with all my USD and ETH savings and trying to set an exit price (it's like planning in advance), otherwise I afraid I'll be a bag hodler again... It's really not easy at all.

At the end of the day, in hindsight you're either right or wrong, so some people will be happy seeing the price go up, and some will regret not having bought or sold too soon. That's life.

As I got several past experiences, I'm now much worried to find the right time. Yead I know at the end of the day either I'll be right or wrong. Either I'll cry or laugh and do some party. Life is very tough indeed.

[Betwrong]

~

has started going down a bit giving them that chance they thought they missed. Don't miss your chance now, is all I can say to them. 

Those who missed the chances to enter the market at $3k, $4k, $5k, $6k are given another chance maybe to enter the market below $7k and maybe this could be the last chance. 

I remember when peoples were very negative when the bitcoin price was at $3k - $4k mark. If those peoples entered at $3k they could have made their investments doubled.

Just yesterday I found a picture, which looked funny and relevant, and I think it's worth sharing with you guys.



Only now it looks like $8000 will need to be added somewhere in the bottom right frame in the nearest future.