Road to $8k? Bitcoin parabolic curve kinda dangerous

[cheezcarls]

Hey there guys!

If you’re into Bitcoin trading, this one’s for you. I would like to share my newest blog post about the recent uptrend of Bitcoin, Ethereum and other cryptocurrencies in today’s market condition.

Despite that the market is heading north, there’s a big catch. I would like to share why the parabolic phase of Bitcoin and others are slightly dangerous despite the uptrend, which we are experiencing it right now.

I hope this info of mine helps you a lot, especially those who have no idea about this yet. Just a heads up only if you’re into BTC trading.

Link here: https://steemit.com/bitcoin/@cheezyboy/road-to-usd8k-bitcoin-parabolic-curve-kinda-dangerous

Note: I’m not a financial advisor, nor an expert in Bitcoin or crypto trading. I’m just stating my opinion on this one. I would welcome all of your feedback or opinion about this one, and I would really appreciate if you guys do.

[funchiestz]

Everybody writes a script for Bitcoin. But the only thing to know is that Bitcoin doesn't have any rules on price. And he doesn't listen to anyone. It is easy to see that FOMO has been activated once again in Bitcoin. We're gonna see how far together we're going.

[Adriano2010]

Do you think will happen that after price go to 8000$ to go way down and no one to expect that happen? I think you are probably right and people should expect to anything.

[ajqjjj]

Any spike like these is always dangerous, but we need to take in consideration what is causing this. I think the trade war is a big factor here, people are losing confidence in the stock market

If you compare to stock market and crypto market totally different from each other. Because it is the best month for Bitcoin but stock value will varied in all the time so we can earn good profit at many times in stock market. Bitcoin is the only king of crypto market so this month is the good earn days and we should invest in Bitcoin surely make good profit in short term.

[Ailmand]

I don't think different speculations and scripts about Bitcoin would still affect its price. The higher the prices may strike, the higher the risks that we're taking. Bitcoin could even go with $8k bit what important is we'll know how to handle our holdings.

[Wingo]

Everybody writes a script for Bitcoin. But the only thing to know is that Bitcoin doesn't have any rules on price. And he doesn't listen to anyone. It is easy to see that FOMO has been activated once again in Bitcoin. We're gonna see how far together we're going.

This is true. Even the greatest trading tools and tactics fails in predicting the price of Bitcoin. There is really nothing you can do to predict the price. It is primarily motivated by the emotion of the traders. It is very different when compared to any asset market. The volatility of the cryptocurrency market is very different.

[BrewMaster]

unfortunately this is like accumulation for most people which means instead of buying when price was stable and low at $3100 to $3700 they kept on waiting until they were sure lower prices like $1000 is never going to happen and then started FOMO buying bitcoin. these people aren't going to sell so this type of fast and big rises that look parabolic is not really as "dangerious" as you say it is.

also lets not forget that the drop below $6k that happened about 5 months ago was more like a detour. or in other words we were ready to break $7k resistance 5 months ago and with that much delay it happened recently! it is perfectly normal to see this type of shoot up.

[shinharu10282016]

Any spike like these is always dangerous, but we need to take in consideration what is causing this. I think the trade war is a big factor here, people are losing confidence in the stock market

There is really something that is causing this but we can never be sure since the market is really pushed by different forces. We all can just hope this isn't some another bubble to burst since we are only seeing a few grinding from the bottom.

[klaaas]

Everybody writes a script for Bitcoin. But the only thing to know is that Bitcoin doesn't have any rules on price. And he doesn't listen to anyone. It is easy to see that FOMO has been activated once again in Bitcoin. We're gonna see how far together we're going.

That is correct.

With spikes like this it isnt the question if it drops but how fast the drops will recover.  Most weak hands already left the building last year so this can escalate way further upwards.

[the_bandit]

It looks like it could easily break $8k this week.

[Genemind]

Bitcoin is soaring unexpectedly and everybody is really hopeful that it could reach even higher which isn't impossible because the fast changes are visible.
As for me, it's best to accumulate while the prices are quite low. It's not panicking but grabbing the best opportunity that crypto could offer.

[proTECH77]

It looks like it could easily break $8k this week.

There's such possibility base on the current trend on coinmarketcap. Currently the Bitcoin price is on $7,847.84 which is very close to the said amount of $8,000. We hope this surge does not look dangerous becasue of it fast movement on track, since it began. If this continue, before the end of this month, the five Digit may be realistic, which will be make the community have hope the more.

[jak3]

I don't care about any profit or dangers all I care right now is what exactly is causing this price growth. there cannot be people buying more and more coins because binance got hacked or anything like that. or does people are actually joining bitcoin at this rate? doesn't makes sense but its rising fast.

[sunsilk]

I have read your article and you seemed to be worried about the uptrend. It is typical to see the market dangerous if we see it rises so fast and I understand your thought about it.

But with those years that I've been with the market, most of the TA's that I've read, the market isn't really favoring to those opinions. And with the pump that's happening now, am I'm also looking for that plausible reason of this cause.

[No Pain No blood]

yes this might be dangerous, but we can ignore this increase. bitcoin is up now, it makes people happy and many people have already made profits. but there will be many people who lose after this ends, so make sure that you are not one of those who lose.

[Haunebu]

I don't care about any profit or dangers all I care right now is what exactly is causing this price growth. there cannot be people buying more and more coins because binance got hacked or anything like that. or does people are actually joining bitcoin at this rate? doesn't makes sense but its rising fast.

What the heck are you talking about? Don't you read the news? Everyone are aware of the Fidelity and Bakkt news which is possibly behind this surge. The upcoming halving event could also be a reason. Do your research.

https://www.bloomberg.com/news/articles/2019-05-06/fidelity-said-to-offer-cryptocurrency-trading-within-a-few-weeks

https://www.newsbtc.com/2019/05/13/bakkt-launches-bitcoin-btc-futures-at-last-crypto-market-strong/

[Nolimitz84]

For some reason I have never been serious about technical analysis,but just today I found an interesting YouTube channel where the author tells about his analysis.His channel is pretty old and I started to check his predictions that he did 1 year ago.And about Eureka he was right about almost everything.Most likely bitcoin can really fall in price.

[Rahman11]

Mentioning blog is analysis about bitcoin uptrend or present bull-run situation can affect over regular bitcoin and cryptocurrency trader, yes it's true from analysis of some of days it's clear bitcoin reach over doubled then some of days ago! and it's I think great news for bitcoin holders and traders! I think it's starting of new bull-run after december 2017!

[Bardman]

Same shit, bitcoin crashes and enters a downtrend for almost 2 years, watch out guys, bitcoin will go back to 20k any time now. Bitcoin enters bull run, watch out guys, bitcoin will crash at any time now. The reality is that when a strong trend is settled, bitcoin won't break out of it that easily, this bullish trend will continue for a long time, we had plenty of confirmations for it and the volume needed to sustain it is certainly there as well.

[Romeoetin]

The same story all the time. It has always followed whatsoever trend there is. Bitcoin rises and falls.. There's no hullabaloo about it.