The Consensus pump is real

[shvlam]

We reached $8000 in the past few days leading to the conference. I remember last year everyone was hopeful about it, but the bear market spared no one. This time we have Bakkt announcements and all kinds of stuff I saw outlined here: https://cryptobriefing.com/nobody-will-sell-bitcoin-8000/

It's probably going to correct a bit, but the rise is real.

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[rijaljun]

We reached $8000 in the past few days leading to the conference. I remember last year everyone was hopeful about it, but the bear market spared no one. This time we have Bakkt announcements and all kinds of stuff I saw outlined here: https://cryptobriefing.com/nobody-will-sell-bitcoin-8000/

It's probably going to correct a bit, but the rise is real.

Ugh.. I thought that Bitcoin price has significantly increased its price with no reason, now this news came out and you think this is the reason behind the increasing price of Bitcoin. Don't you know that this positive trend has started from end of march? It means that this news is not the only reason. Perhaps some parties already knew that Bitcoin will have a good news this month so they start to buy since a month ago.

[davidtld]

I think gonna get to 2017 level around the halving. Gonna be a lot of correction till there, but i think bull market will take a long time.

[iamMhew]

I think if somebody has a knack of playing day trading well during this time, he might have gain a lot rather than buy and hold.
Either way there will be gain.

[smartbitcoininvestor]

It's a great time to be holding Bitcoin. I am excited for what's to come. I think the price has a lot of improvement it can make especially with such large gains in such a relatively small period of time.

[waynechong1995]

Many of us have no idea, and we are justifying with some news and data, so far I didn't see any detailed analysis about this consensus pump as all charts told you that it's overbought but the market doesn't react to it. It's really dangerous when correction eventually comes, or I would say it's an off period for gainers to actually cash out their profits

[dothebeats]

No one really knew that this would blow out of proportion and so everyone was caught aback when we suddenly crossed multiple crucial resistance points. With Bakkt teasing their launch sometime in July, this would only get better and would even propel this thing further. Personally I think that the 1st of April boost was really a planned date and event and is just the starting point of this run. $10,000 is just around the corner and with more positive news coming in, FOMO would surely kick in and do its thing.

[philipma1957]

I mine. As trading is too unpredictable.  I need only control power cost to make a profit when I mine.

To the traders of the world have fun trading.

My guess is trump did this via import attacks last fri on China .

USA Stock markets sold off and put money into crypto markets.

Me I mine.

[franky1]

everyone should know by now bitcoins economics is made up of multiple points.
first there is the base value which is usually the acquisition costs. this is usually measured by the cheapest way to get bitcoin. either market or mining it.
mining is always the cheapest(for those with the right electric and efficient asics) but for some less organised miners there are times that some users cant stay profitable mining, meaning its cheaper to buy on the market then mine.

when a majority of people are buying coin at X that majority form a consensus that they wont sell below X as that would be a loss, and no one should foolishly sell at a loss.

right now the hashrate and mining cost calculations put a base VALUE acquisition costs still below $6k.
so with the market PRICE above $6k the difference is known as the speculation zone.

in some cases this speculation zone has VALUE. this is where the hype/reason is based on utility and features adding value. however speculation is fluid and not a hard value.

in some cases this speculation zone has VAPOUR. this is where the hype/reason is based on nothing more then hope, dreams and stories that dont hold weight. its when speculation has so much vapour that we call the speculative zone a 'bubble' that can burst and the price corrects back down to the base value.

this $8k is not currently holding weight by any real active new feature/utility that has come about in the last month. it is mostly hype and hope.

no one can predict how long people will continue to hope/believe that we are just on the edge of new active features/utility to uphold the speculative zone. but if the hope dies before new features/utility become real. the speculation will evaporate.

so ask yourself, in a calm rational and realistic way, what is actually happening in bitcoin in the short/medium term that will uphold the market price speculative zone.
think about features/utility, mining hashrate rises. and if you cannot explain the speculation without sounding like a person with hope. then dont expect the price to remain stable at these levels

[philipma1957]

That was pretty good franky1

As to whether the correct btc floor is 4K 5k 6k or 7k  it can be argued that 4-7 k covers true value of coins.

I have to agree that 8k+ is high.

I expected us to settle around 6500 for most of the next 4 months.  8200 did not seem possible.

[Erickan]

We have had to wait a long time to see the growth of bitcoin since 2017. Hopefully we will see the steady growth of bitcoin in the following days. The market is currently receiving a lot of good news, so be happy. If bitcoin breaks the $ 8k barrier, we can't imagine what will happen next, hoping bitcoin will do that.

[Ibizugbe1]

One will always make gain trading bitcoin than trading some altcoins in panic. The growth of the bitcoin value is expected maybe not as we are seeing it now, it appears bitcoin price growth is going to be a periodic growth like we saw in 2017, if this growth trend continues, then we may hit the former ATH  probaly by year end or early next year. Let's not forget that bitcoin halving is next year where block reward will be reduced to 6.25btc per block, so bitcoin price is excepted to skyrocket more next year and people get greedy with their holdings.

[edisystem]

We reached $8000 in the past few days leading to the conference. I remember last year everyone was hopeful about it, but the bear market spared no one. This time we have Bakkt announcements and all kinds of stuff I saw outlined here: https://cryptobriefing.com/nobody-will-sell-bitcoin-8000/

It's probably going to correct a bit, but the rise is real.

Yeah with this market condition right now, people will expect more and i'm sure they will hold even the bitcoin price hit $8,000.

Based on the image of consensus 2019 on the article yes i can see the similar pattern. I guess we will have the same scenario like on 2017.

[MiguelCryptoss]

I think gonna get to 2017 level around the halving. Gonna be a lot of correction till there, but i think bull market will take a long time.

Indeed, the correction has just began and we are going to experience the bull run along the correction. Now Bitcoin price has just be $8,023.12 and still moving, but we might not going to see another bull run we saw in 2017 until 2020 during the halving.

[Nadziratel]

We reached $8000 in the past few days leading to the conference. I remember last year everyone was hopeful about it, but the bear market spared no one. This time we have Bakkt announcements and all kinds of stuff I saw outlined here: https://cryptobriefing.com/nobody-will-sell-bitcoin-8000/

It's probably going to correct a bit, but the rise is real.

Bitcoin price once decided to rise. FOMO started. After that, every excuse is enough to raise the price of Bitcoin.

[KKH84]

The discussion about the increase in Bitcoin prices is indeed interesting to follow.  I really hope that the price of Bitcoin at the end of this year will be as close as Bitcoin prices in late 2017 and early 2018.

[Yamifoud]

The discussion about the increase in Bitcoin prices is indeed interesting to follow.  I really hope that the price of Bitcoin at the end of this year will be as close as Bitcoin prices in late 2017 and early 2018.

Sounds possible mate, not really that close but possible be more than of what it happen last 2017.
Anyway, we are just too very optimistic and even we have that positive insights will never know what exactly happen in the coming days. Yet, we just be satisfied of what we've got now and enjoy the show.

[Kakmakr]

The recent announcements in the media that institutional trading platforms are gearing up for Bitcoin trading have injected new "hope" into the market and investors are buying more coins to prepare for a big push, before that happens.

You got to get into the market, before the bull market start or reach it's peak.  

We also know that a halving is coming in early 2020 and prior to every halving, the price skyrocket when people are reminded that scarcity is a "real" thing.  

[Ailmand]

The discussion about the increase in Bitcoin prices is indeed interesting to follow.  I really hope that the price of Bitcoin at the end of this year will be as close as Bitcoin prices in late 2017 and early 2018.

Sounds possible mate, not really that close but possible be more than of what it happen last 2017.
Anyway, we are just too very optimistic and even we have that positive insights will never know what exactly happen in the coming days. Yet, we just be satisfied of what we've got now and enjoy the show.

Well, no matter what it's just best to take what you can while the market is still recovering. Usually the bull-market occurs during halving and there's still plenty of time before that. It just so happen that the trend this year was almost the same as how it was last 2017 bull-market. Start accumulating and holding bitcoin, once the next bull-market starts, it will be worth it.

[Caladonian]

The discussion about the increase in Bitcoin prices is indeed interesting to follow.  I really hope that the price of Bitcoin at the end of this year will be as close as Bitcoin prices in late 2017 and early 2018.

Sounds possible mate, not really that close but possible be more than of what it happen last 2017.
Anyway, we are just too very optimistic and even we have that positive insights will never know what exactly happen in the coming days. Yet, we just be satisfied of what we've got now and enjoy the show.

Very well said, we need to continue enjoying how things is moving right now, the current bull attempt makes trading more interesting again, we need to be more positive to continue buying and holding coins, the assets that we have right now will bring more value if this current market movements will showed more agressions to reach much higher.

Those news around will bring more people to entrust their investment to this industry, be positive and it will bring more benefits to your investment.