Bitcoin (BTC) Bulls Near Exhaustion

[finbad]

I think that Bitcoin (and alts) will see some heavy correction in the next week or so. This is based purely on a historic profile.

I wouldn't mind being wrong on this though :-)

The correction can happen but it will be not as great as before, in 2018. Moreover, after its end, Bitcoin will start running up again. And this time, its speed will be higher than this April and May.

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[bhabygrim]

For me it is already exhausted and taking some time to get going.
Maybe when it had enough rest it would have enough power to move the market once again.

[Mpamaegbu]

We may have retracements here and there from time to time but definitely we aren't going to see any of that kind of dip we witnessed in 2018. Fresh money is coming into this industry from panicking investors who seek to secure their wealth as a result of the uncertainties of the US trade wars with China and other countries that will be included in that mêlée. Therefore, I think the bull run isn't exhausted yet.

[Pursuer]

I think that Bitcoin (and alts) will see some heavy correction in the next week or so. This is based purely on a historic profile.

I wouldn't mind being wrong on this though :-)

The correction can happen but it will be not as great as before, in 2018. Moreover, after its end, Bitcoin will start running up again. And this time, its speed will be higher than this April and May.

the 2018 drop was not exactly a correction. it was a market crash due to bubble burst and that kind of drop (a big 85% drop lasting over a year) only happens because of gigantic bubbles like $20k. right now you can't really expect anything remotely similar to that because we are not even close to be in a bubble. price has to reach something like $70k to $100k before we can call it next bubble and expect 2018 to be repeated. which would probably take until 2021.

[dmty.0809]

I don't collect bitcoin much. Because there are still many good coins at the moment. So I intend to buy an altcoin with my BTC. After I get a lot of profit. I am selling back to btc. Because I wait until halving next year.

[naufals4]

"The cryptocurrency market has rallied for the tenth weekend in a row. Bitcoin (BTC) shot up about 3 % on Sunday, with the asset breaking past a short-term level of resistance. Despite this occurrence, which most analysts see as a sign that the ball is clearly in the court of the bulls, some are still wary of an imminent correction."

source: newsbtc

What's your thought? Do you think that bitcoin has still its own fuel to boost up or nah?
Bitcoin is near in 9000$, will you still hold your coin or trade it now because it might fall down?

in my opinion bitcoin has now entered a glorious period because for the past few days the price has continued to rise. so maybe a few months Bitcoin can return to the way it used to be or it can even get ATH again

[Payme21]

I guess the market is already correcting itself and that's not surprising as it has happened in the past and will happen in future again

[Pipdips]

It just flashed $7,900 in the green. The bulls are in good shape!

[rdbase]

The bull run still has the green light lit up for it to move on ahead.
No stopping the rush in of new money into the crypto market.
So we will see $9k within the year.

[jakelyson]

The price keeps falling this week. I tend to believe that this price fall is due to price manipulation because the fall is so sudden. But even if it is manipulation, it has a drastic effect. It seems that the dump has stopped the steam of the bulls. But hopefully, this dump does not initiate a bear trend.

[DoublerHunter]

I wouldn't mind being wrong with this too but I guess, the Bitcoin is just starting to fuel itself and boost up to the sky. It's not that I am being enthusiastic and optimistic, but there are a lot of articles which supports and provided great facts that the bitcoin is just starting.
Holding is really a great thing to do if you are looking for a long term investment.

[ene1980]

I wouldn't mind being wrong with this too but I guess, the Bitcoin is just starting to fuel itself and boost up to the sky. It's not that I am being enthusiastic and optimistic, but there are a lot of articles which supports and provided great facts that the bitcoin is just starting.
Holding is really a great thing to do if you are looking for a long term investment.

If you are looking for a long term investment then there is a possibility that we wont be able to see these kind of valuation in the future, with more markets opening up and legalization of bitcoin, you might see financial institutions investing heavily into the market in the coming years and if that happens the price would triple from the current valuation and the total market valuation could touch one trillion, right now if you can enter it is a good time to get in when the market is correcting, but even now the market is showing signs of testing the $9 K valuation in a short period of time.

[Koobtcgal]

Not at all. We are experiencing this short period of corrections to gather momentum for a heavy wave that could take is cross the 10k bother and never bring us there again. I am very sure that the bull run is still yet to come and a massive one of course.

[Micerker]

Bitcoin ended the race after speeding up for many days. It achieved a price of $ 8600 before the end of the running contest. Bitcoin has adjusted prices and currently priced at $ 7800. Now Bitcoin has returned to stability and continues to be green. It may start a new race.

[Nellayar]

I think that Bitcoin (and alts) will see some heavy correction in the next week or so. This is based purely on a historic profile.

I wouldn't mind being wrong on this though :-)

Eventhough they have their heavy correction this week, I am hoping that it might move up high. Maybe, bull run will end right now. I am sad to say that my ethereum did not raise up to 500 dollars. And my expected profits becomes nothing.

[Thirdspace]

the same topic referencing to the same news article also exist in Trading Discussion sf
and this thread should be moved to Speculation, more appropriate there

on the topic, I would think a pullback or correction is due anytime this month
price has increased drastically from $5k to $8k in the last month, so correction bounds to happen
it's better to have slight correction now and continue rising than non-stop uptrend and ends with sudden crash

[Rufsilf]

I think that Bitcoin (and alts) will see some heavy correction in the next week or so. This is based purely on a historic profile.

I wouldn't mind being wrong on this though :-)

Well, there's no perfect speculation since the market is highly volatile. However, most people believe that the historic price of bitcoin and any other cryptocurrency only repeats itself in the same manner. So, this might be correct.

I agree, if we base it on the history of bitcoin then there's nothing to be worried about since there's a possibility it will happen, though it might be sure but I thinks there a big chance for it to repeat itself. June just started so I think there's still time for bitcoin to rise up again before the month ends.

[maxreish]

What's your thought? Do you think that bitcoin has still its own fuel to boost up or nah?
Bitcoin is near in 9000$, will you still hold your coin or trade it now because it might fall down?

As you have said. Bitcoin is exhausted in a bull and the curreny market is suffering from the downfall. If you are a swing trader, you can easily sell you btc before the dump happened. But if you are a long term trader, you can still wait for the btc to pump. I can see btc's another bull run tl $9,000-$10,000. A correction is happening before another bull run.

[CBANX Ltd.]

Bitcoin was near $9k but for now, it is far away from that figure and besides bulls, people are getting exhausted due to the unpredictable fall in the BTC price.