New High... For Everything. What'll happen next?

[WinslowIII]

An unprecedented correction might soon follow, of course.

Might.  And I wouldn't be certain about the "unprecedented" part of that, either.  As they say, the markets can stay irrational longer than you can stay solvent.  What I'm seeing is bitcoin jumping from roughly $3500 where it was stuck for many months to over $10k, and that happened in a relatively short period of time.  Obviously there have been a lot of speculators jumping aboard the ship--and that usually doesn't bode well for bitcoin or anything else.

So yeah, we'll have a correction.  Eventually.  Before that, we'll probably have several dips.  Anything beyond that, I'd be pulling out of my ass, because I honestly have no idea what's going to happen with bitcoin right now.  It has got to be one of the craziest markets I've ever seen, aside from the 90s tech stock boom.  Note that that did not end well:  see the NASDAQ chart circa April 2000.

Some monster companies came out of that 90s dot com boom. But this is way different, these aren't companies they are decentralized currencies. Apples and bowling balls.

[BrewMaster]

we already had many nice corrections below $10k that helped with keeping the rise inline and healthy but because the price continued jumping more (which is most probably a new FOMO wave) ever since $10k and specially today we are again in need of a correction.
so that is what comes next.

but don't confuse correction with the big dumps that some people are expecting these days though! a correction is price going down from $13500 top down to $12150 (a 10% drop).

[figmentofmyass]

Eh, I'm sure even shorters like the rise of Bitcoin, at least as long as they don't have any outstanding positions. What goes up must come down and all that.

most people who short uptrends---that's not how they operate. they keep calling the top, getting squeezed, forced to buy back higher, liquidated. i can't believe shorts are still rising on bitfinex. i expected them to start plummeting with these $1000 daily candles but no, bears just keep piling them on. since the $7500 low they are up more than 60%!

I don't think Nocoiners are even aware yet of what's going on.

there must have been some headlines about bitcoin. my girlfriend's dad asked me about it the other day.

[WinslowIII]

Eh, I'm sure even shorters like the rise of Bitcoin, at least as long as they don't have any outstanding positions. What goes up must come down and all that.

most people who short uptrends---that's not how they operate. they keep calling the top, getting squeezed, forced to buy back higher, liquidated. i can't believe shorts are still rising on bitfinex. i expected them to start plummeting with these $1000 daily candles but no, bears just keep piling them on. since the $7500 low they are up more than 60%!

I don't think Nocoiners are even aware yet of what's going on.

there must have been some headlines about bitcoin. my girlfriend's dad asked me about it the other day.

Surely this rise has done a terrific job of wiping out shorters. The higher it goes the more the carnage.

[exstasie]

Surely this rise has done a terrific job of wiping out shorters. The higher it goes the more carnage.

On higher leverage platforms like Bitmex, definitely. Everyday there's a few mass short liquidations. Actually, high leveraged positions on both sides of the book are getting regularly liquidated. Lots of FOMO buying and wicking down as well.

The long term commitment of traders is much more interesting to me. Bitfinex short levels (limited to 3.3x leverage) are up 60-70% over the past few weeks. Given the low leverage, I'm not sure whether to expect the market to margin call these shorters, but they are certainly being squeezed pretty hard right now.

A mass closing of shorts might be a good indicator. On May 15-16 we saw shorts drop 40% overnight on Bitfinex. After that, the dump from $8,400-$6,600 quickly followed. Once the bears finally capitulate and desperate shorts stop pushing the price up, the market can dump.

[HeRetiK]

Theres a hell of a lot more people who know about bitcoin but haven't ever bought any than there used to be.
Unlike the last rise, there are many many eyes watching it this time.

True, there are more eyes watching than in the 2017 run up and crypto is being taken much more serious than it used to. But at least from my anecdotal experience the majority of people saw crypto as a fad and have written it off as dead by now (unaware of recent developments...).

Some monster companies came out of that 90s dot com boom. But this is way different, these aren't companies they are decentralized currencies. Apples and bowling balls.

I mean, sure. You can't really compare cryptocurrencies to stocks. But looking at the 2000+ coins and tokens listed on CMC, most of which have rather questionable merits, I have my doubts that even 1% of them will remain in active development in 10 years time.

I don't think Nocoiners are even aware yet of what's going on.

there must have been some headlines about bitcoin. my girlfriend's dad asked me about it the other day.

So it begins. The media in my part of the world has been eerily silent so far.

[snipie]

Have to check the bitcoin price right now in different sites to believe that we are +$13700!
I am impressed! I thought we will not pass $12k before July and now $15k might be possible?
Impressive!! Hope the next correction keeps the price above $13k

[WinslowIII]

Have to check the bitcoin price right now in different sites to believe that we are +$13700!
I am impressed! I thought we will not pass $12k before July and now $15k might be possible?
Impressive!! Hope the next correction keeps the price above $13k

It's been going up a grand a day for days, it's pretty mindblowing considering the halving is still a year away. I sure didn't expect this rise at this time but what can you say, it's bitcoin.

[romero121]

New high of the year has been reached for bitcoin and few other altcoins that hold good trading volume a d gets among the top 20. Other than those there isn't much of growth with the altcoins, compared to the peak price reached almost every altcoins has to grow 100% to mark its new high. Upon the same lot of users have sold almost all the altcoins in the portfolio amd has moved to bitcoin and ethereum.

[beerlover]

I think the next is the altcoin run. Everyone thinks that since when bitcoin goes up the altcoins go down and believes bitcoin needs to go down to make altcoins go up but that doesn't have to happen at all. Now, when you sell your bitcoin and buy an altcoin yes you take money out of bitcoin but at the same time there is new money coming into bitcoin. So, when nobody buys altcoins the new money coming into bitcoin makes it go up whereas if people starts to buy altcoins the bitcoin price stays about the same with the new money supplementing it while altcoins get higher. So, my assumption is bitcoin will go higher and higher but eventually will stop which means altcoins will start to increase after that. I am not entirely sure if it will happen but I feel like that sounds reasonable.

[LimLims]

we already had many nice corrections below $10k that helped with keeping the rise inline and healthy but because the price continued jumping more (which is most probably a new FOMO wave) ever since $10k and specially today we are again in need of a correction.
so that is what comes next.

but don't confuse correction with the big dumps that some people are expecting these days though! a correction is price going down from $13500 top down to $12150 (a 10% drop).

It's really hard to predict an exact price.
Few hours ago Btc was above 13k usd and now it's again down.
This is only because the low trading volume and market cap.
So wish this will be recovered soon,  and we will see Bitcoin again in high price.

[Bezobraznike]

   I wait prices to get to their previous all times high prices, after that I expect new all times high prices. This fluctuations we see this months, rises and drops,
are good for traders, they earn money, for me as a long-term holder this is just a good sign of what crypto-currencies are capable off. What ever comes next
I`m here, making satoshis and holding what I have, for couple more years before I sell anything.

[BitHodler]

I think the next is the altcoin run. Everyone thinks that since when bitcoin goes up the altcoins go down and believes bitcoin needs to go down to make altcoins go up but that doesn't have to happen at all.

People have been expecting altcoin season to kick in for months now, and it still didn't happen. You know why? Because the mass bought in already and is waiting for it to happen.

It's similar to how people were expecting a bull run in 2018 with loaded bags. What happened was a brutal selloff to shake out those get rich quick noobs. Once people emptied their pockets, the price started to rally.

If altcoin season is going to happen at one point, expect a brutal altcoin selloff to shake the people out calling for an altcoin season. Markets pump and dump when the mass doesn't expect it and has empty bags.

[klaaas]

People have been expecting altcoin season to kick in for months now, and it still didn't happen. You know why? Because the mass bought in already and is waiting for it to happen.

So you are saying those where over valued to begin with ?   Altcoins need to gain value on there own not because Bitcoin gets more traction.

[exstasie]

I think the next is the altcoin run. Everyone thinks that since when bitcoin goes up the altcoins go down and believes bitcoin needs to go down to make altcoins go up but that doesn't have to happen at all.

People have been expecting altcoin season to kick in for months now, and it still didn't happen. You know why? Because the mass bought in already and is waiting for it to happen.

It's similar to how people were expecting a bull run in 2018 with loaded bags. What happened was a brutal selloff to shake out those get rich quick noobs. Once people emptied their pockets, the price started to rally.

Altcoin season will probably begin after a deep correction in BTC. Not necessarily this correction or the next one, but eventually. You're probably right we need further shakeouts first.

But that's how it started in 2017 anyway. Bitcoin dumped hard off the Winklevoss ETF denial, and everything immediately started flowing into Ethereum and associated projects.

Prior to that, altcoiners were dumping to chase BTC gains. That's where we are now. We're probably going to see that action continue for a while. Eventually though as the bull market wears on, more and more money will start flowing into altcoins during BTC corrections rather than fiat.

[normanderecho]

Yes, new high record and seem bitcoin will make again a new historical record this year 2019 if we just base its movement price in the market. We have notice that bitcoin keep surging that might hit the speculation price around $15,000 in this mid year accirdibg to some crypto analysis. So, there is a long time remain from bitcoin to extend more its price on this year 2019.

[justdimin]

I don't know what the economy can sustain at this point and I am afraid to ask. I mean the world economy is getting to a level where rich needs to get richer to continue being rich, they can't just stop and exist as a rich person and not work or not make any new money, system doesn't allow that, a rich person HAS TO keep getting richer in this system.

How can they do it? Well simply just taking from the poor, a regular joe who works for a salary has to keep spending his money on the big corporations of big CEO's and keep spending his money to make them even richer, it is just the system. So, all in all everything goes higher and everyone is richer but for how long? How high can these get? Eventually it will collapse once again like it did in 2008, it has to repeat that and reset the market otherwise we will have a horrible inflation in economy globally.

[onrise]

Have to check the bitcoin price right now in different sites to believe that we are +$13700!
I am impressed! I thought we will not pass $12k before July and now $15k might be possible?
Impressive!! Hope the next correction keeps the price above $13k

It has to happen quick as it’s being long time that people had to wait to see the five digit mark and was it under valued a lot and this finally we have something worthwhile and this will continue to rise in coming time too .

[ethereumhunter]

Yes, new high record and seem bitcoin will make again a new historical record this year 2019 if we just base its movement price in the market. We have notice that bitcoin keep surging that might hit the speculation price around $15,000 in this mid year accirdibg to some crypto analysis. So, there is a long time remain from bitcoin to extend more its price on this year 2019.

I hope so. It is not impossible for bitcoin to reach $15,000 after this because we already reach $13,000 before. So we have a chance to see bitcoin will increase into that price, but yes, we need to be patient and let time will answer our hope. We need to wait for the mid-year happen because that will be a good time for bitcoin to increase higher.

[mersal]

It seems that the capital market in June 2018 is yet again on a frenzy, with SP500 hitting a new historical record high, and Bitcoin breaking the 10,000 dollar mark again.

Beneath the seemingly prosperity, is there something unnoticed to the public? What will happen next?

https://medium.com/sophonexchange/new-high-for-everything-1123087a04b9?source=friends_link&sk=39cee77ec17bebdfa5d746900c53c049

After having a huge bullish movement on the Bitcoin prices we made fall on the prices which is not good to see but it is good for the future of cryptocurrencies because we can feel that the correction is right and the price is not going to you fall too much after that happened.