Theoretical reason for the bullish bitcoin now.

[LUCKMCFLY]

Now that we are in a fairly long Bitcoin stage of Accumulation, according to Wyckoff's scheme or theory we can say that we are entering an uptrend, it may go down a bit and then rise, believe that this time the bullish rally could reach $ 20k ? Many talk about the fact that the bitcoin ceiling is $ 50k, others talk about $ 100k and the most positive ones say $ 1M. It is a good time to make the corresponding investments, I think we can say that we are ready for new highs? To my way of thinking and how I see trading and the Bitcoin market I see the bullish Rally much more viable.

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[hurry_hore]

I think there are some reasons to impact this bullish trend:
1. Bitcoin Halving to be occurred on 2020, now is just beginning of bull run.
2. Libra which is launched by Facebook
3. More countries have accepted cryptocurrencies

At least they are the reasons why Bitcoin including all crypto world is rising, but for Bitcoin bullish now is still just beginning. Perhaps there will be new high of Bitcoin price more than 20K as some people says 300K. I think it is possible.

[Botnake]

It's easy to explained what is happening now, bitcoin is already in a bullish run and for me I listen more on the bullish prediction.
TA is still important but they don't matter most in the bull run as with FOMO, price could go as high as it can, and will be overvalued soon.
Anyway, let's just expect some correction, but for now, it's wise to enjoy what's happening so far.

[joniboini]

Anyway, let's just expect some correction, but for now, it's wise to enjoy what's happening so far.

Correction already happened. I hope it will go sideways for a few more weeks to give alts time to grow (my portfolio sucks as hell right now).

2. Libra which is launched by Facebook

People keep mentioning Libra but I can't find any relation at all, except maybe irrational excitement. The new LedgerX futures is more suitable if you want to explain the recent bull run instead of Libra.

[spadormie]

2. Libra which is launched by Facebook

People keep mentioning Libra but I can't find any relation at all, except maybe irrational excitement. The new LedgerX futures is more suitable if you want to explain the recent bull run instead of Libra.

Yeah, a lot of people on our board is also believing that this is because of the Libra coin to be launched by FB. Technically it's not for me since the launch will take place next year not this year. So what's with the hype? Lol.

1. Bitcoin Halving to be occurred on 2020, now is just beginning of bull run.

Hmm I don't think that this is because of bitcoin halving. What I observed from halving is that, after the halving that's where the beginning of bull run takes place.

[Jating]

I have my personal prediction that the price will hid a snag after reaching $13500, which eventually happen so I'm not surprised by the current retracement so far.

But I have to agree that there will be a lot of bumps along the way, I'm seeing that we won't reach any all-time-high at the end of the year, but it will be close so I think we can still go vertical in the next coming months and entering a bullish trend in 2020.

[hurry_hore]

People keep mentioning Libra but I can't find any relation at all, except maybe irrational excitement. The new LedgerX futures is more suitable if you want to explain the recent bull run instead of Libra.

Yeah, a lot of people on our board is also believing that this is because of the Libra coin to be launched by FB. Technically it's not for me since the launch will take place next year not this year. So what's with the hype? Lol.
Hmm I don't think that this is because of bitcoin halving. What I observed from halving is that, after the halving that's where the beginning of bull run takes place.

All above are news, which is one great thing to influence a price. However I still believe that a price, not just crypto price, is affected by the strongest capital holder even some of the capital are owned by public. If that capital holder want to change the price, the price will move to the capital holder want. That capital holder will easily to pump by spreading FOMO, or to dump by spreading FUD. Forty Billion USD as is still controllable by a giant capital holder(s).   

[el kaka22]

I have my own personal ceiling for bitcoin which is not bigger than the biggest stock exchanges in the world, which means between 4-20 trillion dollars is the phantom ceiling for bitcoin for me.

I say phantom because in reality there is no limit, it can be 1 trillion dollars for each bitcoin and even though we all know it makes no sense and it won't happen the reality is technically speaking it is possible, it is definitely impossible in financial stand point but not because of some technological reason. So considering that I say 200k is quite possible in our lifetime, of course not anytime soon but the max it can possible reach for me is about 200k, anything more is just way too risky and way too volatile, we are fine with bitcoin moving %10 but in that case just a simple %10 movement would be 20k as a whole.

[fullhdpixel]

I have my personal prediction that the price will hid a snag after reaching $13500, which eventually happen so I'm not surprised by the current retracement so far.

But I have to agree that there will be a lot of bumps along the way, I'm seeing that we won't reach any all-time-high at the end of the year, but it will be close so I think we can still go vertical in the next coming months and entering a bullish trend in 2020.

I already saw that the correction was going to come, I remember I had a discussion with my friend about this and he dished it, I told him based on the pattern bitcoin has been following for a while now, especially the moment it start its uptrend from the first of April this year, there is always a big correction that follows every high surge, this surge was getting so high and correction is very much possible back to $11k or below, but he said the trend will continue like this till it hit ATH.

This correction is natural, and I don’t think it calls for panic, the market will from here head back uptrend and this time around after this correction tried to break a barrier that is quite close to $15k within the next few weeks, and I think we might get stabilize around $18k at the end of the year for altcoins to start mooning too before it continues further with the increase next year.

[davis196]

I think there are some reasons to impact this bullish trend:
1. Bitcoin Halving to be occurred on 2020, now is just beginning of bull run.
2. Libra which is launched by Facebook
3. More countries have accepted cryptocurrencies

At least they are the reasons why Bitcoin including all crypto world is rising, but for Bitcoin bullish now is still just beginning. Perhaps there will be new high of Bitcoin price more than 20K as some people says 300K. I think it is possible.

1.Bitcoin Halving is still in the future.
2.Libra has nothing to do with bitcoin.
3.I don't see any news about new countries accepting cryptocurrencies.
The only reason behind the recent short term bull run were the crypto whales.
I don't have any other theory about that.The OP,who wrote this thread also doesn't have a theory.Just a price chart and a bunch of suggestions.

[MadeinCoin]

I think there are some reasons to impact this bullish trend:
1. Bitcoin Halving to be occurred on 2020, now is just beginning of bull run.
2. Libra which is launched by Facebook
3. More countries have accepted cryptocurrencies

At least they are the reasons why Bitcoin including all crypto world is rising, but for Bitcoin bullish now is still just beginning. Perhaps there will be new high of Bitcoin price more than 20K as some people says 300K. I think it is possible.

The return of investors is actually also influential, because since the IEO was launched several exchanges a few months ago, not long after that bitcoin has increased. I think the IEO also plays an active role in increasing bitcoin this time.
And maybe the more we approach halving days, the higher the price of bitcoin, I believe that this year or the beginning of next year bitcoin will reach the new ATH.

[justdimin]

When I look at these charts I just can't avoid seeing all those ups and downs, there are so many ups and downs and people are still worrying about how even a slightest fall could be the start of another bear run or slightest up is the start of a bull run. Not all drops equals to bear run and not all ups equal to a bull run.

Maybe this one is one of those as well, maybe we did dropped a bit but that was just bitcoin doing what it does best and being volatile, maybe it will continue to go above 18 thousand dollars all of a sudden? Or maybe it will go back down to 8 thousand dollars who knows? Reading charts is not something for me but whenever I look at those I just can't believe people miss out on the biggest of the details like this, don't worry about all movements, some of them are just volatility and that's it.

[MonsterV]

I have my personal prediction that the price will hid a snag after reaching $13500, which eventually happen so I'm not surprised by the current retracement so far.

But I have to agree that there will be a lot of bumps along the way, I'm seeing that we won't reach any all-time-high at the end of the year, but it will be close so I think we can still go vertical in the next coming months and entering a bullish trend in 2020.

We better be patient, because the current state of bitcoin is being corrected. We see after bitcoin touches the support point, which direction will it go next. which of course I hope it will bounce again, but if not, maybe I can get a cheaper price. But I still believe if the price will be higher at the end of this year when approaching halving.

[Coyster]

When I look at these charts I just can't avoid seeing all those ups and downs, there are so many ups and downs and people are still worrying about how even a slightest fall could be the start of another bear run or slightest up is the start of a bull run

This is the fear of every investor, what to and what not to expect, anything is possible at a snap of the finger, it could all be going rosy and up, and the next minute, it comes crashing down.
This for sure is an obvious bull run, for how long it can be sustained is what's not yet known, the last few weeks have been a good one for investors,the green charts I'd a wonderful sight to behold, we can only hope it keeps up this way, I wouldn't put my money on that though.
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2. Libra which is launched by Facebook

I strongly doubt this.

[serjent05]

Anyway, let's just expect some correction, but for now, it's wise to enjoy what's happening so far.

Correction already happened. I hope it will go sideways for a few more weeks to give alts time to grow (my portfolio sucks as hell right now).

I agree, that was a steep uptrend, no wonder a sharp downward correction follows it.  Well I have my altcoin portfolio on green and sold some of them taking about 3x profit. Lucky me I guess. 

2. Libra which is launched by Facebook

People keep mentioning Libra but I can't find any relation at all, except maybe irrational excitement. The new LedgerX futures is more suitable if you want to explain the recent bull run instead of Libra.

Same here, probably FB needs the Bitcoin enthusiast sentiments.  That is why they are tapping that Libra is one of the reason why Bitcoin is at its bull run now.  And now that Bitcoin had some correction, why not any article stated that it is because of Libra that Bitcoin price goes down...  (Sounds unfair)?     It is so because, Libra is no way connected or have any relation on the current Bitcoin trend.

[bitgolden]

When I look at these charts I just can't avoid seeing all those ups and downs, there are so many ups and downs and people are still worrying about how even a slightest fall could be the start of another bear run or slightest up is the start of a bull run. Not all drops equals to bear run and not all ups equal to a bull run.

Maybe this one is one of those as well, maybe we did dropped a bit but that was just bitcoin doing what it does best and being volatile, maybe it will continue to go above 18 thousand dollars all of a sudden? Or maybe it will go back down to 8 thousand dollars who knows? Reading charts is not something for me but whenever I look at those I just can't believe people miss out on the biggest of the details like this, don't worry about all movements, some of them are just volatility and that's it.

Predicting a volatile coin is not so much easy to do, sometimes, when you want to take a start is when the market goes the opposite direction, which makes it very difficult for people to see the opportunity in those ups and downs, those ups and downs are what really make the market very interesting, because they are the ones that gives opportunity to the buy and sell we do see most traders do.

There is absolutely one thing I am certain of right now, we are very far from another bear market, I think till we set a new all-time high for bitcoin and altcoins before we can start picturing another bear market, any down we see now is simply just going to be a correction, which we need to see as opportunity for investment, but a carefully chosen one, because it is not every little correction we should quickly jump into.

[leowonderful]

FOMO's also helping Bitcoin move up, though there's still plenty of people that are looking to short and we have areas of consolidation every now and then too, and we are in one now. Don't be fazed by the noise, zoom out to higher timeframes and don't stare at lower timeframes too much and you'll do fine. Even in major uptrends there are corrections that shake people out and the move up continues up.

[beerlover]

I am not entirely sure if this was an accumulation stage at all. This was probably a cashing out phase where many people who have lost their money during the 20k bull times to 3k bear run and finally getting out, the sad part is most of them won't even get back.

A lot of people went into bitcoin during 12k times, we didn't stay there as much as 6k times but those people are long gone anyway so we are here with the second highest price we stayed for so long and many people are taking advantage of this time to sell and finally be done with bitcoin they have been waiting to get rid of for months (even over a year). Accumulation happens when bitcoin price doesn't get high and just stays the same and people collect bitcoin, that was during the 7.8k times after we dropped from over 9k, this was just cashing out period.

[nowlscor18]

The recent corrections happening had a purpose for bitcoin to become bullish, because this will attract more adoptions. Many buyers will come and hold btc as they grab this chance while the value go down quickly. As of this days btc continue to develop a good mementum aiming for highest possible price.

[radjie]

2. Libra which is launched by Facebook

People keep mentioning Libra but I can't find any relation at all, except maybe irrational excitement. The new LedgerX futures is more suitable if you want to explain the recent bull run instead of Libra.

Yeah, a lot of people on our board is also believing that this is because of the Libra coin to be launched by FB. Technically it's not for me since the launch will take place next year not this year. So what's with the hype? Lol.

some of them have linked a bullish event this time because there will be libra coins to be launched by Facebook, but I don't think this has anything to do with it. the recent increase is of course due to the return of investors who do not want to miss out to make a profit by investing in bitcoin because they believe that in the next few years bitcoin will have very valuable value