Theoretical reason for the bullish bitcoin now.

[TheBusstop]

My opinion and please don't get me wrong. the bull raise of bitcoin is affecting altcoins. Most investors wants quick profits and this has cause major sale off for altcoins. people are echanging there altcoins for bitcoins and this is affecting the altcoin market. we don't know how long this might go but hoping to see good moves for altcoins before december.

[1713574221]

1713574221

[1713574221]

1713574221

[1713574221]

1713574221

[arpon11]

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.

Many traders and investors are looking for short term price movement in making trading decision but in trading things don't work in that way. You have to look at the long term when you want to invest and that is what @leiwonderful is trying to tell us. If you can analyze charts then try to study monthly and weekly charts and you will understand that now is the best time to invest and this is the beginning of another bullish trend.  Bitcoin has done well this year and it is less risk to invest in it for now.

[Genamant]

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.

i think the news about launching of the libra coin of facebook has a big impact to this  bullish market
and also the news about FED and some FOMOS i guess

[Spaffin]

My opinion and please don't get me wrong. the bull raise of bitcoin is affecting altcoins. Most investors wants quick profits and this has cause major sale off for altcoins. people are echanging there altcoins for bitcoins and this is affecting the altcoin market. we don't know how long this might go but hoping to see good moves for altcoins before december.

In a sense, I think you are right.  If you follow your logic, everything will soon return to the previous level, because in the pursuit of profit, users of cryptocurrency sold altcoin and bought bitcoin, and now when bitcoin has reached a certain level, which can already be considered irresistible in the near future, then to get the desired profit  everyone will sell bitcoin.  Further developments are not difficult to predict.  But in these conditions, I do not see a bull trend at all.

[Baofeng]

We have seen the correction already, $13800->$9800 but then again as OP has said we are very bullish so it didn't hold, the price pick up again and we are somewhat in a sideway pattern around $11k-$12k. I also think that we have past the accumulation period, specially when the price hits floor around $3200. I'm sure some of us here took that advantage to stash more bitcoin in their wallet and ride the waves, reaching as high as $13800. So yes, this could be just the beginning of $20k, $50k or even $100k in the next two years.

[MTL4]

Looks like pure price action to me, folks see it bottom, begins to turn for a breakout and then once you have the breakout take hold, it's FOMO 2.0

[Tungsten-1]

Looks like pure price action to me, folks see it bottom, begins to turn for a breakout and then once you have the breakout take hold, it's FOMO 2.0

To me, the reason is always the market because every force over here that affects the value of Bitcoin is considered as a market factor. I think that the pure reason behind the price hike is huge speculation in the coins. We are expecting rise in the value of Bitcoin pre Bitcoin halving and that is the motivation for people in the crypto market to invest big.

[nightways]

My opinion and please don't get me wrong. the bull raise of bitcoin is affecting altcoins. Most investors wants quick profits and this has cause major sale off for altcoins. people are echanging there altcoins for bitcoins and this is affecting the altcoin market. we don't know how long this might go but hoping to see good moves for altcoins before december.

That has been the usual practice and which should not be strange to people, most altcoins falls when bitcoin goes on bull run except some of the strong altcoins that are still within the reach of bitcoin, I mean like the top 50 coins, those are the ones that are still trying to come up with bitcoin in its recent uptrend.

This period that altcoins is down should be the best opportunity for those who are yet to invest in these coins to buy as much as possible before all these investors that has dumped their coins for bitcoin for altcoins starts returning it back, and the time they will return it is when bitcoin starts to go sideways, so better to buy now when these altcoins have all bottomed, but we still have to do our research to be sure that the coin we pick interest in has not become a dead coin already.

[joshy23]

Looks like pure price action to me, folks see it bottom, begins to turn for a breakout and then once you have the breakout take hold, it's FOMO 2.0

To me, the reason is always the market because every force over here that affects the value of Bitcoin is considered as a market factor. I think that the pure reason behind the price hike is huge speculation in the coins. We are expecting rise in the value of Bitcoin pre Bitcoin halving and that is the motivation for people in the crypto market to invest big.

It's the people behind who's willing to take part and make the movement of this market, bitcoin indeed still in speculative period and most of price
rise is in accordance to expectations that traders seen inside the market, if you believe that there's good chance to see higher uprise you will aslo
invest while its still cheap in value.

[iMark]

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.

Looking at the market chart in the past few months you see that candles have continued to increase, this is almost the same as the chart in 2017, I can't be sure there will be ATH again or not, but anything can happen in the bitcoin market, even at the beginning of the year many people doubt about bitcoin market can recover this year, but all predictions are wrong, the price exceed $13k

[el kaka22]

I agree that adoption has played a big role in it as well, I mean it has been around 3-4k too long while the number of people coming into bitcoin increased very much and eventually with April there was way too many transactions which caused the bitcoin going up of course.

There is only a limited number of people selling bitcoin at a certain price, you can't just put a billion dollars and buy bitcoin at the same price over and over again, it will go up, so even though it wasn't a billion dollars the more people came into bitcoin and the more they bought the number of people bitcoin increased significantly thanks to adoption and that resulted with bitcoin going up and when it goes up super fast like it did then even more people join so it keeps going up and continues that trajectory.

[sana54210]

I agree that adoption has played a big role in it as well, I mean it has been around 3-4k too long while the number of people coming into bitcoin increased very much and eventually with April there was way too many transactions which caused the bitcoin going up of course.

There is only a limited number of people selling bitcoin at a certain price, you can't just put a billion dollars and buy bitcoin at the same price over and over again, it will go up, so even though it wasn't a billion dollars the more people came into bitcoin and the more they bought the number of people bitcoin increased significantly thanks to adoption and that resulted with bitcoin going up and when it goes up super fast like it did then even more people join so it keeps going up and continues that trajectory.

So you think that it is the accumulation of adoption that made the price shoot high that first of April, one question you need to ask is how is it possible that everyone would just have the same mind at the same period of time to put money into the market, for the value of any coin to suddenly shoot suddenly and not gradually, it means the volume transacted must have been done at once, and I don’t think everyone will just decide to make investment at once when there is nothing controlling their decision.

I think this surge presently is just being done by market players, though we still have some level of adoption but more of market makers. We should not relent and eave the market into their hands, because it could be dangerous for some investors, we still need to push more for more adoption from real people out there that may have use for bitcoin.

[Lucius]

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 ?

I would say that it is about pattern which is visible if you look at the history of bitcoin, and this time the only difference is in numbers. $20k is last ATH, and I believe like many others that at a given moment this level will be very easy to break, and that new ATH should be at least x5 (so maybe $100k). This is just based on previous events, and fact is that we see in less then a year x20 increase in price which was truly amazing.

Can the history repeat? My personal opinion is that this can happen, but this time starting point will not be $1000, but probably close to $20k even before next halving.

But considering that this is a bitcoin, we should always be careful and invest only what we are willing to lose.

[marine4u]

It seems to me that the growth rate of Bitcoin prices in 2017 was much higher than now.  In addition, we can compare prices for other cryptocurrencies, including ethereum, which also had a good upward trend during that period, and today the situation is much different.

The cryptocurrency and Bitcoin markets are having a very strong return and I believe that the peak in 2017 will quickly be broken in the end of 2019 and early 2020. Bitcoin is the largest coin in the cryptocurrency market and certainly that it will be the first choice for investors when returning to this market so it is understandable that Bitcoin's price increase is very high.

[buwaytress]

I would say that it is about pattern which is visible if you look at the history of bitcoin, and this time the only difference is in numbers. $20k is last ATH, and I believe like many others that at a given moment this level will be very easy to break, and that new ATH should be at least x5 (so maybe $100k). This is just based on previous events, and fact is that we see in less then a year x20 increase in price which was truly amazing.

Can the history repeat? My personal opinion is that this can happen, but this time starting point will not be $1000, but probably close to $20k even before next halving.

But considering that this is a bitcoin, we should always be careful and invest only what we are willing to lose.

I've got a lot of opinions about this, and they generally conflict each other but I'll start at your last point: only invest not only what we're willing to lose, but what we should assume we will lose. That is really the only way to enter this experiment (yes, it is still one) without creating any expectations.

I too believe in cycles and history repeating itself, but I'm probably a lot more patient than most others and I'm ready to see a lot worse crypto winters come first before another spring repeats.

[awik p]

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.

I think the reason is very simple if we do some kind of things properly then the reaction will be e came to us like we are expectation that is the thing going on in Bitcoin field also and I expect this changes from the Bitcoin from a long period of time

as well as my belief, that at this time bitcoin is on an uptrend, and the decline is only temporary before bitcoin continues its upward movement. this is very beneficial for long-term investment, which is not affected by price fluctuations

[EdvinZ]

I think that the main reason for the bull run now is that 2020 is approaching, in which there will be a decrease in the reward for the mined Bitcoin block. The Facebook's Libra project also draws more attention to cryptocurrencies. In addition, many global brands want to launch their own cryptocurrencies. These trends in the aggregate provide fuel for the growth of Bitcoin.

[Lucius]

I've got a lot of opinions about this, and they generally conflict each other but I'll start at your last point: only invest not only what we're willing to lose, but what we should assume we will lose. That is really the only way to enter this experiment (yes, it is still one) without creating any expectations.

I too believe in cycles and history repeating itself, but I'm probably a lot more patient than most others and I'm ready to see a lot worse crypto winters come first before another spring repeats.

I mainly add part about investment because of newbies who read this, and some of them think that older members have some inside info about future price, but we have only more experiences. When it comes to cryptocurrency there is time for investment, time for profit and time for hold, and I think now is still good time to investment because we are not still in bull run, but in some kind of pre-bull run.

Maybe I am wrong, but big things will probably start to happen after halving and this is just warming up now. Last crypto winter was long, but a few months ago the spring started, and we should enjoy it. When the summer end on the northern hemisphere people will start to invest more in bitcoin, and that means we can expect much more than where we are now.

[JPSelzer]

Yes, I also believe that bitcoin will show a good value soon. But there is still a correction ahead of us and after we will see new highs. I hope that after this correction altcoins also Wake up and show their growth.

[Kasabus]

The cryptocurrency market has fallen very deep in 2018 and early 2019 and this is a very suitable time for this market to recover.
Bitcoin is receiving great attention from the community so growth back in the past is predictable. I believe that from now until the end of the year, the market will be booming.

We are not hopeless anyway, we are still waiting for the right moment that Bitcoin will fully recover from a very long dip happen. Our full support for bitcoin is the only thing we can help. Indeed, we started to recover but isn't strong to see it straightly going up rather than to have a zigzag line. This trend means that the market is having a huge difference from how it started but of course, we can't discard any chances that we reach into at its peak again.