Bitcoin Price Could Soon Surge by 20%?

[STT]

I dont take weekend prices as good indication for the rest of the week, for whatever reason we tend to get a blip on Sunday open as Japan trading hours come into play and thats when I start to note the areas we are holding or failing.



We have attempted to break down a bit but stayed above short term averages more importantly the weekly average we've stayed above and perhaps we fight the friday prices now in Asia trading.

[Pearls Before Swine]

i am starting to think that we may end up experiencing another prolonged and boring stable phase like what we had at the beginning of this year with $3k range.

It's possible, but I doubt it and bitcoin hasn't been in its current range for very long.

At least this thread isn't one of the morbid prediction ones saying that its headed back toward $5000 or below.  That also could happen, ofc but I don't think its likely either.  It is more likely in my opinion that once bitcoin does start moving with some momentum again that it will be toward $10,000.  The market and its traders are just taking a breather right now.

[magneto]

I know that we are just speculating here but market sentiment can be a big factor for the movement of the price of any commodity or currency. Are you of the same argument or do you see that Bitcoin will instead go south and be trading below the $7,000 within the coming week? Is Bitcoin now ready to take over the $10,000 price range?

I doubt it given how much resistance that level saw the last time it was tested.

Furthermore, we don't even know for certain whether or not the 8k support will hold at this point. Even though we did see sizeable rebounds each time BTC tested this level, this was exactly the same scenario with $10k, which eventually crumbled.

I'd refrain from making any bullish predictions in the short term even though I'm still holding my longs on BTC in the long run, simply because how sentiment in the short run can affect the entire market's performance.

[pooya87]

i am starting to think that we may end up experiencing another prolonged and boring stable phase like what we had at the beginning of this year with $3k range.

It's possible, but I doubt it and bitcoin hasn't been in its current range for very long.

At least this thread isn't one of the morbid prediction ones saying that its headed back toward $5000 or below.  That also could happen, ofc but I don't think its likely either.  It is more likely in my opinion that once bitcoin does start moving with some momentum again that it will be toward $10,000.  The market and its traders are just taking a breather right now.

that is why i am not yet sure about it. this is just a feeling that i have based on the fact that usually after a sudden unpredictable drop like what we had recently, there is always a stable phase where market just goes sideways for a long time. we have to stay here for a month at least for us to be sure of this trend though.
unfortunately every time we have a sudden drop then sideways trend like this it ends up seeing it followed by a shoot up after the rise starts! like when price went from <$4k to $6k and then $13k in a short time after.

[error08]

Not anytime soon, the market has been at $8K resistance for weeks but bitcoin even struggles to reach $9000. 
Yeah, bitcoin might stay at this stable phase over a month as its value is directly proportional to capital inflow, at least better than a dip to $7K.
$8K maybe the new bottom line generally because there's not a lot of new adopters entering the market right now.

[exstasie]

I dont take weekend prices as good indication for the rest of the week, for whatever reason we tend to get a blip on Sunday open as Japan trading hours come into play and thats when I start to note the areas we are holding or failing.



We have attempted to break down a bit but stayed above short term averages more importantly the weekly average we've stayed above and perhaps we fight the friday prices now in Asia trading.

It looks like that dip got bought. The market didn't like the taste of new lows.

We're still smothered below the 200-day MA and reeling from that big bearish engulfing on October 11th so I don't want to get too excited yet, but this could be slowly turning upwards. I'm confident we'll get a run to the mid-$9,000s or $10K at some point. It could be soon.

[Sadlife]

all of us are longing for that growth as it was a month now that Bitcoin is struggling to even move to $9k but with many speculation and others putting the price value to fall down $6k how can we expect a hype in market like this

while we have still a long way before the end of Q4 yet i don't see any potential so far that will push the price uptrend

maybe we really need to fall that low before the Bull starts to play its role and bring us profit before this year ends

[romero121]

The market of bitcoin is neither bullish nor bearish. This trend continues with no big move, upon which it is difficult to predict the real market situation for the upcoming days. More chances for a downtrend is being felt as there is fluctuation and no growth. Maybe for a bigger price push on halving there is chance for a drop to sub $5000 by the starting of the year. If that happens further ends up with big price pumping by halving. These were all predictions based on the prevailing market.

[el kaka22]

That's actually good analysis, we are talking about a price where bitcoin is holding and not going down anymore, if the price doesn't go any further down even while people still keep selling that means we found the bottom, when you find the bottom and enough people realize it than follows the buys because people realize it is the bottom and they can't lose money if they bought from there, when they start to buy others follow and the price eventually goes back up.

There are the reasons why it is really crucial to figure out if this is the bottom or not, if it is not the bottom then it could go down more of course but if it is the bottom then $10k+ will definitely happen once again, it is quite right there for us to reach all depending on how low we could go. I hope this is the bottom so we can go back to great prices again.

[danherbias07]

Looks to me like the manipulators are struggling to bring bitcoin down to a price where they are comfortable to buy again.

Because of that they will be forced to buy even with a higher price although the profits will be low.
That will cause for the bitcoin price to be pumped again. Somehow it is almost like FOMO.

[CarnagexD]

although i am hoping to see $10k sooner than later but i am starting to think that we may end up experiencing another prolonged and boring stable phase like what we had at the beginning of this year with $3k range. of course it is still too early to say and things are still unpredictable. but we are now entering the third week of price being in this range and the market has been calming down a lot too which makes me more confident in what i said.

All of us are waiting that bitcoin hit the price of 10000$ or surpass that price but still, bitcoin is stay at the price of 8200$ to 8300$ so just expect that we really might experience a long stable price. I guess it's better to see experience at a stable price on the market than seeing a bloody market. There is a small possibility that the price of bitcoin will surge 20% before the bitcoin halving or might surge up 20%+ after the bitcoin halving that will happen next year May 2020.

[ecnalubma]

A lots of bull traps and boring price movement from previous months it didn’t get a lot attention to most traders. But maybe this is the calm before storm that we are waiting for, I will be happy if it can reach $10k again this month.

[minime0105]

20% is very conservative thinking considering some of the major upheavals that are currently projected. One of them being the halving event. And then there is the global economic slowdown. Another 2008 like crisis just looming on the horizon. At a time like that, Bitcoin will see immense amounts of investments as national currencies around the world start to fail.
That would be the true test of Bitcoin on whether it can retain its place as the leading crypto.

[LeGaulois]

Dude, I hope you're wrong because I find these periods very boring and very long. Also, just to add my pessimism: Followed by a rise, but a rise that sometimes doesn't put the BTC value to what it was before, Bitcoin doesn't recover fully.
 
Possibly in the next few days, it could rise but no higher than $10k-$11k in my opinion. So as for the title talking about BTC surging by 20%, it's a reasonable bet but where are the $13k?

No charts or stats, just my feelings

[Wexnident]

This is a good analysis and I would be watching for this if this can really be coming trues in the next few days. We are all longing for Bitcoin to get back to the $10K zone as soon as possible. While Bitcoin has been struggling, I can also feel that there remains an energy within the coin to break through this level.

On Saturday evening, the Bitcoin price started to show hints of weakness after a short bout of consolidation. As of the time of writing this, the leading cryptocurrency has dipped to $8,300 — a level which analyst Josh Rager has indicated as key for BTC to hold in order to maintain a formation of consecutively higher lows.

Although there are some expecting for Bitcoin to soon break under $8,300, potentially to establish new multi-month lows under $7,000, an argument has been posed that as long as $7,700 holds, $10,000 is within BTC’s grasp.

I know that we are just speculating here but market sentiment can be a big factor for the movement of the price of any commodity or currency. Are you of the same argument or do you see that Bitcoin will instead go south and be trading below the $7,000 within the coming week? Is Bitcoin now ready to take over the $10,000 price range?

It should probably surge by the end of Q4, or at the very least, stay at its current mean price. But as of now, it should probably just move sidely or move up bit by bit to that 10k dream. To be honest, a lot could still happen before Q4 ends. I expect most of them to be about adoption or surge of coins and hopefully, this could push bitcoin before the year ends. Besides, Bakkt is still pushing ahead and hopefully something could come out of it in after its disappointing launch.

[Dart18]

No, not anymore.
I dont see bitcoin going south that far.
I may go below 8k but not as far as going down below 7k. That will be a mess again and FUDs will keep on coming.
Although there could be a possibility for manipulation, there is still a resistance that is happening in the bitcoin market.
They may be forced to buy now seeing a difficult way to bring it down. So a pump may be sooner than a dump.

[pooya87]

A lots of bull traps and boring price movement from previous months it didn’t get a lot attention to most traders. But maybe this is the calm before storm that we are waiting for, I will be happy if it can reach $10k again this month.

a "bull trap" is when price is on a downtrend and only has a small rise temporarily before continuing to go down. there is no downtrend in bitcoin! we only had a fall in about one single day and have been in this price level ever since! which makes what we have these days another sideways.

[AliMan]

No, not anymore.
I dont see bitcoin going south that far.
I may go below 8k but not as far as going down below 7k. That will be a mess again and FUDs will keep on coming.
Although there could be a possibility for manipulation, there is still a resistance that is happening in the bitcoin market.
They may be forced to buy now seeing a difficult way to bring it down. So a pump may be sooner than a dump.

Manipulation cannot be stopped, since it wasn't proven yet and people do believe that it's likely happening while market declines successively. If that will happen, more whales will come to buy for possible hype, so  don't expect long term holdings. You should grab that opportunity of dumping some portions of your asset to take your own gains, but always remember to have timely monitoring of the trend. It might crash one day due to fud and other bad news that influenced the people through negative thoughts and speculations.

[josephrioveros123]

I don't think it will surge that low to 7 000 USD. But I think many of us is waiting for that to happen and many will invest to ride on when BTC goes up again. But I think the best time to invest is now. It is always on the 4th quarter of the year when BTC value rise. So I think it won't fall below 7k USD but instead it will go up again.

[exstasie]

a "bull trap" is when price is on a downtrend and only has a small rise temporarily before continuing to go down. there is no downtrend in bitcoin! we only had a fall in about one single day and have been in this price level ever since! which makes what we have these days another sideways.

Looking at the chart through rose-tinted glasses, are we?

There's an obvious downtrend on the weekly and monthly charts. Nothing but lower highs and lower lows, and a continuous price decline from the $13,000s to the $8,000s. Technically, every bounce on the way down for the past 3 months was a bull trap.

I'm optimistic that a bullish reversal is near, but it's hard to deny the 45% decline in price.