Bitcoin Price Bounces Back Above $8200, Are Bulls Finally Here?

[error08]

With most of the past two days spent below $8k bitcoin price has been looking extremely bearish. A big bounce in late trading on Sunday, however, sent BTC back above resistance to top out at $8,300. Altcoins are also having a green Monday as the bears are kept at bay for now.

https://bitcoinist.com/bitcoin-btc-price-bounces-back-above-usd-8200/

This didn't age well. The price is barely holding on at $7.500 now. But, that's what the price does. There are no real ways to predict where it will go next.

What do you mean "didn't age well"? Extremely ambiguous.
Bitcoin in bear phase right now, probably testing the new resistance level or continue to decline.
There are a lot of TAs predict bitcoin will drop to $7000 since last month, here we are.
Nevertheless, it should be just a temporary before bitcoin rebound to $8000 level due to we're approaching the end of the year and halving.

[1714903546]

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[1714903546]

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[darkangel11]

We are still far before the bull run will come.
The current situation of the market is not really good, and the bitcoin price might dump lower than we anticipated. The bull run will not happen over a small pump, and it will take more time because of the sudden dump that happen in the market right now.

I don't know whay you're so pessimistic. We were in a bull run for the last 6 months!
A bull run doesn't have to take us to a new ATH. When a tradable asset keeps going up for a month or 2 and ends up with a 300% profit how are you going to call it? A pump? A pump is something that lasts a few hours or a day not months.

for me its not a bull run . the prices were too low for me to call it a a bull run but i will only say that its a bull run once btc return on the 15k+ level   . i dont know to some because other have thier own preference of a bull run  .  bull run does depend on every person  .  pump can also be refer to as a bull run .

This could be because you've never traded other assets. Cryptocurrencies are extremely volatile and taught investors to disregard something like a 20% run up. In a traditional market or forex a 10% run would be big.. You've just experienced a 300% bull run to 14k USD, followed by a 45% correction and think it wasn't something big. It was!

If we were to follow a typical bitcoin pattern we'd go up by at least 500% and then correct 80-90% down. That would take us somewhere around 5000 dollars but this wasn't a 500% run so we cannot compare.

[GMoore87]

$7475 currently.
Can plummet to $6K

[chaoscoinz]

With most of the past two days spent below $8k bitcoin price has been looking extremely bearish. A big bounce in late trading on Sunday, however, sent BTC back above resistance to top out at $8,300. Altcoins are also having a green Monday as the bears are kept at bay for now.

https://bitcoinist.com/bitcoin-btc-price-bounces-back-above-usd-8200/

I still feel that it may be too soon to say exactly, just because the market makes a slight recovery, doesn't necessarily mean we're back on the bull run. I think that regulatory scrutiny over libra and the recent rejections over a few ETF proposals have caused the trust to slip and the market is effected by it.
   Their is no choice now but to try and remain optimistic while we wait and see.

[Kemarit]

$7475 currently.
Can plummet to $6K

Yeah, but the price goes to $8600 in the last 24 hours. So I guess we have to wait for your $6000 scenario so that we can buy and stash more BTC in our wallet.  . Good to see though that we have a tremendous recovery today. But I think we are going to trade on a sideways pattern and going to repeat itself until we make a break out run until the end of the month. So let's see how it goes, the CME's future expiration today has something to do with the sudden boost, but that's just my speculation.

[Youghoor]

With most of the past two days spent below $8k bitcoin price has been looking extremely bearish. A big bounce in late trading on Sunday, however, sent BTC back above resistance to top out at $8,300. Altcoins are also having a green Monday as the bears are kept at bay for now.

https://bitcoinist.com/bitcoin-btc-price-bounces-back-above-usd-8200/

This is just the beginning of the bull run of Bitcoin. The price of Bitcoin will be hitting $12k in the first week of November and gradually move back to $20k just like in 2017. But 2020 will be the year the market value of bitcoin will never drop below $8k.

[magneto]

Extremely surprising to me. I don't think that this level of growth is sustainable in the short term, but in the long run, this could be the spark for the next bull run for sure.

The $9k resistance has been broken through in no time it seems.

I think that $10k should still pose a significant resistance, but obviously that is unclear right now. I personally can see an adjustment happen very soon, since this seems a hell of a lot like a short squeeze.

[ashmodeus]

nowadays, i guess yes.
finally bull see some good signal to join again to the market.
and i guess it will likely find extreme resistance ,and also added a number of factors from the bakt and bitmex markets to make sure btc won't drop below 8000 anymore.

[bitgolden]

Extremely surprising to me. I don't think that this level of growth is sustainable in the short term, but in the long run, this could be the spark for the next bull run for sure.

The $9k resistance has been broken through in no time it seems.

I think that $10k should still pose a significant resistance, but obviously that is unclear right now. I personally can see an adjustment happen very soon, since this seems a hell of a lot like a short squeeze.

I want to believe that we already have some institutional investor that entered the market which is why we could break the $9k resistance with about 56 billion dollars, but with this spike, I expected fomo to actually take some part in it but yet to see the effect of that which I am still waiting a little bit to monitor the price and see what will actually happen within the next few days or few weeks of this sudden increase.

I don’t think that the value will decline again from that $9k and I t think we have already broken that resistance for good, but if the value still drop below its current price, it will still be a good buy for some people, because sometimes it is good to just be buying nay dip that we can buy in bitcoin, someday, the value will rise above that purchase.

[The Sceptical Chymist]

BTC is $7500 as I write. BULLS??  I am seeing Bears are back in the market  

Crazy that you wrote this post only four days ago and in that time bitcoin's back up to over $9300.  

I'm not saying the bulls are back, but at least some of them are and they're buying bitcoin left and right.  I'll be happy if we stick around at this level for a while, as it would restore some faith that some traders probably lost after the last dippity-dip.  In any case, those weak hands were shaken out just as they always are--and hopefully the bull run that we saw earlier this year can resume.  I'd really like it if bitcoin could spend most of 2020 above $10k, but I might be a little too hopeful.  But maybe not.

$7475 currently.
Can plummet to $6K

Guess that didn't happen, eh?

[CarnagexD]

The bull run is not yet started and what we experience a few days ago is just a bull trap. As of now the price of bitcoin still remain at the price of 9200$ and until now there is no up or down movement unlike yesterday you can see a changeable movement. We still do not know when the bulls start but I'm quite sure that bull run might happen after the bitcoin halving that will happen in May 2020.

[alexsandria]

With most of the past two days spent below $8k bitcoin price has been looking extremely bearish. A big bounce in late trading on Sunday, however, sent BTC back above resistance to top out at $8,300. Altcoins are also having a green Monday as the bears are kept at bay for now.

https://bitcoinist.com/bitcoin-btc-price-bounces-back-above-usd-8200/

It seems now that bulls are still not here. On the contrary, bear market is back again, I am afraid. Bitcoin price has declined harshly to 7500 dollars from 8200 dollars. I hope the price gather itself as soon as possible.

Price are just changing from 7,500 $ range. Sudden change lately may be made by those people who manipulates the market. Right now we're are experiencing bear market though aren't this something proper time to buy some coins bitcoins? I am confused whether to buy or not 'cause market maybe could go lower than it already today. In addition, sooner bulls might come in or maybe such sudden changes are just hint by an incoming bull run what ya think?

[bitbunnny]

Current price rise isn't enough to conclude that we have conutinuous and stable bull trend. To my opinion is more temporary price pump trend that will not last too long. Price has not continued to grow and we might experience some more corrections. I don't think we will see true bull run this year.

[Darooghe]

There is no one in this world who can predict price of bitcoin (especially with TA), price predictions are as volatile as Bitcoin itself, with many of the predictors flip-flopping on their predictions. but I can tell you one thing for sure, that the super bullish is coming. last time, when Bitcoins crashed, the recovery was amazing and exceeded my expectations.

One of the things I know is bitcoin will be more popular in two years and more people will want to hold this cryptocurrency. this tendency will boost the price in the raising direction in value. next year should be exciting. More and more countries start talking about fully recognizing it as currency, ATMs network is growing strong, more places start to accepting bitcoin as payment method. i think we have bright future and have good time to be alive. There are plenty of opportunities to make money from bitcoin, it's developing and adaptation.

[btc_angela]

Current price rise isn't enough to conclude that we have conutinuous and stable bull trend. To my opinion is more temporary price pump trend that will not last too long. Price has not continued to grow and we might experience some more corrections. I don't think we will see true bull run this year.

Obviously, it was just pump to look as if we are in a bull run. But the whales might be setting everyone for a bull. trap here so be careful. And after that pump, the price seems to be on another swing, but the good thing is that we have now a strong support @$9k and I do hope that it will hold and sustained until a new break out pattern emerged @$10k.

[buwaytress]

BTC is $7500 as I write. BULLS??  I am seeing Bears are back in the market  

Crazy that you wrote this post only four days ago and in that time bitcoin's back up to over $9300.  

We can keep saying how crazy Bitcoin is, and it just never gets old does it?

We've all been here before, this has all happened before, and we'll be here tomorrow to say that again and again, but it's crazy how people still keep getting caught out, keep getting surprised, and keep returning to their old mantras of doom and gloom when the slightest signs of pullback show up.

I thought they still teach big picture in school =p

[Ailmand]

The price of bitcoin had been crazy just a few days ago, suddenly dropped and pumped. However, compared to the price during the first quarter of the year, I guess the price is slowly recovering and increasing as the halving approaches. Slow growth is healthier than a sudden pump, so I guess we will see a few pumps and dumps once more but we will see the price slowly increasing.

[bhabygrim]

I think it would start to go up now but we don't know how far it could go from this point.
There are so many speculations and I wonder how much it could really come true ,
We have so many speculations about this year ends price for 1 BTC and I think it would be high since we are also expecting the halving next year.

[watergold]

Current price rise isn't enough to conclude that we have conutinuous and stable bull trend. To my opinion is more temporary price pump trend that will not last too long. Price has not continued to grow and we might experience some more corrections. I don't think we will see true bull run this year.

Obviously, it was just pump to look as if we are in a bull run. But the whales might be setting everyone for a bull. trap here so be careful. And after that pump, the price seems to be on another swing, but the good thing is that we have now a strong support @$9k and I do hope that it will hold and sustained until a new break out pattern emerged @$10k.

So is this just a series of whales controlling pumps on the market for bitcoin? we don't know what will happen next I think the bullrish trend hasn't come yet this is only temporary, bitcoin 9.3k is currently in 2% down condition but i think this will touch to 8.7k as the lowest.

[iamsange]

Bull trend i believe will come next year, maybe before halving, and a moment after halving. But i am not use analysis because i can't. Only speculate and maybe not suggest people to follow what i do. And for not correction and recovery will keep happen, because beside demands that i  believe still high on bitcoin, some reason will make it get correction in market.