[2019-10-25] Bitcoin price doesn't care about manipulators and is up $1200 in 2h

[darkangel11]

How about that? People were panicking when they saw someone dump and smart people were saying it's a manipulation since most of this dump was on Bitstamp. Now we're back up and not to the 8k where it all started but past that all the way to 8700 USD. It didn't even stumble on 8k like that level never existed and broke through higher.
I'm usually bullish but now even more after seeing this. How about you?

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[Doell]

many opinion also talk about going down to 5000 usd and 6000 usd but I don't care about that ,manipulation we often encounter and I still trust big investors who can make the impossible to possible or vice versa ,my opinion maybe will continue to advance and certainly there is still possible hold on wall between 9000 usd - 11,000 usd at the end of this month

[exstasie]

How about that? People were panicking when they saw someone dump and smart people were saying it's a manipulation since most of this dump was on Bitstamp. Now we're back up and not to the 8k where it all started but past that all the way to 8700 USD. It didn't even stumble on 8k like that level never existed and broke through higher.
I'm usually bullish but now even more after seeing this. How about you?

Oscillators are running high on the 1-hour and 4-hour time frames. So in the short term we're probably in for a pullback off $8,800. I do believe now that $7,300 was the bottom of this correction though.

I'll be more confident in that assessment once we form a higher low on the 4-hour, and after seeing how the next trading range develops. I'd prefer to see bulls hold strong in the $8,000s......that would make for an epic bear trap!

Dripping back below $7,700 would be a very bearish sign. That possibility is still there. There's a major decision point coming soon.

[darkangel11]

many opinion also talk about going down to 5000 usd and 6000 usd but I don't care about that ,manipulation we often encounter and I still trust big investors who can make the impossible to possible or vice versa ,my opinion maybe will continue to advance and certainly there is still possible hold on wall between 9000 usd - 11,000 usd at the end of this month

5k is the bottom of the long term trendline for BTC but it doesn't mean we have to touch it. As long as we don't go lower we'll continue to do what Bitcoin has been doing for the past 10 years. 9-10k is a fine price, sort of a half-way between 5-6k that used to be a strong support in 2018 and 15k that we couldn't break this year.

Oscillators are running high on the 1-hour and 4-hour time frames. So in the short term we're probably in for a pullback off $8,800. I do believe now that $7,300 was the bottom of this correction though.

I'll be more confident in that assessment once we form a higher low on the 4-hour, and after seeing how the next trading range develops. I'd prefer to see bulls hold strong in the $8,000s......that would make for an epic bear trap!

Dripping back below $7,700 would be a very bearish sign. That possibility is still there. There's a major decision point coming soon.

I also believe this was the bottom. The recovery was very strong, much stronger than the panic was during the dump. To be honest, there was almost no panic and the sales on bitstamp were measured perfectly to manipulate futures, which follows only 3 or 4 biggest exchanges, out of which bitstamp has the lowest volume and was the best target for manipulation. We'll see if they try this again.

[BitHodler]

I was quite bearish in the last couple of weeks but have to say that I am very impressed by this reaction of the bulls, which is indicative of strength. I'm not going to say that we're out of the woods yet, but I'm very optimistic.

It's so funny when you see the price go up like $200 that you aren't interested at all, then hours later turns out that $200 increase was the start of an incredible pump that went higher than most people could have imagined.

It's yet another case of how the bearish sentiment of the mass works perfectly as counter indicator. The only thing is that with lower weekend volumes we might see the price give up some of its gains, so don't be surprised by that.

[pixie85]

That 7300 level held strong. I even told one of my friends to buy when we touched 7500 and he almost got scared when we went 200 dollars lower but I told him to sleep on it and now he's so happy that when I asked if he's planning to take some profit he was like -nah, I'm gonna hold long term

I don't remember being bearish about Bitcoin even for a day since we broke 5000 dollars this year.

[exstasie]

I was quite bearish in the last couple of weeks but have to say that I am very impressed by this reaction of the bulls, which is indicative of strength. I'm not going to say that we're out of the woods yet, but I'm very optimistic.

Yup, we need a few things to happen first before I'd consider the bottom "confirmed."

1) Daily close: right now it's a bullish engulfing candle. We need to close the day above $8,049 to confirm the last dump as a failure.
2) Weekly close in 2 days: right now it's a dragonfly doji or hammer, both very bullish. We need to close the week that way.
3) VPVR notch, historical pivots, and 50-week MA at the $9,000 area: I think we will consolidate/pull back against this level. We need bulls to form a solid higher low.

Higher lows, higher highs, and then we've got a stew going......

It's yet another case of how the bearish sentiment of the mass works perfectly as counter indicator.

Totally. People have been uber bearish lately.

[dark08]

This is amazing run for bitcoin in just couple of hours the price move upto $1200 I think this news https://www.coindesk.com/president-xi-says-china-should-seize-opportunity-to-adopt-blockchain?utm_source=twitter&utm_medium=coindesk&utm_term&utm_content&utm_campaign=Organic%20&amp&__twitter_impression=true have an impact to the market just checking the daily timeframe its look like bullish confirming on rsi and macd divergence.

[Beparanf]

That 7300 level held strong. I even told one of my friends to buy when we touched 7500 and he almost got scared when we went 200 dollars lower but I told him to sleep on it and now he's so happy that when I asked if he's planning to take some profit he was like -nah, I'm gonna hold long term

I don't remember being bearish about Bitcoin even for a day since we broke 5000 dollars this year.

We never know how long this bullish will happen so it's good he is able to buy that amount, $7300 is all it can let before it start being bullish without us expecting it, It may be true about China but the tremendous effect been too fast in just one night, coincidence or manipulated doesn't matter since we really know that BTC is really capable of increasing this fast when adoption happens another 2017 spike might happen even in altcoins it moving fast.

[Wexnident]

Oscillators are running high on the 1-hour and 4-hour time frames. So in the short term we're probably in for a pullback off $8,800. I do believe now that $7,300 was the bottom of this correction though.

I'll be more confident in that assessment once we form a higher low on the 4-hour, and after seeing how the next trading range develops. I'd prefer to see bulls hold strong in the $8,000s......that would make for an epic bear trap!

Dripping back below $7,700 would be a very bearish sign. That possibility is still there. There's a major decision point coming soon.

And we're already in the 10k bro. Guess the pullback didn't happen then. I'd expect one though since the pump was seriously way too unnatural with how it jumped to 10k in less than a day from 7300$. Luckily, this shows that the news regarding quantum supremacy were  not enough to affect the market and the drop to 7300 was just temporary due to a sudden dump ny a few traders.

[CryptoBry]

That 7300 level held strong. I even told one of my friends to buy when we touched 7500 and he almost got scared when we went 200 dollars lower but I told him to sleep on it and now he's so happy that when I asked if he's planning to take some profit he was like -nah, I'm gonna hold long term

I don't remember being bearish about Bitcoin even for a day since we broke 5000 dollars this year.

We never know how long this bullish will happen so it's good he is able to buy that amount, $7300 is all it can let before it start being bullish without us expecting it, It may be true about China but the tremendous effect been too fast in just one night, coincidence or manipulated doesn't matter since we really know that BTC is really capable of increasing this fast when adoption happens another 2017 spike might happen even in altcoins it moving fast.

Bitcoin just made a sudden reversal and is now almost at $10,000. This has been a very amazing run and I am considering it as a mini bull run before the year ends. While there had been many people telling us that Bitcoin will be touching the $6000 before it can go back growing again, Bitcoin proved them wrong with this abrupt upward movement.

Of course, there is no guarantee that it can hold on to this current level but this can be a very encouraging move from Bitcoin and the message is quite clear: Don't just give up on your Bitcoin, it got many secrets under its sleeves. Those people who bought Bitcoin when ti touched $7400 are now happy and satisfied.

[huu78]

Yes, this is not manipulation. This is good news that causes Bitcoin to go straight up.
Xi Jinping, the president of the People's Republic of China and the general secretary of the Communist Party of China,
said the country needs to "Seize opportunities" given by blockchain technology. Currently all on a buy panic. Go to the moon now?

[BChydro]

It didn't even stumble on 8k like that level never existed and broke through higher.
I'm usually bullish but now even more after seeing this. How about you?

The market trend of bitcoin always surprises me, when the market was on a correction phase i was expecting the price to recover slowly but then the market soared 28.50% till now and it is moving higher, not sure the exact reason for the rally now but i guess the future market took the market down and now the month end contracts are done and the market is breaching new boundaries.

[AliMan]

How about that? People were panicking when they saw someone dump and smart people were saying it's a manipulation since most of this dump was on Bitstamp. Now we're back up and not to the 8k where it all started but past that all the way to 8700 USD. It didn't even stumble on 8k like that level never existed and broke through higher.
I'm usually bullish but now even more after seeing this. How about you?

It more than of $8k or beyond $9k now, because it's even $9,713 has broke up the price remarkably. I cannot express my feeling to see this progress begun to perform greatly, and every now and then we might see some impossible changes. Although I had and excitement for what I experienced lately, I prefer to remain calm and control myself so I may avoid myself dumping the holdings I had.

[pooya87]

Oscillators are running high on the 1-hour and 4-hour time frames. So in the short term we're probably in for a pullback off $8,800. I do believe now that $7,300 was the bottom of this correction though.

I'll be more confident in that assessment once we form a higher low on the 4-hour, and after seeing how the next trading range develops. I'd prefer to see bulls hold strong in the $8,000s......that would make for an epic bear trap!

Dripping back below $7,700 would be a very bearish sign. That possibility is still there. There's a major decision point coming soon.

I also believe this was the bottom. The recovery was very strong, much stronger than the panic was during the dump. To be honest, there was almost no panic and the sales on bitstamp were measured perfectly to manipulate futures, which follows only 3 or 4 biggest exchanges, out of which bitstamp has the lowest volume and was the best target for manipulation. We'll see if they try this again.

i actually disagree. the "bottom" was $9500-$9800 and anything below that was considered "below bottom" which makes those prices a type of reverse or negative bubble which had to pop. and the evidence of the market reaction and the way this "reverse pop" took place supports that too, as you can see it was a sudden rise (similar to bubble pops which are sudden drops). both are similarly catastrophic as it is the characteristics of bubbles.

[gentlemand]

I'm not sure what caused this movement but it does show how far there is to go until it starts to act sensibly.

We no doubt find this arousing but it sends something of a mixed signal - we're open for business but still off the fucking wall.

The percentages are similar to when it was sub 1 dollar.

[EdenHazard]

I'm not sure what caused this movement but it does show how far there is to go until it starts to act sensibly.

We no doubt find this arousing but it sends something of a mixed signal - we're open for business but still off the fucking wall.

The percentages are similar to when it was sub 1 dollar.

In the last couple weeks crypto hits by numerous unpleasant news include how a big project such as libra .. ( it might not really a form of cryptocurrency ) but in fact it bring a sentiment to people's views around the world regarding the whole cryptocurrency projection, another one is telegram tokens that postponed its distribution/launching due SEC emergency restraining order ... both project is well known as a mainstream app that backing cryptocurrency project..  people especially a newcomer having tough times to continue trust on crypto but the panic selling in the market happened right after those news published.

Yesterday ... a shocking statement come up from China president Xi Jinping's mouth called for the country to accelerate its adoption of blockchain technologies. Although it's not mentioning bitcoin directly... people seems got FOMO.

I believe there's no such thing as a coincidence, this is the fact. China well known actively banning crypto activity but now all of sudden... they want to support blockchain projects?? Well .. this might a temporary pump.

[BitHodler]

I'm not sure what caused this movement but it does show how far there is to go until it starts to act sensibly.

No one knows, but that's the beauty of this market. It shuts up every critic continuously, where these increases are also the reason they don't dare to short Bitcoin, because it would rekkt them hard.

People hoping for moon need to be aware that there is a general law within crypto that anything that goes up hard comes down hard.... especially when profits have to be taken by institutions of which most are closed now.

[figmentofmyass]

I'm not sure what caused this movement but it does show how far there is to go until it starts to act sensibly.

We no doubt find this arousing but it sends something of a mixed signal - we're open for business but still off the fucking wall.

The percentages are similar to when it was sub 1 dollar.

seriously. it took months for the market to drill down to the $7000s, and all those losses were just erased in a day! madness......

in 24 hours, we went from $7389 to $10540---42.6% from low to high. that's enough to liquidate bitfinex shorts (which were chopped in half). usually we're just talking about bitmex. speaking of which:

[ReiMomo]

Probably yes, we don't know what is the accurate reason for this triggering sudden pumped up. I ever there are manipulators or whales they are also getting tired probably because of having a mass adoption. As of now, I can see that the market rapidly surged upward, before it was struggling when it comes rising up it takes a week before it raises but now in just almost 2 days it has already a +40% increase in the market.
The promising of having the next halving is real.