Are You Concerned On Sudden Rise of Bitcoin?

[wajik-tempe]

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

Sudden pump and dump is usual thing in crypto because it's decentralized and the whales is in every exchanges. So if they make a move the market will shaking.
The speciality of crypto is the volatility and i think it won't make something bad for crypto because that's the nature of crypto. and after reaching the resistance on recent pump, the price looks like stable on 9k+ and i think it will ready to the next pump.

[mladen00]

what rise?

[Taskford]

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

Sudden pump and dump is usual thing in crypto because it's decentralized and the whales is in every exchanges. So if they make a move the market will shaking.
The speciality of crypto is the volatility and i think it won't make something bad for crypto because that's the nature of crypto. and after reaching the resistance on recent pump, the price looks like stable on 9k+ and i think it will ready to the next pump.

I find it natural thing happening on the market and it will make crazy feelings to the new traders since they will surely afraid of the volatility, But I can say that we are in goodd shape right now since as you said the market goes stable and most provably we can see a good ups or maybe a bull run.

[AliMan]

We will be concern if the sudden rise is a bear trap, but days have gone and so far it it still holding and it looks like going to be sustainable at least in $9k range. So the concern would be if the price goes to $7400 again and then goes on another side way trading patterns.

So it's a sigh of relief for now and no need to be concern at this point. Maybe we could see another break out to $10k again next month. We are almost at the end of the year now, so I do hope at least a good 5 digit this year and see how it goes prior and after the much touted block halvening.

Recently, bitcoin price punched back at $9100 based on my updated blockfolio. So then, another demand is coming over to recuperate the losses and again this will recover at a given percentage depending on each trading activities worldwide. Also for some coins whose been closely affiliated with bitcoin tradings, you'll observed a definite changes from time to time.

[topbitcoin]

Last dump, before price back again, i think is correction. For now at least price keep stable like this is already ok for me. I mean, bitcoin price not time yet to pumped a lot, that is why pump and dump is not much for now. But this is only speculation from me, because price still look not really move at current rate. When moved, it will back again.

[TinaK]

Last dump, before price back again, i think is correction. For now at least price keep stable like this is already ok for me. I mean, bitcoin price not time yet to pumped a lot, that is why pump and dump is not much for now. But this is only speculation from me, because price still look not really move at current rate. When moved, it will back again.

Yeah I don't know where these people saw the rise on Bitcoin. I am eagerly waiting to selling my half piece Bitcoin for one commitment. If that is really good we can make more investment on BTC as well as other cryptocurrencies.
So we need to look for the best big investment on cryptocurrency to see such sudden growth else nothing will be there for sure.

[topbitcoin]

Last dump, before price back again, i think is correction. For now at least price keep stable like this is already ok for me. I mean, bitcoin price not time yet to pumped a lot, that is why pump and dump is not much for now. But this is only speculation from me, because price still look not really move at current rate. When moved, it will back again.

Yeah I don't know where these people saw the rise on Bitcoin. I am eagerly waiting to selling my half piece Bitcoin for one commitment. If that is really good we can make more investment on BTC as well as other cryptocurrencies.
So we need to look for the best big investment on cryptocurrency to see such sudden growth else nothing will be there for sure.

This is just personal perspective, not means i said if all people like this, usually when price up and down, there are some people who want to take advantage from it like make it better or make it worse, like when price dump they will make speculation for lowest price of bitcoin so other who easily get panic can be affected. 

[Gotumoot]

Bitcoin is a volatile price back then so don't worry. Investors are well aware of this, They are even more in favor of falling prices because they will have the opportunity to buy cheap bitcoin. They can easily raise the price of bitcoin as they hold large monetary funds that can play into the price of bitcoin.

[SummerBliss]

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

Not much worried frankly speaking as prices have shown growth rate after a long time which indicates pump in the market soon when prices can cross $15k but we might see another correction in between these period which will be followed by the price surges again which is market strategy so we don't need to worry anything. Just be happy,patient and hodl until prices reach your satisfactory level.

[gabbie2010]

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

Not much worried frankly speaking as prices have shown growth rate after a long time which indicates pump in the market soon when prices can cross $15k but we might see another correction in between these period which will be followed by the price surges again which is market strategy so we don't need to worry anything. Just be happy,patient and hodl until prices reach your satisfactory level.

This shouldn't be surprise to early bitcoin adopters they are used to the sudden and abrupt rise in the price of bitcoin, most of us here are more to the use of bitcoin as a store of value and having access and control over our portfolio rather than allow a third party to control it, I believed the price had resumed the bullish sentiment and growth after a prolong correction as you rightly said the price might hit $15K before the end of the year. let us patiently wait for the price to resume another wave of bullish movement.

[teosanru]

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

I think we are never seeing it as a future global currency because of some inherent issues that come with bitcoin. The question is regarding store of value which can really become a big problem if such a trend of BTC continues. No one likes to store their funds in a currency which can go up and down by 20% each day. This would obviously mean burning up your savings in search of greater profits. People would think BTC is merely a gamble and nothing else. I however do hope that volatility may come down if there is an increase in adoption of BTC.

[Ayiranorea]

What is there to concern about the sudden growth, this is common with cryptocurrency. Months back too the similar form of growth happened with bitcoin pumping to reach a price above $13000. For each and everything we can't search for reason to relate to it. As the market has grown after unexpected drop to $7500 people look for something to relate with the growth. Here some feel it a manipulated growth while some mention it as a growth out of China's decision on blockchain. Whatsoever, the growth gives happiness.

[Obito]

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

Quite surprised because we have been longing for around 7k and lower. Though at the same time I am thinking of such abrupt changes made by Whales. As stated by bunch opinions after the market boom. On the other hand what got me is that China somehow involved in such changes. Not sure or may be it is by mere coincidence. Because I never knew China would've been somehow be a part of Crypto industry by a little.

[dragonvslinux]

Maybe everything will be fine and we are just going through the bullish correction at the moment, another accumulation stage before continued bull run.
Either that or $6K is coming if we break the 100 Week Moving Average. Bouncing off the 200 Day MA is a good sign though!
I think either way very soon we will find out where price is heading.

Own work: dragononcrypto

[exstasie]

Maybe everything will be fine and we are just going through the bullish correction at the moment, another accumulation stage before continued bull run.
Either that or $6K is coming if we break the 100 Week Moving Average. Bouncing off the 200 Day MA is a good sign though!
I think either way very soon we will find out where price is heading.

A spring off the 200-day MA to new highs would be a very obvious bullish confirmation for classical technicians. Fakeout below and spring back above.....a classic shakeout!

I really don't think $6K is coming, though we can't close the book on it yet.

[error08]

Maybe everything will be fine and we are just going through the bullish correction at the moment, another accumulation stage before continued bull run.
Either that or $6K is coming if we break the 100 Week Moving Average. Bouncing off the 200 Day MA is a good sign though!
I think either way very soon we will find out where price is heading.

A spring off the 200-day MA to new highs would be a very obvious bullish confirmation for classical technicians. Fakeout below and spring back above.....a classic shakeout!

I really don't think $6K is coming, though we can't close the book on it yet.

Considering bitcoin has passed the bear market in May this year when it rises from $3k-$4K to $8K in June and be able to reach $13K in July. If we take a look at the big picture, whenever bitcoin enter a bull market, then it will stay in a bull market for the next two years to the next ATH like happened in 2012-2014 and 2015-2017. We're seeing bitcoin doing bounce attempt after far a little bit under $9K whether it can break above $9500 level, that's what I'm waiting for to add a long position.

[exstasie]

A spring off the 200-day MA to new highs would be a very obvious bullish confirmation for classical technicians. Fakeout below and spring back above.....a classic shakeout!

I really don't think $6K is coming, though we can't close the book on it yet.

Considering bitcoin has passed the bear market in May this year when it rises from $3k-$4K to $8K in June and be able to reach $13K in July. If we take a look at the big picture, whenever bitcoin enter a bull market, then it will stay in a bull market for the next two years to the next ATH like happened in 2012-2014 and 2015-2017.

Just because it happened a couple times before doesn't mean it'll happen again.

It's possible the run to the $13,000s was a bull trap in a long term bear market that began in December 2017 and hasn't ended yet. That's sgbett's opinion: https://bitcointalk.org/index.php?topic=2541338.msg52818259#msg52818259

It's also possible the 2019 rally was a short-lived, truncated fifth wave and we're entering a new bearish supercycle. That's xxxx123abcxxxx's alternative scenario: https://bitcointalk.org/index.php?topic=5128394.msg52880531#msg52880531

[Distinctin]

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

Quite surprised because we have been longing for around 7k and lower. Though at the same time I am thinking of such abrupt changes made by Whales. As stated by bunch opinions after the market boom. On the other hand what got me is that China somehow involved in such changes. Not sure or may be it is by mere coincidence. Because I never knew China would've been somehow be a part of Crypto industry by a little.

The abrupt change of market price isn't about the whales doing but because of China's participation...

https://www.coindesk.com/bitcoin-jumps-12-as-chinas-xi-embraces-blockchain-boosting-crypto-sentiment

It isn't surprising how they could influence the market trend as we all know that China has a huge number of crypto exchanges and market generators. The come back of China will giving hope for everyone that we no longer suffer huge declines but to expect a bullish market again.

[error08]

Just because it happened a couple times before doesn't mean it'll happen again.

It's possible the run to the $13,000s was a bull trap in a long term bear market that began in December 2017 and hasn't ended yet. That's sgbett's opinion: https://bitcointalk.org/index.php?topic=2541338.msg52818259#msg52818259

It's also possible the 2019 rally was a short-lived, truncated fifth wave and we're entering a new bearish supercycle. That's xxxx123abcxxxx's alternative scenario: https://bitcointalk.org/index.php?topic=5128394.msg52880531#msg52880531

Well, at least that is many people's expectations for bitcoin according to market cycle behavior that tends to repeat over again. There will be fluctuations but I doubt sgbett's opinion will come true, I would like to say in the next couple of months later; hey your prediction was wrong. Halving should be the main reason why bitcoin will not enter the "crypto winter", bear market has passed in the middle of 2019.

But he also said, bullish scenario preferred than bear market

The Bullish Scenario (Preferred) suggests Wave-5 is still underway, and the bulls shall be treated to subdividing and extending waves headed for new all-time highs.
--------
From an Elliott Wave perspective: A common wave relationship guides the price of the fifth wave to be equal to; or extend a Fibonacci 1.618 times; the length from the low of the first wave through to the high of third wave; projected from the low of the fourth wave. This provides a conservative target of the current bull market to conclude between $22,912 and $35,127, calculated using the BraveNewCoin (BLX) index

[Faxmate]

Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.

Is my concern really valid in the face of this ongoing development?

Sudden pump and dump is usual thing in crypto because it's decentralized and the whales is in every exchanges. So if they make a move the market will shaking.
The speciality of crypto is the volatility and i think it won't make something bad for crypto because that's the nature of crypto. and after reaching the resistance on recent pump, the price looks like stable on 9k+ and i think it will ready to the next pump.

The old users of bitcoin and crypto market are fully aware of this quality of the market i.e it never stays stable. Prices fluctuate so rapid and that is why there is a complete separate market for day trading which totally rely on the volatile nature of crypto currencies. Recent pump is in the favor of bitcoin investors and I am sure the btc price is going to higher level by the end of this year.