Bitcoin Bottom Has Passed, Delphi Digital Says

[hugeblack]

The above report listed how Bitcoin rose to that value but did not analyze the reasons for the rise or show the charts that may lead to predicting prices in the future.
Stability at 9,200 represents only the exclusion of reaching $ 6,000 levels in the event of a collapse, but that does not mean it will not happen.
Historically, the price tends to stabilize or rise to levels above current levels, so it is likely that the price tends to rise to levels above $ 10,000 because the end of the year is characterized by increased spending, which means that demand for currencies will increase.

[CryptoBry]

Bitcoin (BTC) saw a boost to its volumes in October, especially during the last volatile week of the month. Delphi Digital suggests more active trading may suggest the market bottom is already behind us.

That can be big positive news to all of us here in the world of Bitcoin and cryptocurrency. Bitcoin is the leader of the pack and so alts tend to be following the cue of Bitcoin most of the time. Will this mean that Bitcoin is in the best position to make  a good jump especially in December? That can be a big possibility though nobody can totally take away that risks of it getting back to the $8000 zone. Anything is possible from here on and all we can do is just wait and share the positive aura to the whole market.

I also foresee things coming together as early as now, and there's no sign of a bearish market. There are quite a lot of positive news that's coming to Bitcoin, or cryptocurrency in general. There's the news about Starbucks opening support to crypto through Bakkt, and the nearing halving of bitcoin generation that would impact the supply, and given the continuous or much more demand, would make the prices soar.

Maybe the bear is finally pushed back to the woods and he can finally have the best time enjoying his vacation there. We are definitely in a bullish period of Bitcoin and hopefully this bullish energy can be leading us to the BULL RUN time which I am predicting can happen within the months of 2020. There is now a very visible growing interest with Bitcoin as institutional money is now starting to take a good notice. We are just waiting for an avalanche and the dam will soon be bursting, figuratively speaking.

[NeuroticFish]

Bitcoin (BTC) saw a boost to its volumes in October, especially during the last volatile week of the month. Delphi Digital suggests more active trading may suggest the market bottom is already behind us.

Afaik they've been saying in May that bottom has passed and they were right. Good.
But why are they telling the same after 5-6 more months?! Although somewhat reassuring, this is not news.

[1Referee]

We are just waiting for an avalanche and the dam will soon be bursting, figuratively speaking.

What bull run do people expect now? From $9000 to $100,000 before the end of 2020? That's unrealistic because there is so much heavy on volume historical price activity between $10,000 and $20,000 that an attempt to touch the current all time high is the most we can expect before 2020 ends.

Most of the major moving averages on the weekly time frame will take a long time before they finally pass the $10,000 level to support the price would it retest them (which will happen eventually).

The 200 weekly moving average that supported the price in december of last year around $3200 currently hovers around the $4800 level. It took almost 11 months for that moving average to climb up $1600 and it only did so because of the run to $14,000 we had this year. It's great and all to be bullish, but it's also important to not forget the technicals.

[danherbias07]

If that is true then thank God.
But rare cases still happens.
One is before the halving. A manipulation might be seen before that. We don't know how this whales think.
We might see a great dump but won't take long. That is my own speculation though.

Better to be also be ready for that. Trading might not be much profitable now but with FUD and FOMO then the wave could go wild.

[boltz]

Indeed bottom has been long passed. The bottom was at 3k$ and that was it. Since then we should be glad that we had this small dips in price giving us the opportunity to accumulate Bitcoin again and even the carts point in this direction as we're still in a strong accumulation zone so I would expect the price to stay above 9k$ and under 10k$ until the end of the year.

[The Sceptical Chymist]

Obviously, the bottom was $3000, bitcoin price increase more than 200% to date.

Sure, that's what it looks like in hindsight, but I've been into bitcoin long enough to know that anything can happen--even a drop from $9300 back down to $3000 or even below that.  Do I think that's going to actually happen?  Not really, but it absolutely could.

I don't know anything about Delphi Digital.  They could be the smartest people on the planet, but I'm still going to take their assertion with a gigantic grain of NaCl.  Even if bitcoin didn't crash all the way back down to $3k, it could easily fall to somewhere in the $7k range and I'm not sure where the "bottom" even is.  Is it the lowest price bitcoin got to after the crash from its ATH?  The lowest since Mt. Gox?  This is why I generally hate predictions and prognostications put out by professionals.  They're usually vague and often mistaken.

[carlfebz2]

We are just waiting for an avalanche and the dam will soon be bursting, figuratively speaking.

What bull run do people expect now? From $9000 to $100,000 before the end of 2020? That's unrealistic because there is so much heavy on volume historical price activity between $10,000 and $20,000 that an attempt to touch the current all time high is the most we can expect before 2020 ends.

Most of the major moving averages on the weekly time frame will take a long time before they finally pass the $10,000 level to support the price would it retest them (which will happen eventually).

The 200 weekly moving average that supported the price in december of last year around $3200 currently hovers around the $4800 level. It took almost 11 months for that moving average to climb up $1600 and it only did so because of the run to $14,000 we had this year. It's great and all to be bullish, but it's also important to not forget the technicals.

Not new to see those unrealistic numbers without even reviewing or considering on what are the past movements of the price.It would really takes time for us to reach higher numbers and we should think first on how to reach up or break ath than considering or do talk about hundreds of thousands price.This is why technicals do exist since we can presume on what would be the possible movement and i do much prefer on having a slow pace of movement than on a very fast increasing ones.

[imstillthebest]

Indeed bottom has been long passed. The bottom was at 3k$ and that was it.

3k ? this year ? no i dont see that comming but afaik the lowest that we achieve this year was at 6 to 5k usd  but the 3k atl that you mention was i think on the past past years price of btc  .  for me i think there will be more bottom in the future including on this year because there are still some months left but i dont wish for that to happen because im an anti dip  . id be more happy  to see the price soaring high because this was the only time that i can earn better  .

[SaShiRaJaVu]

Bitcoin (BTC) saw a boost to its volumes in October, especially during the last volatile week of the month. Delphi Digital suggests more active trading may suggest the market bottom is already behind us.

It is too early to determine whether the market bottom is behind us, you never know what will happen before the halving, we might not see the market going down till December but it will be interesting to know how the market will react after New year and usually we usually see the market going down during that period and lets see how the market performs during that period and then we can tell that the bottom is behind us.

[target]

Yep $7k is their bottom. I guess because it touches many times to that support. They didn't consider $3k to be the bottom when it really is, it just bounce back up quickly.

Indeed bottom has been long passed. The bottom was at 3k$ and that was it. Since then we should be glad that we had this small dips in price giving us the opportunity to accumulate Bitcoin again and even the carts point in this direction as we're still in a strong accumulation zone so I would expect the price to stay above 9k$ and under 10k$ until the end of the year.

Its a much ideal price up til mid 2020, its just not how things work when halving is fast approaching. Its already presumed those miners will sell their coins for a higher price and traders will do so as well.

[alexsandria]

Whoever said that, even the most popular personality in crypto, I still won't believe it's guaranteed.
The point is once the market is unpredictable, it will remain unpredictable and therefore we might see another bottom before it pump or we will just see a one sided pump, we really don't know, what I do is I just believe and remain optimistic that time will come that BTC will have a new ATH again.

Unpredictable yes it is. But atleast we are seeing a several positive news. Such news will might as well be considered a foundation for an pumps or a sign of bearish market not to come at the moment. Though it is unpredictable but it such pumps, bull run ain't just happening for no reason at all. Well I am not forcing you either to believe.

[Wysi]

Whoever said that, even the most popular personality in crypto, I still won't believe it's guaranteed.
The point is once the market is unpredictable, it will remain unpredictable and therefore we might see another bottom before it pump or we will just see a one sided pump, we really don't know, what I do is I just believe and remain optimistic that time will come that BTC will have a new ATH again.

Unpredictable yes it is. But atleast we are seeing a several positive news. Such news will might as well be considered a foundation for an pumps or a sign of bearish market not to come at the moment. Though it is unpredictable but it such pumps, bull run ain't just happening for no reason at all. Well I am not forcing you either to believe.

Yes I agree, as we have two set of people over here wherein one never believes that the bearish market will end and questions every positive new and the other set of people have no idea about the market situation and keeps saying that bitcoin will reach moon and all. Sometimes we need to look at the brighter side as well even though market is unpredictable.

[wajik-tempe]

Whoever said that, even the most popular personality in crypto, I still won't believe it's guaranteed.
The point is once the market is unpredictable, it will remain unpredictable and therefore we might see another bottom before it pump or we will just see a one sided pump, we really don't know, what I do is I just believe and remain optimistic that time will come that BTC will have a new ATH again.

Unpredictable yes it is. But atleast we are seeing a several positive news. Such news will might as well be considered a foundation for an pumps or a sign of bearish market not to come at the moment. Though it is unpredictable but it such pumps, bull run ain't just happening for no reason at all. Well I am not forcing you either to believe.

Yeah preparing for any condition is a must thing in investing in cryptocurrency because price can be affected by news and news could be manipulated. It's really make sense if someone say bitcoin already reach it's dip this year and won't go down under that dip again, and so many good news lately makes bitcoin stand still on 9,3k+ , but things still can happen and we have to set a stop loss for our bitcoin investment

[audaciousbeing]

Bitcoin (BTC) saw a boost to its volumes in October, especially during the last volatile week of the month. Delphi Digital suggests more active trading may suggest the market bottom is already behind us.

https://bitcoinist.com/bitcoin-bottom-has-passed-delphi-digital-says/

This is just the problem I have with columnist and its because they surely lack consistency. Now its about how the bottom is behind and how we are ready for the next all time high and the moment the reverse is happening, they are the first set to release articles to even publicize the calamity that have befallen crypto. The point is there is no point that cannot be reached again whether on the positive side or the negative side. The difference is the activities that happen using the market forces as a deciding factor in what happens to price.

[beerlover]

Considering we are getting very close to halving (just 6 whole months left) it makes sense that price may not go down ever again to sub 8 thousand dollar levels.

Consider the fact that bitcoin will be going up after the halving people will start buying bitcoin before the halving (I sense that people will overbuy bitcoin to get ready for halving and price will be already ballooned up so price may not go up as much as people anticipated and that may result with going down after halving) and those people who buy bitcoin will make it go up before the halving which would mean if the price goes down right now they would buy even more, they would buy even if it doesn't go down, hence there is a good demand of bitcoin even tho some people try to sell as much as they can to keep it low.

[acdc]

Everything is possible in this market. When Bitcoin cost $ 20,000 nobody thought it would drop to $ 3000. I am not sure if Bitcoin's bottom is behind or not, but in recent times there has been a lot of good news about the cryptocurrency market so everyone can expect that Bitcoin price will increase continuously.
I really hope Bitcoin will reach $ 15,000 by the end of 2019.

[jostorres]

Bitcoin (BTC) saw a boost to its volumes in October, especially during the last volatile week of the month. Delphi Digital suggests more active trading may suggest the market bottom is already behind us.

https://bitcoinist.com/bitcoin-bottom-has-passed-delphi-digital-says/

I think that I will agree with you on this too that bitcoin has bottomed, which makes the future of bitcoin to start looking so promising now in preparation for the halving also, which I think most investment that needs to be done is to be done now, because bitcoin could start its bullish trend very soon, I mean the full one because we have not been in the bearish market since the month of April, only the altcoins are still bearish.

The only thing we could see again right now is just some corrections, which is good for us to have chance to always enter the market whenever we miss a dip, so when we see some dip, we should not confuse it to bottom as some people do call some corrections of bitcoin as it being the bottomed again.

[barota]

in my opinion ; this strategie of waiting new bottom every year not good . past year prices bitcoin fall under 3500 usd per btc . now prices rise a lot . i agree that bitcoin bottom has passed past year always . if they talk about new bottom not of the past . i say halving come day by day . so i expect another new high price more than 18000 usd per btc

[Oceat]

Everything is possible in this market. When Bitcoin cost $ 20,000 nobody thought it would drop to $ 3000. I am not sure if Bitcoin's bottom is behind or not, but in recent times there has been a lot of good news about the cryptocurrency market so everyone can expect that Bitcoin price will increase continuously.
I really hope Bitcoin will reach $ 15,000 by the end of 2019.

But it's over a year before Bitcoin dropped to 3k in January 2019 after that ATH on December 2017. That 3k probably was the bottom this year so we are now moving for the next year speculation since the halving is just months away. Expecting 15k this coming December is far from what I saw in the market. I don't know what would be the new ATH of Bitcoin next year but I do hope it's beyond 20k or more.