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Author Topic: Bitcoin is still really bullish (Unpopular opinion)  (Read 313 times)
Astargath
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November 27, 2019, 11:26:57 PM
Merited by El duderino_ (4)
 #1

https://www.coincurb.com/news/bitcoin-long-term-is-really-bullish-and-analysts-are-ignoring-it/

I explain my reasoning a little bit better in the article but long story short, I think, no, I know Bitcoin is bullish long term. Has anyone looked at the monthly chart recently? How is that not bullish? Why are all 'analysts' ignoring it just because Bitcoin is down to 7k? Who cares, it was 3k at the beginning of 2019, Bitcoin is currently 2x higher than 10 months ago, that's bearish? Ok.

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December 02, 2019, 07:14:23 AM
 #2

If we just based its price the whole year yes its still bullish in my opinion. Analysts have their own opinions and bases, some of them might hit the facts or some are just formulating their theories and in the current market situations.

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December 02, 2019, 08:05:12 AM
 #3

If we just look at last 12 months or so then it's still bullish but that's not same for those who have invested in bitcoin while the value was at peak around December 2017 as it's still 2 times lesser than what they have invested. We need to consider every aspect before terming it as bullish or bearish, I am sure there are users waiting for bitcoin to hit their break-even value to sell it off as the are struck from past two years without any sort of profit.

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December 02, 2019, 09:03:10 AM
 #4

Because they saw a larger price and they are using that to make FUDs or spread bad statements into why investors should not buy bitcoin.

But there is something behind it too.
They might have been also offering something like they are part of an altcoin company. With that, they will do everything in their power to just bring bitcoin down and then offer their own work.


 
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December 02, 2019, 09:44:23 AM
Merited by Bossian (1)
 #5

There is a shaking but I dont know who is selling at this price, maybe miners and to who? People are getting greedy at the moment for bitcoin and accumulation is at the peak, I cant explain the factor for the price movement down, everything still look manipulative, those that cant sell at $14k are selling now. Terrible low order at lower price and you wonder how much advantage they want to take from the market. The weak hands looks fewer at the moment, the market is bullish next year as from February towards May.
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December 02, 2019, 10:46:49 AM
 #6

Not all analysts are experts in price analysis and they will give you the real direction. Some of them are trying to give a stir or make a statement.
Some are pessimistic because the price was at $ 12,000 a few days ago and now we are at $ 7000 and others check the future direction of the price.
If we look more broadly, the price was a few dollars years ago.
So we often see the last 3 months as a reference.





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December 02, 2019, 11:04:52 AM
 #7

When was Bitcoin actually "not" bullish? Everyone should zoom out to maximum. If you don't believe in the pattern, then sell and go away.

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December 02, 2019, 11:11:12 AM
 #8

Not all analysts are experts in price analysis and they will give you the real direction. Some of them are trying to give a stir or make a statement.
Some are pessimistic because the price was at $ 12,000 a few days ago and now we are at $ 7000 and others check the future direction of the price.
If we look more broadly, the price was a few dollars years ago.
So we often see the last 3 months as a reference.

Bitcoin needs a new reason for the next bull run. The run up to $12,000 was based on anticipation of Bakkt and the belief this would bring new money into bitcoin. It hasn't wworked out like that.

Bitcoin needs a new story in order to get people to buy again.

 
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daarul50
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December 02, 2019, 01:26:26 PM
 #9

There is a shaking but I dont know who is selling at this price, maybe miners and to who? People are getting greedy at the moment for bitcoin and accumulation is at the peak, I cant explain the factor for the price movement down, everything still look manipulative, those that cant sell at $14k are selling now. Terrible low order at lower price and you wonder how much advantage they want to take from the market. The weak hands looks fewer at the moment, the market is bullish next year as from February towards May.
if we look at the market conditions where the buy order at the same level as the sell order for the last few weeks then yeah this is really strange , the indicators has shown it is a bullish but again it seems stopped by unknown parties.

clearly this is in manipulation by large group of people, i am pretty sure CME BAKKT involved.

take a seat and watch those clown playing their games, we are in good mood heading to halving day.
only fools selling it now cheap to whales.

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1Referee
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December 02, 2019, 01:33:35 PM
 #10

When was Bitcoin actually "not" bullish? Everyone should zoom out to maximum. If you don't believe in the pattern, then sell and go away.
People do not care about the past. They only care about the price after they bought Bitcoin, which generally is around the high of each bull run.

Bitcoin needs a new reason for the next bull run. The run up to $12,000 was based on anticipation of Bakkt and the belief this would bring new money into bitcoin. It hasn't wworked out like that.
Bitcoin does not need a new reason for a bull run, it never did. It erupted when nobody expected it. Bakkt was spit on by the whole space, made fun of. No one bought Bitcoin because of Bakkt.

As always, when the technicals improve, institutions buy, and when they buy, dumb money buys because dumb money pumps money into anything they see increase rapidly.
Wexnident
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December 02, 2019, 02:18:46 PM
 #11

Dude, you're conflicting yourself. The idea was a MONTHLY chart. Of course, based on that observation, BTC would seem bearish instead of bullish. We all bloody know BTC is bullish in the long term. Your explanation is already quite contradicting with the idea of the chart you are currently judging. BTC dropped from 10k to 6.5k and stands at 7.2k, is that bullish? No, its bearish, if you look at it from a MONTHLY perspective. BTC went from 3k to 7.2 from start of the year to now, is it bullish? Yes, if you look at it from a YEARLY perspective.

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ReiMomo
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December 02, 2019, 02:42:51 PM
 #12

When was Bitcoin actually "not" bullish? Everyone should zoom out to maximum. If you don't believe in the pattern, then sell and go away.
People do not care about the past. They only care about the price after they bought Bitcoin, which generally is around the high of each bull run.
This is right, when people buying bitcoin at a high-level point price and suddenly down, of course, they will say that they are losing and hold further time, hoping that they get profit from the time they invested bitcoin. Base on year chart price, we are still on a bullish trend since 2018 when bitcoin dropped to much. But if you look at the chart daily price you can really feel the sudden drop in the price. I hope the promising event will us, the next block halving.

.
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pooya87
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December 03, 2019, 06:41:58 AM
 #13

i don't think we can only categorize the market into two trends and nothing more: bullish and bearish. if that's the only two choices then we obviously have a lot of trouble  determining the trend at most times. for example right now the market is in no ways bearish but it also isn't exactly bullish either.  we had a rather big drop but that doesn't make it bearish. and since price is not on the rise, it can't be categorized as bullish either. this trend is more of a sideways after the big unexpected drop and resembles the transition into the bullish trend possibly with some accumulation.

as for these "analysts", most of them are self claimed! so you shouldn't really bother with what they say. also many of them are only focusing on the short term so even 2 days of falling 5% could be viewed as bearish!

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December 03, 2019, 07:24:50 AM
 #14

I seriously agree with this, people are so worried about the price of bitcoin for some reason but I am not scared at all, I feel super bullish about bitcoin. Maybe today will be a bad day, maybe this week will be bad, maybe the whole month will be bad but in the end there is about 5 months or 6 months left until the halving so I feel super bullish about the prospect of bitcoin.

Even if it doesn't go up to the levels I believe it should in 2020, it will in 2021, or in 2022 but in the end it will reach there one day. There is no scenario in my mind where bitcoin goes down and stays down without ever breaking the 20 thousand dollar all time high, it will be broken, we just don't know when it will be broken so far and that's it, not that IF just the WHEN.

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December 03, 2019, 07:41:38 AM
 #15

When was Bitcoin actually "not" bullish? Everyone should zoom out to maximum. If you don't believe in the pattern, then sell and go away.
People do not care about the past. They only care about the price after they bought Bitcoin, which generally is around the high of each bull run.
This is right, when people buying bitcoin at a high-level point price and suddenly down, of course, they will say that they are losing and hold further time, hoping that they get profit from the time they invested bitcoin. Base on year chart price, we are still on a bullish trend since 2018 when bitcoin dropped to much. But if you look at the chart daily price you can really feel the sudden drop in the price. I hope the promising event will us, the next block halving.

Yeah it's really unfortunate to see this things continuously hitting up and for sure those people who bag holds are frustrated to see the market flows and hopefully we can see a bright side in the next block halving since maybe some other people thinks leaving and looking for that as there last hope to continue there's a good price stretch up will come unto that event on crypto ecosystem.

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December 03, 2019, 07:53:21 AM
 #16

Bitcoin needs a new reason for the next bull run. The run up to $12,000 was based on anticipation of Bakkt and the belief this would bring new money into bitcoin. It hasn't wworked out like that.

i'm not convinced bakkt is what drove the rallies earlier this year. i think it had more to do with market psychology. hype is only fruitful in the context of a bull market where investors are hungry for risk. bakkt was also hyped all through 2018 but we crashed nearly to $3k instead.

our brains have a tendency to demand an explanation for events like big market moves. the truth is that we have no idea why buyers accumulated or why holders refused to sell on the way to $14k. all we know for sure is that when buyers outnumber sellers, the price rises. anything else is just speculation. Smiley

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December 03, 2019, 07:54:18 AM
Last edit: December 03, 2019, 08:11:01 AM by Darooghe
 #17

I am really highly optimistic but not bullish, since no one controls the market, just a few investors who have invested billions in the market, hence can easily manipulate the price up or down with just few clicks of whales. therefore few dips literally mean nothing for this industry. it's here to stay and it's changing the world at much faster speed, well fast enough not to be appreciated by people who aren’t visionary and risk-takers.

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December 03, 2019, 12:42:32 PM
 #18

Bitcoin needs a new reason for the next bull run. The run up to $12,000 was based on anticipation of Bakkt and the belief this would bring new money into bitcoin. It hasn't wworked out like that.

i'm not convinced bakkt is what drove the rallies earlier this year. i think it had more to do with market psychology. hype is only fruitful in the context of a bull market where investors are hungry for risk. bakkt was also hyped all through 2018 but we crashed nearly to $3k instead.

our brains have a tendency to demand an explanation for events like big market moves. the truth is that we have no idea why buyers accumulated or why holders refused to sell on the way to $14k. all we know for sure is that when buyers outnumber sellers, the price rises. anything else is just speculation. Smiley
Overbought confirmed few months ago that's why we fall further to nearly $6,000 as the real reasonable price for bitcoin itself I personally believe is at around $7,000 exactly at the current position so I didn't even surprised to see all of these dramas.
I'm always bullish it's unquestionable  Grin .
Waiting patiently and do some trade while the market swinging, that's what I'm doing now and people might should try to go for it too without worrying which way bitcoin will go in the future, it's supposed to be up higher , that's the spirit of believers! Bitcoin is for the believer since day one , call me whatever it is speculator or something. I'm bullish all the way for no reason but looking for some another fortune just like what I have achieved back in 2014 to 2018 Grin .

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d3nz
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December 03, 2019, 01:49:36 PM
 #19

Bitcoin is still in bullish for a long term investment and we see a huge difference of value when you see the chart except the year 2017 when the major dump happens but still it is recovering now and i think it might go up more by this coming year 2020.

So we just need to accumulate while it lsst and cheap days will come to end.
barota
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December 03, 2019, 05:07:52 PM
 #20

i hope prices recover high level better then current soon ; if bitcoin rise above 9000 usd per btc we can say bullish trend start again ; bitcoin rose from last dump and this can be a signals that it is in bullish trend again

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