BTC rally of $9,000 ain’t enough?

[Shinpako09]

Even a price run to $9,000 will not be enough to break Bitcoin out of its current bearish pattern, according to a popular analyst. Despite a positive start to 2019, the leading digital currency has spent the second half of 2019 in a sustained downtrend.

After the first half of the year saw a rally that took prices to near $14,000, Bitcoin been setting a series of lower highs in recent months. This, according to widely accepted market analysis, is a defining characteristic of a bear market.

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Okay I just don’t know if this analyst is crazy or not?

I respect the fact that anyone can predict on what is going to happen with Bitcoin in the next hour, day, week or so.

Even that if it reaches $9,000 per BTC, it won’t be enough to “escape” from the bear market due to its bearish pattern. For me, either he could be right or wrong.

I just cannot say that I am going to agree with him or not, but anything can happen in a matter of time. There are analysts who claimed back then that Bitcoin could even go down further. But they’re proven wrong when $7.7k turned to almost $10k due to China’s pro-blockchain news before taking another nosedive.

I've read the article and seems the analyst has a good point tho. About the analyst claimed btc could go down but turned out the opposite way. I'm not surprised since the market is unpredictable and most of the time our expectations often turning the other side. One reason why I rarely believe on what I've read even if there's a back up on their claimed.

He ain't crazy, if you will think $9k isn't enough to trigger the hype and erased the doubt of anyone that we are getting out of bear market.

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[exstasie]

Even a price run to $9,000 will not be enough to break Bitcoin out of its current bearish pattern, according to a popular analyst. Despite a positive start to 2019, the leading digital currency has spent the second half of 2019 in a sustained downtrend.

The descending trend line from the $13,000s is in the $9K area now, so the theory checks out. We need to break above $9K with authority before getting too bullish.

[karanggatak]

I think it's quite difficult for bitcoin to reach $ 9,000 and I also think otherwise maybe until the end of this year bitcoin will continue to decline until the price of bitcoin becomes $ 6000. because in my opinion at the end of the year most people will choose to take a vacation and spend time with family. and rest from the world of cryptocurrency. and I think at the end of this year there is no news or something that can push the price of bitcoin to $ 9,000. bitcoin will remain at $ 7000 or drop to $ 6000.

[bitvalak]

What we need to know is that there are big players who can pump suddenly, anything can happen as long as it hasn't changed to 2020.
Not impossible, speculation happens every day hoping that there is enough volume to dump and pump. The end of the year in my opinion is a crucial time to conduct transactions because there will be a lot of turmoil.

[pooya87]

$9000 is just a number and it doesn't matter at all which number you choose. the only thing that could kick start the next rally is HOW price gets to that number. for example right now that we are at $7k price levels if price were to slowly creep to $9000+ over a couple of months then it won't start any kind of bull market or any FOMO. but bitcoin doesn't work like that, these rises specially when coming out of a undervalued price (ie reverse bubble) are happening fast and big. so if price goes from $7k to $9k in one day (which wouldn't be the first time) then easily kick starts the bull run and the FOMO begins that would bring the price up above $10k in the next day and by the end of the week market is in full on bull mode.

[bamboylee]

I think he is right, we need more than that to reverse this bear run and restart the bull trend. We reached 12K this year and that was not enough to have a sustained bull run. It is still nosediving after that. Slowly but surely going down.

[adaseb]

The analysis is correct because if you look at the weekly chart, even if we hit $9K, it would still be a lower high. We would need to break and close over $10300 to make a new Higher high and hopefully get out of this bear market.

Back in 2018 it was no different. The $6K support was basically followed by many failed newer highs and it was the hint that eventually out of the blue the $6000 would break which it did in a random day in November 2018.

Looking at 2019, we hit a new higher high when we broke the $4K area and this is what led us to $14K in a very short period. So nobody knows what will happen but its the general view most traders are looking at.

[Furious 7]

It is very difficult to determine the price of bitcoin at the end of this year, with there being $ 9,000 the market is still the opposite and the rally will never exist at the end of this year, I can only predict that in March bitcoin will start at a high level but that also cannot determine whether this resistance will really exist.
Halving in May there are still many polemics about the price of bitcoin and where the price is actually I can only state after halving occurs bitcoin returned to normal.

[buwaytress]

Don't know about you guys, but sounds like good news to me =p

Bitcoin run to 9k = good for me in Dec and January, will be able to sell well for a nice 10-15% unexpected bump. Managed to delay sales for Dec so have to make it in a couple of weeks to pay bills.

And then if price dips back down, I'll be earning at a lower point. Win-win. Anyone still accumulating will probably be relieved too.

[barabarian1]

yes you are right op everything can happen in the crypto market. I also cannot approve or reject the opinion that bitcoin can reach $ 9,000 but cannot bring bitcoin to the bull market. bitcoin prices are very volatile and it is very difficult to guess the price of bitcoin at the end of this year which is only lacking a few days. it could be that bitcoin rose suddenly to $ 9,000 or it also dropped to $ 6000. we as small traders can only wait and speculate.

[kro55]

There is no confirmation that bitcoin is going back to 9000$ rather chances are that bitcoin may decline further to $ 6000.00 or $ 5000.00. Recovery to $ 9000 will be a big oxygen for crypto investors. 9000$ will not be enough for those who have bought bitcoin in latest bull run, when bitcoin peaked at 12000$.  

[ecnalubma]

Very unpredictable market, honestly I will be happy to see BTC to reach 10k before the year ends but it seems that negative sentiments is very strong and its pulling down everything slowly shattering bullish dream citing another bearish Holiday for hodlers.

[xZork]

Let's see first if we can break the $9k barrier prior to the end of the year. The thing is that we have seen many times in the past that we thought we're already in the bullish/bearish pattern, however, the market moves in the opposite direction. Which only means  that the market price is really hard to predict, no matter what this so called experts are telling us.

Bitcoin is very difficult to break the 9k barrier by the end of 2019. There are only 14 days left until the end of 2019 but I do not see any signs for bitcoin to rise. In addition to the Christmas season is approaching, people will tend to sell bitcoins to collect fiat currency.
I think bitcoin will only increase to 9k by 2020, maybe by February 2020 bitcoin will reach $ 9k and by the end of 2020 bitcoin will cost $ 15k.

[watergold]

Very unpredictable market, honestly I will be happy to see BTC to reach 10k before the year ends but it seems that negative sentiments is very strong and its pulling down everything slowly shattering bullish dream citing another bearish Holiday for hodlers.

Still far from being hope to reach $ 10000 bearish will continue to continue until the beginning of the year and on this holiday as a BTC holder is a nightmare because btc that has been much awaited turned out not to appear in the good direction.
Perhaps the highest level this month will only be stuck at $ 7,500 and it can still go down again.

[Dart18]

We are seeing a lot of greed with those new analysts by now.
It is not really about the future of crypto currencies anymore but more on making profits.

Having that large of amount in just one bitcoin is already something else.
If you are looking for more then I bet you did buy at the highest price last 2017. This might be also why they are talking shits like that. 

[Hamphser]

Very unpredictable market, honestly I will be happy to see BTC to reach 10k before the year ends but it seems that negative sentiments is very strong and its pulling down everything slowly shattering bullish dream citing another bearish Holiday for hodlers.

Still far from being hope to reach $ 10000 bearish will continue to continue until the beginning of the year and on this holiday as a BTC holder is a nightmare because btc that has been much awaited turned out not to appear in the good direction.
Perhaps the highest level this month will only be stuck at $ 7,500 and it can still go down again.

There's no chance that bitcoin would hit $10,000 this month if you look at the price movements for a week. Prices are moving from $7,000 to $7,500 so if there's a drop of price or a breaking of the resistance or support level then we will see a new price but it's far from the $10,000 that you are expecting.

[uray]

so if price goes from $7k to $9k in one day (which wouldn't be the first time) then easily kick starts the bull run and the FOMO begins that would bring the price up above $10k in the next day and by the end of the week market is in full on bull mode.

Are we expecting something like this in the near future, i literally do not see a bubble in the next few months and it is possible and we have seen in the past that the market recovering in a day but then we will see the market going down with the same intensity and that is the reason i am not a fan of instant recovery. Major resistance are around $10k and then there will be at $14k and if it breaks that then we might even tough the old all time high valuation.

[justdimin]

What do you mean by enough is the real question. If you mean that if we go to 9 thousand dollars we still have a chance of dropping once again, you are definitely right.

Bitcoin once hit 20 thousand dollars and went as low as 3 thousand dollars, so sorry but whatever the price of bitcoin becomes there is a chance of dropping significantly, we can't stop bitcoin to drop or change since in the end we seriously don't have any control over it. That is the beauty of bitcoin tho, nobody can control it. So in the end, $9k is not enough to make sure bearish stops, $20k is not enough, even a million dollars is not enough, in the end there is always a chance of bitcoin dropping 50% in value at any given second even while I am typing this down. Don't look at the pessimistic part of it, look at the fact that 50% increase is also possible.

[Mahanton]

I cant see any possible catalyst or causes for btc price to rose up on this last days of this year on reaching it out on 9k.
Good to see if we do able to rise up like that even on 1st quarter of 2020.I dont believe too much on to those so called
popular analyst or whatsoever yet anyone can make such prediction like that.We cant still say yet that if we do hit 9k
price which does mean we are already out on bearish market.It might hold up or rather have a breakout all the way.

[Rasa nanas]

it is unlikely that the price of bitcoin will penetrate $ 9k before the end of the year, so that means this year bitcoin cannot get out of the bear market. but in my opinion if bitcoin has been able to reach half of the ATH it can be said that bitcoin has come out of the bear market and is walking towards a higher peak. hmm