Bitcoin recovering

[Peanutswar]

On the unexpected outbreak we recently experience it has a huge impact to the world stock market and especially to the bitcoin the market price of the bitcoin from the highest peak of 8k dollars in just a week it drops for over 3.9k dollars and that was so huge for the changes, but now some of the analysis this it just depends on the people if they keep supporting the use of bitcoin to make it back to normal also when the halving is coming most of the time the price of the coin goes down to it's the lowest point and recovering for a while and made a lot of profit come back still the problem is today it is continuously declined the use and increase of the price and the bearish market will still last long if we do not make any changes too.



Source : https://www.coindesk.com/the-puell-multiple-is-turning-bullish-on-bitcoin%3famp=1

[pixie85]

Still the Bitcoin market is not touch the low becasue as we see the market this time it is so much difficult to understand it and may be in future market is touch the low at 3k or 2700$ this time becasue still all the world in crisis and thats why the market are crash and going down regularly.

It has touched the low for 2020. It's actually the lowest since Spring of 2019. Isn't that a low? To me it is. There's no rule that it has to retest the 3k low. If that's the low you're looking for then why not choose a bigger timeframe and wait for a 1000 dollar low or maybe the low from 2016 where we were at 300 dollars?

If we stay above 4000 dollars it will be a higher low from where we were a year ago which is great. If we go below 3000 and stay there it's going to be very bad for mining and the whole industry especially if it happens after the halving. I think that we'll go up from here.

[btc_angela]

Of course it will depend on people to keep the ecosystem running. But as far as recovering, we really can't say what's going to happen next month as this will be critical for the markets around the globe. Do we have the initial vaccine that time? I'm sure everyone will react positively if World Health Organisations will report that a vaccine has discovered, otherwise we might see the price going to $3k-$4k prior to halving.

[chaser15]

Saying the price recovers because of the price swing is early to tell.

Let's not make a good expectation for this slow price increase. At least we see the possible bottom.

We can't say what will happen next as the world is still dealing with the pandemic virus. Bitcoin shouldn't totally be affected in terms of crypto market-related activity but since the world economy heavily got affected too and people really need some money to support their daily living, bitcoin was being part of its domino effect.

[hirngespenst]

Bitcoin is not recovering enough, it's still showing the volatile nature every day! Though from 3900 to 6700$ was a good comeback, but the price chart says bitcoin yet to touch the support level to be bullish! I think Bitcoin needs to go under 3500$ before the halving, so, we can see a real bull run after 6 months of halving, otherwise, I am not sure bitcoin can overcome its previous bull run!

[Yamifoud]

The market continuously drops from $9k to $4k plus, then it bounces back $6k up to this time. I think that the market is recovering, yet it was just very slow because many people are still selling it at low by now. The resistance and market support isn't that strong to push the market instantly to the high. I believe we can see a fully recovered market if this pandemic effect of COVID-19 will be over but think how long. And probably we have to wait for months or even a year.

[Botnake]

Well,  from the price of $4600, we can say it's recovering, however, comparing the starting price against the current price, there is not recovery yet.

At January 1 this year, the starting price was at $7100, while the current price now is $5800, still below the starting price, therefore bitcoin needs to at least rise to $7500 so we can say it's really recovering.

Today bitcoin is down 5%, that' significant, hopefully it will stop and bounce back.

https://coinmarketcap.com/currencies/bitcoin/

[jossiel]

If it isn't just because of the Covid-19, bitcoin won't drop this much. But this is one of the reasons why many believe and happily holding because of its attribute to quickly recover.

Saying the price recovers because of the price swing is early to tell.

It has actually recovered from the bottom pit of $3900 and heading towards $7000. We can say confidently say that it has recovered that much despite the huge drop that it made still there's a pull back we've seen.

[KrisAlex18]

I really shocked when the bitcoin reaches 3,900$ because based on what I have read on some articles that it would only reach to lowest price of 6000$ but in unexpected things happen, where virus or this COVID-18 attacks the whole world bitcoin is really affected by it because a lot of holders, investors, players, etc. pull out their money and converted it into fiat currency to purchase things they need for the virus.

I hope that when bitcoin halving many people would still support the bitcoin, so it would still recover from being dumped, but I think they will because bitcoin is really a big help for them especially for there financial purposes.

[ethereumhunter]

I really shocked when the bitcoin reaches 3,900$ because based on what I have read on some articles that it would only reach to lowest price of 6000$ but in unexpected things happen, where virus or this COVID-18 attacks the whole world bitcoin is really affected by it because a lot of holders, investors, players, etc. pull out their money and converted it into fiat currency to purchase things they need for the virus.

I hope that when bitcoin halving many people would still support the bitcoin, so it would still recover from being dumped, but I think they will because bitcoin is really a big help for them especially for there financial purposes.

No one knows the impact of the virus, but that is happening now. We cannot do anything related to the market. But we still have a hope to see a big jump in the future as we are at the lowest price, and there will be a time for bitcoin to increase fast soon. COVID-19 already impacted all countries, and many people are suffering because of that virus. And that news has given the effect to bitcoin price too, but we don't know how big the impact on bitcoin price. We hope that the virus can be controlled. So people can still support bitcoin, and who knows, after this crisis, people will see the advantages of bitcoin that they can use while they still at home for recovery.

[Oasisman]

Price recovery won't be visible until the panic in the market
due to corona scare subsides. Though the pandemic may only have a little effect in crypto space, but it is destroying the global stock market.
As we can see, the price has stabilized at certain range of above $5,500 to $6,000, it is not because there are still a lot of people who took advantage of the price slump and stacked more Bitcoin instead of panicking, which is the right thing to do.

[Reid]

Be aware of what is happening in the world.
That is your clue right there.
Somehow the bitcoin price could react into it. Not entirely though. Just some part of it.

It had already been a crazy roller coaster ride with the price of bitcoin. Some financial analysts would not see this as normal kind of investment.
Again, buy it at your own risk.
But it is true, it will always depend on how much will support it.

[GreatArkansas]

It had already been a crazy roller coaster ride with the price of bitcoin. Some financial analysts would not see this as normal kind of investment.
Again, buy it at your own risk.
But it is true, it will always depend on how much will support it.

I think this recent dump of almost 50% on Bitcoin is likely become normal as the time goes by. Compare in some stock markets where you will see a big impact on it, but if you are in cryptocurrency and able to feel or experience some drops in stock markets or other markets, it's kinda much not so worry feeling.

[mahilchii]

Bitcoin had a rollercoaster week just a temporary pump in a day cannot be considered as it is recovering, the global economy has already destroyed by the corona scare and I appreciate BTC is managing this tough situation, if the corona wouldn't have happen then the price would have soar the market. halving is my big hope let's wait and see how it reacts on that time.

[Sterbens]

Bitcoin is not recovering enough, it's still showing the volatile nature every day! Though from 3900 to 6700$ was a good comeback, but the price chart says bitcoin yet to touch the support level to be bullish! I think Bitcoin needs to go under 3500$ before the halving, so, we can see a real bull run after 6 months of halving, otherwise, I am not sure bitcoin can overcome its previous bull run!

Bitcoin will remain at the price of $ 5k maybe it's the right time to be in the zone now because with the global pandemic so the price of bitcoin is becoming heavy fluctuations because it changes every time no one knows it will be a bullrun coming along it certainly is more likely halving will occur on demand will slightly increase before halving occurs.

[Dart18]

But, when we are talking about bitcoin then it is just normal.
It could go crazier like last 2017 to 2018 when it goes from 20k then back to 4k I think.

Now we are just 3k lesser than what it looked like the bottom of bitcoin which is 9k last month.
It will be easier to say that this is the right price to buy now or just regret it afterwards.

[The Cryptovator]

I can't call it recover exactly on current situation. Because bitcoin showing much volatility at the moment. I have a different thoughts about so called recover, during world panic some rich buyer just trying to accumulate some bitcoin and that time we experience a bump and its resetting again. Its true that bitcoin is trying to stay above $6K zone but not sure how long it could hold. Because if global economy doesn't recover then I don't think bitcoin would  recover itself. Perhaps we might see little pump during halving but less than from our expectation.

[buwaytress]

@reid Or perhaps be NOT aware of what's happening in the world. If anything, it was all this awareness of what was going on, combining with all the misled belief that Bitcoin would do well if the rest of the world went to hell, that led to all this panic selling. Thinking long term for me is still the right way to do it. And long term, the existing system of money and finance needs a reboot. Bitcoin is that reboot. Just not everyone's caught on yet.

[kentrolla]

BTC is going through some tough days well I cant say it is recovering but it is okay when compared to last months performance, BTC is steadily going down for the past month. Most of them believed crypto price is correlated with stock market price but now it has proved the guess are wrong, Not only BTC the whole crypto market is down at the moment and I certainly believe that COVID-19 could be a real issue for this crap. Hopes are healthier and let's believe things will turn around and BTC will come back with great enthusiasm.

[ScamViruS]

On the unexpected outbreak we recently experience it has a huge impact to the world stock market and especially to the bitcoin the market price of the bitcoin from the highest peak of 8k dollars in just a week it drops for over 3.9k dollars and that was so huge for the changes, but now some of the analysis this it just depends on the people if they keep supporting the use of bitcoin to make it back to normal also when the halving is coming most of the time the price of the coin goes down to it's the lowest point and recovering for a while and made a lot of profit come back still the problem is today it is continuously declined the use and increase of the price and the bearish market will still last long if we do not make any changes too.



Source : https://www.coindesk.com/the-puell-multiple-is-turning-bullish-on-bitcoin%3famp=1

Yes. After the last panic sell, Bitcoin tried to recover very quickly. Where Traditional Market is going down daily, Bitcoin is going uptrend. But Bitcoin is still below $7000. Bitcoin needs to cross this $7000 mark, so there is a possibility of a better upside.