Bitcoin recovering

[ChiNgadOr]

It is great to have a nice opium dealer and dream with that 50k BTC for the halving blablabla.. for the rest of you that live in planet earth, you should turn on TV or surf the internet a while to find out we have the biggest recession ever seen. There won't be any vaccine anytime soon for Coronavirus, and the scenario can only go worse. All markets will dump and crypto much more. There "digital gold" and safe heaven are just uthopia. Don't let BTC maximalists shilling BTC influence you.. People won't hedge their wealth in crypto, everyone will cash out to be able to purchase goods in the upcoming future when the crisis kicks hard.

Yeah, you can hold... I will just rebuy many fold times the amount of BTC I got now. think this is bullshit? think twice. this was exactly what people though when BTC was traded at 20K 3 years ago, and it reached 3.4k again.. mark my words. Soon we will be able to purchase at these prices again..

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[Wysi]

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.

I got your point but the current situation might be favorable for Bitcoin to surpass $7000 as it has started uptrend but it might go back under $5000 again due to lesser transactions as this novel corona has temporarily paused earth. We should be thankful for the force behind the recent uptrend and I don't think we can expect much under these circumstances.

[snipie]

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.

Volatility, big whales cashing, covid-19 panic... We can add more theories but getting $3k is not reasonable for me and it is very low and risky for many traders especially who bought over $4-5k.
Imo $5-6k is a logical bitcoin price for consolidation before getting back to +$10k somewhere near the halving

[Oasisman]

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.

Volatility, big whales cashing, covid-19 panic... We can add more theories but getting $3k is not reasonable for me and it is very low and risky for many traders especially who bought over $4-5k.
Imo $5-6k is a logical bitcoin price for consolidation before getting back to +$10k somewhere near the halving

$3,000 level might not be reasonable, but definitely possible. If Bitcoin block halving happens to be not happening this year, the price could've been worse than what we are seeing today.
A lot of people are still very optimistic about the effect of halving to the market, and a lot of people are still buying at this current figure, the reason why Bitcoin didn't fall and stay behind at the $4,000 level.

[criza]

The pandemic ncov-19 really affected the standing of stock markets including Bitcoin. But, these past few days we could see the gradual increase in the price of the coin, from a value ranging from $3,500+ to its current price at $5,600+, if these would continue we might conclude that the market is already recovering from the effects of the virus.

These coming months would be great for Bitcoin because, as the countries begins to adopt in the pandemic, sooner we might get rid of the disease and impending demand would come up. Also as the coming halving event comes closer, this would be a great turning point for the standing of Bitcoin.

[pooya87]

$3,000 level might not be reasonable, but definitely possible. If Bitcoin block halving happens to be not happening this year, the price could've been worse than what we are seeing today.

i disagree. mainly because halving effects that you are talking about are only hype-based and that only lasts a very short time. which is mostly 1 or 2 months before the halving not all year long. but also because we have already had a nearly 50% drop, it doesn't get any worse than that! if the halving hype was in effect the price should have fallen about 20% tops. any more drop than this is extremely hard and requires a lot of manipulation.

[posi]

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.

Volatility, big whales cashing, covid-19 panic... We can add more theories but getting $3k is not reasonable for me and it is very low and risky for many traders especially who bought over $4-5k.
Imo $5-6k is a logical bitcoin price for consolidation before getting back to +$10k somewhere near the halving

If the COVID-19 panic continue while no vaccination is detected there's totally the chance of bitcoin market to downtrend to the $3000 even during halving because more business will be close including some other activities and some  crypto investors/traders will have no choice than to sell some of their holding.

[bassbity]

If the COVID-19 panic continue while no vaccination is detected there's totally the chance of bitcoin market to downtrend to the $3000 even during halving because more business will be close including some other activities and some  crypto investors/traders will have no choice than to sell some of their holding.

There is still another month to find a vaccine to treat Covid-19 because halving will occur in May I think there is still time for scientists to find it.
I do not expect bitcoin will fall again to the bottom let alone reach $ 3000. Let's see what will happen even though there is a lockdown happening in various countries, but they are still confident about bitcoin that will be able to fly high to go up.

[Botnake]

If the COVID-19 panic continue while no vaccination is detected there's totally the chance of bitcoin market to downtrend to the $3000 even during halving because more business will be close including some other activities and some  crypto investors/traders will have no choice than to sell some of their holding.

There is still another month to find a vaccine to treat Covid-19 because halving will occur in May I think there is still time for scientists to find it.
I do not expect bitcoin will fall again to the bottom let alone reach $ 3000. Let's see what will happen even though there is a lockdown happening in various countries, but they are still confident about bitcoin that will be able to fly high to go up.

Will see, but its necessary that we will remain optimistic, and for me, we don't really need to see a bullish run before the halving, we can achieve that after if it would really happen, this vaccine for now is what we really need, and the market will resume as usual.

[snipie]

If the COVID-19 panic continue while no vaccination is detected there's totally the chance of bitcoin market to downtrend to the $3000 even during halving because more business will be close including some other activities and some  crypto investors/traders will have no choice than to sell some of their holding.

There is still another month to find a vaccine to treat Covid-19 because halving will occur in May I think there is still time for scientists to find it.
I do not expect bitcoin will fall again to the bottom let alone reach $ 3000. Let's see what will happen even though there is a lockdown happening in various countries, but they are still confident about bitcoin that will be able to fly high to go up.

Just forget about any vaccine in the next three - six months. Bitcoin halving will occur in May so before even the stabilisation of the pandemic around the globe. Finding an efficient combination of drugs is the best thing that could happen in the short range which several ones are already being tested...

[Reid]

@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.

Oh, that's good. I didn't though about that.
Maybe I became focus of current events because of threads that are being created here in the forum which connects everything with bitcoin.
Sorry about that. I have been dragged by them or drugged. 

I love what you said at the last part. "Bitcoin is that reboot." Wow! That is deep if deep thoughts will be given.
Can we really see a world with bitcoin as a normal payment? I would really love to see that while my sight is still working well.

[TheGreatPython]

$3,000 level might not be reasonable, but definitely possible. If Bitcoin block halving happens to be not happening this year, the price could've been worse than what we are seeing today.

i disagree. mainly because halving effects that you are talking about are only hype-based and that only lasts a very short time. which is mostly 1 or 2 months before the halving not all year long. but also because we have already had a nearly 50% drop, it doesn't get any worse than that! if the halving hype was in effect the price should have fallen about 20% tops. any more drop than this is extremely hard and requires a lot of manipulation.

The first time prices dropped down I was really assuming it was manipulation because the halving was getting closer so maybe the people who dropped it took advantage of the economical situation when people didn't had the money to buy bitcoin and increase it so they started selling a lot to drop the price and that way they could buy smaller and smaller and slowly.

What people do not realize that, if one person can sell 100 million dollars worth of bitcoin all at once and drop the price, they could continue to pay 5 million dollars a day without increasing the price too much, so they end up having a lot more bitcoins but same amount of dollar investments usually.

[sujonali1819]

Yes, it is recovering. But we can not say it already recovered / the matter of time to recover. Because we can see another dump any time. Market is now out of control actually. If suddenly the price dump 200-300$ in short period then another panic might be started again.

[fabiorem]

$6.5k right now. This is half of the 0.618 level in the fibo sequence. No, this is not a recovery, its just another bull trap. And its moving slow, as always did during this long bear market.

Remember the fibo sequence was extensively used during the bull market, and now is ignored. Why? Because anyone with half a brain can use it to check whether bitcoin is recovering or not, and at the moment, its not.

[Smitty Werben Man Jensen]

Yes, it is recovering. But we can not say it already recovered / the matter of time to recover. Because we can see another dump any time. Market is now out of control actually. If suddenly the price dump 200-300$ in short period then another panic might be started again.

panic has begun, today Bitcoin dumps $ 100 again, and survives at $ 5900, I hope $ 5900 is a strong support that must be met, otherwise the panic will make the price of bitcoin fall deeper, hopefully all is well, keep healthy

[stadus]

Yes, it is recovering. But we can not say it already recovered / the matter of time to recover. Because we can see another dump any time. Market is now out of control actually. If suddenly the price dump 200-300$ in short period then another panic might be started again.

panic has begun, today Bitcoin dumps $ 100 again, and survives at $ 5900, I hope $ 5900 is a strong support that must be met, otherwise the panic will make the price of bitcoin fall deeper, hopefully all is well, keep healthy

I don't call it as panic, it's juts a minor dump and bitcoin is not back at $6100, with that price, I am comfortable that it we are in a strong level of support.
Bitcoin is likely to pump than to dump with the way it's moving in the past few days and i like to believe the market will be bullish next month.

[Free1bitco.in]

I don't call it as panic, it's juts a minor dump and bitcoin is not back at $6100, with that price, I am comfortable that it we are in a strong level of support.
Bitcoin is likely to pump than to dump with the way it's moving in the past few days and i like to believe the market will be bullish next month.

in addition, after the decline, the price of bitcoin has always recovered. what we need to realize is that at the moment the price of bitcoin is still quite stable at $ 6k, and has not yet shown a lower or higher price. I'm guessing that prices will go up and down only around $ 6k. besides, after the decline, it looks like the price of bitcoin will again be above the $ 6.5k price

[Questat]

I don't call it as panic, it's juts a minor dump and bitcoin is not back at $6100, with that price, I am comfortable that it we are in a strong level of support.
Bitcoin is likely to pump than to dump with the way it's moving in the past few days and i like to believe the market will be bullish next month.

in addition, after the decline, the price of bitcoin has always recovered. what we need to realize is that at the moment the price of bitcoin is still quite stable at $ 6k, and has not yet shown a lower or higher price. I'm guessing that prices will go up and down only around $ 6k. besides, after the decline, it looks like the price of bitcoin will again be above the $ 6.5k price

Bitcoin has recovered but it has not fully recovered from where it has dump. Prior to the dump that make bitcoin reached $4100, it was trading at $7700, so compared $7700 to the current price, we still need some uptrend to get back on the original price.

[mahilchii]

I will not consider it as recovering until it goes beyond 8k, these temporary pumps cannot be calculated as recovery. Right now the market is very volatile, the next two 2weeks will be the decider.

As halving is expected to be in May the price may similarly increase but still anything can happen because the current situation looks like it will be very hard to see a pump due to corona scare.

[milewilda]

I don't call it as panic, it's juts a minor dump and bitcoin is not back at $6100, with that price, I am comfortable that it we are in a strong level of support.
Bitcoin is likely to pump than to dump with the way it's moving in the past few days and i like to believe the market will be bullish next month.

in addition, after the decline, the price of bitcoin has always recovered. what we need to realize is that at the moment the price of bitcoin is still quite stable at $ 6k, and has not yet shown a lower or higher price. I'm guessing that prices will go up and down only around $ 6k. besides, after the decline, it looks like the price of bitcoin will again be above the $ 6.5k price

Bitcoin has recovered but it has not fully recovered from where it has dump. Prior to the dump that make bitcoin reached $4100, it was trading at $7700, so compared $7700 to the current price, we still need some uptrend to get back on the original price.

As usual it would really a bumpy ride if we do base up on the peak price that we had on previous months.Now btc is price on 6800+ and still tanking into these levels.
We cant say that this one isnt a recovery since we have seen some progress on its price if we do compared on lowest low for this year and at least for those who bought
on the dip did already make some profits. As a trader- no matter what kind of situation the market has, you can utilize those movements to make up some money.