Are we heading in a Sucker Rally ?

[fiulpro]

According to analysts we are right now a part of a sukcer rally.

What is a Sucker Rally with respect to Bitcoins ?
"A sucker rally describes a price increase which quickly reverses course to the downside."

https://www.investopedia.com/terms/s/sucker-rally.asp

Why is Bitcoins suspected of driving the investors In a Sucker Rally ?
*The price is stable even though the market is being funded
*Even though money is coming in the market , the amount is still not working for Bitcoins 2.3 trillion , right after  6 trillion liquidity fund , Bitcoins have not shown a positive dip

According to the Analysts the Price was increasing 8%in a week approximately , but the Volume of Bitcoins was decreasing . . .

Therefore it has been believed that it is just a Sucker Rally.

https://cointelegraph.com/news/bitcoin-price-ignores-23t-fed-cash-as-pundit-warns-of-sucker-rally

What is your take on this ?
I do think instead of a Sucker Rally it is the economic situation affecting Bitcoins and the decrease in volume is directly related to people being scared to loose money when there isn't any during the Pandemic. Instead of a Sucker Rally maybe we are in a constant state where the buying and selling percentage is close to being equal.

Also the money that the Author talks about in the Article is indeed a huge amount but considering the fact that in the US alone the Death margin is at all time high and people are being infected + Reinfected by the virus , It is not skeptical that all the money might be used in the healthcare + decreasing the prices of common commodities .

Should we worry about it ?

But I do think the whole concept of Sucker Rally might be contradictory , since investors are coming in meaning the price will rise , even though it is not 8% , even at this time if it stays stable it will be a big help for the investors. 

How do we plan on explaining the decrease in Volume as pointed out in the article?

[thebutton]

I do think instead of a Sucker Rally it is the economic situation affecting Bitcoins and the decrease in volume is directly related to people being scared to loose money when there isn't any during the Pandemic. Instead of a Sucker Rally maybe we are in a constant state where the buying and selling percentage is close to being equal.

I think people aren't scared to lose their money and in fact during a Pandemic, people would look for a platform or ways to secure the money they have by buying gold or BTC for example.

Also the money that the Author talks about in the Article is indeed a huge amount but considering the fact that in the US alone the Death margin is at all time high and people are being infected + Reinfected by the virus , It is not skeptical that all the money might be used in the healthcare + decreasing the prices of common commodities.

This made much more sense. In my country, we are under quarantine as well as some other parts of the world which means that most of the people's income was diminished or simply none. Most people nowadays just releasing their money buying stuff that they need with their income not keeping with their expenditures.

[pooya87]

we just had the downtrend, in fact it was a gigantic drop and what we have right now is just the correction of that massive drop. it is not even a rally to be sucker or not! for the time being we have to continue rising to get back to normal then start having a rally. by that time we can start discussing whether THAT rally could continue upwards or not.

[amishmanish]

This sucker rally logic is assuming that individuals and businesses who got the liquidity should be spending it to buy BTC. And if they are not, then it means it will go down. That is some pretty circular logic. People/ businesses who received the magic money would probably be hoarding and waiting it out for the worst to pass. As time passes, more and more people would realize the stupidity of printing so much money in one go and the kind of economic structure that needs/ justifies this.

That basic proposition of sound money will take some time for people to realize. It is a currency that is being used the world over and is being built upon continuously and unlike the trillions they hold, it cannot be minted without any reasonable restrictions. When this settles in, a lot of people who can think for themselves will realize that bitcoin is the perfect hedge against vested interest policies of their federal reserve.

Anybody who doubts this should take a test. If you know any investment banker friends, ask them if they know about bitcoin or not and if they have bought any. The smartest people will say yes.

[mk4]

Sometimes bitcoin's price goes up, sometimes it goes down. Who cares what these "analysts" say? Most of them just wants the attention for their own benefit, and we're just casually handing it to them on a silver platter.

[davis196]

The price is stable even though the market is being funded
*Even though money is coming in the market , the amount is still not working for Bitcoins 2.3 trillion , right after  6 trillion liquidity fund , Bitcoins have not shown a positive dip

Nobody said and there's no guarantee that the stimulus plan will pump the bitcoin price.People should stop with this BS.When you say "money is coming in the market" can you backup your claim with some real evidence?There's no such evidence about billions of fresh USD invested into the cryptocurrency markets.
If this really is a "sucker rally" then I guess that sucker rallies happen every 2-3 months in the BTC market.
There's nothing to worry about. 

[michellee]

I feel better to watch what is going on in the market because that can give more clue about the time to enter the market. I used their analysis to find my own analysis, and sometimes I can get more information which they don't tell the public because they will use that information for themselves. You can read all about the analysis from them, but you should not use their analysis without making your own analysis. It is dangerous because you don't know if they tell the truth or just to bluff and make people panic.

[Debonaire217]

I'm quite inactive for a week now because of the sudden internet interruption I had. Though, looking at the bitcoin graph now, it shows a good manifestation of volatility. Honestly, this is the first time I've read about the term Sucker Rally, but it is still unclear to me, what might be the reason of the price fluctuation this week. We had experienced a huge decline about a month ago, and we should have a good and healthy market now. My speculation was still directly focused on the reason that the current situation about lockdown is still the subject why this is happening. People might be afraid, but we shouldn't take it too much as there are more people who know how the market works and we are taking advantage of the market when that happens buy accumulating more bitcoins. That means our demand will push the price to avoid further market decline.

[anoufal]

I don't think that we are waiting for sucker rally, but the price will definitely fall.

[pakhitheboss]

The price will definitely go below 6.8k level but it will also revert back and should reach 8k level by the end of this month. As per my understanding it is a correction that we will se as there was a sudden spike in the price of Bitcoin few days back. This is normal in every market and there is no correlation to what you are trying to explain in this post.

[fiulpro]

I'm quite inactive for a week now because of the sudden internet interruption I had. Though, looking at the bitcoin graph now, it shows a good manifestation of volatility. Honestly, this is the first time I've read about the term Sucker Rally, but it is still unclear to me, what might be the reason of the price fluctuation this week. We had experienced a huge decline about a month ago, and we should have a good and healthy market now. My speculation was still directly focused on the reason that the current situation about lockdown is still the subject why this is happening. People might be afraid, but we shouldn't take it too much as there are more people who know how the market works and we are taking advantage of the market when that happens buy accumulating more bitcoins. That means our demand will push the price to avoid further market decline.

Indeed that is why I think the whole concept of Sucker Rally is something that Bitcoins can tackle due to demand and supply rule because of its highly volatile nature people tends to buy Bitcoins at this downside therefore people should actually stop influencing the market by posting videos online on YouTube and posting stuff on their Twitter so as how it is going to go down real fast.

Additionally I hope your internet stays fine , we all need it now more than ever.

[Kemarit]

I wouldn't categorically call this is a sucker rally, if it is then every rally and subsequent downside could be called as a sucker rally. We have seen this countless times and I would assume that crypto traders or investors are getting used to it by now. Everything still boils down to supply and demand, and people taking profits at a certain point, unless we are in a bull-run causing a big bubble like 2017. Nothing is specially seeing the price rebounding a huge drop then followed by profit taking.

[kryptqnick]

According to analysts we are right now a part of a sukcer rally.

What is a Sucker Rally with respect to Bitcoins ?
"A sucker rally describes a price increase which quickly reverses course to the downside."

https://www.investopedia.com/terms/s/sucker-rally.asp

Why is Bitcoins suspected of driving the investors In a Sucker Rally ?
*The price is stable even though the market is being funded
*Even though money is coming in the market , the amount is still not working for Bitcoins 2.3 trillion , right after  6 trillion liquidity fund , Bitcoins have not shown a positive dip

According to the Analysts the Price was increasing 8%in a week approximately , but the Volume of Bitcoins was decreasing . . .

Therefore it has been believed that it is just a Sucker Rally.

https://cointelegraph.com/news/bitcoin-price-ignores-23t-fed-cash-as-pundit-warns-of-sucker-rally

What is your take on this ?
I do think instead of a Sucker Rally it is the economic situation affecting Bitcoins and the decrease in volume is directly related to people being scared to loose money when there isn't any during the Pandemic. Instead of a Sucker Rally maybe we are in a constant state where the buying and selling percentage is close to being equal.

Also the money that the Author talks about in the Article is indeed a huge amount but considering the fact that in the US alone the Death margin is at all time high and people are being infected + Reinfected by the virus , It is not skeptical that all the money might be used in the healthcare + decreasing the prices of common commodities .

Should we worry about it ?

But I do think the whole concept of Sucker Rally might be contradictory , since investors are coming in meaning the price will rise , even though it is not 8% , even at this time if it stays stable it will be a big help for the investors. 

How do we plan on explaining the decrease in Volume as pointed out in the article?

I am not sure 'Sucker rally' is a real thing. I mean, I get what's called this way, but is it justified to signify it at a specific phenomenon, and does it apply to Bitcoin? Setting that aside,  Bitcoin is not in the bear market, there is not enough evidence that lots of money are being poured into it, Bitcoin is not exactly rallying, and this kind of behavior between $6k something and $7k something is quite typical of Bitcoin. I think what's happening with BTC is that it's quite stable around $7k (give or take), but it's not ready to to break another barrier because the support is not strong enough.

[pixie85]

What you are calling a rally to me is simply a recovery. A correction after a significant dump that took place last month.

Are you really saying that when an asset falls 20% and then goes back up by 15% it's a rally? A rally would be if we wendt back to 10 thousand and broke it reaching at something higher than 10,5. This would be a show of strenght and a real rally. We did not eben reach the point from which Bitcoin started to descent so it's not even a proper recovery at this point until we break above 9000. 

[Yatsan]

we just had the downtrend, in fact it was a gigantic drop and what we have right now is just the correction of that massive drop. it is not even a rally to be sucker or not! for the time being we have to continue rising to get back to normal then start having a rally. by that time we can start discussing whether THAT rally could continue upwards or not.

There were not even a price rally, all we have seen is a pure decline of the market most probably because of the pandemic disease that we are facing right now. Getting back to normal seems not that quite foreseeable as of now as the factors affecting the price is just too big to handle. If you see the market turning green that is not a rally, that is just recovering from what it have lost a few months back. The only good thing I see now is the bitcoin is up 30% over a course of year now, isn't it good?

[gentlemand]

Unless an 'analyst' can tell me what's going to happen with this pandemic then I may as well consult my turds as they'll have just as valid a guess as them.

Fuck knows why anyone would even mention TA at a time like this. The world is waiting to see whether it's going to bounce back or fly down the toilet. That is what'll decide the future of everything including Bitcoin.

[Mahanton]

Sometimes bitcoin's price goes up, sometimes it goes down. Who cares what these "analysts" say? Most of them just wants the attention for their own benefit, and we're just casually handing it to them on a silver platter.

We cant get rid of those so-called experts into this market which they came from traditional markets and just giving out their sentiments into this place which is actually non-correlated
yet we know that TA's doesnt really have a high precision into this very unpredictable market.They can say all they want but we know that btc price can fucked you up on
least expected.

[samcrypto]

Those are just prediction on a current situation but they can’t tell what’s really happening on the market. We can all proclaim as an analysts but its hard to have a follower because people don’t usually listen to that because they know its just a speculation. I see a normal trend when bitcoin ups and downs, the situation right now might be different but its already part of the trend, if we see a correction then buy again.

[Oasisman]

What's with that another market movements term? That's very similar to a dead cat bounce. These analyst can fire anything they want to say that really looks convincing to the investors. Nevertheless, they are just making things up based on how well or worst the market was performing.
This pandemic is putting a hold on a potential bull market caused by the block halving hype. So, that's where we can say that the buying and selling is close to being equal.

[Quidat]

What's with that another market movements term? That's very similar to a dead cat bounce. These analyst can fire anything they want to say that really looks convincing to the investors. Nevertheless, they are just making things up based on how well or worst the market was performing.
This pandemic is putting a hold on a potential bull market caused by the block halving hype. So, that's where we can say that the buying and selling is close to being equal.

"Dead cat bounce" term is already been known in traditional markets like forex and stocks. Same goes with Sucker rally https://www.investopedia.com/terms/s/sucker-rally.asp

This is why i dont really care much into those so called analyst making out their predictions yet no one can precisely predict on where this market going. Even a simple Support
and resistance line are enough for me when making entry decisions.

Market can shift from time to time and theres no significant solid signals that we would be heading there on a specific time.Its all random.