Anyone else see a big bitcoin upwards movement coming very soon?

[thecodebear]

Bitcoin has now been roughly in the 9000s for a month and a half now, establishing where it had been before the pandemic panic crash. I see news of miner selling being down, Grayscale buying up everything that is being mined since the halving (and since miner selling is down that means that one fund alone is buying up well more than all the newly minted bitcoin hitting the market these days, and bitcoin long term holding rising as well. There's also a ton of money the past few months just sitting in stable coins - likely people holding back waiting to see where the market will go.

Seems to me the only thing holding bitcoin's price back right now is short term bearish or more likely uncertain sentiment. Five digits has once again become a psychological level. As soon as traders stop taking profit every time bitcoin goes to high 9000's or low 10's I think we're gonna see Bitcoin shoot up by several thousand dollars in a period of a few weeks sometime this summer, very likely in July. A psychological dam has been building up and when it breaks we could see Bitcoin go from $10k to $15k in a month, and very possibly never go back down to four digits again. We know the money is sitting there waiting, institutional and retail investment in the market is way up compared to a year ago when it hit $13k, and of course new supply is halved. I think a summer monsoon is coming that might shock some people. Think we'll see over $15k in July or August before a pullback to perhaps $11k as we say goodbye to four digits forever this summer. The next step to the inevitable next exponential explosion in the market over the next couple of years.

Are you all seeing what I am seeing?

[pooya87]

miners selling is not down, they are still selling their coins as before since they have the same costs including electricity bill as before. what has been "down" is the number of coins that miners have to sell which is expected as they are now earning 50% less than before and it is a big contributor to the overall decrease of sell pressure on the market as a whole.

There's also a ton of money the past few months just sitting in stable coins - likely people holding back waiting to see where the market will go.

first of all that would never affect bitcoin price. and secondly if you check the shitcoin, i mean altcoin market you will see that it is not true. the "stable coins" are going in and out of shitcoins that are being pumped and dumped every day specifically because bitcoin price is stable nowadays (for nearly 2 months) which is a pretty common thing for many years where traders migrate to altcoin market to pump and dump shitcoins.
right now 24 hour trading volume of tether is $5 billion higher than 24 hour trading volume of bitcoin. when bitcoin starts rising all that volume goes into dumping shitcoins and converting it to bitcoin. again tether doesn't come in during that process and won't affect bitcoin price.

Seems to me the only thing holding bitcoin's price back right now is short term bearish or more likely uncertain sentiment.

i completely agree specially with bold part. bitcoin investors have always had the tendency to be uncertain every time price becomes stable like these days. they prefer waiting for a signal to jump in rather than accumulating at the bottom. that is why we see stable prices be followed by a big FOMO

[mk4]

Think we'll see over $15k in July or August before a pullback to perhaps $11k as we say goodbye to four digits forever this summer.

Ah. I couldn't even count how many times I've already seen the "last time to buy bitcoin under X" statement. And you know what happened? Those lows have been broken every single time.

What I'd say is, continue increasing your bitcoin stack, and just enjoy the roller-coaster ride regardless how high and low it goes. Because trust me when I say that no one knows what's going to happen with the price.

Though I'd at least give you a bit of props for having an actual theory on why you think the prices will go up, rather than making a bland and empty post.

[RealMalatesta]

I am parted and thorn between a big increase or a big decrease. I do see a big increase coming and it looks like everything is bullish and people are optimistic and by all accounts the price should be going very high, I see at least $12k coming and I am filled with a great job right now.

However at the same time I am a bit worried because there has been plenty of times in bitcoin world where I thought the price would go up but some whale came up and sold $10k bitcoins or $30k bitcoins etc etc and caused the price to drop just as the public was getting ready to see price going up. It means if there is nothing unexpected going on the price would go up and that is the sure fire thing, however if there is something unexpected and honestly unexpected thing happening is expected in this world, that means anything could happen.

[STT]

Nope I think a decline first then we speculate on a grander rise.   You want to build a tall building, you must take maybe years creating a broad foundation to stabilise the base first.     This whole year of 2020 is in a fog or neutral if you prefer less dramatic terms, 10k is no negative by any measure and if we end December there then remember it should be taken as a great positive.     We have already tried higher this year and last year, I believe it was predictable we'd pull back from that and a year to do so is not unprecedented.   I cant say I know the reason to peak and decline, maybe it was some scheme or mis-selling in Asia like some said but it doesn't matter as the market is bigger then one particular use but we'll need more time to match buyers and sellers better.
   BTC has a ton of speculators, lots spongy action to wring out like a wet rag is the result.   Extreme speculation is net sum zero game, the base bullish case for BTC is utility provided to society and a need to transmit value securely; if thats good then we rise further over years.

[Heisenberg_Hunter]

There's also a ton of money the past few months just sitting in stable coins - likely people holding back waiting to see where the market will go.

Even after the increase in prices, I still use a part of my bitcoin holdings as a currency of the internet. This has been my way of life right after I got to know about bitcoin. I buy at a certain point of time, get some smaller stash in campaigns save them up and use them whenever I like for buying stuffs over the internet. I hold a limited amount of bitcoin as a long term holding and neither I do trade them drastically here and there to receive short profits. Bitcoin has helped me in buying stuffs at cheaper costs i.e At around in the month of January I bought a product which was $400 worth in bitcoin. I paid around just over 0.05BTC when they were in the $8k range. All of a sudden in the month of March, the price dumped to $4k which would have made me  to spend 0.1BTC where practically I spent only $200 from my holdings if we compare the $4k range.

This is how the volatile markets helps me in buying products at cheaper costs by using low bitcoin. If bitcoin rises in price, my bitcoin value in the wallet would lower as I invest a steady amount in crypto from time to time regardless of pumps and dumps. But I stack them, when prices are low and use a major part of them to buy products when bitcoin price is higher. On the other hand, stable coins never really allows us to enjoy the cheaper products which when bought in bitcoin!!!

My part of evaluation for the products which I always buy cheaper :

Fix a product which you are going to buy - Let's say the price is over $100
Buy $100 worth of bitcoin when price hits new yearly lows - Let's say $3500 - 0.028BTC
Buy the product when the price hits new yearly highs - Let's say $12000 - 0.008BTC

Think we'll see over $15k in July or August before a pullback to perhaps $11k as we say goodbye to four digits forever this summer.

If you invest wisely as I do, you will get the product you desired along with a stash of free bitcoin 

[thecodebear]

Nope I think a decline first then we speculate on a grander rise.   You want to build a tall building, you must take maybe years creating a broad foundation to stabilise the base first.     This whole year of 2020 is in a fog or neutral if you prefer less dramatic terms, 10k is no negative by any measure and if we end December there then remember it should be taken as a great positive.     We have already tried higher this year and last year, I believe it was predictable we'd pull back from that and a year to do so is not unprecedented.   I cant say I know the reason to peak and decline, maybe it was some scheme or mis-selling in Asia like some said but it doesn't matter as the market is bigger then one particular use but we'll need more time to match buyers and sellers better.
   BTC has a ton of speculators, lots spongy action to wring out like a wet rag is the result.   Extreme speculation is net sum zero game, the base bullish case for BTC is utility provided to society and a need to transmit value securely; if thats good then we rise further over years.

Ummm, what would you call 2017 - 2020?? Three years establishing bitcoin in the 4 digits, with brief excursions to 5 digits. Yeah it takes years to create a broad foundation....and that is exactly what has been done the past 3 years.

[thecodebear]

miners selling is not down, they are still selling their coins as before since they have the same costs including electricity bill as before. what has been "down" is the number of coins that miners have to sell which is expected as they are now earning 50% less than before and it is a big contributor to the overall decrease of sell pressure on the market as a whole.

There's also a ton of money the past few months just sitting in stable coins - likely people holding back waiting to see where the market will go.

first of all that would never affect bitcoin price. and secondly if you check the shitcoin, i mean altcoin market you will see that it is not true. the "stable coins" are going in and out of shitcoins that are being pumped and dumped every day specifically because bitcoin price is stable nowadays (for nearly 2 months) which is a pretty common thing for many years where traders migrate to altcoin market to pump and dump shitcoins.
right now 24 hour trading volume of tether is $5 billion higher than 24 hour trading volume of bitcoin. when bitcoin starts rising all that volume goes into dumping shitcoins and converting it to bitcoin. again tether doesn't come in during that process and won't affect bitcoin price.

Seems to me the only thing holding bitcoin's price back right now is short term bearish or more likely uncertain sentiment.

i completely agree specially with bold part. bitcoin investors have always had the tendency to be uncertain every time price becomes stable like these days. they prefer waiting for a signal to jump in rather than accumulating at the bottom. that is why we see stable prices be followed by a big FOMO

I don't see how you possibly argue lots of money sitting on the side in stable coins will have no effect on bitcoin. Obviously it does.

That is money that is literally waiting to buy in once investors feel more certain about what direction things will go. Sure there is always a certain amount float in stablecoins between trades, but my point is that amount has gone way up this year, which means lots of people are waiting until they are more sure how to invest, because of the uncertainty of what bitcoin's next move is now that it has been jammed at $10k for most of this year.

[Yamifoud]

I expect the grand rise in the 4th quarter, not in the 3rd quarter for the reason that we are still lack of market support from investors due to the economic status. It can be possible to have a passive market recover late this year and continue to move farther next year as we expect for the halving impact. But somehow, we can't expect the market to make a remarkable rise the same it shown last 2017 where we reach into almost $20k. Perhaps, another $15k is much closer to it this year.

[sheenshane]

snipped-
Are you all seeing what I am seeing?

Yes, I also have seen and understand your theory of Bitcoin price begun to bloom but I have also different insights about why Bitcoin will raise after few months, either the 3rd quarter or 4rth of this year.

So, here what I have got, PayPal Bitcoin Rumor Boosts $12K BTC Price Rally Chances. There's a rumor that Paypal will have an option of crypto acceptance and might trading as well. Due to the large population of Paypal, this is good for massive adoption that might the reason of price increase. Sorry, I'm kinda off-topic here but I can't give certain forecasts of Bitcoin price if I don't have any source. But we're the intent here, to see Bitcoin will pump up.

[Vaculin]

I'm neutral, I still have doubts on the market, it could be bearish or bullish anytime but if ever it will be bullish and bitcoin will rise based on your prediction, I still think that bitcoin price will correct and we will go back to 4 digits. I'm more conservative right now after seeing how unstable the market is,  we are still struggling to break the $10k barrier and stayed at that level, last attempt succeeded but it was a short stay, bitcoin was dump thereafter.

[exstasie]

A psychological dam has been building up and when it breaks we could see Bitcoin go from $10k to $15k in a month, and very possibly never go back down to four digits again. We know the money is sitting there waiting, institutional and retail investment in the market is way up compared to a year ago when it hit $13k, and of course new supply is halved. I think a summer monsoon is coming that might shock some people. Think we'll see over $15k in July or August before a pullback to perhaps $11k as we say goodbye to four digits forever this summer. The next step to the inevitable next exponential explosion in the market over the next couple of years.

Are you all seeing what I am seeing?

Your scenario sounds a lot like David's:

I agree with that idea if $10.5K is broken with authority.

I'm still feeling somewhat neutral on the current range. BTC is just following the stock market right now, and in my opinion stocks are unpredictable. So many variables: the Fed, the elections, lockdowns and reopening, unemployment, COVID-19 rates, speculation about a successful vaccine or treatment, and so on.

This idea is still valid. I'm still open to a dump to the $6,000s or $5,000s.

[LogitechMouse]

I want to see an upward movement towards the price of Bitcoin soon but I don't think that it will happen unless there is a catalyst that will make it happen like news, articles etc.

This is my support and resistance for the price of BTC:
Resistance - $10,000 which is right now the psychological resistance
Support - 200 Daily MA.

If $10,000 will be touched and remain there for a long time then it can be a sign that it will go upwards movement. On the other hand, the 200 daily MA is a strong support for BTC and as long as we don't go below that line I remain bullish on BTC.

[thecodebear]

snipped-
Are you all seeing what I am seeing?

Yes, I also have seen and understand your theory of Bitcoin price begun to bloom but I have also different insights about why Bitcoin will raise after few months, either the 3rd quarter or 4rth of this year.

So, here what I have got, PayPal Bitcoin Rumor Boosts $12K BTC Price Rally Chances. There's a rumor that Paypal will have an option of crypto acceptance and might trading as well. Due to the large population of Paypal, this is good for massive adoption that might the reason of price increase. Sorry, I'm kinda off-topic here but I can't give certain forecasts of Bitcoin price if I don't have any source. But we're the intent here, to see Bitcoin will pump up.

Yeah I almost mentioned the PayPal and Venmo rumors, but that's just extra. Even without that, it isn't needed for an incoming rise. Really the only thing holding bitcoin under $10k right now is the large amount of uncertainty traders and investors have - traders sell anytime there's a small uptrend because they figure it'll go down to low 9000s again, and investors have stock piles of cash sitting on the sidelines in stablecoins because they also are uncertain where the market will go. As soon as that psychological dam breaks we're gonna see a multi-thousand dollar uptrend. I doubt the uncertainty will hold for even another month. The only thing I could see that will delay it is if investors in general start freaking out again and start pulling money out of everything , stocks, bitcoin, gold, etc. But unless there's another multiple-market-wide sell off I doubt we'll even be thinking about $10k come August.

[thecodebear]

A psychological dam has been building up and when it breaks we could see Bitcoin go from $10k to $15k in a month, and very possibly never go back down to four digits again. We know the money is sitting there waiting, institutional and retail investment in the market is way up compared to a year ago when it hit $13k, and of course new supply is halved. I think a summer monsoon is coming that might shock some people. Think we'll see over $15k in July or August before a pullback to perhaps $11k as we say goodbye to four digits forever this summer. The next step to the inevitable next exponential explosion in the market over the next couple of years.

Are you all seeing what I am seeing?

Your scenario sounds a lot like David's:

I agree with that idea if $10.5K is broken with authority.

I'm still feeling somewhat neutral on the current range. BTC is just following the stock market right now, and in my opinion stocks are unpredictable. So many variables: the Fed, the elections, lockdowns and reopening, unemployment, COVID-19 rates, speculation about a successful vaccine or treatment, and so on.

This idea is still valid. I'm still open to a dump to the $6,000s or $5,000s.

Yeah that chart looks roughly right to me. I see a $15k-$17k this summer, which gets overextended and then a correction back close to $10k this Fall. That is of course assuming investors don't engage in another panic sell. Stock market is well overextended at this point as it has completely lost touch with the economy, while Bitcoin is obviously not overextended as it is still in early-mid stage of long term bull market. So I wouldn't put too much emphasis on stock market correlation. I expect stocks to fall some in the coming months, the only way bitcoin is affected is if they fall sharply as that would suggest investors are getting back into cash for the time being so the sell off would likely hit bitcoin as well as it did in March.

I think 5000s/6000s are long gone at this point (outside of a possible V-shaped panic sell). I mean we only hit that low this year because of the pandemic panic sell, and it didn't take long at all to move out of that territory. In general I would say mid-to-high 8000s are still very much in play until the dam breaks, but without a major multi-market selling event I don't think we'll go much under 9000, if it does at all. Honestly wouldn't be surprised if in like a week this thing breaks open and it's over $11k, or on the long end maybe a month or two if we get one last dip to 8000s.

Anyways, just one man's opinion!

[pooya87]

~
I don't see how you possibly argue lots of money sitting on the side in stable coins will have no effect on bitcoin. Obviously it does.

That is money that is literally waiting to buy in once investors feel more certain about what direction things will go. Sure there is always a certain amount float in stablecoins between trades, but my point is that amount has gone way up this year, which means lots of people are waiting until they are more sure how to invest, because of the uncertainty of what bitcoin's next move is now that it has been jammed at $10k for most of this year.

money does, tether doesn't. at least not as much as many people think.

the total amount of tether has gone up because bitfinex keeps printing huge amounts of it and they partly do it to satisfy the altcoin trading volume that has been growing a lot and the major altcoin exchanges and bitfinex itself all focus on tether.
also if bitcoin/tether price goes up (people buy bitcoin with tether) the bitcoin/USD price is not going to move, instead the arbitrage would bring it  down. the reason is that bitcoin/USD volume is about 4900 times more than bitcoin/Tether (~98% versus 2% of total bitcoin trading volume in Fiats+Tether)

[bitbunnny]

To be honest, I don't. I lack some factors in the market that would tell in favour of strong Bitcoin price upwards trend. Also in previous posts I didn't see any explanations or solid grounds to support such theory, only wishful thinking and subjective impressions.
I think there will be no significant changes in Bitcoin price in upcoming period, to my opinion it will continue to fluctuate in current range.

[btc78]

I expect the grand rise in the 4th quarter, not in the 3rd quarter for the reason that we are still lack of market support from investors due to the economic status. It can be possible to have a passive market recover late this year and continue to move farther next year as we expect for the halving impact. But somehow, we can't expect the market to make a remarkable rise the same it shown last 2017 where we reach into almost $20k. Perhaps, another $15k is much closer to it this year.

for the obvious reason that Pandemic effect is still in our market,so what we can expect from that is the More volatile and
 less support from many investors here in Bitcoin.


For me personally?the Upwards is always temporary now,and even in the middle of 2021?i know that market will still
 suffer and that is what we must expect so if ever the bull comes earlier then
our positivity will be maintained.

[Harlot]

Bitcoin has now been roughly in the 9000s for a month and a half now

This just shows that we are still consolidating. Bitcoin being somehow stable in a level only means it's still undecided yet if it wants to go up or down as this is the true nature of any asset consolidating. That's why every analysis we are seeing about signs of a breakout as well as a breakdown are still inaccurate as of the moment as aside from the lack of price movement we still also don't see any kind of action in it's traded volume. Not unless we see BTC reach prices near the support or resistances we can't really see where will Bitcoin will go.

[el kaka22]

The volume is not really there right now, back in the day there was a volume thanks to miners or thanks to big traders but right now the pandemic happened and even though the price is doing alright there is still some sort of volume lack that causes the price to be manipulated very easily, that is why I think the best case for us right now is to wait around and see what it will do but without volume going up I do not believe any movement to be authentic and organic.

However, if we could see the volume eventually going up during the third quarter we will be able to see where that money came from and what that money wants from bitcoin, we could see a lot of sales coming in and increasing the volume but in a way that drops the price or we could see just the reverse and see the price going up as well. We will have to wait and see.

[sunsilk]

I'm not an analyst but with my point of view, I think I can also see what you're seeing right now. But, I think that looking into the four digits. I'm not thinking that we will never see that again. I have that thinking since the 2017 bull run yet 2018 came badly and made everybody of us realize that this how we volatility hits us badly.

I'd say that if we get to become stable from the ranges above $15,000 for a long time. I guess we can use those words again that we'll never see the lower prices again.

[pixie85]

Historically Summer was good for Bitcoin. It used to remain on the same level or gain value.
In 2017 the biggest drops were early on in January and the bull market started to gain speed in Summer and cintinued until the end of the year.
Then we had a bearish 2018 and in 2019 there were big gains in May and June. May and June 2020 also were good if you look at the big picture.

It's stil uncharted territory for Bitcoin so it's hard to say if we are high or low at this 10 thosand. 

When the market is undecided it usually comes down to the news.

[exstasie]

Stock market is well overextended at this point as it has completely lost touch with the economy, while Bitcoin is obviously not overextended as it is still in early-mid stage of long term bull market.

How is BTC "obviously" not overextended? Since the March crash, it has extended further and faster than stock markets. There are no fundamental metrics that justify this; it's purely technical.

How can you declare a bull market already when we still have nothing but lower highs and lower lows for an entire year now?

So I wouldn't put too much emphasis on stock market correlation.

BTC is following US stock markets in lockstep. Literally every single move is mirrored. Why would I ignore the correlation when it's clearly the driving force in the market?

Unless you think stocks are following BTC?

I think 5000s/6000s are long gone at this point (outside of a possible V-shaped panic sell). I mean we only hit that low this year because of the pandemic panic sell, and it didn't take long at all to move out of that territory.

Right, the pandemic which is still going on and getting worse every day now.

I would expect another V-bottom type recovery, same as March.

[STT]

Downwards always downwards, or more sensibly sell the high buy the low and repeat and I judge its still high enough to sell not due to go up especially; talking as a trade days or weeks in consideration.   What I really mean is, unless have a ladder in front of you why would you assume upwards.    Why must BTC ascend right now when it already had a hell of a recovery, we wiped out the drop and people want more.   I dont assume up, I'll asume both directions happens and without a ladder or means to stably climb upwards then we do not go especially higher.
   What I mean by a ladder is a trend, a clear set of highs and lows and it kinda can look on a graph like a climbing frame or a wooden trellis a plant rises up a wall with.   Without a structure I dont think we do get past these prices, big upwards movement or any movement can happen but its not on the cards till we have good reason and probability by a series of higher lows and higher highs.   Thats not happening, I think we resolve downwards or be neutral if you prefer and trade a range could be profitable easily.
   Grayscale or other funds might have bought into crypto and thats reasonable across a sector, quite a few tech stocks that should benefit from greater distance working initially sold off in March as did BTC and since then they have done very well as actually these global conditions favour them and with the cheaper price also it was a clear buy.   So thats been the gain but it might not mean it has to continue, thats their entry I dont know various entities will continue to buy in as this adds risk for them.

[Ulven]

Historically Summer was good for Bitcoin. It used to remain on the same level or gain value.
In 2017 the biggest drops were early on in January and the bull market started to gain speed in Summer and cintinued until the end of the year.
Then we had a bearish 2018 and in 2019 there were big gains in May and June. May and June 2020 also were good if you look at the big picture.

It's stil uncharted territory for Bitcoin so it's hard to say if we are high or low at this 10 thosand. 

When the market is undecided it usually comes down to the news.

I think we cannot again rely on the temporal dimension of comparison. Yes, the price of bitcoin was growing well in the summer, but this year differs from previous years due to the epidemic, knowing that the world is still in the emergency phase, but in case we have seen news talking about the final solution to the epidemic and the end of its era, of course the markets will grow better.

That is why we must wait for the surprise that the future holds

[Kelvinid]

Thinking about SOON, it gonna be next year or for the next 10 years, yes of course. The adoption keeps growing which absolutely has a huge impact to the market price trend. We can't feel it this time as still the majority of us still use FIAT instead of Bitcoin. But of course, we can really think that the market will keep rising, it sometimes falls for some reason and market change.  However, it gonna be more positive insights that Bitcoin will make a surge, in fact, historical charts could tell its growth and development.

[okala]

I believe that the next move is not yet in sight. Bitcoin need to establish strong support above 10k before the we would see the effect of halving like it is in 2017. The current pattern look strange to me.

[ultrloa]

Sad to say but No, since the pandemic is not yet resolve so provably the crisis will continue until this disease will not be end by this year or maybe next, so many struggles interms on financial matters on this year so might we will see the big movements once the all investors are settled financially. But let's hope that this new normal thing will give a good benefit with bitcoin since might it will give a blessing with disguise for bitcoins.

[OrangeII]

Sad to say but No, since the pandemic is not yet resolve so provably the crisis will continue until this disease will not be end by this year or maybe next, so many struggles interms on financial matters on this year so might we will see the big movements once the all investors are settled financially. But let's hope that this new normal thing will give a good benefit with bitcoin since might it will give a blessing with disguise for bitcoins.

so far, prices have not shown this, even after halving. Well, although the effect won't be seen quickly, but there hasn't been any progress since Halving until now. however, I still expect price increases to occur in the near future. however, right now it looks like we need to wait a little longer.  Rapid price increases may be seen when the price of bitcoin has exceeded the price of $ 11,000.

[davis196]

Your "analysis" is based on emotion and gut feeling.I don't see any logic behind it.
I just can't imagine the Bitcoin price breaking the 10K USD barrier this July.There are so many factors that are pro-bearish or,should I say,anti-bullish.The global economy is going down and I still don't believe that Bitcoin will become a safe heaven for all the scared investors.There's a second wave of the COVID-19 pandemic and people are afraid of losing their jobs,so they aren't taking risks by investing their money into cryptocurrencies.
I simply don't expect a great Bitcoin price bullish trend in 2020.Maybe the next year.Who knows?

[Reid]

Sad to say but No, since the pandemic is not yet resolve so provably the crisis will continue until this disease will not be end by this year or maybe next, so many struggles interms on financial matters on this year so might we will see the big movements once the all investors are settled financially. But let's hope that this new normal thing will give a good benefit with bitcoin since might it will give a blessing with disguise for bitcoins.

I was going to say the same thing.
Not all of people can afford it now.
It will be best to save their money in case something bad will happen which is just around the corner since the virus is still spreading.

I have high hopes that if ever a vaccine will be created soon, it will be free for the mass.
Save lives first before profit. The government should shoulder it all if they still want living people to govern.

[bitgolden]

Well, July is a whole month long and it is bitcoin we are talking about. I can see bitcoin being $12k in July and I can see it being $7k in July as well. What people do not understand that bitcoin can do anything, and I mean literally anything, there could be some groundbreaking new tech that allows bitcoin to be super fast and super cheap and we could see the price break above $20k as well, who knows? Or maybe someone will sell thousands of bitcoin all at once and the price would drop under $5k, who knows?

All of these things could happen in bitcoin which is why I think there is a reason why we do not really care about why bitcoin could go up or down, what we care about is will it? The "can it" part is already decided and it can, the part where we are not sure about is the "will it" part and we can't really know that before it happens.

[exstasie]

As a counterpoint to the OP, I thought people might like to know that one of our resident analysts (who has made some incredible calls in the past) is quite bearish on BTC:

Guessing the following at the moment...

Sub-$1K.....

I definitely prefer thecodebear's scenario, but until $10.5K (and maybe also the June 2019 top) is broken, I won't rule it out.

[Vaculin]

Imagine hodling through $20000 only to see bitcoin trade back under $1000. That would definitely shake even the most hardcore BTC believers...

Doesn't mean it will happen. But it could.

I'm seeing it as the worse case scenario.

At least we should be ready with all possibilities, if altcoins like ETH dump really hard from its ATH of $1,300 to less than $100, then I think it's possible to any crypto coin, even with bitcoin.

However, if that will happen, it might shake me a bit but I'm not willing to give up holding.

[buwaytress]

As a counterpoint to the OP, I thought people might like to know that one of our resident analysts (who has made some incredible calls in the past) is quite bearish on BTC:

Guessing the following at the moment...

Sub-$1K.....

I definitely prefer thecodebear's scenario, but until $10.5K (and maybe also the June 2019 top) is broken, I won't rule it out.

Imagine hodling through $20000 only to see bitcoin trade back under $1000. That would definitely shake even the most hardcore BTC believers...

Doesn't mean it will happen. But it could.

Never mind 1k, I can imagine and met myself long time miners who shook their heads and put up their hands aa price was tracing down towards 10k from that high. By end of 2018 I don't think they were any I met who weren't shaken. Can't imagine how 3k must have felt later on.

Can't blame them either. Isn't about strong or weak handa anymore. Just about risk appetite.

[kesmex]

yes !, I still strongly believe there will be a big upward movement to come, although this market direction is still not good, and it is reportedly going to $ 8500, I still believe that BTC can survive at $ 9,000

[shoreno]

yes !, I still strongly believe there will be a big upward movement to come, although this market direction is still not good, and it is reportedly going to $ 8500, I still believe that BTC can survive at $ 9,000

count me in  . as i do also believe on it ,  but not just this time were prices are verry hard to predict on where it will go but even before im already a pump believer when it comes to btc and also on other coins as well  .

 dont be discourage if you saw a dump prediction as that is part of the crypto market predictions  because we only have two sides here , if not dump then its going to be pump   .  btc can survive even on a price lower than 9k or 8k

[XCANA]

yes !, I still strongly believe there will be a big upward movement to come, although this market direction is still not good, and it is reportedly going to $ 8500, I still believe that BTC can survive at $ 9,000

Don't forget that, bitcoin has a possibility of going down below $7.5k if the current movement of Bitcoin continues this very months, according to some analysis from reputable bitcoin fans and enthusiasts: the downtrend of Bitcoin is inevitable. Take a careful look at it behavior show's that, if bitcoin break it resistance at $8.8k then we should be expecting downward movement to $7.5k as it lowest. Although, we all hope to see a big turn around for a big movement for us to take our profits.

[slapper]

I do agree with you. I also see the same opportunity that bitcoin will soon rise to $15000 in a month. However, I believe that the main reason why bitcoin is still under $10000 is that whales and big boys are collecting as many bitcoin as they can. While the price is still under $10000, its a great chance for them to accumulate bitcoin and ether in order to maximize the profit. Many news and analysis have pointed out that bitcoin will soon be back to $20000. Sadly, we still dont know which date it will be. Right now is a chance for us to store bitcoin with a pretty cheap price

[judaspriest]

yes !, I still strongly believe there will be a big upward movement to come, although this market direction is still not good, and it is reportedly going to $ 8500, I still believe that BTC can survive at $ 9,000

Don't forget that, bitcoin has a possibility of going down below $7.5k if the current movement of Bitcoin continues this very months, according to some analysis from reputable bitcoin fans and enthusiasts: the downtrend of Bitcoin is inevitable. Take a careful look at it behavior show's that, if bitcoin break it resistance at $8.8k then we should be expecting downward movement to $7.5k as it lowest. Although, we all hope to see a big turn around for a big movement for us to take our profits.

hopefully not down to $ 7500, what will happen to altcoin if the price of Bitcoin to $ 7500? it worries me because I currently hold altcoin

[beerlover]

Accumulation period is really something that hurts bitcoin in the long run because while whales are trying to keep bitcoin low and buy as much as they can at the same time, they are stopping the price movement higher and when they have enough, there won't be enough people to buy to increase it. So, they are hurting their own pocket as well, causing bitcoin price to go from $9k to $12k at best instead of going to $15k, they do this multiple times a year so they are cause of not drops but stagnation as well instead of going up.

I would say it is quite an important part of bitcoin, hopefully they will stop and let it loose soon. However as long as whales have belief in bitcoin, I will too, if people who have 50+ million depending on bitcoin, why shouldn't I with my few hundred/thousand.

[osasshem]

Bitcoin hitting a new height this year was something everyone would have expected to be before the year runs out. As at now, the economic hold down on all round the world being affected by corona, bitcoin surge to a new height will not be completely attained. This does not really stop the rise in the price of bitcoin, but it getting above 2017 height is not really attainable until the ecomy of every nation bounce back to its feet.

[STT]

Positive start to the week for BTC, get it past 9400 and we can talk positive rather then just an up move brief and cut down later.



Blue is weekly and yellow is monthly but as we gone sideways for so long they are very close.   Highs for today are also 50 day moving average.

[ReiMomo]

I do agree with you. I also see the same opportunity that bitcoin will soon rise to $15000 in a month. However, I believe that the main reason why bitcoin is still under $10000 is that whales and big boys are collecting as many bitcoin as they can. While the price is still under $10000, its a great chance for them to accumulate bitcoin and ether in order to maximize the profit. Many news and analysis have pointed out that bitcoin will soon be back to $20000. Sadly, we still dont know which date it will be. Right now is a chance for us to store bitcoin with a pretty cheap price

Can you support any technical analysis on this, it's quite very optimistic for me.

I have doubt that there is a big rally on bitcoin price on this 3rd quarter of the year because most likely news headlines and the very hot issue is about PayPal adopting bitcoin as a form of payment. Due to a large number of PayPal users, it's quite good to know that there I guess a huge impact on bitcoin price that makes the dominance will raise. But I don't think so we will break again the $10k price within this month, nobody knows.

I don't have FOMO in bitcoin and I know there would be a mass adoption because this recently happened the pandemic case, which avoids physical contact and digital payments are very important, bitcoin belongs to that option.

[Cherylstar86]

Bitcoin hitting a new height this year was something everyone would have expected to be before the year runs out. As at now, the economic hold down on all round the world being affected by corona, bitcoin surge to a new height will not be completely attained. This does not really stop the rise in the price of bitcoin, but it getting above 2017 height is not really attainable until the ecomy of every nation bounce back to its feet.

The history of bullrun is somehow an inspiration to all of us who decided to hold bitcoin for such a long time. Though we're still at very tough times, never lose hope and courage to face those challenges behind us. We will survive this current pandemic, and one day bitcoin price recovery dominates the marketplace again.

[Janation]

yes !, I still strongly believe there will be a big upward movement to come, although this market direction is still not good, and it is reportedly going to $ 8500, I still believe that BTC can survive at $ 9,000

Don't forget that, bitcoin has a possibility of going down below $7.5k if the current movement of Bitcoin continues this very months, according to some analysis from reputable bitcoin fans and enthusiasts: the downtrend of Bitcoin is inevitable. Take a careful look at it behavior show's that, if bitcoin break it resistance at $8.8k then we should be expecting downward movement to $7.5k as it lowest. Although, we all hope to see a big turn around for a big movement for us to take our profits.

hopefully not down to $ 7500, what will happen to altcoin if the price of Bitcoin to $ 7500? it worries me because I currently hold altcoin

So what if it falls down under $7500?

It is the best time for us to reinvest, for people that are waiting for this price change so they can invest. If the price fell at that price, obviously people will not be selling but will be quickly buying since people might not be able to see this price again in the near future. We might see price over $10K if the price dumps since it might be a sign being waited by everyone.

[EdenHazard]

yes !, I still strongly believe there will be a big upward movement to come, although this market direction is still not good, and it is reportedly going to $ 8500, I still believe that BTC can survive at $ 9,000

Don't forget that, bitcoin has a possibility of going down below $7.5k if the current movement of Bitcoin continues this very months, according to some analysis from reputable bitcoin fans and enthusiasts: the downtrend of Bitcoin is inevitable. Take a careful look at it behavior show's that, if bitcoin break it resistance at $8.8k then we should be expecting downward movement to $7.5k as it lowest. Although, we all hope to see a big turn around for a big movement for us to take our profits.

hopefully not down to $ 7500, what will happen to altcoin if the price of Bitcoin to $ 7500? it worries me because I currently hold altcoin

So what if it falls down under $7500?

It is the best time for us to reinvest, for people that are waiting for this price change so they can invest. If the price fell at that price, obviously people will not be selling but will be quickly buying since people might not be able to see this price again in the near future. We might see price over $10K if the price dumps since it might be a sign being waited by everyone.

I would go for margin trading and get 10k usd worth altcoin such as tezos or something, i have done it before and get some decent profit when bitcoin price falls so do with altcoin fall even worse lower.

I'm expecting to see the bitcoin price get dropped 10 to 20% in the next few weeks.

$7.5k is a fair price though considering the current world economic collapses , the market must be frustrated .

[DoublerHunter]

~snip~
I'm expecting to see the bitcoin price get dropped 10 to 20% in the next few weeks.

$7.5k is a fair price though considering the current world economic collapses , the market must be frustrated .

^ I will respect your opinion even though I am against this prediction.
I don't see any correlation between economic collapse and the bitcoin dominance, even during the pandemic bitcoin price shows a good improvement of the price that was I am expecting it will down too much because people need cash for their daily necessities. But I was wrong, I saw that bitcoin dominance slowly rising up despite the pandemic. Nevertheless, we are opposite here, I have a feeling that bitcoin this month will break again the $10k price in the market, I am very optimistic.

[Febo]

If Tesla share is $1400 then why not Bitcoin would grow 10%  Noobs might thought that Tesla is new Bitcoin. BTC v2.

[Janation]

~snip~
I'm expecting to see the bitcoin price get dropped 10 to 20% in the next few weeks.

$7.5k is a fair price though considering the current world economic collapses , the market must be frustrated .

^ I will respect your opinion even though I am against this prediction.
I don't see any correlation between economic collapse and the bitcoin dominance, even during the pandemic bitcoin price shows a good improvement of the price that was I am expecting it will down too much because people need cash for their daily necessities. But I was wrong, I saw that bitcoin dominance slowly rising up despite the pandemic. Nevertheless, we are opposite here, I have a feeling that bitcoin this month will break again the $10k price in the market, I am very optimistic.

I thought Bitcoin's price will fall down after halving but it didn't.

Maybe we can say that the reason why the price of Bitcoin is staying at $9K is that there are a lot of people in India increasing the dominance of it while we are in the pandemic. People are scared because they thought that it will fall though I don't think there are a lot of people that invested there too. But some articles said that the people investing in cryptocurrencies there are increasing.

I do agree that it will increase and I am not really affected when it falls down since I know it will just go back quickly.

[buwaytress]

I thought Bitcoin's price will fall down after halving but it didn't.

Maybe we can say that the reason why the price of Bitcoin is staying at $9K is that there are a lot of people in India increasing the dominance of it while we are in the pandemic. People are scared because they thought that it will fall though I don't think there are a lot of people that invested there too. But some articles said that the people investing in cryptocurrencies there are increasing.

I do agree that it will increase and I am not really affected when it falls down since I know it will just go back quickly.

That's okay. A lot of people thought it would go up and it didn't either. To be fair, I think more people were disappointed by the lack of post halving action, but really, price was never meant to go up that much after halving, every past event needed months for the volume reaction.

Don't know about India but in dollarised Lebanon and Argentine demand has never been higher. Bitcoin due some recognition there!

[Hypnosis00]

I keep optimistic even though the chances are tin but I wasn't thinking that it makes a huge jump seeing another ATH, it probably not this year, not even next year, yet it comes soon (nobody knows). If given a chance that it surpasses $10k this year it actually a big in disguise knowing how hard we are about today. We are still in the fight against the virus, things that it most likely affects the market behavior, and surely we still experiencing the same scenario in the coming days.

Maybe we all see's and feel how hard we move after a long bearish since last year. We are happy for the halving but things we can just rely upon and think the massive impact it could be. Somewhat we are unlucky this time as the pandemic hits us.

[matchi2011]

I keep optimistic even though the chances are not tin but I wasn't thinking that it makes a huge jump seeing another ATH, it probably not this year, not even next year, yet it comes soon (nobody knows). If given a chance that it surpasses $10k this year it actually a big in disguise knowing how hard we are about today.

Probably not this year, there are lots of things that investors and traders are considering not  only if there are flows of investment
that comes up and start building barriers from time to time. The market volatilities still influencing how
investors will make a trade, there are short termers and long holders, it's about how you believe and what's
your projections  to what future will bring to this industries.

[el kaka22]

The drop is not really cool I know, from $9.4k levels to $9.1k levels is not a good move and doesn't look to be suggesting bull run at all. At the end of the day we are not going to know whats going to happen until it happens, it is going to be a tough few weeks once again, it is hard to be in this middle section where it is not going any direction at all.

Hopefully we are going to see that change one day, and hopefully that will be soon. You can't just expect bitcoin to be stable and stay at around 9-10k range forever right? It has to go down or go up eventually and when that moment comes we are going to see a lot of people trading once again. Lets hope that times comes quickly because a lot of people are bored once again. This resembles late 2018 once again when everyone just got super tired of the same numbers and stopped trading.

[EdenHazard]

~snip~
I'm expecting to see the bitcoin price get dropped 10 to 20% in the next few weeks.

$7.5k is a fair price though considering the current world economic collapses , the market must be frustrated .

^ I will respect your opinion even though I am against this prediction.
I don't see any correlation between economic collapse and the bitcoin dominance, even during the pandemic bitcoin price shows a good improvement of the price that was I am expecting it will down too much because people need cash for their daily necessities. But I was wrong, I saw that bitcoin dominance slowly rising up despite the pandemic. Nevertheless, we are opposite here, I have a feeling that bitcoin this month will break again the $10k price in the market, I am very optimistic.

Well let's just see.

Some of large amount money from the expired cme future contract has taken place to shaking the market wit its volatility to going up 1 to 5% quickly and so do to going down 1 to 5% .
We all have witnessed these since few weeks ago.

What else could be expected? They'll get tired.
The signs are pretty clear to me , the altcoin price getting up high and higher like its a bubble, I'm sure it is.

[Jating]

I thought Bitcoin's price will fall down after halving but it didn't.

Maybe we can say that the reason why the price of Bitcoin is staying at $9K is that there are a lot of people in India increasing the dominance of it while we are in the pandemic. People are scared because they thought that it will fall though I don't think there are a lot of people that invested there too. But some articles said that the people investing in cryptocurrencies there are increasing.

I do agree that it will increase and I am not really affected when it falls down since I know it will just go back quickly.

That's okay. A lot of people thought it would go up and it didn't either. To be fair, I think more people were disappointed by the lack of post halving action, but really, price was never meant to go up that much after halving, every past event needed months for the volume reaction.

Yes, perhaps there are really a lot of traders or investors who haven't been here during the last halving in 2016. So they really anticipated a huge jump in price. this 2020. But it doesn't work that way, there are too much economics that need to be satisfied first before the price goes on a bull run.

Don't know about India but in dollarised Lebanon and Argentine demand has never been higher. Bitcoin due some recognition there!

There's so much news about those countries, and maybe we can include Venezuela as well.

[buwaytress]

Yes, perhaps there are really a lot of traders or investors who haven't been here during the last halving in 2016. So they really anticipated a huge jump in price. this 2020. But it doesn't work that way, there are too much economics that need to be satisfied first before the price goes on a bull run.

Yeah, but I was referring to the point about veteran miners who, by definition, should have been here at least during the last halving. Even if not, veteran implied they're good enough to look at historic charts.

There's so much news about those countries, and maybe we can include Venezuela as well.

A lot going on but little to do with Bitcoin itself, to be fair. Lot of it is speculation.

[monineklutak]

Next year is the determinant of the price movement of Bitcoin, if this year the price of Bitcoin is stuck at $ 9000- $ 10000, then next year it might break resistance or dump into deeper support, of course we hope well to bitcoin

[Taskford]

I thought Bitcoin's price will fall down after halving but it didn't.

Maybe we can say that the reason why the price of Bitcoin is staying at $9K is that there are a lot of people in India increasing the dominance of it while we are in the pandemic. People are scared because they thought that it will fall though I don't think there are a lot of people that invested there too. But some articles said that the people investing in cryptocurrencies there are increasing.

I do agree that it will increase and I am not really affected when it falls down since I know it will just go back quickly.

That's okay. A lot of people thought it would go up and it didn't either. To be fair, I think more people were disappointed by the lack of post halving action, but really, price was never meant to go up that much after halving, every past event needed months for the volume reaction.

Yes, perhaps there are really a lot of traders or investors who haven't been here during the last halving in 2016. So they really anticipated a huge jump in price. this 2020. But it doesn't work that way, there are too much economics that need to be satisfied first before the price goes on a bull run.

We need economic to bee in good shape before we can see those one if we just speculating when theirs a pandemic happening well provably we are just dreaming for those bull run things to came, but I'm sure that the good things are near to happen to us since we actually see something good movements so I really have a positive feeling once all is in normal we will see the price is starting to blow up.

[carlisle1]

I do agree with you. I also see the same opportunity that bitcoin will soon rise to $15000 in a month. However, I believe that the main reason why bitcoin is still under $10000 is that whales and big boys are collecting as many bitcoin as they can. While the price is still under $10000, its a great chance for them to accumulate bitcoin and ether in order to maximize the profit. Many news and analysis have pointed out that bitcoin will soon be back to $20000. Sadly, we still dont know which date it will be. Right now is a chance for us to store bitcoin with a pretty cheap price

if whales are really accumulating while the price is under 10,000 then the price now should rise up because of this Buying coming from Big investors like  whales?

Anyway that 20,000$ like 2017 is coming no doubt,but at least let us not expect that soon because market is not helpful these days and there are so many complications brought to us by this Pandemic so if you can wait longer then that is much better and for now,just keep holding and accumulating.

[Oasisman]

However, I believe that the main reason why bitcoin is still under $10000 is that whales and big boys are collecting as many bitcoin as they can. While the price is still under $10000, its a great chance for them to accumulate bitcoin and ether in order to maximize the profit.

Wrong perception!
Do you think Bitcoin will stay at this current level when whales are trying to accumulate "as much as they can?". Seriously? Man, these whales have massive funds  that could actually steer Bitcoin's price in the direction they want to.
And, do you think we're still in accumulation phase atm?
If, whales or retail investors are still accumulating, that means there are massive buying of Bitcoins, and that also means more demand of supply, and the Bitcoin value will gradually increase. That's basic economics.

I'll give you a more realistic reasons why Bitcoin is still under $10,000.
1. Because of the economic downfall.
2. Because of the pandemic.
3. Bitcoin's lack of adaption.

The list goes on, I'm just stating what suits to our situation today.

[tbterryboy]

I do not think we could attribute the increasing of the price to just one nation. We have to realize that the price went down in everything, from stocks to gold, and then it increased a lot as well because in the end there had to be some recovery, this included bitcoin as well.

The only difference is the fact that halving happened right at the moment when everything was recovering and that included bitcoin as well. Doesn't matter if it was increasing or decreasing without that pandemic drop, because we will never know about that, but what we know is that price increased afterwards in may month.

Now all we need to do, is wait for it to make another movement, I don't know if it will be up or down but right now it is stable and eventually it will make another move for sure.

[suzanne5223]

I guess some crypto traders only focus more on the potential of the market to surge in price and ignore the things that will also influence the surge in price of the market. However, this doesnt mean that Bitcoin wont experience an upward movement, it just that the momentum wont last cause people will start cashout their investment for quick profit.

However, I believe that the main reason why bitcoin is still under $10000 is that whales and big boys are collecting as many bitcoin as they can. While the price is still under $10000, its a great chance for them to accumulate bitcoin and ether in order to maximize the profit.

Wrong perception!
Do you think Bitcoin will stay at this current level when whales are trying to accumulate "as much as they can?". Seriously? Man, these whales have massive funds  that could actually steer Bitcoin's price in the direction they want to.
And, do you think we're still in accumulation phase atm?
If, whales or retail investors are still accumulating, that means there are massive buying of Bitcoins, and that also means more demand of supply, and the Bitcoin value will gradually increase. That's basic economics.

I'll give you a more realistic reasons why Bitcoin is still under $10,000.
1. Because of the economic downfall.
2. Because of the pandemic.
3. Bitcoin's lack of adaption.

The list goes on, I'm just stating what suits to our situation today.

+1 to the above message.