Good news

[JayJuanGee]

12 thousand isn't such a big news. We went higher than this in 2019 and quickly corrected below 10 thousand. What makes you think this time it's going to be any different?

We are no longer in 2019.

We are over a year after that 2019 pumpening that had gone from about $4,200 to $13,880 within about 3 months.

If you believe that the same thing is going to happen, you are failing or refusing to recognize significant aspects of bitcoin, whether we are referring to cycles, supply/demand fundamentals, networking effects or other factors.

If the hashrate and the short term price are the only reasons you choose to invest in Bitcoin you are doing it wrong.

hashrate is a decently strong fundamental, too.. but surely, it is not the only consideration to account for.

What are you doing pixie85?  You selling and expecting to buy back lower? 

You anticipating a drop to sub $7k or maybe lower - which would surely be reachable if you believe that this time is not different than 2019?

If you are merely waiting for sub $10k prices, then of course, we are both within striking distance of sub  $10k and you might have some decent odds of reaching sub $10k,,, maybe 40% or higher, but hopefully you have also prepared for UP... it is dangerous to only prepare for one BTC price direction, especially when we are quite likely in a decently strong bull market.. under quantify "strong" to your peril.

I'll also add that if you didn't buy at 5,6,7,8,9 thousand and are buying now because it's near 12 you are also doing it wrong.

Hopefully, there are not too many people who are doing that, but there surely are people who are just finding out about bitcoin or just getting into bitcoin, and what kind of advice would you be giving to a newbie?  You want newbies to wait?  Do you believe that waiting is practical or prudent under current circumstances if you happen to be someone with little or no coin, currently?

Surely, my suggestion always is to attempt to prepare for both UP and down, and if you are newly establishing yourself in bitcoin, then preparing for UP means to buy a little, and surely if you suspect that the BTC price might go down, you might choose to buy a bit less BTC at the current price, but you surely are not going to be prepared for UP at all if you do not have any BTC, you do not buy any and you merely wait because some random peep on the interwebs believes that we are in a 2019 pattern, even though we are over a year later and there are quite likely significant and material factors that have changed since 2019.. but the random peep on the interwebs wants you to believe that this time is not different (even when it factually is different)?

[1713272223]

1713272223

[20kevin20]

Price moves on a quite slow pace nowadays - or might be me not being that obsessed with checking it 24/7 anymore. But slower bumps are much healthier imo than what we've had few years ago.

As an advice, I'm not sure I can give one that'd really be efficient besides assessing your risks and investing what you can afford to lose. In my opinion, while short term has a little question mark, longer term should look great. But even if it ends up not being so, I'd take it as an opportunity to buy it. My biggest reason is the halving. 2021 is going to be an interesting year.

I'll also add that if you didn't buy at 5,6,7,8,9 thousand and are buying now because it's near 12 you are also doing it wrong.

Depends. Could turn out to be the opposite instead. I guess luck is a thing here as well.

[seoincorporation]

Price moves on a quite slow pace nowadays - or might be me not being that obsessed with checking it 24/7 anymore. But slower bumps are much healthier imo than what we've had few years ago.
...

I agree, we don't see those crazy jumps nowadays, is hard to predict when the massive bump or dump will happen, but in the past months we have seen only a small oscillation in the prize, so, our only option is to hold and watch how does this bump ends.

I think it's 20k time yet, that will take at least one more year.

[Ozero]

MIGHT the market will do the rally or it will dump soon, people will still invest Bitcoin no matter what the hash-rate shows, they never think about but just focusing on the price trend.

I do believe it was good news by then seeing that we broke already the $12k resistance. Those who buy earlier will absolutely are be profiting by now. This could might also an encouraging moment for the others to invest as the momentum continues to look positive every other day.

The fact that the cryptocurrency market grows in price in the second half of July and in August, when traditionally at this time business activity freezes in all markets, is a good and encouraging sign for market participants. If, in mid-August, bitcoin finally overcomes and holds the price of $ 12,000, then what will happen in the fall, when prices in the market usually rise much higher? Of course, it is now much more profitable to buy bitcoin before it has risen much higher in price.

[JayJuanGee]

Price moves on a quite slow pace nowadays - or might be me not being that obsessed with checking it 24/7 anymore. But slower bumps are much healthier imo than what we've had few years ago.

The phenomenon that you refer to is also known as "coiling".... good luck with your purported fantasy of a "quite slow pace" nowdays.

As an advice, I'm not sure I can give one that'd really be efficient besides assessing your risks and investing what you can afford to lose.

Nothing wrong with that, and BTC is an assymetric bet, so you can do quite well with a relatively small amount of capital, but if you want to do well, it is probably better to put more than $100 into it.. but hey, "doing well" is a relative concept, too.

In my opinion, while short term has a little question mark, longer term should look great.

Are you short-term bearish and long term bullish?

You think down before up?


hahahaha

hear that nonsense all the time.. so gotta attempt to find some humor in almost any variant of it, no?

But even if it ends up not being so, I'd take it as an opportunity to buy it. My biggest reason is the halving. 2021 is going to be an interesting year.

fair enough.

I'll also add that if you didn't buy at 5,6,7,8,9 thousand and are buying now because it's near 12 you are also doing it wrong.

Depends. Could turn out to be the opposite instead. I guess luck is a thing here as well.

I agree... good to prepare for up, too, just in case.

MIGHT the market will do the rally or it will dump soon, people will still invest Bitcoin no matter what the hash-rate shows, they never think about but just focusing on the price trend.

I do believe it was good news by then seeing that we broke already the $12k resistance. Those who buy earlier will absolutely are be profiting by now. This could might also an encouraging moment for the others to invest as the momentum continues to look positive every other day.

The fact that the cryptocurrency market grows in price in the second half of July and in August, when traditionally at this time business activity freezes in all markets, is a good and encouraging sign for market participants. If, in mid-August, bitcoin finally overcomes and holds the price of $ 12,000, then what will happen in the fall, when prices in the market usually rise much higher? Of course, it is now much more profitable to buy bitcoin before it has risen much higher in price.

It is never bad to buy bitcoin...

Just establish a long term BTC plan, and just continue to buy BTC on a regular basis until you reach your BTC accumulation goal.

Once you reach your BTC accumulation goal, then you can fuck around with guessing if the BTC price might go up or down or whatever.

[YuginKadoya]

Good News for a certain individual that already bought Bitcoin when the price is still not in peak, and for the people that are only holding and waiting since the beginning of Bitcoin, that are the lucky ones that don't lose faith on it,

And Bad News for late in buying Bitcoin, well they can still buy today and hope OP would be right in the latter of the movement of the hash rate but then again the price is not determined with that,

The price is still increasing and as we are now the ATH is nearing but apparently correction is still there and no one know when can it strike.

[JayJuanGee]

Good News for a certain individual that already bought Bitcoin when the price is still not in peak, and for the people that are only holding and waiting since the beginning of Bitcoin, that are the lucky ones that don't lose faith on it,

And Bad News for late in buying Bitcoin, well they can still buy today and hope OP would be right in the latter of the movement of the hash rate but then again the price is not determined with that,

The price is still increasing and as we are now the ATH is nearing but apparently correction is still there and no one know when can it strike.

Huh?

Lots of people speculate that they are "too late" when they come to bitcoin and first learn about bitcoin and first start to implement some kind of buying/accumulation plan, but if you do not have any BTC in your investment portfolio, then whatcha-gonna-doooo?  Wait?

Sure, if you failed or refused to invest in BTC in the past, there is not a whole hell of a lot that you can do about those bygone times, so you have to decide what are you going to do right now?

If you are just hearing about BTC, then you might want to figure out your own particulars, establish a BTC buying plan and then start to employ such plan.  Of course, you can study and attempt to learn more about bitcoin along the way so that you can just figure out ways to best implement your newly discovered exposure to bitcoin information... and thereby, it is not too late today, but you may well fuck things up if you fail to do anything and then look at where you are at 4 years from now..  proclaiming that you should have done something 4 years earlier (which is today) and those people 4 years earlier are so lucky.. blah blah blah...

[20kevin20]

The phenomenon that you refer to is also known as "coiling".... good luck with your purported fantasy of a "quite slow pace" nowdays.

Oh well, considering all the 2020 events, I wouldn't be surprised if there was a sudden insane chart move. The thing is, it does seem to be slower paced if you compare it to past pumps.

Nothing wrong with that, and BTC is an assymetric bet, so you can do quite well with a relatively small amount of capital, but if you want to do well, it is probably better to put more than $100 into it.. but hey, "doing well" is a relative concept, too.

"20% profit? Take it! Nobody killed themselves for being on profit", someone told me a long time ago. Definitely relative, yet this is  still a funny thing I'll probably never forget.

Are you short-term bearish and long term bullish?

I honestly don't really care about short term so there's no position I've taken. Meant to say I have no idea about short term (especially as heavier dumps aren't that rare for this one) while I'm pretty bullish on the longer term. Like, maybe tomorrow it drops back to $10k. Maybe it goes up or stays around $12k. I don't really care tho, all I care for is the price we'll have in a matter of years - and solely based on "adoption" & halving, I believe the future is holding a sweet price tag for us.

[int03h]

Surely Bitcoin will increase its value rapidly because each time miners turn on their miners the market becomes stronger. I have faith that bitcoin will soon return on its way to the highest ATH. We're having some trouble getting into technical analysis and Bitcoin value manipulation situations. The rapid increase in the price of bitcoin will lead to a correction. I expect the next bull wave will be in October-December

[Beyerd17]

Surely Bitcoin will increase its value rapidly because each time miners turn on their miners the market becomes stronger. I have faith that bitcoin will soon return on its way to the highest ATH. We're having some trouble getting into technical analysis and Bitcoin value manipulation situations. The rapid increase in the price of bitcoin will lead to a correction. I expect the next bull wave will be in October-December

Yeah Bitcoin is great, slow for real life usage, expensive if you actually use it to buy something. Bitcoin is simply screaming for something better, faster and cheaper to take its place. I will be very surprised if something much better hasn't taken Bitcoins place in 10 years from now.

[imstillthebest]

if its been broken that means btc is not secure ? or im wrong because you look so happy but thanks for the explanation atleast i know that hashes have a relation to the price if btc will pump or not . this encourage people to put more money if they saw posts like this .we have the same thought after halving because i also thought that miners will stop working but we were wrong  .  btc instead became more stronger when we expect it to become weak

[yazher]

What if it's just a coincidence since the market was going well lately. Now that you mention this, it would might get another interpretation by the others because this too just a theory anyway. What if happens the other way around? I mean the price will sink after what happened? The situation of the market is going the way we like it but still, we cannot say that it's all because of what you said, there are lots of good news about BTC these days, you know?

[lepbagong]

What if it's just a coincidence since the market was going well lately. Now that you mention this, it would might get another interpretation by the others because this too just a theory anyway. What if happens the other way around? I mean the price will sink after what happened? The situation of the market is going the way we like it but still, we cannot say that it's all because of what you said, there are lots of good news about BTC these days, you know?

the possibility of bitcoin going down again has a big chance because the end of the year is still long and things can happen and no one can determine. but based on experience, if bitcoin is showing an increase, if there is a decrease, it will quickly make changes to get back to the path that has been desired.

[DarkDays]

Besides the obvious increase in value for popular digital assets, I think the Bitcoin bull market can be observed based on the following trends.

1. Are miners selling their gains or holding? Since the influx of new bitcoins onto the market is one of the main drivers of sell orders, miners holding their winnings for longer can be an indication of bullish sentiment.
2. What are the crypto funds doing? Are they doubling down on Bitcoin or are they diversifying into altcoins? These whales tend to have access to insights and market analysis tools that your average joe doesn't, and can hence make better decisions about what to do.
3. How slow and steady is the growth? If slow and interrupted by periods of consolidation—then perfect! If sudden, volatile, and prone to reversals—this could easily be caused by market manipulation (bull trap?)

Right now, the hash rate indicates they're looking to accumulate—hence we are almost certianly in a bull rally.

[JayJuanGee]

The phenomenon that you refer to is also known as "coiling".... good luck with your purported fantasy of a "quite slow pace" nowdays.

Oh well, considering all the 2020 events, I wouldn't be surprised if there was a sudden insane chart move. The thing is, it does seem to be slower paced if you compare it to past pumps.

Personally, I believe that the BTC price is so god damned close to being exactly on schedule in accordance with the four year fractal comparisons.  I am personally surprised by how close this particular pattern is... and sure we had a kind of front-running blip from April 2019 to June 2019 when the BTC price went shooting up 3.5x from $4,200 to $13,880... but overall the BTC price has largely reverted back to the pattern.. so I am not really sure how you are concluding that this time around might be slower, except maybe that you have a kind of recency bias or maybe a bias of being caught in the moment and hopening that the BTC price would move faster... please, please, please.., .and such seeming impatience is not a good disposition (not meaning it in any kind of personal way, just saying that price movements can take a decently long time and they can feel as if they are moving slow while we are within the middle of them, but if you zoom out or you look back after the fact, the price movements end up showing that they had moved way further and way faster than what we had been feeling while we were in the midst of them).

Nothing wrong with that, and BTC is an assymetric bet, so you can do quite well with a relatively small amount of capital, but if you want to do well, it is probably better to put more than $100 into it.. but hey, "doing well" is a relative concept, too.

"20% profit? Take it! Nobody killed themselves for being on profit", someone told me a long time ago. Definitely relative, yet this is  still a funny thing I'll probably never forget.

Well, in the past if you had gotten overly excited by 20% price movements in BTC, you would have fucked yourself over multiple times, and probably end up chasing the train or getting mediocre returns based on your failure and refusal to appreciate your profits in BTC (in other words fucking up by valuing your wealth in dollars (short term) rather than BTC (long term))

Are you short-term bearish and long term bullish?

I honestly don't really care about short term so there's no position I've taken. Meant to say I have no idea about short term (especially as heavier dumps aren't that rare for this one) while I'm pretty bullish on the longer term. Like, maybe tomorrow it drops back to $10k. Maybe it goes up or stays around $12k. I don't really care tho, all I care for is the price we'll have in a matter of years - and solely based on "adoption" & halving, I believe the future is holding a sweet price tag for us.

Of course, I don't really know your BTC investment background, but if you were largely dabbling in BTC in 2016 when you registered your bitcoin talk account, you might not have been had enough time (or even capital) to take an assertive BTC position, so sometimes it can take a while to build wealth and even to build capital even if the asset class is going very well.

So, in that regard, all of our positions and our mindsets are going to differ from one another in terms of how much time that we had been able to build in BTC and how much capital that we had available to attempt to build our wealth in BTC.

For the past few years, my confidence has grown quite a bit in bitcoin, not only because I have been investing into it for a decent amount of time, but also because bitcoin has matured quite a bit as an asset class.  Sure bitcoin remains immature as fuck, but we can still look at BTC, as an investment, with a decently larger amount of confidence than we could prior to the 2017 run and prior to the 2017 and early 2018 resolution of several issues and concerns.  Bitcoin has shown its strength as a strong asset class for those who are capable of seeing it (and sure some people just have not been adequately exposed, yet, either), even more convincingly during and after 2017 and into early 2018, which can cause a decently greater amount of confidence to advise (or suggest) that new entrants into BTC should be able to comfortably take a 4-year plus investment time horizon in regards to BTC, so long as their own time horizon also allows in terms of their age/health etc - and surely it would have been more uncertain and difficult to make anywhere near to as long of a commitment to investing into bitcoin prior to the 2017 situation and the various resolutions that showed themselves through such battling processes.

So, even with you, 20kevin20, if you are having some uncertainties regarding how to play bitcoin in the short term or whether you should be attempting to play bitcoin in the short term in regards to figuring out BTC price movements, I would say fuck that bullshit.  First, you should be making sure that you have sufficiently and adequately established your long term investment amount.. and once you secure that to a sufficient level through lump sum investing or DCA.. then maybe thereafter, it may be reasonable and justifiable to play around with some other aspects of your BTC holdings in terms of trying to figure out if the BTC price might be going up or down in the short term.. that is if you have any inclinations to attempt to play those shorter term BTC price expectations.

[Shasha80]

Actually, since 2019 I have predicted that Bitcoin in 2020 will be good, because of the Bitcoin halving event. It turned out that
my prediction started to come true, after the halving the Bitcoin price started showing an upward movement. Even yesterday
the Bitcoin price has managed to rise to $ 12,000. This is a good sign, although now the price of Bitcoin has  started to slowly
fall due to price corrections. But I'm sure Bitcoin price will go back up towards $ 15,000 soon.

[JayJuanGee]

Surely Bitcoin will increase its value rapidly because each time miners turn on their miners the market becomes stronger. I have faith that bitcoin will soon return on its way to the highest ATH. We're having some trouble getting into technical analysis and Bitcoin value manipulation situations. The rapid increase in the price of bitcoin will lead to a correction. I expect the next bull wave will be in October-December

Yeah Bitcoin is great, slow for real life usage, expensive if you actually use it to buy something. Bitcoin is simply screaming for something better, faster and cheaper to take its place. I will be very surprised if something much better hasn't taken Bitcoins place in 10 years from now.

hahahahaha

What a bunch of nonsense, Beyerd17.  You don't even seem to appreciate what bitcoin is, or from where its value comes.. Do you really believe that bitcoin's value comes from fast and cheap transactions when having actual power over the HODL or sending of your value (while it is maintained as secure) seems way more powerful to me.  Think about moving $20k, $50k, $500k, $20million, or some other meaningful amount of value across jurisdictions with multiple hops and maybe over the span of a few months for the overall multiple hops.  How are you going to do it now?  How are you going to do it in the future?  Would you rather get permission or to try to sneak the value with traditional means.. or would you like to possess fuck you status?  Any coin, asset or currency come close to bitcoin in terms of such power?

Anyhow you are spouting out some nonsense shitcoin talking points... or are those BIG blocker talking points?  Difficult to know which shitcoin pumpening camp you might be falling into with your lame-ass bitcoin shaming and your baloney expressions of hopium regarding bitcoin's speculative demise when there is absolutely no competitor to bitcoin that even comes close, as I am typing this post... Go ahead.. name one?  Go on.  You got anything besides amorphously vague allegations regarding bitcoin's purported deficiencies that are largely meaningless and immaterial towards bitcoins ongoing value proposition?

[20kevin20]

What a bunch of nonsense, Beyerd17.  You don't even seem to appreciate what bitcoin is (..)

I wish I could agree with you, but it totally depends on what "better" means to the larger percentage of people. Because while back in 2010 BTC might've only had tech geeks and privacy-seeking guys interested, today the thing that apparently matters the most is its value and how fast it is.

This is the best launchpad for centralized currencies: extremely fast (almost instant), close to zero fees, small price but with high enough market cap and so on.. how convenient, right? Let's put everything "financial freedom" means to the side and sustain something that enslaves us even more than the current system we all have to be living in. This is how the average person unfortunately thinks, and I honestly believe there will be a Bitcoin replacement at some point as well. Of course, it will not be decentralized nor will it sustain any of Satoshi's ideas but it'll be shaped up in such a way that it'll become an actual competitor. And yeah, that's like fooling the mass to think the fashion industry could somehow compete with the tech. Bullshit.

snip

To be honest, I haven't done a proper chart check of the current BTC bullish pattern vs previous ones. If we're following previous patterns, it must be my mind playing games on me then. However, I've seen and been fooled by so much "similar pattern" stuff on TradingView I'm not even sure if I should believe it anymore, lol.

I've been around since 2013 and I've learned a lot out here. One thing I know is, I would've had way more BTC now if I was to never sell. But it does get so much harder to abstain from selling when you know you have creepy falls like $1.3k to sub-$200 or $20k to $3k - and especially during the beginning of 2020 when, AFAIK, commodities went straight up while BTC got dumped hard. I obviously also have way more confidence than I used to have years ago and these events don't really affect me anymore at all.

I stopped playing with my BTC for the short term specifically for the amount of times I've wrongfully done so. Rather than being constantly emotionally challenged and making wrong moves at the wrong times, I'd rather just accumulate and hodl onto that sum. Without a very strong emotional control, you'd fuck up your BTC before you know it.

About percentages of profit I consider enough, "to each their own" is the best way to go, I guess. Thinking of those who bought at $1 and sold at $100, they might regret it right now but they never knew it'd ever reach $10k, did they? Some people struggle getting 20% profit in an entire year with stocks. Hell, some struggle doubling their stocks portfolio in half a decade. Making the same people take a look over the BTC chart would probably get pissed off. You could purchase today, sell at $100k and 5 years later a Bitcoin is worth $10M. You just never know, but as soon as you're happy with the profit why not cash it out if that's your plan?

Then, it all goes down to what you care more about: USD value or total amount of BTC? I personally care more about the latter right now. Hence, I don't even care about drops anymore. As I said, that's just one more opportunity for me to accumulate more. Whether my BTC net worth will be a hundred bucks or ten million in the next few years, all I want is to know that I do have a financial freedom I can enjoy - be it through a drink or a luxury mansion.

[jademaxsuy]

Speculation is really something that will likely to happen. Btc currently drop some percentage in terms of its market price. The btc market is very hard to predict. It is not mostly going to happen on what we have expected. If expect something great to happen but it did not and it will just cause a stress. So, if I were to invest or believe in something then that will be my own prediction. This time might be good time to invest but I think it is better to invest when there is a market crash to happen.

[Kelvinid]

Speculation is really something that will likely to happen.

What speculations do you have, another $20k, another ATH?
In a certain thing that it can be possible to happen but unlikely we can't predict it when.

Btc currently drop some percentage in terms of its market price. The btc market is very hard to predict. It is not mostly going to happen on what we have expected. If expect something great to happen but it did not and it will just cause a stress. So, if I were to invest or believe in something then that will be my own prediction.

In a thing that the market is unpredictable, it is still worthless to think high more than the thing that the market has. Because the market shows huge pumps, then we can say or think that we able to be at ATH gain? Not really is that and it never works that easily.

This time might be a good time to invest but I think it is better to invest when there is a market crash to happen.

No, I don't think this is a good time to invest Bitcoin, but it is for you to decide and accept the risk. Nothing is the perfect time for investment but much better to start when the market is still low than the situation we have now.