Bitcoin over $10,000 for the past 66 days

[darewaller]

Let us not talk about the falling instead lets look for another hype lol.

$10k is indeed in good faith this couple of months but we need more because the situation now is subsiding from the Burn of Covid 19.
so basically purely Pumping is what we need and more off the Election of US is soon to come,surely another movement will near to come.

I'm surprised that the past movement took place long (relatively) before the elections. What caused this? I don't see any fundamental factors at the moment. I see that the hashrate of the bitcoin network is breaking records, but this cannot be the reason, usually it is a consequence of some positive changes.

This might be because of the market recovering slowly from the devastating corona virus situation that was caused for several months and even now it has not cleared but has really slowed down and everything is getting back to normal. Maybe if the virus spread did not happen we might be having 16-17k price right now but the price was suppressed as low as 4k and the hike that was due to be taken place was spent all in filling the hole caused in march.

What I am saying is that the price went to around 4k in March and to lift it up to where it is now was a huge challenge in itself and imagine if the price never dropped we would had a new All-Time high price already. So as the market is recovering we are moving strong towards the next year and financial sheets are getting better for everyone slowly.

[Fortify]

This somewhat coincides with EU and UK central banks telling people to prepare for negative interest rates. I can see a lot of rich people choosing to move at least part of their money into slightly riskier assets, since it will be losing even more value if they simply leave it in a bank account. The world is not really prepared for negative interest rates but Covid is making it more likely - so apparently Covid is good for cryptocurrencies like Bitcoin.

[thecodebear]

I wouldn't be surprised to see it drop under $10k again, but I also wouldn't be surprised if we never see a single trade in the 4 digits again. If there is a correction in the next few months I could see it very briefly dipping under $10k at its lowest, and then spiking back up. But in general 4 digits are likely gone for good now and $10k is the floor of the market now.

[jostorres]

Bitcoin has been above $10,000 since July 27 and attracts more young investors and crypto enthusiast. Will BTC ever drop under $10,000 ever again?

Read the article if you also find it interesting: https://www.worldcoinindex.com/news/bitcoin-makes-new-record-completes-63-days-consistently-over-10k-the-longest-period-ever

Let us not talk about the falling instead lets look for another hype lol.

$10k is indeed in good faith this couple of months but we need more because the situation now is subsiding from the Burn of Covid 19.
so basically purely Pumping is what we need and more off the Election of US is soon to come,surely another movement will near to come.

I don't understand what connection is there between elections in America and the price of bitcoins or crypto in general. Apart from from sportsbook taking bets on the event I cannot find any relation between the elections and the price for bitcoins.

I was surprised that BTC did not dropped below 10k since a long time and now people may set target for 11k or 12k and maybe even 13k in future. The thing with bitcoins is that it can rise and drop like a freefall so don't be too optimistic if the price goes bonkers or remains stable also don't get too worried and don't panic sell when it goes down. Volatility is the nature of bitcoins and we have to live with that and actually that's better because more volatile means more chances to buy and sell frequently.

[STT]

The connection is not USA directly, you are correct in one way but the dollar is very relevant and since the people in charge to some extent are elected then its a possible change of policy etc.   Its a pretty big news event that can show up on the graphs without any great energy, it might even be the case the price is rising because Biden grew in the polls Im not sure if thats perceived that way or not.   The FED is supposed to be independant and not political but thats nonsense, its all about government not trade at present; debt over proper policy has been true for years.
   I still think we can revisit the 200 day average which is below 10k, volatility is rising over time and for that reason alone even without being negative we can retrace previous pricing to that extent.

[bestfriendyb]

I think BTC will be traded around 10k area and go up from here. There will not be 3k price anymore.

Now, 27th Otc

[SmokerFace]

I've doubted that bitcoin will fall again at the end of the year Since New Year and Christmas is near and people surely use their bitcoin to spend the festival.
I think this what happens in 2017. But since it's highly volatile so I am not 100% sure if it happens or not.
No matter what happens I will still hold my all coins until it reaches to 20k

[Emitdama]

I've doubted that bitcoin will fall again at the end of the year Since New Year and Christmas is near and people surely use their bitcoin to spend the festival.
I think this what happens in 2017. But since it's highly volatile so I am not 100% sure if it happens or not.
No matter what happens I will still hold my all coins until it reaches to 20k

Yeah, actually the price hardly ever falls during the end of year because like you mentioned people spend their coins but there might be other reasons as well because I imagine the shopping with bitcoins cannot have a massive impact on the price. There might be other reasons like the year comes to an end so people invest their spare funds into bitcoin or something like that maybe.

I agree that we might see a $20k soon and anyone selling now will only regret but that doesn't mean I am trying to stop someone from selling because the market is so volatile that you better take your own decisions.