BTC - What next?

[goaldigger]

Anything is possible with crypto.

Don't act in panic. If you have unrealised profits, then this might be your chance to collect them before something bad happens just like you predicted.

I also believe we haven't done with Covid19 yet and there is more to come.

Exactly, the answer here is that if you are already satisfied with the profit that you make on the current trend, then sell your bitcoin and you can always buy again later.

I'm not good at chart analysis but looking at the chart, and as of posting we are able to break the resistance level and we're back on the level of $10,800 which is a good side of an uptrend. There's more to come, US election is coming as well and yes the virus is not yet done so be ready for everything, what ever happens stay focus.

[LogitechMouse]

Since the huge drop that happened weeks ago, Bitcoin's price is sitting at the price range of $10,000-$11,000 "AGAIN".

Even though we are still in a pandemic, I'm optimistic with Bitcoin and I expect for it go up possibly next year. This year, my prediction is it will not pass at least the $14,000-$15,000 price or even the $13,000. I expect for more movement in Bitcoin as the upcoming weeks goes by either upward or downward. If the $10,000 support will be broken, possible next support is the 200 Daily MA. Overall, I'm not reacting to any movement of Bitcoin since I'm just holding it.

[btc_angela]

Next week, we hope that bitcoin price can back to the high price and break $11k because this hour, bitcoin price seems trying to break $10,900.
Hopefully, the price can break that price and stay for a while on that price, or the price will have a chance to break $10,900 or $11k soon.
The bitcoin price looks been forced to go down again because the red candle still pushes the price down.
I hope that the bitcoin price still has power and can hold on to that price.
But if bitcoin price can not hold it, we will see another adjustment again, so prepare yourself.

The jump to $10,900 was too quick and others say it may have something to do with this news, Square buys $50 million in bitcoin, says cryptocurrency ‘aligns with company’s purpose’.

So it's early to say whether we can hold and sustain that growth. But I'm not seeing the price going below the 5 digits though (although the US election is near that might have negative impact short term), so there will be no adjustment, except to accumulate before it took off next year.

[Distinctin]

It is the current drop trend it makes us to worried and makes the decision to switch to a stable coin USDT. I don't it is a need just to save from losing because definitely if Bitcoin will drop, it will still recover shortly. I'm still positive that it never goes like that instead of seeing a rising momentum after the Defi losses its momentum. It needs time to see the uprising momentum and let that moment to come true without worrying so much for the incoming.  Likely, I see a huge comeback and looking for $13k-$14k in the last quarter.

[genievic23]

is it not a symmetrical triangle?  for me I think it'll go back to 12400 again in a few weeks

[arwin100]

Next week, we hope that bitcoin price can back to the high price and break $11k because this hour, bitcoin price seems trying to break $10,900.
Hopefully, the price can break that price and stay for a while on that price, or the price will have a chance to break $10,900 or $11k soon.
The bitcoin price looks been forced to go down again because the red candle still pushes the price down.
I hope that the bitcoin price still has power and can hold on to that price.
But if bitcoin price can not hold it, we will see another adjustment again, so prepare yourself.

The jump to $10,900 was too quick and others say it may have something to do with this news, Square buys $50 million in bitcoin, says cryptocurrency ‘aligns with company’s purpose’.

So it's early to say whether we can hold and sustain that growth. But I'm not seeing the price going below the 5 digits though (although the US election is near that might have negative impact short term), so there will be no adjustment, except to accumulate before it took off next year.

Can't say anything for now since the movement is questionable so I'd rather want to monitor the market since I don't want to take a bad step at this moment, maybe in next quarter all will be clear since maybe that's an accumulation time for people since many think that the bull run will came on next year. But I'm not convinced for that matters since this year is different and for sure the pandemic contributes for the drops.

[Poker Player]

As a BTC holder, I'm starting to think about moving a large part of my BTC to USDT.
2nd wave of COVID-19, gap on CME, SPX and news, that showing around -  creating not positive thinking about the near future for BTC and the crypto market in general (personally for me).

What's your thoughts about this situation?

You do not explicitly say whether you are investing in the long or short term, but from your words it is clear that you are playing short term. Keep trying to time the market. I think the only system that works for that is to consult your crystal ball, as short term prices depend a lot on human emotions reacting to certain events and not to intrinsic properties of assets.

I prefer to invest long-term: buy and hold.

[Upgrade00]

But what to expect from the vast majority of investors who do not know the difference between Bitcoin and blockchain and what halving actually represents in technical terms - so I read that halving actually reduces the total amount of BTC by half every 4 years, which is of course a completely wrong interpretation.

Wrong information is one of the problems in the cryptocurrency space, I came across a thread some time back discussing inaccurate facts posted on one of the popular websites, I believe it was investopedia.
New investors are usually not pointed in the right direction when seeking knowledge about bitcoin, and this forum is not promoted on external platforms so they are less likely to find it and even if they do, some would probably not be able to navigate it properly.
Reason why I would not mind the forum's official social accounts (like the one on Twitter) being more active.

but also because of lower transactions fee which will surely change in the event of a new big bull run.

+1
Small investors would be more discouraged by such fee spikes which comes with a bull run. Buying $50 worth of BTC and having to pay 10% of that in fees would put a number of people off.

[exstasie]

As a BTC holder, I'm starting to think about moving a large part of my BTC to USDT.
2nd wave of COVID-19, gap on CME, SPX and news, that showing around -  creating not positive thinking about the near future for BTC and the crypto market in general (personally for me).

What's your thoughts about this situation?

Short term, it looks like we should expect a thrust above the $11,200 resistance. This symmetrical triangle broke to the upside:



I'm not convinced the market is ready to breach the August highs though. I think there is more ranging and consolidation in the cards. Filling the CME gap in the $9,000s is definitely possible.

[Oasisman]

~snip~

The jump to $10,900 was too quick and others say it may have something to do with this news, Square buys $50 million in bitcoin, says cryptocurrency ‘aligns with company’s purpose’.

That could be the reason, because that was a sudden mini pump.

So it's early to say whether we can hold and sustain that growth. But I'm not seeing the price going below the 5 digits though (although the US election is near that might have negative impact short term), so there will be no adjustment, except to accumulate before it took off next year.

Well, if the true reason for this current growth is what was mentioned above, then I'm pretty sure Btc would be staying around the region of $11,000. The US election may only have little to no effect right now IMO.
This price movement is just similar during Btc was hovering around $8,000 and $9,000 a few month back in 2020.

[Ayiranorea]

The market holds strong above $11000, but this resistance can be broken anytime soon by November. As the market is manipulative the good news that has come in recent weeks have made it move above $11000 in a much stabilized manner without marking any sideway slide in the market. By the next market drop we can expect some downward deviation gradually leading to $7500 - $8000 before marking a new high for the year 2021.

[kotajikikox]

As a BTC holder, I'm starting to think about moving a large part of my BTC to USDT.
2nd wave of COVID-19, gap on CME, SPX and news, that showing around -  creating not positive thinking about the near future for BTC and the crypto market in general (personally for me).

What's your thoughts about this situation?

If you did this decision then maybe you are at bad situation now because hours after you posted this Bitcoin Price take 11,000 usd again and now?
closes to 11,400 and still climbing up.
and beside why in the world that you choses USDT?because of safeties but so low income?


For me i would rather risk in investing in not stable coin but will have a chance to make more profit than in stable coins that safe but giving a little
income each time.
but I respect your decision hoping that you will never regret leaving Bitcoin to stable coin like Tether ...

[culuuton]

As a BTC holder, I'm starting to think about moving a large part of my BTC to USDT.
2nd wave of COVID-19, gap on CME, SPX and news, that showing around -  creating not positive thinking about the near future for BTC and the crypto market in general (personally for me).

What's your thoughts about this situation?

In fact, bitcoin is still very stable while the wave of covid-2 is sweeping across many countries, today the price has surpassed $11k. I think you don't need to worry too much, when covid appeared people thought disaster, but the price of bitcoin is still good, and today when gold rises, bitcoin also increases rapidly.

[Inkdatar]

I’m not experts looking at the chart and we cannot predicted prices if it were it will heading. But, the current price right now is close to 11,400$. When price drops it will bounce as to what I have observe from the previous cycle price of bitcoin in the market. In my own opinion, I wouldn't transfer my btc to usdt as I can see it will increase in the coming or following days.

[reliable]

Market seems to be on a rally and moving strongly upwards and now at 11400$. Bitcoin is a good to have and also it can have a good bull run in no time where it can move like 1 to 2k quickly and no one would not like to miss out such rise. So staying invested in it is really what I prefer and also a major huddle seems to 12k and soon if it can cross and stays above then we might be in a good year end closing.

[exstasie]

Short term, it looks like we should expect a thrust above the $11,200 resistance. This symmetrical triangle broke to the upside:

There's that thrust above the $11,200 pivot!



I would bet on another try upwards in the short term, but I think the mid-$11Ks are a very tough resistance area. I'm not convinced it's moon time yet.

[Lucius]

Wrong information is one of the problems in the cryptocurrency space, I came across a thread some time back discussing inaccurate facts posted on one of the popular websites, I believe it was investopedia.

I can completely agree with that, because if we have crypto-related media that should be familiar with what they are writing about (and most of them actually place false or partially accurate information), then what can we expect from the mainstream media that are looking for inspiration for their articles precisely in such sources? Perhaps one of the best examples is Libra, which has completely driven the world's media crazy, so one morning I opened my local newspaper and read the headline "Libra, the Bitcoin killer is coming". A few people I helped with the BTC investment called me that day and were very worried about their investment, some even decided to sell.

Small investors would be more discouraged by such fee spikes which comes with a bull run. Buying $50 worth of BTC and having to pay 10% of that in fees would put a number of people off.

Although we now have a fairly well-adapted SegWit, I think that in the case of the new big bull run fees will again be quite high, because at one point at the end of 2017 they were as much as $50 or more. Not to mention the congestion that will arise because all large crypto exchanges will probably not be able to withstand the pressure on their infrastructure - all in all, this would not be a time when trading is easy or cheap.

[ultrloa]

In my own opinion, I wouldn't transfer my btc to usdt as I can see it will increase in the coming or following days.

That will be the wrong decision to be made since if the prices is pumping up and decide to exchange it with stable coin for sure we will miss the opportunity to earn in this good movement occurring right now and I'd rather wait for more good things to happen since we might gonna see some more, but if there's a sudden movement came and price falls then I will do an action to sell and buy again when the price goes more cheaper.

[beerlover]

Once again bitcoin price skyrockets and at the end of the day this didn't changed much in the market, people assumed that if one small thing happens there will be a big major move depending on it. Like let's say bitcoin moves from 10.5k to over 10.8k and suddenly we are closer to 20k because of it somehow, but that is not how this works at all.

However I understand the logic, people think that if you see a big trend that trend should be doing awesome tricks and moves yet in reality that is not the fact. Let's see what happens next, I say that bitcoin will not make any big moves after this as well, just because it is at 11.3k doesn't mean that it should be going above 12k, I just assume it will be around 11k and 12k and it will not move any below or above those ranges for a while.

[btc78]

Once again bitcoin price skyrockets and at the end of the day this didn't changed much in the market, people assumed that if one small thing happens there will be a big major move depending on it. Like let's say bitcoin moves from 10.5k to over 10.8k and suddenly we are closer to 20k because of it somehow, but that is not how this works at all.

Excuse me mate but When did Bitcoin skyrocket again?yesterday?when the price break 11,000$ again?
Mind checking the Movement for the last 7 days

https://coinmarketcap.com/currencies/bitcoin/

we only Hit $11,400 and this is not rocketing because for the last few weeks we already setting in $10,500-10,800 so nothings new on this one.

However I understand the logic, people think that if you see a big trend that trend should be doing awesome tricks and moves yet in reality that is not the fact. Let's see what happens next, I say that bitcoin will not make any big moves after this as well, just because it is at 11.3k doesn't mean that it should be going above 12k, I just assume it will be around 11k and 12k and it will not move any below or above those ranges for a while.

Only positive is what people want yet not enough to bring the price Skyrocket ,Maybe we need to establish position above 12k first before we can assume another Bull.