Are we ready for the ^POMP^ yet?

[Stedsm]

Since PayPal announced its allowance of cryptocurrencies, BTC soared high towards $13k and I can see that the rally already began for BTC. Is it party time or shall we wait a bit longer? Rally has started, the question is - towards which side? If this news throws BTC down, then let's get ready for another leg down towards $8k and buy BTC cheap? Or shall I buy BTC right now? Is $13k cheap atm and can I go for a 10x leverage position at this price?

[DoublerHunter]

^ https://cointelegraph.com/news/bitcoin-soars-to-12-9k-as-paypal-proves-crypto-is-ready-for-everyone

Is it party time or shall we wait a bit longer?

^ Nah is too early to celebrate and we expected to have a correction right after pumping. From what I have observed in the market, it will always have a dump after it will be pumped in the market. There are too many factors that bitcoin price will down this month and we do hope that the US presidential election did not have an effect on the crypto market. Because if you will ask about the stock market, it was now affected due to the near schedule of the US election. Nevertheless, I believe that bitcoin will hit $15k by the end of this year.

[dothebeats]

I kinda wanna punch myself in the gut since I just sold some coins 4 days ago when the price is just merrily sitting at around $10k. I didn't actually know that something big like this will happen in just a few days, and I still kinda regret choosing to get some of my blades for a maintenance (god I love those swords) rather than just holding the temptation for a little longer. I don't sense that this pump will hold for long since the market, as of now, seems to be overbought by the hysteria caused by PayPal actually announcing this time that they want to work with crypto. I'd rather wait and observe a few days before finally hitting that buy button again if I were you, honestly.

[ultrloa]

Since PayPal announced its allowance of cryptocurrencies, BTC soared high towards $13k and I can see that the rally already began for BTC. Is it party time or shall we wait a bit longer? Rally has started, the question is - towards which side? If this news throws BTC down, then let's get ready for another leg down towards $8k and buy BTC cheap? Or shall I buy BTC right now? Is $13k cheap atm and can I go for a 10x leverage position at this price?

To early to decide on since we don't know the outcome yet if this pump will continue until the next following months so maybe the best decision to do is to hold our urge to buy and wait for something dump/correction before we enter the market. This hype about PayPal will possibly bring more positive output and the one we need to do is to wait for better position.

[stomachgrowls]

Since PayPal announced its allowance of cryptocurrencies, BTC soared high towards $13k and I can see that the rally already began for BTC. Is it party time or shall we wait a bit longer? Rally has started, the question is - towards which side? If this news throws BTC down, then let's get ready for another leg down towards $8k and buy BTC cheap? Or shall I buy BTC right now? Is $13k cheap atm and can I go for a 10x leverage position at this price?

Hardest decision to be made honestly if we do really talk about on accumulating bitcoin at on the current price yet we cant determine if this is just some sort of bull trap or the price had already reached out the peak
and there might be some pullback afterwards.Its hard to tell thats why decision will really matter up to you on how much risk you can put on.

In my case, i had accumulated bitcoin when it do moved sideways between 11400-11700  and its not a bad step to secure out profits and i had already done it in 12700.

Hard part is on to wait for the possible low price to accumulate again and repeat the same process.Is this start of bull run? No one can tell but this Paypal adoption with crypto
is surely a good news for all of us.

Bull run heading towards ATH of 20k? Too far to tell but who knows that we might be seeing these digits once again for this year.

[DustyRah]

As soon as crypto shows up in PayPal portals, all the merchants will clammer to add it to their websites and a whole pack of consumers will but it for speculation as well as purchases etc. This is the boost we need to get off into the 20k and above range.

Not a good time to sell at all!

[Oasisman]

^ Nah is too early to celebrate and we expected to have a correction right after pumping. From what I have observed in the market, it will always have a dump after it will be pumped in the market.

Yep! happens all the time, quick sellers are there lurking around trying to sell at the peak of this pump lol.
A more than 10% gain in a 24 hrs span is something you'll feel grateful of, specially when you're holding a huge bag of Btc. This is something to be feel so excited about on what would be the next Btc movements on the next few days. Nobody should celebrate yet, everyone should be more focus on the price movements on the coming days.
This could be a 2017-ish run or the other way around like the OP said.

[harizen]

If this news throws BTC down, then let's get ready for another leg down towards $8k and buy BTC cheap? Or shall I buy BTC right now? Is $13k cheap atm and can I go for a 10x leverage position at this price?

The decision is something you have to make by yourself. I know you already know what to do, at least, as a long time person lurking in the crypto community and able to witness lots of surprises that happened in Bitcoin during its progress. Depend on how far you anticipate what will happen, then decide what's the best thing to do based on your analysis.

As for me, same approach as before ay any given trend*. If I decided to make a new entry and after analyzing key pointers to my future decision, then I will make a purchase at any price level.

[Wapfika]

As soon as crypto shows up in PayPal portals, all the merchants will clammer to add it to their websites and a whole pack of consumers will but it for speculation as well as purchases etc. This is the boost we need to get off into the 20k and above range.

Not a good time to sell at all!

We will just need to wait a little longer, but wait with monitoring as we will never know when it will drop again, 20k might be a bit too high for only PayPal news there might be something more that will push to pump and some says it can be cause by the election that is about to happen whichever the real reason is we need to take advantage of this time that we will able to sell at high price, just keep monitoring.

[thecodebear]

Just another step up in the continuing long term bull market. 4 digits might be gone for good now, but I'm guessing this rally will be short lived and will settle back in the 12000s for a bit. But I think we are a step up from the summer now, as in I don't see it going back to test $10,000 again, perhaps ever.

[Baofeng]

Since PayPal announced its allowance of cryptocurrencies, BTC soared high towards $13k and I can see that the rally already began for BTC. Is it party time or shall we wait a bit longer? Rally has started, the question is - towards which side? If this news throws BTC down, then let's get ready for another leg down towards $8k and buy BTC cheap? Or shall I buy BTC right now? Is $13k cheap atm and can I go for a 10x leverage position at this price?

Party is here already so I don't think that we need to wait longer. As for the entry, best is during when we have relatively stable at $10K, for me the price is expensive at $13k. So let's see if this rally could pump as high as $13K-$16K. And in your second scenario of a downward spiral to $8K then it's good, we can buy cheap and discounted bitcoin then. I'll just keep holding my bitcoin that's I save and wait for a massive rally next year. It's not that huge, but I guess for now that's enough for me.

[TravelMug]

Just another step up in the continuing long term bull market. 4 digits might be gone for good now, but I'm guessing this rally will be short lived and will settle back in the 12000s for a bit. But I think we are a step up from the summer now, as in I don't see it going back to test $10,000 again, perhaps ever.

We haven't settled for the $12k'ish yet, the price seems to be bouncing around $11,800-$11,900. But I'm still be very cautious about the 4 digits, we might be a sort of bull run, but we will never know, as the market is known to be very unstable. But it's good to see the price reaching at least $12k, but the big test is $13k because we haven't reach that price for a long time.

So a lot of wiggle room for us, we are still in October, a lot can happen in the next two months that will either push the price so something like $14k-$15k, or worst case scenario, a dump to 4 digits again.

[exstasie]

If this news throws BTC down, then let's get ready for another leg down towards $8k and buy BTC cheap? Or shall I buy BTC right now? Is $13k cheap atm and can I go for a 10x leverage position at this price?

A "sell the news" event? Well, there is always the possibility this spike above $12.5K is a B wave in an expanding flat, represented by the middle diagram:



Once the June 2019 highs (the $13,800s) are broken, we can officially rule this scenario out. Until then, the $9,000s aren't completely off the table yet.

If you can't decide whether the market is headed to $8K or $13K, I would avoid taking any 10x leveraged positions.

[Poker Player]

I want to wait and see how the US election ends, these types of events always affect the short term. The fundamentals are good, and this implies a price increase in the medium-long term, see hashrate for example. It seems quite likely that by 2021 we will surpass the last ATH by a long way.

[adaseb]

It was actually strange why bitcoin was rallying and the stock markets were trading sideways or down. Basically makes me think that the Paypal news was leaked a few days ago to a few number of people.

I think we need to secure a close above $12.5K on the weekly to continue this bull trend. The larger issue is if the stock market goes to correct even more since the election is coming up. Then bitcoin can resume its correlation with stocks and begin to dive like it did so many times since this pandemic started.

[maydna]

Since PayPal announced its allowance of cryptocurrencies, BTC soared high towards $13k and I can see that the rally already began for BTC. Is it party time or shall we wait a bit longer? Rally has started, the question is - towards which side? If this news throws BTC down, then let's get ready for another leg down towards $8k and buy BTC cheap? Or shall I buy BTC right now? Is $13k cheap atm and can I go for a 10x leverage position at this price?

I guess after Paypal announced that thing, it could bring fresh air for cryptocurrency, especially bitcoin, to have more support because we know that Paypal has big members.

The answer will depend on your target price. If you make $12k, $13k, or $14k as your target price to sell, you can place an order at that price, so you don't miss the chance to sell bitcoin. But if you want to sell bitcoin at more than $19k, you need to be patient because the bitcoin price does not yet touch that highest price.

If the bitcoin price is down again towards $8k or another down price, you can buy more bitcoin, but once again, that will depend on you. We can suggest you buy bitcoin every time the price is down, but only you will know your funds' conditions. Think twice, and analyzing deeper will be the solution for you before you decide to repurchase bitcoin.

[pooya87]

Since PayPal announced its allowance of cryptocurrencies, BTC soared high towards $13k

price was already heading towards $13k for a couple of days now. this news was only a tiny catalyst!

and I can see that the rally already began for BTC.

i'd argue that the "rally" started a long time ago and had some obstacles on its way that is why it has been slow. right now it is still slow but it is gaining speed. that is why it may seem like it was just started.

Is it party time or shall we wait a bit longer? Rally has started, the question is - towards which side? If this news throws BTC down, then let's get ready for another leg down towards $8k and buy BTC cheap?

make up your mind
if you claim this news  was positive then it can not cause any drops! although as i said this news was too tiny. the trend has already been upwards.

[davis196]

Since PayPal announced its allowance of cryptocurrencies, BTC soared high towards $13k and I can see that the rally already began for BTC. Is it party time or shall we wait a bit longer? Rally has started, the question is - towards which side? If this news throws BTC down, then let's get ready for another leg down towards $8k and buy BTC cheap? Or shall I buy BTC right now? Is $13k cheap atm and can I go for a 10x leverage position at this price?

I think that the FOMO phase started a few days ago and everyone,who wants to buy BTC has to act quickly.
On the other hand,I don't believe that this price growth will be sustainable in the long term.The price will eventually crash and most of the traders will start panic selling at some point.Anyway,short term profits can be gained,if we act smart.
If we try to ignore the news about Paypal,there's no other force that helps for pumping the Bitcoin price.

[sunsilk]

I wouldn't go for any leverage as that's not my expertise. You need to determine yourself if you can bear the risk that it has. The decision lies within you. Whether bitcoin soars to $14k or goes back to $8k.

Think which side you are. The short term side or you are one of those investors and long term holders that are decided to hold until we see such unexpected high prices. Buying at today's price will always depend how you look at the market. It can be early before the take off or it's too dangerous as we're just pumping.

[ultrloa]

Since PayPal announced its allowance of cryptocurrencies, BTC soared high towards $13k and I can see that the rally already began for BTC. Is it party time or shall we wait a bit longer? Rally has started, the question is - towards which side? If this news throws BTC down, then let's get ready for another leg down towards $8k and buy BTC cheap? Or shall I buy BTC right now? Is $13k cheap atm and can I go for a 10x leverage position at this price?

I think that the FOMO phase started a few days ago and everyone,who wants to buy BTC has to act quickly.
On the other hand,I don't believe that this price growth will be sustainable in the long term.The price will eventually crash and most of the traders will start panic selling at some point.Anyway,short term profits can be gained,if we act smart.
If we try to ignore the news about Paypal,there's no other force that helps for pumping the Bitcoin price.

It's expected since there are so many little dump happened after a good pump came and I see this pretty normal, but what most important there is it reach for $13,000 which people doesn't imagine that it will came by now and a high chance that we can see more since even at this moment the price is nearly coming to $13k figure again so might we will see the $14k on next month.