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rhomelmabini
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December 10, 2020, 09:46:05 AM |
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Not that too optimistic but that volume was a nice one and I wouldn't be worry to still hold long as I know that this was an expected correction. Still remain bullish until we get the new resistance and support breaking the past ATH. |
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BLU (OP)
Newbie
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Activity: 41
Merit: 0
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December 10, 2020, 10:05:43 AM |
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I expected a deeper correction but I guess not which is a strong bullish sign.
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boyptc
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December 10, 2020, 10:49:54 AM |
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I expected a deeper correction but I guess not which is a strong bullish sign.
How deep is that correction that you're expecting? isn't it the one that we're experiencing lately? The bulls are strong this time even if there's a market correction that we had. More good news that we're expecting to come and if a sudden correction comes. How much do you think is the price when it comes? |
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suzanne5223
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December 10, 2020, 10:52:25 AM |
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Not that too optimistic but that volume was a nice one and I wouldn't be worry to still hold long as I know that this was an expected correction. Still remain bullish until we get the new resistance and support breaking the past ATH. As said by the OP, the bullish market is real but the new institutions that joined cryptocurrency investment particularly the trading activities executed on Paypal are the cause of this during the market dump in price cause what we are seeing in the market is not just a correction but manipulation. |
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rhomelmabini
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December 10, 2020, 11:12:03 AM |
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As said by the OP, the bullish market is real but the new institutions that joined cryptocurrency investment particularly the trading activities executed on Paypal are the cause of this during the market dump in price cause what we are seeing in the market is not just a correction but manipulation.
There will be manipulation of course considering market cap wasn't that huge yet and there are still who owns large amount of bitcoins, it's easy to manipulate such market plus it wasn't that yet regulated to it's full extent. By the way, OP never said something about the manipulation it's you who brought it up can you link me about this case, is this something you've read on the web? Please and thanks in advance. |
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Oshosondy
Legendary
Offline
Activity: 1624
Merit: 1201
Gamble responsibly
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December 10, 2020, 12:02:36 PM |
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Trading volume should not only be used to determine if bullrun will occur or not, there are many other factors to be considered before determine bullrun. Other factors like the address holding more than 1 btc increasing or not, whales still holding or sending there bitcoin to exchanges, also the resistant level of bitcoin price and some other factors should be considered before we can determine if there will be a bullrun. |
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bassbity
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December 10, 2020, 01:46:31 PM |
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I expected a deeper correction but I guess not which is a strong bullish sign.
a correction that is bigger and exceeds resistance? I think it is very difficult, although it does not rule out. but do not hope enough without an action to take effect. bullish movement with various market demands, and vice versa. then we can see, how the correction is taking place, to gather even more strength |
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suzanne5223
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December 10, 2020, 03:35:32 PM |
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As said by the OP, the bullish market is real but the new institutions that joined cryptocurrency investment particularly the trading activities executed on Paypal are the cause of this during the market dump in price cause what we are seeing in the market is not just a correction but manipulation.
There will be manipulation of course considering market cap wasn't that huge yet and there are still who owns large amount of bitcoins, it's easy to manipulate such market plus it wasn't that yet regulated to it's full extent. If we consider the last year's market cap to the current, we can say the market cap is enormous and the private investment companies seem to be the large holder of Bitcoin but regulating the market has nothing to do with the prevention of manipulation. By the way, OP never said something about the manipulation it's you who brought it up can you link me about this case, is this something you've read on the web? Please and thanks in advance.
The never brought it up but manipulation is among the peculiarities that are disturbing the market ATH and it is not that i read an article about but it was something said on Reddit by a user who explained the major activities of new crypto investors that invested in crypto through Paypal. |
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el kaka22
Legendary
Offline
Activity: 3696
Merit: 1170
www.Crypto.Games: Multiple coins, multiple games
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December 10, 2020, 04:52:04 PM |
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It has always been real but this was November and December looks to be a bit different. Plus volume doesn't always mean higher prices, it just means more trading and that could turn out to be something bad for us as well, maybe there are tons of people selling right now? And price is barely hanging on thanks to the buyers? That is why we should be careful about this otherwise we are not going to really make as much money as we think just looking at the volumes.
Most probably November volume was about increasing price, but December prices looks to be not doing anything at all, it drops a bit but not too much so we can't say we are in a bear market right now, but that bull which increased the price and even broke over the ATH after 3 years seems to be gone for now.
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palle11
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December 10, 2020, 07:39:31 PM |
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It has always been real but this was November and December looks to be a bit different. Plus volume doesn't always mean higher prices, it just means more trading and that could turn out to be something bad for us as well, maybe there are tons of people selling right now? And price is barely hanging on thanks to the buyers? That is why we should be careful about this otherwise we are not going to really make as much money as we think just looking at the volumes.
Most probably November volume was about increasing price, but December prices looks to be not doing anything at all, it drops a bit but not too much so we can't say we are in a bear market right now, but that bull which increased the price and even broke over the ATH after 3 years seems to be gone for now.
About the November and December analysis, I think you are right for that. We experienced a high volume trade in November and now in December, it looks like less volatile and dropping. If we look back also in in 3 years ago, the same kind of trade pattern looks as if it is happening for this two last month and I may not be very surprising if it drops more in late December when most people may have done their shopping stuffs  |
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Kupid002
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December 10, 2020, 08:35:51 PM |
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There is no question about that thas why we break the ATH because of the help of that volume and many investors is having interest buying bitcoin or trade other crypto currency .there are more to come since there are a lot of good news will come before the year ends. I'm still positive that we can make the 20k mark this December . |
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so98nn
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December 11, 2020, 05:28:49 AM |
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Not that too optimistic but that volume was a nice one and I wouldn't be worry to still hold long as I know that this was an expected correction. Still remain bullish until we get the new resistance and support breaking the past ATH. Past ATH? We have already broken the resistance mate and its completely new era now for the bitcoin. Currently bitcoin is not in the correction, its just in newest trend of new prices. May be bitcoin will seriously hold this price and we will have trade it likewise from now on-wards. Moreover, get this, we dont need those corrections really, since it creates chaos of panic sell and thus breaking it to worst pricing. Just don't like that one really. I expected a deeper correction but I guess not which is a strong bullish sign.
Yes, we already had it. No more needed.  |
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BTCXRPADA
Newbie
Offline
Activity: 97
Merit: 0
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December 11, 2020, 06:07:03 AM |
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A good amount of that is most definitely wash trading, so don't get too excited when you see those numbers lol. A record high percentage of the total trading volume has moved to DEX's primarily Uniswap. Uniswap has a lot of limitations though, which sucks a LOT. Some of these limitations is gonna be solved by Blocknet. More info here: https://cointelegraph.com/news/decentralized-exchange-vows-to-remove-defis-limitations |
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