The price of bitcoin may go bull soon

[aoluain]

There have been big sell-offs both in February and March. These were timed to coincide
to trigger the short sellers on the futures trades markets.

I dont know about market movement indicators because I dont trade but if we simply
follow PlanB's STF chart we will be breaking up in the next week or two.

https://digitalik.net/btc/#

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[adzino]

This is not a certainty but a means bitcoin price can be predicted. Whales and many holders have sold bitcoin since February, the number of addreses holding 1000 bitcoin reduced by 10% till now, and data have revealed that whales have stopped selling because the numbers of addresses holding 1000 has not been decreasing unlike from February, also long-term bitcoin holders are no more selling like before, the rate of selling has slowed down. Miners have turned into accumulation again just like when such bull market was predicted last in March. Lastly what makes me think this can result to bull market is because institutions are still in high demand for bitcoin.

https://cointelegraph.com/news/5-key-reasons-why-bitcoin-will-likely-see-new-all-time-highs-soon
Weekly ascending triangle close to a break
Since the beginning of February, a weekly ascending triangle has formed. Statistically, this chart pattern gives a higher likelihood of breaking to the upside than to the downside.

If the price were to break to the upside, the size of the triangle suggests a potential breakout target toward $79,000. While neither the break to the upside nor the price target is a certainty, it is a chart worth keeping an eye on alongside major on-chain

What is your say on this? As for me I think bitcoin price may likely still increase soon?

There are whales that spread out their bitcoin or any other coins in different wallet address, you know that right? They don't want to be holding 1000 bitcoin in one wallet and then unfortunately lose that only wallet. You can never know exactly who is holding how much bitcoin. And are you sure the volume of coins being held in a single wallet is actually a good way to predict the market? I don't think so. If that was the case, whales could easily manipulate the market by just messing with the volume of coins they hold on different wallet address. But who knows, you might be right. A bull market might be coming soon, but I wouldn't prefer that. At least not now.

[kopijos]

based on the analysis of many parties and supported by trading charts from the previous year bitcoin has an increase and is still potential, it's just how many percent of the increase in May cannot be predicted. whether it can experience a significant increase or only a few steps. we wait in May

[nebuch]

I don't know if the prediction to hit $100k this year is real. What I know is everything seems possible to reach in due time. Assuming the target price this year is $100k, then the sideways are just temporary. The up trends may continue despite of the temporary pullback. Bitcoin is one of the best investment now that even institution are into it. Although risky, but the profit is much better than banks.I do believe we can witness new all time high again.

[Movingcrypt]

Long-term/big-holder's are selling part of holdings, it's a normal practice, you don't expect them to hold to infinity do you?

If you can sell from your holdings, why won't they? They are humans with needs too

[isaac_clarke22]

Still we are not sure yet though.
Maybe 80k would be next ATH we will look upon soon?
I felt that a lot sold off previously actually especially when it liked plummeted back a bit below 50k.

[Golftech]

There have been big sell-offs both in February and March. These were timed to coincide
to trigger the short sellers on the futures trades markets.

I dont know about market movement indicators because I dont trade but if we simply
follow PlanB's STF chart we will be breaking up in the next week or two.

https://digitalik.net/btc/#

Still speculation but it's indeed a  good mindset to continue holding your assets, there's always

a good chance that the market will continue to move forward, for sure big hloders are here to

attract more new investors, playing once in a while will give them enough time to make a good

entry, bringing more strong holders difinitely impacts the whole market.

[Shasha80]

If it is true the results of the research you have done, that whales have stopped selling Bitcoin now and there is still high demand for institutions
to buy Bitcoin. Of course I totally agree that the Bitcoin price will go up again, but the problem has been since the Bitcoin price hit ATH at $ 61k.
Then after that it experienced a correction, and until now Bitcoin has had a very hard time passing the resistance price at $ 60k. Even a few days
ago Bitcoin has managed to go up to the price of $ 59k, but now it's back down to the price of $ 57k again. So my prediction this April is the possibility
that Bitcoin will side away at a price of $ 56k - $ 59k. And provide the opportunity altcoins to pump.

[Shubanand21]

Phemex Exchange offers best user interface and customer support as online instant chat feature which is best in Market compared with other exchanges as needed Charts/BID/ASK prices etc.with Staking options available

But a lot of improvements needed to be a future platform as More Crypto Coins needs to be added in Spot/Contract
trading.
More Coins Staking with Fixed/Flexible options Needs to be added.
And Direct Bank transfers/Withdrawls need to supported for more Countries.

Hope Phemex do and improves and become future Trading Platform.

[acdc]

Everything can happen to Bitcoin, it can go up or down based on a rumor that no one can predict.
Ideally everyone should be cautious if they want to invest in the present time.

[J1mb0]

Those who hold it for the long-term will surely do well.

With the same opinion, I think the price of Bitcoin will increase over the next 5 years.
I am trying to hoard Bitcoin for my long-term plan, hopefully I'll have good luck.

[pankowri]

In last month Bitcoin go slow for some reasons but recent Elson and Tesla declared to allow Bitcoin as a payment method. So it may enhance the admittance of Bitcoin to others and it has some likelihoods to go bull soon. While the market is short if anyone buys Bitcoin can formulate a profit hastily and the probabilities are high.

[peter0425]

This is not a certainty but a means bitcoin price can be predicted. Whales and many holders have sold bitcoin since February, the number of addreses holding 1000 bitcoin reduced by 10% till now, and data have revealed that whales have stopped selling because the numbers of addresses holding 1000 has not been decreasing unlike from February, also long-term bitcoin holders are no more selling like before, the rate of selling has slowed down. Miners have turned into accumulation again just like when such bull market was predicted last in March. Lastly what makes me think this can result to bull market is because institutions are still in high demand for bitcoin.

https://cointelegraph.com/news/5-key-reasons-why-bitcoin-will-likely-see-new-all-time-highs-soon
Weekly ascending triangle close to a break
Since the beginning of February, a weekly ascending triangle has formed. Statistically, this chart pattern gives a higher likelihood of breaking to the upside than to the downside.

If the price were to break to the upside, the size of the triangle suggests a potential breakout target toward $79,000. While neither the break to the upside nor the price target is a certainty, it is a chart worth keeping an eye on alongside major on-chain

What is your say on this? As for me I think bitcoin price may likely still increase soon?

There will be more and more same News this 2021 about the increase of Bitcoin because this is what they said a Bull Year and the Reflection of what happens in 2020 as the market really falls bad because of pandemic.
So i assume that there will be 100k $ target this year and might grow more if the trend continues.
look at the stable price of bitcoin from 56k-59 up to now.

[Expecto]

We've seen another correction in the Bitcoin price and it went down to 55k dollars yesterday. I guess a big selling happened and it caused the correction. I also am waiting for another go-to-the-moon situation soon. We could see the price over 70k dollars, imo.

[pawanjain]

This is not a certainty but a means bitcoin price can be predicted. Whales and many holders have sold bitcoin since February, the number of addreses holding 1000 bitcoin reduced by 10% till now, and data have revealed that whales have stopped selling because the numbers of addresses holding 1000 has not been decreasing unlike from February, also long-term bitcoin holders are no more selling like before, the rate of selling has slowed down. Miners have turned into accumulation again just like when such bull market was predicted last in March. Lastly what makes me think this can result to bull market is because institutions are still in high demand for bitcoin.

https://cointelegraph.com/news/5-key-reasons-why-bitcoin-will-likely-see-new-all-time-highs-soon
Weekly ascending triangle close to a break
Since the beginning of February, a weekly ascending triangle has formed. Statistically, this chart pattern gives a higher likelihood of breaking to the upside than to the downside.

If the price were to break to the upside, the size of the triangle suggests a potential breakout target toward $79,000. While neither the break to the upside nor the price target is a certainty, it is a chart worth keeping an eye on alongside major on-chain

What is your say on this? As for me I think bitcoin price may likely still increase soon?

As you say the number of bitcoin addresses holding more than 1000 BTC has decreased lately, the bitcoin dominance has also decreased lately and the BTC volume also shows that there has been a sell off indicating the weak hands are gone. If bitcoin holds at the current price level then we might see a bull run soon as new traders buying bitcoin will start a bull run. I might be wrong but I believe this is how bitcoin will be starting a bull run towards 100k target.

[DarkDays]

Well, to the discussion at hand, I believe the bulls are already exhausted and getting ready for retirement so that the alts rally can set in. Just check the total market cap dominance and you will see that Bitcoin has been dropping since this month. I think its dominance stands at 54% now as against around 65% or so it was a few months ago. The more the dominance diminishes the more investors are transferring cash to buying alts. So, we're likely going to see alts surge in weeks to come from now.

You're right, BTC dominance has dropped to 53.8% and it is likely this drop will continue. But I do agree that more institutional attention and subsequently investment into BTC is helping with wider-adoption. 

As for alts, they have been on a rally for quite sometime. It is true that the window of opportunity is still open but who know how long for. Despite this, I'd like to point out that the crypto industry has grown massively in the past few months and that naturally leads to more attention from regulators, governments, and for profit- organisation - so, I say we're heading in the right direction 

[sapnu]

Bitcoin has been bullish for a long run already ever since it broke the expectation of people which is $20k and has gotten nearer to the $60k possible new all time high. As of speculations and predictions, many are indeed saying that another bull run may take place considering the demand of large institutions worldwide on bitcoin. This should already open up people's mind upon planning to buy and hold whilst waiting for the bull run to take place once again and hit another all time high. It might be risky knowing we can't really predict what would happen in the future specially when it comes to bitcoin.

[pixie85]

I thought we reach already the very peak of this Bullish season for Bitcoin?
I was thinking now for possible dumps but just to look into that indicator, isn't over yet. But, I don't give the fullest expectation to that, it is just because I don't want to get disappointed just like having a feeling of last 2017 bullish ends. We are expecting a lot for that time but that all be gone when a drastic downfall comes next to it and many were not prepared for the said drops.

I keep believing that the market is really unpredictable and that neither thinks that it will happen even there is stable market demand. Or even they have shown it right twice.

What made you think that it's the end? You haven't given any reason.

As far as I know, bull cycles end with a bang. We reach a certain point that is so overbought that people are just waiting for any sign of weakness to dump it all. They don't want to stay in 50/50. We could see that in 2013 and in 2018. The price was so overextended that when the selling begun there was almost no buy orders on the way down, just empty space into which people were selling, making the price go -30% in a matter of hours. For something like that to happen we'd go to 60 thousand and back to 40 in a day. We were very close to this in February, but since then we had a new high and a much smaller correction which is a bullish sign. I think that we might have another shot at a new high.

[Bilgent]

After a correction on the price of Bitcoin, it started to increase again and has reached $57k now. Bitcoin is actually still in a bull market but we just don't see another ATH yet. Altcoin season is going on for now and it doesn't seem like Bitcoin will reach a new ATH very soon.

[aoluain]

something else to bear in mind, the U.S TAX deadline has been pushed out to May 17th.

Extended deadline
On March 17, the Treasury Department and Internal Revenue Service announced that the due date for individuals filing federal income taxes for the 2020 tax year has been extended to May 17.

Source: https://www.google.com/amp/s/amp.usatoday.com/amp/4840997001

Would this mean a lot of people are selling now to pay taxes and that after
May 17th we will see a surge in buying for the start of a new TAX year.

Is this a realistic scenario which could fuel the next phase of this bull cycle?