Bitcoin is recovering

[kentrolla]

Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?

[DarkDays]

Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?

It might just be setting the momentum for December. Historically, December has always been a time where the markets were in green, of course now it's a little different since adoption went the way since same time last year but these patterns tend to repeat themselves.

Let's see how it plays out, hopefully reaching that new ATH and BTC closing in on that 100K. It is not all that crazy could easily happen

[Vaskiy]

Morning my inner mind said the price is gonna rise. I've experienced it many times. Whenever I cashout bitcoin the price used to grow. Today I sold when the price was around $57k, and then on the price has increased and now it is around $59k. As mentioned in the previous quote, it is the momentum for the December month. Everyone are hoping for a crazy $100k, but this time it doesn't work. If I'm not wrong the price will decrease by the falling year and we could touch $100k by 2023

[NeuroticFish]

What's your opinion

First thing to say is that this would belong to Speculation and maybe it would be a good idea you move this topic there.
Second, many TA people on twitter say that we had a falling wedge and the breakout is starting.

Although there were quite some loud signals to spread fear - unrealistic (imho) expectations on the MtGox bitcoins getting returned fast and dumped, the fake news about Bitcoin ban in India - the expectations from the price are high. Far too many expect 100k. And with the electricity getting more expensive in many areas of the world, I expect Bitcoin price will rise.

But I will be fair: I don't know what's next. Bitcoin price loves to go up-and-down-and-up-and-down-again.

[livingfree]

Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?

It is typical.

We all are going to see the same of such move for bitcoin. If it came from a correction, eventually, it will recover. As for the new ATH, we don't know.

As long as it gets to recover and that's already good to me.

[Accardo]

Bitcoin is the new Santa Clause. What I think about bitcoin is, bitcoin will move up before the end of 2021 and will fall back to 50k in the beginning of February the Chinese Holidays. Because for some times now, I have been judging Bitcoin from past Experience. Throwing back to 2017 when Bitcoin made an All time High of 20k and slacked back to almost 8k was because of the Chinese Holidays. But, since the ban of Bitcoin In China, their holidays didn't affect Bitcoin plentifully anymore.

However, this recent times that a lot of individuals both rich and average are investing and trading on bitcoin. I strongly believe that Bitcoin will hit $75k after Christmas and will soar high again around 78k but definitely will fall back to 50k dollars before March 2022.

The cause of these can be said to be that it's a season of giving so a lot of people will have to sell their assets.

[LFC_Bitcoin]

I think we need to get through the weekend & see where we are middle of next week. It’s a national holiday in the US, Black Friday tomorrow too. A lot of disruption to peoples usual investing behaviour. Things will be coearer next week. Hopefully the bull run can go again.

[TravelMug]

Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?

Been hearing this a lot that this is another case of bull trap. However, the price just seems to move sideways and then we have a break out run in the last 24 hours.  Maybe it's because we are in a holiday that's why the price goes up a bit, contrary to those who think that there will be a sell-off because people needed money in this time.

Nevertheless, this is a good sign that as we enter a historically bullish December, this might be the start of something big.

[Welsh]

ar too many expect 100k. And with the electricity getting more expensive in many areas of the world, I expect Bitcoin price will rise.

But I will be fair: I don't know what's next. Bitcoin price loves to go up-and-down-and-up-and-down-again.

I think it's unrealistic to expect Bitcoin to hit 100k anytime soon, and by soon I mean around the 6 months mark. What I'm more interested in is monitoring how Bitcoin reacts in accordance to Ognasty's thread. While I don't believe correlation equals causation, the negative news around Bitcoin recently, whether it was fake or not probably has had a impact on the recent dip in price.

However, this recent times that a lot of individuals both rich and average are investing and trading on bitcoin. I strongly believe that Bitcoin will hit $75k after Christmas and will soar high again around 78k but definitely will fall back to 50k dollars before March 2022.

Is this based on an observation you've made or is it just a personal hunch that you think it'll go temporarily up, and then crash later in March 2022? Seems oddly specific to be just a hunch.

I think we need to get through the weekend & see where we are middle of next week. It’s a national holiday in the US, Black Friday tomorrow too. A lot of disruption to peoples usual investing behaviour. Things will be coearer next week. Hopefully the bull run can go again.

People buying useless garbage instead of buying Bitcoin?! The madness!

[Reatim]

Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?

finally after few days of dumping ? we are seeing a Greed color in the market specially Bitcoin



hope this is not another Trap  and we will be able to see another ATH as December is under a week to come and the Deciding month will happen.

BTC to the MOON.

[Sayeds56]

Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?

True. The Bitcoin started Friday with green candle few hours back and hopefully we will close day candle above 60K that will be very healthy sign for further upside of Bitcoin. The monthly chart of November is also positive because it is still above 57K which is pivot point on Monthly chart. The next likely resistance on this chart is at 71K which means new ATH. despite depressed Bitcoin market during the past weeks, I am still optimistic that we will close 2021 with new ATH.

[Dhaniii]

a few days ago bitcoin experienced a slight correction in the market price after reaching a high of $68k two weeks ago. now that bitcoin has recovered and has started to bounce back, could this be an early start to enter December with a new ATH or stay between $60k - $70k in early 2022.

[amishmanish]

If you see the way a lot of other Alts have behaved during the cycles in the last few months, it is clear that a lot of them have formed their own communities and have their own different markets that are hardly dependent on Bitcoin anymore. This is a trend now and will only increase with time. In previous times, pumps in Alts used to lead to an increase in BTC usage too. This is starting to change.

Bitcoin will now tend to move more and more on its own fundamentals, which are stronger than ever. This also means that the hyping and pump-dumps would be recognized more easily. Atleast, that is what i hope.

There are enough products, enough teams and avenues to build on the crypto economy. There is still a conspicuous absence of Bitcoin based products to capture the user base of this new economy as they are mostly dependent on Smart contract abilities. I am not sure if that is a good thing or a bad thing, in the long run.

[Poker Player]

I am not surprised that the op's nick contains the word "troll".

Sorry not to be so optimistic, I don't see the price as "recovering". I think it was up 4% yesterday, which is normal variability for Bitcoin, and in the last 24 hours it is flat. Just as I didn't think we were in a bear market because of the recent slight decline. I think we are in a kind of sideways, what happens is that many of us expected to be higher now, and many predictions estimated that.

[cryptoaddictchie]

Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?

Really hard to predict cause sometimes the market eventually surprising everyone that reverse the result of technical analysis. Yes we love the bull run season, but continuing it like a non stop wheel its not also healthy it could lead to market crash once those high profile realize they wanted some profit, cause their liquidity is the whole market. So they can crush this anytime given the fact that bitcoin supply is a factual data and we know there are some whales could hurt it eventually.

[davis196]

Bitcoin isn't "recovering" because there wasn't any serious price crash happening before the price "recovery" you are writing about.
A true price recovery would be Bitcoin going back to 60K after a 40-50% price crash down to 30-40K USD.
The price doing up from 56K to 60K is just price volatility,rather than a price recovery.
Let's see what happens next week.
A couldn't care less about altcoin prices at this point.They are just following the BTC price,so we can't use them to draw any conclusions about the future of the cryptocurrency markets.

[pooya87]

It is more precise to say that the FUD ended and the panic sellers ran out of bitcoins to sell so the fake sell pressure that is slowly going away is letting the natural upward movement to resume once again. Unfortunately due to existence of day traders it would take some time to go back to normal and resume the rally but it will happen.

[pawanjain]

Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?

Even I saw bitcoin at $59k few hours back but right now it is at $57.5k. So we can't really say if it is actually recovering or not.
The price is very volatile which is expected. Also, there is a strong resistance at $60k level so may be that's why it fell back to $57k range.
May be in the next few days it will retest the $60k level and this time it might break that level and stay above that price.
I am feeling bullish though. I hope the next month should be good for crypto users.

[Anonylz]

But today is a totally different story, btc dropping in price same as alts of course, panic sellers doing what they always do, btc always take people by surprise, when you think the about is stable and ready for another pump suddenly things will go different, let's hope btc gives a nice green surprise in December.

[michellee]

I still see that bitcoin was increasing little by little after the last dump a few days ago. The price does not yet move to any higher or lower price but it seems steadily stay at $56k-$59k range of the price but we are almost seeing a new month so hopefully, that can change the market situation to better. If in the next month, bitcoin price can break $60k, that will be a good sign for the price to continue increases and who knows, the price can make a new ATH before the end of this year. I am still preparing myself by buying more bitcoin and altcoin because sooner or later, bitcoin or altcoin can increase so that can be my time to sell some amount at the new ATH.