Bitcoin bull run 'getting interesting' as BTC price hits 6-week high

[savetheFORUM]

But could anyone confirm the bear market is over? By what I  mean is that is the price not going to drop below 17K anymore?

When the speculators published some postsaboutBTC going below $17k weeks ago, there must have been holders dumping in anticipation of that next support to break. 6 Weeks of uptrend seem a go signal to buy for me.

I think to be able to say that we are out of the bear market, we need some validations, maybe in the range of $40k-$50k. At least that is more than 50% of the lower low of $17k.

So it's a long way to go for us, we barely made it to $25k in this last small runs in the last week or so. And we can say that we are still not out of the woods yet, we need to progress more to the price that I mentioned. So we will have to wait and see, we still have 5 months to improved the price.

For me, I will only say that we are out of the bear market if the price recovered from the last ath and that was 69k or higher than it. If only the price didn't fall this low but it only fall on 40 to 50k then you can say that fall was normal and not considered as a bear.

There is no rule which states that the bear market should end within this last 5 months, so it's pretty fine even if the bear can last till next year or so but like everyone else I also believe that after the halving takes place, the price will start to improve dramatically. That should be our last and only hope if any other attempts fail. It's going to be a long wait but no one is forced to do so.

[OgNasty]

I don't know if I'd say it's getting interesting, but the moment we've all been waiting for is quickly approaching.  Once the mtgox coins are distributed and we see which direction the market chooses to go, that's when things will maybe become exciting.  It does feel like the market has turned a corner though from the recent major liquidations and is in recovery mode.  For me, I'm still curious about what will happen next month and it will most definitely be interesting once those mtgox coins hit the market.  Hopefully from there it's excitement on the way to euphoria in another 2.5 years.

[adaseb]

Bitcoins rally I would say is weak to say compared to alts or ETH. However this rally is not a surprise. This is basically due to the fact that Bitcoin follows risk on assets like stocks and risk on assets have bottom when the bond markets have reversed.

Basically bond market traders know that the fed will ease on its rate hikes in 2023, and there is a good chance it might cut them. I think the hint was the lower oil prices. And it means inflation has peaked and hence why Bitcoin and everything is rallying.

[Fara Chan]

When viewed from the market trend, bitcoin is experiencing a price increase for now, the price increase is not too big, but compared to last month, now the increase is better, investors are starting to increase to enter the market, but we should not be stuck with this condition, because it is not there are signs of a long lasting bullish trend and able to maintain the positive trend, so stay alert until the recovery goes back to normal

[peter0425]

When viewed from the market trend, bitcoin is experiencing a price increase for now, the price increase is not too big, but compared to last month, now the increase is better, investors are starting to increase to enter the market, but we should not be stuck with this condition, because it is not there are signs of a long lasting bullish trend and able to maintain the positive trend, so stay alert until the recovery goes back to normal

There are still no interesting situation in crypto market now, looking at how the market move now?

https://coinmarketcap.com/

I don't know if we are going to buy this claim ? a 6 weeks high ?

hope that it will happen in the coming days because what w have now are still a BS manipulated and wont come in big outcome .

[Republikcoin.com]

When viewed from the market trend, bitcoin is experiencing a price increase for now, the price increase is not too big, but compared to last month, now the increase is better, investors are starting to increase to enter the market, but we should not be stuck with this condition, because it is not there are signs of a long lasting bullish trend and able to maintain the positive trend, so stay alert until the recovery goes back to normal

Compared to last month, it's clear that this month is better than before and tomorrow is the start of another new month for Bitcoin and everyone, so I hope the price of Bitcoin can be much better than this month. Investors who are starting to enter the market again should also not be considered a positive thing because they may enter the market to sell existing Bitcoin assets and then disappear again from the market.

[Zanab247]

This is a sign that people will soon experience bullish season in the community soon, because the green light is preparing to be stable for those that bought Bitcoin at low rate to get ready to achieve massive income from their investment. I believe, we are still in bearish season which is the best season for people to buy Bitcoin and hold for the price to move higher before they can supply to market to make a passive incomes from the market. Since the Bitcoin price is still between $22k and $23k, showed that the price will definitely hit $52k next month for long term traders to achieve good reward from their investment.

[lionheart78]

It may be early to say that this relief rally would be the spark of the Bitcoin Bull run but the news is kinda positive today.  Considering this 6 weeks-high is the best rally of Bitcoin since the 2021 ATH^[1].  News site like Cointelegraph is broadcasting positive sentiment news even stating that the sentiment exits the fear zone^[2].  I believe we need more positive news like this and more institutional investors to support the market demand in order for the market trend to transition into a Bull market else we are just experiencing relief rallies during the bear market and is too early for a bull market celebration.




[1] https://cointelegraph.com/news/bitcoin-due-one-of-greatest-bull-markets-as-july-gains-circle-20
[2] https://cointelegraph.com/news/bitcoin-price-eyes-24k-july-close-as-sentiment-exits-fear-zone

[Oceat]

This is a sign that people will soon experience bullish season in the community soon, because the green light is preparing to be stable for those that bought Bitcoin at low rate to get ready to achieve massive income from their investment. I believe, we are still in bearish season which is the best season for people to buy Bitcoin and hold for the price to move higher before they can supply to market to make a passive incomes from the market. Since the Bitcoin price is still between $22k and $23k, showed that the price will definitely hit $52k next month for long term traders to achieve good reward from their investment.

Nah, when Bitcoin is in bearish season, afaik it's too rare to see a pump that would reach of what you just set as price since it didn't happen yet. But I'm sure in the next bull run $52k might be the new support while BTC is in a trance of pumping, $100k might be the resistance.

Anyway, this sudden pump in the market is just normal since I've seen this in the past already and this looks like a bull trap, which means the whales or whoever was pumping the market trying to make the trader to FOMO that would lead them to buy the highest price then the market will suddenly decline and it would stress some traders that most of them won't just hodl their accumulated BTC because they were starting to panic and end up selling low.

[STT]

Sadly its not launching in time for my end of month bet, kinda typical.   Maybe it can falter but recover this week otherwise I expect it was all a bit of a wind up and we have to do a loop and repeat prices in low 20's before attempting properly higher.
  Back below 2 day average, lost that fast momentum and if we fail below 22750 and keep a 4hr bar below then its compromised 'the dream' scenario.   Assume full gloom any lower then 21k closing as this negates higher lows bullish argument.

[serjent05]

Anyway, this sudden pump in the market is just normal since I've seen this in the past already and this looks like a bull trap, which means the whales or whoever was pumping the market trying to make the trader to FOMO that would lead them to buy the highest price then the market will suddenly decline and it would stress some traders that most of them won't just hodl their accumulated BTC because they were starting to panic and end up selling low.

Is it possible that the current relief rally is due to the finished selling of Bitcoin by Tesla and Finland?  As we observed before this six-week high, Bitcoin somehow dipped to as low as $17k, if I am not mistaken probably those times are the time when these two huge sales are being executed.  And now that they are done with the sales, the Bitcoin price recovered because there is no more added pressure on the resistance wall.

I don't think this is a bull trap, I think it is natural for the price to recover if there is less pressure from the selling side.  Besides if we look around the news today, they somehow have a positive sentiment.  But regardless even if investors buy today, Bitcoin price will definitely surge when the market becomes bullish.  It would be a good thing if FOMO hits today and make an early trigger of the bull market.

[Fara Chan]

There are still no interesting situation in crypto market now, looking at how the market move now?

https://coinmarketcap.com/

I don't know if we are going to buy this claim ? a 6 weeks high ?

hope that it will happen in the coming days because what w have now are still a BS manipulated and wont come in big outcome .

The market movement is experiencing a good trend, although it has not fully recovered for now, not only talking about profits, but the market reaction at least makes us more enthusiastic to come back, and I'm also not sure this month will produce big profits

Compared to last month, it's clear that this month is better than before and tomorrow is the start of another new month for Bitcoin and everyone, so I hope the price of Bitcoin can be much better than this month. Investors who are starting to enter the market again should also not be considered a positive thing because they may enter the market to sell existing Bitcoin assets and then disappear again from the market.

At least the bitcoin price movement has started to change, this is what some people in crypto have been waiting for, the difference between last month and now is not that big, the price increase is not that far and I don't see investors going into the market to sell some of the bitcoins they own, because this is still quite early to release assets, considering the current selling price has not provided a profit for investors who buy bitcoins above the current price.

[peter0425]

There are still no interesting situation in crypto market now, looking at how the market move now?

https://coinmarketcap.com/

I don't know if we are going to buy this claim ? a 6 weeks high ?

hope that it will happen in the coming days because what w have now are still a BS manipulated and wont come in big outcome .

The market movement is experiencing a good trend, although it has not fully recovered for now, not only talking about profits, but the market reaction at least makes us more enthusiastic to come back, and I'm also not sure this month will produce big profits

please dont let the enthusiasm cover your plans and target here in your investing because it is the movement and the response from investors like us that will always make the market matter .
but it is indeed that we tend to come back once there is a big changes in market and when it specially on climbing position and this is what w all been waiting .

[Republikcoin.com]

At least the bitcoin price movement has started to change, this is what some people in crypto have been waiting for, the difference between last month and now is not that big, the price increase is not that far and I don't see investors going into the market to sell some of the bitcoins they own, because this is still quite early to release assets, considering the current selling price has not provided a profit for investors who buy bitcoins above the current price.

Investors who bought Bitcoin at a higher price are not going to sell now, but for investors who bought Bitcoin at $18K I think they have considered selling it at $24K.
So that the decline in the price of Bitcoin is still possible in the near future and if indeed the price of Bitcoin can increase again slowly in the market, it will be much better. I think so.

[Nrcewker]

It’s just a price hike I would say.
I mean it’s caused by the whales by buying more BTCs in a regular price.
For this reason Bitcoins took a smaller leap. Currently the price has fallen 5-6% and it is again back to the normal price.
It’s not a bull run according to me, and the bear market will last for more weeks also.
Nevertheless, let’s buy in this low price as many Bitcoins as we can and definitely after some weeks we will see great profits.

[Oceat]

I don't think this is a bull trap, I think it is natural for the price to recover if there is less pressure from the selling side.  Besides if we look around the news today, they somehow have a positive sentiment.  But regardless even if investors buy today, Bitcoin price will definitely surge when the market becomes bullish.

You might be right if it's not a bull trap but I will give it enough time to reveal its intent since most of the time it would show if you didn't expect it to happen. But I agree that it depends on the situation of the market and sentiment of the people but I can't tell exactly which of the two is happening that's why I just have to give it enough time.

It would be a good thing if FOMO hits today and make an early trigger of the bull market.

So far, I haven't seen something like that happened which would trigger the bull market although, there are circumstances that there's an abnormalities in the market that do trigger the bullish but that's just it after pumping a little it won't pump anymore since the trader's will keep it steady for at least a week or so then it goes down back again.

[Silberman]

At least the bitcoin price movement has started to change, this is what some people in crypto have been waiting for, the difference between last month and now is not that big, the price increase is not that far and I don't see investors going into the market to sell some of the bitcoins they own, because this is still quite early to release assets, considering the current selling price has not provided a profit for investors who buy bitcoins above the current price.

Investors who bought Bitcoin at a higher price are not going to sell now, but for investors who bought Bitcoin at $18K I think they have considered selling it at $24K.
So that the decline in the price of Bitcoin is still possible in the near future and if indeed the price of Bitcoin can increase again slowly in the market, it will be much better. I think so.

I really think the majority of investors that bought their coins near the bottom have no intention of selling their coins, they understand very well what is at stake here, it is true that if they sell now they can obtain some profits, but those profits are nothing compared to what they can get in a few years down the line once the new bull market comes, so if anything they are thinking on buying more bitcoin if the price goes down to those levels as this will increase their profits in the future even further.

[Fara Chan]

please dont let the enthusiasm cover your plans and target here in your investing because it is the movement and the response from investors like us that will always make the market matter .
but it is indeed that we tend to come back once there is a big changes in market and when it specially on climbing position and this is what w all been waiting .

Not intended to cover up the enthusiasm of a person's investment plan, we only do a small study to see conditions that allow things that are not desired, the climbing process will not just happen, there is a process that must be passed, before the climb reaches the perfect stage

Investors who bought Bitcoin at a higher price are not going to sell now, but for investors who bought Bitcoin at $18K I think they have considered selling it at $24K.
So that the decline in the price of Bitcoin is still possible in the near future and if indeed the price of Bitcoin can increase again slowly in the market, it will be much better. I think so.

There are as many as two patterns that people often do when starting to invest, first make the purchase of the coin at a cheap price, then sell when the price has strengthened.
Both people will consider how to get large or small profits, this applies when we are able to see opportunities for coins in the market, for example the current price we can benefit and store in the long run, according to the desire to strengthen at what price, or decide short term with profit small

I really think the majority of investors that bought their coins near the bottom have no intention of selling their coins, they understand very well what is at stake here, it is true that if they sell now they can obtain some profits, but those profits are nothing compared to what they can get in a few years down the line once the new bull market comes, so if anything they are thinking on buying more bitcoin if the price goes down to those levels as this will increase their profits in the future even further.

The habits of people who invest in this model are big investors, they only target small profit but because large purchases can be adjusted to the benefits, which means they have large capital to make purchases at any price, but for small investors Long Term, Where the Profit Earned Must Be Large from the Price of Initial Capital Purchases

[Rufsilf]

What we saw is just normal market fluctuations. Pumps can always be possible despite the bear situation and not a thing to consider or an indication it was Bullrun. No, we still need OP for a longer market uptrend streak and it was just a few weeks which is not enough to think about it. Maybe it found interesting and see the reason behind but neither does it come to our mind this is the sign for the upcoming Bull season as it likely comes 2-3 years from now as expected. Maybe I was wrong but that was during halving.

[Silberman]

What we saw is just normal market fluctuations. Pumps can always be possible despite the bear situation and not a thing to consider or an indication it was Bullrun. No, we still need OP for a longer market uptrend streak and it was just a few weeks which is not enough to think about it. Maybe it found interesting and see the reason behind but neither does it come to our mind this is the sign for the upcoming Bull season as it likely comes 2-3 years from now as expected. Maybe I was wrong but that was during halving.

Obviously the market recovering relatively quickly after the crash that we saw some weeks ago is a good thing, but people need to be more cautious in the way they evaluate the recovery of the market, what we are seeing is a correction, simply put the price went down too quickly as people panicked and sold their coins for a loss, smart investors realized the mistake those people committed and they bought their coins for a discount and the increased demand made the price to go up again, however it cannot really be classified as a bull run no matter how we look at it.