Bitcoin is about to have its biggest monthly gain since October 2021.

[feeling sound]

After the start of a much-needed bullish relief this week, bitcoin and crypto are inching closer to getting the best monthly gain since October of 2021when we had the release of the first Futures ETF Bitcoin in the US. That's indeed some much-needed and appreciated relief we are getting right now after months of constant extreme fear and red candles.

How long we will continue to rally or how sustainable this rally is, is quite debate-able but we should just get a bit happy for the moment now, we don't get such times always in crypto and especially after the years past few months. Also, we are not having any significant planned economic event next month as there is no FOMC to raise rates. So we may have some space left on this rally…

[mk4]

Before anyone gets too overconfident — a lot of times, we get the biggest short-term price increases in bear markets; so don't make conclusions solely based off this.

^Of course I'm not saying that we'll surely end up going back down either. Because no one knows.

[pooya87]

What rally are you talking about?
Price is still below $25k and inside the same $5k range that it has been in the past 2 months, going up and down in what clearly is a sideways market.
Besides why are you sticking "crypto" to bitcoin. Shitcoins are still pump and dumping as they have always done.

[Zilon]

Don't get too excited just yet price still struggles to stay above $22k+. This is a time to trade with extreme caution. Another bear market is about to set in after price failed to maintain a bullish move.





Two different analysis from coinmarketcap telling how complicated it is to invest at this price except for long term hodlers

[pooya87]

Another bear market is about to set in after price failed to maintain a bullish move.

This is just as wrong as what OP said. There is no bear market on the horizon either. This is the 4th drop after the rise fails to go above the resistance level and that makes is the 4th time people call for a bear market where it clearly is a sideways market.

[lizarder]

After the start of a much-needed bullish relief this week, bitcoin and crypto are inching closer to getting the best monthly gain since October of 2021when we had the release of the first Futures ETF Bitcoin in the US. That's indeed some much-needed and appreciated relief we are getting right now after months of constant extreme fear and red candles.

How long we will continue to rally or how sustainable this rally is, is quite debate-able but we should just get a bit happy for the moment now, we don't get such times always in crypto and especially after the years past few months. Also, we are not having any significant planned economic event next month as there is no FOMC to raise rates. So we may have some space left on this rally…

The market is nearing a gradual recovery for now, there are some coins starting to rise and finding their best, although not so maximal at standard prices, bitcoin is the most eagerly awaited for future recovery, since the correction started taking place after the new ATH achievement in 2021.

The most appropriate or profitable now is to make a monthly investment scheme, meaning that we see opportunities in the short term for bitcoin, because the prolonged rally has not been able to provide guarantees, so to maximize it it is necessary to do a monthly scheme, so that the investments made can be utilized in the near future

[OgNasty]

It is good news that the market has seen such strong action since the recent lows. I think we still have a few months of accumulation before the tides turn and the price starts it’s ascent for the next run. Support has been surprising though. The market to me feels pretty strong as we approach mtgox distribution time.

[Leviathan.007]

With all respect, I think most people are overreacting whenever they see even a little price pump in the market these days, since we are in a bearish market and we expect to reach the lower levels every day any uptrend movement can be just a little price opposite correction to save the potential for reaching the lower levels, otherwise, we have to see a valid signal to say the market is changing. Generally, even if the daily candles close at higher levels we still need a long-term signal for it. What's going be happened in the next few months can be very important for the market because most experts leave the bearish season is going to last longer.

[yazher]

It is good news that the market has seen such strong action since the recent lows. I think we still have a few months of accumulation before the tides turn and the price starts it’s ascent for the next run. Support has been surprising though. The market to me feels pretty strong as we approach mtgox distribution time.

the good thing is, the price hasn't continued to further down to $10k which is really kinda hard for the investors to recover soon. Thankfully we are heading to the point where we see some light at the end of the tunnel this might be just some speculation but in reality, it could really happen. Based on the current crypto market movement, the price is slowly changing course positively and it's all green in the market this week until today it has never stopped. it's slowly regaining its old price, we never know it could be the first step to getting back to $30+ again or more.

[Nrcewker]

Before anyone gets too overconfident — a lot of times, we get the biggest short-term price increases in bear markets; so don't make conclusions solely based off this.

^Of course I'm not saying that we'll surely end up going back down either. Because no one knows.

Yes no one has really seen the future .
So if we become too much excited and conclude everything, then it won’t be a great deal to be honest.
In this bear market we have already seen many price jumps, so we shouldn’t be happy thinking that the bear market will end now. Always be prepared and treat this as normal.
Bear market will come to an end, but not so soon. We meed to wait till September atleast.

[LFC_Bitcoin]

Every green monthly candle is a good thing but i am yet to see anything that says to me we are 100% out of the bear market. We’re still in a really tight, weakling price range between $19,000 - $25,000. Until we break out of this range we don’t know what’s going to happen. We can’t even break $25,000 at the moment.

I just think this is the usual bear market we have after a sustained bull market run. There isn’t anywhere near enough buying at the moment to confirm a change in sentiment.

Bear market until we break $30,000 again imo.

[dragonvslinux]

Before anyone gets too overconfident — a lot of times, we get the biggest short-term price increases in bear markets; so don't make conclusions solely based off this.

^Of course I'm not saying that we'll surely end up going back down either. Because no one knows.

It's true, this is pretty usual in bear markets. A few recent examples being +33% in April 2018 and +21% in July 2018, as well as +30% in January 2020 before dumping 60%. I'm also not suggesting that price will go lower, as I'm inclined to believe it won't (but for completely different reasons), it's more so that having a reasonable monthly gain of +16% after dropping over 60% within 3 months is kind of normal.

[Morosophy]

This is really good. I am really optimistic about price increases in the future.

[Yaunfitda]

As much as we wanted to remain bullish, I don't see this prediction happening. I mean just look at the price, we can't even get the hump of the next big barrier of $25k. Of course we wanted to see the price growing in the next couple of months. But if we are going to based on pure speculation like this one, hmm, might be better to not expect something big so that we will not be disappointed at the time. Maybe we have hit the all time lows already, so that is good enough for me. But to say that we are in rally wherein it's obvious there is none, it's better just to see how the market will progress and again, don't anticipate something big as we are still in the bear market.

[tygeade]

It is good news that the market has seen such strong action since the recent lows. I think we still have a few months of accumulation before the tides turn and the price starts it’s ascent for the next run. Support has been surprising though. The market to me feels pretty strong as we approach mtgox distribution time.

the good thing is, the price hasn't continued to further down to $10k which is really kinda hard for the investors to recover soon. Thankfully we are heading to the point where we see some light at the end of the tunnel this might be just some speculation but in reality, it could really happen. Based on the current crypto market movement, the price is slowly changing course positively and it's all green in the market this week until today it has never stopped. it's slowly regaining its old price, we never know it could be the first step to getting back to $30+ again or more.

That is more than enough for us, there isn't really a discussion about what to do when you have something so special in your hands. I get that people may or may dislike the fact that it didn't reach 10k. Liked is easy to explain because people want it to go up, but dislike is a bit more hidden which is the fact that it would take a while before people could realize they can't buy it that cheap again, hence why they wanted it to be cheaper.

This is why I do not see how that would not matter, I believe that it would be going up soon but that doesn't change the fact that even if it goes up, we could always keep on buying even at higher prices, because having more bitcoins could never hurt.

[yhiaali3]

We do not know if this recovery will last for a long time. The market has been in flux for a long time and this temporary rise does not indicate much. Yes, there was some recovery in the price of Bitcoin and some other coins, but this did not last long and began to decline, most likely this volatility stage will last for some the time.

[doomloop]

Every green monthly candle is a good thing but i am yet to see anything that says to me we are 100% out of the bear market. We’re still in a really tight, weakling price range between $19,000 - $25,000. Until we break out of this range we don’t know what’s going to happen. We can’t even break $25,000 at the moment.

I just think this is the usual bear market we have after a sustained bull market run. There isn’t anywhere near enough buying at the moment to confirm a change in sentiment.

Bear market until we break $30,000 again imo.

It can give us a good impression because we think the price is now ready to rise but like you said there are still some doubts if we can continue for the better or not because the past scenario's already give us a lesson to not get confident/excited too easily. This isn't 100% but I think this is only 10 percent for us to say that we are now out of the bear market. We already broke 19, 20, and 21k but the price is now staying at 22 and 23k levels.

Once we touch 24k then I believe that it will easily continue to 25k but that was only 25 to 30 percent of the "we are out of the bear market" meter, you are saying. I think 100 percent can still take a long time to happen.

[Jating]

We do not know if this recovery will last for a long time. The market has been in flux for a long time and this temporary rise does not indicate much. Yes, there was some recovery in the price of Bitcoin and some other coins, but this did not last long and began to decline, most likely this volatility stage will last for some the time.

After there is no recovery, of course we get over the last lower lows of $17,500. But still we are still struggling to just keep our nose above the $20k, and there are huge mental barrier around the $25k-$28k. So as what the title says here, biggest monthly gain? no, not going to happen, we will continue to fight $20k and until we reach $30k, there will be no movement next month or even up to December of this year.

[Baofeng]

Every green monthly candle is a good thing but i am yet to see anything that says to me we are 100% out of the bear market. We’re still in a really tight, weakling price range between $19,000 - $25,000. Until we break out of this range we don’t know what’s going to happen. We can’t even break $25,000 at the moment.

I just think this is the usual bear market we have after a sustained bull market run. There isn’t anywhere near enough buying at the moment to confirm a change in sentiment.

Bear market until we break $30,000 again imo.

Yeah, it seems that the biggest barriers are $30,000, and it will take a lot of money just to get to that price range this year. But first, $25,000, but then again, we almost reach that price though, we go to as high as $24,000, but that growth was not sustainable and now we hear about US, China tensions over Taiwan. So when we thought that we can go high and shows some signs and moving to the next key resistance, the price goes down again.

[adaseb]

Many stocks are already pumping lots off their lows. What traders are thinking is that next months CPI print will be low and that implies we peaked. Since we peaked the fed won’t doing anything crazy like 1% rate hikes.

So the markets are calm. But there is still a long way to go. Too much tensions in the markets with what happened with Pelosi and Taiwan earlier this week. However it looks like maybe that was the bottom.