Is Bitcoin In Bullish or Bearish Trend?

[TravelMug]

Perhaps this data might be good to see so that we can have a idea on whether we are in bull run or bearish trend,



https://www.coinglass.com/today

So the last pre-halving year, 2019, seems to to be bearish and it could be comparable to the current year as obviously in 2024 we will be having the block halving. The current price movement seems to be on the sideways, meaning there's no movement at all from a big surge in Q1 and Q2. So for some this could be considered as bearish already. But overall though, after the lowest low last year, we have recovered at least and yes, just continue to accumulate with any methods that fits you.

[1714823245]

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[The Cryptovator]

I don't think this is an appropriate question right now. Because Bitcoin has been very stable lately. If you observe this year's chart, you will find how stable Bitcoin has been this year. I can't find any trend for the bitcoin price. It's hard to predict when Bitcoin will calm down. On the other hand, there is still no good news to consider the bull trend for Bitcoin. Also, there is not much bad news to consider in the bear market. So it's time to consider Bitcoin a stable trend.

[lalabotax]

So, what is your perspective: Do you believe we are currently in a bear market, or is this merely a manipulation to discourage some individuals from Bitcoin?

Currently, Bitcoin's price seems to be in the middle. This is not the bottom of the earish era. Because after all, there has been a process of quite significant price increases since the bearish era reached the bottom price. However, it cannot be categorized as a bullish era even though it has experienced an increase, because after all, we have not yet reached the Bitcoin halving and we are still far below the highest price of the bullish era last season.

So we could say, actually we are still in the bearish phase, but we have started to move up the trend towards the bullish era. I don't know what the term is, but I myself believe that there is a phase, regardless of manipulation or not. But this is part of the cycle.

[mirakal]

So, what is your perspective: Do you believe we are currently in a bear market, or is this merely a manipulation to discourage some individuals from Bitcoin?

Bitcoin doesn’t have any clear trend for anyone to rule out. It nonsense to assume any trend while the price is clearly on the sideways of bullrun in short time frame(days) and bear market in long time frame(months). The price is currently on indecision phase so there’s no current trend here unless the price breaks any major support and resistance that is already a boundary for more than a month.

All this price action is clear the result of 2 sides of traders that has opposite belief. Positive trader believe that ETF approval and Bitcoin halving will boost the price while the other side are those still viewing the Bitcoin chart as bearish.

Whatever it is, we all know that eventually bitcoin will still end up with a bullish price. That is why we never get easily discouraged with its price fluctuations because at the end of the day, bitcoin will always settle with a new ATH. That’s how powerful bitcoin is, that even if the market seems bearish at times, but we all know that opportunities start with a bearish price. And here comes the bullish trend, the perfect time to reward ourselves from those opportunities we grab while the market is bearish.

[kingvirtus09]

If I look now at the actual live footage that is happening in the crypto market based on the Bitcoin price movement, as you can see in the picture below, using the time frame of 1 day, it is clear that we are currently in an uptrend period or bullish.




But that doesn't mean it's not good to do DCA, as most of these times do. Of course, it's still good to do DCA, and don't stop using these tools to save Bitcoin and other crypto assets for future Bitcoin halving or bull runs.

[Ben Barubal]

    Bullish or bearish, the important thing is that we take advantage of being able to accumulate cryptos that we want to have at the right time and during the bull run. We ask questions like that when you don't have any assets in cryptocurrency, so it turns out in the end that there is no point in our asking.

   I've noticed many people like that; they just ask, but they don't take any steps for themselves. That's why I ask you: do you have any holdings that are being saved now? Because if your answer is that you are saving, then you should first take action for your own Bitcoin or cryptocurrency savings. No offense to what I'm saying. Good morning

[terrific]

However, I hold the view that Bitcoin's price is primarily driven by sentiment. Whether we accept it or not, it's our sentiment that propels Bitcoin's price, not technical analysis. Technical analysis only comes into play when we need to determine the price range for our next buying or selling decision.

In a speculative market, everything is possible to get of hold Bitcoin's price and drive it with whatever factor that we're thinking.
Yes, sentiments are into this market and price of it could have been driven by it depending on the motion that it gets and how intense the sentiments are.
It's like the news before like pre 2016 halving when a lot of news came out and affects the market so quickly.

[LogitechMouse]

~
So, what is your perspective: Do you believe we are currently in a bear market, or is this merely a manipulation to discourage some individuals from Bitcoin?

I'd say we're out of the bear market already, but I don't see a manipulation on what's happening currently in the market. Do you still believe in market manipulation OP? In some altcoins, whales have the power to manipulate the price because of it's low volume, but to manipulate the price of Bitcoin? It's 2023 already, and do you still believe that whales can manipulate the price of Bitcoin knowing how much it's market cap is currently?

Right now, I would say that we are in the accumulation phase. We are out of the bear market already IMO, and now we are in a moment where investors are starting accumulate Bitcoin bit by bit in preparation for the upcoming bull run. When it will happen? I don't know, but I believe it will happen 2nd half of 2024, or maybe at the start of 2025.

Bull or bear, I guess it doesn't matter as long as you have a strategy in both scenarios. Having a strategy or plan during either a bull market, or bear market will help you gain profits one way or another, but to answer you, I would say neither of the 2.

[YUriy1991]

Everyone has their approach in anticipation of a potential Bitcoin surge in the near future. However, we should also consider how long everyone can wait for this expected turnaround. It's commonly suggested that next year will be fundamentally positive for Bitcoin, but what if price manipulation, like the dynamics of price ranging for several days getting to weeks seen this month during "Uptober," comes into play with no significant direction on where price would go but a mere indecisive action that can lead to manipulation and sweep traders who either long or short

So, what is your perspective: Do you believe we are currently in a bear market, or is this merely a manipulation to discourage some individuals from Bitcoin?

You are right. Everyone has their own approach in anticipating a potential Bitcoin surge in the near future. We may be able to gain profits during correction periods where prices fluctuate up and down. But, for talented traders leverage is also a mainstay which has the potential to open short trades to gain profits because the price is in the range to increase profits.

Now, for market price dynamics, apart from geopolitical factors, bad news or other things often contribute to price fluctuations and one more thing. Hackers are also a big problem in Bitcoin exchanges because they can be transferred anonymously.

[Sebas.tian]

This is not the first bearish market we have experienced from crypto market, and it will not going to be the last bearish market because there will always a bullish market and bearish market which always give investors opportunity to buy and sell in the market. I don't think, investors will be discourage with the bearish market, because it will not live forever in the market, which many potential investors are aware the way bullish market work to allow those that invested in the past to use bullish season to make a good profits. If you have not purchase your Bitcoin in this season, I will advise you to use this opportunity to buy and hold because we are still in the bearish season, and the bullish season is very close to the market.

[davis196]

The current state of the Bitcoin market can be summarized in one or two sentences.
Everyone is waiting for the bull market, but nobody is buying, because they are waiting for the price to drop even further, before the bull run comes. This might sound ridiculous, but it's true. BTC trading volumes have dropped down, because the army of Bitcoin HODLers have increased and the army of Bitcoin day traders have decreased in size. On the other hand, the lack of big trading volume and liquidity on the market is what stops the bull run from coming. Everyone is waiting for the bull run, but the bull run isn't coming because nobody is buying. Sometimes Bitcoin/crypto can be really absurd.

[Best-mary]

The current state of the Bitcoin market can be summarized in one or two sentences.
Everyone is waiting for the bull market, but nobody is buying, because they are waiting for the price to drop even further, before the bull run comes. This might sound ridiculous, but it's true. BTC trading volumes have dropped down, because the army of Bitcoin HODLers have increased and the army of Bitcoin day traders have decreased in size. On the other hand, the lack of big trading volume and liquidity on the market is what stops the bull run from coming. Everyone is waiting for the bull run, but the bull run isn't coming because nobody is buying. Sometimes Bitcoin/crypto can be really absurd.

Yes! I once saw someone posting how spot traders didn't make a move when he was sharing his volume data and that until there is enough volume then we might move to the upside. Looking at my chat this morning I saw that Bitcoin has been gradually moving up bit by bit although I got it at the range of 26k with the strategy I mentioned in my post. Maybe when it gets to 28k then I sell..

Ps: I have some I am holding. I need to diversify to have more dollars on me

[BVeyron]

The question about Bitcoin's current state keeps surfacing on the internet, and here's my perspective on it. I believe that Bitcoin is currently experiencing a significant bearish phase. This might come as a surprise, considering its widespread popularity, but when we delve into essential data points, it becomes apparent that some of the optimism surrounding its future is unravelling.

To provide context, when we look at Bitcoin's historical performance, we would expect periods of surges followed by normalization, fostering sustainable long-term growth. However, the reality differs. A close examination of monthly trading activity data from the beginning of 2018 reveals a consistent year-over-year decline in Bitcoin's trading activity for at least five years.

For instance, in September of this year, Bitcoin's trading activity was 68.6% lower compared to the same month the previous year. Over the past two years, it has seen a more moderate decrease of 54.8%. Yet, when compared to three years ago, it has declined by 68.9%, and compared to five years ago, it has plummeted by a substantial 86.1%. The overall trend is unequivocal: trading activity is on a steady decline, and Bitcoin's price significantly relies on the optimism of traders. Acknowledging these trends is essential. This is what some people believe.

However, I hold the view that Bitcoin's price is primarily driven by sentiment. Whether we accept it or not, it's our sentiment that propels Bitcoin's price, not technical analysis. Technical analysis only comes into play when we need to determine the price range for our next buying or selling decision.

I've observed that many people employ various strategies to accumulate Bitcoin during this prevailing bearish phase, such as the widely recognized DCA (Dollar-Cost Averaging) and Dual Investment (I often discuss these together because they complement each other). Some opt for Smart Trend, while a significant number engage in trading Bitcoin on futures contracts.

Everyone has their approach in anticipation of a potential Bitcoin surge in the near future. However, we should also consider how long everyone can wait for this expected turnaround. It's commonly suggested that next year will be fundamentally positive for Bitcoin, but what if price manipulation, like the dynamics of price ranging for several days getting to weeks seen this month during "Uptober," comes into play with no significant direction on where price would go but a mere indecisive action that can lead to manipulation and sweep traders who either long or short

So, what is your perspective: Do you believe we are currently in a bear market, or is this merely a manipulation to discourage some individuals from Bitcoin?

I think that the overall trend is bullish, but only if we choose long-term hodling. As for short-term, there wont be significant bullruns, and the market can even become bearish for some time. The same thing we can observe in adoption level: there is a possibility of moderate rise in adoption level, but there wont be a high rise in adoption level.

[wallet4bitcoin]

I consider the current bitcoin trend BULLISH! Although it has not broken out of the $30k mark i strongly feel that the current purchase of bitcoin and withdrawal to non-custodial wallets have proven that people are reducing the bitcoin currently in supply and that will lead to scarcity in a short while which will in turn translate to price appreciation (bullish). However, I do not consider same for the altcoins as bitcoin dominance is gradually increasing more and more.

We might see a retest to the $26k levels but it doesn't change the trend bitcoin is about to travel. Lets all keep fingers crossed, when the ETFs are approved, I am sure the bullish season will have officially started.

[nurilham]

It seems to be pretty neutral at the moment.

Neutral? What do you mean? 
As far as I know, we only have 3 conditions related to the trend of Bitcoin on the market. They are bearish, bullish, and sideways.
I never know the term of 'neutral'.

But everyone seems to  think that the halving next year will trigger a massive bull rally, and this confuses me.

What wrong with the people's hope?
It makes sense if the Bitcoin halving can trigger the significant increase of Bitcoin price. When the supply is lower than the demand, there should be an increase of the price. It is also proven for few years that there were always a big increase after the halving.

[Cryptomultiplier]

It is more bearish right now, because more persons are HODLing in respect to the halving expected to soon happen next year 2024.
I don't think I have really experienced or made a significant profit from the bullish seasons so far this year, because it is often short lived.
With other altcoins bearing a competitive edge in profit margin, the ETF projects sounds just about right in cementing Bitcoin's top spot and may likely effect a turn of tide in the market trends, before the halving even begins.

[jeraldskie11]

According to my study, we are currently in a bullish trend, but it is not the traditional bull market that we have seen in the past. When we look at the chart in the weekly time frame, we can see that it is making higher highs and lower lows and breaking swing points to the upside, indicating that the trend is bullish. This suggests that buyers have been in control in this case. If you're looking for a bull run similar to what happened in 2021, which resulted in a significant increase in price, it's unlikely to happen now. We don't know when it will happen, but I'm sure many are looking forward to the halving.

[flyingcarpet]

So, what is your perspective: Do you believe we are currently in a bear market, or is this merely a manipulation to discourage some individuals from Bitcoin?

I think we should not look for trends because anything can happen in this market at any time. It will reveal itself when the bull run comes. I know we're not in bull season right now, but I'm not sure if we're in bear season either. That's why, as I said, we should try to accumulate Bitcoin instead of looking for trends.

A person who believes in Bitcoin should not be influenced by any speculation. There are always speculations in this market, but I think it could be a mistake to be influenced by these speculations and make decisions regarding our investment.

[tabas]

It seems to be pretty neutral at the moment.

Neutral? What do you mean? 
As far as I know, we only have 3 conditions related to the trend of Bitcoin on the market. They are bearish, bullish, and sideways.
I never know the term of 'neutral'.

It's like that there's not that much action, we tend to say that it's like stabilized rather than neutral but that's pretty much what he's saying.

It is more bearish right now, because more persons are HODLing in respect to the halving expected to soon happen next year 2024.

I don't think that's a sign of bearish when everyone is holding. But I understand why everyone is doing that because even me, I'm also holding. The price has bumped to $30k just this day and many will conclude that we're already on a bullish trend. I'd say that we have to wait for more confirmations as these skyrockets are pretty normal for Bitcoin, right? And it's likeable if it stays on this price before the halving comes but as volatile as it may seem, some dumps could come at any time or more of corrections.

[armanda90]

Perhaps this data might be good to see so that we can have a idea on whether we are in bull run or bearish trend,



https://www.coinglass.com/today

So the last pre-halving year, 2019, seems to to be bearish and it could be comparable to the current year as obviously in 2024 we will be having the block halving. The current price movement seems to be on the sideways, meaning there's no movement at all from a big surge in Q1 and Q2. So for some this could be considered as bearish already. But overall though, after the lowest low last year, we have recovered at least and yes, just continue to accumulate with any methods that fits you.

Seems the market trend on pre halving time still bearish with many time of market got correction, based on your data looks bearish more dominance than bullish exactly last time Bitcoin raised above $30k last several months ago and until today still drop under $30k. Last rumored SEC approving ETF have little good news with bitcoin on the bullish moment until raised up from $28k suddenly success touch on $30k without few minutes can't endure.

Accumulate is best ideas have to do right now during bearish moment we have opportunity keep investing and accumulate how much possibility until bullish moment will arrive later.