Is Bitcoin In Bullish or Bearish Trend?

[wxa7115]

My perspective of the crypto market has begun to change over the past few days I have seen bitcoin increase a whole lot from a price of 28k to 35k in a few days. I no longer see the market keeping on the bearish side again instead on its way to the bull market soon.

With the recent increase happening towards bitcoin, I can start by saying that the bearish market is beginning to fade away as we are pushing through the bull run gradually. In days to come, we will enter the month of November, and historically in November, bitcoin tends to go higher in price in preparation for the halving season. The halving is in months to come and the year is almost over, we can end the year with the price $35k-$40k price of bitcoin

Bitcoin really gave us a surprise with its rapid growth, but at the same time it is difficult to know if this growth will continue, I say this because right now the price of bitcoin is roughly half of the previous all time high, and taking into account the halving has not even take place that seems like a very high price already.

So to think its growth will continue seems a little bit difficult to accept, unless we were to see yet another correction previous to the halving.

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[Franctoshi]

In the grand scheme of things, Bitcoin has hit the ground running for the next bull market and I believe that we are not going back from here. The momentum that we need to get the price back up to its previous ATH is gradually coming back and we have started to see Bitcoin increase in its volatility than what we had it few months back with little stability in the price. I'm more bullish than I have been in months back.

[knowngunman]

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?

Well, There are a lot of different theories out there about what is happening in the Bitcoin market right now. Some people believe that we are in a bear market, while some think it's just a temporary dip. And some others also believe that there's manipulation going on behind the scenes. So, to answer your question about whether we are in a bear market, I think we need to look at the facts. Of course, the price of Bitcoin has been volatile recently but, there are a number of factors that suggest we may not be in a bear market. For example, institutional interest in Bitcoin is growing and there are a number of positive developments happening in the industry. Although, it's impossible to know for sure but the data doesn't necessarily point to a bear market.

However, some people might look at the recent price increases as a sign that we are in a bull market but it's also possible that it's just a temporary rally and the price could fall again. There's no way to know for sure and we are all hoping on the possibility. The important thing is that Bitcoin hash rate has actually been steadily increasing in recent months and this means that people are still interested in the technology.

[Minecache]

In the grand scheme of things, Bitcoin has hit the ground running for the next bull market and I believe that we are not going back from here. The momentum that we need to get the price back up to its previous ATH is gradually coming back and we have started to see Bitcoin increase in its volatility than what we had it few months back with little stability in the price. I'm more bullish than I have been in months back.

We can say that we are in the pre-bullish phase but if you think that we will only go up from here and there will be no decline then that is not entirely certain. I mean bitcoin probably won't see a drop below $20k, but a retest of bitcoin below $30k is entirely possible. Don't get too excited and too subjective just because of bitcoin's growth in the past 2 weeks. My prediction is different from your prediction, I believe we will still have adjustments before and after the halving but it will not be too bad, the worst is over.

[kotajikikox]

It did break 35k and stays there for a while now , but this is just the beginning of the expectation , if this 35k starts the growth and road to 40k then bette, but if in the next coming days we fell back to 20k level then this is trap and the beginning of the fall before the bull comes next year.

In the grand scheme of things, Bitcoin has hit the ground running for the next bull market and I believe that we are not going back from here. The momentum that we need to get the price back up to its previous ATH is gradually coming back and we have started to see Bitcoin increase in its volatility than what we had it few months back with little stability in the price. I'm more bullish than I have been in months back.

yeah this is also what I wanna believe that we will not fall at least below 20k , I also hope that 30k is the maintaining price till next year.

[btc78]

Maybe today i can completely say we are in Bull market/trend , this is how the market showing now https://coinmarketcap.com/currencies/bitcoin/ , how much Bitcoin  increase since last week? from 27k now to 35k and still climbing?

don't know if thios is not enough for you to call as Bull trend but if not then how much can we classify  bitcoin bulltrending? if the price doubled or trippled?
maybe it is differ from my belief because for me having more than 20% of increase and continuously climbing is a bull trending already .

[God bless u]

That's how we see things here, we are really in a bullish state right now. I guess it's time for us to see some movement as we have been in the boring sideways for at least at the start of April this year. Now, it's very different movement, and this month alone as you have pointed out, it has a big increased from $28k-$35k and it seems that the price continue to increased.

There is no difficulty in knowing about its growth because we can check about history that in some months there is decrease in price but as these months passed the value of bitcoin eventually and steadily recover back. The price was reached to 69k$ in past but then it went downward again but people did not loss their hopes and we are again seeing that how smoothly it goes towards such better worth.

The halving might have something to do with it. Investors are preparing for it and less than six months from now, everyone is accumulating as much as they can at this price which is still very cheap and at a discount. And at the end of the year, we might be looking around $50k.

According to my opinion the price will move higher till April of next year because in April it is estimated that due to halving the price will remain increase. I think prediction about halving are becoming true therefore keep check on price it will surely cross the value of 40k$ in upcoming months. No body is too late and still there is a chance to buy bitcoin at affordable price  because in next year you will not be able to buy bitcoin as price will move towards peak. History repeats itself after few years and its a time to get benefit from repeating history during halving occurring in 2024.

[btc_angela]

In the grand scheme of things, Bitcoin has hit the ground running for the next bull market and I believe that we are not going back from here. The momentum that we need to get the price back up to its previous ATH is gradually coming back and we have started to see Bitcoin increase in its volatility than what we had it few months back with little stability in the price. I'm more bullish than I have been in months back.

Yep, we need to look at it at the grand scheme of things, currently though, that is not the picture that we are seeing. Yes, we have seen the price going up in the last month from $28k-$35k, but it is not enough for us. It could look like that we are in a bull run, but the biggest is yet to come and that is next year after the block halving.

So what we should do? Just wait for it, have patience and continue to accumulate, simply as that. There is no secret formula to all of us but that one. Hard and grind every week do DCA and we will be good and be prepared in 2024-2025's bull run and eventual all time high.

[Falconer]

Maybe today i can completely say we are in Bull market/trend , this is how the market showing now https://coinmarketcap.com/currencies/bitcoin/ , how much Bitcoin  increase since last week? from 27k now to 35k and still climbing?

don't know if thios is not enough for you to call as Bull trend but if not then how much can we classify  bitcoin bulltrending? if the price doubled or trippled?
maybe it is differ from my belief because for me having more than 20% of increase and continuously climbing is a bull trending already .

Bitcoin has increased by 22% in the last 7 days, 28.2% in 30 days, and 70% in one year according to coingecko. Of course it has confirmed that the market is currently on a bullish trend despite price volatility along the way. I'm not sure how others judge the market to be bullish or not, but based on what we've seen then I'm just assuming that bullishness is here and underway.

More bullishness is certainly expected, but getting 70% in 1 year is something I think is good. Any investment such as gold or some other investment instruments does not seem to be able to provide that much return in one year, but in bitcoin it can be, even higher.

[bitterguy28]

In the grand scheme of things, Bitcoin has hit the ground running for the next bull market and I believe that we are not going back from here. The momentum that we need to get the price back up to its previous ATH is gradually coming back and we have started to see Bitcoin increase in its volatility than what we had it few months back with little stability in the price. I'm more bullish than I have been in months back.

Nothing is certain mate, Crypto market is much as vulnerable to any issues the world has facing and will be facing ,
 the volatility keeps allowing the prices to move up and down in no time , we have seen so much from the past and still seeing many in our day now so please never assume that something good staying in same level.
while we have  a good run in the past week but we also knew this may change overnight , try not to expect so much because you may end crying in the next , be ready and keep your heads up, invest more if you can add some funds to risk, also expect sideways because it may happen(but i doubt will in the next couple of months)
ATH is recorded 2 years ago , so it may come next year on the next to it, but what ever happened I believe that this is just another way for us to trust more and invest more,Positive thinking is what we need now.

[Sebas.tian]

In the grand scheme of things, Bitcoin has hit the ground running for the next bull market and I believe that we are not going back from here. The momentum that we need to get the price back up to its previous ATH is gradually coming back and we have started to see Bitcoin increase in its volatility than what we had it few months back with little stability in the price. I'm more bullish than I have been in months back.

Bearish is still on ground for those that missed the opportunity few months ago to use this opportunity to be part of what is about to happen in crypto market that will make long term holders and short term holders to have access to a huge amount of income before the end of this year 2023. I believe, the price of Bitcoin is still $34,932 which is a sign that bullish market will soon appear for massive pumping to take place for those that have target of $50,000 or $60,000 to get ready to embrace such price in the market. I think, it will be difficult for the price of Bitcoin to decrease more than this current price before it will hit the ground running in a way investors will begin to experience bullish season soon.

[Marvell1]

In the grand scheme of things, Bitcoin has hit the ground running for the next bull market and I believe that we are not going back from here. The momentum that we need to get the price back up to its previous ATH is gradually coming back and we have started to see Bitcoin increase in its volatility than what we had it few months back with little stability in the price. I'm more bullish than I have been in months back.

Nothing is certain mate, Crypto market is much as vulnerable to any issues the world has facing and will be facing ,
 the volatility keeps allowing the prices to move up and down in no time , we have seen so much from the past and still seeing many in our day now so please never assume that something good staying in same level.
while we have  a good run in the past week but we also knew this may change overnight , try not to expect so much because you may end crying in the next , be ready and keep your heads up, invest more if you can add some funds to risk, also expect sideways because it may happen(but i doubt will in the next couple of months)
ATH is recorded 2 years ago , so it may come next year on the next to it, but what ever happened I believe that this is just another way for us to trust more and invest more,Positive thinking is what we need now.

People will often be pessimistic when they see the market fall more, but then they will become optimistic if the market rises again, which is quite normal because this is the general psychology of most investors. Only more meticulous people are always careful in everything, especially sudden price increases during the bear season.

Indeed, nothing is certain in this market, bitcoin can increase 22% in a week, then with just one news it can also decrease 22% in a day. Many people always give resistance based on technical analysis, they are not wrong but there is no guarantee that there will be no surprises.

[mich]

I think we are in a 'bullish' trend. There is alot of money that is now entering the market and we are all waiting for the spot Bitcoin ETF approvals that can add $1 Trillion to the market.

MicroStrategys Chairman Michael is very 'bullish' himself. He thinks the demand for Bitcoin is 10 times. https://decrypt.co/204196/michael-saylor-unprecedented-demand-set-10x-bitcoin

[posi]

I think we are in a 'bullish' trend. There is alot of money that is now entering the market and we are all waiting for the spot Bitcoin ETF approvals that can add $1 Trillion to the market.

MicroStrategys Chairman Michael is very 'bullish' himself. He thinks the demand for Bitcoin is 10 times. https://decrypt.co/204196/michael-saylor-unprecedented-demand-set-10x-bitcoin

As far as I know, no new cash flow has been poured into the market in recent days, there is no data reported on that. I think money will really flow into the market once the ETF is approved or after the halving. So it cannot be said that we are in a bull season, everything is just a temporary hype about the news surrounding the ETF approval and it will soon disappear. Bitcoin is still trading above $34k, but that doesn't give any guarantee that it won't drop below $30k again. It would be hasty to say that we are in bull season.

[Rabata]

In the grand scheme of things, Bitcoin has hit the ground running for the next bull market and I believe that we are not going back from here. The momentum that we need to get the price back up to its previous ATH is gradually coming back and we have started to see Bitcoin increase in its volatility than what we had it few months back with little stability in the price. I'm more bullish than I have been in months back.

Bitcoin rise up from bearish a few days ago and now the market is on a bullish trend. Here the market is taking time for some correction but I will take this time positively. I think we will be moving towards growth throughout the month of December. If the ETF news is positive in January then we will be fully moving towards the desired bullish market. Expect this bullish movement to reach all-time high as the market has been bearish for a long time. However, since the market is uncertain and risky, the investor must consider both bearish and bullish conditions.

[ancafe]

People will often be pessimistic when they see the market fall more, but then they will become optimistic if the market rises again, which is quite normal because this is the general psychology of most investors. Only more meticulous people are always careful in everything, especially sudden price increases during the bear season.

Indeed, nothing is certain in this market, bitcoin can increase 22% in a week, then with just one news it can also decrease 22% in a day. Many people always give resistance based on technical analysis, they are not wrong but there is no guarantee that there will be no surprises.

This happens because they don't really understand the journey of bitcoin, which makes them pessimistic when the price of bitcoin is in a prolonged correction. We have been in this cycle repeatedly and perhaps we have seen many things about how the market reaction can bring Bitcoin to a sharp decline and can also bring Bitcoin to an erratic rise beyond the expected cycle. This is what some pessimistic people don't have because they only think about quick profits and don't see the process of the journey.

The percentage increase is always uncertain and that is why bitcoin is considered quite volatile and if people do not have a good understanding then the price fluctuations can provide opportunities for them to make losses. For example, this week and we also saw a quite significant price increase even though there was a small correction in the process, that is the journey of bitcoin and it will always repeat itself as there are cycles that we often talk about.

[Baofeng]

In the grand scheme of things, Bitcoin has hit the ground running for the next bull market and I believe that we are not going back from here. The momentum that we need to get the price back up to its previous ATH is gradually coming back and we have started to see Bitcoin increase in its volatility than what we had it few months back with little stability in the price. I'm more bullish than I have been in months back.

Bitcoin rise up from bearish a few days ago and now the market is on a bullish trend. Here the market is taking time for some correction but I will take this time positively. I think we will be moving towards growth throughout the month of December. If the ETF news is positive in January then we will be fully moving towards the desired bullish market. Expect this bullish movement to reach all-time high as the market has been bearish for a long time. However, since the market is uncertain and risky, the investor must consider both bearish and bullish conditions.

Maybe there are, however, we all know that the market balances itself, with all the selling and buying happening 24x7 in the market.

But so far we are still very much above the threshold of $34k, meaning yeah there could be money flowing around the market and that might push the market just above the level that we are still be in the bullish phase.

And this month just started, and everyone is still very positive that we might be pushing higher at around $38k. So let's see, definitely everything here is at risk, it's up to us on how we are going to mitigate it and what is our outlook (long or short term).

[Japinat]

BTC has a positive trend on many time frames, you can tell when we start to have multiple alignments across time frames because we get positive action and spikes like has been occuring recently.  The simpliest way to view general positivity or not is the moving averages.  Both 200 day and 200 week are positive, it doesnt mean we cannot sell off but the general trend is towards accumulation or positive price ascent on the chart, we are still challenged in 2023 imo;  Im not expecting take off just yet but repeatedly we had demonstration of positive BTC.

Bitcoin is currently showing positive position in the market so I can actually say the bitcoin is in a bullish trend. But its never enough to say that we are actually starting to see a real bull run in the making. Of course, Im not expecting that it will happen this year but most likely the following year since  we have two exciting events that are going to take place, the supposed to be approval of btc ETF and the most awaited bitcoin halving that will bring positive changes in the market. Although we don't know what the future holds, but Im way more optimistic that they will end up with great results.

[Sanitough]

Since bitcoin is performing very well in the market, I am convinced to say that its price is certainly more bullish compared to its previous market price. And I think the fake approval of bitcoin ETH has helped it to be where its currently positioned right now. But definitely, when this ETF will be finally approved, expect that there will be more price surge for bitcoin.

However, I can't also tell that the bearish days for bitcoin are now gone. As long as the market is highly volatile, there will always be chances to see bitcoin price dropping again, but that's just to prepare us for it's new all time high adventure.

[doomloop]

In the grand scheme of things, Bitcoin has hit the ground running for the next bull market and I believe that we are not going back from here. The momentum that we need to get the price back up to its previous ATH is gradually coming back and we have started to see Bitcoin increase in its volatility than what we had it few months back with little stability in the price. I'm more bullish than I have been in months back.

The market does seem to be strong at the moment because it is not going down that much and after every small dip, it goes higher than the previous monthly high which was $35.2k before, and now it has gone above that already. So, the whole market must be bullish at the moment except for those who are never happy and are always panicking even if the market is rising more than the amounts it's dropping because they are new in the cryptocurrency market.

I wasn't expecting this, to be honest. I thought that the market wouldn't be able to go across the resistance at $35k so quickly and would have a hard time going above that but I guess I was wrong, and the new target is $40k now and we got to see if it can hit that mark easily as well and if that happens, it will become prominent that we are already in the bull run.