BTC Steady at $114K While Shutdown Looms

[Firstfrost]

Bitcoin is holding around $114K despite a ~2% dip earlier. With the U.S. government shutdown risk tonight, volatility is on the table. Meanwhile, China launched its AxCNH yuan stablecoin in Kazakhstan, and the SEC is weighing blockchain-based stock trading.

I’m watching for either a BTC breakout above $117K or a pullback to $110K. Altcoins could rotate if BTC stays flat.

[Dave1]

Bitcoin is holding around $114K despite a ~2% dip earlier. With the U.S. government shutdown risk tonight, volatility is on the table. Meanwhile, China launched its AxCNH yuan stablecoin in Kazakhstan, and the SEC is weighing blockchain-based stock trading.

I’m watching for either a BTC breakout above $117K or a pullback to $110K. Altcoins could rotate if BTC stays flat.

We will have to see, we are in the middle of the week, and so far thte US government has been shutdown for 8 hours. But it's about midnight in Asia and there seem to be no movement at all. On the contrary the price just started to rise and it could touch $117k before the end of this day Eastern US time. So I would say that we should wait for a couple of days as usually the effect whether good of bad takes at least 48 hours.

But then again, when everything settles down, we will go back to where we started, which means as it nothing has happened. And we can only hope that the stand out in the US will be settled down so that they can also function as normal again.

[STT]

Not steady now, its a good move up today.  This move if confirmed will break a rough downtrend in play since early August, that much energy and volume reversed would prove significant and quite noticeable.  

 This does need to confirm ideally on weekly bars, volatile moves mid week that reverse and arent backed with volume are unfortunately the danger of tracking BTC short term.

The shutdown condition is true every week month and year regardless, it means the largest government in the world spends far too much and needs to borrow more.   Almost always the dollar is suffering a loss of value because of this failure to balance the books, its politics more then anything else and the only useful thing to note is a half century consistency of failing currency value.

[Nathrixxx]

Bitcoin is holding around $114K despite a ~2% dip earlier. With the U.S. government shutdown risk tonight, volatility is on the table. Meanwhile, China launched its AxCNH yuan stablecoin in Kazakhstan, and the SEC is weighing blockchain-based stock trading.

Lot of things are happening already in the global economy and we can see the way they some how display a significant impact on bitcoin price and in some cases, cause nothing much, but in this case, all that has happened works in favour of bitcoin market price setting it to rise after the fall and increases interest in running a decentralized economy by the people and other financial organizations.

I’m watching for either a BTC breakout above $117K or a pullback to $110K. Altcoins could rotate if BTC stays flat.

You can now see how this happened to be a bullish move from what happened, because we already had the fall last week that led to the market falling to $108,000 and now we are already having it's correction and the market has pump to $117,000 and we can go more bullish after this henceforth.

[Ndabagi01]

Bitcoin is holding around $114K despite a ~2% dip earlier. With the U.S. government shutdown risk tonight, volatility is on the table. Meanwhile, China launched its AxCNH yuan stablecoin in Kazakhstan, and the SEC is weighing blockchain-based stock trading.

I’m watching for either a BTC breakout above $117K or a pullback to $110K. Altcoins could rotate if BTC stays flat.

Fortunately, the shut down of the US market has a positive impact on the market. This time around the market did not correct down to $110K but we saw the market pumping all the way past $118K which is a good development for Bitcoin after facing a long term correction and dump in the past month. The effect of this month which has been recorded has been a very positive month for Bitcoin is already displaying its potentials on the very first day. I am hoping it is going to continue and we will see Bitcoin going up trending and a new all time high be recorded again. Holders are now happy that they can still fall back on their savings they’ve once trusted again.

[Franctoshi]

Bitcoin is holding around $114K despite a ~2% dip earlier. With the U.S. government shutdown risk tonight, volatility is on the table. Meanwhile, China launched its AxCNH yuan stablecoin in Kazakhstan, and the SEC is weighing blockchain-based stock trading.

I’m watching for either a BTC breakout above $117K or a pullback to $110K. Altcoins could rotate if BTC stays flat.

That Bitcoin move from 109k back to 118k, which I did talk about that Bitcoin reclaiming of $118k is a sign of good strength, and if it breaks above 114k after the retracement to 109k, it will trigger a price action back up towards 124k and or above. Bitcoin fundamentally still remains strong and their hasn't been much sign that supports price going down anytime soon.

[pooya87]

I don't think the US government shut down has any direct effects on bitcoin price because the issues leading to that are the internal political war that is going on in the USA and anything economical that indirectly affects bitcoin is going to take time to take place (check out last time the US gov. shut down).

The reasons for the recent drop in the last week of September and also the general ongoing struggle to go up and break $120k to set a new ATH is all the existing economic crisis in the world (specifically the recession) that is the result of all the ongoing wars. From the tariff and currency war US regime is waging against the world all the way to the armed conflicts that are currently growing, for example in Eastern Europe where they have mobilized troops to engage in a proxy war with Russia (as US proxy).
These things create instability and uncertainty in global financial markets and people seem to still be scared to buy bitcoin at times like this (they prefer buying gold for some reason and not so much bitcoin!).

[Lanatsa]

I don't think the US government shut down has any direct effects on bitcoin price because the issues leading to that are the internal political war that is going on in the USA and anything economical that indirectly affects bitcoin is going to take time to take place (check out last time the US gov. shut down).

The reasons for the recent drop in the last week of September and also the general ongoing struggle to go up and break $120k to set a new ATH is all the existing economic crisis in the world (specifically the recession) that is the result of all the ongoing wars. From the tariff and currency war US regime is waging against the world all the way to the armed conflicts that are currently growing, for example in Eastern Europe where they have mobilized troops to engage in a proxy war with Russia (as US proxy).
These things create instability and uncertainty in global financial markets and people seem to still be scared to buy bitcoin at times like this (they prefer buying gold for some reason and not so much bitcoin!).

A US government shutdown by itself rarely has a direct impact on bitcoin’s price it is more of a political standoff than an economic collapse and the immediate effects are usually limited to government workers and federal services bitcoin as a global decentralized asset is not tied directly to those shutdowns so the connection is weak at best. The bigger forces weighing on bitcoin right now are the same ones shaking global markets recession fears inflation pressures and the ongoing geopolitical conflicts these create uncertainty and in times of fear investors often run toward what they view as “safer” assets like gold rather than newer alternatives like bitcoin even though bitcoin was designed to be a hedge against traditional systems it has not yet fully replaced gold in the minds of most investors.

The difficulty bitcoin is having around the 120k resistance reflects this hesitation people are cautious about entering risk assets when global tensions and economic struggles remain high once broader confidence returns bitcoin has the potential to break through but for now the fear in traditional markets spills over into crypto as well. So while a shutdown in washington makes headlines it is the deeper economic and geopolitical instability that explains both the recent dip and the ongoing hesitation to push into new all time highs.

[justinlamode]

US government shutting down did not have any negative impact on Bitcoin instead, we have seen a breakout to the upside-down,  although weak but the momentum is not exhausted yet. If this breakout holds, that means we are going to test the ATH  from there we aim for new highs. This agrees with the prediction of those who believe that this quarter of the year will be the best we have seen in Bitcoin. Buy more and HODL!

[EluguHcman]

I don't think the US government shut down has any direct effects on bitcoin price because the issues leading to that are the internal political war that is going on in the USA and anything economical that indirectly affects bitcoin is going to take time to take place (check out last time the US gov. shut down).

I think this is coming from the view that relates to the disagreement that Bitcoin price can not be manipulated by political crisis but if we can take close look and agrees that macroeconomy can influence the price of Bitcoin, then it could be possible that politics which governs the global economy via regulations implementing economy structures and constituting policies can also drive the price of Bitcoin effectively.

Perhaps the US is one nation that has attributed a lot to Bitcoin and Trump's impact alone can also influence the market. But I strongly doubt that the sudden shutdown of the USA White House could suddenly prove it such sudden impact on Bitcoin price when we know Bitcoin is decentlized and not like those alt coins that strictly determines its price by hypes and news.

[AprilioMP]

Bitcoin is holding around $114K despite a ~2% dip earlier. With the U.S. government shutdown risk tonight, volatility is on the table. Meanwhile, China launched its AxCNH yuan stablecoin in Kazakhstan, and the SEC is weighing blockchain-based stock trading.

I’m watching for either a BTC breakout above $117K or a pullback to $110K. Altcoins could rotate if BTC stays flat.

You must be prepared for all phases and not focus on one. If you were anticipating a Bitcoin price increase above $117,000, that's already past the current price. Your wait may be delayed beyond your expectations, due to Bitcoin's volatile price.
Still on the subject of price fluctuations, issues and events that directly impact market price fluctuations are unavoidable because they are related to investor confidence in making buying decisions.

[arwin100]

Bitcoin is holding around $114K despite a ~2% dip earlier. With the U.S. government shutdown risk tonight, volatility is on the table. Meanwhile, China launched its AxCNH yuan stablecoin in Kazakhstan, and the SEC is weighing blockchain-based stock trading.

I’m watching for either a BTC breakout above $117K or a pullback to $110K. Altcoins could rotate if BTC stays flat.

You must be prepared for all phases and not focus on one. If you were anticipating a Bitcoin price increase above $117,000, that's already past the current price. Your wait may be delayed beyond your expectations, due to Bitcoin's volatile price.
Still on the subject of price fluctuations, issues and events that directly impact market price fluctuations are unavoidable because they are related to investor confidence in making buying decisions.

Now Bitcoin currently at $119k and this one really shows that its really not good to get panic if they see some dumps happened. Since they can always look at current situation and make it as indication that Bitcoin would really bounce back then those long dips they are thinking fades out.

People must really prepare and better to think about that Bitcoin is not the same on the shitcoins they are following since most of those questionable coins will not recover. But Bitcoin it always show up some amazing movements and for sure those people who sold at $109k regrets now for seeing Bitcoin recovers fast.

[cryptomaniac_xxx]

Bitcoin is holding around $114K despite a ~2% dip earlier. With the U.S. government shutdown risk tonight, volatility is on the table. Meanwhile, China launched its AxCNH yuan stablecoin in Kazakhstan, and the SEC is weighing blockchain-based stock trading.

I’m watching for either a BTC breakout above $117K or a pullback to $110K. Altcoins could rotate if BTC stays flat.

You must be prepared for all phases and not focus on one. If you were anticipating a Bitcoin price increase above $117,000, that's already past the current price. Your wait may be delayed beyond your expectations, due to Bitcoin's volatile price.
Still on the subject of price fluctuations, issues and events that directly impact market price fluctuations are unavoidable because they are related to investor confidence in making buying decisions.

By now it's obvious that the shutdown didn't bring any negative impact on the market. On the contrary we are going to almost touch again $120k. And that is the good sign that at least in the last 3 months who are still going to be in the bullish state as there are some who thought that the bear has taken over and so they are very negative about it. But some of us are still very positive so it's good to see that it has translated to what we are seeing today.

So let's see, I have said, $120k is very much possible for this month. As for the shutdown of the US government, I'm not that familiar with the history of US with regards to it's shutdown and what not. And I can only hope that the people behind are smart enough to not let politics goes in the way.

[free-bit.co.in]

I think the US government shutdown has nothing to do with the market and the market doesn't care about it. There is no positive or negative impact from them on the market as many people think. Because financial markets depend on the overall performance of the global economy, not on any single government.

The US government shutdown will not disrupt the US economy nor will it stall the global economy. So there is no need to worry that it will have a negative impact on the market. People should not overthink or exaggerate the importance of the US government to the economy or markets. What we should be more concerned about is interest rates and the general health of the global economy as those are factors that directly affect the market.

[Ojima-ojo]

We need to avoid attaching Bitcoin sentimental movement to a particular government policies or regulatory actions, and start building a phenomenal approach towards Bitcoin price action because is obviously right that Bitcoin doesn't follow a particular trend to make any price actions.

Last week we saw Bitcoin in a dip price correctional stage and now we are almost at another all time high price, this is what Bitcoin volatilities and unpredictable nature is all about and we need to start aligning ourselves to this fact about Bitcoin and not being assumptional about Bitcoin.

[AprilioMP]

?

Now Bitcoin currently at $119k and this one really shows that its really not good to get panic if they see some dumps happened. Since they can always look at current situation and make it as indication that Bitcoin would really bounce back then those long dips they are thinking fades out.

People's fear when they see the market price in the red is understandable. Those who panic are likely new to the market and don't fully understand market performance. Interestingly, it's actually experienced traders who are panicking. That's odd.
Imagine, it didn't take long for Bitcoin to reach $123,000 from the $119,000 you mentioned. That's the current situation, and it could change in no time.

People must really prepare and better to think about that Bitcoin is not the same on the shitcoins they are following since most of those questionable coins will not recover. But Bitcoin it always show up some amazing movements and for sure those people who sold at $109k regrets now for seeing Bitcoin recovers fast.

People involved in Bitcoin should be prepared for ups and downs and shouldn't need to look at the charts too often if their goal is long-term; they should just buy when they want to.

[shinratensei_]

As it happens the shutdown instead causes the bitcoin price to go up, maybe just people wanted to hedge with bitcoin and worry about the shutdown.
Bitcoin really become alternative to gold nowadays. if such news were to appear back then people would've rotated to gold but right now majority didn't and choose bitcoin instead.

I wouldn't be surprised if we see $130k next. currently BTC is sitting at $125k and showing no sign of weakening at all. We're not bullish enough.

[free-bit.co.in]

As it happens the shutdown instead causes the bitcoin price to go up, maybe just people wanted to hedge with bitcoin and worry about the shutdown.
Bitcoin really become alternative to gold nowadays. if such news were to appear back then people would've rotated to gold but right now majority didn't and choose bitcoin instead.

I wouldn't be surprised if we see $130k next. currently BTC is sitting at $125k and showing no sign of weakening at all. We're not bullish enough.

Is that true? Gold also broke ATH before and after the US government shutdown officially began. Similarly, SPX, DJIA and IXIC also increased slightly and reached ATH before bitcoin. So are they considered a safe alternative to gold? And would investors choose Bitcoin over gold or other assets?

No, and as far as I know the government shutdown inadvertently became the impetus for the Fed to lower interest rates to balance the labor market. Because if the government shutdown continues, unemployment will become severe and this could easily push the economy into recession, so the Fed needs to act promptly. That is why the market is optimistic and excited instead of fearful.