Bitcoin hits $80,000 why?

[Ndabagi01]

When I saw the market changes I was actually mean to know where what is driving the market over the time, of course when the price of Bitcoin hit 80k It was like would it cross that range?
Then I had to see that there are other forces that is really controlling the market where by it wasn't able to move above the such price ratios. But to honest I do not have that feeling that it would cross 80k to another new price, although, I suspect that there is a higher selling pressure which wasn't able to pull the price above expected.

There was a force pushing the market to reach $80K, after reaching that price the force was not able to continue the push and had to relax and not exceed more than $80K. The selling pressure is high now and the market may have to consolidate for a while now, or even longer than we expected.

I am now seeing more of a bearish market than a bullish trend in the market. The market didn’t show a sign of a bullishness prior to when this forces pushed the market to $80K. I am already feeling that the market will begin to consolidate and most probably see a bearish sentiment in the market towards the end of the year.

[fredericktaylor]

When I saw the market changes I was actually mean to know where what is driving the market over the time, of course when the price of Bitcoin hit 80k It was like would it cross that range?
Then I had to see that there are other forces that is really controlling the market where by it wasn't able to move above the such price ratios. But to honest I do not have that feeling that it would cross 80k to another new price, although, I suspect that there is a higher selling pressure which wasn't able to pull the price above expected.

When the price of Bitcoin rose from $65k to $80k in just a few days, it seemed that the price of Bitcoin would be seen at an all-time high (ATH). The price of Bitcoin increases depending on demand, so the more Bitcoins ordinary people and small and large traders buy and hold for a long time, the price will gradually increase. It is just that the more Bitcoins investors sell, the more Bitcoins will affect the price of Bitcoin, which will take time for the price of Bitcoin to reach ATH.

The price increase does not temporarily rise above $80k due to excessive selling but gradually the price of Bitcoin will increase and we will see ATH of Bitcoin. I am optimistic.

[LUCKMCFLY]

Judging by what happened in previous years, August was traditionally considered a "red month," and this year, no one expected anything good from August to begin with. However, as we can see, BTC delivered a surprise this month. And who knows, maybe BTC will continue to show unpredictable movements in the coming months as well.

You're absolutely right, however, things are very different now. But you know, I think it's all thanks to Trump's statements. It might keep going up, and I hope Trump gradually speaks more favorably about BTC so that those hesitant investors finally put their money into it. I'm sure that can happen.

August was undoubtedly a bad month, but as I've always said, circumstances aren't the same as they were a few years ago. Everything is constantly changing, and this time we deserved some good news. I hope it keeps coming.

[MorganaX]

When I saw the market changes I was actually mean to know where what is driving the market over the time, of course when the price of Bitcoin hit 80k It was like would it cross that range?
Then I had to see that there are other forces that is really controlling the market where by it wasn't able to move above the such price ratios. But to honest I do not have that feeling that it would cross 80k to another new price, although, I suspect that there is a higher selling pressure which wasn't able to pull the price above expected.

There was a force pushing the market to reach $80K, after reaching that price the force was not able to continue the push and had to relax and not exceed more than $80K. The selling pressure is high now and the market may have to consolidate for a while now, or even longer than we expected.

I am now seeing more of a bearish market than a bullish trend in the market. The market didn’t show a sign of a bullishness prior to when this forces pushed the market to $80K. I am already feeling that the market will begin to consolidate and most probably see a bearish sentiment in the market towards the end of the year.

Ordinarily for me, seeing the price sky rocket so high was a big surprise because I never took this particular year to be a year that we would see such significant rise in the price, I mean seeing how the price moved from 67k to 125k last year, my day one impression of this year has been bearish all through. So when I saw that the price was climbing again I knew there would be a resistance point for it to pause and lay back something like correction.

[l99l]

Judging by what happened in previous years, August was traditionally considered a "red month," and this year, no one expected anything good from August to begin with. However, as we can see, BTC delivered a surprise this month. And who knows, maybe BTC will continue to show unpredictable movements in the coming months as well.

You're absolutely right, however, things are very different now. But you know, I think it's all thanks to Trump's statements. It might keep going up, and I hope Trump gradually speaks more favorably about BTC so that those hesitant investors finally put their money into it. I'm sure that can happen.

August was undoubtedly a bad month, but as I've always said, circumstances aren't the same as they were a few years ago. Everything is constantly changing, and this time we deserved some good news. I hope it keeps coming.

I wasn't expecting a drop in August, as it's always seen as a month of decline. Now we've moved on to September let's see how we'll close out this month.
When it comes to Bitcoin, unpredictable movements are always possible, just like in previous years. Sometimes, rises or falls don't have a single, definite cause.
Anyway, I hope we continue to hear good news for the autumn.

[Powerjumboo]

Bitcoin hits $80k, after over 100days.

To me this is not just a usual price move, what is driving this rally?

Please use the poll above.

Yes, after a long time, we have seen the price of Bitcoin in the Bitcoin market from $80,000 to $81,000. However, there may be various reasons for this price increase, maybe many people were buying more at this time or some good news came to the market due to which people may have increased their demand for Bitcoin and decided to buy and hold it, due to which there may have been such an increase in the Bitcoin market. However, let's wait and invest if we can afford it. Looking at the market situation, it seems that the market will have a more upward trend.

[Pandorak]

Yes, after a long time, we have seen the price of Bitcoin in the Bitcoin market from $80,000 to $81,000. However, there may be various reasons for this price increase, maybe many people were buying more at this time or some good news came to the market due to which people may have increased their demand for Bitcoin and decided to buy and hold it, due to which there may have been such an increase in the Bitcoin market. However, let's wait and invest if we can afford it. Looking at the market situation, it seems that the market will have a more upward trend.

Today, Bitcoin experienced a fairly sharp decline; the price, which had previously been at $79k, slowly fell until it hit $76k and faced rejection. Hopefully, Bitcoin will hold steady at the $75k level and hope there won’t be a breakout from that strong support area. If the structure breaks, there’s a high chance Bitcoin will drop to more extreme levels, it’s even possible that a trend change or a continuation of the bearish trend could occur, in other words, a REVERSAL. I think as long as there’s no bad news capable of shaking the market, the trend remains positive for an uptrend.

[Die_empty]

Yes, after a long time, we have seen the price of Bitcoin in the Bitcoin market from $80,000 to $81,000. However, there may be various reasons for this price increase, maybe many people were buying more at this time or some good news came to the market due to which people may have increased their demand for Bitcoin and decided to buy and hold it, due to which there may have been such an increase in the Bitcoin market. However, let's wait and invest if we can afford it. Looking at the market situation, it seems that the market will have a more upward trend.

Based on the reports from many crypto news platforms, the main reason for the price increase is because U.S. Treasury doubled its support buybacks for long-term bonds. This has led many investors to invest in Bitcoin since it has proved to be a hedge against inflation. The high inflows into the Spot Bitcoin ETFs also contributed to the positive market performance. My suspicion is that this current market trend wouldn't last for long time. Hence, traders should expect a massive drop in price at any time.

[STT]

Weakness in the dollar oils the wheels of any recovery and BTC was primed to break upwards though many feared the lower prices it refused that and only went sideways for a long time there.  
  Now the Dollar index is back up we're seeing a retraction of the price rise, its a normal cycle back and forth and generally adds strength.

I think a reasonable downside target that would retain an overall bullish movement would be 74k, for a number of reasons but these prices would match the March highs.  Also I read this area represents a weighted volume average.  BTC is negative now below a weekly average in my view, that's just the current attitude.

[avp2306]

Yes, after a long time, we have seen the price of Bitcoin in the Bitcoin market from $80,000 to $81,000. However, there may be various reasons for this price increase, maybe many people were buying more at this time or some good news came to the market due to which people may have increased their demand for Bitcoin and decided to buy and hold it, due to which there may have been such an increase in the Bitcoin market. However, let's wait and invest if we can afford it. Looking at the market situation, it seems that the market will have a more upward trend.

Based on the reports from many crypto news platforms, the main reason for the price increase is because U.S. Treasury doubled its support buybacks for long-term bonds. This has led many investors to invest in Bitcoin since it has proved to be a hedge against inflation. The high inflows into the Spot Bitcoin ETFs also contributed to the positive market performance. My suspicion is that this current market trend wouldn't last for long time. Hence, traders should expect a massive drop in price at any time.

Bitcoin react so fast when that news came out and we have scene it broke at $80k, but the phase change and it seems the hype lives only for short time. We have seen Bitcoin declining and maybe that actually state that we are not yet in bull season.

People need to prepare for possible pull backs, since who knows maybe there's possible correction happens. Also there's possibilities that your suspicion might really happen, seeing that for past few days Bitcoins seems to be slowly declining and stays in current price level.

But hoping not to see those massive drops which you have said and market proves that we are wrong with our negative assumptions.

[#CapsLOck]

What really caught my eye is that Bitcoin didn't make the $80K mark and still not prove to be a real trend reversal. What occurred after the breakout attempt is important. I would have assumed that the market would have moved above the breakout area and not retest the center of the breakout area. That's what I think brought about more liquidity and short term positioning than a mere shift in long term demand. I would be watching to see if BTC can get back to $80K and become supporting. But if it continues to be rejected there, it may have just been a respite rally, not a new bull leg.

[cocadalcan]

Yes, after a long time, we have seen the price of Bitcoin in the Bitcoin market from $80,000 to $81,000. However, there may be various reasons for this price increase, maybe many people were buying more at this time or some good news came to the market due to which people may have increased their demand for Bitcoin and decided to buy and hold it, due to which there may have been such an increase in the Bitcoin market. However, let's wait and invest if we can afford it. Looking at the market situation, it seems that the market will have a more upward trend.

Based on the reports from many crypto news platforms, the main reason for the price increase is because U.S. Treasury doubled its support buybacks for long-term bonds. This has led many investors to invest in Bitcoin since it has proved to be a hedge against inflation. The high inflows into the Spot Bitcoin ETFs also contributed to the positive market performance. My suspicion is that this current market trend wouldn't last for long time. Hence, traders should expect a massive drop in price at any time.

You have given the right advice. We need to be prepared for the fall in the price of Bitcoin, especially those who are traders but who are long term investors, to continue to accumulate Bitcoin regularly. This fall or rise in the price of Bitcoin will be there. Smart investors accumulate Bitcoin regularly.
It is also not certain that the market will not continue the long-term price increase trend for a long time. The liquidity growth in spot ETF is still continuing and the demand for Bitcoin is increasing. We need to be prepared for every price trend and accumulate Bitcoin regularly.

[CryptoBuds]

Yes, after a long time, we have seen the price of Bitcoin in the Bitcoin market from $80,000 to $81,000. However, there may be various reasons for this price increase, maybe many people were buying more at this time or some good news came to the market due to which people may have increased their demand for Bitcoin and decided to buy and hold it, due to which there may have been such an increase in the Bitcoin market. However, let's wait and invest if we can afford it. Looking at the market situation, it seems that the market will have a more upward trend.

Based on the reports from many crypto news platforms, the main reason for the price increase is because U.S. Treasury doubled its support buybacks for long-term bonds. This has led many investors to invest in Bitcoin since it has proved to be a hedge against inflation. The high inflows into the Spot Bitcoin ETFs also contributed to the positive market performance. My suspicion is that this current market trend wouldn't last for long time. Hence, traders should expect a massive drop in price at any time.

We can't know for sure, but this seems like the most likely news behind Bitcoin's rise since it directly affect money flows in the market.

You're not the only one who has doubts. A lot of people have similar suspicions and think this could be a trap. But, to be honest, nobody has got a clue. It all remains unconfirmed.

So we should not only prepare for Bitcoin to drop. We should also be ready for the opposite scenario, because the market can easily do the exact opposite of what we expect.

[Zackz5000]

Bitcoin hits $80k, after over 100days.

To me this is not just a usual price move, what is driving this rally?

Please use the poll above.

There is nothing driving the recent increase in the price of Bitcoin and what we are seeing now we can't just say it's not usual or we can't say this is the first time Bitcoin is increasing after several months of decrease.

Bitcoin is a volatile asset so we shouldn't be surprised if the price is moving upward after it has been downward for some times now, we were not in any way expecting the price of Bitcoin to remain at Dip without making an upward trend. As an investor our focus shouldn't be on the price of Bitcoin rather focus on how we can continue accumulating more Bitcoin and hold for long.

[Leahized]

You have given the right advice. We need to be prepared for the fall in the price of Bitcoin, especially those who are traders but who are long term investors, to continue to accumulate Bitcoin regularly. This fall or rise in the price of Bitcoin will be there. Smart investors accumulate Bitcoin regularly.
It is also not certain that the market will not continue the long-term price increase trend for a long time. The liquidity growth in spot ETF is still continuing and the demand for Bitcoin is increasing. We need to be prepared for every price trend and accumulate Bitcoin regularly.

I'm not very optimistic that Bitcoin will soon lean towards a fall. But it should be considered normal for Bitcoin to experience some decline during its hype. And during ups and downs, traders do not suffer too much. Except for the profit-seekers. Even if the situation goes out of control, at the end of the day, an investor will benefit. Because during the fall, they continue to collect Bitcoin.

Since there are still many positive influences, the demand for Bitcoin will continue to rise. And its price drop will not be too much. At this time, it is better for traders to make decisions with less risk.

[MarryWithBTC]

Bitcoin hits $80k, after over 100days.

To me this is not just a usual price move, what is driving this rally?

Please use the poll above.

There is nothing driving the recent increase in the price of Bitcoin and what we are seeing now we can't just say it's not usual or we can't say this is the first time Bitcoin is increasing after several months of decrease.

Bitcoin is a volatile asset so we shouldn't be surprised if the price is moving upward after it has been downward for some times now, we were not in any way expecting the price of Bitcoin to remain at Dip without making an upward trend. As an investor our focus shouldn't be on the price of Bitcoin rather focus on how we can continue accumulating more Bitcoin and hold for long.

We know that bitcoin is a volatile asset, but the volatility is not spontaneous, something triggers it. The bitcoin price cannot just be moving up for no reason. There must be a fundamental action somewhere that triggered aggressive buy which pushed the price up.

Bitcoin model is on demand and supply, when there is more demand, the bitcoin price will blossom and when there is a negative news, people will panic and sell and the price will crash. I think this is very normal to understand.

I therefore stand firm on the idea that something really caused the price boom and i listed the possible options above.