The high of Bitcoin returned for real or is only temporary?

[marrcelo]

Bitcoin left the low phase and shot up. August had one of the best performances in years.

One of the many explanations is the weaker dollar. Historically, Bitcoin and gold usually benefit when the dollar loses strength.
Another point that calls attention is the public debt of the USA, that in August passed the US$40 trillion for the first time.

 Alot of people seem be seeking assets that serve of protection against the growth of the debt.

We are seeing the beginning of a new bull market or only a temporary movement?

[Sammysmart001]

Based only on August performance. I would say that it too early to call this the beginning of a new bull market, concerns and weaker dollar about growing debt can support demand for assets like that of Bitcoin. But still are other factors that can affect market.

Whether if the strength continues after initial move should be the more important thing to watch. Bitcoin having to maintain higher levels and again over a long period demand remains strong, this will give more reason to believe the move is part of a bigger trend than just a temporary rally.

[Chibit01]

We can say people are running to safety by investing in bitcoin because of the increase in US debt and how the purchasing power of the dollar is also decreasing, but let's not forget "Uptober", next month, happens to be among the months bitcoin is known to perform well in history. How about we also look at it from the point where short-term investors are accumulating aggressively in preparation for "Uptober"? That can also be another explanation for the recent price movement.

[marrcelo]

We can say people are running to safety by investing in bitcoin because of the increase in US debt and how the purchasing power of the dollar is also decreasing, but let's not forget "Uptober", next month, happens to be among the months bitcoin is known to perform well in history. How about we also look at it from the point where short-term investors are accumulating aggressively in preparation for "Uptober"? That can also be another explanation for the recent price movement.

The question of the debt and of the weaker dollar weighs in the long term, but in the short term alot of people really can be buying already eyeing the Uptober. Even knowing that happened in the past, is not guaranteed that the month of August will be of high again. I believe that the tradition will continue and Bitcoin will continue rising.

[sheenshane]

We are seeing the beginning of a new bull market

It might be, yes, IMO.

I've noticed that the Bitcoin price movement is repeating itself, or it's common for it to spike in price around this time of year (September and October).
Try to look at the price graph history that made you think it's a beginning where the price goes up and reaches another ATH.

[shinratensei_]

I believe it's not temporary, the fast surge, bitcoin breaking resistance one after another, and recently Golden cross happened, short term 50 SMA crosses above long term 200 SMA and when that happen that usually mean the market has turned bullish, seems like a new bull to me. It'd only be temporary if the price going down right after the first surge 81,000 but that is not the case. Feels good seeing bitcoin finally getting bullish again, I hope it can outperform AI stock and make whole market lively, even altcoins are going up really high right now though not all. This happened when FED announced rate hike btw which is great, not even interest rising can hold bitcoin back.

[yhiaali3]

It cannot be said that we have definitely started an upward market, but I think we are going in this direction, but we need to stabilize a little at these levels to make sure that the rise is not temporary and to confirm the upward trend.

Any way we are approaching October, which historically has been an upward trend, and therefore, if we are not disappointed this year, we may witness a significant rise and an approach to the peak.

[goldkingcoiner]

Bitcoin left the low phase and shot up. August had one of the best performances in years.

One of the many explanations is the weaker dollar. Historically, Bitcoin and gold usually benefit when the dollar loses strength.
Another point that calls attention is the public debt of the USA, that in August passed the US$40 trillion for the first time.

 Alot of people seem be seeking assets that serve of protection against the growth of the debt.

We are seeing the beginning of a new bull market or only a temporary movement?

It does seem like it is too early to tell. It might go either way. But I firmly believe in long term upside so that does not affect me at all. I simply hodl my coins and don't really think about the market or even political decisions. Bitcoin does not care, either.

[tbct_mt2]

Bitcoin left the low phase and shot up. August had one of the best performances in years.

More details with these tables from Cryptorank.io.
https://cryptorank.io/price/bitcoin/analytics

One of the many explanations is the weaker dollar. Historically, Bitcoin and gold usually benefit when the dollar loses strength.
Another point that calls attention is the public debt of the USA, that in August passed the US$40 trillion for the first time.

 Alot of people seem be seeking assets that serve of protection against the growth of the debt.

We are seeing the beginning of a new bull market or only a temporary movement?

In short term, it's temporary market movement, in long term, Bitcoin has been moving upwards in years.
https://www.coinglass.com/pro/i/yearly-candlestick-chart
Depends on your vision, you will look at Bitcoin with short term or long term view in charts and analytics.

Failures of governments, central banks and their consequent increasing national debts as well as decrease of purchasing power of fiat currencies are fuels for Bitcoin to be realized and grow more. These failure won't stop so I am very bullish that Bitcoin will continue growing up.
https://www.usdebtclock.org/world-debt-clock.html

[Zlantann]

It does seem like it is too early to tell. It might go either way. But I firmly believe in long term upside so that does not affect me at all. I simply hodl my coins and don't really think about the market or even political decisions. Bitcoin does not care, either.

I share your thoughts that it's too early to conclude that the rise will continue. Crypto analysts have pointed out some factors that have led to the current rise. They identified the falling oil prices and Treasury yields as the main factors that are pushing this rise. There are indications of a potential de-escalation of hostilities in Iran, and news that Saudi Arabia is working to restart its damaged East-West pipeline has contributed to the drop in crude oil prices. Money keeps flowing into risk assets like Bitcoin as the Fed keeps injecting money into the system. The situation in the Middle East is unpredictable, which could cause crude prices to rise in the future.

[Smartvirus]

It does seem like it is too early to tell. It might go either way. But I firmly believe in long term upside so that does not affect me at all. I simply hodl my coins and don't really think about the market or even political decisions. Bitcoin does not care, either.

The easier narrative to accept is that, these things happen and most times, the reasons why Bitcoin price action responds to certain occurrences in society would always be unclear, its trend direction would even be more uncertain to us and the best we could always do is take a position that satisfies our purposes for investing. Hodling always proves to be the best approach from an investment standpoint point and regardless of price market movement, you would always be better off.

If it’s a temporary pump before it dumps; maybe.

What should be the take here:

The market is preparing for the bull market phase to kick in, best to buy when it’s rising as this seems to be about that point.

[jcojci]

We might see another new bull market but we still need to wait because if the price is not break the last ATH, we can't say bullish. But Bitcoin is back on the track so we can hope the price back to the high price.

There is a chance the price keep increases in the October although no guarantee to see that happens. There still have three possibilities for Bitcoin which is still increases and get another bull or back to the lower price as previous or getting correction which can lead to many possibilities. Of course there will be many speculations around Bitcoin movements so be careful on that.

[cryptoaddictchie]

Bitcoin left the low phase and shot up. August had one of the best performances in years.

One of the many explanations is the weaker dollar. Historically, Bitcoin and gold usually benefit when the dollar loses strength.
Another point that calls attention is the public debt of the USA, that in August passed the US$40 trillion for the first time.

 Alot of people seem be seeking assets that serve of protection against the growth of the debt.

We are seeing the beginning of a new bull market or only a temporary movement?

We dont know if this pump isnt manipulated as fed hike and the negative result of the Clarity Act simply doesnt justify the reversal cause when we are thinking if fundamentals affect the market conditions then we should have seen a really down slope movement but instead too many short liquidated.

Who can justify the potential market up of bitcoin today?

[davis196]

Bitcoin left the low phase and shot up. August had one of the best performances in years.

One of the many explanations is the weaker dollar. Historically, Bitcoin and gold usually benefit when the dollar loses strength.
Another point that calls attention is the public debt of the USA, that in August passed the US$40 trillion for the first time.

 Alot of people seem be seeking assets that serve of protection against the growth of the debt.

We are seeing the beginning of a new bull market or only a temporary movement?

The Bitcoin price performed really well in the past few weeks, but this doesn't mean that the bull market has returned and there's a FOMO phase coming. The markets can crash at any time and it's not just the cryptocurrency market I'm talking about. Wall Street can crash in no time. The US housing market is frozen according to several reports. The 10 year US Treasuries are sitting at above 5% interest, which is a historically record high, which means that the investors are expecting a recession. I'm not sure that Bitcoin would enter a bull run, when the US economy enters the recession phase.

[Oshosondy]

Nobody know although some said bull market has returned. Even looking like mild altseason as bitcoin dominance fall below 60% and now it is slightly above 58%.

Many altcoins has risen in price so much.

I remember a time bitcoin increased back to $13950 after falling from $19600 in 2017/2018 to $3158, but it was later it fall to $3850 after some months. What is happening now look like what was happening at the time.

I do not not think bull run has started

[OcTradism]

Nobody know although some said bull market has returned. Even looking like mild altseason as bitcoin dominance fall below 60% and now it is slightly above 58%.

Many altcoins has risen in price so much.

Altcoins are shit and Bitcoin now is not too far from its ATH. It's -31.4% from ATH.

Altcoins lost 80% or 90% or more from their ATHs, so their considerable price rises recent weeks mean almost nothing to cover pain of loss for altcoin holders.
In percent, and in short term, it looks impressive but if you take a look at wider picture, altcoin holders are still in massive losses and they are very far to their break-event points.

[Uhwuchukwu53]

Not too good is speculating the market, but looking at the current moved of Bitcoin, I will boldly said that if it continues it will show another greater signs of hitting it ATH, this upcoming US midterm elections by November possible first will has a lot to tell because as many are not certain on the mind of trump though his not a determinant of the bull but we see how his wining triggered the Bull making Bitcoin to hit 100k with speed, if this move continue and retared at 877-88k after the midterm elections by US I would not expect anything less than touching it ATH .

[cryptomaniac_xxx]

We are seeing the beginning of a new bull market or only a temporary movement?

If we look at the previous historical logs, we are still in the bear market. Nevertheless, there are times that it seems that we are out of it just like what happened in August as you have said, it's a huge 25% jump and that only happens in the bull-run.

However, I will still be cautious though, we don't need to be celebrating early that we are in the bullish phase. We might see some uptick, that's good, but we don't know what's going to happen in short term, or at least at the end of the year.

[Bitcoin_Arena]

We are seeing the beginning of a new bull market or only a temporary movement?

As someone who still follows the old 4 years cycles, I would say it's still temporary movement. Maybe the dynamics can change is we break through 100K in the next few days but I will start becoming super bullish after the next halving

I also don't believe that Bitcoin's recent uptrend is tight too the US debt and all those news that we hear every day. It's just a bitcoin being Bitcoin. It's been long since we last saw such volatility.

[Saltysugar99]

I don't want to think it a bull market. After Bitcoin dropped below $100k, there was considerable stability in the price. Overall, the Bitcoin market has not seen any major price declines or increases for a long time. And I think the Bitcoin price will drop a little in the future. After the drop, we may see a bull run in the next halving. And the increasing debt of the USA does not have a direct impact on the Bitcoin price, but if this continues for a long time, if people's trust in the dollar decreases and the purchasing power of the dollar decreases, then Bitcoin will gain acceptance among many people. The number of Bitcoin holders will increase, investors will increase, and as a result, we will see a slight increase in the price of Bitcoin. But this is a long term matter.