Will the bull market come back?


#1

Citicoins data: BTC bitcoin reported $6291.4, a 24-hour increase of 0.08%; ETH Ethereum reported $205.30, a 24-hour increase of 2.82%; BCH bitcoin cash reported $423.51, a 24-hour drop of 0.93%; LTC Litecoin reported $52.55, The 24-hour drop was 0.01%; the EOS grapefruit reported $4.971, a 24-hour increase of 0.89%.

Bitcoin price:

Yesterday, the volume fell, and after the 6200 support level, it stabilized and began to fluctuate. The overall decline was strong, but the downward trend has already appeared. However, the lower edge of the box is the cost area of the fund. If it falls again, it will fall again. 6000, almost all the chips in the past two years will be stuck. Once the volume is down, it will be very dangerous. Therefore, as long as the long position is still there, it will stick to it. According to the current situation, the probability of continuing to oscillate is relatively large. Direct fall will require huge selling pressure, so it is unlikely to be temporary.

Ethereum price:

In the low position, the heavy volume continued to drop, and yesterday, there was a heavy volume drop. The selling pressure was still very large. The project party took the zero-cost chips and realized it at any position. Therefore, there is not much expectation for Ethereum. Recently, Bitcoin is Following the ether, the ether became synonymous with the skyrocketing and plunging. From yesterday’s selling pressure, it is not ruled out that the shock will be re-examined.

ADA:

Continue to rush to a new low, the downward trend has not changed, so it is still waiting to wait and see, the probability of the market outlook continues to bottom down.

EOS price:

After the sideways, there was a heavy volume drop, and the direction was chosen. The support level was temporarily supported by the vicinity of 4.8. However, from the recent decline, it is not always possible to keep the live, so the risk is mainly avoided. Once it falls below 4.8, it should Temporary stop-loss stop loss, bearish mainly.

Yesterday, I said three coins at the bottom of the warehouse. As a result, I was taken directly by Bitcoin in the evening. This market will basically not have a banker attacking the trend. As long as the cake is not stable, the small currency will not have a bright light, so once Bitcoin fell below 6000, and small currencies should be unconditionally stopped. Some small currencies have a single day of rising prices. These currencies are basically closed-eyed, and the second day is basically a big drop. The big probability is a day of parade. The overall market is still weak. It is recommended that you continue to keep bullets and wait for a phased rebound.


#2

Of course the bullmarket will come back. Ten x bigger.:rocket:


#3

That still depends, I’m open to a good discussion on what makes cryptocurrency go up and down


#4

Bitcoin needs to get close to 2500$/btc to get enough momentum to attract buyers.


#5

There was an survey, that the crypto market has 3 circles, so now is going to start the inovation stage. It means that in 2019/2020 the market will start to be bullish again


#6

Market incentive might have already changed, but it’s going to take some time to breach the levels you’re hoping for.


#7

So which cycle are we now in?


#8

Hard to say. I think it has some time to get there.


#9

The bull market will probably come back at the end of 2020, but for now, it is more likely that we’ll just be inside a more stable market, BTC trading at $3.8


#10

@Ewan Botcoin has to break 6500$ with ease to get into bull again.


#11

All the coins give positive prediction about 2020, I agree. But the volatility of the market doesn’t allow us to be so trustfull :grinning:


#12

Yeah, sure, but it won’t happen so soon


#13

As I have written, we are going to start the inovation stage:)


#14

As an investor we all want to have the bear just walk its butt back into the forest, but personally as a pessimistic person. I dont see the projection for 2020 being a year that this will happen, over time it took to get BTC to this current price point, as i do believe history repeats itself. I wonder how long was BTC stable at a given number before it broke out and made historical jumps. Maybe this will give me something to do today, and just see time, length and also what each break out and drop then dwell for each price point. I rather have an educated guess than a regurgitated one.

[Edit] OK so I left the original post and will do this edit with Img’s :

Link to where i got all numbers and screen shots : https://coinmarketcap.com/currencies/bitcoin/#charts

The First standing bull was back in Nov of 2013, this was a few years (2009 according to google) after the creation. The peak price for BTC at this time was 1,122 per coin. This lasted and did not platue for some time.

Zoomed in View:

As you can see (Below) that it trended for a solid 4 years before it Bulled again.

Once the trend was over you can see that the Bull ran but only for a short time. This was a good run as it was up over (estimated) 1000%.

I used Power point to create this overlay and to show you what each looks like on top of each other.

The Darker and more gain was from Nov 2013 while the background (in red pink) was from this last bull.

Now that i got all this out and keep in mind i am just a normal person, i work have family and i am not some CryptoDad or what ever that live and only trade no normal job (9-5) type. I like to think from 2017 till the next (maybe) bull will be about the same trend and be done around 2021.

Hope all understand why i will continue to doubt that the breakout of bear and bull will come again wont happen till after 2020. around Nov 2021, both Bulls happened in the Nov time frame (weird).


#15

Dude, no one can predict the bitcoin market. Check the price in Nov 2016. It was 400$. And it was stale for 2 years before. Moving between 300 - 800$/btc. The all of a sudden ot rose to 20,000$ in just 8 months - from May 2017 until January 2018. Thats 50 fold increase. I believe the idea behind bitcoin is to cost a million USD. A satoshi then would cost 1 cent.


#16

@RedneckJoe I completely agree, all i was saying is like many others, there is a trend, and to say that the market will be Bull in 2020 is a bit of a stretch, the market jump in 2013 and the jump in 2017 were 4 years apart and they stated the same once the bull ended in 2013 , but it the bull in 2017 was very unexpected. Which blew so many people minds and introduced new breed of people, but these people were not aware " what goes up will go down"


#17

Okey, great, gonna follow you guys


#18

Agreed. But I think the idea behind bitcoin is to be the first currency in the world


#19

By value? Hard to imagine but definitely not impossible.


#20

Yes, it is hard to imagine, but I hope it will happen