Post
Topic
Board Speculation (Altcoins)
Re: Bull Run or Bull Trap
by
olumyd
on 16/02/2020, 00:46:51 UTC
Right now? I don't see that we are in a bull trap.

The price is steadily going up everyday, we have seen this kind of phenomena in a bullish cycle. The price gains might be slow though, and others call this a mini bull run. But this could be the start of a big run in the coming months, specially as we approach the bitcoin block halving event in May.
It is clear this is not a bull trap the rise in the price has been sustained and it has been very slow, if the price begins to go down then many people would have obtained great profits out of it and only those that FOMO will lose money, so I do not see how anyone could tell this is a bull trap even if the price went below 6500 which is the previous low, but right now I do not see any possibility of bitcoin going that low ever again in its history.

A bull trap - depending on whose side you're viewing the market from, the past few days are the evidence of subtle market manipulation to get people going in for long positions and risk having their positions liquidated against their will as the BTC market plunged from $10,341.56 USD
$9,874.43 USD heaping a massive 3% loss in just a day. Lots of positions were liquidated and the market makers + exchanges + those who could read the signs (a very minute fraction) took heavy bags home.