Bitcoin fails to cross 10K. Cause for worry? by cryptogem

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cryptocurrency · @cryptogem · May 11 '18 (edited)

$177.59

Bitcoin fails to cross 10K. Cause for worry?

Bitcoin made a nice move last month from 6000 last month to nearly cross 10,000. But repeated attempts to cross the level have resulted in failure. However I believe that this is not a cause for worry yet. It is part of a larger consolidation move before decisively crossing 10,000 and making a move upwards

With no major news on the anvil, apart from the Upbit exchange news, Bitcoin is only showing range-bound action between 7500 and 10,000. I believe that the lower end of this range near 8000 is where Bitcoin will find some support and bounce back. However, on the contrary if 7500 level is lost, then short-term weakness ensues. However, for the longer term, this will still remain in consolidation mode. As far as the long term analysis is concerned, a bear market resumes only below 6000. That scenario, in my opinion looks far fetched for now.

👍 appreciator, rocky1, smartsteem, promobot, buildawhale, postpromoter, upmewhale, therising, jerrybanfield, sneaky-ninja, emperorofnaps, cryptogem, treetoptennis, cifer, pearliciousme, magnat, zonnovate, icoinvestings, fortunex, azizi69, steemito, drac59, davemccoy, teampeople, a017, steemita, ityp, lamdo2018, sbi5, xandrell, soemoekyaw, daniel007, jaebin90, shenobie, lennydarwina18, hambali06, graciacoin, tuntunmyat, gina2, syafrizal, inwas797, karamyog, wstanley226, gordon87, originalathena, smhp2016, uknowjpbitcoin, silent-rs, kriptosan797, dipika, bobnevv

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@alelerdici · May 13 '18

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@budajored · May 12 '18

Bitcoin looks like a classic bubble, but whether or not it is one, its manifest volatility, combined with a lack of any fundamental value, disqualifies the cryptocurrency as a store of value.

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@emperorofnaps · May 12 '18

re-cryptogem-bitcoin-fails-to-cross-10k-cause-for-worry-20180512t012615971z

You got a 5.85% upvote from @emperorofnaps courtesy of @cryptogem!

Want to promote your posts too? Send 0.05+ SBD or STEEM to @emperorofnaps to receive a share of a full upvote every 2.4 hours...Then go relax and take a nap!

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@matthewoz101 · May 11 '18

What about the news with Upbit exchange? It may have caused some of this. I'm hoping it's temporary, but I guess I'll have to wait and see.

👍 matthewoz101

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@cryptogem · May 12 '18

$0.08

One of the executives at Upbit was simply transferring their clients cryptocurrency to his own accounts!

👍 cryptogem

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@murtaza78 · May 12 '18

That's really true every cryptocurrency become down that days. Steemit Dollar also become down day by day.

👍 murtaza78

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@postpromoter · May 11 '18

re-cryptogem-bitcoin-fails-to-cross-10k-cause-for-worry-20180511t192541150z

You got a 2.32% upvote from @postpromoter courtesy of @cryptogem!

Want to promote your posts too? Check out the [Steem Bot Tracker website](https://steembottracker.com) for more info. If you would like to support the development of @postpromoter and the bot tracker please [vote for @yabapmatt for witness!](https://v2.steemconnect.com/sign/account-witness-vote?witness=yabapmatt&approve=1)

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@cryptogem · May 11 '18

$0.08

thanks!

👍 cryptogem

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@sneaky-ninja · May 12 '18

re-cryptogem-bitcoin-fails-to-cross-10k-cause-for-worry-20180512t030057964z

![sneaky-ninja-sword-xs.jpg](https://steemitimages.com/DQmde7XXhkKjmxyqBbBPTwkaiuXXrtQe6qXoWmCDZL1nD2B/sneaky-ninja-sword-xs.jpg)
Sneaky Ninja Attack! You have just been defended with a 13.02% upvote!
I was summoned by @cryptogem. I have done their bidding and now I will vanish...

woosh
A portion of the proceeds from your bid was used in support of youarehope and tarc.

[Abuse Policy]( https://steemit.com/steemit/@sneaky-ninja/new-sneaky-ninja-abuse-policy-must-read-for-all-users)
[Rules]( https://steemit.com/steemit/@sneaky-ninja/sneaky-ninja-reminder-of-rules)
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@transparencybot · May 12 '18 (edited)

<h3>This post has received votes totaling more than $50.00 from the following pay for vote services:</h3>

appreciator upvote in the amount of $42.53 STU, $80.02 USD.
rocky1 upvote in the amount of $30.80 STU, $57.96 USD.
smartsteem upvote in the amount of $29.33 STU, $55.19 USD.
promobot upvote in the amount of $20.80 STU, $39.15 USD.
buildawhale upvote in the amount of $20.17 STU, $37.96 USD.
postpromoter upvote in the amount of $15.37 STU, $28.92 USD.
upmewhale upvote in the amount of $14.54 STU, $27.35 USD.
therising upvote in the amount of $11.67 STU, $21.95 USD.
jerrybanfield upvote in the amount of $11.57 STU, $21.76 USD.
sneaky-ninja upvote in the amount of $8.51 STU, $16.01 USD.
emperorofnaps upvote in the amount of $2.10 STU, $3.94 USD.

**For a total calculated value of $207 [STU,](http://steem.supply/rewards) $390 USD before curation, with approx. $52 USD curation being earned by the paid voters.**

This information is being presented in the interest of transparency on our platform **and is by no means a judgement as to the quality of this post.**

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@upmewhale · May 11 '18

re-cryptogem-bitcoin-fails-to-cross-10k-cause-for-worry-20180511t192507931z

You got a 14.24% upvote from @upmewhale courtesy of @cryptogem!

Earn 100% earning payout by delegating SP to @upmewhale. Visit http://www.upmewhale.com for details!

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@cryptogem · May 11 '18

$0.08

thanks!

👍 cryptogem

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@xandrell · May 11 '18

$0.09

Growth without correction does not happen, it's a fact

👍 cryptogem, xandrell

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properties (23)vote details (2)

voter	weight	wgt%	rshares	pct	time
cryptogem	0 B		19,662,060,090	100%
xandrell	0 B		593,048,222	100%

@cryptogem · May 11 '18

$0.09

good point !

👍 cryptogem, xandrell

`author`	cryptogem
`permlink`	re-xandrell-re-cryptogem-bitcoin-fails-to-cross-10k-cause-for-worry-20180511t193717974z
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properties (23)vote details (2)

voter	weight	wgt%	rshares	pct	time
cryptogem	0 B		19,337,960,199	100%
xandrell	0 B		605,339,377	100%

@xandrell · May 11 '18

$0.09

If you track the pricing of bitcoin, you can see that the growth and fall have always been, and they will always be

👍 cryptogem, zonnovate, xandrell

`author`	xandrell
`permlink`	re-cryptogem-re-xandrell-re-cryptogem-bitcoin-fails-to-cross-10k-cause-for-worry-20180511t195040591z
`category`	cryptocurrency
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properties (23)vote details (3)

voter	rshares	pct
zonnovate	2,501,209,040	100%
cryptogem	17,671,366,740	100%
xandrell	559,247,546	100%

7 replies