127% Up from Bottom in 2022 - page 3.

slaman29

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I almost forgot how long it's been since the bottom was reached until I came across this thread title

Thank you for the upbeat and positive reminder. The painful "prediction" for me this year & 2024 though is if whether that was the bottom of this whole cycle because all other cycle bottoms drop to around 15% of ATH... while this one was above 20%. Are we seeing another big dump first before new bull? Is it something to affect how we hold?

Silberman

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Quote from: TravelMug on October 25, 2023, 09:51:40 PM

Quote from: ImThour on October 25, 2023, 11:28:44 AM

Many are still bearish and think it will go back but let me tell you, it's not going to stop anytime soon. I hope this HODL journey will be awesome for all of us.

Technically if we are still in the bear market, so I wouldn't be surprised if there are still individual who doubt that the current run up to $35k is bullish enough. Yeah, being a long term holder has it's perks and this is one of them, I mean if you have started investing last year when we had our lowest low then it's already a huge profit for us.

But this is not the time to sell, and although again, there could be argument that we are still in the bear cycle, the market has rebounded already, might be sideways again, but I don't see another downside as we are getting closer to the block halving and every one is very excited about it. And there are a lot of time, still 5-6 months to go for the halving, good enough to continue to do DCA and accumulate.

Exactly, while the profits are very good this is only the start of more good things to come, in fact this is still a good opportunity to accumulate more coins, because even if bitcoin barely surpassed 100k during the next bull run, a prediction that is too conservative for my taste, that would still mean very good profits for anyone deciding to buy now, so it is important to not let the current profits we may be experimenting to go through our heads as we are still far away from the bull run we are expecting.

bayu7adi

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dont be greedy

Quote from: Dave1 on October 25, 2023, 10:01:06 PM

Hopefully there will be no black swan event in the horizon, like the Terra Luna and then the FTX collapse. If there's none, then it will be good as we no longer see a lowest low for this year or for this bear market.

Indeed, the 2022-2023 time frame may seem a bit extreme, but what's more in vogue is the one month time frame, where Bitcoin has witnessed a noteworthy 36% surge after three months of sideways movement.

As for the present, I'm keeping an eye out for unfavorable news from the SEC, like the potential rejection of a Bitcoin ETF, which could trigger a bearish market. It's uncertain how substantial the impact will be, but it's likely to set the market in motion, possibly resulting in a minor bloodbath or even a severe bearish trend.

Nevertheless, I maintain a bit of confidence that BTC won't drop back to the $20k-$30k range, even in the face of an SEC rejection. There are other proposals in the pipeline that could keep BTC stable and perhaps even bullish until January 2024.

Poker Player

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Quote from: Dave1 on October 25, 2023, 10:01:06 PM

Hopefully there will be no black swan event in the horizon, like the Terra Luna and then the FTX collapse. If there's none, then it will be good as we no longer see a lowest low for this year or for this bear market.

Now it is much more unlikely. These things tend to happen when we come from a bull market that cools off and starts to fall. These types of fraudulent schemes hold up well in bull markets, where new money keeps coming in and they start to suffer when the fall begins. Companies that have weathered this cold winter are strong to face the next bull run.

Quote from: Dave1 on October 25, 2023, 10:01:06 PM

And just imagine though, it's a huge 127% jump from last year bottom, no other asset can bring that profit in just one year, so we should stick with Bitcoin.

I prefer to diversify a bit into non-crypto assets for safety, but yes, Bitcoin continues to be the best asset today in the safety/profitability pair.

Quote from: Dave1 on October 25, 2023, 10:01:06 PM

But we have to look at the bigger picture, the eventual bull run next year and the year after, so everyone should stay focus and continue to accumulate even in the bull run.

Yeah.

Dave1

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Hopefully there will be no black swan event in the horizon, like the Terra Luna and then the FTX collapse. If there's none, then it will be good as we no longer see a lowest low for this year or for this bear market.

And just imagine though, it's a huge 127% jump from last year bottom, no other asset can bring that profit in just one year, so we should stick with Bitcoin.

But we have to look at the bigger picture, the eventual bull run next year and the year after, so everyone should stay focus and continue to accumulate even in the bull run.

TravelMug

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Quote from: ImThour on October 25, 2023, 11:28:44 AM

Many are still bearish and think it will go back but let me tell you, it's not going to stop anytime soon. I hope this HODL journey will be awesome for all of us.

Technically if we are still in the bear market, so I wouldn't be surprised if there are still individual who doubt that the current run up to $35k is bullish enough. Yeah, being a long term holder has it's perks and this is one of them, I mean if you have started investing last year when we had our lowest low then it's already a huge profit for us.

But this is not the time to sell, and although again, there could be argument that we are still in the bear cycle, the market has rebounded already, might be sideways again, but I don't see another downside as we are getting closer to the block halving and every one is very excited about it. And there are a lot of time, still 5-6 months to go for the halving, good enough to continue to do DCA and accumulate.

hatshepsut93

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Quote from: ImThour on October 25, 2023, 11:28:44 AM

Many are still bearish and think it will go back but let me tell you, it's not going to stop anytime soon. I hope this HODL journey will be awesome for all of us.

There's always pullback after these long vertical candles, but the bearish trend is most likely over. Maybe the market will still be going sideways until the halvening, but I certainly don't see any way it can go on a long downtrend again.

I wouldn't even be surprised if it would turn quite bullish now, because everyone has high hopes for the halvening and its better to invest early for max profit.

OgNasty

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The price increase has been impressive given the market’s size. I’m personally pretty happy at the current levels but was growing concerned when we fell below he previous all time high around $20,000. Hopefully that was just a fluke because of FTX & covid. It would be nice if we saw another bubble in 2025 with a predictable blow off top.

kentrolla

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While i appreciate your understanding about Bitcoin and trust on Bitcoin but if you check how many of us were hodling bitcoin from the time it went rock bottom in November 2022 till now you will only find long term investors and few more as we go with emotions and end up taking making decisions which makes us regret and we never learn that's the problem. Bitcoin is undoubtedly an asset which will always bounce back post bear run and many can make such predictions but what matters theost is the trust and inder of community on Bitcoin which has to be upscaled.

karabiber

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Bitcoin's return from November 2022 to now is not bad at all. A twofold increase. Not counting the dramatic drop after ATH. The market has the opposite perception. It's as if Bitcoin is getting worse every day. The data supports that the best investment is made during the bear period.

Btc sees resistance in the 35 thousand dollars band. If we exceed here, I think we will easily see 40 thousand dollars and above until the Etf approval. The strong expectation that Etf will be finalized will take us back to the old bullish times with the halving of Bitcoin. However, I think we will see ATH and above in the last quarter of 2024. I hope I am not wrong.

salad daging

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It seems that this will soon go to $40K perhaps November will see that as a bullish sign.
Looking back at last year where bitcoin was at its lowest level now if we say the increase has been almost 100% if they buy at that price it will be very good to hold because the 127% gain now is still nothing compared to next year.

I wonder how November 2024 will be, will it be the next ATH? Will see how this reaction happens in the future expecting it to be sooner or the same thing where November after the halving rally has actually arrived.

Sunderland

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The chart looks awesome Oshosondy, and i feel the BTC price might spike more than 50k next year (could be a few months or a year after halving and the ETF thing)

The world economics just recover from the covid19 but the Russia Ukraine war and the tension in the Middle East maybe still far from the end.
More people or institutional might jump into crypto/btc to secure their money in this year.
Hype + Supply and demand law, more buyer/holder means the price will up.

Note: this doesnt mean i support any chaos or war in this world for the crypto price to be rising.

Odohu

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Quote from: retreat on October 25, 2023, 11:58:27 AM

I think the movement of Bitcoin may vary in the future and the current bull market is only temporary before it reaches the halving.

Are you suggesting there will be another major drop in price before the halving? In my opinion, I think we will see $45k even before the halving. Bitcoin is heavily influenced by news such as the rumours of ETF approvals. So, a lot of people are already aware that ETF and halving will lead to a bull run. So what I think market is doing is to find equilibrium before the halving; the possible places that will be is at $37k and $45k.

Quote from: retreat on October 25, 2023, 11:58:27 AM

But even so, the increase in the price of Bitcoin does not stop and HODLing for a long period of time seems worth it.

The need to hodl cannot be overemphasised. That is the sure way to make good gains in Bitcoin. Those who bought earlier part of the year and held till date are already in huge profit by now.

Zaguru12

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Quote from: ImThour on October 25, 2023, 11:28:44 AM

Many are still bearish and think it will go back but let me tell you, it's not going to stop anytime soon. I hope this HODL journey will be awesome for all of us.

Exactly there are many traders or investors that are even given talks that people that are willing to buy should wait for a little time and we could see a dip. Yeah I don’t want to carried away with all this uprising and say that a dip wouldn’t come, but it will be just too risky to sit out and wait for it. When it is coming isn’t known, with the ETF coming with its own FOMO, a price less than $30k doesn’t seem like something we will see just yet.

From the chart above by Oshosondy, if bitcoin follows same pattern or trend which it’s most like to follow and nothing like a bad news hits us, EFT gets approved with the hype around it, many people accumulating in time for halving, then $45k could even be the support or resistance level before halving even occurs.

My tip is don’t wait for any dip but accumulate and accumulate, the DCA method is the best to safe you that stress of waiting.

kryptqnick

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It's a wonderful way to look at it, op, focusing on the positive. It's more than 100% up from the bottom, and it's pretty good news. But let's not forget that it's been nearly a year since the bottom, although the price hit $30k or somewhat above it on multiple occasions since April 2023. I'm just saying that perhaps it'll take another year for Bitcoin to go above $70k, it's a very realistic timeline. So people need to be patient about it and not expect this to be a start of a very swift bull run. The price can continue going up and down.

retreat

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Yup, if we draw a line from the beginning of the year maybe we will see that the price of Bitcoin has increased, and an increase of 127% is a good performance for Bitcoin this year.
I think the movement of Bitcoin may vary in the future and the current bull market is only temporary before it reaches the halving. But even so, the increase in the price of Bitcoin does not stop and HODLing for a long period of time seems worth it.

Oshosondy

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History is repeating itself if bitcoin can go above $40000

Quote from: Oshosondy on August 14, 2023, 11:08:46 AM

ImThour

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Bitcoin Bottom was at $15.4k

As you all know, this week has been a great week for Bitcoin and the price has finally pushed the $34k mark, I have made a post earlier where I said $40k is incoming soon.
The best part is that Bitcoin is already 127% up from the Bottom in 2022 November when it was at $15.4k and now at $34.7k, it's literally amazing.

Many are still bearish and think it will go back but let me tell you, it's not going to stop anytime soon. I hope this HODL journey will be awesome for all of us.

Topic: 127% Up from Bottom in 2022 - page 3. (Read 489 times)