Topic: 127% Up from Bottom in 2022 (Read 489 times)

When the market is excited, everyone becomes greedy, is it time for us to be more careful? Bitcoin increased a lot in October and November and there has been no correction yet. So, instead of expecting a continued bull run, should we think about a correction first? Even during bull season, bitcoin will have corrections before coming back to create new ATHs, so don't be too subjective and assume bitcoin will continue to rise from here without any correction. Personally, I will be more cautious when bitcoin hits $39k-40k.

Yes, and with that, the bullish sentiments will go and continue for this month. We have reach almost $39,000 and I wouldn't be surprised if by Monday when everything is back we could make another push to it or even the next round numbers - $40,000 which is going to be big for us if we touches that this month.

Nevertheless,  we have a lot of time till the end of the year.

And there are a lot of things that might come, a very positive news that will push the market to at least $45,000-$50,000 pre-halving price. However, I do hope that there will be no selling at December as usually there could be some investors wanted to take profits for Christmas and New Year holidays.

Now we are above 37k, so we can say that it is getting even better and should be considered a little bit better compared to even when this topic has started, that's an important thing. At around 34k or so when this topic started, we are %!0 better than when it did, and that is just since OP wrote the topic, if we look at the bottom in 2022, we are MUCH bigger, more than double, from 15k to 37k, that is a serious increase without a doubt. I hope that we can continue with this type of increase, I would love to see another %150 or so increase in a year, that would make it worthwhile to keep holding it. I believe it could definitely end up with a greater increase too, potentially even higher.

I feel like it is doing fine, there is no need for anything major or bigger to happen, we are doing fine so far and keeping that up would be more than enough. I get that not everyone could reach the same level of devotion to bitcoin, and some people will have some sort of suspicions regarding the situation, but that doesn't change the fact that we are going to end up with anything major, we need to just make sure that we can keep it going as long as possible.

I believe that we are going to end up with anything that would  be silly, and we need to arrange something that could make a bit more changes. I believe that we are going to have some good returns in the near future, I can sense that 40k+ would be possible before the year ends, that seems like a good possibility.

We might have different way of analyzing the market but we have the same perspective of what will probably happened next to the price. I believe that the bullish trend occur after breaking $25k resistance which is a confirmation.

It's 149% up and I think there's more to come. If we see a dump of price in the near future, we don't have to worry because it's just a pullback before the price continue to go up.

Bitcoin must rise in bid for its recovery over a long time bear market, we are still in more expectations to see the market going more as it has achieved $37,000 and before the next halving approaches, we would have been in a long way far in the bull market, yet we should still know that at the moment now, the bullrun has not started yet, we are still working towards the last all time high and from there we move on towards the next year target.

Bitcoin prices are more or less affected depending on the number of bitcoins sold on the market, if a large amount is sold for profit, a deep decline in bitcoin is inevitable.
But another scenario can also happen, don't forget that this market does not only have retail investors like us.  the market also has sharks, whales, market makers...so maybe when people try to sell their bitcoins, market makers can also push the price higher instead of letting the market discount.  therefore, the idea of selling during the holidays and buying back later also carries certain risks, we cannot know what will happen next.

I think they have every reason to sell off specially if they needed some money or if there is a emergency. But for me, I will stick to what I do best, that is to hold as long as I can and long for the long term. The bull run is just around the corner, I know it's next year, but we don't that time flies very fast in crypto market. So it's better to have a patience and not sell impulse selling.

If ever there will be a pull back, I'm seeing like $32k will be like the price that we are going to see if there is a huge sell off that is coming. On the other hand, the price seems to be very steady though, we went almost $39k, corrected to $36k and now we are in the mids $37k. So there's a lot of movement that the chance to go to $30k-$32k might be slim at this point.

Now that I saw this thread, I remembered a user here who created a thread, and basically the contents of that thread is him selling his land property then used all of that money to buy Bitcoin. Take note that at the time he created the thread and bought Bitcoin, the price of it was near the bottom. I guess around $18,000 more or less.

If you're here and you read this, quote my post and link your thread that you created. Bottomline is those who took risk at when the market is down a few months ago are the ones who have the most profits right now. Those who bought Bitcoin at near $17,000 or let's just say $20,000, they nearly doubled their money already. Holding it for a few months, and there's a chance that their money might triple or even more.

It's all about risk, and decisions. You take the risk, and you make good decisions, you will get profit. You take the risk, didn't follow the herd, and did the opposite then there's a chance that you will double your money in no time.

This is the reason why I don't want to follow what most of the people are doing. This is also the reason why my funds for investing, and for travelling are different. I don't want to sell my assets just for the sake of holidays.

I agree that there are some who might take profit in December because they need money to be used in the holidays. I will do the opposite especially when the halving is just a few months after December. Just a little bit of patience, and forget selling during the month of December. I will just celebrate after I sell all of my assets during the bull run.

Well, it's my own strategy only, and don't criticize me.

Figures like this are good to write down to remind us why BTC can sell off early before its done with the full gain.  People who have been holding this entire year want to cash out some of their gains which is totally natural.   That harsh pullback does not mean its the new lower price, no price is an absolute truth that cannot be disputed its only correct in that moment to match buyers and sellers together.
   Most obvious inaccurate prices is when people rush to sell at any price, so fear events do this and often it will correct back up also hence the V formation on a chart.   I reckon we can get 30k now and it'd be ok still, I will surprised with no proper pullback at all theres always some kind of test in a healthy bull run.

I'm not surprised that price of bitcoin will get to increase to  thirty four thousand [34k] and later tye price of later increase or clamped to thirty five thousand [35k] and still come down, so therefore we can not say that the price of bitcoin will continue to be increasing or say when it's fall's we say that the price will continue to be falling, I will say that in 2023 being this year that the price of bitcoin will continue to accelerate to the extent of reaching forty thousand, so it maybe that next year we will not experience bullrun as we expected.

Or we could also look at it this way, even if there are sellers during the holiday, the price might not be affected, or if there is such a effect, it will be minimal or we might not felt it as there are still potential buyers in the sidelines waiting for this weak hands to sell this holiday. So still good though, at least the liquidity of the market is high and that the volumes is also steadily climbing.

So why not take profits this December? it's not that bad and then try to re-buy in January? Still it's a win win situation for those investors, enjoy their profits whatever it is during the holidays and then go back in the market the soonest for another start of the year run to us.

It's amazing when I look at the graph above. Digital currencies have historically been very volatile and people are always shaking their heads when they see their potential.

Maybe Many of us may have been following Bitcoin but in this case I am also following developments and waiting for the 40K milestone to become possible this November where Quantity is open for further execution.
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It would be reasonable for the price of bitcoin to go down at the time, as even if its potential to generate profits is still untapped for the most part during this period, at the same time I am sure there are many people that have obtained good profits with their bitcoin investment already and they may like to take advantage of this by selling some of their bitcoin so they can afford all kind of gifts during the holidays, but such a movement will be nothing more than a correction that should have no long term influence on the overall upwards direction of the market.

Yeah, most likely there could be some profit taking as December is holidays, and everyone wanted to have fun with their families, maybe go on a vacation so they will have to take some from their stash and sell for money.

But we are still good though if the price goes back to $30k'ish in January, usually at the start of the year it will be slow to us and then most likely pick it up leading up to the bitcoin block halving.

So it's understandable, the most important thing for those who sell is to still pick up some at the start of the year and continue to accumulate as much as they can.

42k dec 1 48k jan 1

some profit taking in jan so we may drop back into 30s.


This would be a duplication of the 2015 fall uptick.

As I've always read, people buy Bitcoin at the price they deserve. Many were bearish at $25,000. Many were still bearish at $20,000. And then some remained bearish at $15,000. They didn't buy. Even at this point when the price has already hit $35,000, some are still saying that it could still go back below $25,000. It may or may not happen but if you keep on thinking of the bearish possibilities, it's either you might not be able to buy at all or you are destined to buy at a much higher price. You better have the courage to do the buying now.

Another solid reason for me to believe that we are already in Bull run but still in the accumulation phase because we clearly saw that the price can skyrocket 5-6k$ in 3-4 hours which is insane. Also this demonstrate that the next bull run could have a solid potential to be the biggest one from all aspects and if that happens , Bitcoin could easily hit 80k in the next bull run. 

Are you able to take profit? Then why sad?
We cannot chase the market all the time and taking profit is a must, if you still see Bitcoin to continue to rise then buy again and use that profit to reinvest. The market is getting better but it doesn't mean we can't take profit, the moment you realize the importance of taking profit I'm sure you'll do it over again. Bitcoin will grow more, do DCA today and you won't regret it.

More has to come. This is just the beginning. I have seen many people underestimating the capacity of Bitcoins. Hence they are the ones who are excited to see this rise. Hardcore Bitcoin investors already know that these jumps are normal. They also know that Bitcoins are way more valuable than this. Hence, they will keep on holding and if possible they will buy more Bitcoins in this price. A large price hike has yet to come, so we all should be prepared for it.

I am really sad I was very impatient with my Bitcoin orders that I gave around 25-26k levels. I was worried we may drop down to 20k so I dumped a lot of Satoshis around 28k levels. I literally cut myself from foreseeable profits. Bitcoin is truly good asset. I wish it could be even more cheaper so I can start to rebuy. 40k doesn't look impossible to me at this point. Its going so good.

The masses often react to this market once bitcoin achieves a new ATH, that is when they finally realize that bitcoin is not dead and that it is once again giving signs that its price could erupt at any moment, then they decide to come to this market and buy what they can and this is what makes its price to surge violently, so even at the current price bitcoin is a good investment and it is important to keep accumulating as many satoshis as we can, as once those people make a move the only thing we can do is to enjoy the upcoming profits we will get.

I agree that the price isn't enough to convince them for now. But those that have been out of the market for sure have seen this push and they're getting back knowing that halving is around the corner. The strategy that they're doing is to get onto the market when the movement is so fast that they can't ignore it anymore and the price that can't be ignored anymore of how high it can go.

If we get this point as the support and becomes the stabilizing level, that's much better and we're really in a safe position before any corrections or skyrockets.

We don't need to judge people who are pessimistic about the price of bitcoin, even though the market has experienced an increase of 127%, they are still pessimistic about the current increase in the price of bitcoin and their assumptions are just a temptation from market patterns before the price falls, so it's better to stop following their accounts and we remain focused on the increase in bitcoin prices reaching ATH in the future.

The sideaway market position between 33-34k is still a safe position from the impact of market corrections, the market has the potential to reach a price of 40k at the beginning of next month, and we hope that there will be no negative issues that will have an impact on worsening the market situation.

The title partly explains why we will sell off those gains, they are so impressive and some of the money is leveraged.   As we know Dollar is being tightened or some attempt in that is occurring with higher rates and bond prices presumably attractive to some even if the stocks might be considered not cheap the BTC price is not in isolation.   We have to compare and contrast, if we do that the sell of BTC after gains becomes more of a normal event with profit taking and people paying their bills.
  BTC is non fractional in a fractional leveraged world, hence why it whips around so much imo we can see people sell it in the 30's price area.

I agree with you. So far, the masses are still very pessimistic and still believe that BTC is dead. We have already seen the price double this year and yet many people still think badly of it. However, this is a good sign, so we can assume that BTC has not yet reached its maximum. It can go further.

The only hope for those people who are not yet well-positioned for the next bull cycle is a Black Swan, which one possibly could happen because of the unpredictability caused by some macro-economic and geo-political conditions that are currently happening around the world. Plus I don't want to be bleak, but I believe World War III is becoming a possibility as tensions in the Middle East rise. There are prophecies written that that's where the next Great War will begin.

Aww thank you, in all my years on this forum I don't think anyone has ever said that exactly. Not that I need validation and not that I think trading is bad. I just think it's not for everyone, being making past mistakes myself.

The thing is, traders like to say what you did, that any market condition is good since they can short or long. But real reality is traders find it very hard to change tactics from "buy low sell high". Investors only have that tactic to practice hence they do better.

HODL is the best decision, especially since the market situation is improving. We will probably see another surprise from Bitcoin in the next month or December, later this year. And if we can continue to HODL Bitcoin, we will again have the opportunity to make big profits. A new ATH will be reached again even though we don't know when.

It looks like the bearish position has slowly shifted to a bullish position. Even though the bullish position is not visible, the price tends to look sideways from time to time. This means that the price of Bitcoin is moving in a better direction, even though we don't see an immediate increase to the highest price.

For now, doing DCA is still the best way to prepare for the arrival of the bull market. And if we already have a lot of Bitcoin, we can wait for the bull market to happen and not worry about its price movements.

The rally from the bottom has been explosive, but not enough to capture mainstream attention yet. Plenty of people I talk to still think Bitcoin has crashed and burned. When Bitcoin starts being thrust into everyone’s faces again I think the rally will be tremendous. Most people aren’t interested and we’re at $34,300. It won’t be long now.

Bitcoin price is just running for increasing every two day's the price will change, so the thing is that their is every tendency that bitcoin price will reach to forty thousand [40k] before the year runs out, so I'm saying the predictions is base on assumptions and individual predictions.

We all know that bitcoin price always rise and fall in which we can not stand here and make conclusions and also give people hope that bitcoin price will reach forty thousand [40k] so their is some certain things that is reliable and believable, but when you come to bitcoin predictions almost all the predictions of bitcoin none come to reality about increment of bitcoin.

The price of bitcoin do rise now and fall base on the gravity of the investors into cryptocurrency generally and mostly in bitcoin market, so I do believe that bitcoin can fall from thirty four thousand [34k] which is the current price to twenty five thousand [25k] because this has been nature of bitcoin from unsent, so I can decide or come inclusions that the price of bitcoin will hit forty thousand this year base on the positivity we are seeing in bitcoin price this October.

The chance of bitcoin falling and rising is equivalent in cryptocurrency industries, like me I have the confidence that when bitcoin will be fully increase is in 2024 after halving, but their is every possibility as I'm portraying that bitcoin price can rise and also fall at any point in time.

You can do this because you have the mentality of an investor, while most of those that call themselves this way do not really have the requirements to become one, an investor takes advantage of the market conditions whatever they may be, if the price is going up then that is a good thing as the value of your portfolio is going up as well, but if the price goes down then this is good too as you can buy valuable assets for a price way lower than their real worth.

Rather, my memory doesn't really feel like it depends on any particular BTC price. I know people get all excited or all depressed at certain prices but for me I actually feel quite happy in low deals since I just actually practise DCA.

The cheaper, the better, I never worry. November you mention seems even more recent than I remember so I'm definitely not affected by FTX lol. I remember Luna nonsense first, and then the next 6 months of drama were just to me like expected telenovela.

You're correct dump doesn't look possible now but remember, last big mega dump was 2 or 3 months before halving, IIRC

Exactly, even if there will be no more really dip, it's always good to buy because, for me, it is better to buy than to miss the opportunities to buy because of too much waiting for the dips.
For me, buying on confirmation is also better than buying with dips, at least somehow you have some confidence to continue the price hike.

Indeed this week has been a smiling week for most bitcoiners, I can't say that this same experience is intended to the traders because they take their own risk differently from the kind of trade they to into, but every holders of bitcoin would have realized that huge improvement on the market and how the sentiment was set to fight against going any dip than where we are, i was busy giving a closer study on the chart when i discover how the resistance towards $34,000 lower had been made strong and all i could deduce is more stay between $34,100 and $34,600 lately, which means we are like to break this zone to $40,000 sooner, if the market continues and the resistant persist against dip.

Truly bad. Hahaha. But there will always be more DIPs and more opportunities to buy Bitcoin at a discount. Although they may not be the DIPs that many people want, those will be the kinds of DIPs that will make it easier for your mental health and sanity because they will form higher lows. Those DIPs won't disappoint you.

This is bad. I was hoping to see more times to buy Bitcoin at a price less than 30,000, but it seems that the wheels of the train have moved. Let us hope that Bitcoin maintains levels near 30,000 and does not move quickly. In general, until March it reached the price of 40,000 to 50,000. The possibility of 100,000 during 2024 will be very possible.

Lol, it seems that you have a short memory, but for us it is still fresh from November last year as we have to endure the FTX collapse news and how it put a dent on the market. But looking it, sometimes it's better to see that happening in our market. I mean, we don't pray that we see black swan event like this one. But it shakes the market and what's let is those investors who what we wall the diamond hand.

I'm not sure if we will see a big dump though, I mean it's almost the end of the year now and investors are looking for the block halving next year. So we might see pre-halving at $50k. So as others said, just continue to accumulate and see how it goes in the next bull run for us.

HODLing will forever be worth it, I don't know when has HODLing not become a worth it. Of course it will always vary, there's no direct and absolute direction for the market even if everyone believes that bitcoin will not go down at "this" price but then the markets proves everyone that that "this" price has become a reality. I'm not trading a lot and I'm not a graph guy so I was surprised that the overall market performance of bitcoin is still pretty much on the positive side, I guess it's all the bearish news that I've been seeing while scrolling through my social media that got me to think that bitcoin isn't doing well but I guess I'm proven wrong and I will gladly take that I am wrong in that stuff.

Let me help you with that.



If Quantitative Tightening/rate hikes in the United States and in a few, but important, regions around the world have done the job by early 2024, then by Spring 2024 perhaps we'll see a pivot to Quantitative Easing and BRRRRR-Money-Printing that would start a massive surge on ALL asset prices. Bitcoin's bull cycle from 2019 to 2021 didn't have a massive surge like it had during 2015 - 2017. I believe it will for cycle 2023 - 2025.

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?

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.

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.

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.


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.


Yeah.

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.

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.

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.

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.

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.

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.

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.

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.

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.


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.

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.

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.

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.

History is repeating itself if bitcoin can go above $40000

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.