Is this an indication of the bullish market in the year 2023 where Bitcoin will break 20,000 in the early weeks of the year?
but this is not enough to expect a 20k breaking just this closing the month.
Topic: Bitcoin survived the Christmas market pressure - page 3. (Read 1540 times)
Is this an indication of the bullish market in the year 2023 where Bitcoin will break 20,000 in the early weeks of the year?
but this is not enough to expect a 20k breaking just this closing the month.
In my opinion, end of year market pressure is typically to the upside. Bitcoin may be a little different as people cash out to take vacations and buy presents, but typically the end of the year is a bullish event. Bitcoin is holding up great though, especially with all of the calamity with scammers like SBF. It feels like the market isn’t going to go much lower though. I’d feel good about purchasing at these levels.
I also agree with you that, the end of the year should be bullish not a sale-off period even though many bitcoin holders will exchange their bitcoin for some other goods such as food and gifts, vacation bills and the rest of what have you.But this time bitcoin have sustained a good price benchmark throughout the period and to this point, bitcoin has sustained its stability since the survival of the FTX and Luna market crisis that rocked the entire market recently.
I don't think a lot of people sold their Btc's for Christmas stuff, since companies usually give out more during the holidays, so it might not be necessary to cash out your Btcs.
Besides, it's not really a good idea to sell during bear market, that's actually a waste of fractions of Btc. Well, not unless if you'd used it to pay for a service or product, payment directly with Bitcoin lol.
I feel like people are actually waiting now for Btc to touch $10k, coz that for sure a lot of holders will bulk buy when that happens. This explains why we've seen Btc stabilizing at this current price range.
To be fair, centralized exchanges are still very important to us. Without them, we would have actual difficulty trading as well as converting between crypto assets and converting to fiat would be very difficult. I agree that the collapse of FTX is a stain and brings a lot of bad reputation to CEX, but we need to recognize that FTX collapse does not mean Binance or Huobi will collapse, they have been in the market for a long and before FTX.
Yes, not all centralized exchanges are trash, we shouldn't lump them together.
That's what I mean, everybody can't put all the centralized exchanges together because it's just one of the many tarnished centralized exchanges in the last year. Moreover, in terms of the interests of each person, a centralized exchange must still be considered important because it has several features that can benefit many people so this should not be confused with FTX which only gives bad value to the exchange and tarnishes itself in the eyes of many people.Yes, not all centralized exchanges are trash, we shouldn't lump them together.
conversions and there are some people do make it as their main wallet (totally a foolish thing to do).Somehow with the recent events we do really make ourselves that do become that aware on what
are the probabilities and possibilities for these things to happen.This is why trying out to adjust and make yourself that free flowing on whatever things that would encounter along the way.
Speaking about holiday season then its not always on every year we do significant movement and this current one is no different.
Bitcoin survived even the New years pressure mate so Maybe we are still seeing more downtrend this year as 2023 must be another Bear as we are approaching the Halving sooner or in 2 years time.
Still looking for maintaining this Low as the range of 15-16k is the lowest so hope that bitcoin will kept this as we are looking for the bullrun in coming years.
at least we have crossed Christmas and New year staying this level .
Despite the down trend chart bitcoin survive one of the most buy pressure pwriod which is the festive season that just passed, if one have being following previous year, tou will noticed that at the period of between 20th of December to 5th of January there have always been a heavy Bitcoin price volatility resulting from the activities of Bitcoin holders and market behavior all around the world. Still looking for maintaining this Low as the range of 15-16k is the lowest so hope that bitcoin will kept this as we are looking for the bullrun in coming years.
But this year was an exceptional one as bitcoin have suffered from market attacks already from the FTX crisis and LUNA coin crash that effected the market and many thought rhe impact of those incidence will prevail higher in December, but that did not happen and bitcoin was a bit stable throughout the festive period.
To be fair, centralized exchanges are still very important to us. Without them, we would have actual difficulty trading as well as converting between crypto assets and converting to fiat would be very difficult. I agree that the collapse of FTX is a stain and brings a lot of bad reputation to CEX, but we need to recognize that FTX collapse does not mean Binance or Huobi will collapse, they have been in the market for a long and before FTX.
Yes, not all centralized exchanges are trash, we shouldn't lump them together.
That's what I mean, everybody can't put all the centralized exchanges together because it's just one of the many tarnished centralized exchanges in the last year. Moreover, in terms of the interests of each person, a centralized exchange must still be considered important because it has several features that can benefit many people so this should not be confused with FTX which only gives bad value to the exchange and tarnishes itself in the eyes of many people.Yes, not all centralized exchanges are trash, we shouldn't lump them together.
In my opinion, end of year market pressure is typically to the upside. Bitcoin may be a little different as people cash out to take vacations and buy presents, but typically the end of the year is a bullish event. Bitcoin is holding up great though, especially with all of the calamity with scammers like SBF. It feels like the market isn’t going to go much lower though. I’d feel good about purchasing at these levels.
I also agree with you that, the end of the year should be bullish not a sale-off period even though many bitcoin holders will exchange their bitcoin for some other goods such as food and gifts, vacation bills and the rest of what have you.But this time bitcoin have sustained a good price benchmark throughout the period and to this point, bitcoin has sustained its stability since the survival of the FTX and Luna market crisis that rocked the entire market recently.
In my opinion, end of year market pressure is typically to the upside. Bitcoin may be a little different as people cash out to take vacations and buy presents, but typically the end of the year is a bullish event. Bitcoin is holding up great though, especially with all of the calamity with scammers like SBF. It feels like the market isn’t going to go much lower though. I’d feel good about purchasing at these levels.
The price of bitcoin is unrelated to its performance. In the now famous covid crash of 2020 bitcoin went down by a lot and this had nothing to do with it but with how the US stock market reacted to the announced lockdown.
Bitcoin was doing fine, there was no bad news and it crashed from 9000 to 3000. What's happening now is a very similar situation where bitcoin is doing ok but the US stocks are going down and putting pressure on companies who are invested in both stocks and bitcoin and those who borrowed money to invest in bitcoin.
This is why you shouldn't care about the price. Bitcoin can be worth 10000 dollars tomorrow and 20 thousand next week. It doesn't matter unless you think you know what the next move will be and will try to capitalize on that.
Bitcoin was doing fine, there was no bad news and it crashed from 9000 to 3000. What's happening now is a very similar situation where bitcoin is doing ok but the US stocks are going down and putting pressure on companies who are invested in both stocks and bitcoin and those who borrowed money to invest in bitcoin.
This is why you shouldn't care about the price. Bitcoin can be worth 10000 dollars tomorrow and 20 thousand next week. It doesn't matter unless you think you know what the next move will be and will try to capitalize on that.
Bitcoin survived even the New years pressure mate so Maybe we are still seeing more downtrend this year as 2023 must be another Bear as we are approaching the Halving sooner or in 2 years time.
Still looking for maintaining this Low as the range of 15-16k is the lowest so hope that bitcoin will kept this as we are looking for the bullrun in coming years.
Bitcoin survived much worse before, these are not really big deals. Having market pressure doesn't mean a trouble if there is no pressure and there are buyers, when you have Christmas and new years "pressure" as in sellers, but there are buyers as well then the market stays afloat and nothing happens. I personally believe that the best thing to do about bitcoins future is to keep it at bay.Still looking for maintaining this Low as the range of 15-16k is the lowest so hope that bitcoin will kept this as we are looking for the bullrun in coming years.
What I believe to be the case here is the feelings and emotions of people who are not entirely sure what's going to happen next and fear it instead of being hopeful. They are both emotions but some prefer fear over hope and that's the trouble for the market.
Bitcoin survived even the New years pressure mate so Maybe we are still seeing more downtrend this year as 2023 must be another Bear as we are approaching the Halving sooner or in 2 years time.
Still looking for maintaining this Low as the range of 15-16k is the lowest so hope that bitcoin will kept this as we are looking for the bullrun in coming years.
Still looking for maintaining this Low as the range of 15-16k is the lowest so hope that bitcoin will kept this as we are looking for the bullrun in coming years.
Was there any pressure, its been pretty sideways since November. Here I took a slim slice of the chart that mostly describes price action for that period, only a small part is really missing here as we have maintained quite a restricted range imo
at least we have crossed Christmas and New year staying this level . 
Was there any pressure, its been pretty sideways since November. Here I took a slim slice of the chart that mostly describes price action for that period, only a small part is really missing here as we have maintained quite a restricted range imo
This is daily and we are intersecting with the 50 day average mostly as a consequence of this continual drift and even where we make an attempt upwards or down even then we resolve back to this area once again. Hence I do not perceive pressure especially more a magnetised area some might say Support but I dont assume that we have to hold here before rising later only that there is not enough of a trend either way to move us off the rocks we have beached upon.
This is daily and we are intersecting with the 50 day average mostly as a consequence of this continual drift and even where we make an attempt upwards or down even then we resolve back to this area once again. Hence I do not perceive pressure especially more a magnetised area some might say Support but I dont assume that we have to hold here before rising later only that there is not enough of a trend either way to move us off the rocks we have beached upon.
To be fair, centralized exchanges are still very important to us. Without them, we would have actual difficulty trading as well as converting between crypto assets and converting to fiat would be very difficult. I agree that the collapse of FTX is a stain and brings a lot of bad reputation to CEX, but we need to recognize that FTX collapse does not mean Binance or Huobi will collapse, they have been in the market for a long and before FTX.
Yes, not all centralized exchanges are trash, we shouldn't lump them together.
That's what I mean, everybody can't put all the centralized exchanges together because it's just one of the many tarnished centralized exchanges in the last year. Moreover, in terms of the interests of each person, a centralized exchange must still be considered important because it has several features that can benefit many people so this should not be confused with FTX which only gives bad value to the exchange and tarnishes itself in the eyes of many people.Yes, not all centralized exchanges are trash, we shouldn't lump them together.
The main reason why stuff like DeFi became this big is because there are a lot of people who would hate CEX to begin with and some business people used that hatred and built DEX to convince many people. All in all there is nothing wrong with Binance for example and yet there are a lot of people who spread rumours about that not being good at all as well. This is why I believe that we shouldn't be really worried about it personally, it's just rumours.
To be fair, centralized exchanges are still very important to us. Without them, we would have actual difficulty trading as well as converting between crypto assets and converting to fiat would be very difficult. I agree that the collapse of FTX is a stain and brings a lot of bad reputation to CEX, but we need to recognize that FTX collapse does not mean Binance or Huobi will collapse, they have been in the market for a long and before FTX.
Yes, not all centralized exchanges are trash, we shouldn't lump them together.
That's what I mean, everybody can't put all the centralized exchanges together because it's just one of the many tarnished centralized exchanges in the last year. Moreover, in terms of the interests of each person, a centralized exchange must still be considered important because it has several features that can benefit many people so this should not be confused with FTX which only gives bad value to the exchange and tarnishes itself in the eyes of many people. Yes, not all centralized exchanges are trash, we shouldn't lump them together.
Yes, the traditional blue chips and tech stocks fall too, of course they are less volatile but they are not spare from the bad effects of the current world economy and it spill over to crypto market that's why we are in the bearish sentiments, worst ever for us. But yeah, we are still here standing and so we have survived. But there is still another year ahead of us that might be the same or worse as well. So just prepare ourselves and expect the unexpected as they call it.
People who don't like centralization, don't like altcoins, all expect Binance's demise, because for them only then will the market become clean and free of dirt, for them, just one bitcoin is enough. But for us, it's a different matter because we need to exchange altcoins, convert fiat, trade...
As I said, this year has been a very volatile year for all financial markets, we used to say that stocks are less risky than cryptocurrencies, but I think things are changing. Investing in stocks or crypto is equally risky.
This is a drop for the top tech stocks, and there's no guarantee they won't continue to fall this year.
CEX is still very important, without it we would have a lot of trouble converting to fiat or vice versa. But I suspect that the people who keep saying that all CEX will collapse are still quietly using it. Since without it, I don't believe they can convert altcoins to each other, trade, and convert to fiat. Fiat is still the main currency, without it we would not exist.
This means that for now there are still CEX which are very good and not bad for use as needs such as converting coins into fiat and vice versa. This means that not all CEXs have the same fate even though conceptually they are not much different, but everyone who still uses CEXs to make deposits or convert coins to fiat, obviously this is based on their faith and trust in the CEX so they are not afraid of certain CEXs. also can still happen bad things that are not desirable. 
Many people on this forum don't like the existence of centralized exchanges and they consider it garbage, yes centralized exchanges are risky but it is really necessary for us. I also believe that Binance will not die but will become stronger after this Fuds chain ends. Even if Binance collapses, other centralized exchanges will develop, and it is always necessary for us, we should not deny that fact. As long as we use it wisely, we will be safe.
I don't think there are many people in this forum who think that way of centralized exchanges, because other than that I haven't done any research on it. Not all centralized exchanges are trash so everyone shouldn't think centralized exchanges are trash because there are plenty of centralized exchanges that are still very good to use. Anyway it wouldn't be logical to think of it as trash just because of one or two centralized exchanges that have gone bad at this point.To be honest, a lot of us are still relying our trades in some of these centralized exchanges.
For those who are saying all CEXs are trash, for sure, at one point they are also using their services.
One of the important service right now for me is the P2P offered by some of them like binance and kucoin.
Their rates are better than my local crypto-exchanges, and it is quite easy to transact also.
But sure, we should keep in mind that we should not store our funds to these exchanges, no matter how reputable they are.
It is always best to hold your coins in your wallet, where you are holding your own keys.
I don't think it is fair for some of them to be identified as garbage, if many people are benefitting their services.
CEX is still very important, without it we would have a lot of trouble converting to fiat or vice versa. But I suspect that the people who keep saying that all CEX will collapse are still quietly using it. Since without it, I don't believe they can convert altcoins to each other, trade, and convert to fiat. Fiat is still the main currency, without it we would not exist.
Merry Christmas and happy holidays!
So i decided to start this short thread to speculate on BTC Christmas price cycles pull back, if you study Bitcoin market chart in 2017 the present Bitcoin price is the same, but in 2017 Bitcoin before the month of November 2017 was on a bullish market trend and some form of sell pressure hit the market during the Christmas holidays.
But this year, 2023 Bitcoin hard a strong resistant price level during the period of 20th to 25th which is Christmas most activities and time for family shopping and family spending where the banking system may pause a constraint to effective transactions and alternatives are sort after, Bitcoin and other digital assets become the order of the season which make Bitcoin price to pull back.
This year Bitcoin price is stabilized at around 16,000 + which is a good resistant level and a benchmark that represents previous years' bullish all-time high price.
Is this an indication of the bullish market in the year 2023 where Bitcoin will break 20,000 in the early weeks of the year?
2022 was a tainted chapter for crypto. The way Bitcoin and other leading cryptocurrencies have fallen over the past year has been worst for investors. BTC is down 76% so far and ETH is down 75.5%. Other altcoins are also facing worse situation. Some alt coins are already down as much as 99 percent.So i decided to start this short thread to speculate on BTC Christmas price cycles pull back, if you study Bitcoin market chart in 2017 the present Bitcoin price is the same, but in 2017 Bitcoin before the month of November 2017 was on a bullish market trend and some form of sell pressure hit the market during the Christmas holidays.
But this year, 2023 Bitcoin hard a strong resistant price level during the period of 20th to 25th which is Christmas most activities and time for family shopping and family spending where the banking system may pause a constraint to effective transactions and alternatives are sort after, Bitcoin and other digital assets become the order of the season which make Bitcoin price to pull back.
This year Bitcoin price is stabilized at around 16,000 + which is a good resistant level and a benchmark that represents previous years' bullish all-time high price.
Is this an indication of the bullish market in the year 2023 where Bitcoin will break 20,000 in the early weeks of the year?
When the Federal Reserve raises interest rates, it does not create a positive environment for either cryptocurrency or the stock market. Besides, bankruptcies and chaos were regular in the market last year so every one assume that BTC would move downwards. This ongoing crypto winter in 2023 may last longer this time. Inflation, rising debt costs and political instability have been at their highest level in the past 40 years, mainly due to macroeconomic factors, particularly after Russia's invasion of Ukraine.
Easing inflation and lowering rates are the only options that can help crypto now. We hope to see positive results for all things in 2023 which will revolutionize crypto again.
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Just be grateful that we haven't gone down much below 15k, where a lot were speculating that btc will touch below 15k.
If we will sustain this level and if good news will come in the next few days, we may start seeing it to increase.
Otherwise, that's fine. Seems that we have had already received all the negative news this year.
The Luna crash, Voyager bankruptcy, FTX drama and other defi projects that were "hacked" were just few of the big news this year that made impact in this market.
We are hoping more positive news will come this new year. $20k level may not be immediate but we may see it again in the future.
While things could always get worse the only way for this to be the case is if the binance exchange collapsed during the next year, and since it does not seem as if this is likely then we can be pretty sure that we are close to the bottom, now we do not know for how long we are going to remain there, but even if this continues for a long time we need to see this as an opportunity as this means we are going to have many months to save our fiat and then invest it in bitcoin at a reasonable price.If we will sustain this level and if good news will come in the next few days, we may start seeing it to increase.
Otherwise, that's fine. Seems that we have had already received all the negative news this year.
The Luna crash, Voyager bankruptcy, FTX drama and other defi projects that were "hacked" were just few of the big news this year that made impact in this market.
We are hoping more positive news will come this new year. $20k level may not be immediate but we may see it again in the future.
If Binance crashes, then we will see $5k per bitcoin, not just stop at $15k, and we may take years to recover not 2024. In my opinion, the $20k target should be reached by 2023, but before the bull run bitcoin needs to drop one more time below $15k and maybe $12k-13k. There's no need for Binance to crash, but as long as the Fuds about Binance continue to spread and some FTX-related companies or projects declare bankruptcy, bitcoin has a reason to drop below 15k.
We are bullish next year as we have experienced a year of continuous decline, but I do not believe the market will move with our thinking.
Many people are expecting the demise of binance, but I believe it will not happen now and in the near future. Fuds about Binance are not powerful enough to topple Binance, it's not over yet, but I'm sure that Binance will keep the #1 spot in the market.
If you are also following the group of technology stocks, which are considered less volatile markets, this year they also have drops of up to 80% and 90%. So $16k is not a bad end for bitcoin in a volatile economic year.
But I'm looking to invest more in bitcoin, so I don't expect bitcoin to recover and hit $20k in 2023, I want to drop more before bitcoin recovers.
If all markets are still volatile, there is a possibility that they will switch to crypto because the opportunities are still big and they can participate in investing. This will support crypto to reach more people to know about crypto and invest in crypto.
You can still invest in bitcoin right now because the price hasn't increased significantly and is still stable at around $16k and don't wait for the price to start increasing.
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Many people on this forum don't like the existence of centralized exchanges and they consider it garbage, yes centralized exchanges are risky but it is really necessary for us. I also believe that Binance will not die but will become stronger after this Fuds chain ends. Even if Binance collapses, other centralized exchanges will develop, and it is always necessary for us, we should not deny that fact. As long as we use it wisely, we will be safe.
I don't think there are many people in this forum who think that way of centralized exchanges, because other than that I haven't done any research on it. Not all centralized exchanges are trash so everyone shouldn't think centralized exchanges are trash because there are plenty of centralized exchanges that are still very good to use. Anyway it wouldn't be logical to think of it as trash just because of one or two centralized exchanges that have gone bad at this point.To be fair, centralized exchanges are still very important to us. Without them, we would have actual difficulty trading as well as converting between crypto assets and converting to fiat would be very difficult. I agree that the collapse of FTX is a stain and brings a lot of bad reputation to CEX, but we need to recognize that FTX collapse does not mean Binance or Huobi will collapse, they have been in the market for a long and before FTX.
Yes, not all centralized exchanges are trash, we shouldn't lump them together.
What i understand i Bitcoin is that, the price going up doesn't have any seasonal point the way I'm seeing it, so Bitcoin price as many people will say about it increment on one particular time, so i believe that Bitcoin have it way and it time of growing, some times some people said that it have occasionally time the price of Bitcoin increase, the price increase whenever the buyers comes into the market, so i believe that.
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