Bitcoin survived the Christmas market pressure - page 4.

TimeTeller

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Quote from: bestcoins1 on December 31, 2022, 12:45:57 PM

Quote from: S A KHAIR on December 31, 2022, 05:23:55 AM

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.

Odusko

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Quote from: S A KHAIR on December 31, 2022, 05:23:55 AM

Quote from: Yaunfitda on December 31, 2022, 04:08:18 AM

Nah, I don't think that people are expecting the demise of Binance, like the FTX collapse, I will say CZ is too smart to happen to him though.

.

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.

If you have been following up with recent events with centralized exchanges taking Binance and FTX as a center point of view, you will discover that.
FTX illegality was discovered through the involvement of binance CEO into the operation of the exchange when the offer was exchanged for sale.
At that point, even SBF confirm from an interview that he has failed in his leadership and role of the exchange and that at a point he was not in touch with the management of the exchange balance which investors entrusted in the exchange.
This and many more other incidences are what have led to the distrust you mentioned on centralized exchanges by forum members, but the chances that same will happen to binance is not certain as CZ know very well about risk management.

bestcoins1

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Quote from: S A KHAIR on December 31, 2022, 05:23:55 AM

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.

S A KHAIR

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Quote from: Yaunfitda on December 31, 2022, 04:08:18 AM

Nah, I don't think that people are expecting the demise of Binance, like the FTX collapse, I will say CZ is too smart to happen to him though.

.

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.

Yaunfitda

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Quote from: CryptoBuds on December 30, 2022, 11:38:32 PM

Quote from: ethereumhunter on December 30, 2022, 10:29:10 PM

Quote from: LittleBitFunny on December 30, 2022, 09:20:29 PM

Quote from: Silberman on December 30, 2022, 08:41:04 PM

Quote from: TimeTeller on December 30, 2022, 04:45:04 PM

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 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.

I think Binance is still going strong to date and it doesn't look like there will be any problems with Binance. And until now, we have to be grateful that bitcoin is still strong enough to stay at the $16k level and not fall too deep. Bitcoin will surely reach the target of $20k soon so we need not worry as it is only a matter of time that will tell. And if this $16k level survives into the next year, at least the first few weeks, the price will experience a reversal and hopefully it does so that it can return to the $20k level or higher soon. The target for bitcoin ahead of tomorrow's halving will be higher than before so there may be a rapid rise next year before 2024.

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.

Nah, I don't think that people are expecting the demise of Binance, like the FTX collapse, I will say CZ is too smart to happen to him though.

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.

CryptoBuds

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Quote from: ethereumhunter on December 30, 2022, 10:29:10 PM

Quote from: LittleBitFunny on December 30, 2022, 09:20:29 PM

Quote from: Silberman on December 30, 2022, 08:41:04 PM

Quote from: TimeTeller on December 30, 2022, 04:45:04 PM

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 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.

I think Binance is still going strong to date and it doesn't look like there will be any problems with Binance. And until now, we have to be grateful that bitcoin is still strong enough to stay at the $16k level and not fall too deep. Bitcoin will surely reach the target of $20k soon so we need not worry as it is only a matter of time that will tell. And if this $16k level survives into the next year, at least the first few weeks, the price will experience a reversal and hopefully it does so that it can return to the $20k level or higher soon. The target for bitcoin ahead of tomorrow's halving will be higher than before so there may be a rapid rise next year before 2024.

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.

G_Besar

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Quote from: n0ne on December 30, 2022, 06:40:38 PM

Patience is the key factor with cryptocurrency, how far this gives positive result depends on the activities happening around the market. Patience along with learning and observation about the market is required. This will ease the process of holding and help with the increasing demand.

For me, patience in facing bad situations in the market and surviving by continuing to hold the assets that I already have are the main things that I always consider. Because this is about my belief in what I hold for now, so I often ignore bad chatter about cryptocurrencies from other people because I am following the process by continuing to be patient in this market situation that has not improved.

ethereumhunter

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Quote from: LittleBitFunny on December 30, 2022, 09:20:29 PM

Quote from: Silberman on December 30, 2022, 08:41:04 PM

Quote from: TimeTeller on December 30, 2022, 04:45:04 PM

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 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.

I think Binance is still going strong to date and it doesn't look like there will be any problems with Binance. And until now, we have to be grateful that bitcoin is still strong enough to stay at the $16k level and not fall too deep. Bitcoin will surely reach the target of $20k soon so we need not worry as it is only a matter of time that will tell. And if this $16k level survives into the next year, at least the first few weeks, the price will experience a reversal and hopefully it does so that it can return to the $20k level or higher soon. The target for bitcoin ahead of tomorrow's halving will be higher than before so there may be a rapid rise next year before 2024.

LittleBitFunny

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Quote from: Silberman on December 30, 2022, 08:41:04 PM

Quote from: TimeTeller on December 30, 2022, 04:45:04 PM

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 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.

Silberman

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Quote from: TimeTeller on December 30, 2022, 04:45:04 PM

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.

n0ne

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Quote from: Fredomago on December 30, 2022, 05:21:05 PM

Quote from: kawetsriyanto on December 30, 2022, 04:40:55 PM

Quote from: Odusko on December 25, 2022, 12:17:37 PM

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?

NO, Bitcoin price is never stable around $16k all year round. The price is stuck around $16k-$17k just in the last few months of this year. It seems to have no change until this year is over, Bitcoin price will stay around $16k at the end of the last day of 2022. Well, I'm not surprised about this, 2022 is the first year of the bearish season, so we can't hope for a significant change at the end of this year.

I don't think BTC price will pass $20k in the early weeks of 2023. It requires time, if there is a lot of good news, $20k may be achieved in the second month or third month of 2023.

Good news might impact the directions of the market but needed as well with support of both investors and traders, we can speculate what might be the potential in the next following months, but we can't conclude that there's a quick market reversal that may take place, be ready in whatever the market condition next year, also anticipate that the chance of seeing another downfall can happen.

Patience and more research, key factors are always showing indication either it will bring the pump or it will lead to another dump.

Better to put all your knowledge before making any decision to avoid losing a lot of your investment.

Patience is the key factor with cryptocurrency, how far this gives positive result depends on the activities happening around the market. Patience along with learning and observation about the market is required. This will ease the process of holding and help with the increasing demand.

Fredomago

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Quote from: kawetsriyanto on December 30, 2022, 04:40:55 PM

Quote from: Odusko on December 25, 2022, 12:17:37 PM

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?

NO, Bitcoin price is never stable around $16k all year round. The price is stuck around $16k-$17k just in the last few months of this year. It seems to have no change until this year is over, Bitcoin price will stay around $16k at the end of the last day of 2022. Well, I'm not surprised about this, 2022 is the first year of the bearish season, so we can't hope for a significant change at the end of this year.

I don't think BTC price will pass $20k in the early weeks of 2023. It requires time, if there is a lot of good news, $20k may be achieved in the second month or third month of 2023.

Good news might impact the directions of the market but needed as well with support of both investors and traders, we can speculate what might be the potential in the next following months, but we can't conclude that there's a quick market reversal that may take place, be ready in whatever the market condition next year, also anticipate that the chance of seeing another downfall can happen.

Patience and more research, key factors are always showing indication either it will bring the pump or it will lead to another dump.

Better to put all your knowledge before making any decision to avoid losing a lot of your investment.

TimeTeller

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Quote from: kawetsriyanto on December 30, 2022, 04:40:55 PM

Quote from: Odusko on December 25, 2022, 12:17:37 PM

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?

NO, Bitcoin price is never stable around $16k all year round. The price is stuck around $16k-$17k just in the last few months of this year. It seems to have no change until this year is over, Bitcoin price will stay around $16k at the end of the last day of 2022. Well, I'm not surprised about this, 2022 is the first year of the bearish season, so we can't hope for a significant change at the end of this year.

I don't think BTC price will pass $20k in the early weeks of 2023. It requires time, if there is a lot of good news, $20k may be achieved in the second month or third month of 2023.

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.

kawetsriyanto

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Quote from: Odusko on December 25, 2022, 12:17:37 PM

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?

NO, Bitcoin price is never stable around $16k all year round. The price is stuck around $16k-$17k just in the last few months of this year. It seems to have no change until this year is over, Bitcoin price will stay around $16k at the end of the last day of 2022. Well, I'm not surprised about this, 2022 is the first year of the bearish season, so we can't hope for a significant change at the end of this year.

I don't think BTC price will pass $20k in the early weeks of 2023. It requires time, if there is a lot of good news, $20k may be achieved in the second month or third month of 2023.

Franctoshi

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Quote from: Odusko on December 25, 2022, 12:17:37 PM

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

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?

Before the Christmas we had a major sell off with FTX collapse News , which caused some investors to sell off their Bitcoin and also caused a lot of investors to move their Cryptos off exchanges and hence reducing further selling pressure in the price of Bitcoin.
Therefore less crypto in exchanges means people are not willing to sell anytime soon to cause futher sell pressure.

Secondly I think new buyers came in the market to buy some cheap Bitcoin with that price drop and that has helped the market to absorb the sell off pressure from FTX saga.

bitgolden

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Quote from: BitcoinPanther on December 29, 2022, 06:44:08 PM

It looks like the market won't break 20k in the early weeks of the year. The effect of the FTX fiasco is still lingering in the market. Aside from that the negative sentiment brought by several mining company that files bankruptcy hinder any good news that happens in BTC. There is also a negative effect from Binance being on a hot seat. All in all, the market is yet to have a better sentiment so with these factor being considered, we might see a sideways at best on the price of BTC for the coming weeks. A possible downward trend is also possible with these factor that I stated.

Early days of a new year is rarely a good time to go up, but February could be a good start. It is usually until February you do not see price changing gall that much, I do not know the reason but it's rare and after February then you start to see some changes.

I guess that we are going to end up with something like 50k in 2023 and in order to do that in February we are going to go above 20k, and in spring more like 30k, maybe a bit slow period for summer and end of Q3 and by start of Q4 we are going to start seeing closer to 50k prices. This is not going to be easy, or maybe I am wrong and it won't happen at all, but this is possible.

BitcoinPanther

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It looks like the market won't break 20k in the early weeks of the year. The effect of the FTX fiasco is still lingering in the market. Aside from that the negative sentiment brought by several mining company that files bankruptcy hinder any good news that happens in BTC. There is also a negative effect from Binance being on a hot seat. All in all, the market is yet to have a better sentiment so with these factor being considered, we might see a sideways at best on the price of BTC for the coming weeks. A possible downward trend is also possible with these factor that I stated.

KennyR

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Compared to other years, the spending during the Christmas days have got limited. This is out of the understanding people have over the market movement of bitcoin. If the people had tend to sell, now the price drop could've happened really bad. Majority of the people hadn't touched the cryptocurrency considering it a life changing investment.

STT

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Dont worry about Xmas pressure , think about the 50 day average, its capped the recent peaks once again; twice this is occurring in the last couple weeks.

Continuing to act negatively vs basic momentum like this could lead to wider selling from various sectors of the market. ie. we form a negative trend rather then trying to fight upwards as BTC often does.
All we can say slightly different is that 50 days will start to include the recovery post FTX (exclusively) and so we can observe the blue line for 50 day MA is moving slightly up there. If that continues that the average is positive, maybe pressure is relieved from BTC price action.

carlisle1

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Quote from: Ojima-ojo on December 29, 2022, 04:03:08 PM

Quote from: Adbitco on December 29, 2022, 10:22:03 AM

Most at times its very hard to truly predicts about the bitcoin price movement, basically people wouldn't like to sell at this period of time rather wanting to hold their bitcoin despite the pressure and the past occurrences yet it doesn't went below $13k although this bear market was so unbearable compared to 2017 bear market and therefore, from most of thread i have read so far there is no bull coming soon rather many speculation was pointing at after the 4 years bitcoin circle (which is after the bitcoin halving) then we would experience bull market.

This period of bear market became almost unbearable when the unfortunate FTX and Luna scam happened and sent the market into a red mood for this long, the year 2022 is nothing to be compared to 2017 because most events that happen in both years a widely different.

Because apart from the altcoin projects crash in 2017 there were no cases of exchange hacks or scams as we hard this year.

But this also may have put bitcoin on a downtrend price for so long but we can't drop any lower that we're we are now.

We can't guarantee that there is no big news that may pull the trigger and push the market for more downfall, the situation between
2017 and 2022 are different but the similarities will depend on how investors will react.

It's a tough assumption but if you do believe that Bitcoin will not suffer for more downfall then it will be a good time for you to add
more asset into your wallet then waits for the bounce back.

Making decision though is not easy but it's doable that you can earn compensation if you buy in the right timing.

Topic: Bitcoin survived the Christmas market pressure - page 4. (Read 1529 times)