Bitcoin survived the Christmas market pressure - page 6.

kotajikikox

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

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?

as long as we are not crossing the End year ? there are nothing good to speculate even if it survived the Christmas still there are days for the New year and mostly that is the deciding factor to what would be the faith for the next year.

was expecting something better in days come but has bearish potential in the beginning of 2023.

Fundamentals Of

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Those who planned to sell their Bitcoin during Christmas probably sold already much earlier. By Christmas time they didn't anymore have Bitcoin left to be sold. It also probably a factor that the year 2022 is not really a good year. Prices remained terribly high, if not increasing. Money continued to lose a good chunk of its value. So those who didn't have a choice but to dip on their Bitcoin stash probably made the sale already way before Christmas. I hope we'll have a good breather in 2023.

Silberman

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

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?

The most simple explanation for the way bitcoin is moving is that there is not much room for bitcoin to go down under normal circumstances, if the price were to go down significantly then I would expect that a major event happened in which one of the top coins collapsed or another big exchange was found misusing the funds of their customers and it went bankrupt, but other than that I do not expect the price of bitcoin to go down during the holidays.

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Quote from: livingfree on December 27, 2022, 03:51:04 PM

Quote from: Vaskiy on December 26, 2022, 05:44:01 PM

Quote from: livingfree on December 26, 2022, 05:33:30 PM

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

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?

Not that I know of.

We'll never know if 2023 is going to be bullish until we see it. But most likely, many won't expect that it's the coming back of the bull run, there's still one more year to go for the upcoming halving.

And by that time, it's where many predictions will come out on when the next bull run might happen. If bitcoin breaks back on $20k by next year then will serve as a good sign.

First of all 2017 and 2022 is entirely different, because the user base and the market it have got is not the same. The adoption and acceptance level is not the same. These analytics need to be considered when we discuss about the market price movements. During the Christmas season the price managed to stay strong without big drop which is good sign of stabilized move. The market is moving on the four year cycle and upon the same we can't expect the year 2023 to be bullish.

Yeah, both years are entirely different. The cycle was there but both have different signs and how they did performed can't be compared.

That's why I've said that we'll never know until we see it. But I'm for the time that we should see it bullishly but it's not that as early as 2023 that I'm expecting.

More with the 2024/2025 cycle that we're very likely to have that bull run back. Well, as said we might get onto that point for having the market prepared by next year, nobody really knows.

After halving event we should say on which majority would really be having that kind of impression that we might be seeing some u-turn of events or trend after that even which it do usually happens
but it not something a solid pattern that we could assume out.Come to think that this market cant really be just moving on sideways like forever which means that after a bearish run
then here comes a bullish run, but the main question is on when it would happen? Doesnt matter on what season or events that the current days are involving into because
these things has nothing to do with market changes or something.

Smartvirus

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

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.

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?

Come on mate, are we in 2023 already? I mean, the first might just be a mistake but the second makes it seem as though your pretty hard convinced it's 2023, lol... perhaps ots your projection for ending of next year, lol... well, its 2022.

Is that even a thing? At selling pressure in the Christmas season because, I don't really see that to be a thing. Most especially, given the season we are in when it comes to the market at being bearish. Its a time to buy and hodl, if your selling, then you are losing and that's definitely not what anyone hope to do and so, you would almost find price at a range as we had it.

livingfree

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Quote from: Vaskiy on December 26, 2022, 05:44:01 PM

Quote from: livingfree on December 26, 2022, 05:33:30 PM

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

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?

Not that I know of.

We'll never know if 2023 is going to be bullish until we see it. But most likely, many won't expect that it's the coming back of the bull run, there's still one more year to go for the upcoming halving.

And by that time, it's where many predictions will come out on when the next bull run might happen. If bitcoin breaks back on $20k by next year then will serve as a good sign.

First of all 2017 and 2022 is entirely different, because the user base and the market it have got is not the same. The adoption and acceptance level is not the same. These analytics need to be considered when we discuss about the market price movements. During the Christmas season the price managed to stay strong without big drop which is good sign of stabilized move. The market is moving on the four year cycle and upon the same we can't expect the year 2023 to be bullish.

Yeah, both years are entirely different. The cycle was there but both have different signs and how they did performed can't be compared.

That's why I've said that we'll never know until we see it. But I'm for the time that we should see it bullishly but it's not that as early as 2023 that I'm expecting.

More with the 2024/2025 cycle that we're very likely to have that bull run back. Well, as said we might get onto that point for having the market prepared by next year, nobody really knows.

retreat

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Quote from: Charles-Tim on December 26, 2022, 02:08:35 AM

Quote from: retreat on December 26, 2022, 12:59:24 AM

We just have to wait for the good news in the next few days, because there seems to be some news that could make the price of Bitcoin go up, but we need to be aware that the possibility of traps still exists.

As the price will be increasing would be worth a good news, it would be seen on news that time how bitcoin will increase (I do not believe those analyses, but many people do like it), that will make some people to buy too. Without any bad news, we are expecting price increase.

And because of that I don't really believe in the increase in the price of Bitcoin in the next few weeks, maybe it's a trap, because people see from the news that the price of Bitcoin is going up and many people decide to buy and this moment might be used by investment firms to take profits by buying at the beginning and selling it when the Bitcoin price is at a certain point and this might make the Bitcoin price corrected again. Not to mention the prediction of a recession in 2023 which will threaten many countries and unstable geo-political conditions. This will certainly be a consideration for the price of Bitcoin in 2023.

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Quote from: livingfree on December 26, 2022, 05:33:30 PM

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

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?

Not that I know of.

We'll never know if 2023 is going to be bullish until we see it. But most likely, many won't expect that it's the coming back of the bull run, there's still one more year to go for the upcoming halving.

And by that time, it's where many predictions will come out on when the next bull run might happen. If bitcoin breaks back on $20k by next year then will serve as a good sign.

First of all 2017 and 2022 is entirely different, because the user base and the market it have got is not the same. The adoption and acceptance level is not the same. These analytics need to be considered when we discuss about the market price movements. During the Christmas season the price managed to stay strong without big drop which is good sign of stabilized move. The market is moving on the four year cycle and upon the same we can't expect the year 2023 to be bullish.

livingfree

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

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?

Not that I know of.

We'll never know if 2023 is going to be bullish until we see it. But most likely, many won't expect that it's the coming back of the bull run, there's still one more year to go for the upcoming halving.

And by that time, it's where many predictions will come out on when the next bull run might happen. If bitcoin breaks back on $20k by next year then will serve as a good sign.

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

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?

Possible but its not guaranteed on which there's no way that we could draw up some conclusions but rather assumptions and presumptions in speaking about future prices.We can make out some patterns and behaviors but this isnt something that will happen in next years to come.Somehow it is really good to see that the price hadnt make out some huge movement on holiday season.
We might be expecting something positive but it didnt happen, this is where things do make out so hard or difficult to make out positions if you are really that making some short
trades towards Bitcoin. We dont know on what year 2023 looks like whether it would be an another bearish or something bullish that we might be able to see
but dont make yourself that confident on what would gonna happen.Whether Christmas or New year or any other events of the year doesnt really guarantee out on what prices would be.

STT

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I dont see late December as a time full of pressure, I think its lower volume or thats my perception. In theory April should create more pressure maybe as end of financial year across the globe but mostly BTC keeps its own time much to the frustration of many.
We need to at least pass 17k now which will be the bottom rung to reclimb the mid December peak pricing, there is still an idea of higher lows over weeks but its quite weak.

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Quote from: Marvell1 on December 26, 2022, 05:41:31 AM

Quote from: jrrsparkles on December 25, 2022, 12:28:09 PM

We are at the 16K range for too long so it maybe a sign that we reached the bottom so if the right time comes then possibly next year the bull season may begin.

Don't be so quick to confirm it. You remember when bitcoin was at 18k-19k for a long time and people started to believe that we had bottomed and we were going to go up from here, and then the crash of FTX caused bitcoin to drop below $16k, making everyone's speculations and expectations completely wrong. Bitcoin has been above the $16k resistance for too long, but that doesn't mean we've finally bottomed out. Let's look at the outside situation, the economy, war, inflation... all are still negative so it's hard to expect that we have bottomed and the bull season will start from here.

We shouldn't consider it not going down anymore, but we shouldn't expect another FTX type of deal all the time neither. That happened and dropped the price and that's understandable but that doesn't mean that it is going to keep being like that forever neither, it would be pretty hard to keep it that way.

This is why I believe that we should be a bit more less expected of lower level stuff, could be a lot better in the long run. This is quite difficult to handle but we should be able to handle it in the long run. I personally do not expect another bottom because I am not expecting anything like FTX to happen again over and over, it would be pretty difficult.

Yatsan

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Quote from: aoluain on December 26, 2022, 12:37:57 PM

Quote from: ilovealtcoins on December 26, 2022, 10:11:01 AM

Quote from: dimonstration on December 25, 2022, 12:41:11 PM

The only difference and the most important element that you forgot to consider was Bitcoin price already suffer too much down fall since the Tera Luna failure and the recent FTX bankruptcy that happened last November. All the selling pressure is already done before December that makes the current month a very nuetral in preparation for next year big move in the price.

You should check the condition of Bitcoin market before December on those previous years that you mention before you compared it to the current situation of the crypto market.

But you forget one thing that, all the previous bitcoin slumps, bitcoin has never experienced conditions like war, crisis, extreme inflationary economy. So expecting bitcoin to rise again in 2023 is not easy, I don't believe bitcoin will easily rise in 2023 without any catalyst. And in the current market, apart from Fuds and Fuds, we don't have any good news.

These are good points, war, inflation, the thread of power and food shortages all make for
an unpredictable short to middle term.

While historically the markets have reacted positively to the incoming halving and the spin
of the 4 year cycles it's hard to make predictions based on them.

We may have to fast forward to the second half of 2023 to start getting positivity in the markets.
will war and inflation be more powerful than the allure of the Bitcoin halving?

Power I think refers to the impact of given factors to investors which would reflect to their investment routines or plans. No matter what happens in this market, if people won'thave the capability or drive to invest, no positive thing will happen in accordance to this industry. 2023 is indeed near and through a whole year, there are many things to happen. Halving on the other hand is still far which is why it won't be an advisable indicator at the present. What would much more affect its price on erly next year might be adoption of big company names on cryprocurrencies if that would be made possible by other industries which could simply create a hype or wave for this industry.

aoluain

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Quote from: ilovealtcoins on December 26, 2022, 10:11:01 AM

Quote from: dimonstration on December 25, 2022, 12:41:11 PM

The only difference and the most important element that you forgot to consider was Bitcoin price already suffer too much down fall since the Tera Luna failure and the recent FTX bankruptcy that happened last November. All the selling pressure is already done before December that makes the current month a very nuetral in preparation for next year big move in the price.

You should check the condition of Bitcoin market before December on those previous years that you mention before you compared it to the current situation of the crypto market.

But you forget one thing that, all the previous bitcoin slumps, bitcoin has never experienced conditions like war, crisis, extreme inflationary economy. So expecting bitcoin to rise again in 2023 is not easy, I don't believe bitcoin will easily rise in 2023 without any catalyst. And in the current market, apart from Fuds and Fuds, we don't have any good news.

These are good points, war, inflation, the thread of power and food shortages all make for
an unpredictable short to middle term.

While historically the markets have reacted positively to the incoming halving and the spin
of the 4 year cycles it's hard to make predictions based on them.

We may have to fast forward to the second half of 2023 to start getting positivity in the markets.
will war and inflation be more powerful than the allure of the Bitcoin halving?

sana54210

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Quote from: crwth on December 26, 2022, 10:34:47 AM

It could be possible that i will be a bull run in 2023 because the price that we are currently in has been here for a long time. Hence, it’s likely that it could reach even higher since almost everyone accepts this price, and then maybe they could be another catalyst to bring it higher to a new all-time high.

Since I am a believer of repeating history, I believe that we may or may not have a bullish year in 2023 so there would be very very thin chances for a new all time high in 2023. We may have a long bullish trend in 2023 but which may not be enough stronger to take bitcoin beyond ~$65k levels. Even somehow we are able to see $70k in 2023 which will not test $100k for sure.

I mean a bull run of bitcoin market is usually have multi-fold of previous cycle ATH which may not happen in 2023. Still, we can expect some relief in 2023 from bear but at the same time bears may not leave bitcoin market completely in 2023.

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Quote from: Nrcewker on December 26, 2022, 08:41:01 AM

I am expecting Bitcoins to cross 20k usd mark this year only. I know hardly only 5 days left. But still If Bitcoins anyhow manages to cross this mark, then definitely next year will be big for Bitcoins. Bitcoins have already seen it’s capabilities and during this Christmas week, it has also shown it’s resistance level. So definitely crossing 20k usd mark wont be any difficult for Bitcoins. I would say that we need to watch and wait meantime and observe the first week of January, before any further investments.

Optimism is good, but it is also good to be realistic and not live in a fairy tale world. I think there is a greater chance that Santa will come down your chimney than that the price of BTC jumps by 20% for no reason - unless you have confidential information from the secret headquarters of good fairies who will start buying Bitcoin to brighten up the end of the year for you Cheesy

Next year is just another year in a row that doesn't have any big expectations, although that doesn't mean you shouldn't be prepared for surprises. However, one should not be surprised if that surprise is not exactly what most people hope for.

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Quote from: darkangel11 on December 26, 2022, 10:17:36 AM

Quote from: Nrcewker on December 26, 2022, 08:41:01 AM

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

Merry Christmas and happy holidays!
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?

I am expecting Bitcoins to cross 20k usd mark this year only. I know hardly only 5 days left. But still If Bitcoins anyhow manages to cross this mark, then definitely next year will be big for Bitcoins. Bitcoins have already seen it’s capabilities and during this Christmas week, it has also shown it’s resistance level. So definitely crossing 20k usd mark wont be any difficult for Bitcoins. I would say that we need to watch and wait meantime and observe the first week of January, before any further investments.

There's almost no chance for that. I'd say the probability of us going above 20k this year are less than 10%. This would have to be some big company going all in or a millionaire club.
Next year though, I'd say it's 90%. Bitcoin can't go much lower than it is now and an upside breakout will finally happen, even if it's ultimately a failed attempt like that one in 2019 where we went from 4 to 14k.

Bitcoin should already be above 20k and it would be if not for the scammers who always put us holders to the test.

I also agree, there won't be $20k for bitcoin this year. After a year of relentless decline and people are starting to believe that 2023 will be a bullish year. I don't have any predictions for next year because I need more data to be able to make my predictions. But I hope what you're predicting comes true, because we've been through bear season for so long.

crwth

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This is what I think with your analysis. It could be possible that i will be a bull run in 2023 because the price that we are currently in has been here for a long time. Hence, it’s likely that it could reach even higher since almost everyone accepts this price, and then maybe they could be another catalyst to bring it higher to a new all-time high.

I think everyone is busy with their personal stuff that is needed with attention during the holidays.

Odusko

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Quote from: ilovealtcoins on December 26, 2022, 10:11:01 AM

But you forget one thing that, all the previous bitcoin slumps, bitcoin has never experienced conditions like war, crisis, extreme inflationary economy. So expecting bitcoin to rise again in 2023 is not easy, I don't believe bitcoin will easily rise in 2023 without any catalyst. And in the current market, apart from Fuds and Fuds, we don't have any good news.

I can't underestimate the power of good news to push the Bitcoin price uptrend but sometimes, Bitcoin perform above our expectation and one can't stop wondering what the wave behind the performance, is because we won't be able to point to any news to be the reason behind the pump.
2023 is a fresh year bitcoin investors are of high hopes that the coming year will be more favorable to bitcoin and the entire cryptocurrency market, and the early weeks of the year will bring in some big market shifts but that is just my own speculation.

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Quote from: Nrcewker on December 26, 2022, 08:41:01 AM

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

Merry Christmas and happy holidays!
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?

I am expecting Bitcoins to cross 20k usd mark this year only. I know hardly only 5 days left. But still If Bitcoins anyhow manages to cross this mark, then definitely next year will be big for Bitcoins. Bitcoins have already seen it’s capabilities and during this Christmas week, it has also shown it’s resistance level. So definitely crossing 20k usd mark wont be any difficult for Bitcoins. I would say that we need to watch and wait meantime and observe the first week of January, before any further investments.

There's almost no chance for that. I'd say the probability of us going above 20k this year are less than 10%. This would have to be some big company going all in or a millionaire club.
Next year though, I'd say it's 90%. Bitcoin can't go much lower than it is now and an upside breakout will finally happen, even if it's ultimately a failed attempt like that one in 2019 where we went from 4 to 14k.

Bitcoin should already be above 20k and it would be if not for the scammers who always put us holders to the test.

Topic: Bitcoin survived the Christmas market pressure - page 6. (Read 1529 times)