Bitcoin survived the Christmas market pressure - page 7.

ilovealtcoins

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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.

virasog

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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?

I do not really understand this comparison. In 2021 bitcoin made the all time high and therefore we could expect the price to go down in December month or after the Christmas and holidays. The same thing happened in 2017 when bitcoin made the all-time high in December and prices were going down near the year end.

The situation in this year December 2022 is different. The bitcoin prices were already near the bottom and there was no further selling pressure that could dump the bitcoin price further down after Christmas.

Nrcewker

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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.

JoyMarsha

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The price of cryptocurrency fluctuates in a unique way every year. Bitcoin pricing during the holiday season of 2017 and this year cannot be compared on an equal basis.
People are now learning to keep their bitcoin assets rather than selling them to pay for their holiday buying.

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?

I don't think so. The only time I consider seeing bitcoin hitting $20k will be late Q1 or the beginning of Q2 next year. This Christmas period and the beginning of next year, expect the price of bitcoin to be fluctuating between the price of $16k- $18k range. Nothing less

janggernaut

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The real thing when we entered Q1 of 2023, when many says the recession will start. Just survived from Xmas and even new year event, doesn't make bitcoin just stable like atm price. The price might be drop more as lot of people anticipated for global recession on next year. Even for current price, we are "still" down 75% from ATH, but if you look at 2 previous history after bitcoin dumped, there were down more than 85% from ATH.

Marvell1

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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.

darewaller

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Quote from: Republikcoin.com on December 25, 2022, 06:39:54 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?

I'm not sure if that's a sign of a bullish market indication early next year, although it is very possible that the $20K price level is not that far from the current price level even though the current price level is still below $17K. It seems that Christmas will not put so much pressure on the Bitcoin market even though it is a holiday for some people. But the market will run as usual and will not have such a big impact on Bitcoin and its price in the market.

$20k may be bullish if we are talking about the previous years and this price was also one of their all time highs but we shouldn't apply that to the current year. $20k this year is not considered to be a bullish price but it was bearish. Bullish price this year can be $50k or above. $20k is easy to achieve because we are almost $17k now and besides, we went there many times before.

Christmas is finally over and as we can see, the price of BTC merely moves. I think this only shows that the majority of the people didn't touch their BTCs as opposed to the previous years. Well, we already know why. I expect the same thing is going to happen in the new year (dec. 31).

GeorgeJohn

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I'm Just emphasizing directly to the speculation of Bitcoin, we know quite well that we can't predict the increment and decrement of Bitcoin with assumptions. We have not entered 2023 and you it come to your obligation that Bitcoin price is accelerating. I want you to understand that the market will determine the increment or the bullish in cryptocurrency, so therefore, what i want you to know is that cryptocurrency can rise a day, but their is no sign to attest the we are encroaching to bullish season.

Charles-Tim

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Quote from: adaseb on December 25, 2022, 11:47:31 PM

I don’t think people were going to sell Bitcoin to buy Christmas gifts. Honestly why does everyone think this every year? It seems everybody expects people to sell all their cryptos and stocks just to buy gifts, it’s not the case.

First, I do not expect people to sell bitcoin when the price is significantly low, more people will think to buy and hold.

How much would Christmas gift be compared to holding? Also someone working, receiving fiat weekly or monthly, I do not think that kind of people will sell their bitcoin for gift. Anyone that is receiving income in bitcoin will sell just little.

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.

retreat

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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?

It seems that the Bitcoin price will be in the range of 16,000 - 17,000 by the end of this year. You said that Christmas will affect the price of Bitcoin, in my opinion it will not have a significant impact, because indeed people are more selective in selling their assets and most of the crypto holders are now holding back from selling their assets. 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.

adaseb

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I don’t think people were going to sell Bitcoin to buy Christmas gifts. Honestly why does everyone think this every year? It seems everybody expects people to sell all their cryptos and stocks just to buy gifts, it’s not the case.

A more legit idea would be tax loss harvesting where they sell their losing investments to off set their profits for tax time. And tax selling for April due date which is usually in late February and March.

Republikcoin.com

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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?

I'm not sure if that's a sign of a bullish market indication early next year, although it is very possible that the $20K price level is not that far from the current price level even though the current price level is still below $17K. It seems that Christmas will not put so much pressure on the Bitcoin market even though it is a holiday for some people. But the market will run as usual and will not have such a big impact on Bitcoin and its price in the market.

samcrypto

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Quote from: bittraffic on December 25, 2022, 12:31:36 PM

The FED announcement has something to do with it if the price moves up to $20k sooner. BTC is related to what will be the economy be like as dictated by the FED.

We can only hope that there will be a recovery of $20.000, another 2 months I think before it could go up again. Winter will squeeze the money out of people's pockets. Do you think people using thier Holiday bonus to buy BTC?

Probably some are buying Bitcoin right now instead of spending it, because its pretty cheap and we all know recovery is about to begin so buying now can be a great idea. If the economy of many countries started to rise again, Bitcoin will also follow that and yes I also believe the current news with FED has something to do with the current trend of Bitcoin. First quarter of 2023 will be crucial, let’s hope for the positive trend.

kamvreto

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Let's hope that bitcoin in early 2023 will be a good start to breaking through the $20k price and starting to hit the bull market. we have waited long enough and endured the bearish market in 2022. and some negative news has also died down, FTX CEO has been arrested and its a very good news, FUD binance is done, and just need to wait for some positive news that will support the market to go to the bull market .
Every crypto expert or expert certainly has a different analysis or prediction regarding the price of Bitcoin. However, despite the recent volatility and slump in prices, many experts are still optimistic that Bitcoin can reach $100k.

Even Tim Draper , a well-known American investor, believes that Bitcoin can reach $250k in the middle of 2023 regardless of the FTX bankruptcy news.
https://www.business2community.com/crypto-news/bitcoin-price-prediction-tim-draper-250k-02498939

Jating

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Quote from: bittraffic on December 25, 2022, 12:31:36 PM

The FED announcement has something to do with it if the price moves up to $20k sooner. BTC is related to what will be the economy be like as dictated by the FED.

We can only hope that there will be a recovery of $20.000, another 2 months I think before it could go up again. Winter will squeeze the money out of people's pockets. Do you think people using thier Holiday bonus to buy BTC?

And as far as I remember, with the FED pivot the price goes to $18k above. However, as soon as there is a FUD on Binance's reserves then the price goes down hard to $16k++ and that's where we are right now.

As far as going bullish this 2023, I highly doubt it, maybe a few occasional runs to $20k, but that will be the biggest resistant for now (usually whole numbers are), so it will be interesting a break out that could happen next year and so if it goes to $22k, we might be in a bullish phase, but let's see, really hard to predict as there are factors that can really affect the price movement.

Oshosondy

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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.

This is true, bitcoin falled to $15500 and increased back above $16000 like two times or so, the price later increased above $18000 and decreased back to become less volatile around $16600 and $16800.

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?

What I guess is that bitcoin will surely break $20000 in the first quarter of 2023 but it could take a gradual steady process and may not be the first week of 2023, though I am not in haste for it.

Piesel

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Why we may think that the price of Bitcoin is stable around 16800 to 17k is because, Bitcoin has already faced market crisis in early and late November with a load of bad news and attacks on the cryptocurrency market.

Take FTX bankruptcy as the major bad wave for the year 2022 and you will understand why is not right to conclude that every December will have the same pattern of movement because every year has its own peculiar problem that faces the market.

dimonstration

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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.

bittraffic

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The FED announcement has something to do with it if the price moves up to $20k sooner. BTC is related to what will be the economy be like as dictated by the FED.

We can only hope that there will be a recovery of $20.000, another 2 months I think before it could go up again. Winter will squeeze the money out of people's pockets. Do you think people using thier Holiday bonus to buy BTC?

jrrsparkles

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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?

You really can't compare current trend with 2017 because at that time its almost the end of peak while now we are at the rebound position so there is not such pressure and to be honest I expected a drop but it didn't happened. So it seems holders don't really took their cryptocurrency savings for short term happiness like shopping and gifts, the new era is moving forward with goal of achieving financial stability.

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.

Topic: Bitcoin survived the Christmas market pressure - page 7. (Read 1529 times)