Could this be a frequent end of year package, a window to buy Bitcoin or Not? - page 2.

Aanuoluwatofunmi

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Quote from: Good_Doctor on August 09, 2023, 11:28:50 AM

With my little experience in Bitcoin I've discovered over a range of 2 consecutive years precisely 2021 and 2022 that as we approach end of year the price of Bitcoin falls tremendously
Please why is this and could it be that the digital currency is likely wanting to create a window for people to make use of the opportunity for other investors or what?

Remember that we are dealing with a volatile cryptocurrency, there's no specific time, month or period for the currency to rise or fall, if not people will have a particular day or month they will target to buy or sell when the price dump or pump, we only work by some statistics from previous years experience and compare them to current market price, we also work by the halving period where bitcoin rises and bullrun occurs, nothing aside this than the major demands and supplies for the market to rise or fall which could actually happened at any giving time, which means bitcoin has no specific pump or dump period, we get notified through speculations using different parameters to predict what may come next, but not everything is always accurate sometimes.

Cookdata

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Quote from: Good_Doctor on August 09, 2023, 11:28:50 AM

With my little experience in Bitcoin I've discovered over a range of 2 consecutive years precisely 2021 and 2022 that as we approach end of year the price of Bitcoin falls tremendously
Please why is this and could it be that the digital currency is likely wanting to create a window for people to make use of the opportunity for other investors or what?
I expected normally that during the periods of end of year's festivity there should be a rise in Bitcoin price that is sustained for let's say 5 months after with little fluctuations but it's not been so. My point is why does this happen as we draw to the close of year so far?
What's your take on my observation? Have you noticed this too?
What could be the reason behind it?
Your response is appreciated!

Don't over think the behaviour of bitcoin price and don't listen to any advice of it going to a particular price, be a neutral person and avoid the FUD or any hype. I wouldn't tell you yes or no but my advice is this; if you have the intention to buy bitcoin, do so ad don't procrastinate about it, my reasons are is because it is at the point where you wouldn't have loss if you hold in for the long term, the demand in this support zone are massive and market makers are also doing anything possible not to go beyond $29k, halving is fast approaching than we anticipate, so, there is assurance that this force will help you minimize your risk if you invest wisely.

darkangel11

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Don't let others control your BTC -> self custody

If I were you, I wouldn't wait for the end of the year to buy bitcoin. It could be an opportunity drop, but it could as well become an ETF approval and then you'll not see sub 30k bitcoin for a long time. Maybe never.
If you don't have any bitcoin buy some now and leave yourself some money in case it really drops. If you have some bitcoin, procure some money to be ready to buy the dip. Don't sell your bitcoin to wait for the dip that may not come. IMO it's going too far in one direction without considering the other.

Silberman

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Quote from: Good_Doctor on August 09, 2023, 11:28:50 AM

With my little experience in Bitcoin I've discovered over a range of 2 consecutive years precisely 2021 and 2022 that as we approach end of year the price of Bitcoin falls tremendously
Please why is this and could it be that the digital currency is likely wanting to create a window for people to make use of the opportunity for other investors or what?
I expected normally that during the periods of end of year's festivity there should be a rise in Bitcoin price that is sustained for let's say 5 months after with little fluctuations but it's not been so. My point is why does this happen as we draw to the close of year so far?
What's your take on my observation? Have you noticed this too?
What could be the reason behind it?
Your response is appreciated!

Markets are for the most part never that obvious and the answer for it is in your post, even if you were right about your observation, which you are not as other members of the forum have shown to you, and traders began to take action expecting this drop on the price, the increased demand for bitcoin will have the opposite effect and make it to go up in value, or at least counter that downward tendency, remaining stable and prove you wrong anyway.

coolcoinz

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Quote from: Good_Doctor on August 09, 2023, 11:28:50 AM

With my little experience in Bitcoin I've discovered over a range of 2 consecutive years precisely 2021 and 2022 that as we approach end of year the price of Bitcoin falls tremendously
Please why is this and could it be that the digital currency is likely wanting to create a window for people to make use of the opportunity for other investors or what?

You've taken a very short period of time to draw your conclusion.
In 2019 end of the year was rather stable
In 2020 the price increased
In 2020 it increased
In 2021 id decreased
In 2022 it decreased

Based on that you have equal chance of getting a bullish or a bearish outcome Wink

GiftedMAN

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Leo is resting.

Get your facts right the end of the years has nothing to do with the price of Bitcoin going up or coming down and for the two seasons you talked about, the price of Bitcoin was not affected by the end of the year rather the explanation of @Agbe is a possible reason for it and looking at the price of Bitcoin in the last two years now, there is a possibility of the next bull run happening by the end of 2023 to 2024 and if that happens, I hope you always don't complain that the year the price of Bitcoin became down again? Bitcoin has been in existence for more than 10 years now and over this year's the price has not been stable during the end of each of the years.

jossiel

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There is a cycle on these periods and that's what you need to know about, the four year cycle. It's proven to be like that and likely to happen again starting next year and so on.

As the market is unpredictable, so these events in between the cycle are likely to happen again. As I've said that it will happen by next year which is the halving of Bitcoin will happen.

And from there, you'll see how the market reacts until the bull run is in.

Faisal2202

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Quote from: Good_Doctor on August 09, 2023, 11:28:50 AM

With my little experience in Bitcoin I've discovered over a range of 2 consecutive years precisely 2021 and 2022 that as we approach end of year the price of Bitcoin falls tremendously
Please why is this and could it be that the digital currency is likely wanting to create a window for people to make use of the opportunity for other investors or what?
I expected normally that during the periods of end of year's festivity there should be a rise in Bitcoin price that is sustained for let's say 5 months after with little fluctuations but it's not been so. My point is why does this happen as we draw to the close of year so far?
What's your take on my observation? Have you noticed this too?
What could be the reason behind it?
Your response is appreciated!

Price of BTC depends on a lot of factors and this the one you mentioned is not one of them because at the end of every year most of the companies or BTC holders paying taxes try to sell there BTC to avoid some Taxes and in that spiral supply increases over demand but that's just my assumption so do not depend on it. The dip back in 2022 December was due to FTX shit and some other shits and back in 2021 the price of BTC dropped why? here are some factors to shed an eye on --> https://www.reuters.com/technology/bitcoin-extends-downtrend-falls-121-47176-2021-12-04/

I think we should not take these measurements as indicator because these are not.

Zaguru12

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Quote from: Good_Doctor on August 09, 2023, 11:28:50 AM

I expected normally that during the periods of end of year's festivity there should be a rise in Bitcoin price that is sustained for let's say 5 months after with little fluctuations but it's not been so. My point is why does this happen as we draw to the close of year so far?
What's your take on my observation? Have you noticed this too?
What could be the reason behind it?
Your response is appreciated!

It is not usually like that, there are some end of the years that are probably next to halving year just like this year 2023 and they are end to a year after halving period like end of 2021. And some are between the halving period just like 2022.

Now let’s take a look at that of 2021, the halving period which happened in 2020 caused the bull run to happen in 2021 where last quarter of 2021 saw bitcoin hit a record ATH of $69k on Nov 10.

Then that of 2022 was a little different because the entire year was filled with bad news around cryptocurrency as some Altcoins eat the dust and some exchanges faced went down which caused it to be in state of bearish period entirely

So looking at both years ending on different trend we can say that they are not always a bad end to each year but the market and economic situations sometimes are the result of each years ending price and not necessarily a regular low price at each year ending.

Some of the years after halving have always been bullish and some before it are filled with bearish period. So each year ending is quite different.

mk4

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Paldo.io 🤖

Why even take the data that seriously if it’s just in a short timespan? You’re giving it unnecessary meaning.

Correlation is not causation. https://www.theguardian.com/science/blog/2012/jan/06/correlation-causation

Agbe

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Quote from: Good_Doctor on August 09, 2023, 11:28:50 AM

With my little experience in Bitcoin I've discovered over a range of 2 consecutive years precisely 2021 and 2022 that as we approach end of year the price of Bitcoin falls tremendously

That is, you're saying that this the price of bitcoin will go down because you have experienced it before, well I have also actively participated in bitcoin for two years now. For ending of 2021 bitcoin price was not going down and instead it was going up and the bear market come at the second quarter of the 2022 and from November which was the last quarter of the year 2022, bitcoin market changed narrative, the price was rising and till date bitcoin price has not gone down to $16k again. And the next halving will start either from the last quarter of this year 2023 or early part 1st or 2nd quarter of 2024. So from the past years I have witnessed bitcoin prices, it has not been a bad market for the end of each years. And from the prediction and speculations, bitcoin price will not too bad at the end of this year. And I don't know how you saw yours in the past years and how you are going to see this year price as well.

Good_Doctor

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With my little experience in Bitcoin I've discovered over a range of 2 consecutive years precisely 2021 and 2022 that as we approach end of year the price of Bitcoin falls tremendously
Please why is this and could it be that the digital currency is likely wanting to create a window for people to make use of the opportunity for other investors or what?
I expected normally that during the periods of end of year's festivity there should be a rise in Bitcoin price that is sustained for let's say 5 months after with little fluctuations but it's not been so. My point is why does this happen as we draw to the close of year so far?
What's your take on my observation? Have you noticed this too?
What could be the reason behind it?
Your response is appreciated!

Very well I have noted your responses and thanks for the correction I actually knew I couldn't use a short time experience to generalize Bitcoin trend. Thanks for the analysis y'all.

Topic: Could this be a frequent end of year package, a window to buy Bitcoin or Not? - page 2. (Read 221 times)