Topic: I am Bullish On Bitcoin Despite Bear market - page 5. (Read 981 times)

It is unbelievable that the price of bitcoin has been behaving like fiat currencies for a few days now, it has not had large rises and falls in price, it has been stable until it even opened to be able to do day trades, the price is around 16700$ - 18660$, but when we have such a situation then we can expect two things in the next few days:

1 - a big price increase, of course due to the financial crisis the increase would be around 17800 - 18500$

2 - a big drop in price that would test again the support that is at 15000$, and this is the darkest scenario because if the price breaks the 15000$ then we will be facing a very big bloodbath, the whole market would be plunged into big price drop that's why I advise people to use stop-loss to protect themselves in case of a big price drop

Whether we are bullish or not Bitcoin is the only cryptocurrency that has safety of not being rug pulled just like many other tokens or coins we have seen so far on the market. We need to hold Bitcoin and even if we don't the market sto depends on the movement before the general crypto market will move.

Despite the current bearish market that took some time lately and mostly this year I believe that Bitcoin will eventually become bullish again. While I don't necessarily trust technical analysis, I believe that the current bearish market is simply a temporary downturn in the overall trend of Bitcoin. While it is true that the price of Bitcoin has been volatile in the past, it has also shown a tendency to recover and continue growing over time. While it is difficult to predict exactly when Bitcoin will become bullish again, I am confident that it will eventually happen.
Overall my belief in the long-term potential of Bitcoin and my confidence in its ability to recover from market downturns is what keeps me optimistic about its future, even during bearish markets and the bad events and news this year i will stay holding Bitcoin

It should be but there are those people who do held off no matter what and they do just missed out those golden opportunities for them to see and secure profits in a short time as possible if ever there's a chance.

I dont know on why they do prefer on missing it out on selling when they are already on huge profit and just tending to hold no matter what.Well, as long you arent on negative or if ever you are on this state

then its up to you whether you would be securing out those gains or still simply ignore and accumulate much more.It might sound up too simple but its not something that
you cant really easily done because its just normal that you would really be hesitating on these particular times because market is totally unpredictable and there's no way you could really
be able to easily bare out on making decisions.

Getting to hold successfully always depends on the number of allocations you've got to yourself to see you through a bear market in transcendence into a bull market. While you buy in a bull market, do well to tell yourself you've got to wait for the bulls to guarantee profit and also, even when the bull surfaces, don't hold back on buying if you've got the income to make it happen. Always see it for the future possibilities of price from the current position, hedging on the resources you've got to see you through wait times.

Waiting can be a good option for those who have exhausted their liquid cash allocation on bitcoin at the bear market. We are probably going to go upwards from this price but there is always the chance of the down trend as well. Whales are also accumulating coins and assets in the bad economic conditions prevailing and thus they will be the winners in the long run as always.

If you dont start thinking like a whale when the bull market hits, you would feel left out and hanging dry. It is because the last all time high was close to 70k and one can only imagine the margin of profit a person can pull off if such all time high happened again and the stored coins at hand were meager at that point.

Those that believed that this current dumping is a blessing to those that understand the past and the present of Bitcoin price will continue to make Bitcoin their choice, despite the price is still dumping in the market. Those that invested in a potential coins will definitely see the massive pumping of cryptocurrency in 2023, because there are positive signs in the market that made many traders to believe that next year will be more better than this year. I think, something good will definitely happen in future to those that invested a huge amount of money in Bitcoin without fear of loosing the money.

The market almost always follows the same cycle. If you see what's happening in the world, what other people think, the capitulation is already happened. You can tell this from the general negative sentiment. The market is currently dire, but things will likely turn around in 2023.

https://fifthperson.com/wp-content/uploads/2016/01/Psychology-of-Market-Cycles.jpg

If we plan to take advantage of the market, I agree we need to prepare a cash for it so that we won't get surprised if the opportunity presents itself and Bitcoin market hits another lower low.  Nohing beats being ready all the time.



But not too soon, we might have a year of waiting before the market transition to bull market.  Remember in every cycle, bear market starts to transition a few months before halving so we need more than a year before the bull market will happen and that is not soon  .

From your chart, the channel you've there is a falling one. That means only one thing is expected and that's lower highs. There's a wedge heading south and that doesn't signify any bull movement. The bear is eating up the price. Away from your chart, I don't even envisage a bull rally at the moment. If anything, this bear rally should last us till the second quarters of 2023. Last quarters is where it starts getting interesting and lively, I mean the crypto industry.

That is the right thinking.  So many people are fixated with the bottom. Everyone trying to be an expert or a magician to know the exact bottom so as to buy there. That is one of the factors affecting the market as institutional traders will keep playing mind game with our speculated bottom.

That's also problem with ATH, while some sold at 50k, others sold at 60k, people with big mind sold at 65k while people with the biggest mind were waiting for 100k.

And if he can buy at the current price, that will give benefits to @OP, especially when the price doesn't drop to $14k but instead goes up and back to $18k. But maybe he has another plan to anticipate if the market scenario doesn't go how he wants or he made it so he will make another backup plan. Next year is only a few days away but the market is not showing any signs of wanting to pick up and it looks like the market is still calm.

We all hope that bitcoin won't drop to $14k for now, as it looks like the price has hit its lowest price for the year. But if the low occurs next year, it will provide another opportunity for us to buy at another low. This is where we have to be really careful in making decisions and not let us regret that it was too late to buy at a low price, especially if the price has started to increase.

Yes, using the DCA strategy will be better for him because he doesn't spend all his money on one purchase but on several purchases. The advantage is that he can buy at various low prices so that if the price starts to increase, he can sell a few bitcoins and withdraw the profits. And if he wanted to repeat it, the gains would be great. But if he wanted to hold onto it until later when the price could exceed the last ATH, the profit would also be huge.

It's all speculation and waiting is not the solution. As OP said, if he's bullish on bitcoin, there's no reason he shouldn't buy bitcoin for $16k because the gap between $16k and $14k isn't too big. Bitcoin is unpredictable and if his prediction is wrong it means he will miss the opportunity to buy bitcoin. I like his analysis, but I don't like his waiting way while we also have DCA strategy.

That's a good initiative thinking keeping some cash when needed.

But doing DCA some other time is the most initiative way of thinking in advance since we are already in a bear market. Waiting for that bull run to happen when it's not yet the right time will street you out. It's better to let the thing go on their way and just ride with the flow especially if you are not one of the whales that can make the whole Bitcoin market to move.

Bull run will happen soon.

Am sure we may see a positive trend in the coming days/weeks ahead, but then there may be the possibility of a decline bug not too long before we touch $20k because the market signaling a more positive trend and Bitcoin has tried to touch 17k for quite a few time.

Market volatility may have some role in the outcome of this possibility but I am quite certain that Bitcoin will rely on around a 20k price in the early days of 2023.

There is still a chance that the Bitcoin price will fall further. Because I don't see any credible reason for Bitcoin to rise right now. There hasn't been any good news recently. There are rumors that Russia will accept Bitcoin as an international payment method starting next year, but this has yet to be confirmed. However, I do not believe it will have a significant impact on Bitcoin's price. Because Westerners would oppose Bitcoin because unless sanctions were imposed on Russia. We can say that we would find another Bitcoin accumulation zone that would be beneficial to us. Deep observation is required.

Good thing I always try to keep some cash aside for a rainy day even it is small and it seems such days are fast approaching.  If Btc goes that low,  it will be a great opportunity to get in, i have been patiently waiting to see how the market will react by 2023.
Besides, btc is always the best choice during this period, you will be rewarded for doing so.

I am not quite following what you are trying to say here. Will not get any chance to invest? Bro, are you stuck to the thought that BTC will be chilling only at 20k in bull run? Think again. I am not here to give out any advice to anyone regarding when to enter or what to buy. I am not a professional. But when it comes to BTC investment, you can enter at any time you want. It totally depends on a person's decision. I'll say, let them do it by themselves. If they can see the potential, then they will enter the market.
And I'm pretty sure bull run will not come so soon. So I'll take my time. But the rest is for the other people to decide.

Of course you are right. We will never find a good time if we sit on our hopes. Now is the best time if you want to invest in Bitcoin. Because Bitcoin will cross $20K before $14K. And when bitcoin crosses $20k you will not get any chance to invest. Then you will want to collapse. So if you believe in Bitcoin and are interested in investing in Bitcoin then do it now.

Forming a falling wedge patter is an understatement since the pattern that you presented is more likely forming a down trend channel instead of a wedge because dipping on 14k or 15k will give more pressure to visit the price that more close to 10K that everyone is watching as the next strong support.

12hr pattern is also not very popular because more trader preferred the daily or weekly time frame when determining a longer trend.