Is the $17,000+ bitcoin price breakout benchmark to new price direction - page 3.

Ryu_Ar1

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Quote from: Frankolala on January 12, 2023, 09:45:05 AM

17k+ is a good sign that there will still be increase in the run of this year,this is a great improvement for bitcoin movement and investors will be expecting more rise of price. I woke up this morning to check and bitcoin price has moved up to 18k,which hasn't happened since the past three month,this shows that there is hope for the price to get up to 20k this year.

Don't be excited by the little increase in price and think it's the time to start trading your coin,instead keep hodling more bitcoin because the halving circle is still yet to come.

I'm actually still not too sure about this, this could be a bull trap. The previous CPI prediction was 6.5% but the current figure already shows 7.1% which of course there is a 0.6% gap which actually I feel when talking about 0.6% inflation is quite big.
There is always a possibility of going up if this is indeed not above the previous CPI prediction this possibility will be bullish even up to $ 19k even if the increase continues it could reach $ 21k but if other possibilities regarding bitcoin fall I don't think I will be too surprised to see them back to $16k price.

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17k+ is a good sign that there will still be increase in the run of this year,this is a great improvement for bitcoin movement and investors will be expecting more rise of price. I woke up this morning to check and bitcoin price has moved up to 18k,which hasn't happened since the past three month,this shows that there is hope for the price to get up to 20k this year.

Don't be excited by the little increase in price and think it's the time to start trading your coin,instead keep hodling more bitcoin because the halving circle is still yet to come.

Nrcewker

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Bitcoins crossing 17k usd have really made many crypto investors excited. Yes as op mentioned, it might be the start of the new price high range. Right now the thing that is required is just fuelling up the price with enough demand. If now more people will try to buy more Bitcoins, then due to the limited supply of the coins, the price will increase. Still anything can happen, but currently Bitcoins have increased a lot. It’s a positive sign to be honest. Next week will be definitely crucial for the Bitcoins. Let’s hope for the best.

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Quote from: Wiwo on January 11, 2023, 10:38:08 AM

If we become so excited at this point, what happens when we reach the 20k to 25k market price which is very much expected before the halving cycle that is somewhere around 2024?

Heh, remember, this subforum was full of threads of "17k" and "18k" already over the last few months? There's always someone to get excited over any arbitrary number.

Not that I'm unhappy over the last couple of days. Think it's a pleasant surprise. Only we've still got to watch out for CPI and rate hikes again -- remember the market dived despite Fed not actually doing anything more than expected.

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Quote from: goaldigger on January 11, 2023, 04:47:14 PM

Quote from: suzanne5223 on January 11, 2023, 01:29:19 PM

The Bitcoin market positive trend was an amazing move by the market but it's too early to have the impression that the market bullish is back and I think we have to wait to confirm the trend the market will showcase next week to be sure since the market always makes some bullish trends just to compliment the bearish market. Although the bullish market will start this year but not in the first or second quarter.
What I am saying is that this could be a bull trap.

Not a bull trap but can be consider as a small pump and a preparation for the real bull trend.
Its also good to see altcoins following the pump of Bitcoin, this is a good sign but yeah too early to celebrate. If there’s another pump that can actually reach the price of $20k, then we might start this year on a better trend. Its good if you are able to bought at a cheaper price, bull is about to come.

The story seems to have been after the incoming news of the El Salvador government taking their Bitcoin legalization to another peak by signing into law the Bonds that support all cryptocurrencies.
Therefore, this current price surge could be the preparation for anything but we will definitely know if it's for the bull trend in the next few days.

STT

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12th Jan we have major data arrive and that might change the whole market mood. At the same time chart wise we meet possible resistance, I dont know this is actually going to halt us at all but arriving here just in time to match news occuring is serendipitous Cheesy

for that whole speculative play. We've expanded range anyway because we were stuck quite tightly in a range for like near 2 months.

YTD4hr

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Quote from: suzanne5223 on January 11, 2023, 01:29:19 PM

The Bitcoin market positive trend was an amazing move by the market but it's too early to have the impression that the market bullish is back and I think we have to wait to confirm the trend the market will showcase next week to be sure since the market always makes some bullish trends just to compliment the bearish market. Although the bullish market will start this year but not in the first or second quarter.
What I am saying is that this could be a bull trap.

Not a bull trap but can be consider as a small pump and a preparation for the real bull trend.
Its also good to see altcoins following the pump of Bitcoin, this is a good sign but yeah too early to celebrate. If there’s another pump that can actually reach the price of $20k, then we might start this year on a better trend. Its good if you are able to bought at a cheaper price, bull is about to come.

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It looks like $18K will break through again in the near future, which is evident from how the cash flow into bitcoin has been very strong so far. The increase in interest in bitcoin may be due to adjustments in The FED's interest rates or some things other, but that is only a factor that will have little or no effect on demand.

I don't expect super significant increase earlier this year, but a small increase like this should have made some people smile. Hmm, I'd love to see how $20K get break during January, that's becoming very likely.

suzanne5223

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The Bitcoin market positive trend was an amazing move by the market but it's too early to have the impression that the market bullish is back and I think we have to wait to confirm the trend the market will showcase next week to be sure since the market always makes some bullish trends just to compliment the bearish market. Although the bullish market will start this year but not in the first or second quarter.
What I am saying is that this could be a bull trap.

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There has been no real significant price movement in the last few days even though the actual dollar value of my asset estimate has increased by a few percent. I'm happy to say $17K became new support in January, but I don't think it will be very strong if the selling pressure remains too high. A fresh start to price recovery is always to be expected, and we may find out if this $17K actually holds out over the next few days.

Quote from: bitzizzix on January 11, 2023, 10:57:41 AM

and currently the bitcoin price is still a good option to collect more bitcoin before the bitcoin price goes up, and if the bitcoin price returns to 16K price there is no need to worry and keep buying for the long term.

I wasn't affect by this small increase, and I wasn't thinking too much about a possible correction either. So both directions are necessary, and it would probably be nice if by mid year I had managed to accumulate a lot of bitcoin for under $20K.

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I'm usually not big on "breakouts" or judging price movement by small movements in one direction or another. However, it is definitely felt that BTC was so stable for months and then suddenly started melting up above $17K. Especially with all of the exchanges out there scrambling to try and secure customer funds and the GBTC fiasco or whether or not they have the claimed funds... It feels to me like this is the start of another bull run. I'm sure we'll see at least one major correction on the way to new highs, but I think this entry point will be looked back upon fondly for those who buy now.

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Quote from: Wiwo on January 11, 2023, 10:38:08 AM

If we become so excited at this point, what happens when we reach the 20k to 25k market price which is very much expected before the halving cycle that is somewhere around 2024?
Anyways it's not bad to point out any significant movement in price and bitcoin reaching 17k at this moment and that os something we should be grateful for that and except much more market changes that will favour most investors that bought Bitcoin at its lowest price during the bear market around 16k. In the best possible spirit, this should be a time to buy more Bitcoin and not to cash out the dust profits that have been accrued from thos present price increases.

The increase in bitcoin to 17K is a good thing and I hope that the price of bitcoin does not return to 16K, because at the moment the price of bitcoin is still struggling to move above the 17K price area and it is hoped that this area will now become a support that will determine the price of bitcoin will continue to rise gradually .
and currently the bitcoin price is still a good option to collect more bitcoin before the bitcoin price goes up, and if the bitcoin price returns to 16K price there is no need to worry and keep buying for the long term.

Wiwo

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If we become so excited at this point, what happens when we reach the 20k to 25k market price which is very much expected before the halving cycle that is somewhere around 2024?
Anyways it's not bad to point out any significant movement in price and bitcoin reaching 17k at this moment and that os something we should be grateful for that and except much more market changes that will favour most investors that bought Bitcoin at its lowest price during the bear market around 16k. In the best possible spirit, this should be a time to buy more Bitcoin and not to cash out the dust profits that have been accrued from thos present price increases.

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Quote from: aylabadia05 on January 09, 2023, 12:41:46 PM

It is still very possible that the price will decline again. But for today the market is showing positive signals specifically on Bitcoin. If many speculate that 2024 is a possible year to see ATH, then at first glance the speculation is starting to come closer based on today's price situation.
We still consider the current price increase the first step to jump to the $20K price point.

Stay calm and never doubt the future of Bitcoin.

I am still very calm and also do not doubt the future of Bitcoin which has proven good through its history. And if the current increase is any indication of a jump to $20k or a prelude to going to the next ATH next year, I will be even more pleased if this proves to be true and my enthusiasm for continuing to hold Bitcoin also increases.

At the moment I only expect an increase in Bitcoin without considering the possibility for a decline that can still occur, because at that time there is no bad news or news that can scare investors and traders who are often in the market. I believe that Bitcoin will find it easier to get a price increase even though it looks very slow in its movement for now.

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Well, it's definitely better, but not really an indication that we're going bullish. I reckon a break over the $20k would be the minimum at least to call it at that, and that's just the minimum. Still, it is much better and looks more optimistic now since we've finally started seeing some increase in the market ever since that dip a few months back. Currently doing a slow and steady pace of increase with a few days of steady movements which would hopefully continue till $20k maybe before stagnating for a few months again.

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Quote from: mk4 on January 09, 2023, 12:33:07 PM

I really hate being a total utter killjoy and while I'd really love bitcoin to go on a bull market already, are we really getting bullish over this, this soon?

Like come on.

Looking at price action and how candles have printed, this certainly looks like we trading a pullback which many of us are calling a bullish run but this is to early to call! But should we break the $22000 & $25000 price then market direction could change for certain.

Quote from: mich on January 11, 2023, 03:48:40 AM

Well I am 'bullish' but think we will fall back down below 17k again. There is so much fud in the news right now and also with Binance which customers withdrew $360 million just on last Friday.

Certainly not yet bullish just a pullback and Binance users withdrawing their cash is because many use these guys as a wallet service but now the message has been delivered , "Not your private key, Not your coins" and people are simply protecting their assets.

Quote from: mich on January 11, 2023, 03:48:40 AM

I think there are potentially new investors that are nervous and worried about putting their fiat in to Bitcoin at the moment.

I thought Investors aren't short sighted, aren't they suppose to be buying from the weak hands.

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Quote from: michellee on January 11, 2023, 02:23:36 AM

Quote from: Zaguru12 on January 10, 2023, 09:04:17 AM

Quote from: michellee on January 10, 2023, 04:11:53 AM

And until now, the price of bitcoin is still able to stay at $ 17k even though there have been several corrections that have occurred in bitcoin but bitcoin can still last longer. The bitcoin price can go down again and there is a possibility of a return to a lower level than the previous price but we hope that will not happen. And if there is a deeper correction, let's hope the price stays in the $17k range and doesn't drop further down. The bitcoin price will start to gain traction after the first quarter of the year passes well and the price doesn't drop below $17k.

I also believe that the first quarter of the year will be bearish. Even with its recent upsurge to $17K I see it coming down to the 16K mark since it has find support there. The second quarter of the year might see it at the $20K+ price. Then if it finds support there for a longer time and without any major saga like FTX then we might be able to test bullish period in the last quarter. As it is right now there’s isn’t any thing to be concerned about just accumulate by averaging

After experiencing a decline in the past few days, it looks like bitcoin is gaining ground again as we see its price increase. It seems that the condition of the bitcoin price will go back up and down as before but there is a possibility that the price will continue to increase little by little. And after this first quarter, we may see an even higher increase from the current price. But we must always be vigilant because the price of bitcoin can go anywhere and if it means that the price goes down again, we have to use it to buy more bitcoins.

Scenarios like this always happen all the time so I maybe if there's no news that can move the mountain then maybe we can see this to happen until next month. But hopefully there are big news that will surprised up the market which can contribute to all people to feel that they need to accumulate so that we can see some constant good changes on the market so that those other accumulators will go alive again.

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Quote from: mich on January 11, 2023, 03:48:40 AM

Well I am 'bullish' but think we will fall back down below 17k again. There is so much fud in the news right now and also with Binance which customers withdrew $360 million just on last Friday.
I think there are potentially new investors that are nervous and worried about putting their fiat in to Bitcoin at the moment. MicroStrategy who said they will never sell their coins have sold 13.5% of the holdings. HODL your crypto because this new year 2023 might be a bumpy road.

What Fuds about Binance are you referring to? The Fuds I hear about is the controversy between Gemini and DGC, both are accusing each other, and it is worth mentioning that they are from the same company, and one news that is not too important is that cryptodotcom has delisted USDT in the Canadian market. But all is overshadowed and what everyone is most looking forward to right now are the Fed meeting and CPI news.

I also think this is not a sign of bulls in the market but we can expect a short-term rally in January. We need to be careful because it is most likely just a market price trap of gullible people.

mich

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Well I am 'bullish' but think we will fall back down below 17k again. There is so much fud in the news right now and also with Binance which customers withdrew $360 million just on last Friday.
I think there are potentially new investors that are nervous and worried about putting their fiat in to Bitcoin at the moment. MicroStrategy who said they will never sell their coins have sold 13.5% of the holdings. HODL your crypto because this new year 2023 might be a bumpy road.

michellee

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Quote from: Zaguru12 on January 10, 2023, 09:04:17 AM

Quote from: michellee on January 10, 2023, 04:11:53 AM

And until now, the price of bitcoin is still able to stay at $ 17k even though there have been several corrections that have occurred in bitcoin but bitcoin can still last longer. The bitcoin price can go down again and there is a possibility of a return to a lower level than the previous price but we hope that will not happen. And if there is a deeper correction, let's hope the price stays in the $17k range and doesn't drop further down. The bitcoin price will start to gain traction after the first quarter of the year passes well and the price doesn't drop below $17k.

I also believe that the first quarter of the year will be bearish. Even with its recent upsurge to $17K I see it coming down to the 16K mark since it has find support there. The second quarter of the year might see it at the $20K+ price. Then if it finds support there for a longer time and without any major saga like FTX then we might be able to test bullish period in the last quarter. As it is right now there’s isn’t any thing to be concerned about just accumulate by averaging

After experiencing a decline in the past few days, it looks like bitcoin is gaining ground again as we see its price increase. It seems that the condition of the bitcoin price will go back up and down as before but there is a possibility that the price will continue to increase little by little. And after this first quarter, we may see an even higher increase from the current price. But we must always be vigilant because the price of bitcoin can go anywhere and if it means that the price goes down again, we have to use it to buy more bitcoins.

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