Topic: Month January 23 - the best month since bitcoin? (Read 285 times)

The increase that occurred in January reached more than 40% and of course this is a fantastic record, making investors more optimistic and panic buying again, I believe that the upward trend can continue as long as there are no major cases like FTX, and slowly investors are getting smarter and prefer to store assets in private wallets so only use exchanges for fast transactions and then immediately transfer assets again.

Bitcoin ended with a price of $23k in January, now we are in February, the price is below $23k. Who knows what will be the price of bitcoin before the end of this month. It is now clear that the price increase that happened in January is a sign of a correction phase of bitcoin price not for the anticipation of a bull run season taking effect in the market.

Let it not be a surprise to us that the bitcoin price will battle between $23k-$25k throughout the end of this February

He doesn't seem worried or excited there so he can surely be calm but anyway, I thought that the correction is already over? And there are no new increases so far to have another one. Maybe what happened isn't a really a correction but it's just a normal fluctuation in the price. We shall not forget that BTC is still a volatile or unstable crypto.

I think all are aware that $25k is one of a huge barrier. We haven't touch it yet as it might be early to start a bull run for now. Even not a bull run but only to see a $35k is indeed can give us a good feeling already because it's been a long time since the last time we saw it and people can also sell some for profits.

If anything, it means we won't go parabolic. The year-long rally (that ends in an ATH) generally starts in the middle of the year, so if we do see the start of one this year, it'll be in 2024 we see some heavy returns to the green.

Also, it's just way too soon since the last one.

That said, nothing means anything anymore with Bitcoin treading in unfamiliar territory (widespread adoption and recognition, against a backdrop of global recession).

But we need to be calm though, right now we've experience some minor correction already, down to $22k++. So it seems the big psychological barrier is $25k and we haven't touch that yet.

So we might have one of the best month in bitcoin's history, but it doesn't mean it will go parabolic this year. Technically, we are in the midst of the bear market, so everything can still end up in a negative way for the next 10 months or so. If could be amazing as you have said if we are going to $35k, but I wouldn't be surprised if we don't.

Now it's February and the price difference with January is also not that far because the increase is not that significant even though the recovery has started in Bitcoin. I would consider the recovery to be amazing when Bitcoin is able to top $35K within the year as that is half the ATH Bitcoin has ever been. Because I don't think and believe that a new ATH in Bitcoin will be reached this year, and besides, Bitcoin always takes more time to increase to create a new ATH.

I saw yesterday being there but now the price is back at $ 23.4k, but with conditions like this it makes me a little more optimistic now because indeed they can still be in better conditions.
However, stay alert if you are a day trader as there can be some unexpected ups and downs which makes this a bit more risky although it is less impactful for those in the long term.

We have passed 24k, so I expect it to be easy to reach the next target of 25k. If we manage to pass 25k, I expect, in my opinion, the next target will be 28k, and then 30k as the last goal in this interim period.

In general, Bitcoin's behavior was very good in the first month of 2023, which is the best in almost ten years. This is very promising behavior, especially as we approach Halving next year.

Of course, we have to mention that during that we might see a lot of corrections, but this is not effective in the long term.

Agree, bitcoin will have to be correct as we are still in the bear season, and the economy is still very volatile, it is not as stable as people imagine. Inflation is falling, but that doesn't mean the economy is recovering, looking at big businesses laying off thousands of employees every month is enough to see the economy is not good. Therefore, it is difficult to expect the financial industry or the cryptocurrency market to recover significantly. But the exciting thing is that no one knows how far this bitcoin pump will reach before the correction.

The price at the end of december was around $16k and last january had touched $23700 so there was an increase of around 45%, you could say since bitcoin skyrocketed in 2013 then last january's increase was the highest, of course bitcoin is being reported more and more by the media and this keeps new users growing so I'm sure that in 2023 there will be new ATH again.

Yeah right, it's not a very significant recovery for Bitcoin and can't say it's recovered, but at least right now from some of the upswing and starting from early january we think we've had a bit of a recovery that hasn't fully recovered, and we think Bitcoin performed well this month, and was able to end january at a good price, even though it didn't hit that significant ATH.

Nice tracking of the monthly performance of bitcoin price in the previous years. I'm saving the graph for future reference. Maybe Chinese whales are trading according to their beliefs and superstitions. So since 2013, Februaries and Octobers are the best months for bitcoin. And I thought the ghost months are the worst months to trade but it seems that Septembers are the worst months. Anyways, we might not have the same performance this month since January lit it up already with a nearly 50% increase. But we might see another bull run if bitcoin breaks the $24k-$25k resistance.

I am also optimistic about its growth but frankly saying $100k at this time seems long term game as first we have to break down the previous ATH of $68K and then head towards the next goal but yes it's achievable if are patient enough.But for short term it can go down also with any FUD or negative news but happy to see some small pumps taking it above $22k after long wait so let's see how well it goes from here.

It's an interesting observation, and it seems that the rise is indeed higher than ever since 2013. However, that doesn't mean much per se, of course, as if other months don't go well, it won't be much of an achievement. I must say, though, that I didn't notice that the increase was so high, I was surprised to see 40% when I calculated the change myself. So far, so good. I'm happy Bitcoin is holding together well now, but I won't be surprised if there will be a fall back to the previous $17k or $20k barrier.

And I would repeat what I thought two days ago when I first replied to this thread, I think there is nothing wrong with having a bit of optimism, even though the context is that Bitcoin was performing so so badly that it was impossible to do even worse

Optimism and FOMO in January might not be a bad thing at all, we all need a little break!

Now if we could please at least hold on to this sideways above 20000 for the entire February it would be great. I feel as if the problem now is confidence is so hard to build in the market after so many consecutive beatings in 2022.

Yes, that's right. Either way, 2023 has got off to a good start and some FOMO is certainly not bad for the overall market. 

I know that, and there's nothing wrong with that. Hope you didn't take my little joke too personally. Didn't mean you any harm. 

A few days ago bitcoin tried to capture the $24k area but unfortunately bitcoin was only able to be in the $23,918k area according to the Coinmarketcap price movement chart and became the highest level of bitcoin during January, after being able to be at the highest level of the area only for a while then the bitcoin price underwent a slight correction came back and is now down to a price of $22,841k at the time of this post.
There are only a few hours left in late January and it doesn't look like bitcoin has the strength to close the month at $25k as there are currently no positive signs to help propel its move towards that price for the rest of the month.

According your table the best month October look at that 10 Year and only 2 missing its like a win streak just like February did better pack it up right now and selling on February buy again march sell it on April or July

those shouting that growth is recovery have the mindset that bitcoin was suppose to be higher and that we crashed and now its healing, recovering

no. just no.
the ATH is a temporary event. not the point of value. its infact a point of premium. where you are more guaranteed to lose value buying in at the ATH

reality is that VALUE is not found at the high. the "store of value" is not the ATH amount

the store of value is the non-zero bottom

EG 2021 was $10k store of value
EG 2022 was $15k store of value

when the market premiumed to $70k
that meant that anyone buying at $70k was not protecting 100% of their wealth
they were only protecting 22% of their wealth

to protect say 95% of wealth is better to have bought 4.375btc at $16k rather than 1btc at $70k**

the recovery/value correction is when the speculative market comes back down from a speculative premium ATH bubble

thats the key good buying point of bitcoin. the ATh is not the good value store of btc. thats the good value store of fiat when your about to sell to get fiat.

again thinking if from a fiat inflation side where all you care about is maximising fiat you need to flip the mindset when talking about trying to maximise your btc holdings

**
think about it.. which is better
buy 1btc at $70k. it then corrects and recovers to near value of $16k by which if it then rose to 90$ in 2023 you only gain $20k when you sell

or buying 4.375k for that same fiat lump of $70k investment. which again if market then goes to $90k = 393.75(4.375@90) meaning you gain 323k on your initial $70k

..
those shouting that recovering to some ATH is the ones thinking in fiat mindset of their exit of a FIAT investment.. .. not thinking of value recovering/correction down of investing in btc

you are not a bitcoin investor if all you can think of is future holdings of mass fiat.
a bitcoin investor is thinking about accumilating bitcoin and protecting his wealth in the process by buying low

Everybody is shouting because of the little increment of Bitcoin so I can believe that bitcoin have a growth in this January 2023 but it's not due or enough for me to say that bitcoin is all in this new year or bitcoin have reached her ponder that we cannot think of it falling again so this time around I think about bitcoin still have a long way to go before it will fall or rise