When will we see another Bitcoin 4 week boom such as in 2017? - page 2.

thecodebear

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Quote from: BitcoinHodler on May 05, 2019, 07:19:57 AM

it has not found any stability around $5500 market, this price is just a passing level on the way up above the $6k resistance. the "stability" was the prior 5 months when price was stuck in the $3k range and everyone has been accumulating bitcoin at a cheap price. now we are just rising...

as for the next "big jump up" like 2017 it will only happen during the end when we are already in another bubble possibly this time somewhere around $70,000 to $100,000

This.

First commenter answered perfectly.

Price will continue going up until it reaches a peak, probably in a couple years, and the last few weeks of the peak will be like the last few weeks of the last peak, or any other bitcoin boom in the past, where its got a few weeks of crazy gains before crashing. Expect it to come sometime in 2021 probably.

JollyGood

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Quote from: 1Referee on May 05, 2019, 01:16:53 PM

The good thing about these crazy spikes is that you can short them. In most cases what goes up hard comes down hard, so the odds do favor a short in that regard. It happens regardless of what our opinion is, so why not utilize these opportunities the best we can? Accumulating more Bitcoin is my main priority, and these crazy market movements are perfect for that.

$6000 is what I want to see be broken or reject our current rally. We're so close that it's difficult to say something about the direction. If we do break it confidently, I'll open a long position and ride it out. If not, then I'm fine with my current short. In the end, we're either right or wrong, but it's important to put your money where your mouth is. We have way too many empty talkers here not doing what they believe in.

In your case it could well be a case of long term holding that suits you.

If you make a short term gain because of a spike then great but you seem content with the option to sell or hold for the long term. Not all investors are that patient, many try to limit losses or maximise gains and in that process make errors.

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Quote from: JollyGood on May 05, 2019, 06:25:35 AM

Between 17th November 2017 and 17th December 2017 the price of Bitcoin rose from around $7400 to $19300 (according to CMC)

Since that period when almost the whole market was riding high it came back down and hovered around £3000 for a long time. Now finding stability Bitcoin is around $5500 mark.

What next for Bitcoin? What are the market factors needed in pushing for another bull run or mass buying spree?

That’s a question you should never bother asking cause nobody here has the answer to that question . It’s up to you to decide for yourself whether you’re ready to take the risk of Hodl if you can . All of us that were able to make profit from that bull run never expected that to happen. We all thought there was never going to be anything as that, but it happened.

It’s all about being able to take the risk and not everyone can take such risks, there are people who can’t take the risk. You don’t know what’s going to be the outcome of it, you’re just taking the risk and hoping that you get something out of it and also ready at the same time in case there happens to be the opposite.

Cherylstar86

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Quote from: JollyGood on May 06, 2019, 06:19:27 PM

Quote from: gentlemand on May 05, 2019, 11:52:02 AM

Quote from: JollyGood on May 05, 2019, 11:48:13 AM

I do not see Bitcoin rising to that level of $70,000 to $100,000 in the next bubble, that is way too much an over-estimation in my opinion.

It's totally possible. No idea how likely it is.

I think it's largely going to depend on whether the on ramps up their game. If there is a better and bigger selection of avenues, the real biggie being a significant legacy trading platform, then that type of price level is not pie in the sky.

If we're stuck with the same old creaking exchanges and futures continue to grow then it's a different matter.

Eventually sure, I think Bitcoin will be reaching $50k, $75k even $100K but maybe not during the next bubble and spike.

Counter those spikes with any regulation that various governmental agencies might be pushing through as legislation in future - then maybe the price will not go as high as we hope.

Some governments does not shown any interest on bitcoin, instead they taking it illicitly and there is no doubt why bitcoin has grown rapidly due of slow adoptation and negative determination in the field. The current market phase has started to fill out the desirable peak and it may be a good innovation to be consistent with our determination on engaging positivity to claim another bull trend for this year.

upsidedown75

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Quote from: JollyGood on May 06, 2019, 06:12:17 AM

Quote from: gentlemand on May 05, 2019, 10:14:20 AM

I hope it never happens again that intensely. Ultimately it didn't do the majority any good.

What we don't need is another ejaculation followed by an endless hangover in the near future. The more intense the spurt, the longer it takes to regenerate. I'd prefer the odd twitch of life followed by back to steadiness until post halving.

However I suspect there are more people poised to jump in if there's a sign things are going to kick off than there were in 2017 so it's a futile wish.

It is not necessarily a futile wish, maybe majority of investors learned their lesson last time when the 2017 peak prices occured.

I also hope we do not see an intense spike like that again but the way some investors still behave and the way FOMO plays a part for some people - it might be inevitable.

Experience is the greatest teacher, if not for the last experienced, we would probably have had like 3 consecutive bull run this year lol, and many people would have been disappointed and probably leave the crypto space finally.

That last Bull run was something else, it happened because people were just getting use to the market and the idea of using it as investment since it was the first time they will see very high spike. Right now, people would not ever fall for FOMO again, and that is why it may take a little time for us to see bitcoin ATH again, but there will always be increase through the services that bitcoin brought to our system.

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Quote from: gentlemand on May 05, 2019, 11:52:02 AM

Quote from: JollyGood on May 05, 2019, 11:48:13 AM

I do not see Bitcoin rising to that level of $70,000 to $100,000 in the next bubble, that is way too much an over-estimation in my opinion.

It's totally possible. No idea how likely it is.

I think it's largely going to depend on whether the on ramps up their game. If there is a better and bigger selection of avenues, the real biggie being a significant legacy trading platform, then that type of price level is not pie in the sky.

If we're stuck with the same old creaking exchanges and futures continue to grow then it's a different matter.

Eventually sure, I think Bitcoin will be reaching $50k, $75k even $100K but maybe not during the next bubble and spike.

Counter those spikes with any regulation that various governmental agencies might be pushing through as legislation in future - then maybe the price will not go as high as we hope.

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Quote from: JollyGood on May 05, 2019, 06:25:35 AM

What are the market factors needed in pushing for another bull run or mass buying spree?

Same factors why the push happened on 2017.

The difference is, 2017 is pure of hype and successfully attract even those who aren't know crypto well. Year later, price crashed to unexpected bottom coming from a new ATH.

It's quite difficult to experienced again those big hype unless a one big push will initiate by the whales to regain people's confidence. What those left here are crypto enthusiuast prior to new ATH and some of the new players disappear.

Now rather than think of another big thing in BTC, just take advantage of the current happenings. Sooner or later that expectation by majority will surely happen again. Just give it a time.

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I guess we will never see something that quick ever again. It could totally happen if we can break some barriers right away because the resistance is always strongest closer you are so if you can break the first 2-3 resistance in a big whoop then the next resistance is much simpler to break and the next one is even simpler so if you rush going up it is becoming easier and easier.

However, people realized one thing that if you go up that quickly the resistance becomes easy however support becomes non-existing as well which makes price fall much quicker as well. So, instead of going high fastly and then going down fastly as well they go up slow by slow but they do not go down fast anymore which makes us stay at current prices much better and go higher with some support with us.

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Quote from: gentlemand on May 05, 2019, 10:55:58 AM

Quote from: peter0425 on May 05, 2019, 10:18:21 AM

And echo the sentiments that we don't want to see that happen again. Obviously we wanted the price to go up but not like that though, it's scary because it will be followed by another massive dump for sure.

It's a pretty inelastic supply that occasionally gets walloped by bursts of excitement. Further booms and busts are effectively baked in to Bitcoin's nature and human psychology.

The interesting thing is when does it level out? Does it need to be bigger than gold? I'd say BTC is vastly more useful so it would need to keep swelling beyond that until saturation had been reached to have a chance of getting beyond this phase.

Who knows when the actual levelling out will be. It all depends on perception. Some would use gold as the benchmark, others maybe platinum or a fiat currency.

Those bursts of excitement you mention are the real cause of the whole yo-yo effect which fluctuates the price from less than $7000 one day to around $20,000 within a month then back down to $3000 a short while after that.

Adriano2010

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Well i think this will happen next year and we will have a bull run before halving on my opinion. I know people who buy on last bull run want to have faster a bull run so they can make a profit if they still hold, but now we have only step by step grow.

SM23031997

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Slow and steady wins the race.
It will be good if it keeps increasing in a slow and steady manner. More people will come that way.
Most people look for steady return and only a few looks for a boom irrespective of how much risk is involved in it.
Mass adoption will gradually come up with time.

Herbert2020

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Quote from: JollyGood on May 06, 2019, 07:05:22 AM

Quote from: peter0425 on May 05, 2019, 10:18:21 AM

Quote from: JollyGood on May 05, 2019, 06:25:35 AM

Between 17th November 2017 and 17th December 2017 the price of Bitcoin rose from around $7400 to $19300 (according to CMC)

Since that period when almost the whole market was riding high it came back down and hovered around £3000 for a long time. Now finding stability Bitcoin is around $5500 mark.

What next for Bitcoin? What are the market factors needed in pushing for another bull run or mass buying spree?

That rise was due to CBoE and CME offering bitcoin future contracts. So there's a lot of irrational buyers and FOMO was real. But this time, we don't have that kind of news to bring the market to such sudden price increase. And echo the sentiments that we don't want to see that happen again. Obviously we wanted the price to go up but not like that though, it's scary because it will be followed by another massive dump for sure.

Yes seeing the price go so high and so fast was a strange phenomenon because people were waiting for the inevitable dump to follow and the fear of losing the investment.

Thankfully the massive spike of December 2017 was a one-off. It has not re-occurred since.

those huge spikes are always a one time thing during their own cycle that is why people have started talking so much about these so called "cycles of bitcoin" lately. we keep seeing them repeated in a similar fashion with a big boom near the end like what we had in 2017 with $20k, in 2013 with $1200 and in ~2010 with $20 and so on.
if we keep the same cycles true we can see $100k this time in less than 1.5 year from now.

Indrawan77

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We can't predict the market for now and for we don't need that kind of scenario anymore, last time when the price fall down hard a lot of people losing the trust and a lot of them losing money, we need bitcoin to grow slowly but steady, and in order to make the price go high we need more adoption and more transaction volume

cryptjh

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It's impossible to predict when we will have the next 4 weeks of bulls like in late 2017, but a good guess will be when the exchanges can get enough bitcoins for their customers, I guess it will be in 2020 or 2021 and it cut bring bitcoins above 100k

JollyGood

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Quote from: peter0425 on May 05, 2019, 10:18:21 AM

Quote from: JollyGood on May 05, 2019, 06:25:35 AM

Between 17th November 2017 and 17th December 2017 the price of Bitcoin rose from around $7400 to $19300 (according to CMC)

Since that period when almost the whole market was riding high it came back down and hovered around £3000 for a long time. Now finding stability Bitcoin is around $5500 mark.

What next for Bitcoin? What are the market factors needed in pushing for another bull run or mass buying spree?

That rise was due to CBoE and CME offering bitcoin future contracts. So there's a lot of irrational buyers and FOMO was real. But this time, we don't have that kind of news to bring the market to such sudden price increase. And echo the sentiments that we don't want to see that happen again. Obviously we wanted the price to go up but not like that though, it's scary because it will be followed by another massive dump for sure.

Yes seeing the price go so high and so fast was a strange phenomenon because people were waiting for the inevitable dump to follow and the fear of losing the investment.

Thankfully the massive spike of December 2017 was a one-off. It has not re-occurred since.

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Quote from: Jating on May 05, 2019, 07:50:37 AM

Unless some big entity again are ready to pour their money on the market to push the price further, I don't see a dramatic rise in a 4 week span.

Or unless many or all of us small players will re enter the market together as many of us are afraid from what did 2018 failure brings us

Quote

For me it's better to see the price slowly gaining, as compare to a massive spike that we have seen before the end of 2017. For sure when the price goes to the moon again we will see another bubble, which in a sense we doesn't want to see at this point.

Agreed on that,its better to see the small by small growth but constant than what we had in 2017 that only last for short period of time,lets not look for fast pump instead lets aim for small but continues growth

JollyGood

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Quote from: gentlemand on May 05, 2019, 10:14:20 AM

I hope it never happens again that intensely. Ultimately it didn't do the majority any good.

What we don't need is another ejaculation followed by an endless hangover in the near future. The more intense the spurt, the longer it takes to regenerate. I'd prefer the odd twitch of life followed by back to steadiness until post halving.

However I suspect there are more people poised to jump in if there's a sign things are going to kick off than there were in 2017 so it's a futile wish.

It is not necessarily a futile wish, maybe majority of investors learned their lesson last time when the 2017 peak prices occured.

I also hope we do not see an intense spike like that again but the way some investors still behave and the way FOMO plays a part for some people - it might be inevitable.

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Quote from: DoublerHunter on May 06, 2019, 03:25:24 AM

It is really hard to predict and speculate when will be the next bull run in the Bitcoin's market. However, we just have to make sure to keep some of your coins in our wallet and monitor the price as there's the least chance of us having that bull run again. Being optimistic is nice. However, it would give us a big heartbreak as well so you have to make sure to be ready and be passionate about waiting for the right moment.

It everything will be fine in the coming days but not totally confident enough to have a steady uptrend motion cause it really never happens.
Keeping positive on the market will help us to stay in calm of what ever it happens by the next days and to be prepared all the time.

DoublerHunter

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It is really hard to predict and speculate when will be the next bull run in the Bitcoin's market. However, we just have to make sure to keep some of your coins in our wallet and monitor the price as there's the least chance of us having that bull run again. Being optimistic is nice. However, it would give us a big heartbreak as well so you have to make sure to be ready and be passionate about waiting for the right moment.

JollyGood

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Quote from: tomahawk9 on May 05, 2019, 09:57:35 AM

We might see that 4-week surge again once the bull market finally consolidates and prices begin to skyrocket.

Quote from: JollyGood on May 05, 2019, 06:25:35 AM

Now finding stability Bitcoin is around $5500 mark.

We haven't seen any type of consolidation around that number so I'd hardly call it a "stable" mark. The period of stability was predominant around the 3.9k which lasted for a bit over a month before the last massive spike in the price.

Quote from: JollyGood on May 05, 2019, 06:25:35 AM

What are the market factors needed in pushing for another bull run or mass buying spree?

Perhaps, large sums of smart money entering the cryptosphere, triggering a pump in the prices which results in a massive wave of FOMO? Or maybe the bulls will take over the market and start pumping the prices to attract FOMO buyers? Either way, can you spot the common denominator? Well, we need that if we want to see a bull run as big as the last one.

FOMO does play a big part in the reasons why any crypto jumps and spikes and there are other factors which play their part in dramatic falls in prices too. Is it a common denominator in all instances of spikes in all crypto prices? I doubt it.

If only there was a way to confidently forecast when the next 4-6 weeks bull run would be

Grin

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