Topic: Will we see repeat of 2017 or new trend? - page 4. (Read 569 times)

It looks like the trade is quite saturated at the top and needs correction to balance good market prices.
$40k is still the nearest support which is strong enough for now, If it continues to hold I believe there is a fairly high rise again.

If this is said to be excessive optimism, it may be because many investors believe that the price of Bitcoin will continue to surge and believe that next year Bitcoin will get better.
When that optimism becomes excessive, this will create a wave of FOMO-backed halving that will soon occur in the coming months.

experience every four year bitcoin and altcoin price always bull
because every four year bitcoin halvng and revenue from mining reduce so bitcoin price can incrase, about suply and demand
but i thnk still need pumper to can incraese price

Not for this December in my opinion because, because we are in a different cycle and adoption is much stronger than disposal, if it's just a normal correction, between consolidation prices it is a natural thing in my opinion, but if there is a deeper correction it is not possible, such as returning to the price of $20k, what might happen is a side way in my opinion, although at the base the price movement is almost the same, but each cycle has a different story in my opinion, bitcoin dominant also still has the power to be bullish this December.

But isn't it a good thing if it is bearish, because we can still collect more bitcoin before the halving this month, I will follow it continuously.

i don't think that the bitcoin market will repeat the trend of 2017, seeing how positive investors are now and the halving that is getting closer. but maybe in the near future the bitcoin market will experience bearish due to negative sentiment or issues in the market, it is only natural that in market developments there will definitely be bearish but it will not be as severe as 2017. and it will be good again and we will probably see how bitcoin reaches the new ath.

In my opinion, what is happening now is the result of excessive optimism about the approval of the Bitcoin ETF, and people are eagerly awaiting this event and continue to buy Bitcoin, so we have seen this important rise during the past short period.

But this excessive optimism may also lead to adverse results in most cases, as happened today when Bitcoin fell by one candle, with a violent decline of -7% in just one hour.

The market is currently very volatile and the direction cannot be determined accurately, but it is possible that we will witness a decline before the expected rise after the expected Bitcoin halving in the middle of next year.

The current price pump is definitely a bull run with FOMO phase. This is basically another price bubble. I'm sure that this price bubble will burst sooner or later and there will be another bearish season. It's normal for Bitcoin to have bull runs and bearish seasons. This won't change. You can't expect the BTC price to keep going up forever. My expectation is another big regulatory hit over the Bitcoin/crypto world in 2024. The central banks/governments will try to push their CBDC projects further, so they will do everything they can to smash the cryptocurrency world with more regulations and bans.

I agree with you on that,  Bitcoin may likely not see the level of pump it experienced back in 2017 because you rightly said,  bitcoin back then was much cheaper and that made it easy for its market to easily get pumped with little activities and trends.

But right now,  those mechanisms that make the reality of a huge pump happen in 2017 are currently absent such as the total unmined bitcoin and how much the price of bitcoin then compared to now.

Hmm, I was not part of the crypto community in 2017, but I've already heard of the 2017 market cycle, comparing the current sentiments and expected developments I can say that no this was just a pre-wave of the Bull run and there's nothing to be afraid of that we might face a small bear market again, well it can be possible but 95% chances are that we won't fall into such scenario.

Becasue the ETF's hype and the ETF contenders standing in the financial world really deserves such pre-hype. By the end of the year, we can expect a massive jump and then a small consolidation zone over there. Currently if any bad thing happens to the EFT approval any sort of denial or deal after Jan it will be a hit to market and we may see market falling freely for some short time, but according to the lastest SEC's statements and other developments its highly expected in Jan there will be some ETF approvals reserved.

Prior to halving, it's normal if this goes paired with a correction and also with these pumps then we don't have any other direction where it is heading so just be ready to any direction where the market goes.

The market always surprises us unexpectedly. But with assumptions that we've got based on the cycles and histories, if there will be some sudden change then that's better. However, if things go accordingly then you have come prepared and you are expecting things to happen normally. And about a new ATH, maybe it's too early to see that if you're talking bout' 2023 December.

No we wont see a repeat of December 2017.

We are currently PRE HALVING so we are in a bull run, back in December 2017 it was 18
months AFTER the July 2016 halving so the timing was for Bear season in Bitcoins 4
year halving cycle..

If you look at the 3 previous halvings, at least 6 months before the event we enter the
bull phase, and from approximately 12 months after we enter the bear season.

It might be the same month but its a different year and a different time in Bitcoins 4 year cycle.

You know, predicting anything in the market is a bit of a shot in the dark, but your thoughts on where Bitcoin and altcoins are at right now make sense. It doesn't seem like a major correction is coming anytime soon, even if the price dips a bit. Things are way different now than they were back in 2017, with all the big players and experienced investors involved.

That said, expecting Bitcoin to reach a new all-time high in the next few weeks might be a little too optimistic. Even though it's been exciting to see the price climb lately, market cycles tend to take their time.

As for altcoins taking off right now, that's just Bitcoin's influence doing its thing. When people see Bitcoin doing well, they naturally want a piece of the action and start looking into promising altcoins.

I do believe that a repeat of 2020 (or 2016) would be a bit more likely result. Not something HUGE like the 2017 and 2021 ones, those were the big bull runs, I think we are getting into the year that would be just a little bit before that and it could result with something that may benefit everyone one way or another. Why would that be a good thing, why wouldn't we want 100k+ right away but like a year where we barely crack over 60k? Well that would mean we are both going up and giving people time to get in. After that in 2025 its obvious that we are going to have a huge uptick. Thats the four year cycle that we keep talking about and it would quite be similar in the end. We just need to make sure that things are going as smooth as possible during this period.

I think instead of going down, we will move towards new ATH price. We have seen previously a pattern followed by Bitcoins in every 4 year. Last time Bitcoins reached ATH price in 2020, so after 4 years that is in 2024, it is expected that Bitcoins will definitely touch a new ATH price. Still it’s not confirmed 100%. In crypto space anything and everything is possible. So we should always be prepared for the worst.

There is no way to repeat the same thing that happened way back 2017 because of these reasons:

Volatility: In 2017, the volatility of bitcoin was so high that selling of a few investors might have a significant impact on the price. If you compare
                 these days, Bitcoin has lesser volatility which can't hurt the price so much if there were huge selling pressure.

Support/Demand Zones: This an area or levels where small investors and institutions are likely to buy. There is a lot of demand in that area which
                                         helps to prevent the price to fall behind from unexpected dump.

Like I used to say, talk more to your chart rather than anyone, this is a market we are talking about, the behaviour of today is not a future indication of what the market will do. People could speculate, but be careful to use the speculation as it might not be what would eventually happen. You can see what happened already, it's a gradual deviation from what people expected, who knows if what would happen afterwards will be a deviation as well?

Regardless, with my technical chart studies, Bitcoin is bullish and the bullish trend is strong at this phase, therefore extreme caution is needed for the Bears, and if possible, the Bears should just go and sleep for now. Otherwise, the bearish movements might be either fake or negligible to earn them any tangible amount of success. Mind you, December is going gradually and almost half is gone, we should endeavour to only sell when we see the 1D and 1W charts confirming the bearish pattern altogether, especially when there has not been at least two consecutive daily and at least weekly close of the candlestick.

Above all, follow your chart, charts don't lie if you use them correctly.

Yes even I have same instinct as this year it would be different and logically even if ETF is delayed or even denied it shouldn't have huge impact on Bitcoin's price , while there may be uncertainty around altcoin. I feel even if the price of Bitcoin goes through correction still it can pump back right after the Halving which is a positive sign this time as Halving is happening after the mini bull we could call it for the period we are going through right now. I guess any correction if it may occur should be considered as great opportunity for accumulating before the halving for post halving expected bull run.

Hard to predict if prices gonna drop or enter a bear market in December 2023.  I don't think we've hit that kinda bull market yet though and  lots of folks say the bull will keep running through 2024.  We'll see I guess.

this year last quarter is different with that of 2017 because that year was actually a year after the bitcoin halving had occurred which was in 2016 July so it was just following the trend of bitcoin having a new ATH at that period just like that of 2021 too were bitcoin was at 69k. this year is a year before halving and in some past trends like that of 2019 it is supposed to be a bearish period but due to some of the saga in 2022 and how bearish it was some expert actually predicted this mini bull run before the eventual one next year or two. I will also say that the hype around this ETF has actually caused a FOMO which is having its effect on the price. as things are now i don't think we will face a major correction but that will depend on the ETF getting approved next year if it gets postponed again then i think a little price correction will set in, because some aren't actually in for a long term holding but to gain if the approval happens and it pumps the market a bit, should it be denied then some holdings might be sold off

There are some reasons why I doubt the 2017 trend will be different; Bitcoin was much cheaper at that time than it is now -- $900-$20,000 -- so it was easy for the coin to have an enormous pump all at once. When the last bull run started, it took a long time to pump and many corrections before it reached its peak. A difference from 2017 is that this started before the halving took place. I feel the trend this time is likely going to be like the 2021 with similar regular correction while it climb and no one will be able to know when we get to the peak for weeks untill the dip hard

We can really be able to tell that there's no one that could be able to predict on what the future looks like although we can see some patterns but doesnt mean that it would be a guarantee that it would be able to do the same thing on the upcoming months or years to come. At least having these kind of charts will really be telling us that there's really a significant pattern but there are people who dont believe on patterns
on which it is true because no one really knows on what would happen ahead whether it would really be following on the same path or not. Thing here is that we are going near with the halving event and it is really just that there are people who are really that being too positive on the things that we've been doing specially on accumulating on the coins that we are believing that it would really be shooting up its price
when bull run hits. Although it is really just that too early considering it would be on 2024 Q4 - 2025 the rest of it then it is really that too far off. For me then im waiting for the last dump or correction into the market on which i have been that trying out to save up some USDT for me to be able to get in when that time comes. If ever there's that last dump then it would be an advantage for me, but if there's none
then for sure you would really be losing that bull run train again.