Will we see repeat of 2017 or new trend? - page 5.

bestcoins1

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Quote from: kentrolla on December 09, 2023, 01:11:50 PM

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

We probably won't see a big correction in the next few days or at this time, because even if there is a price correction in Bitcoin it won't immediately look like a bear market. I am more confident that this time there will be a difference with what happened in 2017 in Bitcoin even though I also haven't thought about the ATH that will happen directly this month because it is more unlikely that it will happen.

And for the increase in altcoins that is now starting to be seen, this is only because there is still the effect of the increase in the price of Bitcoin, causing the urge to buy more in some of the better cryptocurrencies after many people saw Bitcoin starting to increase its price this month.

Baofeng

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Quote from: kentrolla on December 09, 2023, 01:11:50 PM

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

And why would we see bear market now when we haven't had a new all time high? Remember that the last all time high is around $69k 2 years ago November 2021? So it doesn't make sense that a new pattern will emerge. Maybe this is just new for us because of the effects of the supposedly SEC imminent approval of Spot ETF and so everyone FOMO this last quarter of the year.

So I'm not seeing a major price correction that will trigger bear market for this month. Maybe just some minor decline, but I think the bulls are going to push the price to as close as $45k to $50k target this December. Which means the bullish sentiments of investors are at a high right now.

mirakal

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No one really holds the future of bitcoin, not even Satoshi itself. What happened last 2017 was a legend, as everyone did not expect that bitcoin will suddenly reach an all time high and those who have taken advantage of the bull season might have gained life changing profits and have been living comfortable lives these days. My point is, everything will still be possible with the current position of bitcoin. Who knows actually, as bitcoin is really positive these days and it's not impossible if we can see an early ATH since there are also no negative news that affect the market.

However, there are also chances that we will see the opposite from 2017. The market is so much unpredictable. We can see bitcoin on the top these days, but after tomorrow, I guess we will witness another price then.

Jating

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Quote from: kentrolla on December 09, 2023, 01:11:50 PM

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

2017 is a bull run year, you are correct. 2021 November was also a bull run year and we reach all time high as well. But what triggers this massive increased that we are seeing right now that everyone thinks that we are in a bull run is obviously the news about Spot Bitcoin ETF approval. We haven't heard or seen this in the previous years that's why December right looks very bullish.

As for the price correction who knows, the real test is that what will happen after the block halving next year in April? Will we see the pattern repeat again in 2024, that this is going to be huge rally and then seeing the price in 2025 to be at the 6 digits? For me this is a big possibility and that the pattern will not break.

I think there was a discussion about this, they call it super-cycle like 2 big cycles that is going to happen before all time high, but I disagree to that theory.

cryptomaniac_xxx

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Quote from: kentrolla on December 09, 2023, 01:11:50 PM

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

I mean that is supposedly the cycle is right? 2017 bull run, then followed by the bear market. So the pattern continues so not sure what you new trends are seeing here. So 2023 is pre-halving year, next year we will have the catalyst for the next bull then it might continue up to 2025.

So yeah, this is not a full pledge bull run, it's that investors are trying to push for a good price at least at the end of the year and again, for the preparation of a bitcoin block halving. So there's no new pattern, just the normal cycle that we have been seeing.

You can look the data in here:

https://www.coinglass.com/today

ajiz138

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I look at the previous data between 2017 and 2021 in December it was the peak where ATH occurred on bitcoin, so indeed the month of December has an important bullish and bearish event pattern.

I don't think we're going to see a bear market now because it's already passed, if you refer to previous data bearish will occur after the halving whereas now the halving is getting closer and the month of December is now usually not going to be bearish instead what I see this being a leap will be the same as the previous cycle.
Like this will not be much different but I'm not sure now witnessing bearish again.

Wiwo

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Quote from: kentrolla on December 09, 2023, 01:11:50 PM

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

2017 was a cryptocurrencies market year and that year mark the beginning of a remarkable shift from what used to be the narrative of the market before then and how it was able to change a lot of investors who dived into the market before that time.

But what makes that point different from the current trend is the anticipated bitcoin haven that is around the corner which is expected to happen around match April next year and that can also change a lot of things in the market for Bitcoin.

kentrolla

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I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

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