Bitcoin Forum

It was pointed out on Twitter that, just two short years ago, Bitcoin was hitting the peak of its most recent bull run — touching close to $20,000. The question of what the recent bear market has meant for the asset was then debated, with some claiming that this is the beginning of the end… and others unconcerned.

The point was originally made by Twitter account of Rob “Crypto Bobby” Paone (@crypto_bobby) in a tweet, where he shared what the market price of both Bitcoin and Ethereum were two years ago to the day.

Source link here (https://beincrypto.com/two-years-ago-bitcoin-was-over-19000-what-happened/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc)

To all of those who have experience the big bull run of Bitcoin and other cryptocurrencies, I know how it feels.

We wish that Bitcoin would have another round of big bull run like what happened a couple of years ago. That's where I finally getting serious about Bitcoin after years of being skeptic.

I was just fortunate back then while I invested some coins and tokens, I sell when it peaked and I didn't wait anymore till the value goes down.

For me, I think the market has matured enough and it may not likely repeat like what happened in 2017 (but I could be wrong too if analysts are correct about their bull run prediction), but it would be unlikely.

What happened is that markets are fickle and people generally get stressed out over nothing.  I'm honestly past caring whether it's bull or bear season because I have no plans to sell in the foreseeable future.  Given that the traditional economy has effectively failed an entire generation or two, BTC is now, most likely, the only way I'm going to have anything resembling a pension when I retire.  This shit is my nest egg now.  Accumulate and hodl*.

_{*<insert usual disclaimer about not being a qualified financial advisor>}

He probably forget three years ago, bitcoin was by far less than $100, they’re just trying to cherry picking on the price, but two and three years does it make much difference? Do you brother with what you did five years ago? I could barely remember three years ago and every moment.

It is likely that Bitcoin will several times rise to the same high price values. However, what will happen next is difficult to say. If after each such growth Bitcoin will also fall in price for at least two years, which of the investors will want to invest their money in it and so risk it. Will it continue to rise in price or rise and then fall ?. Not only the fate of Bitcoin, but also the further direction of the development of cryptocurrency depends on this.

2017 was just a bubble waiting to be burst. Lots of irrational buyers that time that really push the price to it's breaking point, so obviously it did go down, and go down hard. And this market is fairly new, we haven't seen that kind of meteoric rise before that's why many believed that the price will continue on its parabolic rise. But all signs are pointing that it had bubbled already, but investors chooses to ignore this signs. So let's wait for the next bubble to occur, 2021 (4 year cycle)?

Yes it seems like new traders, have just felt the biggest risk of trading in crypto and here it is, falling to the point where people are very scared, the end of the year and the expected price really misses what is expected, halving and other events cannot give positive impact.

Tulips went out of fashion

Actually you got it backwards. The slower it goes up, the less likely it bounces back down. Bull (or bear) "runs" are trouble, expect a correction.

You could say the last two years have been correcting that 19k madness. It was too quick too fast, as simple as that.

As time goes bitcoin price is only going to fluctuate less and less, but we are not quite there yet. And no, it will never go flat, because Bitcoin is deflationary while fiats all lose value intentionally as they all follow the Chicago school dogma.

We wish that Bitcoin would NOT have another round of big anything, unless you are a trader rather than a holder. Wishes, of course, don't determine market price. Wishing is free, but facts are what they are.

I remember that December, the price spike was so high i clearly knew it was going to plummet. If you buy only after the fact (when everybody else is buying) you are doing it wrong. Who bought at 19k thinking it would reach 50k or so was simply not paying attention.

The faster it moves, the less you should be getting in. You only took it seriously after this crazy sudden spike? Why you didn't buy at 600$ in 2016 then after that halving? The price was so boringly stable, precisely... And today its worth 10 times more.

I missed to sell during that period for my altcoins but then I have no choice but to held it and just wait patiently until another bull run comes or else, it's already the gamble that I have and also aware of having nothing in return.

This time, bitcoin is growing naturally and we'll see it grow with the people and institutions that are really believing to it. The drop of price determined who were the people that's really interested on it no matter how huge or small the drop was.

Five years ago, Bitcoin was below $200. What happened? ;)

This is just price discovery in action. Some people believe that Bitcoin will always be fated for these "boom and bust" cycles (https://www.coindesk.com/bitcoin-fated-boom-bust). They might be right about that.

If we keep on thinking in such a manner, then it isn't two years back we need to keep digging for ten years back. The value has emerged out of valueless token which has given a new framework for the financial infrastructure that's been built all around. With this it is quite easy to make things get mutual growth as well as have everything transparent.

2017 was a big year for Bitcoin, it zoomed past and created history. 2018 was the year of correction and community reforms. 2019 till it ends will be known for new endeavors and new investment from Big corporates, acknowledging and accepting the power of Bitcoin. 2020 will be the year of halving and 2021 will be when Bitcoin creates a new all time high.

Keep that in mind.

We should be thankful that a bear market happened after that $19,000-$20,000.

Without it, people will just think that bitcoin is an easy money scheme, there will be lots of ICOs without use-case gathers money from people easily, people will think of selling every their assets just to put on bitcoin, bitcoin will not act as a currency but more likely will be used in ponzis and many more on which we don't want to happen.

This also proves that the 2017 run is complete manipulation and just a hype. That run was unhealthy and we all witnessed what happened after that. We do now have a reference on what to if ever the same thing will happen again.

People expecting more from a highly-inflated and artificial price do not understand that that wiuldn't and shouldn't hold out for much too long. It's bound to happen anyway considering that no new money can be injected towards bitcoin. See, I still believe that bitcoin has proven that its pricing is cyclical and it will always have its ups and downs and will continue to post records even if people themselves don't believe in such.

Everyone has their own theory but I also have mine, it does not mean that i am not open for another theory but I really think manipulation is the cause of them all. Well, I am also not saying manipulation is bad for what the market has become because without the pump and dump, BTC would not even reach $1,000 IMO.

Timing is just necessary here, let's not be greedy, we just have to sell at the right time.

Bitcoin during the last bull gives a good price but it was due to hype so price was overvalued and obvious correction is due to happen, however some did not see that coming, so they loss,... maybe the next bull run might be a little harder due to that bad experience.

Though 2018 was more like a market correction. But FUDs, FOMO and unrealistic prediction and speculation is what happened, is it major influence.
People good at overhypeing most Bitcoin activities or events to faults.
The price of Bitcoin will pump again and it will cross more than 2017 prices but again it 'will' dump to certain amount. And its because people's are controlled by their emotions.

you have a point on that statement! people need to learn the true value of bitcoin. most of the users who learned and bought only at the end of 2017 were the ones who thought that bitcoin is an easy money-making investment. but they were wrong!
in 2018, a lot of people learned about crypto in general. with so many crap projects created and ended, people who lost money, people who were deceived by glittering promise of passive income, high returns, etc
but even after all these hullabaloos, bitcoin still stand strong and the adoption is growing. we just need to learn in a hard way that bitcoin or crypto is not a road to get-rich-quick life!

You were either very smart or really lucky if that's what happened, but good on you if you made a profit. 

It was pretty clear in 2017 that the bubble wouldn't be able to sustain itself, and it was obvious to me that that's what it was, a bubble.  Bitcoin, altcoins, tokens, everything was just going up all the time and people were going crazy about all things crypto.  Unfortunately I wasn't much of a hodler in 2017 so I didn't take advantage of the madness, but I'm sure a lot of people did...and a lot got burned by the market as well.

And then here we are today, still recovering from that insanity and it doesn't seem like bitcoin is ever going to grow some legs again.  But the market is still higher than where it was at the beginning of 2019, at least for bitcoin.  Altcoins are still struggling, but those will probably showing some life next year.

I think, you only can say this because of previous dumps happening on Bitcoin especially fall from $19,000 upto below $4,000..
Although that is also unbelievable but for what I saw, that is just an correction for the parabolic run upto $19,000.

But you also have a point when you say the market has matured enough, I also think that. But still, majority of us still hoping a new all-time-high.

no one knows what will happen in the future, everyone has different predictions about bitcoin, even then nobody thought that bitcoin could reach nearly $ 20,000, because at that time prices continued to rise and almost never went down, so that in a short time bitcoin can reach almost $ 20,000, I hope that time like that can be repeated again.

You are right it might come or will not, since as you said people and the market is mature enough , during those times people get hype and though it will continue to go up, but never happen , since its clearly a bit manipulated, maybe we will witness this bull run , but when will be a bit hard to find out because, there are things to be consider before it happens specially these times

You can't expect the market to always peak and at that time everything is overvalued. So many shitcoin have the high price it doesn't deserve as a result bitcoin got affected and then emerge the negative stigma of bitcoin among people with the bearish market that unfortunately drive down the price so hard. Right now the market is being stable, though it's always in my favour if it could repeat the history again and somehow could keep up or even better improving the prices.

pumps like 2017 are really expected to return, and maybe if the pump happens again it could have reached a new peak price. waiting is something that can be done right now because I also don't believe 100% that the coming year can provide pumps like 2017, but I am sure that price movements can improve in that year.

11 months ago bitcoin was $3,600, now look at the price. I'm doubting that the next big bull run will happen anytime soon because people were stupid back then, they thought that Bitcoin is a get rich scheme investment which pulled a lot of people, even non-investors, into investing into Bitcoin. That cause the Bull run to reach $19,000.

It was just a cycle, first bull run, majority of us are not here yet. However, after that everyone wants to jump on the bandwagon so there's a lot of first during 2017.

(1) Japan entered the picture, pushing the price even further
(2) CME and CBoE bitcoin future contracts in December

Those two are really the factors that really push everything in 2017, even it has positive effect on the ICO, airdrops, bounties are profitable. People are making tons of money, so it was really a price discovery process for everyone. Crypto enthusiast are elated and everyone thinks that this is good, but some knows that it won't be sustainable. So they started selling at the peaked and then panic, noobs was trap, but still they didn't know the market well, so they also cash out with a loss. So it's going to be cyclical at less everyone is ready now for the next bull cycle.

There is a cycle after all, there is no forever bull run or bearish market. The trend is always changing, it was 2 years ago and it is the time where the market is healthy. The market crashed recently and it is why the trend is bearish but it is normal after all because I'm sure that it will turn into bullish. It is better to accumulate now many bitcoins in order for us to gain profit when the bull market comes.

Hi, newbie here to give my two cents. I agree that there is a cycle to things of value and a few factors in 2017 has contributed to its high that year. However, I also believe that bitcoin is fundamentally treated as digital gold. The commodity tagged to bitcoin resulted in the fluctuating prices but ultimately, it is a supply and demand game. As long as demand for bitcoin is not high, the price will remain low.

So how do we create demand? I believe the utility of bitcoin needs to expand, it needs to be used for payments or transactions, bitcoin needs to serve its purpose of being created in the first place. However, till now, only a handful of merchants or businesses accepts bitcoin as payment. If only the big players that benefited from the 2017 bull would establish businesses that accept bitcoin as payment, creating an economy around bitcoin?

An even more far-fetched idea, maybe establish a town that uses bitcoin as the only accepted currency? That will be awesome! Maybe cause I am still new to the scene, I find the possibilities extremely exciting.

So you are lucky enough to make a profit from that time, I also tried to grab that opportunity to make something and obviously, that was the golden moment for Bitcoin, A lot of people made a huge profit during that peak moment of Bitcoin, But one thing you should also remind that just before one the year of 2017, Bitcoin price was below 1k$, so how could happen that scenario within a short time, and really it's a surprising issue that after that effect we could not find another market bull, that is why it made me astonished about the recent time's happening of this market. who knows when it comes again?

The true cause of the frequent change of the market value of bitcoin is not really known and understood but since the whole network of the bitcoin blockchain network is decentralized, it is assumed that the price changes of bitcoin is based on the principle of demand and supply. During the year which the market value of bitcoin was $19k, I was assumed that the demand for Bitcoin was more than the rate at which Bitcoin was been supplied. Since the demand was more than supply, it affected the market value of it. But for some time now, the demand for Bitcoin is below its supply causing the drop in its market value. This has been the only underlining concept behind the changes in the market value of Bitcoin..  

In any case, what happened in 2016 and 2017 is fundamentally different from the current situation in the cryptocurrency market.  The fact is that 2 years ago there was a very active advertising campaign for cryptocurrency and the ability to quickly earn a lot of money.  These words have always been confirmed, because not only investors who bought tokens of new projects at a 50 percent discount during pre-sales, making huge profits a few weeks after listing, but participants in the Bounty companies had the opportunity to earn several thousand dollars for only one Bounty  company.  After the market started a bull run and Bitcoin began to rise rapidly to $ 20,000, people wanted to invest in bitcoin, relying on forecasts that sounded $ 50,000 and $ 100,000 for bitcoin.  But the market fell and many people lost their money, which they took on credit and sold their real estate, if only to invest them in cryptocurrency.  Now, many investors are wary of investing in the cryptocurrency market and carefully choose projects, while withdrawing cryptocurrency into real money at the slightest danger.

At first I am looking for adequate arguments regarding bitcoin's high price, why do we need it? Doesn't current supply and price meet demand requirements? Do you had any problem in using bitcoin because of current price? Were you unable to send/receive btc? I think in overall even current price and lower is 100% enough for bitcoin usage but we all want high price because people look at bitcoin as an investment option and to profit from investment, yes, we need higher price of bitcoin.
Let's remind what was the cause of price rise in past? Halving. Why? Because in overall there was very positive look regarding to this event and people thought this: Halving means reward will be 1/2 of current one that means mining will be unprofitable and we need miners in order to get transactions confirmed so we need higher price to make mining profitable and get profit from your bitcoins. And then boom, bitcoin reached unbelievable 1000$ that was sensation at the moment and was pointed that our goal was achieved but somehow we didn't stop there and continue rise, we reached 2000$ despite the fact that still had some lows but finally what was happening was rise and we reached 20K USD.
I expect the same, today we had almost 10% rise and that's great result, this means people haven't lost hope in better price and that halving is coming, will be interesting to see tomorrow's situation and in overall what will happen this month. I think we will see rise after the Christmas.

Bitcoin ATH way back 2017 wasn't supposed to happen like that, I expected it to stop at around 13,000$ but then FOMO that time was really strong that it pushed it at around those price levels. With big price jumps like that at a short period the bigger the marke confidence will decrease and adding more fuel to that fire is profit takers rushing in to jump out of the market thus resulting to where we are now. Also I don't have the same sentiments about you that the ATH cannot be beaten ir at least be repeated we may never know but with the incrsasing demand for crypto I know we will have a more stable price increase for it.

Noone knows what will happen next with Bitcoin price, however, if we look at more wider picture, we can see that in the coming years, the price of Bitcoin may significantly increase due to the demand and the influence of many factors such as increasing attractiveness to investors, competing with the market capitalization of gold. Another noteworthy factor is the expected World's economic crisis when everyone lost their faith on their government and their national monetary system. In my own opinion, I do believe that there will be another bullrun of the whole market (not only Bitcoin) and it will be much bigger than the previous one.

The bullish pump of 2017 was way beyond the expectation and exceeded it's limit wherein we got so many investors who continued to buy it when it was already at peak and then as expected we are going through a long bearish correction period and I am not sure if we could ever see any similar pump which we have witnessed back in 2017 as it was caused purely because of high emotions and FOMO when the market was good.

Correction happens, well, back then the price of Bitcoin was just $100 USD and several years later it began to expand in price, but there is a certain movement that keeps on repeating but at the end the price of Bitcoin become sturdy and increasing, I really think that he doesn't only have all-time highs but a correction may come after that incredible increase in the price,

Many Bitcoin enthusiasts already know this kind of movement and that is why many are still returning to Bitcoin even though the price right now is falling apart.

Many Bitcoin enthusiasts are here for a long time. We were here before that 2017 when prices were much lower. We are here cause we know that Bitcoin can do more, this is not over. Bitcoin price is high, many people can't afford Bitcoin now, and in the future, it will be even more expensive than it's now. Volatility is normal in the crypto market, it's a rising market, we have ups and downs, like every other market, but nobody can't say that we are not bigger then we were before.

You've sold at peak then what's the problem? You are lucky, you've got the chance to sell at peak and right now you had a chance to buy at low price again. Are you sad because of the price right now? Price is actually doubled from what we have January this year. So that means, we are about to open 2020 higher or double. You can't please the price to be at peak when you want to because you are tired of waiting. You had to accept that we have more time of bear market and that's why patience is one of the key if you want to become successful here.

Because they do believe that bitcoin is in the positive trend for the next coming years.
If institutions or merchants do not have the faith on bitcoin, will they continue to explore bitcoin or crypto as part of their payment method?
Since adoption is growing each day and more big companies are integrating blockchain technology, then I have high hopes with crypto in general.
The drop from over $19k to where we are now, is expected as that price was driven by sudden flock of newbies in crypto thinking that they need to join the hype at that time.
But the number of crypto users are still growing so they believe the benefits derive from crypto after all.

11 months  ? you mean to say around last year the price of btc was at 3600 usd  ?  idk if that was a typo or not but last year the price of btc was already high and i think it was sitting at 10k   . 

that was back then and it was already over  . the pump already happen last two years ago and people realized that btc is not really a quick rich scheme so they refrain from investing too much by now  .   

@op everything happens for a reason  . the price drop because people or should i say manipulators just sold thier coins   .

this "crypto utopia" idea where bitcoin would underpin a city keeps resurfacing. the first iteration, bitcointopia, turned out to be a real estate fraud scheme. https://www.sandiegouniontribune.com/news/courts/sd-me-bitcointopia-20181104-story.html

a guy named jeffrey berns bought 67k acres of land in nevada and claims to have invested $300 million towards his plan.
https://www.nytimes.com/2018/11/01/technology/nevada-bitcoin-blockchain-society.html

building it in the middle of nowhere seems ill-advised to me.

Instead of being busy searching for answers what really happened and why it did not happened again in 2018 and maybe in 2019 as well, I would rather watch my coins and wait for it to reach my goals and sell. I will let other not so busy traders out there to search for the answer.

However, what I know is there are a bunch of Stockmarket traders who switched to Cryptos and dump when it reached their goal which very much well played. Thats how traders should work too, buy and sell upon reaching the target and move on.

It's a good thing that most bitcoiners are thinking differently. We're trading to increase our sats, not to make some fiat gains.

It drops so hard after the ATH's because when the bitcoin value already slowly dropping. Then some big investors just invest without even knowing that it will drop more so hard and got their investments lose so maybe they just turn their back to bitcoin.

nothing is impossible in crypto, you can see the history of price movements, there are so many things that we think are impossible, but that can be done by bitcoin.
I believe history can repeat it. halving next year can make that happen again, even many predict it could go higher than 2017.

That's not what this all about. The season which was mentioned by the analysis on Twitter was halving effect season and during such period very genuine or strong crypto are all expected to hit a new ATH through the following of bitcoin market trend and later experience market blood bath with correction for a new accumulation chance.
Meanwhile, experienced investors understand that buying or investing when the market us at ATH is die investment.

From a holders perspective, I doubt there should be any reason to worry about these daily price fluctuations. Holders should leave speculation to traders. Cryptocurrency and bitcoin has come to stay and its value is high important to the scheme of things which makes bitcoin integral to the development of future world economy

If only one could see the future.  Cycles have always happened like this in crypto.  From nothing to $30 then back down to $1, the the run up in 2013 to $1000 only to come back to $180, then the run to $20,000 then back to $3,000.  I would like to say there is a pattern but that is only speculation.  Has crypto matured where dramatic spikes wont occur again, I dont think so it is a very very young market.

I don't know why people keep on comparing the price of bitcoin with the price two years ago (during the sudden price rise). Look at the price of bitcoin four years ago and compare it now. Look at the of bitcoin six years ago and you will see that we multiplied our price by many folds! The price of bitcoin is meant to increase in the long run and more people gets to know about it. The short run price of bitcoin is totally unpredictable since the price is very volatile and sensitive to every events that might take place.

Yeah, it's funny that a lot of people can't move on from that ATH but yes, if you compare it years before that, you will be grateful for whatever bitcoin has accomplished til now. That ATH is like the career peak of bitcoin and we don't know when will it happen again. But with more knowledgeable crypto users and more adoption, I believe the future of bitcoin is still bright.

Damn, you must be watching another Bitcoin in another timeline. 3 years ago meaning 2017 the lowest price was 700 dollars. If we include November and December of 2017 to make it exactly 3 years it was 600 dollars. Say you meant 4 years then the lowest was 150 and the price barely touched that level and went back to 200.
Last time we were below 100 was in 2013.

I don't know why others, especially those who witnessed the 2017 hype, are hoping or "wishing" for another bull run in just a matter of a short period of time after the biggest crash in history last year. Just imagine after just several months when that new established ATH happens, bitcoin price crashes to an unexpected bottom. Do these people didn't learn from that crash? Do they really want to repeat that 2017 rally with only pure hype as a foundation?

No need for a rush. Let the progress evolves slowly so that we can assure that we will have a healthy run and not just a product of pure hype. I know it's impossible to happen for now that we will have growth without an involved hype but at least we want to make sure that the next big run is a product mostly by pure demand.

For now, enjoy the bottom. If people are really optimistic about bitcoin's future, they have to trust the process even it will take several years in the making.

Price was to high back then. A lot sold as soon as it got over $10000. Or bought altcoins. It was a crazy time. We are lucky we live now in such peaceful times.

All markets regardless of their maturity will experience bubbles from time to time, what we saw in 2017 was the perfect combination of several factors that made people really positive about the future of cryptocurrencies, I'm still very positive about it but now I understand like most people here that went through that bubble that it is going to take a lot more time for bitcoin to reach its ultimate goal of becoming a currency that is accepted everywhere.

Just keep the faith, Bitcoins technology and purpose itself is the real factor that will drive the prices up in the next few years. Where all here to make money I assume but it will take time again before we can see a significant growth. The recent ATH was a product of hype and not a real growth but the fundamental of Bitcoin remains forever and I will not be doubtful of its potential.

Market isn't always what we think it should be. It doesn't work in a way we want it to. Surely, dumps and high rate of demand plays a big role in controlling the market but it doesn't rely on much of that. It has other sector that other people might know or not. And besides, though high price brings fortune still we have to take work in earning that, that's why bear market isn't always a bad thing because that is anther opportunity for us to save and take advantage when market is at its peak.

Haha, maybe you are right! Everyone becomes wiser or at least doesn't care about it anymore. I'm still looking forward to what will happen next year after Bitcoin Halving happens. Maybe, we're staying in a silence time before a big storm, but perhaps we also have gone through the glorious time of Bitcoin and crypto. But I love this, the harder it's to guess, the more interesting it becomes.

It may still happen depending on the mainstream media and what whales will do with it. We can reach to 20 thousand dollars and stay there, we had that type of increase before, remember that 1500 dollars or so all time high we had for a while? We broke that on a regular Tuesday type of deal, we didn't skyrocket beyond it, we slowly and gradually went above it and reached 20 thousand, so 1400 was all time high and we went to 20 thousand instead.

Now could the same happen? Sure why not, it is a possibility but nobody really knows if that is the way bitcoin will go, maybe we will reach to 20 thousand once again and media will talk about how selling right now guarantees profit and whales may start shorting at the same time and all hell could get loose once again, we don't know.

Mainstream media make many people panic for selling bitcoin and make price become down, many countries try to make bitcoin have lower price by giving fake news by media and use social media in twitter and Facebook to make bitcoin down, if bitcoin reached with higher price above $16k no one want save their money in the bank and like for investing with bitcoin only.

If selling your crypto asset after you hit the target is called dumping, then yeah all of us are dumping, even Bitcoin.
The thing is, retail investors can't pump any coin in the market alone. We need big players to pour in massive dollars to Bitcoin or any other alts for the marketcap to increase. Thus, the unprecedented rise of Bitcoin in 2017 will happen again.
One thing I noticed in the market today is, It doesn't have a strong indicator that we're going to have the bull on 2020.

Well back then it was hype and FOMO. Not all that bought in knew what they're dealing with. Just the hope of making big easy money. Now, after what happened in 2018, people see bitcoin differently. I think it'll be hard to get the same people to jump into another FOMO like that. That's why unless whales start a drastic pump, I don't think we'll have the same movement anytime soon.

So you mean that bitcoin halving will have no impact on the start of the next bull run. Also even if those people do not rebuy, don't you think we have new investments both individual and institutional which is another reason why bitcoin should be moving up always. Back in time 2017, there were very less awareness of bitcoins as it is now, so more people should jump in the train this time around.

Its not about the number of people know about bitcoins, it more about the perception of bitcoins. People have seen all those who invested at the top and got Rekt.
This means no one will be willing to buy bitcoins as soon as it starts to pump and therefore it will reach much less amount than we may expect it to be.

Alot of people have known roughly of Bitcoin since 2013, the more important part would be actual use or need and desire to utilise Bitcoin to their advantage.   Thats the base level to watch for proper price movements, the 2017 rise was partly a feedback loop of people believing the price would go higher so it did as more people took up BTC they didn't actively intend to use or keep.
   Hence the rise becomes a peak and spike up as the usage was not there, it takes far longer to accumulate proper revenue in BTC beyond speculation.    Its a familiar cycle, its partly down to easy Dollar policy allowing people to speculate elsewhere.   I'd say its destructive but apparently BTC can handle the fluctuation and continues with some genuine growth at a slower pace.

The market has matured and therefore the market has getting stronger.
2017 may not happen again but we can expect that the market will grow steady if that's what we believe that the market has matured.

However, based on my observation, the market seems still easily get manipulated as FOMO and FUD are still here.

Like what happen this year, we all witness an increase of bitcoin price for 30% in within 24 hours and for me, it's not a good sign of market maturity.

Everyone who invested in the market during the last bull made a ton of profit unless they came in the market when the market was at its peak and i am not expecting the same rally this time but i am expecting the bulls to push to reach the all time valuation we hit last time and if that happens this time i will once again book my profit and wait for the market to settle down, i might not be selling everything but will look for the market to see how long it can go in the next rally.

$19000 was an abnormal rise and market has to take correction after that huge pumping. Price jumped to $19000 because it was first time bitcoin came to spotlight and everyone started jumping without knowing the future. I don't think we will again see $19k as people are now more careful in investment.

I highly believe that it wont really get rid of those Fud and Fomo things yet this had always been part of this kind of market which is really very unpredictable and being affected by news most of the time
even if theres none we are still surprisingly greeted by random ups and downs on a particular day thats why its hard to conclude that market becomes mature.

Seeing those glory days in Bitcoin on reaching that ATH might not be seen on early years to come but it will depend on market demand though but i do rather prefer
on a slow pace but having a stronger price foundation.

A. follow up to this is that, price is like this now maybe that is the actual range for the price of bitcoin. In 2017, we saw a kind of artificial move every month until it climax to December. So, I'm looking at the price as what could be the actual price now

What happened in 2017 still arguable whether the market rises due to normal demand activity in the market or manipulation from a single market whale and using usdt.
According to a Bloomberg report (https://www.bloomberg.com/news/articles/2019-11-04/lone-bitcoin-whale-likely-fueled-2017-price-surge-study-says?utm_source=twitter&utm_content=crypto&utm_medium=social&cmpid=socialflow-twitter-business&utm_campaign=socialflow-organic), two academics including Professor John Griffin from the University of Texas, and Amin Shams from the Ohio State University, jointly published a paper in 2018, which suggested that the 2017 Bitcoin surge was a result of market manipulation and not a natural market movement. source (https://www.coinspeaker.com/bitcoin-20k-2017-manipulation/)

The market still far far away to be claimed mature,  susceptible to manipulation of whales, probably take another 10-20 years to make stable market, where the coins spread widely among people.
However, what happened in 2017 more likely repeated in the next year or a year after the halving in 2021, reach a new ATH.

Um what?  The only time bitcoin was far less than than $100 was 2012 and before.  3 years ago was 2016 and it was no where near "far less than $100".  You have to get your facts straight before you try to refute someone and what they are talking about.

The beginning of the end was the sentiment in repeated parabolic cycles of the past, though in the last one I witnessed, was strange that long time holders (supposedly) had said that this time the end was starting.

I never figured out why these guys left. Why they thought the real end had started. After seeing themselves several times how the cycles go. Perhaps the 2017 really was the first time the developed world truly saw and heard about bitcoin and that was that.

@gabmen you’re right hype and Fomo played it’s part in the rally, but in a way I’m glad those people will not buy bitcoins again because they tend to dump bitcoins quickly which is not good for bitcoin prices. Also we don’t need to wait for whales to manipulate bitcoin prices, because once we near the halving event bitcoin prices shall shoot up and we will witness another monstrous bull rally.

https://hackernoon.com/how-crypto-market-behaves-its-a-damn-cycle-bffe47a01831

I still believe bitcoin can run again like in 2017. and now more and more companies and countries are accepting bitcoin so in my opinion bitcoin continues to grow and towards mass adoption. right now the price of bitcoin is declining but I don't think this is the end of bitcoin. the rise and fall of bitcoin prices is common. so I am not worried and with all the characteristics and advantages of bitcoin I am sure in the future the price of bitcoin will be more expensive.

2017 will be hard to forget, all coins have increased 10x and it is incredible, it is reasonable at the moment the price has experienced a decline, 2020 might look quite interesting

I hope the market has not matured yet if that would happen.

Of course, I still want to experience that bull run again to correct my past mistakes, I know some of us here who invested prior to the last bull run have made some mistakes too of not selling at the peak, we were too greedy that time and we always want to HOLD, which was a wrong idea and we have only realize after the long bear market or what we called a correction.

I did experience it and on the brink of selling all my coins at that moment.
But there is this instinct that tells me I should not. I didn't.
Could have been a lot of bitcoin now if I bought it back at the recent price but we just don't know what is going to happen.

It doesn't sadden me though, it gave me hope instead. There is always a chance for the value of bitcoin to grow more because we have already seen it.
Yes, it can happen.

Considering the amount of money required to keep the bitcoin volume this way (even if some of them are just back and forth) I am not surprised we are not even more volatile. I mean sure sometimes we move from $5k to $20k and another we move from $20k to $3k but do you realize how many days and even months we just stay the same? Like think about how long we have been around 7 thousand dollars right now?

When we were around 10 thousand, that took months, last year around the same time the 3.5 thousand dollars or so levels were for months until April. So long story short, with whats going on and how "volatile" we claim bitcoin to be, those volatile moves all happen in a week or so and then for months we are all stagnant, that is not really that bad if you consider stocks do the same but slower.

I wouldn't let my hopes get high though because that bull run in 2017 wouldn't happen in 2020. The bitcoin halving effect that you guys are looking for is not in 2020 it is going to happen in 2021. So i wouldn't expect too much from the market in 2020, but maybe we might see some price increase but not really that high enough to exceed the ATH of BTC.

People just don't get it, volatility means that price is going in both ways. And as you say, there wasn't enough money to hold that price for a longer period. In the end its just a spike, and every industry have that kind of spikes in the beginning, nothing new in crypto, especially nothing new in economy. But people are lazy to do some researching, to learn more, they just see the price and nothing else.
And one more thing, people tend to talk about drop from 19k to 3k in less than 2 years, its more interesting than talking about bitcoin rising from zero to where it is now. I say all the time, everything is a perspective! Some people see it as huge drop and losing money, others are taking advantage and buying with a discount.

2017 was a year when a lot of ICOs were having a lot of customers, it was as if people had found a gold mine. can you imagine investing in something that would give you a 10X return in a few days or months? That's what a lot of people thought when they invested in those ICOs and to invest in those ICOs a lot of people bought bitcoin. Bitcoin started to become very popular because of that, then it had the hard fork that resulted in BCH, a lot of people bought bitcoin to get free coins. with the hope that in December 2017 when they launched the Futures the price would be very high. These factors that I mentioned are the probable reasons why the price has increased so much in 2017

everything is possible in the bitcoin market. it is very possible for bitcoin to be able to reach the value of $ 20000 like 2017 but the current condition of the crypto market from two years ago is different. so I also don't expect too much about the rise of bitcoin. bitcoin can reach the price of $ 14,000 i'm already happy because i bought bitcoin at a price of $ 7000. I also have to be mentally prepared when in 2020 after halving bitcoin doesn't pump as high as we expect.

Although there's a risk that bitcoin will not go the same on what happen last 2 years ago but still we still have chances to gain since we all know halving will give a great effect on bitcoins and whether $14,000 or not still we are lucky since for sure we will gain even a low percentage if we bought today but hopefully we can reach again the $20000 or maybe it will surpass.

People only concentrate themselves on the aspects that they think will bring greater adoption in the future for bitcoin, but just as there is a lot of awareness about what bitcoin achieved back in the day there is also a great degree of awareness of what happened after 2017, the great crash that followed that historical bull run is a memory that anyone that was in the market back in those days will never forget and it is one of the biggest obstacles for the next bull run.

Make expectation is good actually, but keep aware for what can be happen is needed. Because until now, although i believe market will be good because halving, something is actually make me afraid, because bitcoin not hyped like in past when people just see about it and now a lot of people already know about bitcoin so maybe some of them who already know maybe already bought it and wait to sell their coins.

I might be in the minority, but I'm hoping we don't see another 2017 again, though I'm pretty sure we will eventually.  What happened in the lead up to December of that year was pure crypto insanity, and if it wasn't a full-fledged bubble, it was damn close.  And look at where bitcoin and the entire altcoin market are right now.  They're both still trying to recover from the madness that was 2017.  Bubbles aren't healthy, but they're like drugs.  They feel great but you know the high is going to end at some point and they're not good overall.

I'd still love it if bitcoin got back to $20k, but only if it got there s-l-o-w-l-y.  Slow and steady rather than in a hyperbolic manner that's characteristic of something that can't be sustained.

By that time the growth isn't believed to be a bubble, and people continued to invest more and more. This made the price of bitcoin grow gradually reaching $20k. This made the people continue to expect for such a growth, someday it'll be reached but that's not so near. Right now halving is the major talk among the bitcoiners. Till the past halving the growth expectancy was limited, but once after the 2017 rise expectation has grown much high. Everyone love to experience the $20k once again, because very few made use of the market pump while majority missed the profiting.

yes people continue questioning and doubting the future of bitcoin especially when it comes to questioning the price movement these poeple always in hurry making conclusions, they think it was a real bubble when the price skyrocket from $500 to $20000.
and then suddenly make a decision to sell the coin they have on a discounted price like we see now.

guess they will confused and even more restless after they realized they have sold it all but want to comeback to the game.

that moment people have no idea where they have to place the buy order position as the market starts moving.
this uncertainity must be known by anybody who involved in cryptocurrency market.
i see there is a lot of people thinking that bitcoin is actually a bubble , i don't give a fuck with them anyway lol.

That will happen repeatedly as most people see bitcoin as a trading object to obtain profit until the point bitcoin spread widely among people all over the world and fewer whales rule the market.
Anything that pumps significantly within a short period will plummet in a hard way like in 2017.

When you discuss only one side of the situation, when the price skyrocketed to $ 20,000 in 2016 and 2017, you forget the fact that many cryptocurrency users lost a lot of money due to the fact that they invested their money in Bitcoin at the wrong time.  Almost the majority of new investors in 2017 took loans and sold real estate in order to win the jackpot thanks to investments in bitcoin, but given the current prices, many users lost almost everything.  In addition, it can be safely assumed that when the price of Bitcoin rose to $ 13,000 in the summer of 2019, many sold their bitcoins only in order to return the money spent or pay their debts.  Based on the current situation, we will have to wait a long time until the cryptocurrency market becomes, will attract new investments and cryptocurrency prices will go up.

Bitcoin can give surprises it can go as high as $20,000 or more but I don't think it will happen after halving in 2020 considering the current market situation. Change is the constant thing in the world which means that everything changes and it applies in bitcoin history, as years pass the market situation changes as well that is why basing your prediction a few years back won't give much good knowing that two years ago and years after will be the same. Bitcoin is a very good investment, no questions but we also have to bear in mind that it is not always good, we must be mentally ready for whatever storm or change it will provide in the future.

For 2 years already of bear market if we still hold and survive until now, that simply means we are ready and we understand that holding is still the most effective method. We don't know what lies ahead but we believers are always positive to see some good recovery and we like to see it happening soon.

I think that many people who invested in 2017 either made a little profit or some  sold for break-even I don't think large amounts ended up losing money. Pull up a weekly chart of BTCUSD and you will see that the low of $3100 which was made in Dec 2018 was traded during Aug 2017 and many of the people who got involved with BTC were in the 2nd quarter of 2017. I think shortly after the rejected ETF it drew alot of attention and people basically got in anywhere between $1200-$3000.

Sure the price went to $20K however it was only above $10K for like 3 weeks before it topped out. So there is a good chance that too many people didn't buy at those prices unless they bought the pullbacks back in 2018.

So the people who weren't greedy and sold probably made a small profit or they just put their sell stop at break-even and got out when the markets broke $6000 back in November 2018 and stopped out many people out at break-even.

The people who lost alot were the ones who invested in altcoins, ICO scams or leveraged trading. However BTC seems like the most stable investment out of all of those.

Two years ago many people trusted bitcoin become most popular digital currency payment and will be best investment assets on the future, just take one month later bitcoin price down until today where from bitcoin above $16k and now bitcoin only half from last two years price with $7k, many investor loss much money because they have really believe bitcoin will have higher price later.

at that time I had 0.5 BTC from several coins that I got from the bounty, I was very grateful that at that time I knew about bitcoin and I immediately sold all the bitcoins that I had at that time. I am happy to be able to participate in enjoying that beautiful moment, I hope that in the near future the moment will repeat itself  ;D

That ATH of $19k was highly manipulated. The price went up because of the tether manipulation by Bitfinex. That wasn't the organic growth and a correction was more than expected. Price corrected throughout the 2018 and now it's recovering slowly and steadily with small correction here and there.
So, what happened?
Price went up ridiculously without any underlying reason and then corrected and now recovering organically.

Unfortunately 20k has become a psychological barrier and once bitcoin surpasses that level we are going to see massive hype and all kind of wild speculations will become part of this market again, I think the same as you I would prefer a slow and steady growth but bitcoin is still too young and assets like that have a tendency to be very volatile, and since I cannot avoid the volatility that will come when bitcoin surpasses 20k I might as well take advantage of it.

Wow that's a huge amount of money coming from bounties it's worthed investing your time and skills with such value of rewards, nowadays there's no longer project who can bring that kind of amount, most of the projects around are only for fooling people and scammed investors which would not pay any cents.

He was lucky by then and earned such a huge amount from the bounty.
And everything becomes possible when the 2017 bullish market will turn back but I really surprise to have it again.

---

We can't imagine how hypes play that time and the entire market is skyrocketing but the difficult part after the event is that we are also suffering big losses because scam and fraud came in. Now, thinking for another $20k is just necessary for me, only I ask is that the use of crypto will be realized as a currency. And that makes a way to increase the market demand for Bitcoin and the price will move as well.

The time is passing by, bitcoin price in that huge rate will surely not last long because of many struggles will come against bitcoin. even it have many believers and investors it won't take too long to hold that kind of huge price. even it is manipulated, everyone will take a chance to dump their huge amount of bitcoin to have a huge profit. that's bitcoin works and it is hard to take back 2017 price or it is possible in time will come that everyone is going to hype again.

Bitcoin wasn't $100 or under it three years ago. But yeah, it was cheap, and every time i see bitcoin over 1k, it's a win for me and it feels we are in bullish market related to that.

19000$ was ATH and ATH price cannot be maintained for a long period and it’s a blue moon that appears only once in years. Those who have missed the opportunity will have to wait for an indefinite period of time to see that blue moon. 19000$ was an overrated price that was backed by pumping by whales and FOMO by millennials.   

The pullback this time is way less then it felt after the peak in 2013 but its basically just another iteration of the same sentiment change.   People get carried away and over do it, too many people buy BTC and never use it which means we get top heavy.    THe market will wring the rag dry until all the people who never actually wanted to be part of BTC idea to break away from dollar are sellers, it ends settling or flatlining a bit and then we reappear with a more bullish tone.
  Nothing different time, its a question of perspective and experience gained from long term involvement with BTC helps alot I reckon.

Bitcoin is politically running where have popular and richest person in the world like with bitcoin he will give good opinion for investing with bitcoin and make price raise up, but other way when have people get a lot of reputation in bigger country in United of American like president Trump hate with bitcoin and said negative side from bitcoin will effect for bitcoin have lower price, we can keep trusted bitcoin always have higher or lower price at the future, just running with your moment when have to sell and buy bitcoin.

you got it mate,this is the problem if the people only looking for the bad things that happening in the market,but don't even bother to check the good things that happen in Bitcoin for the rest of 10 years.

but we cannot blame them because many of them has been here only when the HYPE happens in 2017 but not when bitcoin is just sitting in 3-4 digits .

In my point of view, Bitcoin is not yet over and I do believe that it is just getting started hence, we could see Bitcoin in a bull run just like what it had before or probably even more. Like what you have said and based on what we have observed upon our society, the world is gradually accepting the utilization of these cryptocurrencies especially Bitcoin. A lot of big business enterprise who have been acknowledged of these cryptocurrencies and by these circumstances, this could lead to massive adoption.

 ;D

A relatively modest yet accurate way to sum it all up

For all of those that acquired their coins when they were relatively cheap it may seem as if we are in a perpetual bull market since it does not matter what they do as long as they hold their coins they will always be in profits, but for the rest of the people they need to worry constantly about the price, just a few days ago people were worrying about the price of bitcoin going below 7000 and they wondered if the bears will finally succeed and make the price to go even lower and then a few days later bitcoin is close to break the 8000 level.

and that happens always after halving happened in the previous year, like 2012 and 2016. so when supply decreases demand will certainly increase, and it is very likely that there will be a new ATH in 2021.

Yeah, price of crypto is all about demand and supply so when demand rises and supply decrease than we see price increasing rapidly and in last two years bitcoin and crypto had high demand but because if huge purchasing supply was lower than demand but then people suddenly start selling to get profit that made supply ratio higher than demand so price went down.

What happened? Volatility, conditions on the market. Did you really think that the price will go only one way, up? That is not sustainable and sooner or later price must fall, the question is only how much.
When investing you always need to have volatility in your mind, counting on risk and possibility that you will suffer loss. When Bitcoin is involved don't always be too optimistic and once you see howard trend don't forget that sooner or later you will see downtrend also.

Bitcoin is crazy when you really trusted with higher price maybe you have been failed because bitcoin down whit lower price, last two year when bitcoin have been raise $19000 and whit short day later bitcoin have been down and many people looks frustrated until now because bitcoin can't back whit higher price.

Volatility would always gives us a chance to be profitable if we play with it, it's okay to invest for long term but the pump and dump could also happen because it's not new to the market and if this happens we should know what to do.

That's why the short term are profitable because there's a lot of moments that we see a pump and dump in the past year and hopefully this year would be more different and hope we will see more bullish trend this year.

Started at $7k this year is not bad compared to last year but let's see what price we will end up this year, hopefully we can double that the least.

As ridiculous as it may sound many people do not understand that the market cannot go up permanently, and they think this because they do not really understand how the market works, if someone is selling anything for a price in order for the price of that asset to go up then someone else needs to be willing to buy it for a higher price, but at some point the price of that asset is going to be too high for most people and they are not going to buy and that is when we see a crash and that is what happened the bitcoin years ago.

Market do involves buyers and sellers on where most newbies do missed out on how a true market works.
I cant deny that i do able to feel out the same when im just still starting here on this market where i do have that
kind of perception where market do only goes up and never come down.Later on, those hopes were crashed same
goes to my investment which made me realized that things arent working on what you anticipated.Well, you can
 really learn from your mistakes and now you should try up your best to go along with the volatility and utilize
these movements for you to make money.

Yes I agree that the market and the whole community have matured, but I do not agree on your opinion that what happened in 2017 will not happen again, so where all the predictions will soon become 6 digit in value, so is the $20 k level is the last stop of Bitcoin on its price, Bitcoin price is dynamic it will have another all time high the community believe on that.

I think is the way why I like investing with bitcoin and altcoin because price can raise up and down drastically, we know how much bitcoin price last two year and raise above $16k although now down lower $8000, I think have way to make profit with bitcoin by re investing and hold bitcoin for long term to get profit back and see bitcoin on higher price.

A lot of new people entered the Bitcoin/cryptocurrency world, it kinda became mainstream, everyone was talking about it, the news, people around us.
It was to hyped up and it became a bubble but this is not the first time it happened, same thing happened when the price went over 1000$ the first time, a big crash with a few years of going down and up.

Then suddenly in 2017 the price went to 20000$ and the same thing happened again, and I think we are going to see the same thing again soon.
Where the price will go insanely high to probably 100000$ and then we are gonna crash again for a few years but still we reached a new lower price point which is going to be higher then the last ultimate high($20000)

This was already explained a lot that the price is volatile and as Bitcoin gets older we are going to see the market stabilize more and more.

Its mostly a repeat or cycle and iteration of a continued theme which is volatile growth.   BTC was national news in 2013, long discussion pieces on this new technology then it had a lull etc.   Mostly as a source we have unstable FIAT standards to sell or advertise the benefits of being independent of just one ecosystem especially where that currency is isolated from actual real trade.
   The main take away is that though population varies, does it generally increase and I believe it does.   Its important that utility continues to improve to justify the attention and reliance people place upon on it, or we may get a competitor to the crown which in open capitalism is always possible.

Thats probably true, though the dips are harsh we seem to maintain above the old highs though it may be years back & a harsh pull back.   We do advance forward nominally and so it continues to justify a long term bullish stance.   What I would really like to do is better time my involvement and avoid being negative while we accumulate in price but also not be caught up in believing price always rises, it wont it falls harshly when and if market demands it.

Then what's the problem, you sold at peak. You're fortunate, you have the chance to sell at peak, and right now you've had the opportunity to buy again at low prices. Are you sad about the price right now? In fact, the price is doubled from what we have this year in January. When you want to be at max profit, you can't change the price because you're tired of waiting. You had to recognise that we have more bear market time, and that's why patience is one of the main if you're going to succeed here.

I'm not especially optimistic on BTC until people find a reason to hold or gain even while price is falling.   A super basic example would be interest gained by holding a deposit somewhere, I guess some exchanges do allow people to lend out their BTC at some rate for shorting purposes or lend capital to a business.  The more there is of that, the greater baseline we have to the BTC price.
   I personally go long and short on BTC at the same time, on different accounts and with various cost or benefit.   Ideally that's possible while price falls and not be so affected by price variations.

But this is not a good long-term solution. No one should leave most of their coins on an exchange for a shitty rate, it would make more sense to invest in some PoS or altcoin scheme with blockchain-provable rewards. Going long and short simultaneously is also a very weird idea, it just causes more friction with the exchange fees.

I would recommend you to identify a trade and stick with it. Put even some stop loses if you want to be on the safe side.

It's the market cycle like a topic I started a few days ago.  Bitcoin went through a market cycle that had a peak at the end of 2017 and then a crash.  We are probably just starting a new market cycle.

It really depends on what you mean when you say that what happened in 2017 is not going to happen again, if you mean the bull market then it is obvious that we are going to see several bull markets in the future of bitcoin, but during 2017 bitcoin grew 20 times its price in a single year and quite honestly I really do not think that we are going to see something like that ever again from bitcoin, we may see a growth of 5 or even 10 times in a single year but were never going to see 20 times again.

Of course which we wont see those multipliers yet we know that price of btc is becoming more expensive as it grows.Unlike in the past where its still a
few hundred dollars where it can really shoot up possibly in 20x but when its already price between thousands then thinking of 20-100x is already an impossible thing to happen.We are already in full adoption if we do able to reach up that case.About on topic on what happened to btc price?
Then the bubble popped and majority of holders or investors do sell out when btc price is already on the peak.Lots made some serious profits,equivalent also to those people who lose too much on the other side.

yes and will the halving cycle be repeated again as before? the cycle when halving happens always becomes hype and 2017 becomes a great peak. so far I see we are still in the same cycle as before and expect it will go higher than before.

keep following the price flow, I'm sure $ 19,000 will be reached in the future, if you see the price of BSV which is a family of Bitcoin experiencing a new ATH, so for Bitcoin can happen

Dec 17, 2017 will be remembered in the history of mankind, as bitcoin touched its ATH on that day. A value which no trading commodity has achieved in just a short span of 10 years. It was FOMO and FUD that pushed many to buy bitcoin and that took bitcoin beyond moon in Dec 2017 and then back to earth in Dec 2018. Nothing can happen but I don’t think we will see another bitcoin ATH very soon.

because 2 years ago we have also a Halving from bitcoin Mining so basically this year will do the same or even much higher,remember the past halving brings Hype each time for the bitcoin price and may happen again this year or much even higher?

actually no one knows but the important thing is there is something we are looking at not like from 2018 to 2019 when we are very hard to get profit specially those in Day trading.

What makes crypto healthy is because of its price volatility, the pump and dump is not quite extraordinary and it has already become so normal, so it doesn't loss the confidence of the investors.

when btc pump, it will attract people to invest more, when it dump, it will make them panic but the good thing is they don't leave it that's why bitcoin still recovers, so a bull run will certainly come again but in the right time.

I think that it'll still be a sizable bull market to be seen come this upcoming halving.

However, as you said, it is very unlikely that the magnitude will be substantial, or as substantial compared to what we saw in the BTC markets in 2017. There is significantly more market capitalization and more funds in the market, with sentiment more rational compared to 2017 as people now have seen the extent of the bear market.

At the end of the day though, once $10k resistance is cleared, expect continued rallies. That's not to say there won't necessarily be corrections along the way though.

Exactly. What happened is simply the market cycle.

That's what i think about the new market cycle and it is happening now. I doubt that there would be a major drop after it hits the ATH or more than its high price and currently the price is peaking and i think more whales are joining in the uptrend.

We really don't know when does the market will keep on going up, but i think it we just to make sure that we are always ready on what will happen on the market.

For now maybe we can see a little dump and higher pumps since we all know people are been hype by the halving news and provably those whales now starting to accumulate some affordable BTC since they also now that the pump will continue to happen. And we better be ready for consequences since everything goes high there's a drop and we should be prefer for that.

If this is a market cycle then cryptocurrencies doesn't have value anymore. Soon it'll loss its importance, because till date majority of the users believe bitcoin to be entirely different from stocks, forex and other forms of investment where the market change can be predicted easily.

I think times like that are not good. (might be good for those who are looking for profit). But the trend of bubbles like that has a bad effect. Like in my country, due to the bubble trend, the government provides rules and limits the use of bitcoin. Even shop owners who accept bitcoin as payment will be given sanctions by applicable laws.

 Hyping people up about a future 20k has never worked out for bitcoin or in general anything financial at all. When you tell people "bitcoin was 20k once and it can be again!" and they believe you and end up buying bitcoin for a premise that bitcoin will be 20k and when it doesn't, they just sell and talk about how they were "scammed" because the thing they invested for a future profit didn't went up that much (or even went down). When we talk about bitcoin and if you want to emphasize on the 20k price you should instead say "bitcoin was once 20k and could be again but it also was 3k after that so it could be 3k too, its a volatile commodity that has big rewards with big risks" which would make people realize the risks before they get in at least.

On one hand we are bitcoin is going through a positive phase wherein the value has pumped up but on the other hand we are facing the risk of crypto industry moving towards centralization wherein KYCs are asked for no reason and if this continues then soon people will lose interest because basic concept of crypto was anonymity.

It traced back. It lost some investors, some sold like there will be no tomorrow and some just didn't understood that the market will trace back. It was bound to happen and when the next all time high happens it might be more sensible and hopefully won't come down this fast.

Move on and go ahead is most important with investing and trading in bitcoin and altcoin, if you still remember with your assets and bitcoin ever raise with higher price you can't move on to make trading and investing any more, I still remember when I received much coin from ICO investment have higher price but keep holding until price down but now I forget everything with my lost in bitcoin and altcoin.

Those who sold at the peak was very lucky I see a lot of people didn't have that chance so they have to until bitcoin reach the 19,000 USD again, there is news reported that 10M Bitcoins Haven’t moved in more than a year, I'm sure that those who are the people bought at the peak and have to hold in order to recover their losses. I personally didn't sell at that time still holding my coins for a long term.

Just keep the faith, Bitcoins technology and intent is the real factor driving up prices in the coming years. Wherever I expect everything here to make money, but it will take time to see a significant growth again. The recent all-time high was a marketing product and not a real growth, but Bitcoin's fundamental remains forever and I'm not going to question its potential

Good point, it's still tough to predict or to assumed the potentials but in the long term run believing will bring a huge benefits. The last time high
are still expected to show back and to try much higher peak once the full adoptions take place.
There's always possibilities and it's up to anyone who understand and willing to take the risk investing and holding for long term process.

Many years ago people talked about the dot com bubble and how it was one of the biggest bubble and crashes in history and now if you take a look at the price of some of the stocks that went through it like Google you will see how small it is compared to its current price and most likely something similar it is going to happen to bitcoin, in a few years or decades people are going to look at the bull market of 2017 and will not understand how we could be so worried for bitcoin when at that time bitcoin will be worth several hundreds of thousands of dollars.