Bitcoin Forum

Think Bitcoin has lost its bullish momentum? It feels like now continuing to hold BTC is pointless ...

Thank you for this. Based on your judgement I just purchased a piece of it.   ;)

You can try to use DCA for bitcoin investment. People that buy bitcoin now will reap the profit but it could take some months after the next halving for a significant bull run.

This period is just like 2018 when the whole year was not favoring bitcoin and cryptocurrencies in general, so this bear market has never been a surprise for people that know about bitcoin price history.

Bitcoin has dropped significantly, holding some amount of bitcoin now will be profitable in long term.

You should not expect the price of bitcoin to always increase, a bear market is an hope for people that have not invested before to be able to invest at low price.

What you mean? haven't you seen the market since the beginning of this year? And yeah I will say that we are no longer in the bullish market, it was November last year when we have our all time high.

But it doesn't mean that holding BTC is pointless, I mean this is the perfect time for accumulation. You should buy them because they are quite cheap at 70% and then hold. And then wait till the next bull run maybe in 2024-25 and see how far BTC goes and how much you are going to profit by investing right now.

If you don't trust Bitcoin enough to believe its price will explode again, be my guest and sell. Nobody forces you hold.
There are many very happy to buy. For some now it's crypto winter, for other it's summer sales.

However, I have a hunch that you made this post to convince others sell, so they basically sell to you or, more likely, your employer.

I don't know... I've been accumulating BTC since 2016 but this is the first time I've noticed this loss of momentum (loss of MA200 and breakout of the previous ATH), it never happened before like this. I have a feeling that BTC will not drive the market for much longer, but that's just my opinion. Personally I will start to accumulate more ETH than BTC in the future

Your first cycle?

The emotions you are feeling are normal. Bitcoin cycles will bring out your fear, greed, dispair, etc.
Hang on and HODL! HODLing isn't as easy as it seems...

You're comparing the top of a bull market with a low of a bear market. This is actually not too bad. If the current price level will hold, if the drop to $17.5k was just a fluctuation and not a bearish trend, then it means that the old pattern largely holds, and the next bull market will bring new highs, likely over $100,000. So, buying BTC now and getting 400% profit in a few years is a pretty decent deal.

Before you can express such feeling of cryptocurrency and especially bitcoin values. You have to flash back from when cryptocurrency information come to air especially bitcoin. The value of bitcoin in the year 2017 and 2018 is not the same value of same this time. Once we are moving and Bitcoin get another way of increasing for it value. But right now the downfall of Bitcoin does not mean it has losed all the value in cryptocurrency Kingdom

This means you have been in the market for 6 years. you are someone with enough experience with the market and you are starting to lose faith in bitcoin. If you've been accumulating bitcoins since 2016, I think you've made a profit, so if you don't believe bitcoins will explode in the future, you can sell them now and leave the market.

It seems a bit strange to me to see you say that you lose faith in bitcoin but trust in eth. I myself still choose to keep btc over eth, what will happen to eth if btc doesn't grow?.

Just add some trust to it and you will admire holding Bitcoin.
This was I am before, I didn't trust Bitcoin but every time Bitcoin reached the ATH price, I always regret and blame myself for not investing while at the dipped price.  But now, I've learned, that holding while waiting for another ATH is worth it, and when a bull trend comes it will surely give profit or as a reward.

I tend to agree with the advice above, buying Bitcoin in a DCA way will help you to determine your loss. 
Try to look out the market price chart history, it will always end up having an All-time high Bitcoin price even though there's a long period of a bear market.

I would agree on that, but bitcoin also evolved its narrative right?

I mean government are investing, institutional money is slowing. My point is that we are still very young and this numbers are not etch in stone. Sooner or later the pattern is going to break. And it just so happen that this is the first time that we have reach the previous all time high. Even having 9 successive weeks in red candle as well is a first this year.

It's your call if you want to go with Ethereum rather than Bitcoin. Best of luck in your decision.

How Hypocrite sharing of years?  you mentioned 2017 as an ATH year but did not bother putting 2021? instead you jumped to 2022? why not share the date of 2018 before 2022?

if holding Bitcoin is pointless at this moment then why those Holders from the 2018 did not felt the same way?

if we are going to  hold bitcoin then you must understand its way of movement and that is what we have now, this is why we are called HODLERs and that is not for nothing .

look at the world market, prices of all things are rising at a frightening level, russians have been sanctioned, people are starving, think: if you were in a war or starving would you think about buying bitcoin or would you want fiat immediately for buy food and not go hungry? this is what is happening, people are not going to be spending a lot of money investing in bitcoin and various high risk assets in a time of crisis, but also look at the good side which is the fact that the price is low, you buy now and you will have 3X to 4X profit guaranteed in the next 2 to 3 years


if you buy ETH now anyway 2 to 3 years from now you would have a profit of 2X to 3X so this is the same thing as investing in bitcoin


he knows about bitcoin, in my opinion he likes ETH just looking for an argument to leave bitcoin and keep ETH

I have my doubts that it will explode, if by explode we mean that it will have the returns it had in the first two cycles. The ATH of this cycle was only 3.5 and it seems very unlikely that we will beat it.

It still seems to me to be an excellent investment for the long term due to its properties, but I would not be surprised if the returns of the next 2 cycles are 2X or 3X at most the ATH of the previous cycle.

if you says Holding meaning you already has ? then what is the point of selling them ? and if you are talking about accumulating then why doubt when the price is is really low and you can easily buy and keep for another years?

and also Bitcoin did not lost its Bullish instead this is only resting and can run back any time in the future though not this soon.

The longer we stay below the $23,000 price level, the more difficult it will be to return to the higher levels, but it is wise to expect that, at the present time, with all the world crises, maintaining these levels is a very positive thing.
Therefore, if by bullish momentum you mean the successive rises that have been taking place in the last two years, then the matter is not correct, and if you mean no declines, then it is likely that it will be difficult to drop below the $17,000 levels.

From the current price, getting back to last ATH and some more, no matter it's "only" +50% (to get over the much expected 100k), is imho in the books for "explode"  ;)
Actually getting even near to last ATH would already be wonderful, since everything bigger that what banks, gold or stocks offer is already very good.

Hey, we're all entitled to our feelings, OP. And I always say, if no one's selling, then no one's able to buy, and then we don't have a market, and then we're all in trouble.

Exercise the freedom that's yours. Sell your BTC if that's how you feel, buy more if you want to. The market thanks you for your participation.

discouragement should not be this time except you are new in this market. Bitcoin $20000 in December 14- 2017 was the all time high at that time but after then it went down to $3,750 in 2018! It also hit $70000 in 2021 and $20000 has been predicted to be the bottom. I think we are more better now than 2018.

First of I think the highest price of bitcoin in the year 2017 is only 18 to 19k, not 20k while on this year, we are not sure yet if we will end this year with a price of 20k or not because there are still some months left and there's always a chance for the BTC price to change. In the event the price didn't recovers a lot, then what can we do?

You can always expect that each new year, BTC will also reach a new ATH. That's wrong as that's not how this market works but there are two cycles here which needs to be followed. The bear and bulls can occur at a random time I believe. That is why. BTC may lost its momentum for a while but it surely can come back much stronger next time so no, hodling and buying BTC is not pointless.

Why it’s pointless? What’s your basis for this one?
Bullish trend is not forever, in order to reach a healthy peak we should experience a down trend since we cannot always pump. Bitcoin is still worth it, but if you don’t see that then I think something is wrong with your analysis and you have to review that again, or else you might lose some opportunities with Bitcoin.

Many people are tired of facing the bear market that happened this year, that's why they think Bitcoin will never recover and think holding
Bitcoin is pointless. I'm sure the OP said that because he doesn't understand how Bitcoin works, but this is how Bitcoin moves, we can't expect
Bitcoin to be bullish continuously. Bitcoin will indeed experience a bearish trend and we must be patient with it, because only a patient person
can make a profit from Bitcoin.

If we learn from the bear market in 2018, which I think is worse than what happened this year. Even I still remember a lot of people who think
Bitcoin will die when the bear market in 2018. The reality is people who believe in the future of Bitcoin and collect Bitcoin in 2018, then hold Bitcoin
until 2021, they can make big profits. We should be able to learn from the history of Bitcoin movement, never doubt the future of Bitcoin.
Holding Bitcoin at least until 2025, I believe we can make huge profits and no longer consider Bitcoin holding pointless.

So what have you done with them so far? Don't make such silly comparisons. The opportunities for movement they offer are numerous, unfortunately for those who are not knowledgeable enough to join the journey it has taken. At this point, perhaps many people are skeptical about it in terms of growth or decline. Of course, from a long-term perspective, I believe in the value they bring to hoarding assets. And don't look at price that way either, but look at the start of the present and the future opportunity it creates.

I remember back when we were at $60K. I told people to buy at 200 WMA which was like $25K. And people called me crazy.

Now it’s the complete opposite. When it’s a good time to buy people are saying Bitcoin is dead or that they will buy it at $10000 or something like $4000 instead.

Huge sentiment shift.

If you're not happy then you can quit and find somthing that might be profitable for you. Bitcoin is a crypto and an investment opportunity to those who wants to take advantage the volatility but not everyone can understand how it works. So if you feel its not what you expected it to be then you're free to do what you think is right for you.

But remember, 5 years ago the ath of Bitcoin is $20k, after that the ride didnt turned out smooth but the price still managed to climb up. Thus if you're one of those investors who take advantage the price increase, you'll not be dissapointed as what you are now. You just need to be patient and be optimistic. But its not surprising since weak investors tend to sell in times of bearish season because of FUD.

We can't remember what happen with last several year when bitcoin still going dump, just check last years when bitcoin reaching all time high above $65,000 and right now drop drastically almost 50% down. I think Bitcoin is worth for investing assets but need to be patient without entry before checking with bitcoin have reach higher price or moment for bitcoin going dump. Every one will not disappointed with bitcoin if know right time have to buy and sell bitcoin, not to be most loyal keep holding bitcoin when get time for selling and price reaching up, but you need make good controlling when have to sell and buy bitcoin before losing chance.

In 2017 for me it's part of the foundation of the building and for 2022 the price is $20k as the ground floor for the next step up. 2017 some people don't really understand bitcoin but over time until now bitcoin has been accepted even as a transaction tool in some countries, it's clear that growth will continue and we are now heading to the next better ladder. So I think buying more is a good option for the future.

Perhaps they don't understand why we need to buy at certain points when our TA says so. And then you proved your pint months ago, so it's theirs lost.


I guess that the beauty of crypto investment, people are very irrational, same as those who buy at the top of 2017 and 2021 bull run. And then they bitch around saying that bitcoin is dead.

And after 6 years, you have this conclusion? I think you have completely misunderstood some things and think that Bitcoin is a money machine from which you can withdraw more and more money as time goes on. If you have already started making comparisons, you could also put 2015 as relevant with a price of $200, which compared to today is only 120 times more or 60 times more compared to 2016. Bitcoin has become part of the market, and if you haven't noticed, the situation has not been great lately - all of this had to be reflected in the price of Bitcoin.

That altcoin you mention is planning to replace POW with POS this year, and that is not something that can have a positive impact on the price (at least not in the long term).

Maybe something like this will be useful if you tell people who don't like bitcoin that they can give more derogatory alibis and they still have material for distrusting bitcoin :D
But here I think you will only be considered as a joke if you say something like this because this is indeed one of the things that can be considered stupid (sorry to say this).
But I like the opinion of @a1 Hashrate LLC2022 you could say this to create panic for some newbies because you are ready to buy, Nobody knows about it lol.

This is a very superficial analysis, if the price had remained static or close to it for so long then you may have a point, but that was not the case, the price went as low as 3k and as high as 69k during that time, the volatility was extreme and that volatility is what gives you the chance of making a lot of money as a trader by timing the market or as an investor by buying the dip or using the dollar cost averaging strategy during that period of time.

Bitcoin stayed above $20,000 when the month of July closed, I'm very happy and positive about that, and for the month of August I am still bullish.
Resistance is $30,000 and support is still $20,000.
This is just showing how the peak of 2017 is a strong support right now.

Your perception is wrong in this case, the momentum of a declining coin is almost inseparable in the market, in fact the coin's journey will be faced with two problems, namely correction and increase, if your assumption of holding bitcoin is useless, many people will leave crypto, bitcoin itself is the source of many of the coins that exist today, even if you can take advantage of short trades for bitcoin, while at this time can also make small profits, try to think big for the impossible.

You just urged me to buy more. I appreciate the reverse psychology of your statement.  :D
There's a bit wrong on how you look at the charts. You compared the ATH of 2017 at the bottom of 2022.
It should be December 2017 - $20k vs November 2021 - 64k.
If we want to compare what happened after 9 months of the ATH then here is the numbers.
September 2018 - $6k vs August 2022 - 23k. That should correct it. See how far the difference is if we are using that kind of comparison?

Apart from the OP comparison not being correct, she claims Bitcoin has lost it's bullish and there's no point in holding which makes me believe she didn't understand the 4 years cycle of the Bitcoin market or she's just after the bullish market.

Most of the members on this forum strongly believe in the future of Bitcoin and would never think holding Bitcoin is pointless. Even for people
who have known Bitcoin since 2017, seeing the current bear market is increasingly motivated to collect as much Bitcoin as possible.
Because the history of Bitcoin movement has proven that Bitcoin prices always recover, and a very profitable thing if we can hold Bitcoin
in the long term.

So if someone says Bitcoin won't be bullish anymore and holding Bitcoin is a waste of time, of course it's a big joke in my opinion. I understand
a lot of people are tired and panicked by the bear market that hasn't ended this year yet. Even though it is natural that throughout this year
there will be a bear market, especially in 2021 there has been a bullish trend, so now is the time for correction. So we have to be patient holding
Bitcoin, never give up seeing the price of Bitcoin that has not recovered until now, because it is like the crypto world works, we can not expect
profit instantly. Sometimes it takes a long time to wait for Bitcoin to recover.

Different people have different opinions.
And yes different people also have different mindset.
A person like me who has been in this crypto field for more than 8 years, know the true value of Bitcoins.
Believe me I have seen couple of bear markets and also seen the all time high price of Bitcoins.
So it’s totally worth to hold the Bitcoins. These bear markets are common, often newbies like you will fear to hold their coins.
Nevertheless let’s hope for the best and respect each other’s ideologies.

Feel free to say that holding BTC is pointless because we are free to think that way. But if people still intend to hold on to their BTC, you can't force what you say on them. BTC has not lost its bullish momentum and will again in the days to come so those who are still holding their BTC today and even still buying every BTC in the market will earn decent profits in the future. Who knows if the price of BTC will increase again this year or next year but it will happen again, considering we have seen what has happened with BTC so far. I still believe BTC will rise again.

I think everyone will have an analysis of what they will do, so there are those who still want to stick with what has been done not to sell it, maybe because they have no other alternative and still believe that the time will come for bullish.
but there are also minds like you pal, who make sales, but I agree that not to sell them all because it's too risky to get the best price again when you buy it.
there is always a belief that bitcoin will repeat itself and will achieve its glory even if it may take too long.

if you look at the chart of Bitcoin in 2018, then you will know how much Bitcoin will fall this time,
I tried to measure it, from 2017 ATH Bitcoin fell -84% in the 2018-2019 bear market,
 and in 2021 Bitcoin ATH was at $66k and so far it has fallen -74% from ATH,
of course this is a sign that the bear market is not over, and maybe Bitcoin's last drop is at $12k

Based on the historical price of the Bitcoin market during the bearish market.  Bitcoin always downtrends 80%-90% of its ATH price and this is what I used to judge the bottom price of the current bear market. Besides, according to the record, the last bottom price always happens in Q4 and this is the reason why I believe people prepare some capital for this moment because it always started fast before it maintains a certain price level.

pointless? what do you mean?
you should sell all your bitcoins and get out of the market asap, because if you keep holding I believe you will incur additional losses
you cannot make a profit investing without knowledge and belief in bitcoin

you want a market that only goes up and doesn't go down, you don't want to do anything and still have money, bitcoin isn't like that and it's not for you.

Although the price of bitcoin has fallen very deep from last year's ATH level, I don't think that bitcoin has lost its bullish momentum. From the first, negative sentiments about bitcoin have often occurred, causing the price of bitcoin to plummet. But the price is always going up even the bitcoin price is currently at $23k a few months ago it fell to the $18k-$17k area. Better to hold bitcoins for now and don't panic. I'm sure we'll see the market recover in the near future and bitcoin will be bullish again.

It did really lost its bullish momentum because bears have entered and currently we are still at it. There is a slight increase but too early to feel bullish as bull traps are still around the corner. It's possible for bitcoin to recover but I think it's wrong to say that it always go up because if it is then we shouldn't be in this low.

We have experienced a long time where the price is stable or stagnant and then it also drops. For those who bought at a much higher price then they should hodl their btc's but for those who bought when btc fell off to under 20k then its fine if they can sell some. Other than selling and hodling, buying should also not be forgotten.

Until now it can still be said that the trend every 4 years is repeated, the price of dropping more than 60% since ATH and in 2018 also drop the price of more than 60%, namely 7 months since ATH in December, but if we focus on profit then the best thing is Be patient and don't panic.

correct it's all about the profits that we can get not the situation itself aftee making ATH. infact we must be thankful that now we have another chance to buy low and soon surely we can make a good return.. Just take advantage the situation instead of complaining why this always happen after all, because indeed we such scenario we cannot make profits again and again since from the beginning.

That chance will go away soon if we do not react quicker. I mean it's obvious that people will approach this thing like it's one of the most important parts of bitcoin world but the reality is that ATH is not the important part, it's the least important part because we all believe that it will happen again.

What we should care about is the part where we know that it will go down as well and if we catch up and buy some more there then we could profit the most. People who are afraid of the situation then it's going to be a trouble and that's why I do not think that we shouldn't really consider it as a trouble and we should see it as a beneficial thing to us.

Bitcoin 2022 hits low at $17k, how? I think $17k is indeed a bottom,
because this month there are a lot of altcoins that recover up to 100% more,
of course this can be a good signal that hopefully $17k is indeed the bottom of the bitcoin price, but I don't know,
if bitcoin can survive above $24k then this good, if not then bears are still dominating

I do agree that most of the drop was caused by three things that regular retail investors didn't intended to. First of all, it was manipulation, because there were a lot of hedge funds and billionaires like Elon who manipulated the market along with nations like China (people may have forgotten but China banned bitcoin again for a dozenth time when fall started).

Secondly it was speculation, people who are afraid of bitcoin going down who ended up selling and screaming fire, if they didn't, it wouldn't have gone down like this but since they did, they turned out to be right thanks to themselves. Last but not least, liquidation of all the long future bets, that turned bitcoin into USDT to pay for it. None because of "market decided to sell" type of reason to be fair.

Well probably we have hit the bottom at $17k and now been trading above $20k for weeks now after that last lower low. I'm not sure what you mean by altcoins recovering to 100%, if that is the case then it could have been a low marketcap coins, pump and dump scheme and pure manipulation and cannot be sustain in the long run.

We have reach above $24k if I'm not mistaken, then some minor dips, and yet there is no big one. Meaning that investors are now willing to at least gamble some money on the market in order to gain and profit either short or long term.

If you are here and invested in Bitcoin last 2018-2019, certainly you will appreciate and tell that holding become the last option.
Because what we have today is not the worst-case scenario happening in crypto, the market is still healthy (just for me). But the reason why we have to hold and have to wait is that the market couldn't recover instantly, unlike what you think.

Perhaps, you can't also think that we are always in the bullish season, sometimes we got to fall...that is the meaning of volatility (up and down).

The OP is simply being irrational, if the price of bitcoin had not moved at all during that time then he may have a point when he argues that holding bitcoin has become pointless, but the only thing that you need to do to know that he is completely mistaken is to open a chart and see what happened during those years.

And you'll see that there was intense activity and the price went up and down at an amazing rate during that period of time, so anyone that during that time decided to use a dollar cost averaging strategy, bought before that time and held their coins or simply bought the dip whenever they had cash on their hands made money during that time.