Bitcoin has now gone 173 days without a new high.

[DamCryp]

"Bitcoin has now gone 173 days without a new high.  Longest streak ever was 1,176 days (from Dec 2013 to Feb 2017)." So I came across this fact on twitter, and checked obviously (always DYOR haha) so what do guys think this says about BTCs current position, or what it does for the much anticipated bull run. We know that Mt. Gox "helped" make that previous streak a reality, and current conditions are not even similar, there is much more awareness and players. But do you think the the overhype that took it to 20k and its followed drop for the past 6 moths (which caused major disillusions) , will make it more difficult for BTC to reach new highs?

 

[First77]

GAME OVER   

[BitcoinNewbie15]

173 days? That's nothing. It took 1000+ days for Bitcoin to return to its all time high that it hit all the way back in November 2013 ($1100+). It could take just as long for all we know, but 173 days is nothing to worry about. It is different this time around due to the increase in interest, but I don't think it will make it more difficult for BTC to reach new heights.

[audaciousbeing]

"Bitcoin has now gone 173 days without a new high.  Longest streak ever was 1,176 days (from Dec 2013 to Feb 2017)." So I came across this fact on twitter, and checked obviously (always DYOR haha) so what do guys think this says about BTCs current position, or what it does for the much anticipated bull run. We know that Mt. Gox "helped" make that previous streak a reality, and current conditions are not even similar, there is much more awareness and players. But do you think the the overhype that took it to 20k and its followed drop for the past 6 moths (which caused major disillusions) , will make it more difficult for BTC to reach new highs?

 

If we are making comparisons, don't you think its rather unfair to compare movement in 173 days with movement in 1,176 days without bringing in other factors that could have affected price of bitcoin to swing both sides. For me, if you restrict the previous 1,176 days to 173 then compare with what we have currently, you will agree that price is not doing badly at all and the all time high that we witnessed towards the end of last year opened everyone eyes to how far can price go without any basis and we are yet to recover from but the earlier the better as that is when we will start seeing potentials in the current situation.

[Pursuer]

(always DYOR haha)

doing your own research also needs experience. you need to know what to search and what to look for!

for instance in this case what you should have done was to search about ALL the other times we had a bear market after a huge ATH. and there are at least 5 or 6 other times other than the Mt Gox 2013 ATH. but unfortunately people don't  care about that, they just stick to the last time and analyze everything based on that!
for instance there was much shorter bear markets (2-3 months) in the past.

[Herbert2020]

there is nothing significant about this in my opinion. the trend is the important part.
our current All Time High is sitting at $20,000  and we may not see a new "high" for another year but we can see a bull trend of a slower but a much solid rise  from $7k towards that ATH and the number of days with a new high can grow a lot more than this. but would anybody mind it? no. a solid rise is more important than setting a new high every couple of months.

[davis196]

The December 2013 BTC price ATH is no longer an ATH.All the older all time hights are no longer ATHs.
The only ATH of btc price we should talk about is the December 2017 price.That  1,176 days streak isn`t important at all.People are analysing the btc price movement based on historical price movements,which is wrong.The new btc ATH might happen after 20 days,or it might happen after 2000 days.Who knows? 

[Wind_FURY]

OP, then what are you waiting for? Find a job, a second job, any job and accumulate more Bitcoins while the price is under $10,000! This is an opportunity of a life time, do not waste it.

[Idrisu]

That means bitcoin is getting stabilize and it can be relay on to be used by business. Bitcoin is going to get upwards movement very soon though we need more stability than pumping if bitcoin will or should be used as money. We should be more optimistic about this new discovery.

[St4yInTh3D4rk]

If the price is low for too long then you have more time to invest on but surely the price will reach new high sooner or later but definitely it will.Still the price of bitcoin is decent and it is waiting for to break the resistance at $9700 maybe it will happen at the second half of this year so we may see the new ATH at the end of this year.

[oegarod]

173 days? That's nothing. It took 1000+ days for Bitcoin to return to its all time high that it hit all the way back in November 2013 ($1100+). It could take just as long for all we know, but 173 days is nothing to worry about. It is different this time around due to the increase in interest, but I don't think it will make it more difficult for BTC to reach new heights.

It took 1000+ days when it had a very low circulation compared to the present. By those days it was in its early days of into evolution and truly requires time to gain potential. Now the scenario is different, it has the potential and due to some sort of manipulation from large scale investors the price isn't growing high.

[Tankdestroyer]

will make it more difficult for BTC to reach new highs?

I think bitcoin being overbought for the past 6 months would not make it more difficult for it to reach new all time high, but i'd say we might see lesser action for the next coming weeks and might get stable to the current price range for a while(especially now that institutional money has started coming into crypto space). IMO, bitcoin atm is on the accumulation stage, getting ready for the next bullish run.

[KrishaBitcoin]

"Bitcoin has now gone 173 days without a new high.  Longest streak ever was 1,176 days (from Dec 2013 to Feb 2017)." So I came across this fact on twitter, and checked obviously (always DYOR haha) so what do guys think this says about BTCs current position, or what it does for the much anticipated bull run. We know that Mt. Gox "helped" make that previous streak a reality, and current conditions are not even similar, there is much more awareness and players. But do you think the the overhype that took it to 20k and its followed drop for the past 6 moths (which caused major disillusions) , will make it more difficult for BTC to reach new highs?

 

At least Bitcoin price is healthy at $7,000. As i remembered last year we are waiting for a very long time for the Bitcoin price to reach the $5,000 value so if we compare the performance of today from last year then still this price is still considerable and stable. Its just happen that the price of Bitcoin is high as $19,800 last year that most of us are really eager to hit that mark again but better we should use to this current price while we are waiting for future progress of the Bitcoin value.

[1Referee]

OP, then what are you waiting for? Find a job, a second job, any job and accumulate more Bitcoins while the price is under $10,000! This is an opportunity of a life time, do not waste it.

No need to exaggerate things.

The difficulty went up nearly 15% a few days ago, and it currently signals a +6% difficulty adjustment for next period. It means two things;

1) The current price isn't low at all, meaning miners have plenty of room to keep making profits even if the difficulty keeps increasing further and the price doesn't.
2) The current price is close to break-even levels, but miners mine anyway and accumulate in anticipation of higher prices later on.

Option 1 is the most viable in my opinion. Miners in most cases only care about the economical gains they can book right now.

[hugeblack]

I do not think the "new high" will take all that time "1,176 days (from Dec 2013 to Feb 2017)". Single good news "LN activation" is enough to raise the price to $ 10,000 again.
There is no need to repeat the time events, the decline in the past has its reasons, which are entirely different from now.
With the current upturn on bitcoin, the probability of a return included because this decline is a correction

[carlisle1]

173 days? That's nothing. It took 1000+ days for Bitcoin to return to its all time high that it hit all the way back in November 2013 ($1100+). It could take just as long for all we know, but 173 days is nothing to worry about. It is different this time around due to the increase in interest, but I don't think it will make it more difficult for BTC to reach new heights.

True and lets not exaggerate making the last hype of $20,000 is the basis of the price because we all know that it was a bubble and it will take long time before reaching it again in a normal way no bubbles ,$10,000 is the highest value that for sure will happen this year but if  growth go over that then lets all be thankful but expectation will only bring us bitterness

[Febo]

"Bitcoin has now gone 173 days without a new high.  Longest streak ever was 1,176 days (from Dec 2013 to Feb 2017)." So I came across this fact on twitter, and checked obviously (always DYOR haha) so what do guys think this says about BTCs current position, or what it does for the much anticipated bull run. We know that Mt. Gox "helped" make that previous streak a reality, and current conditions are not even similar, there is much more awareness and players. But do you think the the overhype that took it to 20k and its followed drop for the past 6 moths (which caused major disillusions) , will make it more difficult for BTC to reach new highs?

 

I dotn understand why people keep repeating that because of current awareness, things are much different.  It is normal that awareness is  higher. So it is price. Last ATH was at $1200 now is at $20000. So yes much higher awareness is needed to reach $20k then $1.2k.

[fabiorem]

1) The current price isn't low at all, meaning miners have plenty of room to keep making profits even if the difficulty keeps increasing further and the price doesn't.
2) The current price is close to break-even levels, but miners mine anyway and accumulate in anticipation of higher prices later on.

Option 1 is the most viable in my opinion. Miners in most cases only care about the economical gains they can book right now.

Is the mining calculator wrong, then?

https://www.cryptocompare.com/mining/calculator/btc

[GalahadSeika]

So sad that we haven't got any since 173 days. Well, just stay positive. I think we can get through of this. Probably late August or September and we're on just like last year .

[The Sceptical Chymist]

GAME OVER   

Nah, this is a healthy sign.  True, the speculators who are expecting nothing but an upward trajectory for bitcoin are probably moving on to...whatever...but everyone else who's been through weird markets before knows that's not possible. 

As pointed out, bitcoin went a hell of a long time before reaching new highs between 2013-2017, and I remember those days vividly.  I thought bitcoin was dead at that point, and then at some point it fell below $200 and I was sure it was in the coffin--but it wasn't.  Nor is it this time.  The doldrums have to shake out the weak people in the market before it can start booming again.  So stay tuned.