What happened to this 'easy 10k'?

[d5000]

People don't realize how toxic these bull run noobs are for the overall sentiment of the market and the ecosystem in its entirety. They aren't here for Bitcoin's utility, they are here solely to ride the hype and then shit on Bitcoin.

Exactly!

And if we look at the last bear market, then it was extremely productive for Bitcoin. LN, for example, was conceived in 2014/15, near the 5-year-low. And lots of new services (ATMs, for example) emerged, and lots of new markets (Asia, Africa, ...). And above all: The last bear market has told us that Bitcoin is here to stay and that its ecosystem is healthy. The 2011 bear market was the last one that really was dangerous in the sense that Bitcoin could have fallen again into complete irrelevancy.

I was absolutely sure that Bitcoin would see $3000 in this bear cycle when it hit the $6000 mark, but now I even doubt that. The $5500-6500 region has proven to be a major support, having been tested multiple times now. It may go further down, but after the price bottomed we should go up again into that region again pretty fast.

[1713270558]

1713270558

[1713270558]

1713270558

[1713270558]

1713270558

[wxa7115]

Just wondering guys, you were all so confident we were in a strong bull market and would break 10k easily, looks like the opposite is becoming a reality and we're heading straight back to new lows.

There are always people like that, in the forum there are many people that like to spread FUD an there are others that seem to live in the land where everything is spin in a positive way, I have maintained for a very long time that it is going to take a very long time before the market begins to show signs of a strong recovery.

It will probably take years, but the reason we had a recent increase in the price was the ETF and now that the decision has been delayed then the market lost interest in bitcoin for the moment, but you can be sure that when we get close to that date again the price will go up once again.

[figmentofmyass]

I was absolutely sure that Bitcoin would see $3000 in this bear cycle when it hit the $6000 mark, but now I even doubt that. The $5500-6500 region has proven to be a major support, having been tested multiple times now. It may go further down, but after the price bottomed we should go up again into that region again pretty fast.

i'm not sure of anything right now, and i've stepped away from trading until there is a clear trend or range. if the market can break above $8500, then i'd be more confident in a long sideways accumulation period. i definitely think $3000 is still a possibility (maybe further). we've spent quite a long time in this $6k-$9k range = lots of new bagholders if the bottom falls out again.

[khufuking]

Unlike most others ( mark my words ) I now believe more that we will break 15k before the end of this year $5700-$5900 then boom . In this market everyone have his own theory and you can not say it is wrong .

[Kimi80]

Well not all of us, we could find people here that are exceptions, people that didn't believe in that scenario. I personally didn't have expectations, I was just watching, monitoring what is going on. We had similar situation last time, price drop on six and something $ and then rise to eight plus. I just want to say that it is possible to hit that figure of 10k $ and at the same time it doesn't have to at all. There's possibly for that situation to repeat and therefore we all might buy some Bitcoin on current price and wait for new growth. Selling on seven thousand is 10% profit...

[Soots]

Well not all of us, we could find people here that are exceptions, people that didn't believe in that scenario. I personally didn't have expectations, I was just watching, monitoring what is going on. We had similar situation last time, price drop on six and something $ and then rise to eight plus. I just want to say that it is possible to hit that figure of 10k $ and at the same time it doesn't have to at all. There's possibly for that situation to repeat and therefore we all might buy some Bitcoin on current price and wait for new growth. Selling on seven thousand is 10% profit...

That probably happens when there's a spikes on price value of bitcoin like holding for a few months, then sell quickly. Some of the traders really applied that kind of strategies in order to earn easy money. But they didn't think about what will going to happen with the market. Well, we can't stop them because they had their own families to feed. It could have been more profit if the $10k earned will not be sold all the way, and maybe it's better to dump only what's needed to have. That's how it works in the recent activities of the current traders in every exchanges right now, so were experiencing market downfalls.

[mkhadazz]

for now there may be bad news so the price of bitcoin is very difficult to be able to make a price increase to $ 10k already very heavy and it looks like bitcoin prices this year will not be good and many will lose because of falling bitcoin prices.

[STT]

Nothing good comes easy really, I expect the bigger rise only after everyone gets gloomy and assumes we only go down.   That has appeared a few times and its then ironic we tend to rise a little as selling reaches exhaustion levels.

But nah I'm not that surprised, it takes some time for the situations to develop.  Also the Bitcoin price is in at least half also based on dollar and that includes the dollar story developing and all you might hear in the news.    I do think as BTC is global and crosses borders that it has a strong context to Dollar used as a world reserve currency, so its inverse most likely.

Last year 2017 wasnt that easy either, pretty sure we had lots of upset even if it rose alot especially at the tail end

[Frances_McGlothlin]

It's game over now. Going to make year lows soon and from there next stop $3000. Bitcoin failed as an experiment, as per the recent bloomberg report bitcoin payments in stores plummeted 80% and as per that other report only 2% of Koreans (the main btc country) is even considering investing in BTC.

What does bloomberg know? They've probably got a grip on less than 10% of the total usage of bitcoin. The number of reported bitcoin payments in stores is probably not even close to the number of unreported bitcoin transactions. That cannot be a valid argument against bitcoin.

Koreans are not the only ones in the world to use bitcoin, so that's not going to have much of an effect on prices. There are lots of other countries who have huge populations (USA, Russia, Turkey, India) that are becoming more active in bitcoin. We can't say it's over until it's actually over.

[Wind_FURY]

Just wondering guys, you were all so confident we were in a strong bull market and would break 10k easily, looks like the opposite is becoming a reality and we're heading straight back to new lows.

You heard it everyone. This is from cryptokwuk who is also known as the famous "Kwukduck". Take this as a sign to buy. Kwukduck is the best crystal ball ever for buyers. You can check his posting history, and see that within a few days, his FUD always coincides in Bitcoin touching the bottom and starts climbing again.

[Joep01]

We always keep in mind that 10k would be easy to reached, by this time bitcoin is trying to be in that way but its a hard way. We are hoping this coming Dec well be the raised of bitcoin and more than 10k that time.

[wxa7115]

Nothing good comes easy really, I expect the bigger rise only after everyone gets gloomy and assumes we only go down.   That has appeared a few times and its then ironic we tend to rise a little as selling reaches exhaustion levels.

It is not ironic, it is how the market is designed to work, many people forget that it is impossible for everyone to win since the markets are zero sum, which means that every profit someone got came from someone else, if we tossed a coin and we played the game for some time and I was up for 10 dollars then that means you are down 10 dollars, but when you add the inefficiency of the market, like transaction fees, exchanges fees and the like, then it is more likely you are down 11 or 12 dollars.

This is important because it is impossible for everyone to win, so when everyone has the attitude that we are going to the moon that is the moment to sell since it is impossible to continue that growth. but if many in the market are gloomy and think bitcoin will crash even further that is the perfect moment to buy since we come from a period in which there was a huge transfer of value from those who have no idea what they are doing to those who do.

[Capt00]

It's too early to say that bitcoin will not reach the 10k price since we have noticed that the price of bitcoin was almost repeatedly every year in the price movement in the market. Since we don't know the exact possible happen to bitcoin let's wait until this last month of the year that expected bitcoin price will go up.
For now, it's an opportunity to buy more bitcoin in the market while it is cheap because when a bull run market has come we all have a huge profit.

[jjacob]

Just wondering guys, you were all so confident we were in a strong bull market and would break 10k easily, looks like the opposite is becoming a reality and we're heading straight back to new lows.

You forgot that 1 Bitcoin is always equal to 1 Bitcoin.
BTC vs USD is fluctuating and in short term no one can predict anything, big players always try to profit, who will not sell with $1,000 profit for 1 BTC?

The 1 Bitcoin equals 1 Bitcoin statement is technically correct, but doesn't say anything else. What matters is what your Bitcoin is able to buy - Is it able to buy you a can of coke or a condo in New York.
As far as those who talk about the bounce to $10k, I think you just have to give Bitcoin some time.

[Bakemat]

We always keep in mind that 10k would be easy to reached, by this time bitcoin is trying to be in that way but its a hard way. We are hoping this coming Dec well be the raised of bitcoin and more than 10k that time.

Obviously yes you are right that bitcoins will surpass $10k dollars again because there are still a lot of people who are holding their coins today and they are just waiting for the market price to pump up.

[Rozita]

Just wondering guys, you were all so confident we were in a strong bull market and would break 10k easily, looks like the opposite is becoming a reality and we're heading straight back to new lows.

When the price is rising, people think it is supposed to always rise. When the price is falling, they think it is supposed to always fall.

[domasal]

South Korean has a lot of open trades but a lot of bitcoin transactions are unknown, think about their neighbours in the north. I'm betting they are stockpiling bitcoin without anyone knowing, and they will use it for secret trades

[bitcoin31]

10k dollars for bitcoin is easy to reach again . Why they did not reach easily? It's because the panic seller who still panicking bitcoin selling becaude their scared to lost more money. First of all before you join better to ready to wait and losing money because you need to take the risk before earn. I hope people will hold and don't be panic to see 10k dollars again.

[Frances_McGlothlin]

10k dollars for bitcoin is easy to reach again . Why they did not reach easily? It's because the panic seller who still panicking bitcoin selling becaude their scared to lost more money. First of all before you join better to ready to wait and losing money because you need to take the risk before earn. I hope people will hold and don't be panic to see 10k dollars again.

Let's start calling 10k when we see 10k. Now we've got to keep some more realistic goals in mind, like 7k. Then we'll look at 8k, 9k. They might all happen immediately after each other, or they might happen months after each other. The importance here is that we cannot have an "easy 10k" at any time. Only when we have upward momentum and strong reasons for it to move.

I don't see anything groundbreaking coming out of bitcoin in the next few months, so we'll just have to hold on and wait. Maybe we'll get a good reason soon.

[d5000]

i'm not sure of anything right now, and i've stepped away from trading until there is a clear trend or range. if the market can break above $8500, then i'd be more confident in a long sideways accumulation period.

Imo it's more important to break out of the bearish channel we're still in. Holding the $6000 area, the price has actually already broken the "ultra-short-bear-channel" which began at the 8500 high. The critical zone to break out of the mid-term bearish trend would be the $7300-7500 area (or around $7000 if the growth is slow).

i definitely think $3000 is still a possibility (maybe further). we've spent quite a long time in this $6k-$9k range = lots of new bagholders if the bottom falls out again.

Yes, but I think the buyers at $6000-9000 are not the same kind of people than the buyers at $10000 - often complete newbies trying to not "miss the FOMO train". They have already sold and are out, I think. The $6-9K buyers are mostly, imo, people more familiar with Bitcoin, who were trying to "catch a dip". Or long-term believers.

That's why I think while $3000 definitively is still a possibility, I guess the crash down to there will be less harsh than the crashes we've seen earlier this year. In 2014/15, a similar pattern could be observed (mostly between October and early January): The longer the bear market progressed, the less harsh the crashes were, with the exception of the final, "cathartic" $135 dip (which got eaten in a few days). So we'll probably see a relatively quiet sideways-to-bearish phase.