Bitcoin at Yuletide

[Addywealth]

We are gradually heading to the festive period of the year, we are expected to use some of our bitcoin investments to take care of some personal and family needs. With the current status of the market do you see bitcoin rising up at the end of the year? Kindly give your reasons

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[sunsilk]

If you will just surf all over the forum to the right section such as Speculation, you'll see same posts and threads that are discussing about this.

What everyone says is just the same. "Bitcoin will rise at the end of the year", "Bakkt will start the pump", "Bear market's will end soon".

[Baofeng]

We are gradually heading to the festive period of the year, we are expected to use some of our bitcoin investments to take care of some personal and family needs. With the current status of the market do you see bitcoin rising up at the end of the year? Kindly give your reasons

The problem with that argument is that time has change and even though historically bitcoin surges before the end of the year, for me 2018 is quite different from previous years because investors has become smarter and FOMO is already a thing of the past. And even if we have positive news coming like the Bakkt offerings, but we will have to see how everything goes. So just don't put high hopes for another all-time-high is what I'm saying and be prepared so that you won't be disappointed at the end of the year.

[davis196]

We are gradually heading to the festive period of the year, we are expected to use some of our bitcoin investments to take care of some personal and family needs. With the current status of the market do you see bitcoin rising up at the end of the year? Kindly give your reasons

What is Yuletide?Is this some kind of festival?
I believe that bitcoin might reach 10K USD by Christmass but nothing more.There are no signals for a massive growth and reaching another ATH.The bitcoin price goes up every December,we shouldn't expect the opposite to happen.

[Script3d]

We are gradually heading to the festive period of the year, we are expected to use some of our bitcoin investments to take care of some personal and family needs. With the current status of the market do you see bitcoin rising up at the end of the year? Kindly give your reasons

What is Yuletide?Is this some kind of festival?
I believe that bitcoin might reach 10K USD by Christmass but nothing more.There are no signals for a massive growth and reaching another ATH.The bitcoin price goes up every December,we shouldn't expect the opposite to happen.

Google says its archaic term for Christmas
i dont know but there's no season when will the coin gain so much value, your just basing it off to last year price history, it might be different this year no one actually knows when will the price soars up, maybe when it starts gaining value like 1% increase everyday because that what happen last year it started off with 1% increase everyday, yeah it's just better to not assume anything.

[Cryptopher]

Sideways for a while longer. I don't imagine that there will be any action remotely like Christmas 2017.

[KassandrHicks]

That time has changed and even though historically bitcoin surges before the end of the year. 2018 is quite different from previous years because investors has become smarter and FOMO is already a thing of the past. Bitcoin price goes up every December,we shouldn't expect the opposite to happen.

[MohamedJones]

There are only two months left before the year ends. There is no signal of a huge rise yet. We all would like to see a big increse in the price but there is a possiblity of that not hapenning this year.

[Kemarit]

It still boils down to demand. If there's more demand then obviously we will see another break out run, unfortunately, it dried up so I don't see bitcoin making a good run this December. Its interesting to note though that the past couple of years, bitcoin seems to be very bullish specially at the end of the year but its going to be different this time. I advise you not to look at your bitcoin investments to take care of your needs during this holiday.

Sideways for a while longer. I don't imagine that there will be any action remotely like Christmas 2017.

Exactly, its been trading sideways in the last couple of months and I think this trend will continue. Not unless there's news but I'm not seeing anything that will duplicate the craziness of 2017.

[Herbert2020]

we are expected to use some of our bitcoin investments to take care of some personal and family needs.

am i the only one who finds it really strange to see you talk about liquidating assets to "take care of needs"? it is like saying you will sell your stocks because it is the end of the year and you need to buy presents for the family members!
that doesn't make any sense to me. you either use the money you already have, the savings or the end of the year bonus or you take out the profit not the investment.

[Jating]

we are expected to use some of our bitcoin investments to take care of some personal and family needs.

am i the only one who finds it really strange to see you talk about liquidating assets to "take care of needs"? it is like saying you will sell your stocks because it is the end of the year and you need to buy presents for the family members!
that doesn't make any sense to me. you either use the money you already have, the savings or the end of the year bonus or you take out the profit not the investment.

Hahhaha. Exactly, it looks like the OP has put his money on bitcoin market so that he can have a good Christmas season. However, things went for good to worst so the OP is really affected by the current shift of sentiments.

As others have mentioned, past performance doesn't mean future success and this is one classic example. Be flexible and don't rely on your investments so that you will have a better 2018 holidays. On the bright side, you still have 1 month to save and your Christmas bonus to burn. 

[Angelique Donovan]

Crypto market is one of the most volatile thing in the world, and predicting accurately what will happen in this market is very difficult. Anything can happen any time in this market. The market has gone down, but it is maintaining a stability now. Hopefully it will go up by the end of this year.

[nydiacaskey01]

We are gradually heading to the festive period of the year, we are expected to use some of our bitcoin investments to take care of some personal and family needs. With the current status of the market do you see bitcoin rising up at the end of the year? Kindly give your reasons

Before the festive season starts keep in mind that there's also this Black Friday November 23 and Cyber Monday that will happen by November 26. Cyber Monday is most anticipated one because there's a lot of discounts or sale that will happen and available only online so if a site accepts Cryptos, most likely demand will increase for Cryptos on that day. If you have a domain hosted by Namecheap, there's a big chance that they will offer discounts for renewal.

[Pursuer]

well it is not possible to speculate bitcoin like this in short term but all I can tell you that for the past 4 or 5 years that I have been on this forum I have seen that almost every year people start making the same speculation about bitcoin price drop close to holiday's with the same flawed reasoning about them selling their bitcoin "to take care of needs" but in the end we see that either no change happens in price or it rises up. although past performances don't guarantee the future trends but it is something to have in mind.

[Lucius]

We are gradually heading to the festive period of the year, we are expected to use some of our bitcoin investments to take care of some personal and family needs. With the current status of the market do you see bitcoin rising up at the end of the year? Kindly give your reasons

Before the festive season starts keep in mind that there's also this Black Friday November 23 and Cyber Monday that will happen by November 26. Cyber Monday is most anticipated one because there's a lot of discounts or sale that will happen and available only online so if a site accepts Cryptos, most likely demand will increase for Cryptos on that day. If you have a domain hosted by Namecheap, there's a big chance that they will offer discounts for renewal.

It is important to note that most of dealers who accept BTC as a means of payment are using the intermediary services, and they convert that coins to fiat. That actually means that all that spended coins only increase the supply on the market, which means price will not go up because people pay in crypto.

Only way price can go up is to people start buy coins for some reason, and this was usually the case at this time of year - but for now there are no indications that the end of this year can bring an increase in price. However we should not completely dismiss the possibility that something "good" will happen, but in my opinion the odds for it are 25% - it's more likely that price will stay stable as in previous months.

[Pursuer]

We are gradually heading to the festive period of the year, we are expected to use some of our bitcoin investments to take care of some personal and family needs. With the current status of the market do you see bitcoin rising up at the end of the year? Kindly give your reasons

Before the festive season starts keep in mind that there's also this Black Friday November 23 and Cyber Monday that will happen by November 26. Cyber Monday is most anticipated one because there's a lot of discounts or sale that will happen and available only online so if a site accepts Cryptos, most likely demand will increase for Cryptos on that day. If you have a domain hosted by Namecheap, there's a big chance that they will offer discounts for renewal.

It is important to note that most of dealers who accept BTC as a means of payment are using the intermediary services, and they convert that coins to fiat. That actually means that all that spended coins only increase the supply on the market, which means price will not go up because people pay in crypto.

Only way price can go up is to people start buy coins for some reason, and this was usually the case at this time of year - but for now there are no indications that the end of this year can bring an increase in price. However we should not completely dismiss the possibility that something "good" will happen, but in my opinion the odds for it are 25% - it's more likely that price will stay stable as in previous months.

people are not going to buy bitcoin to then go right on to spending it somewhere else! even if the merchants give big discounts that still doesn't make sense because of the fees (2 major fees: fiat deposit fee from bank to buy bitcoin + % trading fee when exchanging that to bitcoin). so if price goes up it is going up only because of speculation and nothing else.

and as for dealers, if they use services such as Bitpay for instance for accepting bitcoin their coins won't be sold on exchanges. they will be sold elsewhere off the market so they will never affect anything about the price. and these services like Bitpay have enough liquidity that a small rise won't really change anything.

[1Referee]

It is important to note that most of dealers who accept BTC as a means of payment are using the intermediary services, and they convert that coins to fiat. That actually means that all that spended coins only increase the supply on the market, which means price will not go up because people pay in crypto.

The impact is negligible with how payment gateways use different exchanges to pull out fiat, which directly results in a situation where their sales are distributed amongst several orderbooks and for that reason don't directly impact the market.

If you also take into consideration that most of the payment gateways actually prefer to hold their coins, then you'll realize that there is little to no selling pressure going on. What they do is short a small percentge of their sales to preserve their fiat value in case the price goes down. On top of that, BitPay needs coins as well, so they won't ever sell everything they have because of how certain merchants prefer partly BTC settlements instead of fiat in full.

Another thing is that if they do end up selling to take out fiat, they won't blindly dump their coins at once but will patiently wait for orders to pop up capable of absorbing their sales.

[dothebeats]

I don't see bitcoin getting some bullish activity even at the end of the year. There aren't any reason for the market to make a push and everyone seems to be waiting for some increase to offload some long overdue coins in their stash. Every single push is met with some kind of resistance immediately after a climb very recently. Also, demand at the end of the year is commonly low since everyone is on the sell side of the spectrum, just like what happened last year. Perhaps Q1 or Q2 2018 is where the action will commence once more (hopefully).

[Freddie Blassie]

As of now we're facing a bear market which is why the prices of cryptocurrency is suffering but we're all in wait fot the inevitable bull that most of us are speculating about happening on the basis of the events in the past around the end of the year. Right now we're all just hoping our speculations are true and we do see thr bull happening but no one can be sure. All we can do right now is hope fot a turnover by years end.

[GenesisDominguez]

Well, if we see the previous stats, if the rule is followed it's a possibility. But the volatility might come in the way, so can't be sure about anything.