Two Years Ago, Bitcoin Was Over $19,000 — What Happened?

[Wexlike]

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.

[1714809207]

1714809207

[outatime1]

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.

[drachman]

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.

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.

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.

[stomachgrowls]

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.

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.

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.

[wildan88]

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.

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.

[kapalmabur]

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.

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

[msarro]

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.

[rodskee]

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.

[Natalim]

You can't always expect the market to peak, and all is overvalued at that moment. As a result, Bitcoin got affected and then the negative perception of Bitcoin emerged among people with the bearish market that sadly pushes down the price so fast. The economy is stable right now, though it's always in my favour, if it could repeat the bullrun again and be able to keep up or even raise prices somehow it would be really great.

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.

[Kyraishi]

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.

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.

[thecodebear]

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.

Exactly. What happened is simply the market cycle.

[d3nz]

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.

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.

[arwin100]

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.

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.

[AjithBtc]

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.

Exactly. What happened is simply the market cycle.

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.

[zeingrind777]

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.

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.

[Captain Corporate]

 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.

[Wysi]

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.

Exactly. What happened is simply the market cycle.

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.

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.

[ubercool]

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.

[asus09]

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.

[btccashacc]

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.