history loves repeating itself. the only question is when!

[BrewMaster]

We have seen this time and time again and will see it a million more times.
Price is stopped below a certain line and doesn't go above it for long times with multiple attempts to break that line.
That is the nature of always rising bitcoin to always keep going up until it reaches mass adoption.

Here is the most significant case we had in recent history


Now we are back again at another level repeating the same thing. This time at $11000

The real question is when will it break free?
The market seems ready. The whales have accumulated enough and weak hands are getting FOMO_y to start buying again.
I say thinks are looking good...

[jackg]

The fomo makes me feel mixed short term tbh. When it sets in and "greed" arrives, there's often a shake out of those people...

Were only really up to the levels where people were complaining of a fast crash last time also.... We might not just go up from here - if we pass $12.5k then maybe but there's a lot of resistance in both directions and a potential other cme gap to fill (unless it got filled).

[BrewMaster]

The fomo makes me feel mixed short term tbh. When it sets in and "greed" arrives, there's often a shake out of those people...

Were only really up to the levels where people were complaining of a fast crash last time also.... We might not just go up from here - if we pass $12.5k then maybe but there's a lot of resistance in both directions and a potential other cme gap to fill (unless it got filled).

FOMO is mostly giving the market that shove needed for the momentum to solidify and keep the trend steady. The small correctuon that comes with that FOMO is nothing to worry about because that is just a correction in an otherwise rising market.
I don't think we need 12.5k, if $11k stays and has a small lift that would be enough.

[suchmoon]

We already had it above 11 and even above 12 about a month ago so I'm not really getting what's the significance of it hovering around 11 right now. If it stays there for two years and starts feeling like $250 did back in 2015 then we're talking.

Edit: grammar.

[Juggy777]

We have seen this time and time again and will see it a million more times.
Price is stopped below a certain line and doesn't go above it for long times with multiple attempts to break that line.
That is the nature of always rising bitcoin to always keep going up until it reaches mass adoption.

Here is the most significant case we had in recent history

Now we are back again at another level repeating the same thing. This time at $11000

The real question is when will it break free?
The market seems ready. The whales have accumulated enough and weak hands are getting FOMO_y to start buying again.
I say thinks are looking good...

@BrewMaster looks like your analysis is not wrong after all because according to an Cointelegraph article investors are moving their bitcoins to cold storage instead of holding it on crypto exchanges. Furthermore they say that this holding pattern points to a similar pattern which was seen in 2017, and it could lead to a bull rally but honestly after so many false positives I’m not sure if that bull rally is actually coming or no.

Source:

https://cointelegraph.com/news/bitcoin-price-fundamentals-in-moon-mode-as-btc-held-on-exchanges-drops

[BrewMaster]

We already had it above 11 and even above 12 about a month so I'm not really getting what's the significance of it hovering around 11 right now. If it stays there for two years and starts feeling like $250 did back in 2015 then we're talking.

We are getting there. We alao had $500+ before it suddenly dropped to $250 and got stuck for a while. Then it did the same thing as the chart in OP which is what i mean by history loves repeating itself.

[Fundamentals Of]

Bitcoin's price history is going to come back. That is something definitely happening. But I don't think this is it. It might happen within the year or in the first quarter of next year, we don't know. But this specific sudden rise of the price may not exactly be the cue. I guess this is largely due to the sudden inflow of large investment funds especially Twitter's Jack. We'll see in the coming days if this particular pump holds.

[imstillthebest]

Bitcoin's price history is going to come back. That is something definitely happening. But I don't think this is it. It might happen within the year or in the first quarter of next year, we don't know. But this specific sudden rise of the price may not exactly be the cue.. We'll see in the coming days if this particular pump holds.

btc price reaching 11k is already a proof that history can reapeat it self  . price reach 11k last time but it fall and now its here again .  the comeback happened within this year . dont know if what is your preference or maybe you dont consider the small increase ? or you prefer longer year gaps .

I guess this is largely due to the sudden inflow of large investment funds especially Twitter's Jack

who is jack ? influencial guy and he post something about btc ? but investing can always happen without the go signal of those people .

history  loves repeating itself. the only question is when!

if history loves to repeat itself , it should happen all the time .

[NeuroticFish]

who is jack ? influencial guy and he post something about btc ? but investing can always happen without the go signal of those people .

One of Twitter's founder and CEO. The investment was all over the news lately, especially because he's a public figure.

history  loves repeating itself. the only question is when!

if history loves to repeat itself , it should happen all the time .

Maybe it does happen, just you never know which part of the history is being repeated 

[The Cryptovator]

This isn't a huge change in the current bitcoin price. We have been always encountering such as volatility, I am considering its just normal behavior of bitcoin nature. Most probably we will not repeat ATH very soon. There is DeFi FOMO currently but unfortunately, we can't see much difference in price trend. On the other hand everyone we know about the current situation of the global economy due to the COVID-19 pandemic. Stability bitcoin price on current circumstances if blessing for bitcoin user (IMO). At least O not expecting any big move lately before reset the global ecosystem.

I am assuming currently Jack Dorsey’s FOMO going on.

[beerlover]

The difference between breaking over 200 dollars or so levels and the difference between breaking over $11k is the fact that we have reached over $20k instead of never reaching above $11k.

We had trouble going over 200 before and I remember those days myself since I was here, going above 200 was something very difficult but at the end it was something hard but managed to do it in the end and finally became higher, that is not what is going on with $11k, we have went over $11k multiple times, hell we were over it just few months ago at most (probably not even 2 months) so at the end of the day there is a big difference. So, we in the end have a different things and even though the idea is the same the results won't be the same, we went over $11k and that is about it we won't suddenly go super higher neither.

[Stedsm]

I saw in old times that whenever we are extremely positive about the markets that something good is happening, that's when a bad scenario takes place (like if we expect BTC to go higher quickly because of a possible breakout while there are some great news and fundamentals on the table, BTC does exactly opposite by falling hard). It's not the time for BTC to soar like an eagle yet as I think the charts will still paint some stable kinda sticks before a storm strikes in and bangs BTC up towards a new ATH. And TBH, it's not a low supply coin like YFI that was worth shit and now above BTC in terms of price, I see that exchanges have less sell order volumes that needs to be broken to send BTC over $13k which is being looked as a crucial level to break for a healthy bullish sentiment to be back again.

[CryptopreneurBrainboss]

I feel kind of left out when I see discussion backing years back like that of bitcoin trying to break the $200 resistance, just maybe if I did have those experience, I would have had a more positive response to the up and down movement of the market, because I'm just exhausted. The predictions are just contradicting themselves, thought a crash was coming anything soon due to the second of wave of corona or is that off the table for such positive speculations?. Just asking because I already have most of my portfolio in fiat hoping for that $9.5 - $9.8 crash.

I saw in old times that whenever we are extremely positive about the markets that something good is happening, that's when a bad scenario takes place

I have noticed that too, but sometimes the FOMO just gets too loud that we fall for them. A famous example was the prediction of a massive raise in price after the halving of the block reward event but that wasn't the case. Although many already bought in anticipation of the event, which is why the post halving surge was more profitable than the immediately market reaction after the halving.

[Stedsm]

I have noticed that too, but sometimes the FOMO just gets too loud that we fall for them. A famous example was the prediction of a massive raise in price after the halving of the block reward event but that wasn't the case. Although many already bought in anticipation of the event, which is why the post halving surge was more profitable than the immediately market reaction after the halving.

You are right mate, healthy and steady growth of BTC is a lot better if compared to what we saw in old times - big long candles with millions spent to change the momentum of the markets in one go, but times have changed now. And I don't see the to-be-happening pumps as useful to the image of BTC anymore because what BTC has been doing these days, is what we've wanted since the beginning - to get a stable price.

[DoublerHunter]

Bitcoin's price history is going to come back. That is something definitely happening. But I don't think this is it. It might happen within the year or in the first quarter of next year, we don't know. But this specific sudden rise of the price may not exactly be the cue. I guess this is largely due to the sudden inflow of large investment funds especially Twitter's Jack. We'll see in the coming days if this particular pump holds.

^ Nah, that is probably a coincidence. Bitcoin price will never come back or repeat itself, probably it will have similarities of a pattern but it is definitely different from the previous one. I know that this is the most strategy of most traders here, they are looking for the previous chart and plotted to have technical analysis, but that is the wrong perception to me. You probably also take advantage of the daily news towards bitcoin because this brings some impact to the price of the market.

[LFC_Bitcoin]

The sooner you all stop being so bearish, the better. Traditional financial investments & fiat currencies are in the dirt, there is only one truly decentralized asset with an infinitely capped supply & that’s BTC.

We’re going to a new ATH & far beyond it next year.

I hope your bags are full because it’s going to be beautiful.

 

[pixie85]

The sooner you all stop being so bearish, the better. Traditional financial investments & fiat currencies are in the dirt, there is only one truly decentralized asset with an infinitely capped supply & that’s BTC.

We’re going to a new ATH & far beyond it next year.

I hope your bags are full because it’s going to be beautiful.

 

I think that most holders are just tired. They may sound bearish but they're not. If they were bearish they'd sell it long ago.

I'm still holding my coins although 3 years of the price trying to go break above 50% of ATH is getting quite boring if you're not trading anymore.

If you are a trader the last 2 years were a golden opportunity. You just had to follow one simple rule: it goes above 10 thousand - you sell. It goes below 8 - you buy.
The last few months look like the band is tightening and we're going into 10-11 thousand range which suggest an incoming breakout so maybe you're right about that big move next year.

[Yaunfitda]

I remember that there was a lot of FOMO when we hit $10k, and then that's it, we didn't have a break out run until in the last 24 to 48 hours where the price suddenly broke $11k again and then to resist to go down but instead goes to $11.3. So is this FOMO to $11k? maybe, but perhaps just another step and then we will see another jump to $12k and then it goes on and on again. I think it's just a matter of time again to see another breakout leading to $12k-$14k at the end of the year.

[Oilacris]

I remember that there was a lot of FOMO when we hit $10k, and then that's it, we didn't have a break out run until in the last 24 to 48 hours where the price suddenly broke $11k again and then to resist to go down but instead goes to $11.3. So is this FOMO to $11k? maybe, but perhaps just another step and then we will see another jump to $12k and then it goes on and on again. I think it's just a matter of time again to see another breakout leading to $12k-$14k at the end of the year.

Lets say that the price had moved $1000 in a matter of 24 hours then i cant really blame up people not to say that this is already some sort of Fomo.

This had been always the case but these movements neither would break out or would correct itself this is why its really unpredictable to say that we are on a Fomo or a typical or ordinary day
in crypto.

History might or might not repeat itself but at least we do know that it do able to reach those level unexpectedly.We hope that we would see it once again into this market.
Patience would really be mainly tested out and as far as you wait then better to utilize to make profits in short time basis.

[nelson4lov]

If we're going to have a strong breakout in the market (I'm not talking about the regular 2% - 5% ups or downs), It would be in 2021. I just have a strong feeling about crypto going even bigger next year. Everytime Bitcoin has made the move towards $12K this year, the number of bitcoin shorts always seems to increase.

A famous example was the prediction of a massive raise in price after the halving of the block reward event but that wasn't the case. Although many already bought in anticipation of the event, which is why the post halving surge was more profitable than the immediately market reaction after the halving.

Contrary to popular opinions and beliefs, Bitcoin's price doesn't immediately grow immediately after a block reward halving event. My first experience was with the block halving back in 2016. We didn't see a strong upside move until mid 2017 extending to 2018. Mist people who bought into crypto merely for the strong upside move that was promised/hyped about would be disappointed now.

I'm still bullish on bitcoin and there's a high probability of seeing strong moves in the coming year.