Bitcoin metrics “INSANELY BULLISH”! Can the King go to 200K or more this cycle?

[Baofeng]

Anything could happen. But, when most people start being cautious then no one could hold the market. I mean all the investors who had watched bitcoin markets by 2013 and 2017, definitely will look for bearish market from January 2022 which means they may not add new bitcoin to their portfolio. So, when market sentiment turns then understood cycle will persist.

Only whales could take the current bullish trend till mid of next year. They need to trigger FOMO to make individual investors to help them.

That's something I've been thinking of. Anyone new to the space reads or is told that Bitcoin comes and goes in cycles, extreme and spending little time near the peak. So they see 2021 as the peak. But as I said, this looks like anything but the 2013 and 2017 cycles -- if they're paying attention. Fundamentals have never been so strong, network elements never been so stable, individual influence never so negligible (hence why it will require concerted whale effort to bring the required momentum for mid-2022 rally extension.

You know what? I've been thinking about the same scenario, since bitcoin's narrative has change in 2020-2021, why not the cycle that we've used to? Maybe it's no longer a 4 year cycle that will end in 2021 and then early quarter of 2022, the first sign of bearish cycle will appear.

Maybe in mid-2022 the price will be so strong based on so many reasons that the 4 year cycle will be broken and we might see 2 waves of bullish run up to the end of 2022.

[buwaytress]

That's something I've been thinking of. Anyone new to the space reads or is told that Bitcoin comes and goes in cycles, extreme and spending little time near the peak. So they see 2021 as the peak. But as I said, this looks like anything but the 2013 and 2017 cycles -- if they're paying attention. Fundamentals have never been so strong, network elements never been so stable, individual influence never so negligible (hence why it will require concerted whale effort to bring the required momentum for mid-2022 rally extension.

You know what? I've been thinking about the same scenario, since bitcoin's narrative has change in 2020-2021, why not the cycle that we've used to? Maybe it's no longer a 4 year cycle that will end in 2021 and then early quarter of 2022, the first sign of bearish cycle will appear.

Maybe in mid-2022 the price will be so strong based on so many reasons that the 4 year cycle will be broken and we might see 2 waves of bullish run up to the end of 2022.

I'm sure there must be people already considering this possibility and I'm sure analytics are digging up new trends, but yes, it already looks a very different season and cycle. I remember last November quite well, so it's already a year now we're heading into of strangely lit sentiment. I remember December particularly well, that's when we reacquainted with 20k -- and if conventional cycle wisdom held, we'd already be on our way down now from a parabolic high culminating in a single sheer peak. We've just only left behind a second, higher peak in this run. Anything but a textbook cycle we're in now. All bets are off.

[dezoel]

I just wonder what are the possibilities for the current bullish rally to end without having an FOMO phase? If that will be possible then we may fail to touch $100k itself with this current rally. When everyone was expecting a bearish trend in January then everyone may remain cautious which again will end the trend of understood cycle.

You need to consider the positive news happening all over the world to speculate the possibility of not having an FOMO phase with this ongoing bull run.

1. China is asking public opinion to reopen crypto mining.
2. At least 3 countries has showed interest to declare bitcoin as a legal tender.
3. Bitcoin ETF is about hit the live market.
4. Tesla getting 2 big orders and Musk may invest another billion into bitcoin at any time.
(He is the richest as of now hence we need to watch him out closely).
5. In my local newspaper I am frequently seeing crypto exchange's ads. (In last one month, 2 of my old friends called me to ask what is bitcoin).

So everyone is talking about bitcoins hence we will have FOMO for sure this time as well. Moreover, I am positive on taking bull run into 2022. This way ATH may happen by 2nd quarter of 2022.

[batang_bitcoin]

I'm enjoying the ride and will be more optimistic if the market goes to the way that we don't like to but has to happen which is the bear market.

Yeah bear market is inevitable as the same bulls are the core factors to trigger it; profit booking must be the first reason for bearish trend. So, regardless of how much positive we are while bullish trend, we tend to act to exit which is basic human nature to protect the profits. So, how intensively being bullish right now may not be insignificant when people psychologically getting ready to exit; this is the reason round numbers are acting like strongest support or resistance levels.

It's like folding and expanding and it has to happen because we've been used to the market. We're aware of what's next and which is which. Took some profits already and I'm happy that even it's not the peak, it's already good on my end that I have to do it so that I don't miss taking profits if the wheel doesn't go along with what we want and that's the continuous bull run. But good things comes to an end and with a cycle just like the market for bitcoin.

[slaman29]

1. China is asking public opinion to reopen crypto mining.

Personally I think this would be the most impactful news of all.

Yes, Tesla, and ETF and legal tender but those are good news that has already come, and just comes on top of all the first time already.

If China backtracks on their decision, it will be the first time China news is nonFUD and then the rest of the world for sure cannot sit down and allow them to go full Bitcoin. This will change everything.

[Coin_trader]

1. China is asking public opinion to reopen crypto mining.

Personally I think this would be the most impactful news of all.

Yes, Tesla, and ETF and legal tender but those are good news that has already come, and just comes on top of all the first time already.

If China backtracks on their decision, it will be the first time China news is nonFUD and then the rest of the world for sure cannot sit down and allow them to go full Bitcoin. This will change everything.

The statement above about China asking public opinion about unbanning crypto is just a mere speculation by random guy on twitter. The Chinese Government some article about there position crypto mining but it do not that they are asking the public opinion if they will unban it or not. China is committed to reduce carbon emissions in there country and Bitcoin mining is contributing a lot on this so they obviously will not allow it since they can't manipulate it.

You can check this article https://decrypt.co/84386/china-reverse-bitcoin-mining-ban-whats-really-going-on?amp=1 for more info and for clear view on this issue.

[Silberman]

We are not really having "struggle" to reach $70k, we are just not going there yet and that's it.
I believe that we are doing fine, I mean expecting bitcoin to keep doing something amazing every single day is not something that I could support all that much, it is something that people should not be focusing on all the time.

That's not a struggle, it is just a point where we did not cross yet and that's it, not something we can't cross or try and fail, we are just happy with what we have and that is why we are not trying hard enough. Believe me when the time comes we are going to reach to 200k as well, just like how we broke over 50k so easily recently and once before during spring, 100k will be broken just like that, and 200k will be too. All we need is to wait for sellers to leave, each time we go up there are more people willing to take their profit and leave, after that buyers will manage to get it higher.

Dont be too optimistic , prepare for the plan b as nobody knows that those huge balance on the fund manager company could bored and withdraw it anytime or playing with the market altogether along with other whale that triggered . moreover we are facing christmas & new year in the next couple of weeks .. people often spend it for a temporary leisure or for some luxury shit.

prepare for some real hard correction like we used to , im bullish with you guys but for the current time , it must be a huge correction in the upcoming weeks for sure.

This is the way to go about this, I also expect the price of bitcoin to go up at the end of the year and I think it is possible the bull run extends to 2022, however we also need to think about what we should do in the case our prediction is wrong and bitcoin does not do that, many are just long term holders and as such they will just keep holding their coins in the case of a correction, but if you are a trader you need to keep your eyes open as we know that the corrections in the market can happen at an amazing speed and if you do not have a stop loss by the time you realize what is happening then you will sell when the price has decreased by a significant amount.