Christmas 🌲 Bear 🐻 Already Started Munching!

[BitcoinPanther]

It seems what happened last 2017 when Bitcoin topped around $19,000 is happening again this time. Peaked in the month of December is starting to decline again. But this time is different, no abrupt dumps or pumps compare before. I can say this time is more healthy price action.

The total market cap still not showing any bearish sign. Observing the total crypto market cap may also a good idea and way to identify the bull/bear market. So far, so good for me.

What's happening now has absolutely no comparison to December 2017.

It's comparable to what happened in December 2016 and January 2017. The price rose through the autumn until it broke the previous ATH then corrected for a while before the really big rally almost a year later.

The bear market won't happen until late next year or early 2022.

It looks like you took the 4-year cycle as reference.  I agree that Bitcoin bear hasn't been awaken yet.  This is just a healthy price correction.  I also believe that the Bitcoin market will continue to uptrend until the end of 2021.

[teosanru]

All the signs of the Christmas 🌲 bear has been shown.

That very bear has already started clapping down on the market.


 

Oh cmon Bitcoin has pumped more than 100% in just a matter of 3-4 months even 30% dump would look like the correction in such sort of market and when it's hovering around 23-24k you are saying that it's bear signs? Quite strange how quickly people change their perspectives towards the market. Moreover, the pump back in 2017 was much less stagnant than this one this time bitcoin has peaked and stayed in that zone for quite some time now. It's pretty early to say that it has found support here but it seems like a healthy price movement and I feel that there is still enough fuel for another leg up. But obviously, my targets aren't too fancy as people are predicting like 70-80k I think a 30k would be more than enough for this time. But yes you can say a few people withdraw some money out for Christmas so it might see a bit of movement but don't think this is anything serious.

[philipma1957]

All the signs of the Christmas 🌲 bear has been shown.

That very bear has already started clapping down on the market.


 

and btc has bounced back over 23,400 from 21,900

eth bounced back from 551 to 607

Most people running around think this is a bull market don know what bull markets are.

they are looking at the 3900 last march and seeing 23400 now and scream bull bull bull.

BTC has reaching correct levels of pricing which should be in the 21-24 range.

Eth is almost at correct price which should be about 750-800 range.

to be bear or talk bear at this point in time is bullshit

If we get over 28k this year we will be in the true bull run territory.

we were 19.9 dec of 2017
we are 23.4 dec of 2020  about 18% over 3 years

the dow was 24.7 dec 1 2017
the dow is 30.1 dec 24 2020  about 22% over 3 years.

These gains are not that much for a true bull run.

So I am not particularly concerned about you bear guesses.

If we zip on by 30k fast maybe we drop hard then.

[dunfida]

All the signs of the Christmas 🌲 bear has been shown.

That very bear has already started clapping down on the market.
 

Lets see if it would able to hold up and its somewhat anticipated for this thing to happen since we are on a holiday season where people do need to exchange some of their investment
to fiat to celebrate and buy up things that they do like.
You would really be expecting these kind of events yet sentiments like these we're common and also even if theres no holiday then corrections and red market can happen anytime.
This is why it isnt really surprising on seeing red prices in a particular time.Thing here is that you had already secured out your profits and take advantage into those movements.
Buyback when its cheap should be always in consideration.

[exstasie]

All the signs of the Christmas 🌲 bear has been shown.

That very bear has already started clapping down on the market.

Has it? I see a 10% dip in BTC, then a sideways recovery. It honestly looks like stair stepping before new highs. On the weekly, it's a spinning top doji, not an obvious reversal candle.

I'd love to be wrong about that. I'm in low risk mode and my longs are tiny these days because we've gone so high without correcting, and because sentiment is so greedy right now. I'm waiting for a big washout like January, March, or June 2017 before buying big on leverage again. Until then, the big crash could be around the corner. Doesn't mean it has to happen now though.

[Oshosondy]

As soon as inflation starts growing and world banks stop printing money, Bitcoin might start dropping in value - that could be a long way off though.

Bitcoin is not inflationary like fiat, if fiat is inflationary and circumstances resulting to inflation, that means bitcoin will have more value which could in one way increase the price of bitcoin. What did you mean by if bank stop printing money? Did you mean when CBDC will start be used for currency purposes? I do not yet understand how this is linked to how bitcoin price will fall because it is not possible for bitcoin price to fall because of inflation or because of when banks stop printing fiat.

[arwin100]

All the signs of the Christmas 🌲 bear has been shown.

That very bear has already started clapping down on the market.


 

Just see it back again those since the few dumps happened is pretty much normal since you need to consider the season but for what I see this morning is bitcoin is doing a solid up again so provably the bear we fear for is not totally damaging since we have great potential coming up next year.

[UnDerDoG81]

I smell grilled bears...

[STT]

Total market cap would be a macro trend probably identifiable against Dollar index rising, we only have a hint of that and really no excuse to presume USD especially reverses the recent trend into this year end.

Price at the moment is quite indifferent, we are caught between the fast 2 day and slightly more considered weekly average which are blue yellow lines on this chart.     Just before close of the daily bar its broken back upwards again so is hardly negative on any time frame.

23777 is about the same high it achieved a week ago so has held better then many times previous

[Kemarit]

LOL, I really don't know why people are comparing 2020 to 2017, there are not the same, this is just 2016 wherein we have a rally drop significantly. But entering the first quarter of 2017, the price rose to 4 digits to $2000 because of the news about the Winklevoss ETF around March, the price nosedive with the rejection.

So we are still far from the bubble we have seen in 2017. This is just the start of something big in 2021. As the price can rose massively to $30,000-$40,000.

[n0ne]

At the moment the market changes doesn't look like the trend pattern of 2017. Right now the market has once again bounced back, the bear trend has got transition. Altcoins seems to face the bear trend, that too with XRP it is a massive decline in the market from the recent bull market. For users who profited out of the XRP it is time for a buyback.

[exstasie]

I smell grilled bears...

Bears. It's what's for dinner.

LOL, I really don't know why people are comparing 2020 to 2017, there are not the same, this is just 2016 wherein we have a rally drop significantly. But entering the first quarter of 2017, the price rose to 4 digits to $2000 because of the news about the Winklevoss ETF around March, the price nosedive with the rejection.

I think a lot of people are just referencing 2017 as another way to say "bubble."

But yeah, it's definitely best to view the potential upside in terms of extensions above the previous ATH. In 2017, we saw a 16x extension above the 2013 ATH. In 2013, we saw a 35x extension above the 2011 ATH.

The year it happens doesn't matter......

[adaseb]

What happened yesterday was basically the SEC said that xrp is a security and sued ripple. So there was a huge dump, it was at -50% at one point. And since most tokens are most likely securities they started also dumping.

It was brutal for most coins except BTC. Many people especially people who bought alts on leverage or margin most likely got cleaned out. Today things have calmed down and many alts are back to the same levels.

[inanilujimi]

This is a common thing, when there is a holiday celebration, people will sell to get fiat, but no need to worry that the current market is so strong for bitcoin.
make this a discount price to buy again because we may not be able to see bitcoin prices around $ 23k in the next year.

[shoreno]

This is a common thing, when there is a holiday

yeah  it is common for holidays to see a bear because there will be snow and bears eat snow . hehe joke

celebration, people will sell to get fiat,

but seriously now , i think it wasnt really common to see a bear market happening in holidays because i think that last past holidays , like holidays on the year 2017 there is no bear that we experience but it was only a bull . no need for people to sell to get fiat because if they have a job they can get paid by a fiat but the year now can be different because we are still in crisis or financial crisis to most families . maybe that also leads for people to not have a fiat but only has a btc to sell for fiats .

[goaldigger]

Many believes people are cashing out their Bitcoin to spend it for the holidays, and its possible sine this happen all the time and if we are still on a strong bull run then we should go back easily right after the holidays. In the past red days the market is facing some bad news, specifically with XRP but I know all time high is yet to come, $25k can still be achieve next year.

[JimboToronto]

Ahh yes. That old Christmas bear...



Merry Xmas. Happy ATH.

[el kaka22]

End of the years are not really the best time to start investing, it is usually a bit too late to invest if you ask me. Normally if you want to invest into something, do it a bit after the year ends and new one starts. Consider investing in February for example? That would usually be a better situation for you.

There is no guarantee when it will go up or down because it is totally random but "usually" before the year ends people get their bonuses and payments and salaries so they all go into bitcoin, which leaves bitcoin at a higher price, but the same amount of buying doesn't happen again and again constantly without a stop, so it changes the price. Of course this might be counter balanced by some rich companies buying too, we don't know what is going to happen, but we know that we are a high price right now, that much is clear, waiting a bit more wouldn't really hurt.

[pixie85]

Many believes people are cashing out their Bitcoin to spend it for the holidays, and its possible sine this happen all the time and if we are still on a strong bull run then we should go back easily right after the holidays. In the past red days the market is facing some bad news, specifically with XRP but I know all time high is yet to come, $25k can still be achieve next year.

Many believe what they believe. I see people getting rid of worthless altcoins to get more BTC.

It really looks like some of that dumped XRP went towards the strongest coin on the market and gave it a nice boost. 25000 is going to show as our new ATH any minute now.

Merry Xmas. Happy ATH.

Marry Bullmas and a Happy Dead Bear

[maxreish]

Not yet bear for bitcoin. Bulls are still strong and that was just a very  small correction lol. We are just into 23k something and not yet below 20k so we are expecting some small consolidations before the 3rd pump wave.

But yeah, while btc dominance are high, most of the altcoins are suffering from bloody markets resulting them to be in bear mode. Especially xrp, which I doubt it is good to buy it for now because of that issue it's suffering right now.