Are we in 2017 again? How do you feel about the price chart today?

[Rajamuda]

Bitcoin, which has existed for more than ten years, is indisputable. It is tenacious and unbeatable.
With more and more people's attention, its price will definitely get higher and higher.The market value will also increase.
What we have to do is not to predict it, but to wait.

what we have to do.. we can support bitcoin until its popularity is more increasing, such as introducing it to laymen who are not familiar with bitcoin and can be avoiding pessimism/desperation. This is a special hope/opportunity for humans and predicting it is a natural thing that many bitcoin enthusiasts often do, it can also be used as motivation and encouragement for confidence/optimism.

[BigBos]

thinking about bitcoin today, I still like it, because it changed my thinking about how to make money. however, in terms of price, we never know what will happen. I think, there are still quite a lot of people who are paranoid about 2017-2018, when the bitcoin price went up to ATH and dumped badly. however, the current conditions, are very different from that year. we don't know if the price will dump again, and if we look at the current price, the price starts to recover and moves slowly towards the $60k price again.

Well, right now, I'm still looking to make money from crypto, and because of that, I'm still looking for information about bitcoin and other altcoins.

[michellee]

Bitcoin, which has existed for more than ten years, is indisputable. It is tenacious and unbeatable.
With more and more people's attention, its price will definitely get higher and higher.The market value will also increase.
What we have to do is not to predict it, but to wait.

what we have to do.. we can support bitcoin until its popularity is more increasing, such as introducing it to laymen who are not familiar with bitcoin and can be avoiding pessimism/desperation. This is a special hope/opportunity for humans and predicting it is a natural thing that many bitcoin enthusiasts often do, it can also be used as motivation and encouragement for confidence/optimism.

Besides waiting, we can try to make money from bitcoin. That is the right thing that we should do because while we are waiting, we can see that our portfolio of having bitcoin will increase and we can take benefits from bitcoin. It is a matter of time for bitcoin to be more popular in the future and I am sure that will happen later.

So far, I am okay with the price chart and do not have a problem because I am trying to enjoy the up and down of bitcoin prices. And if I think I can enter the market and use the opportunity to buy low and sell high, that will be my chance to make a profit. Otherwise, I only watch the price and not doing anything except waiting.

[hello_good_sir]

No, we are not in 2017.

We're much further along this time given the large volume of institutional adoption. And markets have matured to the point where most big players in the crypto scene are no longer unregulated entities, but carefully watched organisations under the SEC.

The fundamentals are completely different despite the way that charts look being similar. And I would always go for fundamental analysis.

[dragonvslinux]

I wouldn't get caught up in Stock to Flow model too much, it was a great prophecy to worship around the halving and $10K levels, but now doesn't feel like it's really proven itself (until $100K is reached at least).

Personally I'm more of a fan of logarithmic growth, and although this chart would be better with an extrapolation of what happened in 2012 with a 50%+ drop followed by more upside, we are still on target for $100K+ I believe:

This thread reminds me to extrapolate 2012 onto the current 2021 bull market, as I'm sure it'd look a lot more similar than above.

PS - There was another hash ribbons buy signal that hasn't been seen since sub $20K in 2020 

[adaseb]

I think there are many here who were around in 2017 who have been bearish for a while, because they are getting 2018 PTSD pretty much. They all assume that $64K must of been the top and are preparing for a 80% drop on BTC and 90% drop on ETH. However I don't think this is 2017.

The way that price action is going it seems more like 2013. Where we topped in April and bottomed in July and hit new ATH in Oct/Nov before the blow-off up. This seems to be the current projectory. So most likely not much will happen until middle of September or early October. And we might get a blow off top in Dec or so.

[magneto]

I think that we won't necessarily see a "winter" per se this time round.

There is just too much institutional investment and actual fundamental growth for prices to collapse down to less than $20k. I personally believe that we will see strong support at that level (which was the previous bull run's major resistance) going forward.

Although, I don't necessarily expect the bull run to continue either - 6 figures is likely out of the question for now.

[Fundamentals Of]

The next halving is still in the year 2024. That is still very far from today. There are still 3 years more before it happens. So I guess it is still too early to talk of a crypto winter before that next halving takes place. And even if that crypto winter finally comes, I know Bitcoin's price is still a lot higher than today, more than $100,000 most probably.

Bitcoin not strong enough for $100,000 because people are having Bitcoin for all the wrong reasons? I don't think so. If people are buying Bitcoin for all the wrong reasons, that doesn't matter to Bitcoin. The way you use and treat Bitcoin is all up to you. But the moment you bought Bitcoin you already drove up the demand and contributed to the price increase.

[leea-1334]

The next halving is still in the year 2024. That is still very far from today. There are still 3 years more before it happens. So I guess it is still too early to talk of a crypto winter before that next halving takes place. And even if that crypto winter finally comes, I know Bitcoin's price is still a lot higher than today, more than $100,000 most probably.

Bitcoin not strong enough for $100,000 because people are having Bitcoin for all the wrong reasons? I don't think so. If people are buying Bitcoin for all the wrong reasons, that doesn't matter to Bitcoin. The way you use and treat Bitcoin is all up to you. But the moment you bought Bitcoin you already drove up the demand and contributed to the price increase.

Feels already like a long time actually for me since the last halving,,, and when we see that rallies usually start within a year of the halving, we are definitely according to the past in a rally now. Rallies also do not last long and then there is a period of 2 years before the next one so we definitely should not be thinking of a rally that goes into 2022,,,

[OgNasty]

The market seems to be performing exactly as expected for an end of year bubble just as it has in 213 & 2017. Right now we’re in that scary bear trap where there’s doubt developing in the market but I suspect that will all change in another month or two. Stay the course… The numbers won’t lie to you.

[hugeblack]

We will not repeat the scenario of the year 2017, the peak at 19.6k (2017) was temporary and was not healthy, the price rose a lot at that time and therefore it is wrong to expect that the price will reach 200K in December.

The good side is the increase in trust in Bitcoin and therefore the top at 64K will not be the highest peak for this year if the current optimism continues.

You notice that many people do not sell and some even buy more, so the upward curve will continue.

[Fundamentals Of]

The next halving is still in the year 2024. That is still very far from today. There are still 3 years more before it happens. So I guess it is still too early to talk of a crypto winter before that next halving takes place. And even if that crypto winter finally comes, I know Bitcoin's price is still a lot higher than today, more than $100,000 most probably.

Bitcoin not strong enough for $100,000 because people are having Bitcoin for all the wrong reasons? I don't think so. If people are buying Bitcoin for all the wrong reasons, that doesn't matter to Bitcoin. The way you use and treat Bitcoin is all up to you. But the moment you bought Bitcoin you already drove up the demand and contributed to the price increase.

Feels already like a long time actually for me since the last halving,,, and when we see that rallies usually start within a year of the halving, we are definitely according to the past in a rally now. Rallies also do not last long and then there is a period of 2 years before the next one so we definitely should not be thinking of a rally that goes into 2022,,,

On the contrary, I even think that at this time it is more reasonable to interpret price rallies to be effects of the previous halving rather than the next halving. The previous halving had just took place last year, and its effect was not expected to fully translate into a price increase immediately. It will take months before the shortage of Bitcoin reward will finally be felt by the market. So there is reason to believe that in 2021 the previous halving which was 2020 is much more influential to the current price than the next halving which will happen in 2024.

[adaseb]

Personally, the way that price is acting right now. I think that we might get a similar scenario as 2013. Where we peaked in April, bottomed out in July and peaked to a new ATH in November. However most likely it'll happen a month or two earlier or later. We might peak in Oct or in January or so.

Reason why is because most people I know personally, people on crypto twitter and people on this forum, they are very bearish and expecting a bull market. The transactions and mempool is basically empty and most people have already given up, which means the opposite will happen.

What will the new ATH be? No clue. However I don't think it will go higher than $100K. Too much resisatance in that area.

[leea-1334]

Rallies also do not last long and then there is a period of 2 years before the next one so we definitely should not be thinking of a rally that goes into 2022,,,

On the contrary, I even think that at this time it is more reasonable to interpret price rallies to be effects of the previous halving rather than the next halving. The previous halving had just took place last year, and its effect was not expected to fully translate into a price increase immediately. It will take months before the shortage of Bitcoin reward will finally be felt by the market. So there is reason to believe that in 2021 the previous halving which was 2020 is much more influential to the current price than the next halving which will happen in 2024.

I cannot disagree,,, except as I said the rallies in the past always started around 6-12 months after the last halving,,, which actually seemed to correlate when we saw the end of last year, which was 6/7 months after the last halving.

And the rally itself lasts about a year so we are approaching soon that mark of one year. This is why I say 2022 should not be a continuation.

[Lucius]

~snip~

Halving has its effect, I personally don't think we've seen the best of it yet - and everything that started happening last year at this time is actually the result of the price we have today. I am thinking of the rather large investments from companies such as MicroStrategy, Grayscale, Tesla, and PayPal's entry into the crypto market.

Consequently, we can assume that there will be no replay from the end of 2017, and that the price could continue to rise because there is more than obvious demand - how else to explain that the market started to recover at the same time as last year? Less mined coins on market, rising demand and a price that is at the moment more than a good base for a new ATH - I hope we have a very exciting 4 months ahead of us

[Porfirii]

~snip~

What a time to be alive! I am optimistic too about the future, taking into account how the price is doing in the last months, the increasing adoption and the interest in the media I foresee a good end of year too, so I reaffirm my thoughts after your comment.

A new fresh ATH as you say would be great, but I would be even happy if the price kept this rank for a long time.

[hatshepsut93]

2017 never had such big and long corrections as this cycle. The current price recovery does not 100% guarantee that the bull run is back, it could be a bull trap and the price could still drop bellow $30k. There is no clear and simple pattern right now, many scenarios are possible, so IMO it's better to not make any moves if you don't want to risk big.

[Mahanton]

2017 never had such big and long corrections as this cycle. The current price recovery does not 100% guarantee that the bull run is back, it could be a bull trap and the price could still drop bellow $30k. There is no clear and simple pattern right now, many scenarios are possible, so IMO it's better to not make any moves if you don't want to risk big.

Better not to mind yourself about patterns or something like that because this is something that you couldnt really able to see if there are really some probably forms or patterns for you to presume that we are really
into the same situation. Better not to be stressful because find out clues or hints or forms will really be not ideal and would really be just giving out some headache.The market could move up freely according
to the demand and into some other factors which you should really be mindful on how to take advantage and be sufficient on using those info's.

[leea-1334]

~snip~

Halving has its effect, I personally don't think we've seen the best of it yet - and everything that started happening last year at this time is actually the result of the price we have today. I am thinking of the rather large investments from companies such as MicroStrategy, Grayscale, Tesla, and PayPal's entry into the crypto market.

Consequently, we can assume that there will be no replay from the end of 2017, and that the price could continue to rise because there is more than obvious demand - how else to explain that the market started to recover at the same time as last year? Less mined coins on market, rising demand and a price that is at the moment more than a good base for a new ATH - I hope we have a very exciting 4 months ahead of us

Yes,,, and I have also been more and more convinced lately that this cycle will be the first one that is not going to be very very similar with the past halvings. So no longer extremely short and high rally,,, and more of a patient and slow build up to a high. If this is true then it should be good news for buyers because this means the corrections and dips are also not going to be as shocking as before.

As you say it could be the last ATH was not even the halving effect but all those big buys from companies. Let us hope the excitement is for us less scary than 2017!

[bitterguy28]

Bitcoin, which has existed for more than ten years, is indisputable. It is tenacious and unbeatable.
With more and more people's attention, its price will definitely get higher and higher.The market value will also increase.
What we have to do is not to predict it, but to wait.

what we have to do.. we can support bitcoin until its popularity is more increasing, such as introducing it to laymen who are not familiar with bitcoin and can be avoiding pessimism/desperation. This is a special hope/opportunity for humans and predicting it is a natural thing that many bitcoin enthusiasts often do, it can also be used as motivation and encouragement for confidence/optimism.

But be careful in spreading Crypto specially online because you might be a target of bad elements in your place , remember that crypto related crimes now are increasing and there are even Kidnap victim that has been killed because the family refuses to pay the Bitcoin payment demand of the abductor .
what i mean here is that lets choose whom we will invite and encourage and choose people that closes to us and wont risk our crypto or even our life.