Bitcoin might be ready to pump similar to December 2020

[bbc.reporter]

I am not quite certain about this, however, this might be a similar set up for bitcoin on December 2020.



What I can be quite certain of is traders and whales are opening long positions in the futures market. This is indicated in the advancing on the open interest in the perpetual futures market together with the slow growth in the price of bitcoin.

[darkangelosme]

In my own view i think it is only a game of mind and it is up for the new beginners if they will gonna invest and i think they will, so reaching 50,000 USD or even 60,000 USD for Bitcoin is not impossible, that's why we must buy some Bitcoin right now while is very affordable.

[jamietao]

I am not quite certain about this, however, this might be a similar set up for bitcoin on December 2020.

It actually looks like a mini version of March to April of 2021. I'm looking at your first pic. Which is a bit scary because there was a massive dump afterwards. Is it possible same might happen again?

[crwth]

This is what I'm confused with, with this type of analysis. It's a trend line showing almost 30-45 degrees pointed upward, and it's already concluded as the same. I'm just not convinced right away, and this is not to offend you, OP. I'm just curious how it's considered with just that line.

Anyway, based on the pictures you posted, it looks comparable, but the previous price action from 2021 is different from the last action price from December 2020. So I guess we have to wait out what happens before December 2021, and then the chances of it being the same from 2020 will be determined whether it will go higher or lower. We will see it soon.

[Victorycoin]

I am not quite certain about this, however, this might be a similar set up for bitcoin on December 2020.

It actually looks like a mini version of March to April of 2021. I'm looking at your first pic. Which is a bit scary because there was a massive dump afterwards. Is it possible same might happen again?

No one is sure what will happen next the huge pump of bitcoin in march april is much smaller than the one based on the pictures above will have to wait to see bitcoin's pump it is better if prices go up, and if they go down the same thing could happen in 2020. I think you have to analyze the charts to understand the price.

[Baofeng]

Everyone is expecting a big pump at the last quarter, so yeah, we could see similar pump or even in the higher end come December. And many of us have predicted a $100k or more price this 2021, and so it seems that there is a positive sentiments about it. Also we have Taproot in November, I think this one will be huge for the market as this will be the catalyst for the eventual run to 6 digits, so it's very exciting year end run again.

[slaman29]

In my own view i think it is only a game of mind and it is up for the new beginners if they will gonna invest and i think they will, so reaching 50,000 USD or even 60,000 USD for Bitcoin is not impossible, that's why we must buy some Bitcoin right now while is very affordable.

First time I've heard someone say buy Bitcoin right now because it's very affordable. I mean, we're talking a time when buying a whole Bitcoin even in 2017 was impossible for majority of the planet, what more to say now when it's many times more in price.

Besides, even if BTC = $1m you still can buy it, your fractions simply get less and less.

[Frengki_cisco]

I hope so, but as far as I know every four years something like that happens, 2017 and 2020, of course expectations are like what you said and also from the graphs that you show and what maybe it will happen in this year.

My response Bitcoin is at the highest level at the moment, the possibility of a big drop, the pump is thin, that's a healthy brain I think so.

[GreatArkansas]

Very possible that history will repeat itself.
What happened last December 2020 is possible these days. But we should also consider the price before it was around $20,000, and now the price of Bitcoin already doubled from December 2020. But the key here that is important to look forward to is we are also near on the all-time-high, $60,000. So breaking the ATH will probably same as what happened last December 2020.

[bitzizzix]

Very possible that history will repeat itself.
What happened last December 2020 is possible these days. But we should also consider the price before it was around $20,000, and now the price of Bitcoin already doubled from December 2020. But the key here that is important to look forward to is we are also near on the all-time-high, $60,000. So breaking the ATH will probably same as what happened last December 2020.

If we look closely, of course, the history and graphs of bitcoin movements must have similarities and the only difference is the nominal value.
and if true and correct then last year's movement will repeat itself this year will be very interesting and will exceed the previous high ATH, because the current price is more than double from the previous year and if it continues it will most likely reach 100k and even exceed that price. 

[milewilda]

I am not quite certain about this, however, this might be a similar set up for bitcoin on December 2020.

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What I can be quite certain of is traders and whales are opening long positions in the futures market. This is indicated in the advancing on the open interest in the perpetual futures market together with the slow growth in the price of bitcoin.
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Im not really a fan on going back in the past even just seeing some patterns which we do presume that it could happen also into the future but the probabilities is there since nothing is impossible
and everything is really unpredictable but based off on how bitcoin moves then theres no such pattern that could give out precise prediction on where it would be heading.
It is just people cant really just forget that everytime were heading in the last months of the year then we do already presume that the price might really be having
those new ATH pumps kind of movement.

[Kyraishi]

I think that we're probably going to see a top soon to be honest.

$50k is a psychological barrier that seems to be posing significant resistance. Unless this is breached in a week or two, I think that the bears will likely see a resurgence and BTC prices will regress to around the low $40k's, high $30k's.

Still long term bull on bitcoin but this sort of bullishness cannot last forever in the short run.

[TravelMug]

Very possible that history will repeat itself.
What happened last December 2020 is possible these days. But we should also consider the price before it was around $20,000, and now the price of Bitcoin already doubled from December 2020. But the key here that is important to look forward to is we are also near on the all-time-high, $60,000. So breaking the ATH will probably same as what happened last December 2020.

Whether we follow the 2013 pattern or 2017, all speculation seems to be pointing to the same thing, the price of bitcoin will go above $100k. And so far, we are still in target as we have breach $50k again this August.

So the first thing we need to see is if we can break and established a new all time high (above $64k), and most likely as we have seen the price reaching $50k already. So for September, $60k is possible going to the last stretch of the year.

[bbc.reporter]

I think that we're probably going to see a top soon to be honest.

$50k is a psychological barrier that seems to be posing significant resistance. Unless this is breached in a week or two, I think that the bears will likely see a resurgence and BTC prices will regress to around the low $40k's, high $30k's.

Still long term bull on bitcoin but this sort of bullishness cannot last forever in the short run.

Your speculation is with the trapped shorters who appear to be remaining in a stage of disbelief and might also be risking to be short squeezed. I am only speculating myself based on the data on open interest and funding rates, however. I might be wrong and this market might be in a stage of complacency.

[pooya87]

Considering the fact that price rise has been behind the 2017 schedule by a couple of months and we are still in a reverse bubble and haven't even gone back up to the intrinsic value, I don't see December being the "pump" month like it was in 2017. We'll have to see a lot of rises and reach at least $250k then see the sudden "pump" that happens from time to time in bitcoin world leading to the final bubble at $500k.
This can only happen next year.

[xSkylarx]

Well, if this happens, that is fantastic news, but we can never forecast the price because the market is so volatile. However, if this occurs, we will all be delighted, and those who occupy the position will leap for joy. I don't have a bitcoin right now, but if the price rises, I'll be thrilled.

[traderethereum]

I am sure many of us are waiting for the bitcoin price to have a pump like before.
It could happen anytime, but many speculations say that in the next few months or before the end of this year, the pump can come and increase the price.
But besides hoping to see the price jump higher, we need to be ready if our hope is not coming because there are no accurate signs for the market telling us when the price will get a pump.
But we will not see the same situation and conditions as what we saw before because this year, many companies are involved in crypto and already invested in big money. So we can just wait for more and hopefully, the price really gets a pump from this month until the end of this year or next year.

[Lucius]

~snip~

Your explanation makes sense, although the next 4 months are potentially very promising if we look to the past -but we also know that the past cannot always be repeated. Some experts (if we can call them that) are also more inclined to believe that something big will happen during 2022 or even 2023, and maybe they are counting on the first BTC ETF to be approved in the US - which everyone agrees will result in with an incredible jump in price.

I doubt that news of El Salvador or Fidelity speculations can have such a big effect on price in such a short time.

[arwin100]

Well, if this happens, that is fantastic news, but we can never forecast the price because the market is so volatile. However, if this occurs, we will all be delighted, and those who occupy the position will leap for joy. I don't have a bitcoin right now, but if the price rises, I'll be thrilled.

We can't forecast because of the volatility but we can still believe that forecast especially the pattern has been repeated over the years and if you think about it, bitcoin despite being volatile renders the same pattern every year and it only continues to ascend in prices so I don't think that we don't have to believe that forecast, just don't get hyped or dragged by the hype.

We cannot forecast how the price goes since volatility is unpredictable but actually there are certain instances that we can check how market will go thru the chart although we cannot fully trust since the result is not accurate but somehow its a great help for traders on what they need to do to ride up the current volatility happened on certain period of time. forecast is meant to be taken as guide not to be hype and if you get FOMO for certain happenings then you might lose your money traded at that time.

[STT]

September is a very uncertain generally negative month for mainstream markets in historic record.   I think correct stance in this exact moment in time is best suited to caution and if we prove resilient then BTC might appreciate better in the last months of the year.   I see the start of a pullback here, if it fails then I'll change my mind.