Bitcoin's new All Time High (ATH) has been reached this year again (X2)

[el kaka22]

What's differentiate BTC to it's previous trend bull run is that:

a. We have institutional money flowing in the market in the last year or so
b. Big companies hedging their reserve asset to bitcoin and putting it in their balance sheet
c. Individuals hedging bitcoin against bad government
d. Whales and more whales coming into the market
e. Bitcoin ETF's, giving us some sort of acceptance from regulators.

You listed the good things, but there are also bad things not happening compared to last time as well. Remember one of the main falls of bitcoin was the fact that we didn't had segwit, so the cost became as high as 40-50 dollars per transaction for a while, this is no longer the case. We also had Craig Wright selling thousand of coins and buying mining power to get BCH, which he failed but still managed to drop the price of bitcoin by selling that much.

We also had market money loss on many fake and scam ICO's as well, which crashed because they were scams and shitcoins, making many people lose money, and I mean a lot. None of that is happening now, as much as the good things matter a lot, the bad things not happening anymore matters even more if you ask me. The nature of bitcoin and most crypto is going up, maybe it would be slower, maybe it would be faster, but it will always go up in the long term, so avoiding bad things will result with good results in the long run.

[Yaunfitda]

The bitcoin price is now down to $61k and that's a reasonable drop due to profit-taking. However, I don't think a September-like correction is likely to happen again. So far the crypto market is still in a bullish situation. therefore, a new ATH for altcoins is definitely coming.

Even we are trading above $61k levels right now, earlier today, bitcoin was falling up to $58k levels which made me to have new calculations before we are thinking about getting into a new ATH. I guess for the remaining days of this month and the first week of November month, we may have only sideways market as market is lagging volume which might be due to lack of new investors. When more people are anticipating about bearish trend in January then we cannot expect more new people just 2 months before that.

There's a lot of volatility right now, moving up and down from $58k-$61k range. It means that traders are still undecided. So there's a chance that we will go sideways as you have mentioned or really goes down again to $55k because of that indecision from speculators and traders.

And I guess everyone is really anticipating that 6 digits this December that's why the market is in the middle. But hopefully November will be another big month for us if we wanted to get into that $100k mode at the end of the month.

[lixer]

There's a lot of volatility right now, moving up and down from $58k-$61k range. It means that traders are still undecided. So there's a chance that we will go sideways as you have mentioned or really goes down again to $55k because of that indecision from speculators and traders.

And I guess everyone is really anticipating that 6 digits this December that's why the market is in the middle. But hopefully November will be another big month for us if we wanted to get into that $100k mode at the end of the month.

Yeah market sentiment is definitely into dilemma; we need big news to decide the direction further. Just because we got stronger bullish rally by November and December may not help to have same kind of scenario. We are all expecting another ATH to happen but not sure how many of traders are finding similar signal for their trading. Only when both speculators and traders agree for same scenario then market may move toward new ATH and when speculators do based on history and not per technical things then unexpected may happen.

If another new ATH happen in this year then we can easily get into $100k levels but if bitcoin market remains sideways but under ATH then there would be lesser possibilities for new ATH.

[proudhon]

The "new" ATH is basically the same as the old ATH from this year, which confirms an extremely bearish double top. All down hill from here.

[Silberman]

I'm not surprised that Bitcoin has been able to surpass a new ATH again this year, which means Bitcoin has experienced twice ATH this year in different months with not so long duration, which is about 6 months(+ -), and this is lagging -again proving that Bitcoin continues to strengthen and is trusted by everyone, but what I'm surprised is that all the popular Altcoins in the market have not reached their new ATH after having reached it together with Bitcoin in the previous 6 months.
What do you think this is affected by ? so Altcoin looks very difficult to increase now

It is not that surprising, altcoins show a delayed reaction to the movements of bitcoin, back then the all time high of bitcoin and altcoins matched because back then bitcoin was making all time highs almost everyday so it makes sense that altcoins finally caught up with bitcoin in that scenario, but now we are only at the beginning stages of a new series of all time highs for bitcoin, so it makes sense that bitcoin reached its all time first and it will take altcoins some more time before they can do the same.

[crzy]

The "new" ATH is basically the same as the old ATH from this year, which confirms an extremely bearish double top. All down hill from here.

This could be more critical as we are down again and if Bitcoin can’t rise we can expect a bear trend before the year end which is basically happened every year where people spend money during the holidays. For now, its time for altcoins to pump and happy to see some altcoins initiate the up trend. Bitcoin will rest for now and will wait for its momentum again.

[Fundamentals Of]

The "new" ATH is basically the same as the old ATH from this year, which confirms an extremely bearish double top. All down hill from here.

This could be more critical as we are down again and if Bitcoin can’t rise we can expect a bear trend before the year end which is basically happened every year where people spend money during the holidays. For now, its time for altcoins to pump and happy to see some altcoins initiate the up trend. Bitcoin will rest for now and will wait for its momentum again.

You are responding to someone who is always bearish on Bitcoin. But Bitcoin doesn't care about people. It just continues to rise.

Simply because Bitcoin is down, it is already critical? Bitcoin corrects in the middle of bullish rallies. That's very normal.

Do you have something to prove that Bitcoin's price goes down before every year ends? I think you are wrong. December is generally a good month for Bitcoin. We will wait and see whether December 2021 is the same.

[Davian144]

The "new" ATH is basically the same as the old ATH from this year, which confirms an extremely bearish double top. All down hill from here.

A fall back is very certain to happen, but everyone should also remember that Bitcoin can also fly back after a decline as seen now in the market, but for now I am more impressed with Ethereum which has also been able to create its new ATH at $4400 in This morning.

[SquallLeonhart]

In 2021, anything beyond $19,800 must be a new ATH and this way, we had multiple ATHes in first four months of this year and the current ATH is not second time we are seeing an ATH. Like you and many other people, I am also not surpriced on seeing the bounce back of bitcoin as it is a highly expected one.

In a bullish year, we may get into ATH multiple times and this way we are having the current ATH around $67k levels and most people are expecting it to be broken at any time as there are strong speculations about getting into $100k levels at any time soon. Honestly the current ATH is something we got just because of recovering from the correction hence we need to have the actual new growth only here after.

It is really remarkable that bitcoin got potential to scale around $64k some six months back itself and we are into same level of peak price levels for more than six months of time frame. By considering the new investments made into bitcoins and how many positive progress we had within bitcoin ecosystem then probably we might have got into $100 levels already but China's ban and Elon Musk's concern on bitcoin mining were the reason why we are still struggling within April's ATH.

[Gozie51]

The "new" ATH is basically the same as the old ATH from this year, which confirms an extremely bearish double top. All down hill from here.

This could be more critical as we are down again and if Bitcoin can’t rise we can expect a bear trend before the year end which is basically happened every year where people spend money during the holidays. For now, its time for altcoins to pump and happy to see some altcoins initiate the up trend. Bitcoin will rest for now and will wait for its momentum again.

Don't expect this year ending to repeat itself like the previous years ending with the festivities. One of the very reason that this times may not be like the past is bitcoin has performed better than other years despite covid-19 challenges. Last year that is 2020 was the covid-19 pendamic year but it increased bitcoin price more, investors are hodling in expectation of 6 digit nobody want to miss the and institutional investors don't panic sell. So with the December month , things can be different.

[magneto]

Bitcoin is the only true store of value imho.

Its first mover advantage in the cryptospace is immense. People are recognising this now and putting money into bitcoin as a safe haven asset when they have made gains in other cryptos.

Definitely watch bitcoin dominance, as I think there is tremendous upside for that index even now.

[darewaller]

You are responding to someone who is always bearish on Bitcoin. But Bitcoin doesn't care about people. It just continues to rise.

Simply because Bitcoin is down, it is already critical? Bitcoin corrects in the middle of bullish rallies. That's very normal.

Do you have something to prove that Bitcoin's price goes down before every year ends? I think you are wrong. December is generally a good month for Bitcoin. We will wait and see whether December 2021 is the same.

That is the thing about the increases and decreases. The moment you realize that it doesn't care about what you think about then we are going to make a lot more profit as well. Proudhon is not a bearish person but more like a joking person. He knows that bitcoin will go up, he just doesn't want to admit that because this is a lot more fun.

I seriously believe that he just makes this as a joke and he just talks about how bitcoin will go down because it gets more attention for him and at the same time it is actually a trolling that people like as well. Plus he is acting like this because there are people like that too, so it is serious for some people. Bitcoin will always be bull, sure there will be downs at some times but at the same time it is not going to be recovered and go even higher.

[Kemarit]

Bitcoin is the only true store of value imho.

Its first mover advantage in the cryptospace is immense. People are recognising this now and putting money into bitcoin as a safe haven asset when they have made gains in other cryptos.

Definitely watch bitcoin dominance, as I think there is tremendous upside for that index even now.

Bitcoin's dominance is still within range, just like in the last bull run in 2017.

And I do agree, it's a prime mover so no doubt that everyone is on it since the beginning and I'm sure there still a lot of long term bagholders in this community.

And it is far more evident now that it become a safe haven and then become a hedge for companies in their balance sheet.

[Silberman]

Bitcoin is the only true store of value imho.

Its first mover advantage in the cryptospace is immense. People are recognising this now and putting money into bitcoin as a safe haven asset when they have made gains in other cryptos.

Definitely watch bitcoin dominance, as I think there is tremendous upside for that index even now.

Correct, even if bitcoin failed on its attempt to becoming a currency used widely all over the world, something that I do not believe it will happen but lets assume it just for the sake of argument, even then bitcoin could become incredibly successful as a store of value, if the majority of investors put 1% of their capital in bitcoin just in case things went wrong that will be more than enough for the price to skyrocket to massive levels.

[TheEconomists]

The trust for Bitcoin and crypto currency at large has really increase over the year and the price increase is the evidence that the demand for Bitcoin is higher than the supply which has reflected in it's price in recent time no doubt. From all indication, Bitcoin will still see another ATH before the end of this year and there is no doubt about it.

[stadus]

Bitcoin is the only true store of value imho.

Its first mover advantage in the cryptospace is immense. People are recognising this now and putting money into bitcoin as a safe haven asset when they have made gains in other cryptos.

Definitely watch bitcoin dominance, as I think there is tremendous upside for that index even now.

Bitcoin's dominance is still within range, just like in the last bull run in 2017.

And I do agree, it's a prime mover so no doubt that everyone is on it since the beginning and I'm sure there still a lot of long term bagholders in this community.

And it is far more evident now that it become a safe haven and then become a hedge for companies in their balance sheet.

But we never know when the bull run will be over, just ensure a profit and you'll not worry going forward.

The previous bull run that was achieved in the year 2017 was around $20k, now we are trading at $60k that's after almost 4 years of a bearish market, so let's enjoy this moment as when the bearish market will come again, it might be long and that we have to wait for a new bull run to come again.

[Bollexz1]

Yes it has, and this utmost performance had cleared many people's doubting bitcoin of hitting 100k by year end. And for altcoins.. They surely will increase too as long as bitcoin stables.

[Slow death]

The "new" ATH is basically the same as the old ATH from this year, which confirms an extremely bearish double top. All down hill from here

well the price came to $67000, this is new ATH and about to fall, I think you're wrong, the price is far from falling, as I said in the last post, with this ETF animation the price won't fall anytime soon, we have It is necessary to forget about this possibility so soon, it is enough to see that the price has reached the new ATH but has not yet fallen as much as it did in the past. this is a sign that it will still go up

[24Kt]

The "new" ATH is basically the same as the old ATH from this year, which confirms an extremely bearish double top. All down hill from here

well the price came to $67000, this is new ATH and about to fall, I think you're wrong, the price is far from falling, as I said in the last post, with this ETF animation the price won't fall anytime soon, we have It is necessary to forget about this possibility so soon, it is enough to see that the price has reached the new ATH but has not yet fallen as much as it did in the past. this is a sign that it will still go up

The reason why it seems bitcoin is sustaining its price level because the positive news keeps on coming like the first approved btc ETF, and it is rumored, there will be more crypto-related ETFs that will be approved soon. Aside from that, the move of El Salvador to make btc as legal tender seems working. And won't be surprised if other countries will follow their crypto journey. And also, Mastercard announcing that their partner banks may soon add crypto services is also part of good news when it comes to adoption. So high likely that we will see a new ATH before this year ends, possibly in the 70k range.

[Kemarit]

The "new" ATH is basically the same as the old ATH from this year, which confirms an extremely bearish double top. All down hill from here

well the price came to $67000, this is new ATH and about to fall, I think you're wrong, the price is far from falling, as I said in the last post, with this ETF animation the price won't fall anytime soon, we have It is necessary to forget about this possibility so soon, it is enough to see that the price has reached the new ATH but has not yet fallen as much as it did in the past. this is a sign that it will still go up

And if you look at Bitcoin's past four cycle history, it's usually in December that we will see the final all time high of the year. So we still have two months to go to gauge how far this bull run will go. As expectations, we are looking for 6 digits at least. It might be too high of a expectation, but we all know how Bitcoin's bull run it, there's a lot of FOMO and no body can really stop it, not FUD. And what's more if we have a lot of good news next month like Taproot and ETF. So still the future looks bright and let's wait what December will bring to us.