Bitcoin Is Approaching $17000

[tabas]

There's probably a motion to bitcoin's price together with the entire crypto market. Every announcement that's related to the rates set by the FED, there's an equal reaction to most markets and that's not just only limited to the bitcoin/crypto market. I am in that impression and wanting to believe that if good things come before and after this year ends, we've already seen the bottom and it's not going to be lower than that. But at the same time, this is the crypto market you expect the unexpected.

The current market conditions are chaotic, there are a lot of trust issues, FUD is all over the place, and the lack of support from big investors makes it hard for prices to go up. People tend to stick around and not invest right away even when they realize that $16K or $17K is still low. The bottom may still be reached for the rest of the year, but I don't really expect it.

It's understandable why they're hard on investing right now. We've just been into FTX and other companies that have filed for bankruptcy and announced their closure.
Can't blame if people won't trust and invest for now as that's essential for a market to be in that situation where many are doubting it. And from the news that has circulated not just on us here but also to the circles of media where they've been the headlines and daily news that has been covered.
This shall pass soon, and we'll be seeing how it'll recover.

[goaldigger]

Unfortunately today the Red Again Market and goes down again below $ 17K, but there is a chance to return to $ 17K because I see that the negative trend caused by FTX is now starting to disappear, investors are increasingly optimistic that the market is immediately rising and does not care about the current price .

If the panic is gone already, and the anger phase was out, then maybe we can start the HOPE phase where we can see a slight pump that eventually will turn into optimism. Bitcoin might continue to struggle though in short term as holiday is approaching and many will cash out for sure, after this it will rise again. We are below $17k again but not much, we if ever there’s another good news probably the pump will begin again.

[TravelMug]

Unfortunately today the Red Again Market and goes down again below $ 17K, but there is a chance to return to $ 17K because I see that the negative trend caused by FTX is now starting to disappear, investors are increasingly optimistic that the market is immediately rising and does not care about the current price .

If the panic is gone already, and the anger phase was out, then maybe we can start the HOPE phase where we can see a slight pump that eventually will turn into optimism. Bitcoin might continue to struggle though in short term as holiday is approaching and many will cash out for sure, after this it will rise again. We are below $17k again but not much, we if ever there’s another good news probably the pump will begin again.

If I'm not mistaken, I've seen charts like this before, anyone, of course, there will always be hope for us, we seen this cycle before, it's like 3/1, 3 years of bear market and then just 1 year of bull run but it's all worth it we will see a massive pump.

As for the end of the year, I remember way back 2018 when we are in this kind of situation, there was such pump.

But this time I don't know, maybe $17k is most likely the price that we are going to see at the end of the day.

[CageMabok]

Unfortunately today the Red Again Market and goes down again below $ 17K, but there is a chance to return to $ 17K because I see that the negative trend caused by FTX is now starting to disappear, investors are increasingly optimistic that the market is immediately rising and does not care about the current price .

Soon everyone will be in the new year and for some investors they will definitely celebrate the new year regardless of market conditions and maybe they will not immediately enter the market at this time before celebrating the new year with their families. $17K is a fantastic price to buy in bulk, but considering the increase hasn't been seen in a significant way, further consideration is needed before putting any new money into the market for now.

[Lubang Bawah]

It seems like the price of December will be in the range of $ 17k, if it drops it might not be long back to $ 17k, this can be seen from the history since the FTX case occurred 2 weeks ago, with facts like this then I will focus on Hold Long Term and hope prices can skyrocket like 2021.

And the most important thing is not panic when looking at the price of dropping, but always think positively and keep buying.

[Wong Goblog]

The price of Bitcoin which dropped sharply from $ 22K to $ 16K in a week when the FTX case occurred now seemed difficult to rise, yesterday the price of $ 17K and today dropped again to around $ 16800, of course this is a long journey to be able to see the price skyrocketing again.

[Yamifoud]

The price of Bitcoin which dropped sharply from $ 22K to $ 16K in a week when the FTX case occurred now seemed difficult to rise, yesterday the price of $ 17K and today dropped again to around $ 16800, of course this is a long journey to be able to see the price skyrocketing again.

We got crazy if we keep following the chart. The dump and pump are going to happen whether we like it or not.
That is why I keep a distance from the market and tried not to check the price because it only gives us headaches. Because even if we see the price of Bitcoin will reach $20 today, still it gives us no confidence that it will stay there. The bear season still dominating the market and it looks like we never see any improvement that would say we are moving far from it.

The FTX issue is almost over but it feels like still a lot of people can't move on.

[yudi09]

BTC is currently trading just above $16,500, which is the critical resistance. It is trying hard to validate the current upswing. Therefore, a slight pullback close to the previous resistance could be prominent before the price moves up.

Bitcoin closed November price at $17.1k and started December at the same price based on UTC time update. Now Bitcoin is trading at $16.9k and was trading at $17,050 at 12:15 PM according to the CMC chart.

We are still waiting to see what will happen in December and the price of $17k is still a price that will hold on despite the difficulties in the market.
It is highly probable that the price will cross the $17k to be traded this week.

[iamsange]

It seems like the price of December will be in the range of $ 17k, if it drops it might not be long back to $ 17k, this can be seen from the history since the FTX case occurred 2 weeks ago, with facts like this then I will focus on Hold Long Term and hope prices can skyrocket like 2021.

You need to know that market conditions in each year will not always be the same as the previous year, even though you yourself hope that the same thing as last year will happen again next year. The point is that we will all always see different conditions in Bitcoin every year, there will indeed be a price increase in Bitcoin, but to see the same price as last year in Bitcoin next year it seems like it will be a little difficult because this year Bitcoin has experienced a very large decline.

The price of Bitcoin which dropped sharply from $ 22K to $ 16K in a week when the FTX case occurred now seemed difficult to rise, yesterday the price of $ 17K and today dropped again to around $ 16800, of course this is a long journey to be able to see the price skyrocketing again.

Maybe it will be long, but I also don't think that improvement will be seen in the long term. Because Bitcoin only needs a gradual increase without a bigger drop in order to be at a price closer to ATH in the last year. Because now the price of Bitcoin is very different and the increase will also occur differently if there is no more panic at the end of this year for all investors.

[_BlackStar]

Bitcoin closed November price at $17.1k and started December at the same price based on UTC time update. Now Bitcoin is trading at $16.9k and was trading at $17,050 at 12:15 PM according to the CMC chart.

We are still waiting to see what will happen in December and the price of $17k is still a price that will hold on despite the difficulties in the market.
It is highly probable that the price will cross the $17k to be traded this week.

The best price range during december is $17K to $20K, I think that's more convincing than going down to find the lowest price. $17K will be support as bitcoin price strengthens in December so I think we will soon leave strong $16K support untouched.

However the FTX case will continue to impact the bitcoin price in the market for the rest of the year so the possibility of a rebound to $20K is hard to imagine. Bitcoin needs more support and trust after the FTX crash hit crypto, so it's taking a while to get back to $20K. But now that market conditions are looking much better than the start of the FTX crash, this is a positive.

[Vinaa77]

BTC is currently trading just above $16,500, which is the critical resistance. It is trying hard to validate the current upswing. Therefore, a slight pullback close to the previous resistance could be prominent before the price moves up.

Yes. It appears Bitcoin is pumping, and bucking a bear market. The price of Bitcoin has now reached $ 17k, but the chart conditions are unstable. Maybe this is a good start for crypto growth. We just need to be careful, because problems with crypto keep happening, so we don't cause bigger losses. I think short term trading is better to anticipate bear market.

[ginsan]

Yes. It appears Bitcoin is pumping, and bucking a bear market. The price of Bitcoin has now reached $ 17k, but the chart conditions are unstable. Maybe this is a good start for crypto growth. We just need to be careful, because problems with crypto keep happening, so we don't cause bigger losses. I think short term trading is better to anticipate bear market.

it becomes a crucial choice for the current market moment. short term is something that is very difficult to predict when market conditions are sideways. I prefer to play spot than futures in current market conditions even though futures has a fast profit ratio but also has a negative impact if we are still beginners in futures trading. in the past two days btc was trading at $17k and there is a possibility to increase in the middle of this month. I saw a chart that was shared on Twitter media, it looks like we will face a beautiful leap this month. therefore I think we have a chance to do a better entry later this year and hold until the middle of next year if we don't have a soul in the long term.

At the end of this year, there were a lot of negative news that hit crypto so that some of them caused big chaos, such as the bankruptcy of Ftx and the collapse of Terra Luna. hence this had a strong downside effect on the btc price in the last month but this month I hope the market impact will be strong again.

[JoyMarsha]

If we compare this year's bearish market to past year's bearish markets, we will discover that this year's bearish market is considerably superior in terms of pricing. Crypto only recently went through something terrible this year that has caused many to completely lose faith in it (the luna crash and FXT hack) but we were lucky to still have bitcoin price above $15k.

Since quite some time now, the price of bitcoin has been between $15,800 and $17,000; however, once it is able to break over $17,500, there won't be a decline until the price of bitcoin returns to its previous level of $21,000 and above.

[South Park]

BTC is currently trading just above $16,500, which is the critical resistance. It is trying hard to validate the current upswing. Therefore, a slight pullback close to the previous resistance could be prominent before the price moves up.

Yes. It appears Bitcoin is pumping, and bucking a bear market. The price of Bitcoin has now reached $ 17k, but the chart conditions are unstable. Maybe this is a good start for crypto growth. We just need to be careful, because problems with crypto keep happening, so we don't cause bigger losses. I think short term trading is better to anticipate bear market.

It is important to be prudent when it comes to our predictions about what it could happen during the next weeks, because even if it is a good news that bitcoin has surpassed 17k, at the same time it is not as this is a groundbreaking achievement, and in social media I am already seeing some people predicting a bull market and major upwards movements when we have no idea if this is actually going to happen at all, since the market is so unstable that it could always move in the opposite direction for no apparent reason.

[serjent05]

Unfortunately today the Red Again Market and goes down again below $ 17K, but there is a chance to return to $ 17K because I see that the negative trend caused by FTX is now starting to disappear, investors are increasingly optimistic that the market is immediately rising and does not care about the current price .

Also, I think the positive news about Brazil accepting  Bitcoin as a mode of payment also helps in the current situation.  FTX FUD diminishing plus good news of adoption simply means a recovery.  I hope the recovery continues and is not just another bull trap.

If we compare this year's bearish market to past year's bearish markets, we will discover that this year's bearish market is considerably superior in terms of pricing. Crypto only recently went through something terrible this year that has caused many to completely lose faith in it (the luna crash and FXT hack) but we were lucky to still have bitcoin price above $15k.

It is obvious that when FUD effect weaken, and is supplemented by good news, the market will slowly recover because the sentiment is shifting from being bearish to somehow bullish.

Since quite some time now, the price of bitcoin has been between $15,800 and $17,000; however, once it is able to break over $17,500, there won't be a decline until the price of bitcoin returns to its previous level of $21,000 and above.

There is still the possibility of Bitcoin prices fluctuating from $17k+ to $16k+ because the market sentiment is not yet stable.  Any news will make the sentiment shift depending on what kind of news it is.

[Oasisman]

Unfortunately today the Red Again Market and goes down again below $ 17K, but there is a chance to return to $ 17K because I see that the negative trend caused by FTX is now starting to disappear, investors are increasingly optimistic that the market is immediately rising and does not care about the current price .

Did the people who have lost their money in the FTX incident have recovered their funds already or they as well have disappeared? lol
It's not only the negative trend that we're looking at, we have also to consider those people who have lost their money and was not able to buy Btc back lately. They could've made a good impact to the market recovery.
Nevertheless, Btc has already bounced back to $17k level currently, though Btc gone back and forth from $16k-$17k. No signs of being bullish yet, but it's not something we're expecting next year.

[Sebas.tian]

The price of Bitcoin which dropped sharply from $ 22K to $ 16K in a week when the FTX case occurred now seemed difficult to rise, yesterday the price of $ 17K and today dropped again to around $ 16800, of course this is a long journey to be able to see the price skyrocketing again.

Yes, that is why many traders are still investing in Bitcoin in this bearish season because the market price is still decreasing in the crypto market, so that both the long term traders and short term traders will have the opportunity to achieve a passive incomes in the future. I don't think, the price will decrease more than $16,800 before traders will begin to experience bullish season in the environment which is the best season all the traders are waiting to see right now. I believe, the price will hit back to $40,000 before the end of this year because every December the market price used to improve to allow traders to make a good profits from their investment.

[yudi09]

Bitcoin closed November price at $17.1k and started December at the same price based on UTC time update. Now Bitcoin is trading at $16.9k and was trading at $17,050 at 12:15 PM according to the CMC chart.

We are still waiting to see what will happen in December and the price of $17k is still a price that will hold on despite the difficulties in the market.
It is highly probable that the price will cross the $17k to be traded this week.

The best price range during december is $17K to $20K, I think that's more convincing than going down to find the lowest price. $17K will be support as bitcoin price strengthens in December so I think we will soon leave strong $16K support untouched.

However the FTX case will continue to impact the bitcoin price in the market for the rest of the year so the possibility of a rebound to $20K is hard to imagine. Bitcoin needs more support and trust after the FTX crash hit crypto, so it's taking a while to get back to $20K. But now that market conditions are looking much better than the start of the FTX crash, this is a positive.

The market is currently showing a positive movement even though the increase is still a small percentage of around 1.7%. I agree with you that $17K was price support in December.

The incident that happened to FTX was unavoidable which had a huge effect on lowering the overall price of the crypto. But if we look at the market situation has started to improve. Of course it will take time and other support to get back to normal as we hope for at least this December to be back at $20K.

[Sayeds56]

Bitcoin closed November price at $17.1k and started December at the same price based on UTC time update. Now Bitcoin is trading at $16.9k and was trading at $17,050 at 12:15 PM according to the CMC chart.

We are still waiting to see what will happen in December and the price of $17k is still a price that will hold on despite the difficulties in the market.
It is highly probable that the price will cross the $17k to be traded this week.

The best price range during december is $17K to $20K, I think that's more convincing than going down to find the lowest price. $17K will be support as bitcoin price strengthens in December so I think we will soon leave strong $16K support untouched.

However the FTX case will continue to impact the bitcoin price in the market for the rest of the year so the possibility of a rebound to $20K is hard to imagine. Bitcoin needs more support and trust after the FTX crash hit crypto, so it's taking a while to get back to $20K. But now that market conditions are looking much better than the start of the FTX crash, this is a positive.

The market is currently showing a positive movement even though the increase is still a small percentage of around 1.7%. I agree with you that $17K was price support in December.

The incident that happened to FTX was unavoidable which had a huge effect on lowering the overall price of the crypto. But if we look at the market situation has started to improve. Of course it will take time and other support to get back to normal as we hope for at least this December to be back at $20K.

The opening of Bitcoin market in green this morning after weekend, is definitely encouraging for market participants but we need to wait for opening of US market in the evening to see this positive trend continues and price is consolidated above 17K during the current week, then we might see Bitcoin moving towards 20K in coming weeks, if decaling trend in inflation continues in coming months.

[Baofeng]

Bitcoin closed November price at $17.1k and started December at the same price based on UTC time update. Now Bitcoin is trading at $16.9k and was trading at $17,050 at 12:15 PM according to the CMC chart.

We are still waiting to see what will happen in December and the price of $17k is still a price that will hold on despite the difficulties in the market.
It is highly probable that the price will cross the $17k to be traded this week.

The best price range during december is $17K to $20K, I think that's more convincing than going down to find the lowest price. $17K will be support as bitcoin price strengthens in December so I think we will soon leave strong $16K support untouched.

However the FTX case will continue to impact the bitcoin price in the market for the rest of the year so the possibility of a rebound to $20K is hard to imagine. Bitcoin needs more support and trust after the FTX crash hit crypto, so it's taking a while to get back to $20K. But now that market conditions are looking much better than the start of the FTX crash, this is a positive.

The market is currently showing a positive movement even though the increase is still a small percentage of around 1.7%. I agree with you that $17K was price support in December.

The incident that happened to FTX was unavoidable which had a huge effect on lowering the overall price of the crypto. But if we look at the market situation has started to improve. Of course it will take time and other support to get back to normal as we hope for at least this December to be back at $20K.

The opening of Bitcoin market in green this morning after weekend, is definitely encouraging for market participants but we need to wait for opening of US market in the evening to see this positive trend continues and price is consolidated above 17K during the current week, then we might see Bitcoin moving towards 20K in coming weeks, if decaling trend in inflation continues in coming months.

Last 24 hours, yeah it seems that we are waking in the right side of the bed, it's above $17k now.

So we feel good seeing it going green and the only thing that we can hope is the price sustaining this run and hopefully at least a good $17,500-$18k at the end of the week.

Positive sign indeed, at least though, everyone of us survived the first year of the bear market, and then we will have another one coming 2023, so we should all braced ourselves again.