Is the $17,000+ bitcoin price breakout benchmark to new price direction

[Wiwo]

If we become so excited at this point, what happens when we reach the 20k to 25k market price which is very much expected before the halving cycle that is somewhere around 2024?
Anyways it's not bad to point out any significant movement in price and bitcoin reaching 17k at this moment and that os something we should be grateful for that and except much more market changes that will favour most investors that bought Bitcoin at its lowest price during the bear market around 16k. In the best possible spirit,  this should be a time to buy more Bitcoin and not to cash out the dust profits that have been accrued from thos present price increases.

[bitzizzix]

If we become so excited at this point, what happens when we reach the 20k to 25k market price which is very much expected before the halving cycle that is somewhere around 2024?
Anyways it's not bad to point out any significant movement in price and bitcoin reaching 17k at this moment and that os something we should be grateful for that and except much more market changes that will favour most investors that bought Bitcoin at its lowest price during the bear market around 16k. In the best possible spirit,  this should be a time to buy more Bitcoin and not to cash out the dust profits that have been accrued from thos present price increases.

The increase in bitcoin to 17K is a good thing and I hope that the price of bitcoin does not return to 16K, because at the moment the price of bitcoin is still struggling to move above the 17K price area and it is hoped that this area will now become a support that will determine the price of bitcoin will continue to rise gradually .
and currently the bitcoin price is still a good option to collect more bitcoin before the bitcoin price goes up, and if the bitcoin price returns to 16K price there is no need to worry and keep buying for the long term.

[OgNasty]

I'm usually not big on "breakouts" or judging price movement by small movements in one direction or another.  However, it is definitely felt that BTC was so stable for months and then suddenly started melting up above $17K.  Especially with all of the exchanges out there scrambling to try and secure customer funds and the GBTC fiasco or whether or not they have the claimed funds...  It feels to me like this is the start of another bull run.  I'm sure we'll see at least one major correction on the way to new highs, but I think this entry point will be looked back upon fondly for those who buy now.

[indah rezqi]

There has been no real significant price movement in the last few days even though the actual dollar value of my asset estimate has increased by a few percent. I'm happy to say $17K became new support in January, but I don't think it will be very strong if the selling pressure remains too high. A fresh start to price recovery is always to be expected, and we may find out if this $17K actually holds out over the next few days.

and currently the bitcoin price is still a good option to collect more bitcoin before the bitcoin price goes up, and if the bitcoin price returns to 16K price there is no need to worry and keep buying for the long term.

I wasn't affect by this small increase, and I wasn't thinking too much about a possible correction either. So both directions are necessary, and it would probably be nice if by mid year I had managed to accumulate a lot of bitcoin for under $20K.

[suzanne5223]

The Bitcoin market positive trend was an amazing move by the market but it's too early to have the impression that the market bullish is back and I think we have to wait to confirm the trend the market will showcase next week to be sure since the market always makes some bullish trends just to compliment the bearish market. Although the bullish market will start this year but not in the first or second quarter.
What I am saying is that this could be a bull trap.

[_BlackStar]

It looks like $18K will break through again in the near future, which is evident from how the cash flow into bitcoin has been very strong so far. The increase in interest in bitcoin may be due to adjustments in The FED's interest rates or some things other, but that is only a factor that will have little or no effect on demand.

I don't expect super significant increase earlier this year, but a small increase like this should have made some people smile. Hmm, I'd love to see how $20K get break during January, that's becoming very likely.

[goaldigger]

The Bitcoin market positive trend was an amazing move by the market but it's too early to have the impression that the market bullish is back and I think we have to wait to confirm the trend the market will showcase next week to be sure since the market always makes some bullish trends just to compliment the bearish market. Although the bullish market will start this year but not in the first or second quarter.
What I am saying is that this could be a bull trap.

Not a bull trap but can be consider as a small pump and a preparation for the real bull trend.
Its also good to see altcoins following the pump of Bitcoin, this is a good sign but yeah too early to celebrate. If there’s another pump that can actually reach the price of $20k, then we might start this year on a better trend. Its good if you are able to bought at a cheaper price, bull is about to come.

[STT]

12th Jan we have major data arrive and that might change the whole market mood.    At the same time chart wise we meet possible resistance, I dont know this is actually going to halt us at all but arriving here just in time to match news occuring is serendipitous for that whole speculative play.   We've expanded range anyway because we were stuck quite tightly in a range for like near 2 months.
YTD4hr

[suzanne5223]

The Bitcoin market positive trend was an amazing move by the market but it's too early to have the impression that the market bullish is back and I think we have to wait to confirm the trend the market will showcase next week to be sure since the market always makes some bullish trends just to compliment the bearish market. Although the bullish market will start this year but not in the first or second quarter.
What I am saying is that this could be a bull trap.

Not a bull trap but can be consider as a small pump and a preparation for the real bull trend.
Its also good to see altcoins following the pump of Bitcoin, this is a good sign but yeah too early to celebrate. If there’s another pump that can actually reach the price of $20k, then we might start this year on a better trend. Its good if you are able to bought at a cheaper price, bull is about to come.

The story seems to have been after the incoming news of the El Salvador government taking their Bitcoin legalization to another peak by signing into law the Bonds that support all cryptocurrencies.
Therefore, this current price surge could be the preparation for anything but we will definitely know if it's for the bull trend in the next few days.

[buwaytress]

If we become so excited at this point, what happens when we reach the 20k to 25k market price which is very much expected before the halving cycle that is somewhere around 2024?

Heh, remember, this subforum was full of threads of "17k" and "18k" already over the last few months? There's always someone to get excited over any arbitrary number.

Not that I'm unhappy over the last couple of days. Think it's a pleasant surprise. Only we've still got to watch out for CPI and rate hikes again -- remember the market dived despite Fed not actually doing anything more than expected.

[Nrcewker]

Bitcoins crossing 17k usd have really made many crypto investors excited. Yes as op mentioned, it might be the start of the new price high range. Right now the thing that is required is just fuelling up the price with enough demand. If now more people will try to buy more Bitcoins, then due to the limited supply of the coins, the price will increase. Still anything can happen, but currently Bitcoins have increased a lot. It’s a positive sign to be honest. Next week will be definitely crucial for the Bitcoins. Let’s hope for the best.

[Frankolala]

17k+ is a good sign that there will still be increase in the run of this year,this is a great improvement for bitcoin movement and investors will be expecting more rise of price. I woke up this morning to check and bitcoin price has moved up to 18k,which hasn't happened since the past three month,this shows that there is hope for the price to get up to 20k this year.

Don't be excited by the little increase in price and think it's the time to start trading your coin,instead keep hodling more bitcoin because the halving circle is still yet to come.

[Ryu_Ar1]

17k+ is a good sign that there will still be increase in the run of this year,this is a great improvement for bitcoin movement and investors will be expecting more rise of price. I woke up this morning to check and bitcoin price has moved up to 18k,which hasn't happened since the past three month,this shows that there is hope for the price to get up to 20k this year.

Don't be excited by the little increase in price and think it's the time to start trading your coin,instead keep hodling more bitcoin because the halving circle is still yet to come.

I'm actually still not too sure about this, this could be a bull trap. The previous CPI prediction was 6.5% but the current figure already shows 7.1% which of course there is a 0.6% gap which actually I feel when talking about 0.6% inflation is quite big.
There is always a possibility of going up if this is indeed not above the previous CPI prediction this possibility will be bullish even up to $ 19k even if the increase continues it could reach $ 21k but if other possibilities regarding bitcoin fall I don't think I will be too surprised to see them back to $16k price.

[coolcoinz]

I'm not excited at all since we're still below 20k. I had high hopes for bitcoin in 2021, but that was until we broke the historical ATH to the downside and did not bounce back, like we like to do when the low point is temporary. Anything below 20k is a tragedy for the price, for miners and the whole industry.
I'm still a holder and I know bitcoin will be above 100k one day, but since we fell lower than expected, we could argue that the lowest in the last 10 years when it comes to moving averages, I don't expect anything big to happen before the halving. It's going to be great if we go back to 25k this year, but that's probably all she's got.

[SirLancelot]

The Bitcoin market positive trend was an amazing move by the market but it's too early to have the impression that the market bullish is back and I think we have to wait to confirm the trend the market will showcase next week to be sure since the market always makes some bullish trends just to compliment the bearish market. Although the bullish market will start this year but not in the first or second quarter.
What I am saying is that this could be a bull trap.

Not a bull trap but can be consider as a small pump and a preparation for the real bull trend.
Its also good to see altcoins following the pump of Bitcoin, this is a good sign but yeah too early to celebrate. If there’s another pump that can actually reach the price of $20k, then we might start this year on a better trend. Its good if you are able to bought at a cheaper price, bull is about to come.

I don't think there will be a bull run this year so I agree with him that this can be a bull trap therefore we must be careful about it but I think pro-crypto peeps aren't entering a moving train. They know how risky it was and usually the only ones that does that are the newbies.

There are some who aren't really a newbie but they are just too weak. They come here once the positive trends come back and then they'll leave once it diminish. The price is already at a newer direction by the time it heads to $17k but we don't know what can come next. $17k might be our latest support from now on and it might stay there for a good amount of time.

[boyptc]

I'm not excited at all since we're still below 20k. I had high hopes for bitcoin in 2021, but that was until we broke the historical ATH to the downside and did not bounce back, like we like to do when the low point is temporary. Anything below 20k is a tragedy for the price, for miners and the whole industry.
I'm still a holder and I know bitcoin will be above 100k one day, but since we fell lower than expected, we could argue that the lowest in the last 10 years when it comes to moving averages,

I've read an analysis that we'll never go back under $16k or $15k. The highest that I've seen so far for this sudden increase is $18,700 and it has broken the resistance of those analyses that I've seen.

I don't expect anything big to happen before the halving. It's going to be great if we go back to 25k this year, but that's probably all she's got.

Yeah and I'm expecting things will be better after the halving.

There's still a long way to go for this year and the positivity of the situation is increasing and bitcoin is doing better than of last year.

What could be the reason for the sudden pump?

[_BlackStar]

What could be the reason for the sudden pump?

Don't know the exact reason, but I don't think this was sudden pump, but I have seen bitcoin getting stronger since early January. For now, the price has broken through $19K and it is very possible to break $20K in few days. This has convinced me that the lows have been passed and it is time for recovery.

Pay attention to this data, I can say that bitcoin is a good tip from January 1st to now based on this, and Complete data can be seen at: Coingecko

[Raflesia]

I'm not excited at all since we're still below 20k. I had high hopes for bitcoin in 2021, but that was until we broke the historical ATH to the downside and did not bounce back, like we like to do when the low point is temporary. Anything below 20k is a tragedy for the price, for miners and the whole industry.
I'm still a holder and I know bitcoin will be above 100k one day, but since we fell lower than expected, we could argue that the lowest in the last 10 years when it comes to moving averages,

I've read an analysis that we'll never go back under $16k or $15k. The highest that I've seen so far for this sudden increase is $18,700 and it has broken the resistance of those analyses that I've seen.

Several possibilities can still occur but seeing the current conditions they are already at $ 19k actually they are quite strong and it could be if the increase continues $ 21k is still possible if you look at the current resistance but on the other hand this is also a little complicated because we know this condition occurs because there is some pretty good news and we also know that sometimes bad news can come suddenly amidst conditions like this.

[Piesel]

What could be the reason for the sudden pump?

Don't know the exact reason, but I don't think this was sudden pump, but I have seen bitcoin getting stronger since early January. For now, the price has broken through $19K and it is very possible to break $20K in few days. This has convinced me that the lows have been passed and it is time for recovery.

Pay attention to this data, I can say that bitcoin is a good tip from January 1st to now based on this, and Complete data can be seen at:

Bitcoin is going to break some level of doubt this period and haven't attained a $20k in this early time of the years is a pointer to how great this year 2023 will be for cryptocurency and Bitcoin especially.

There have been alot of buys in this period and most people buying Bitcoin now afe in for long-term basebecause their all preparing ahead for the Bitcoin halvimg time before selling so there is a ling way walk for Bitcoin in this year 2023.

[Marvelman]

Bitcoin is going to break some level of doubt this period and haven't attained a $20k in this early time of the years is a pointer to how great this year 2023 will be for cryptocurency and Bitcoin especially.

There have been alot of buys in this period and most people buying Bitcoin now afe in for long-term basebecause their all preparing ahead for the Bitcoin halvimg time before selling so there is a ling way walk for Bitcoin in this year 2023.

It is difficult to predict what will happen with the price of Bitcoin in 2023. The value of cryptocurrencies can be highly volatile, and it is influenced by a wide variety of factors. However, some people believe that the upcoming halving event in 2024 and increasing mainstream acceptance could lead to a significant increase in the value of Bitcoin in 2023. The future of Bitcoin in 2023 is like a rollercoaster ride, with the halving event as the booster rocket, only time will tell if it reaches new heights or crashes and burns.