Bottom of the Bear Market...let's accumulate!!

[thecodebear]

Alright folks, unless there is another major crypto company/protocol collapse, the bottom is almost certainly in and there is a good chance Bitcoin will start rising out of this bottom range in a few months.

So now is the time to accumulate if you haven't started yet!



Who's gonna be DCA'ing into Bitcoin this Winter and Spring while prices are still super low?

I managed to pick up 0.5 BTC last year but I started a bit early before LUNA even collapsed so I had an average buy-in in the $24,000s.
But now Bitcoin has been sitting solidly in the mid-teens for a while so super cheap Bitcoin is ripe for the picking!

I just picked up 0.1 BTC today with my trading profits during these first nine days of the year.
Hoping to add well more than 0.5 BTC to my long term stash by the end of the year. My goal is to add 1 BTC total between 2023 and 2024 before the bull market really starts cooking again.

For those of you still trying to build out a Bitcoin stash you can be happy with, including those of you trying to get up to being a whole-coiner, this will likely be the last year you can make significant progress on that as it'll start getting real hard to accumulate tenths of a bitcoin when the price is mid five figures, high five figures, and in the six figures.

Who is accumulating and how much are you hoping to add to your stash this year?

[Fundamentals Of]

There is indeed a little recovery seen for the past day or two. The $17,000 resistance was successfully broken. It seems Bitcoin is holding on to it for hours already. But there is no guarantee that this is a sign that Bitcoin is now going to recover. There is reason to believe that this could just be a bear trap. It is very possible that hours from now the price would just go back to the $16,000 level. But I couldn't care less. This is a bear season and this is a good time to stack more.

[TrustedBitcoiner]

my best guess is that there is 4-6months of sub 20K
fantastic time to DCA.

[mk4]

We just had like 10 days of up market then suddenly people are this bullish already. Probably calm down a bit with the over-bullishness lmao.

[adaseb]

The accumulation phase isn’t this quick. It was quick in early 2019 by a few months. It started to crash in nov 2018 and didn’t bottom until dec 2018 and traded sideways for many months until April when it finally exploded upwards.

However in 2015 it was worst. It peaked in late 2013 and 2014 was a bear market which bottomed in Jan 2015 and then for most of the year it traded sideways. Many just quit crypto out of pure boredom. And who knows 2023 might be exactly the same.

[thecodebear]

Just to be clear I wasn't saying anything about bullishness. I wasn't talking about the pump in the market the past day or two leading to things moving up now.

Not sure where 'Fundamentals Of' and 'mk4' got that idea from lol. I literally said I expect Bitcoin to break out of the bottom in a few months, aka not anytime soon.



I was pretty much saying the opposite of over-bullishness lol. I expect the bottom to persist for a few more months which makes this Winter and likely into the Spring a fantastic time to accumulate at the bottom.

I was talking about accumulating this year, and especially at super low prices while the market is still at the bottom over the next few months.



Now is the time to accumulate precisely because the market isn't at all bullish, but rather it is grinding along the bottom of the bear market. This is exactly when people should be accumulating! Not sure how those two commenters got my message so wrong haha  

[TrustedBitcoiner]

We just had like 10 days of up market then suddenly people are this bullish already. Probably calm down a bit with the over-bullishness lmao.

you know your at the bottom when you suggest price will Not move more then 15% up for the next 4-6 months, and some how your labeled as a "over-bullish".

[thecodebear]

The accumulation phase isn’t this quick. It was quick in early 2019 by a few months. It started to crash in nov 2018 and didn’t bottom until dec 2018 and traded sideways for many months until April when it finally exploded upwards.

However in 2015 it was worst. It peaked in late 2013 and 2014 was a bear market which bottomed in Jan 2015 and then for most of the year it traded sideways. Many just quit crypto out of pure boredom. And who knows 2023 might be exactly the same.

Yup, I experienced both of those. Never know how long a bottom will be. 2019 the bottom was only about half as long as 2015. Hey I was one of those who quit in mid-2015 thinking Bitcoin had run its course. Only realized Bitcoin was here to stay and is the future once I saw it had fully recovered and was back over $1000 in early 2017.

As far as this bottom goes, well the $15k bottom has only been in for two months since FTX, but Bitcoin has generally been in the teens and low 20s since what...July? That's half a year now. I do think FTX set the market back a few months, and looking at macro stuff, I wouldn't expect the bottom to be over and for Bitcoin to start grinding its way back up to $25k and beyond until late Spring or early Summer. Hence the thread: it's accumulating time!!! Bitcoin has solidly defended the lows from the FTX collapse for the past two months so things look fairly safe from going to new lows unless there is another major industry collapse - and since last January the only time Bitcoin has hit new lows is when there is some major industry collapse (LUNA, Celsius, FTX). And if it does go lower....great, that means slightly cheaper Bitcoin and probably even more time to accumulate!

Bitcoiners likely have several months, maybe even like half a year, to accumulate now at super low prices. And this should be the last time that it is fairly easy for those with some disposable income to accumulate on the order of tenths of a Bitcoin. By next bear market people will be scraping together just a few hundredths of a bitcoin at a time. So for those people who are gradually working on becoming whole-coiners, accumulating this winter and spring is absolutely crucial to achieving their goal!

[thecodebear]

We just had like 10 days of up market then suddenly people are this bullish already. Probably calm down a bit with the over-bullishness lmao.

you know your at the bottom when you suggest price will Not move more then 15% up for the next 4-6 months, and some how your labeled as a "over-bullish".

hahaha exactly. I was very confused how they took my post as being about bullishness lol.

[TrustedBitcoiner]

The accumulation phase isn’t this quick. It was quick in early 2019 by a few months. It started to crash in nov 2018 and didn’t bottom until dec 2018 and traded sideways for many months until April when it finally exploded upwards.

However in 2015 it was worst. It peaked in late 2013 and 2014 was a bear market which bottomed in Jan 2015 and then for most of the year it traded sideways. Many just quit crypto out of pure boredom. And who knows 2023 might be exactly the same.

2015 was in the bottom range for 9 months
assuming we hit bottom 2months ago, there's 7 months to go.
not sure why everyone is expecting a prolonged winter.

[mk4]

you know your at the bottom when you suggest price will Not move more then 15% up for the next 4-6 months, and some how your labeled as a "over-bullish".

hahaha exactly. I was very confused how they took my post as being about bullishness lol.

"the bottom is almost certainly in and there is a good chance Bitcoin will start rising out of this bottom range in a few months."

That is almost certainly(though debatably) overly bullish in this current market condition; and no, a sideways chop definitely doesn't mean we're at a market bottom lol.

[TrustedBitcoiner]

you know your at the bottom when you suggest price will Not move more then 15% up for the next 4-6 months, and some how your labeled as a "over-bullish".

hahaha exactly. I was very confused how they took my post as being about bullishness lol.

"the bottom is almost certainly in and there is a good chance Bitcoin will start rising out of this bottom range in a few months."

That is almost certainly(though debatably) overly bullish in this current market condition; and no, a sideways chop definitely doesn't mean we're at a market bottom lol.

Oh i get it our conservative price estimates seem overly bullish too you because you're overly bearish

[bittraffic]

Regardless of whether it bottomed already or not, BTC price had gone from its ATH to its lowest with more than -60%. When your goal is to hold til the bull run, it's a good time to buy. DCAing will work as long as you plan for the long term.

Who is accumulating and how much are you hoping to add to your stash this year?

I'm hoping to at least hold my 0.025 and keep earning. 
Luckily you got 0.6BTC now. Now only people with considerable good income can buy that amount out of their pocket. 

[Edwardard]

We just had like 10 days of up market then suddenly people are this bullish already. Probably calm down a bit with the over-bullishness lmao.

Imo, OP is being bullish at the right time. There is a bullish divergence on weekly, we can pump to 20k+ in just one good trading week. Also, I saw overly positive funding on bybit a few days ago (at 16.5k) which was quite surprising but maybe that was the secret smart market makers accumulating serious longs at the bottom since the price only went up after that. There is something cooking inside for sure.
Ref:

[Fara Chan]

I just picked up 0.1 BTC today with my trading profits during these first nine days of the year.
Hoping to add well more than 0.5 BTC to my long term stash by the end of the year. My goal is to add 1 BTC total between 2023 and 2024 before the bull market really starts cooking again.

Congratulations on the success and luck you have had in the last few weeks/days, Targets and forecasts are quite good for perfecting your Bitcoin assets, I describe you are fighting for your goals to own Bitcoin assets with a target of 1 Btc, very good and worthy appreciation to follow. regarding the problem of the bottom / bottom of Bitcoin during this bearish period, it is better for us to go to the steps to collect.

Now that the Btc market has broken past $17k and we look forward to this recovery continuing to move upwards so that the bull market will take over this bear market, on this occasion we are still consistent in collecting and continuing to hold Bitcoin Assets.

[Outhue]

There is a chance that something bad could happen again, do not be so sure of your point OP, but we should be fine if we don't go all in, who would have thought that Covid 19 will make crypto create a new all time low in 2020? I am not saying the something will happen again but anything is possible.

I will keep using dollar cost average strategy till 2024, I advice everyone to do the same.

[Oshosondy]

There is a chance that something bad could happen again, do not be so sure of your point OP, but we should be fine if we don't go all in, who would have thought that Covid 19 will make crypto create a new all time low in 2020? I am not saying the something will happen again but anything is possible.

I will keep using dollar cost average strategy till 2024, I advice everyone to do the same.

I do not believe COVID-19 caused anything, what caused 2018 and 2019 bitcoin lowest price? I see 2020 low price to be normal, that it is about how the market is volatile and nothing more than that, but because the virus pandemic was around the time, people said it is the pandemic that caused it.

Dollar cost average is good, but now is also good because likely the price of bitcoin is low already, let us expect the price to increase, but this will not be an increase that will result to ATH.

[MarjorieZimmermanGinger]

Alright folks, unless there is another major crypto company/protocol collapse, the bottom is almost certainly in and there is a good chance Bitcoin will start rising out of this bottom range in a few months.

So now is the time to accumulate if you haven't started yet!

There are concerns that inflation and recession will affect the course of the world economy, giving rise to several assumptions from observers that this will affect bitcoin, but if you look at Covid-19 and the economic impact in 2019 to 2021, bitcoin is not completely affected by that situation and even in 2021 bitcoin hit the highest ATH. We think now is the right move to collect bitcoin, before resistance sets in this year, so that we can take advantage of maximum return opportunities.

Therefore, it seems that this year bitcoin will experience a gradual recovery, although it is not certain in which month. If following the four-year scheme, it should be this year that bitcoin starts showing a gradual recovery before hitting the next ATH.

[traderethereum]

I'm still trying to collect more bitcoins until now.
I want to keep collecting it until the price starts increasing to at least $30k and then I'm going to stop and look at the situation again.
We also have to see how long we can continue to buy bitcoins because we also have to look at our situation and financial condition.
And remember never to use money you can't afford to lose because that is the basics of investing.

[Dickiy]

For price movement it is true that it is starting to improve so many people speculate that there will be a bull run in the near future and some are still holding fast that the bitcoin price has not yet reached the bottom price in the current cycle, for short-term investors it may be very important to know what price predictions will be happen, but if you ask long-term investors, especially if they have experience, I don't think they will be affected by price predictions that may not be their target this year.
My Bitcoin collection is still relatively small because the DCA that I did is still relatively new and the money I save is still relatively small, so I'm embarrassed to mention it again, but I have a target this year to have the success of collecting 1-3 bitcoins.