The Start of a Bull Season on Bitcoin? Or a Trap?

[laurenB7742]

The Bitcoin price jumped from the ~$17k range to the ~$21k in the last 7 days. I'm not aware of any good news about Bitcoin, but the price seems moved so strongly, breaking its previous resistance.


It could be because the next year halving, but it seems too early. If the trend continues, Bitcoin price will break ATH later this year so it does not make sense IMO. Therefore, I don't think the pump can be sustained for too long and the price will soon drop to the ~$19k range and then the ~$17k range again soon. But who knows...

What do you think?

There's no real reason why Bitcoin is up these days, I think it's just a short-term bull run in crypto winter, I didn't think the bull season would come so soon, IMO. It is not necessarily a trap, as this gain is not enough to make people invest more or will believe that this is a sign of the bulls.
From what I have observed, the price of bitcoin is rising, but people appear to be very cautious with this bull run. We need more signals to be able to confirm if it is bullish or just a trap.

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[Sayeds56]

The Bitcoin price jumped from the ~$17k range to the ~$21k in the last 7 days. I'm not aware of any good news about Bitcoin, but the price seems moved so strongly, breaking its previous resistance.

It could be because the next year halving, but it seems too early. If the trend continues, Bitcoin price will break ATH later this year so it does not make sense IMO. Therefore, I don't think the pump can be sustained for too long and the price will soon drop to the ~$19k range and then the ~$17k range again soon. But who knows...

What do you think?

In my opinion, this is just a little market recovery it's a bit like a bull market, after the halving event then this will be the time of the real bull season, there will be 12 months of slow and steady growth and there will be a pullback soon but then we will see higher lows on each pullback and by next May in the halving event the price will be somewhere near the previous all-time high, then the halving event always changes sentiment leading to a proper bull market, Bitcoin should be 60-70k after the halving event. the recession is one thing but I believe it's not going to stop the bull market, especially if it starts mooning, which brings in a whole world of new buyers.

I think it is a start of the journey towards stabilization of crypto market, but this journey will not be smooth, and we will see many pumps and dumps during the current year. The reason behind this small recovery is, declining trend in inflation, falling crude oil prices and above all technical rebound because market was heavily oversold. We can't say anything with 100% certainty, but as interest rates are likely to stabilize in second quarter of current year, which can lead to further recovery & market may enter in bull cycle in the last quarter of current year. DYOR

[Ucy]

The Bitcoin price jumped from the ~$17k range to the ~$21k in the last 7 days. I'm not aware of any good news about Bitcoin, but the price seems moved so strongly, breaking its previous resistance.


It could be because the next year halving, but it seems too early. If the trend continues, Bitcoin price will break ATH later this year so it does not make sense IMO.....


What do you think?

No need to be surprised. It actually makes sense only that you were probably not following the prediction I made after late last year dump. You can find it here: https://bitcointalk.org/index.php?topic=5420066.msg61262772#msg61262772
Then when the time was right early this month, I signal here:
https://bitcointalk.org/index.php?topic=5433102.msg61552353#msg61552353
I expected everyone to believe and follow the signal but not everyone was interested. When things started moving against people's expectations they were shocked or surprised.

If You have been following my prediction(which are unconventional) , you will understand that my yesterday post/view wasn't very positive. And the market responded accordingly.  The market actually reacts to people's emotions. If you are more influential you will have more effect on the price.
Note that being influential is not equal to your forum ranks or number of merit you have. Even a very honest newbie with zero merit who understands Bitcoin properly and hold strongly to its principles can have strong effect on the price when he says something concerning Bitcoin/crypto.

I predict that the price will continue to move up until what is predicted in the first link above is fulfilled, and then Bitcoin temporarily won't be supported emotionally. Do not doubt this. You may verify before you believe.

[OnZen]

now the price is dropping dramatically, yesterday it had reached a high of $ 21,400. The market is also getting saturated, already overbought, so it's time to go down and try to go down to the nearest support. gradually the price continues to fall and if it passes $20k it will continue towards $19k.
The movement at the beginning of the year was indeed quite significant, but the correction that will occur will also be deeper. The halving is still a long way off and this year may be a year that doesn't have too much movement.

Is there any chance BTC Bitcoin dump under $10k before halving???

[Sayeds56]

now the price is dropping dramatically, yesterday it had reached a high of $ 21,400. The market is also getting saturated, already overbought, so it's time to go down and try to go down to the nearest support. gradually the price continues to fall and if it passes $20k it will continue towards $19k.
The movement at the beginning of the year was indeed quite significant, but the correction that will occur will also be deeper. The halving is still a long way off and this year may be a year that doesn't have too much movement.

Is there any chance BTC Bitcoin dump under $10k before halving???

It is difficult to predict with certainty what the price of Bitcoin will do in the short to medium term because crypto market is highly volatile, halving is generally considered a bullish event because decrease in Bitcoin reward leads to less supply of new Bicoins in the market.
However, the possibility of Bitcoin falling below $10,000 will depend on, rate of inflation, monetary policy of FED, state of world economy and introduction of new regulations by SEC to prevent FTX like disaster.

I think if Bitcoin stays above 19,500, then it is likely to make further gains in coming months, and won't fall below 10,000. DYOR

[salad daging]

now the price is dropping dramatically, yesterday it had reached a high of $ 21,400. The market is also getting saturated, already overbought, so it's time to go down and try to go down to the nearest support. gradually the price continues to fall and if it passes $20k it will continue towards $19k.
The movement at the beginning of the year was indeed quite significant, but the correction that will occur will also be deeper. The halving is still a long way off and this year may be a year that doesn't have too much movement.

Since the increase in the last week bitcoin has not decreased very drastically it is still trying to survive at the price level of $ 20,700 but I don't know if this is really a bull-trap or will continue to try at the same level but in terms of graphics bitcoin is still quite strong in $20,000 threshold.
Well I believe this correction will definitely happen but with the movement in 2023 it won't go more than ATH before we still haven't passed the halving in 2024 so maybe it will stay at the $20k or $30k level.

[el kaka22]

I believed that it is a beginning of a bull season, but looking at the situation right now, I have to say that there is a possibility it could be a trap as well. The reason why I am saying is that we are talking about a stagnant move right now. I mean normally if it was a bull run, we had 2 clear increases, first it went from 17 to 19, and then moved from there to 21. That is why it looked like it was a bull run, and I believed it would be like that, 23 and then 25 and so forth.

This is why it made sense for it to go further. However, now that we look at it, after it peaked at around 21k it started to look lower and it is not moving any higher which gives the feeling of a trap to be fair.

[imamusma]

It looks like the uptrend is not going to continue because if we look at the market movement today the bitcoin price has dropped back below $21k after a few days of rising in a row but if bitcoin can hold the $20k area firmly at this stage then there is a chance that the bitcoin price could crawl going back to $21k might even pass that price but to get there i think bitcoin is going to struggle because we're not in a bull market yet.

I only believe that the price correction in the last 24 hours is reasonable. Of course that is normal as this is part of the market recovery process after dropping to a low of $15.5K last year. Even though at the moment the bitcoin price has dipped below $21K, then I believe it is a good start to expect more increase. $20K is expected to be strong over January as support, and I think $25K is the next upside target for bitcoin in a month.

[darkangel11]

Have you seen the new price? It dropped hard a few hours ago as a result of some bad news about US law enforcement.

It dropped 3% - that wasn't a hard drop after it rose 20%. A 3% correction after something like that is completely natural. Also the news was manipulated FUD because a US law enforcement going after some Russian money launderer should be a joke, but the way the media and youtubers portrayed it, making a big deal out of the situation, caused people to panic. This only shows how nervous people are after over 15 months of bear market.

I believe the growth was natural and not manipulated.

I agree. Bitcoin returned to its fair price that we held before the FTX drama.

[Frankolala]

I don't think that the bear market is gone,that is why there is a drop in the price,if bitcoin hits the bull ATH no manipulation will drop the price because everyone will be eager to invest. The price pump was the recover of FTX $5B crypto assets which was somewhere.

US bad news led to little dump in price,I can't say if bitcoin will go below 17k as it is dropping gradually. The whales might have also planned all these,nobody knows what will happen next. Nobody knows the lowest price it will drop to in the bearish days.

[slapper]

The Bitcoin price jumped from the ~$17k range to the ~$21k in the last 7 days. I'm not aware of any good news about Bitcoin, but the price seems moved so strongly, breaking its previous resistance.



It could be because the next year halving, but it seems too early. If the trend continues, Bitcoin price will break ATH later this year so it does not make sense IMO. Therefore, I don't think the pump can be sustained for too long and the price will soon drop to the ~$19k range and then the ~$17k range again soon. But who knows...

What do you think?

It is definitely too early. $19k and then $15k in the next few months. As a trader and have been in the crypto world for many years, I can say that all of the signs are not convincing enough for a bullish. Think about it: Many months of a downtrend and suddenly bitcoin increase by 30% and people start to FOMO. Too good to be true. With the current hype of AI, I doubt that the cycle will happen this soon.

My plan is to way for bitcoin to go below $15k and I will buy some bitcoin and Solana. I believe in Solana, the technology seems promising and the community of developers seems to grow over years.

[wxa7115]

The Bitcoin price jumped from the ~$17k range to the ~$21k in the last 7 days. I'm not aware of any good news about Bitcoin, but the price seems moved so strongly, breaking its previous resistance.



It could be because the next year halving, but it seems too early. If the trend continues, Bitcoin price will break ATH later this year so it does not make sense IMO. Therefore, I don't think the pump can be sustained for too long and the price will soon drop to the ~$19k range and then the ~$17k range again soon. But who knows...

What do you think?

This is definitely not the start of a bull market, the best we could expect is for this to be the end of the bear market, but make no mistake besides a bullish or a bearish trend markets also remain in a ranging state for very long periods of time in which not much happens.

Now this could also be a bull trap but so far it seems the price is holding out and we may expect this balance to remain this way, now the balance could be broken by a negative or a positive news but if I were to guess it would seem to me a decrease in the price is more likely during the next days.

[Sayeds56]

The Bitcoin price jumped from the ~$17k range to the ~$21k in the last 7 days. I'm not aware of any good news about Bitcoin, but the price seems moved so strongly, breaking its previous resistance.


It could be because the next year halving, but it seems too early. If the trend continues, Bitcoin price will break ATH later this year so it does not make sense IMO. Therefore, I don't think the pump can be sustained for too long and the price will soon drop to the ~$19k range and then the ~$17k range again soon. But who knows...

What do you think?

There's no real reason why Bitcoin is up these days, I think it's just a short-term bull run in crypto winter, I didn't think the bull season would come so soon, IMO. It is not necessarily a trap, as this gain is not enough to make people invest more or will believe that this is a sign of the bulls.
From what I have observed, the price of bitcoin is rising, but people appear to be very cautious with this bull run. We need more signals to be able to confirm if it is bullish or just a trap.

Nobody can say with 100% surety that, current relief rally will sustain, or it is short lived But, according to many market analysts there are many reasons behind this rally which include, declining trend in inflation, weakening dollar index and technical rebound. I am afraid if FOMC (meeting scheduled on 31st January) announces interest rate increase again (50 basis points or more), market may fall again below 20K or even lower.

[Don Pedro Dinero]

The Start of a Bull Season on Bitcoin? Or a Trap?

My eyes are on what is going to happen in at least half a decade from now, the ups and downs of today don't matter much to me. Normally we all enjoy it more when the price goes up and breaks barriers, but bitcoin is a unique invention that is going to be more and more appreciated. Getting carried away by the short-term noise can lead you to do foolish things, such as selling when the price goes down for fear that it will go down further.

I think we will close 2023 in positive territory, but whether we go up or down in the coming weeks or months is of little importance to me.

I don't know where the price will be in 10 days time but I know that in 10 years time it will be up, much higher.

[btc78]

The Bitcoin price jumped from the ~$17k range to the ~$21k in the last 7 days. I'm not aware of any good news about Bitcoin, but the price seems moved so strongly, breaking its previous resistance.



It could be because the next year halving, but it seems too early. If the trend continues, Bitcoin price will break ATH later this year so it does not make sense IMO. Therefore, I don't think the pump can be sustained for too long and the price will soon drop to the ~$19k range and then the ~$17k range again soon. But who knows...

What do you think?

I stopped assuming anything to come instead I only rely on what is market moving . means that once my radius of price already attain? then i will either sell or buy and that is what I learned from this market over the years , never to become greedy and never to become stupid expecting too much and ending being a loser , I already missed many things and now i will find my prize in my investing strategy .

[btc78]

The Bitcoin price jumped from the ~$17k range to the ~$21k in the last 7 days. I'm not aware of any good news about Bitcoin, but the price seems moved so strongly, breaking its previous resistance.


It could be because the next year halving, but it seems too early. If the trend continues, Bitcoin price will break ATH later this year so it does not make sense IMO.....


What do you think?

No need to be surprised. It actually makes sense only that you were probably not following the prediction I made after late last year dump. You can find it here: https://bitcointalk.org/index.php?topic=5420066.msg61262772#msg61262772
Then when the time was right early this month, I signal here:
https://bitcointalk.org/index.php?topic=5433102.msg61552353#msg61552353
I expected everyone to believe and follow the signal but not everyone was interested. When things started moving against people's expectations they were shocked or surprised.

you cannot force anyone here to follow your prediction as it is clearly said , Prediction right? meaning there is no accuracy in there and you are just lucky to bring good sometimes.
actually I have been following you at some point specially when you are posting about God and Gambling but I find no credential on those so i believe that no one trusted you here and yes I know that you are also trying to gain but are you truly earning from your predictions?

[michellee]

The Bitcoin price jumped from the ~$17k range to the ~$21k in the last 7 days. I'm not aware of any good news about Bitcoin, but the price seems moved so strongly, breaking its previous resistance.

It could be because the next year halving, but it seems too early. If the trend continues, Bitcoin price will break ATH later this year so it does not make sense IMO.....

What do you think?

No need to be surprised. It actually makes sense only that you were probably not following the prediction I made after late last year dump. You can find it here: https://bitcointalk.org/index.php?topic=5420066.msg61262772#msg61262772
Then when the time was right early this month, I signal here:
https://bitcointalk.org/index.php?topic=5433102.msg61552353#msg61552353
I expected everyone to believe and follow the signal but not everyone was interested. When things started moving against people's expectations they were shocked or surprised.

you cannot force anyone here to follow your prediction as it is clearly said , Prediction right? meaning there is no accuracy in there and you are just lucky to bring good sometimes.
actually I have been following you at some point specially when you are posting about God and Gambling but I find no credential on those so i believe that no one trusted you here and yes I know that you are also trying to gain but are you truly earning from your predictions?

Everyone will try to analyze and not just follow other people's advice because even if that person is an expert, we must still try to find where he can get such an analysis. Of course, it will be useful for other people who want to learn to analyze because they can know how to analyze properly and correctly. But I wouldn't be surprised if the current price hike could turn into a bull trap, as I've seen before. Instead of being surprised, I will place a buy order at the bottom if the price ever goes down again. But the bitcoin price has stayed at the $20k-$21k level. And bitcoin will surely increase slowly.

[hugeblack]

The price did not head away from the bottom, and therefore there is no indication of future rises, but the most important thing is more confirming signs about the bottom of this cycle, which may remain $15,000 for a long time, and therefore it is unlikely in the future that Bitcoin will be at a price lower than these prices.

So, all that the recent rise tells us about is the strength of the bottom, so that it will not be broken except by an exceptional event, and it will not tell us anything about the top.

[Pierre 2]

I am following markets closely since this big jump happened. I feel like its too good to be bull trap. In bull traps demand would be inconsistent and unbalanced, making price fluctate a lot. But with this move, it felt like some people literally filled their wallets to get ready for greater bull run in next halving period. I think we will all realize if this was trap or not in next 45 days. I would bet my money on it being real start of bull run honestly. I can't say further increases will happen that soon as well, demand can be limited for such short time window. But people would be less interested in selling/shorting.

[cryptomaniac_xxx]

I am following markets closely since this big jump happened. I feel like its too good to be bull trap. In bull traps demand would be inconsistent and unbalanced, making price fluctate a lot. But with this move, it felt like some people literally filled their wallets to get ready for greater bull run in next halving period. I think we will all realize if this was trap or not in next 45 days. I would bet my money on it being real start of bull run honestly. I can't say further increases will happen that soon as well, demand can be limited for such short time window. But people would be less interested in selling/shorting.

Yes, and as far as I can understand in a bull trap, the increased will not last this long. But in our case, since the start of January, we are in a continues spike so just maybe we are not in a bull trap anymore. Maybe in the beginning, we have doubts that this could just be a trap set up by the bears.

45 days though is long enough to realized if we are in a bull trap or not, just saying.

Let's see how long can we sustained this run though, it's $21,500, now we are back into the $21'ish range again.