BTC rise described as false bull

[Lida93]

The gradual rise in the price of bitcoin as we started experiencing this January 2023 from around 17k to now 23k (as at when this thread was made), is been described by some traders as a false bull which everyone should be careful about, but then, I wonder how something we all have been expecting while approaching the year 2023 is now coming into play, yet some persons still feel it's a false bull, while some others are pulling in more money due to the bull signs of this January.  What do we think about this as a community here?

As for me, I believe profit in business comes with risk taking(calculative risk) whether long or short, all anyone should always hold to heart is don't risk more than you are ready to let go in the case of loss.

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[franky1]

bulls and bears are declared 6months after the fact... meaning its a retro active term..
much like inflation and recession are only officially announced 6 months after the up or down.

however people dont have patience and so they want to shout bull and bear too quick. thus when they get it wrong they say that it was a false bull..

actual fact is they were too impatient and want to call out things before the defined terminology meets its criteria

thus its the callers, shouters, screamers. with impatience that are the trap/false declaration .. not the market

people shouting bull or bear the day they see a rise or fall are just idiots

[mk4]

There will always be people that will think that certain price movements are caused by manipulation or whatever theory they could think of, regardless of direction; and it's mostly voiced out by people who missed out on pumps, or bought heavily before dumps.

[glendall]

it's too early to say bullish has come, I think the movement at the beginning of the year is the initial pump and new enthusiasm in trading at the beginning of the year after the market always declines, stay careful when investing, all risks are borne by the individual,

[Baofeng]

The gradual rise in the price of bitcoin as we started experiencing this January 2023 from around 17k to now 23k (as at when this thread was made), is been described by some traders as a false bull which everyone should be careful about, but then, I wonder how something we all have been expecting while approaching the year 2023 is now coming into play, yet some persons still feel it's a false bull, while some others are pulling in more money due to the bull signs of this January.  What do we think about this as a community here?

As for me, I believe profit in business comes with risk taking(calculative risk) whether long or short, all anyone should always hold to heart is don't risk more than you are ready to let go in the case of loss.

Whatever it is, false bull or false breakout, doesn't matter specially for those who are continuing to accumulate, and specially looking for long term investments. TA can do as much for us, but there could be time that it might break.

And remember that we are around this price prior to the FTX collapse, so I will say that we should be where we are months ago. The real bull market should happen though after the bitcoin halving, so that is still very far. So just continue to monitor the price and adjust your investment pattern. Or better yet, do DCA if you really want to buy bitcoin and HODL.

[Vaskiy]

There will be statements that were in favour as well as against the reality of the market. It is upto our understanding about the market, if we take it as bullish move we're positive about market. If the same is considered as a temporary move, then we should analyse further and one should not get into panic at any instance.

Whether the crypto is at the decline or on the bullish, we'll get opportunity to profit from the market variation. One need to keep himself active to book the profit. This let's the user enjoy criticism

[Wiwo]

What ratio of market movement have been met to declare a Bitcoin bull market, since the last bitcoin price direction cycle witnessed last is ba ear market which has consistently persisted over a period of 3-6 months in a row to make a complete an official Bitcoin bear market. What I can see in all this is just inpatient from bitcoin price, speculators who are just too quick to declare a market state so seeing that bitcoin touched $23,000 in the present time doesn't really mean much as long as the price has not persisted on an uptrend direction for a period of 3 -6 months to complete a full cycle.
What I will say about all this is that we should be more holistic in our analyzes and we should be ready to give some time before making any Bitcoin market predictions.

[hatshepsut93]

I wonder how something we all have been expecting while approaching the year 2023 is now coming into play, yet some persons still feel it's a false bull

Easy, Bitcoin community is very impatient and wants to become rich overnight. So people think every new year must be a bullish year. Despite the fact that historically the cycles are tied to halvenings and large bull run start after them and explode around 1 year after the halvening.

People need to learn to manage their expectations. Assets that go only up and fast and always don't exist. Assets that consistently go up do it slowly. Assets that go up fast also go down fast. Or eventually stop going up fast. It's already a miracle that after 14 years Bitcoin still shows tremendous growth.

[tjtonmoy]

Never listen to anyone while doing trades in crypto market. Even if they are saying different things, what does your analysis says about the market movements?
We know we are still in a bear market because we haven't crossed the threshold of the resistance level. If we break the level, only then we can say that this is the indication towards the bull run. And as you mention that everyone was expecting the pump from the beginning of this year, what if the bears are thinking the same and trying to put you in a trap?
So the safe decision is to do your own analysis to come up with the best possible outcome and if you are really thinking that this is a bull run, then why not just wait for the market to cross the level and then invest?
Greed is bad and leads to emotional decision. Every pro knows that. It will be a very interesting battle between the bulls and the bears to watch. Let's see what happens.

[Husires]

One of the signs that reassures me is that no one knows the reason for the recent rise.

After several attempts to break 18K levels, we did it easily, which means that something has happened, but its details have not been published yet, which means that in order to remain above these levels, we need a confirmation signal by staying close to ~23k to ~28k which is something the price continues to do.

What will happen if we do not continue to this extent? Simply, we will return to the support level at 18K, and we may continue until March.
Geopolitical changes and the global economy will severely affect the coming months.

[tokeweed]

it's too early to say bullish has come, I think the movement at the beginning of the year is the initial pump and new enthusiasm in trading at the beginning of the year after the market always declines, stay careful when investing, all risks are borne by the individual,

This.  With all the stuff that's going on around the world, we really can't say if the bull market is back.  If anything, we should be wary.  But if you guys bought the lows then just stay put and don't do anything.  To those who missed it and don't hold any, don't fomo and don't buy at resistance.  Big possibility you'll get trapped.  Just be patient as there's a whole year of buying opportunities coming.  

Then again if you're a pure 'hodler' you could just buy now and forget about it as it won't matter.

Edit:  How come there aren't any Chinese new year threads anymore?  Those were fun.

[PX-Z]

It's okay to be bullish just be wary and remember that every time market could go down again so your sell order price is already ready. But this only applies if you are trading regularly. Holders doesnt bother for such increase or decrease later on.

[Kelvinid]

Until now, many people still don't understand the volatile nature of the market, and they got crazy finding reasons why the price was pumped or why it dump.  Why can't just think it was the nature of the market, not a manipulation? Honestly, it was not really the time to see the market in Bullrun, we can't expect such a fast recovery at all. The price, of course, will change because of the changing in demand and supply. People are buying which naturally increases the price, yet it was temporary.

[goaldigger]

As for me, I believe profit in business comes with risk taking(calculative risk) whether long or short, all anyone should always hold to heart is don't risk more than you are ready to let go in the case of loss.

There is always risk and many are still hesitant because they are afraid to make mistakes especially when they will buy during this pump because this can still be a trap not unless there’s already a confirmation about the up trend. There are ways to make profit out of this and it takes a lot discipline. Its good to be more positive about the trend, just stay within your limit and be more realistic, don’t be greedy when it comes to profit taking.

[autumnleaf]

I'm curious how they can claim that the quick spike in the price of Bitcoin is false bull. The abrupt ups and downs in price are normal because everyone is aware of how volatile the cryptocurrency market is. We are unable to say with certainty whether we are currently in the bear season or the bull season. In any case, let's enjoy the benefits of our current profit.

[Don Pedro Dinero]

Those who say that think too much in the short term. If you're going to hold the bitcoin you have until 2030 at least, you're not thinking about whether it's going to go back down to 17,000 in the next couple of weeks. I think we will end this year in positive territory and after the next halving we will reach at least 100,000. As a scarce resource, it is worth accumulating and forgetting about short-termism.

[Silberman]

The gradual rise in the price of bitcoin as we started experiencing this January 2023 from around 17k to now 23k (as at when this thread was made), is been described by some traders as a false bull which everyone should be careful about, but then, I wonder how something we all have been expecting while approaching the year 2023 is now coming into play, yet some persons still feel it's a false bull, while some others are pulling in more money due to the bull signs of this January.  What do we think about this as a community here?

As for me, I believe profit in business comes with risk taking(calculative risk) whether long or short, all anyone should always hold to heart is don't risk more than you are ready to let go in the case of loss.

It is too early to tell either way, however I suppose those which claim this is a fake bull run or a bull trap do it for several reasons, the first one is the bull market is not really expected to come until much later so they think the timing is wrong, another reason is simply about probabilities, as there are many more fake bull runs than real ones, so they simply estimate this growth in the price is temporary and at some point the bears will retake control of the market.

[adaseb]

I think many are expecting this to be like April 2019. Where we did bottom and rallied non stop for a couple months before touching $12K and then the mini bubble popped again.

Hence why many think we are in an echo bubble. Basically when we breach $30K, many will buy because they will think ATH is near and the bubble will burst again before completing a year or two later.

[bittraffic]

I think because the chart tells something. In the daily chart, it already says it can't sustain this sudden rise. It has to really dump to give room for another week of a green candle. Or it could pump again up to $25k-$30k before the dump which means another few weeks of waiting again for the bulls to come.

One trader said on his youtube that it's not a healthy market when the price goes up all the way for 2 weeks. This is based on his experience.

[CageMabok]

The gradual rise in the price of bitcoin as we started experiencing this January 2023 from around 17k to now 23k (as at when this thread was made), is been described by some traders as a false bull which everyone should be careful about, but then, I wonder how something we all have been expecting while approaching the year 2023 is now coming into play, yet some persons still feel it's a false bull, while some others are pulling in more money due to the bull signs of this January.  What do we think about this as a community here?

For me the increase that occurred at the beginning of this year in January was not a fake bull because it was based on an increasing number of requests in the market so that Bitcoin increased slowly. Fake bulls can indeed be created by a group of people but I don't think that it is being created now because I think the increase now is a very clear and genuine thing from the demand that is in the market.

If indeed the Bitcoin boom thing is now to be dismissed as a sham, why is the price drop always considered to be so genuine? Meanwhile, decreases and increases always occur in the market over time every year. So it wouldn't be logical for upgrades to be seen as fake now even though some people already think it's fake, but I don't care what other people think of this.