Will we see repeat of 2017 or new trend?

[kentrolla]

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

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[Wiwo]

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

2017 was a cryptocurrencies market year and that year mark the beginning of a remarkable shift from what used to be the narrative of the market before then and how it was able to change a lot of investors who dived into the market before that time. 

But what makes that point different from the current trend is the anticipated bitcoin haven that is around the corner which is expected to happen around match April next year and that can also change a lot of things in the market for Bitcoin.

[ajiz138]

I look at the previous data between 2017 and 2021 in December it was the peak where ATH occurred on bitcoin, so indeed the month of December has an important bullish and bearish event pattern.

I don't think we're going to see a bear market now because it's already passed, if you refer to previous data bearish will occur after the halving whereas now the halving is getting closer and the month of December is now usually not going to be bearish instead what I see this being a leap will be the same as the previous cycle.
Like this will not be much different but I'm not sure now witnessing bearish again.

[cryptomaniac_xxx]

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

I mean that is supposedly the cycle is right? 2017 bull run, then followed by the bear market. So the pattern continues so not sure what you new trends are seeing here. So 2023 is pre-halving year, next year we will have the catalyst for the next bull then it might continue up to 2025.

So yeah, this is not a full pledge bull run, it's that investors are trying to push for a good price at least at the end of the year and again, for the preparation of a bitcoin block halving. So there's no new pattern, just the normal cycle that we have been seeing.

You can look the data in here:



https://www.coinglass.com/today

[Jating]

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

2017 is a bull run year, you are correct. 2021 November was also a bull run year and we reach all time high as well. But what triggers this massive increased that we are seeing right now that everyone thinks that we are in a bull run is obviously the news about Spot Bitcoin ETF approval. We haven't heard or seen this in the previous years that's why December right looks very bullish.

As for the price correction who knows, the real test is that what will happen after the block halving next year in April? Will we see the pattern repeat again in 2024, that this is going to be huge rally and then seeing the price in 2025 to be at the 6 digits? For me this is a big possibility and that the pattern will not break.

I think there was a discussion about this, they call it super-cycle like 2 big cycles that is going to happen before all time high, but I disagree to that theory.

[mirakal]

No one really holds the future of bitcoin, not even Satoshi itself. What happened last 2017 was a legend, as everyone did not expect that bitcoin will suddenly reach an all time high and those who have taken advantage of the bull season might have gained life changing profits and have been living comfortable lives these days. My point is, everything will still be possible with the current position of bitcoin. Who knows actually, as bitcoin is really positive these days and it's not impossible if we can see an early ATH since there are also no negative news that affect the market.

However, there are also chances that we will see the opposite from 2017. The market is so much unpredictable. We can see bitcoin on the top these days, but after tomorrow, I guess we will witness another price then.

[Baofeng]

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

And why would we see bear market now when we haven't had a new all time high? Remember that the last all time high is around $69k 2 years ago November 2021? So it doesn't make sense that a new pattern will emerge. Maybe this is just new for us because of the effects of the supposedly SEC imminent approval of Spot ETF and so everyone FOMO this last quarter of the year.

So I'm not seeing a major price correction that will trigger bear market for this month. Maybe just some minor decline, but I think the bulls are going to push the price to as close as $45k to $50k target this December. Which means the bullish sentiments of investors are at a high right now.

[bestcoins1]

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

We probably won't see a big correction in the next few days or at this time, because even if there is a price correction in Bitcoin it won't immediately look like a bear market. I am more confident that this time there will be a difference with what happened in 2017 in Bitcoin even though I also haven't thought about the ATH that will happen directly this month because it is more unlikely that it will happen.

And for the increase in altcoins that is now starting to be seen, this is only because there is still the effect of the increase in the price of Bitcoin, causing the urge to buy more in some of the better cryptocurrencies after many people saw Bitcoin starting to increase its price this month.

[Lanatsa]

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

I mean that is supposedly the cycle is right? 2017 bull run, then followed by the bear market. So the pattern continues so not sure what you new trends are seeing here. So 2023 is pre-halving year, next year we will have the catalyst for the next bull then it might continue up to 2025.

So yeah, this is not a full pledge bull run, it's that investors are trying to push for a good price at least at the end of the year and again, for the preparation of a bitcoin block halving. So there's no new pattern, just the normal cycle that we have been seeing.

You can look the data in here:



https://www.coinglass.com/today

We can really be able to tell that there's no one that could be able to predict on what the future looks like although we can see some patterns but doesnt mean that it would be a guarantee that it would be able to do the same thing on the upcoming months or years to come. At least having these kind of charts will really be telling us that there's really a significant pattern but there are people who dont believe on patterns
on which it is true because no one really knows on what would happen ahead whether it would really be following on the same path or not. Thing here is that we are going near with the halving event and it is really just that there are people who are really that being too positive on the things that we've been doing specially on accumulating on the coins that we are believing that it would really be shooting up its price
when bull run hits. Although it is really just that too early considering it would be on 2024 Q4 - 2025 the rest of it then it is really that too far off. For me then im waiting for the last dump or correction into the market on which i have been that trying out to save up some USDT for me to be able to get in when that time comes. If ever there's that last dump then it would be an advantage for me, but if there's none
then for sure you would really be losing that bull run train again. 

[royalfestus]

There are some reasons why I doubt the 2017 trend will be different; Bitcoin was much cheaper at that time than it is now -- $900-$20,000 -- so it was easy for the coin to have an enormous pump all at once. When the last bull run started, it took a long time to pump and many corrections before it reached its peak. A difference from 2017 is that this started before the halving took place. I feel the trend this time is likely going to be like the 2021 with similar regular correction while it climb and no one will be able to know when we get to the peak for weeks untill the dip hard

[Zaguru12]

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

this year last quarter is different with that of 2017 because that year was actually a year after the bitcoin halving had occurred which was in 2016 July so it was just following the trend of bitcoin having a new ATH at that period just like that of 2021 too were bitcoin was at 69k. this year is a year before halving and in some past trends like that of 2019 it is supposed to be a bearish period but due to some of the saga in 2022 and how bearish it was some expert actually predicted this mini bull run before the eventual one next year or two. I will also say that the hype around this ETF has actually caused a FOMO which is having its effect on the price. as things are now i don't think we will face a major correction but that will depend on the ETF getting approved next year if it gets postponed again then i think a little price correction will set in, because some aren't actually in for a long term holding but to gain if the approval happens and it pumps the market a bit, should it be denied then some holdings might be sold off

[Marvelman]

Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

Hard to predict if prices gonna drop or enter a bear market in December 2023.  I don't think we've hit that kinda bull market yet though and  lots of folks say the bull will keep running through 2024.  We'll see I guess.

[kentrolla]

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

this year last quarter is different with that of 2017 because that year was actually a year after the bitcoin halving had occurred which was in 2016 July so it was just following the trend of bitcoin having a new ATH at that period just like that of 2021 too were bitcoin was at 69k. this year is a year before halving and in some past trends like that of 2019 it is supposed to be a bearish period but due to some of the saga in 2022 and how bearish it was some expert actually predicted this mini bull run before the eventual one next year or two. I will also say that the hype around this ETF has actually caused a FOMO which is having its effect on the price. as things are now i don't think we will face a major correction but that will depend on the ETF getting approved next year if it gets postponed again then i think a little price correction will set in, because some aren't actually in for a long term holding but to gain if the approval happens and it pumps the market a bit, should it be denied then some holdings might be sold off

Yes even I have same instinct as this year it would be different and logically even if ETF is delayed or even denied it shouldn't have huge impact on Bitcoin's price , while there may be uncertainty around altcoin. I feel even if the price of Bitcoin goes through correction still it can pump back right after the Halving which is a positive sign this time as Halving is happening after the mini bull we could call it for the period we are going through right now. I guess any correction if it may occur should be considered as great opportunity for accumulating before the halving for post halving expected bull run.

[EarnOnVictor]

Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

Like I used to say, talk more to your chart rather than anyone, this is a market we are talking about, the behaviour of today is not a future indication of what the market will do. People could speculate, but be careful to use the speculation as it might not be what would eventually happen. You can see what happened already, it's a gradual deviation from what people expected, who knows if what would happen afterwards will be a deviation as well?

Regardless, with my technical chart studies, Bitcoin is bullish and the bullish trend is strong at this phase, therefore extreme caution is needed for the Bears, and if possible, the Bears should just go and sleep for now. Otherwise, the bearish movements might be either fake or negligible to earn them any tangible amount of success. Mind you, December is going gradually and almost half is gone, we should endeavour to only sell when we see the 1D and 1W charts confirming the bearish pattern altogether, especially when there has not been at least two consecutive daily and at least weekly close of the candlestick.

Above all, follow your chart, charts don't lie if you use them correctly.

[jeraldskie11]

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ? Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

There is no way to repeat the same thing that happened way back 2017 because of these reasons:

Volatility: In 2017, the volatility of bitcoin was so high that selling of a few investors might have a significant impact on the price. If you compare
                 these days, Bitcoin has lesser volatility which can't hurt the price so much if there were huge selling pressure.

Support/Demand Zones: This an area or levels where small investors and institutions are likely to buy. There is a lot of demand in that area which
                                         helps to prevent the price to fall behind from unexpected dump.

[Nrcewker]

I think instead of going down, we will move towards new ATH price. We have seen previously a pattern followed by Bitcoins in every 4 year. Last time Bitcoins reached ATH price in 2020, so after 4 years that is in 2024, it is expected that Bitcoins will definitely touch a new ATH price. Still it’s not confirmed 100%. In crypto space anything and everything is possible. So we should always be prepared for the worst.

[Captain Corporate]

I do believe that a repeat of 2020 (or 2016) would be a bit more likely result. Not something HUGE like the 2017 and 2021 ones, those were the big bull runs, I think we are getting into the year that would be just a little bit before that and it could result with something that may benefit everyone one way or another. Why would that be a good thing, why wouldn't we want 100k+ right away but like a year where we barely crack over 60k? Well that would mean we are both going up and giving people time to get in. After that in 2025 its obvious that we are going to have a huge uptick. Thats the four year cycle that we keep talking about and it would quite be similar in the end. We just need to make sure that things are going as smooth as possible during this period.

[southerngentuk]

You know, predicting anything in the market is a bit of a shot in the dark, but your thoughts on where Bitcoin and altcoins are at right now make sense. It doesn't seem like a major correction is coming anytime soon, even if the price dips a bit. Things are way different now than they were back in 2017, with all the big players and experienced investors involved.

That said, expecting Bitcoin to reach a new all-time high in the next few weeks might be a little too optimistic. Even though it's been exciting to see the price climb lately, market cycles tend to take their time.

As for altcoins taking off right now, that's just Bitcoin's influence doing its thing. When people see Bitcoin doing well, they naturally want a piece of the action and start looking into promising altcoins.

[aoluain]

No we wont see a repeat of December 2017.

We are currently PRE HALVING so we are in a bull run, back in December 2017 it was 18
months AFTER the July 2016 halving so the timing was for Bear season in Bitcoins 4
year halving cycle..

If you look at the 3 previous halvings, at least 6 months before the event we enter the
bull phase, and from approximately 12 months after we enter the bear season.

It might be the same month but its a different year and a different time in Bitcoins 4 year cycle.

[tabas]

I hope people remember what happened in December 2017 as last quarter of 2017 we witnessed bull run and during second half of December we saw price of Bitcoin dropping down and eventually triggered bearish market for next 3 years approximately and we are going through similar stuff but this is not a full fledged bull run but still we have seen crazy pumps for some Altcoin and even Bitcoin has increased. Are we going to witness price correction or bear market now ?

Prior to halving, it's normal if this goes paired with a correction and also with these pumps then we don't have any other direction where it is heading so just be ready to any direction where the market goes.

Or else this time it's gonna be different and Bitcoin will reach new ATH and we won't see any bearish pattern in December ?

The market always surprises us unexpectedly. But with assumptions that we've got based on the cycles and histories, if there will be some sudden change then that's better. However, if things go accordingly then you have come prepared and you are expecting things to happen normally. And about a new ATH, maybe it's too early to see that if you're talking bout' 2023 December.