Will we see repeat of 2017 or new trend?

[Hamza2424]

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 ?

Hmm, I was not part of the crypto community in 2017, but I've already heard of the 2017 market cycle, comparing the current sentiments and expected developments I can say that no this was just a pre-wave of the Bull run and there's nothing to be afraid of that we might face a small bear market again, well it can be possible but 95% chances are that we won't fall into such scenario.

Becasue the ETF's hype and the ETF contenders standing in the financial world really deserves such pre-hype. By the end of the year, we can expect a massive jump and then a small consolidation zone over there. Currently if any bad thing happens to the EFT approval any sort of denial or deal after Jan it will be a hit to market and we may see market falling freely for some short time, but according to the lastest SEC's statements and other developments its highly expected in Jan there will be some ETF approvals reserved.

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[Wiwo]

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 until the dip hard

I agree with you on that,  Bitcoin may likely not see the level of pump it experienced back in 2017 because you rightly said,  bitcoin back then was much cheaper and that made it easy for its market to easily get pumped with little activities and trends.

But right now,  those mechanisms that make the reality of a huge pump happen in 2017 are currently absent such as the total unmined bitcoin and how much the price of bitcoin then compared to now.

[davis196]

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 ?

The current price pump is definitely a bull run with FOMO phase. This is basically another price bubble. I'm sure that this price bubble will burst sooner or later and there will be another bearish season. It's normal for Bitcoin to have bull runs and bearish seasons. This won't change. You can't expect the BTC price to keep going up forever. My expectation is another big regulatory hit over the Bitcoin/crypto world in 2024. The central banks/governments will try to push their CBDC projects further, so they will do everything they can to smash the cryptocurrency world with more regulations and bans.

[yhiaali3]

In my opinion, what is happening now is the result of excessive optimism about the approval of the Bitcoin ETF, and people are eagerly awaiting this event and continue to buy Bitcoin, so we have seen this important rise during the past short period.

But this excessive optimism may also lead to adverse results in most cases, as happened today when Bitcoin fell by one candle, with a violent decline of -7% in just one hour.

The market is currently very volatile and the direction cannot be determined accurately, but it is possible that we will witness a decline before the expected rise after the expected Bitcoin halving in the middle of next year.

[moneystery]

i don't think that the bitcoin market will repeat the trend of 2017, seeing how positive investors are now and the halving that is getting closer. but maybe in the near future the bitcoin market will experience bearish due to negative sentiment or issues in the market, it is only natural that in market developments there will definitely be bearish but it will not be as severe as 2017. and it will be good again and we will probably see how bitcoin reaches the new ath.

[bangjoe]

Not for this December in my opinion because, because we are in a different cycle and adoption is much stronger than disposal, if it's just a normal correction, between consolidation prices it is a natural thing in my opinion, but if there is a deeper correction it is not possible, such as returning to the price of $20k, what might happen is a side way in my opinion, although at the base the price movement is almost the same, but each cycle has a different story in my opinion, bitcoin dominant also still has the power to be bullish this December.

But isn't it a good thing if it is bearish, because we can still collect more bitcoin before the halving this month, I will follow it continuously.

[cakravothy]

experience every four year bitcoin and altcoin price always bull
because every four year bitcoin halvng and revenue from mining reduce so bitcoin price can incrase, about suply and demand
but i thnk still need pumper to can incraese price

[taufik123]

-snip-
But this excessive optimism may also lead to adverse results in most cases, as happened today when Bitcoin fell by one candle, with a violent decline of -7% in just one hour.
-snip-

It looks like the trade is quite saturated at the top and needs correction to balance good market prices.
$40k is still the nearest support which is strong enough for now, If it continues to hold I believe there is a fairly high rise again.

If this is said to be excessive optimism, it may be because many investors believe that the price of Bitcoin will continue to surge and believe that next year Bitcoin will get better.
When that optimism becomes excessive, this will create a wave of FOMO-backed halving that will soon occur in the coming months.

[STT]

No I dont feel we are within the same kind of motion as 2017 despite the positive end to this year.  I think we have further to go but also it will not result in a peaked price during this month, if BTC is left to run freely  we should find the best price gains occur after the halvening which is next spring.  So its about 6 months from now before we should speculate on the best gains, the sharpest gradient on the graph and so on.   If its my estimate I will say 12 months from now maybe, a full year off and I'll say that for the same reasons I said before 2023 this year will be revision or consolidation more then grand gains or an immediate bounce back.   The bigger the price objective, the more preparation is to occur beforehand imo (or else we risk very unstable prices gains then losses).

[snipie]

No I dont feel we are within the same kind of motion as 2017 despite the positive end to this year.  I think we have further to go but also it will not result in a peaked price during this month, if BTC is left to run freely  we should find the best price gains occur after the halvening which is next spring.  So its about 6 months from now before we should speculate on the best gains, the sharpest gradient on the graph and so on.   If its my estimate I will say 12 months from now maybe, a full year off and I'll say that for the same reasons I said before 2023 this year will be revision or consolidation more then grand gains or an immediate bounce back.   The bigger the price objective, the more preparation is to occur beforehand imo (or else we risk very unstable prices gains then losses).

I have the same feeling as you. I expect one year from now to see another all time high. For the moment, the volatility is at its best with Bitcoin with the price moving from $41k to $44k and bounce back with a lot of buying and cashing out activity.
People were waiting to see the price increase so they can make some movements, I don't blame them but we should keep holding for the next peak.
The instability in the price will continue for a month from now in my opinion, I just hope to not see less than $40k price again..

[flyingcarpet]

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 ?

No one knows the truth about the price of Bitcoin and never will. There are only cycles and predictions are made accordingly. Other predictions exist only as predictions and are forgotten. I don't know if what happened in 2017 will happen again in the coming days, but we all hope for good things to happen.

Many of the people who invest in Bitcoin believe that the price will rise and invest for that reason. I think there is little time left for investors who have been waiting for a price increase for a long time to reach their goal. After all this time in the bear market, it would not be a surprise to see a new ATH. I think we should not rush and wait for price increases gradually.

[mirakal]

In my opinion, what is happening now is the result of excessive optimism about the approval of the Bitcoin ETF, and people are eagerly awaiting this event and continue to buy Bitcoin, so we have seen this important rise during the past short period.

But this excessive optimism may also lead to adverse results in most cases, as happened today when Bitcoin fell by one candle, with a violent decline of -7% in just one hour.

The market is currently very volatile and the direction cannot be determined accurately, but it is possible that we will witness a decline before the expected rise after the expected Bitcoin halving in the middle of next year.

Seeing a price decline before a real bullish market appears is highly possible, that already happened in the previous bull run and history might repeat this time. The truth is, no one can accurately tell the future price of bitcoin, and we cant even tell as to when or how high it's new ATH will be. Or worst is we will still experience a massive price decline before we will hit it's new all time high.

Speculations here and there, that's what we can all do this time. But if fate allows to repeat the history from 2017, a lot of people will definitely be rejoicing while leaving the others regretting.

[GeorgeJohn]

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 ?

Each year in cryptosphere have it's own way of increment, so you can not use the previous year experience of bearish season and bullrun season to compare to each other, so therefore if what happened last year 2017 is what you think that may happen this year I think is a misconceptions and misunderstanding of the method of bitcoin technology or bitcoin increment and decrement in the market..I know quite that may people is afraid of bitcoin due to 2017 experience and I have across of people encouraging other people to sell off their bitcoin thinking bitcoin may fall at any point in time, so we are supposed to checking or chart before we conclude of bitcoin price.

[electronicash]

that was a bull run where the majority shitcoins turned gold. there were unknown coins where the price hit $0.13 and if you have 5 million of them and you hold hoping to go more than $0.13 in the net bull run, you surely haave regrets by now. a good amount of unrealized profit lost.

things turned bad after china banning, google and facebook bans advertising and crashed the market to $3800/BTC, a good opportunity for those who have converted their profit to stablecoin.

if this happens again, make sure you won't waste the opportunity.

[Kelvinid]

That year was a big surprise to the people and the world, especially those who ignored crypto and thought that was a scam. That was the year that brought attention to the community making these rich people and businessmen talk about its brighter future. Even shitcoins had pump xxx times that every holder got money more than what they thought. But I'd never expect this thing to happen again aside from coins that have a use case. For now, the best and least secure investment is to buy old coins which we can expect to skyrocket once bull season comes.

[sheenshane]

experience every four year bitcoin and altcoin price always bull
because every four year bitcoin halvng and revenue from mining reduce so bitcoin price can incrase, about suply and demand
but i thnk still need pumper to can incraese price

Most crypto enthusiasts anticipate that there's a bull run right after halving and it usually occurs after 6 months when halving is successfully done.
So I expect that it will repeat and could be this year-end would be the start to skyrocketing the price.

However, nobody knows what will happen in the future, so let it be and hold it for the long term if you want a good profit.
Never sell in a lost position.

[Fundamentals Of]

2017 was different. It was a bullish year because it was the year that immediately followed the halving year. The full effect of the halving which happened in July 2016 was fully priced in in 2017.

This year 2023 is different because we are not anticipating the effect of any halving. We are approaching the halving. So I don't think that what happened in December of 2017 would be repeated in this December. The circumstances are different.

But I also don't think there will be a strong correction. The Bitcoin spot ETF is a big factor. Also there are others who are not yet done accumulating in preparation for the halving next year.

[bitterguy28]

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 truly a crypto Era where people around the world starts entering the market , we can assess this to also the creation of accounts and wallets ,thought is not a concrete file to prove that year is the Era but for me 2017 is the best ever year for crypto specially Bitcoin.
And also I assume that what we have in 2017 is the effect of Bitcoin halving while in 2023? we are half year away to halving and also year far from making another ATH, what I do believe is 2024 will if there maybe a history repeating , that is the perfect year.

That year was a big surprise to the people and the world, especially those who ignored crypto and thought that was a scam.

I am guilty of this , to not believing bitcoin and crypto in 2015 instead needed to wait till 2017 to finally realized what I missed through those years.

[Reatim]

2017 was different. It was a bullish year because it was the year that immediately followed the halving year. The full effect of the halving which happened in July 2016 was fully priced in in 2017.

that is what we all believe that Halving is what the reason why Bull market is happening and All
Time High is being set , so this year seems to be not what we are looking here.

This year 2023 is different because we are not anticipating the effect of any halving. We are approaching the halving. So I don't think that what happened in December of 2017 would be repeated in this December. The circumstances are different.

maybe next year if time permitted ? and next year if the halving succeeded bringing as Bull market once again?

But I also don't think there will be a strong correction. The Bitcoin spot ETF is a big factor. Also there are others who are not yet done accumulating in preparation for the halving next year.

I am still preparing , though there are already good amount to be hold for that term yet looking for another low
opportunity purchasing more from Bitcoin to altcoins.

[kentrolla]

2017 was different. It was a bullish year because it was the year that immediately followed the halving year. The full effect of the halving which happened in July 2016 was fully priced in in 2017.

This year 2023 is different because we are not anticipating the effect of any halving. We are approaching the halving. So I don't think that what happened in December of 2017 would be repeated in this December. The circumstances are different.

But I also don't think there will be a strong correction. The Bitcoin spot ETF is a big factor. Also there are others who are not yet done accumulating in preparation for the halving next year.

Basically your point of view on this suggests that the growth we have seen in last one month or so is organic apart from the push we got due to Bitcoin spot ETF since we didn't have halving before this pump unlike 2017 and yes I am aligned that there won't be much of a correction. But rather we are going through accumulation phase and people should have already accumulated Bitcoin if they haven't they are already left behind (not trying to create FOMO but the fact).