Will we see repeat of 2017 or new trend?

[Minor Miner]

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).

I still believe we will have other corrections before and after the halving but none will be so large that bitcoin falls below $30k again. But I agree with you that those who haven't bought bitcoin yet because they thought the price would drop further to buy, they have really been left behind. If they don't change their plans and continue with that attitude, they will regret it later when the price of bitcoin is rising higher and higher. For me, bear season is over and we are in pre-bull season.

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[rodskee]

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 ?

Who can ever forget that time?  2017 when the price almost hits 20k but sadly the
transaction fees those days are truly High that i did not manage to enjoy my profit and sadly did not also manage
to buy again in 2018 when the price dumped badly.

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.

We are still waiting for what to come but Yeah i think this is far different from 2017
because we are not in halving , there are no even big companies that entering bitcoin now ,and also the
ETF is still on the table so maybe this will never be a copycat of 2017.

[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.

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).

We are going through accumulation phase. That's generally the scenario we have right now. That's precisely the reason why the price has already more than doubled, almost tripled even, just within a year. But we shouldn't forget that with this high growth in price in just a year, there should be investors who prefer to take profit. I know of some who indeed enjoyed their profits. Their money has already doubled in less than a year. That's not afforded to them by other investment opportunities. So these small corrections right now are normal within an accumulation period.

-snip-

We are still waiting for what to come but Yeah i think this is far different from 2017
because we are not in halving , there are no even big companies that entering bitcoin now ,and also the
ETF is still on the table so maybe this will never be a copycat of 2017.

No big companies that are entering Bitcoin now? There already are, and more are waiting for the green light which is probably what an approved Bitcoin spot ETF is to them.

[shinratensei_]

I still believe we will have other corrections before and after the halving but none will be so large that bitcoin falls below $30k again. But I agree with you that those who haven't bought bitcoin yet because they thought the price would drop further to buy, they have really been left behind. If they don't change their plans and continue with that attitude, they will regret it later when the price of bitcoin is rising higher and higher. For me, bear season is over and we are in pre-bull season.

there has been some chart graph going around reflecting that we exactly on the same path like in the previous bullrun and we are around the halving bullrun which will steadily increase, not sudden but steady and yes if that chart turning out to be true then we can easily expect not to see the price of bitcoin falling down below $30k again because im seeing from the previous trend in every bullrun we always have higher bottom than the previous bullrun.
the fall down in previous bearish was indeed so massive that we lost quite literally 90% of valuation for most of coin, good thing bitcoin isn't that bad and can contain some of the drops but indeed we've fallen from all time high too far and this time around if we could breakthrough the all time high again and even scoring an even higher place then i'm expecting the future market to be having significant increase in market capitalization.
the correction in this regard can be easily ignored if we are just keep increasing more and more in term of all time high linearly from the graph since correction is pretty normal to have.

[Oasisman]

Will we see repeat of 2017 or new trend?

It wasn't a trend, it was just a long bearish period.
And yeah we might be seeing another prolonged bearish market in the next couple of years, but I'm quite positive 2024 is most likely a bullish year. post halving in 20202 wasn't as bad as 2017 though, which I think a prolonged bearish run might not gonna happen in the next 10 years considering bitcoin adaption today is becoming more better than before. Bitcoin price might just play sideways after the 2024 halving and not totally a downward spiral.

[pinggoki]

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

This could be the factor that might make it ever so different than last time but then there's more institutional investors in the market and more corporations that are willing to put in huge amounts of money to invest in bitcoin so in a way, there's nothing that has changed but there's always a first time for everything with bitcoin, maybe it will be a different pattern than the last time but I know that there's more to this than many of us expects.

[Questat]

Will we see repeat of 2017 or new trend?

It wasn't a trend, it was just a long bearish period.
And yeah we might be seeing another prolonged bearish market in the next couple of years, but I'm quite positive 2024 is most likely a bullish year. post halving in 20202 wasn't as bad as 2017 though, which I think a prolonged bearish run might not gonna happen in the next 10 years considering bitcoin adaption today is becoming more better than before. Bitcoin price might just play sideways after the 2024 halving and not totally a downward spiral.

2017 is a bullish season and OP is asking if we could experience the same or another ATH.
Every time the bull season comes, we expect a more positive response on the market price bringing it high. We're supposed to believe because that was already happen last bull run. Now, we are expecting another double of the previous ATH, quite achieving though but yes, we still don't have any assurance for this. For me, the next bull season 2024-2025 was not far from the previous years, we still expect such an uprising trend.

[CageMabok]

This could be the factor that might make it ever so different than last time but then there's more institutional investors in the market and more corporations that are willing to put in huge amounts of money to invest in bitcoin so in a way, there's nothing that has changed but there's always a first time for everything with bitcoin, maybe it will be a different pattern than the last time but I know that there's more to this than many of us expects.

I also think that the end of this year will be very different from the conditions of the previous bullish year so that differences in Bitcoin price measurements at the end of this year will very likely be different. Now there are many large companies and institutional investors who are starting to think about owning Bitcoin because they are also quite aware of the very bullish market conditions next year so they are starting to compete to buy it at the end of this year.

[Xcode7]

This could be the factor that might make it ever so different than last time but then there's more institutional investors in the market and more corporations that are willing to put in huge amounts of money to invest in bitcoin so in a way, there's nothing that has changed but there's always a first time for everything with bitcoin, maybe it will be a different pattern than the last time but I know that there's more to this than many of us expects.

I also think that the end of this year will be very different from the conditions of the previous bullish year so that differences in Bitcoin price measurements at the end of this year will very likely be different. Now there are many large companies and institutional investors who are starting to think about owning Bitcoin because they are also quite aware of the very bullish market conditions next year so they are starting to compete to buy it at the end of this year.

The situation is different and of course what is happening now is also different so I think there will be differences for what happens in the future even though it won't be significant.
And we have experienced it this year with many positive market trends, which is a difference from what happened in previous years.
If we talk about a repeat of 2017, this is when we see a new ATH that occurs again 4 years later, namely in 2021, and I am sure this will happen again in the 4 years after that, and we have seen many signs of it.

[nimogsm]

It was a golden time then.I think the same trend as in 2017 will not happen again, then cryptocurrency and mining was very discussed and hyped even among people who were very far from crypto. They wrote about it in newspapers, talked about it in the media and on TV, which caused a huge effect on the market and an influx of big money.Now I don’t see this, so I think that the 2017 scenario is hardly possible now.

[justdimin]

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

Even not exactly four years. And then there is also a case that during the fourth year, the price didn't rise. What you said about the halving is true, but we can't prevent the people from selling when they feel like they should.

And this can still result for the price to decline. There are also people who won't buy for some reasons, which can make the price to become stable. The price is doing fine this year but all are expecting for more. We only need some patience for this because the year is already ending and there is another halving that will take place. That is one of its pumpers, other than us (normal individuals), the institutions and the whales.

[Hamphser]

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

Even not exactly four years. And then there is also a case that during the fourth year, the price didn't rise. What you said about the halving is true, but we can't prevent the people from selling when they feel like they should.

And this can still result for the price to decline. There are also people who won't buy for some reasons, which can make the price to become stable. The price is doing fine this year but all are expecting for more. We only need some patience for this because the year is already ending and there is another halving that will take place. That is one of its pumpers, other than us (normal individuals), the institutions and the whales.

There's no way that we could really be able to tell on where it would be heading because market is always been that unpredictable. Somewhat if the price cant be assured to happen again but it do usually rhymes and this is where most people do really rely on. This is why it would really be just that normal that people would really be having impressions that they would really be that happening again basing up on some possible
patterns that they've seen basing up into its history on which it cant really be that denied that majority of people would really be anticipating or expecting on the same thing.

Just like been said that recognition and adoption rate is really that totally different 6-8 years ago on which there's no way that we couldnt really be able to tell or say
that we might be seeing something different into this current years specially when halving event is really that fast approaching.
Somewhat we are really that expecting something positive most of the time but of course everything would really be just that depending.

[God bless u]

I still believe we will have other corrections before and after the halving but none will be so large that bitcoin falls below $30k again. But I agree with you that those who haven't bought bitcoin yet because they thought the price would drop further to buy, they have really been left behind. If they don't change their plans and continue with that attitude, they will regret it later when the price of bitcoin is rising higher and higher. For me, bear season is over and we are in pre-bull season.

We don't have any information about correction that when it will happens and how much price will decrease but there will surely be stage where we will must see dip before halving but if we are waiting for it then we will miss the better moment of buying. Everyone is saying that price will becoming lower due to the reason of correction so they will buy bitcoin that time but who knows that whether it will be happen or not so don't waste time through waiting for accurate timings but buy bitcoin until accurate time to get advantage out of it.

Bitcoin's price is at 41k$ from two or three days and according to estimation in few days it will grow more to cross the value of 45k$. If someone did not purchase bitcoin and are in hope that price will lower more so they will feel apologetic about their ignorance.

[goaldigger]

It was a golden time then.I think the same trend as in 2017 will not happen again, then cryptocurrency and mining was very discussed and hyped even among people who were very far from crypto. They wrote about it in newspapers, talked about it in the media and on TV, which caused a huge effect on the market and an influx of big money.Now I don’t see this, so I think that the 2017 scenario is hardly possible now.

This will be a different cycle, and yes we might not see the 2017 scenario again because we are aiming for the better this time. We will not see any hype because Bitcoin already hit the mainstream and doesn’t need any hype anymore because big companies are coming in and that’s what we need.

Bullish market can still happen and yes, new ATH will happen soon so let’s be more optimistic and don’t ever think that Bitcoin will not grow anymore because its not true, and you might lose opportunities if you remain negative about the market.

[TimeTeller]

It was a golden time then.I think the same trend as in 2017 will not happen again, then cryptocurrency and mining was very discussed and hyped even among people who were very far from crypto. They wrote about it in newspapers, talked about it in the media and on TV, which caused a huge effect on the market and an influx of big money.Now I don’t see this, so I think that the 2017 scenario is hardly possible now.

This will be a different cycle, and yes we might not see the 2017 scenario again because we are aiming for the better this time. We will not see any hype because Bitcoin already hit the mainstream and doesn’t need any hype anymore because big companies are coming in and that’s what we need.

Bullish market can still happen and yes, new ATH will happen soon so let’s be more optimistic and don’t ever think that Bitcoin will not grow anymore because its not true, and you might lose opportunities if you remain negative about the market.

I am with you on this. The scenario today is different from 2017 in a lot of aspects.
The adoption alone has been increased, more users and stakeholders are already in this market.
And of course, the population who are getting familiar in this market as well is steadily increasing.
It means, the possible demand is in the positive direction. Consider that the supply of btc is fixed.
Then, theoretically, the price will increase. So that's a good indication that we will see an increase in btc price.

[bhadz]

If IIRC, the cycle goes on and the same pattern will happen. That means that by December 2025 is the one that we're waiting for the highest reach and peak of the bull run. Our basis is the past bull run that came from 2017 and then will be followed by the bearish run, right? And that might get activated on 2026 and so on. These are all speculations and it's still best to just keep on track with the market so you do you what actions must be taken whether you're all in profit or more accumulation.

[Wiwo]

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).

I still believe we will have other corrections before and after the halving but none will be so large that bitcoin falls below $30k again. But I agree with you that those who haven't bought bitcoin yet because they thought the price would drop further to buy, they have really been left behind. If they don't change their plans and continue with that attitude, they will regret it later when the price of bitcoin rises higher and higher. For me, the bear season is over and we are in pre-bull season.

I also believe that the last Bitcoin dip is the last below 30k that we will truly see in a long time to come and for sure after the Bitcoin halving,  we will be having some minor price correction or drop but not to be that significant to get much attention since all focus is already on the expected bitcoin bull market that is most anticipated.

But to say that Bitcoin will follow the same cycle or in the year 2017 will be totally out of point to say it think so since Bitcoin have a hard history of not repeating the same pattern at every halving cycle or year,  unlike Bitcoin before the halving back then,  it was clear and stable at that point to say that bitcoin price then was much more down compared to what price the coin is today,  so for sure bitcoin won't follow that pattern as it did in 2017.

[danadc]

I do not think it is the same to what happened in 2017 because what happened in 2017 was something very far from what can happen currently, I think that when we are waiting for a simlar coup to 2017 we can take a great blow, it is not Correct that we think that the things can become a fact that will occur the same of those times, in 2017 there were no things that are now, such as wars, land disputes, things that are degradable, pandemics, diseases and what is coming, and This is what we can see that it is not the same as in 2017, in 2017 s there was a great rise in the price of Bitcoin, but did not get to the $ 70K that passed the last ATH and everyone said that They were going to $ 50k.

The patterns can repeat themselves, because that is what we can call possible, but I do not believe that things are given as at that time, I speak of the time because we were living less tragic things like now.

[sana54210]

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

Even not exactly four years. And then there is also a case that during the fourth year, the price didn't rise. What you said about the halving is true, but we can't prevent the people from selling when they feel like they should.

And this can still result for the price to decline. There are also people who won't buy for some reasons, which can make the price to become stable. The price is doing fine this year but all are expecting for more. We only need some patience for this because the year is already ending and there is another halving that will take place. That is one of its pumpers, other than us (normal individuals), the institutions and the whales.

We can't prevent them, but it's clear that we are not going to end up with too much neither, not that many would want to sell when the prices are soaring, they could, they are allowed, they are not in trouble, but they won't. That's what the situation is all about, that's what the bull run is, they just need to keep on focusing what they are capable of doing the best and that means when the price is going up, they are not going to end up selling, which creates the bull run.

In every bull run we ever had so far, we never had any issue with this, we always had the situation going as far as possible thanks to all those people who didn't sell and all those people who ended up buying as well, it allowed everyone to get better.

[bounceback]

Bitcoin have difference condition from 2017 with situation right not, have many bigger companies around the world adopted bitcoin as legal payment currency and right now have El Savador allowed bitcoin as payment tender. I think last several season Bitcoin not huge progress and still use as commodity assets not adopting for payment currency and right now Bitcoin have good movement not only with price but advantage of bitcoin adopted and use for daily day. Pattern of bitcoin price have any similar with 2017 but I don't sure how bitcoin success becoming top large digital currency and adopted by many companies as bigger revolution of bitcoin.

But one one side with bitcoin against still the same where in 2017 many bad news publishing by community dislike with bitcoin and still the same until right now they keep trying make FUD with bitcoin.