Fear of December dump is fading away - for Bitcoin

[jeraldskie11]

As you might see in my previous posts and responses I have always considered the send half of December as a bad time for crypto because we had seen most of the bearish market starts from the end of December but this year it has been different as we have not seen any sign of bearish market till date though there has been minor fluctuations in the price of Bitcoin but it has not been more than 10% drop in Bitcoin.

 I think we may not see any bear market this time due to the upcoming events like Bitcoin Halving & possible Spot Bitcoin ETF approval has leveraged enough investments flowing in and creating more demand which may subdue any larger price correction which could have occurred.

What's your opinion on current Bitcoin trend, will it continue the same way or we will go through the December nightmare once again?

We can't say that because December is not over yet. There are still days before December ends. The price of Bitcoin is consolidate inside the supply zone which means the buyers are not interested to buy in that area or the buyers are undecided. But then we can see in the chart that the price touches the area several times already possible it will surpass the supply. However, maybe the price of Bitcoin will go down because the retracement is not happening yet. We should expect that to occur because normally the price of Bitcoin will going to retrace.

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[taufik123]

-snip-
We should expect that to occur because normally the price of Bitcoin will going to retrace.

Bitcoin will try to find its best support point, so that it can be a foothold for bitcoin to be able to reach its highest price again.

The decline is usually also accompanied by some FUD that starts to appear, but if Bitcoin remains strong at support,
then it will only be a temporary decline, Bitcoin is still stuck above the $40k price and will not fall more than that.

Looking at how on the Fear & Greed Index, the Bitcoin market is still quite bullish and is still trusted to continue to rise.
More investors are optimistic for the new ATH, and some will probably just leave the market and then come back again.


https://alternative.me/crypto/fear-and-greed-index/

[Yatsan]

Indeed fading. But we cannot blame those who though of it given that we can only base from previous market behaviors and it just happened that the charts were covered with red before during holiday season. However, the market is just proving how unpredictable it is. Many people are expecting for a bullish market behavior next year due to the anticipated Bitcoin halving but it seems that there is a chance for the market to sustain its increase until the waited event. Although we have no assurance, the market has been up for a month already which is a good sign. Just keep in mind that price correction might still take place in a sudden so better be careful with your actions such as going all out due to high hopes of a continuous price increase, which is not possible if we would look at different time frames especially smaller ones.

As you might see in my previous posts and responses I have always considered the send half of December as a bad time for crypto because we had seen most of the bearish market starts from the end of December but this year it has been different as we have not seen any sign of bearish market till date though there has been minor fluctuations in the price of Bitcoin but it has not been more than 10% drop in Bitcoin.

 I think we may not see any bear market this time due to the upcoming events like Bitcoin Halving & possible Spot Bitcoin ETF approval has leveraged enough investments flowing in and creating more demand which may subdue any larger price correction which could have occurred.

What's your opinion on current Bitcoin trend, will it continue the same way or we will go through the December nightmare once again?

We can't say that because December is not over yet. There are still days before December ends. The price of Bitcoin is consolidate inside the supply zone which means the buyers are not interested to buy in that area or the buyers are undecided. But then we can see in the chart that the price touches the area several times already possible it will surpass the supply. However, maybe the price of Bitcoin will go down because the retracement is not happening yet. We should expect that to occur because normally the price of Bitcoin will going to retrace.

It is only a few days before this year ends and a huge dump is less likely to happen, but next month is a different story. Anticipating the worse is better than to be careless at all. If the price won't be consolidated with a huge dump then that's better. Retracement is indeed possible but so do bullrun. Also, given that the market broke our expectations, then there's also a chance that it may again create its own pattern for 2024. Since no one has the assurance, let us all just wait for things to happen on the actual.

[jeraldskie11]

-snip-
We should expect that to occur because normally the price of Bitcoin will going to retrace.

Bitcoin will try to find its best support point, so that it can be a foothold for bitcoin to be able to reach its highest price again.

The decline is usually also accompanied by some FUD that starts to appear, but if Bitcoin remains strong at support,
then it will only be a temporary decline, Bitcoin is still stuck above the $40k price and will not fall more than that.

Looking at how on the Fear & Greed Index, the Bitcoin market is still quite bullish and is still trusted to continue to rise.
More investors are optimistic for the new ATH, and some will probably just leave the market and then come back again.


https://alternative.me/crypto/fear-and-greed-index/

There is what we called visible and non-visible support but visible support is the stronger one. Others may think that $40.5k in 4h time frame can be a strong support but in my opinion it's not. If we go to the weekly time frame, we saw that the price is respecting the zone. In what way? The demand is getting weaker as it approaches the supply again, if we use RSI in the 4h time frame we see a bearish divergence which indicates that price will go down soon. However, even though we have many confluences that the price will start retracing in this supply zone, the chance of breaking the supply is still there.

[shinratensei_]

it seemed that many people always calling out market dumping every december just because its end of the year some people need money for new year eve, but I don't think so, the current trend does affect a lot with how the market behave the supposed market dumping at the end of the year was proven otherwise and right now instead bitcoin keep breaking the resistance, it just means that we are kinda in bullish market right now though we haven't experienced any real bullish where it could help bitcoin price to go back near the price of when it was before the bearish market basically around the all time high which even if it hits around that target its already good enough for me personally but I think in the future it will be smooth sailing, moreover the ETF might be a big thing for us in the next year so many deadline are gonna be due we will see whether the price will be dumping or pumping it all depends on the ETF approval.
maybe this also the reason why the market are so stagnating right now not dumping but slowly pumping people are anticipating on what gonna be unfolding around the next year probably in january when the deadline is due.

[michellee]

Actually, it doesn't matter if the bearish market will come again this month like in previous years. That means we have time and opportunity to accumulate more Bitcoins. And that is a form of our preparation for an increase in Bitcoin in the next year or two.

But this month, Bitcoin prices tend to rise and fall, which is different from previous years. And yes, this is still good for us if we want to accumulate. We can buy Bitcoin when the price decreases and collect it for a while. I hope we can be prepared for all the possibilities that could happen this month.

But if there is approval for a Bitcoin ETF, it could provide a boost for Bitcoin prices to climb higher. And although corrections will come, that is a normal thing to happen. Then, the price could rise again, and maybe at the beginning of the year, the price could touch $50k before the halving. Well, it's all just a wish that hasn't happened yet.

[bitterguy28]

Not know where you get that fear of december in half time because what do I observe over the years is that Dumping starts happening before the year ends that means mostly last couple of days in month of December , but maybe there is a different approach now as there lots of hearsay about ETF coming very soon or earlier next year so indeed that we might see most changes not this month or even the next , i may say it will takes place before the halving in April next year.

[peter0425]

December is a crucial month because sometimes its good but in the near time would be bad , have seen how many December all my years here and until now i cannot read what will happens next.
but this one seems to be going right as december fear seems to be ending this year .

[yohananaomi]

Not know where you get that fear of december in half time because what do I observe over the years is that Dumping starts happening before the year ends that means mostly last couple of days in month of December , but maybe there is a different approach now as there lots of hearsay about ETF coming very soon or earlier next year so indeed that we might see most changes not this month or even the next , i may say it will takes place before the halving in April next year.

Looking at the trend this year, since the beginning of the year there has been a very good increase, even though at the beginning of December there was an unstable movement and it seemed like it was going up and down quickly, but this did not stop the upward movement.Maybe because December this year is very close to the halving period, which usually results in a correction, but I actually agree with you that it won't happen at the end of this year but rather think that Q1 next year could have a bigger impact. However, when it comes to ETFs, it could be a trigger, but it's not that there has been a delay in this matter; indeed, everything could be related.

[justdimin]

I think we may not see any bear market this time due to the upcoming events like Bitcoin Halving & possible Spot Bitcoin ETF approval has leveraged enough investments flowing in and creating more demand which may subdue any larger price correction which could have occurred.

But, usually December month is known for vacations and celebrations of festivals in western culture where people do spend more than any part of a year. It means people may save through out the year just for the reason of cashing out for Christmas and New year parties. This year in December month we have witnessed 2 quick corrections which had happened from $44k levels to below $40k levels and another one is $44k level to $43k levels. Probably these 2 were triggered by them while cashing out for festivals.

With Bitcoin regulating within the $40k range, it's a good sign that if it breaks that $43 price, we might be seeing $50k in price. Even if it's not this year again, early January might be a good time to hit that price.

By following the previous cycle, bitcoin may reach 80% of its current ATH before getting ready to another phase of dump. Interestingly these do happen before halving and around the times of halving, bitcoin do trade below 50% of its ATH value. By the time of December of halving year, it will test its ATH again.

[Mpamaegbu]

What's your opinion on current Bitcoin trend, will it continue the same way or we will go through the December nightmare once again?

My observation is that this particular December has been surprising (though not to me) and we can speculate that the expectation of halving in April or in the first quarters of 2024 is what's scaring investors from dumping. If anything, there seems to be more buy than sell right now. Those who take profit now even do so to get in back at correction and not to move out. We can see the volume of trades on daily. The marketcap shows the market hasn't depleted as evident in the cash circulating within it.

[jaberwock]

Not know where you get that fear of december in half time because what do I observe over the years is that Dumping starts happening before the year ends that means mostly last couple of days in month of December , but maybe there is a different approach now as there lots of hearsay about ETF coming very soon or earlier next year so indeed that we might see most changes not this month or even the next , i may say it will takes place before the halving in April next year.

I think it's better to not hope too much about that ETF because they are always like that. It was like they are only hyping things up, but at the end, there is still no approvement that happened. For those who are new here, or didn't know it yet, this ETF approval rumour has been here I think since 2017.

But, look at the dates now. We are on 2023 already and there is still no clear approval dates lol. But anyways, we don't really need this IMO. We can just look at how BTC perform over the years. It can always go on its own. If we are only talking about next year, we still have the BTC halving, so I agree that things are going to be different this time, in terms of that dip pattern.

[Yamane_Keto]

The market always calculates the news within a week or two of its occurrence, and since the date of making the ETF decision is on January 10, I expect a decline in the price of Bitcoin at the end of the Christmas holidays. The more accurate question is: where will the price fall? Will we see a temporary correction to $38,000 or $32,000 or $28,000 all options are available.

I don't expect any ETF approval in January so I'm betting that by the end of the year we will be at $32k.

[STT]

No 32k is too apprehensive, we can sell but dont forget the buy that follows a sell off.   We will not end 2024 at 32k though I would not say thats the worst case scenario but generally we should recover after negative news.  ETF isnt everything in the world, if we never get the ETF its not a barrier imo
   I agree on Jan or the spring months, if we relate to last halvening of course a sell is possible with the worst possible news.   Hard to state larger natural negatives then the pandemic and shutdown, the millions who died (14m est UN) from that is all negative yet we recovered.   The ETF is artificial, its not natural news to a few people it wont even be taken as a negative on a refusal.  The purists dont even want the ETF and Im sympathetic to their thinking because BTC will amount to alot more then a symbol on a stock exchange; it was estimated by some to replace the entire prior means of trading so how can the ETF be the largest negative its not.
   Im wary of all the other negatives for BTC for the world generally, if these do not occur in 2024 if we find a way to keep building then stay positive and remember price is just a label not a cap to value.

[Ndabagi01]

What's your opinion on current Bitcoin trend, will it continue the same way or we will go through the December nightmare once again?

We just have little time to the end of the year but it still possible for the market to experience a dump before going into the new year. I would have say this December should one of the best ones since bitcoin inception, it experienced more bullish than bearish market and this is a good sign for the upcoming year in the crypto market. December nightmare should be over by now, if the market will taste a bearish moment, it won’t be a bad one that will affect most of the investors holding before we usher into the new year.

[Out of mind]

The month of December saw the biggest increase in the price of Bitcoin and reached its highest level this year. By the end of 2023 it is not possible to imagine how the price of Bitcoin will rise so much, but we saw the price of Bitcoin close to touch $45000 in December. But according to this we can expect the Bitcoin market to grow further in 2024 as the Bitcoin halving is not far away. If Bitcoin halves in 2024 there may be some dumping of the market later, but then we will certainly see pumping.

[JoyMarsha]

What's your opinion on current Bitcoin trend, will it continue the same way or we will go through the December nightmare once again?

The one thing I know for sure is that the price of bitcoin won't drop below $40k in December (one week left before 2024). It will continue to fluctuate over $40k until January of the coming year. By then, we will be anticipating a price increase or decrease before the halving. However, keep in mind that a correlation price would occur. No one can predict when it will. But continue to accumulate bitcoin if you can and enjoy a joyous Christmas celebration with loved ones

[Kemarit]

The market always calculates the news within a week or two of its occurrence, and since the date of making the ETF decision is on January 10, I expect a decline in the price of Bitcoin at the end of the Christmas holidays. The more accurate question is: where will the price fall? Will we see a temporary correction to $38,000 or $32,000 or $28,000 all options are available.

I don't expect any ETF approval in January so I'm betting that by the end of the year we will be at $32k.

Why so bearish at the end of December though? the market is very bullish as this stage and I don't see the price crashing from $43,000 to $32,000 unless there is a big news that can impact that kind of price movement, like a black swan even or something similar to FTX collapse, but there's none.

We might not have a Bitcoin spot ETF approval next month or even this year, but you have to think that around April we have the block halving and that alone as we have seen in the past is the trigger for a bull run. So we will have to wait what 2024 offers, but for sure majority could  be leaning or a bull run. Maybe can see the price going about $69,000 or the current all time high, but it might continue to grow and that magic number of 6 digits.

[GreatArkansas]

(...)
What's your opinion on current Bitcoin trend, will it continue the same way or we will go through the December nightmare once again?

For me, this year's December is different because of the Bitcoin block halving is next year.
If you will also check the history prices of Bitcoin from the previous BItcoin block halvings, you will see that we can't see any bearish price actions on every month of December, months before the Bitcoin block halving.

[dezoel]

Well, even if there are price drops, we can't call it a bear market but it will be a strong correction if most, and though I was also expecting that to happen before where we are right now, I'm still not satisfied or relieved that it won't happen. I still feel that the market will see a correction either within the next few days or after we enter the new year. The first couple of months of 2023 were pretty amazing for the market because we saw the market going from around $18k to $28k, but we don't know if the same will be repeated this time around.

I have done all the buying and everything and also have some liquid assets left in case I need to buy more, so I wish that we see the market going up more as we enter the new year, but we need to be ready for any situation because we all know how unpredictable the market is and anything can happen.