Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Cryptocurrency Price Speculations => Topic started by: KingsDen on December 30, 2023, 12:31:38 AM
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Surprisingly, we have not escaped the December dump. While we escaped the Christmas day dump, I thought that we have escaped the whole December seasonal correction drama because, obviously it is just few days to the new year from the 25th December.
Surprisingly, it seems the dump wants to happen at the last days of December. Bitcoin has removed his gripping hands from $42k, we are now in the region of $41k and $40k is eminent. Maybe, we have to pray the mempool remains this way. If it eventually decongests and all pending transactions approved, the price will dump.
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Surprisingly, we have not escaped the December dump. While we escaped the Christmas day dump, I thought that we have escaped the whole December seasonal correction drama because, obviously it is just few days to the new year from the 25th December.
It's been an unexpected twist with Bitcoin's price recently, especially nearing the year end 2023. I think market movements are keeping everyone on their toes even after the Christmas period. The btc price shift from $44k to the $41k region is keeping fingers crossed i hoping for stability. I aslo think Mempool dynamics might further impact the price a bit of uncertainty in the air as the year draws to a close.
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Well it is normal that things when it comes to bitcoin are like this, bitcoin for me is in a great moment, because basically things in the market are like this, the price can be raised or lowered depending on what is in the market, it can It is expected that things will get good this January, because there is a good chance that everything related to Bitcoin ETFs will be reviewed, some that have not been approved may resurface and be approved, in addition the Halving of Bitcoin is a fact, because things when They are like that according to past experience the halving at the time after it happened the price went up and that was something favorable, so things can be very positive, I personally hope for the best from bitoin I think it could reach more than $100k, and that is something very beneficial.
Those who are in hodl mode, well things are going bad for them, as long as things continue like this, the most likely thing is to expect the best from Bitcoin, of course if it doesn't happen right now it will happen at any time, but the price of Bitcoin that goes up goes up.
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Surprisingly, it seems the dump wants to happen at the last days of December. Bitcoin has removed his gripping hands from $42k, we are now in the region of $41k and $40k is eminent. Maybe, we have to pray the mempool remains this way. If it eventually decongests and all pending transactions approved, the price will dump.
From late December to early January, it is a small difference in time and market makers can make this small change to mislead us.
Bitcoin has four continuous months with green monthly candles and it potentially can make one or two more green monthly candles maximum. However, it is more logical if Bitcoin has a correction in January or February as its preparation for April halving and big bull run after that.
Because corrections before halving will help to shake out weak hands or gamblers. It will help Bitcoin has less barriers for its big bull run. Corrections before halving are like big tests of market makers.
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Surprisingly, it seems the dump wants to happen at the last days of December. Bitcoin has removed his gripping hands from $42k, we are now in the region of $41k and $40k is eminent. Maybe, we have to pray the mempool remains this way. If it eventually decongests and all pending transactions approved, the price will dump.
From late December to early January, it is a small difference in time and market makers can make this small change to mislead us.
Bitcoin has four continuous months with green monthly candles and it potentially can make one or two more green monthly candles maximum. However, it is more logical if Bitcoin has a correction in January or February as its preparation for April halving and big bull run after that.
Because corrections before halving will help to shake out weak hands or gamblers. It will help Bitcoin has less barriers for its big bull run. Corrections before halving are like big tests of market makers.
I know there used to be correction before bull run but I have never known why it is so. Just reading here now that it is to shake off weak hands. If that be so, bitcoin has done impressively well this year and it cannot continue to green from here, we are definitely expecting a correction and when it happens we shouldn't be amazed.
It may also happen sooner than expected because the ETF approval and halving are just gearing up.
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Well, so far, bitcoin seems to be doing really well, the price is holding and adding up nicely after the recent flash crash that happened that brough the price down to about $40,000 from $45,000, this was after the news went round that bitcoin spot ETF won't be approved, this was a clear manipulation and thank goodness the majority of investors knew this was a fowl play and did not fall for it, for if investors had fallen for it as they expected, the price of bitcoin would have dumped to maybe as low as $30,000, which would have given the manipulators the opportunity to scope more bitcoin at a discounted prices before the ETF finally gets approved and every thing flies up.
The ETF is speculated to get approved by Wednesday this week, and lets hope it drives the price of bitcoin to the moon and never back down again.
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Surprisingly, we have not escaped the December dump. While we escaped the Christmas day dump, I thought that we have escaped the whole December seasonal correction drama because, obviously it is just few days to the new year from the 25th December.
Surprisingly, it seems the dump wants to happen at the last days of December. Bitcoin has removed his gripping hands from $42k, we are now in the region of $41k and $40k is eminent. Maybe, we have to pray the mempool remains this way. If it eventually decongests and all pending transactions approved, the price will dump.
We shouldn't relent because we are going to keep having such correctional on bitcoin price from now henceforth till after halving, you will also discover this till we have achieved the bullrun always anticipated for, the pump and dump we experience during the last December period was just as an ordinary shift that has no much implications since the market remained bullish ever since, this is to also confirms to us that more are coming ahead of us but the aspect that remains more resistant about this will only be the main reason to determine whether we are pumping on dumping on the market
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We shouldn't relent because we are going to keep having such correctional on bitcoin price from now henceforth till after halving, you will also discover this till we have achieved the bullrun always anticipated for, the pump and dump we experience during the last December period was just as an ordinary shift that has no much implications since the market remained bullish ever since, this is to also confirms to us that more are coming ahead of us but the aspect that remains more resistant about this will only be the main reason to determine whether we are pumping on dumping on the market
Stay alert because all conditions can happen unexpectedly.
The correction is certain, because the price is already quite high, but the influence of the ETF will give it a stronger FOMO if it is fully accepted, but if it is rejected then we need to be prepared to buy it again at a price that will be cheaper.
Many speculators say that Bitcoin will rise to higher peaks, but some manipulators will make the game even more exciting and Bitcoin's journey will not be easy.
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Maybe, we have to pray the mempool remains this way. If it eventually decongests and all pending transactions approved, the price will dump.
I know I am posting late but just read your topic, and I really shocked as I never looked at the mempool with this POV, like if there is more congestion then it means the transactions are not occurring at speed, and if they decongests then all the transactions will be completed and the impact will occur on demand and supply ratio. Thanks for giving me this POV.
Besides all this, BTC still ranges between $42k to $43k even after the approval of ETFs, I don't know what is holding BTC back but it should have crossed $50k till now. I think we expected more from this ETFs, or we expected sudden results which we might not see maybe till halving, and after that we might see good results which considering the halving event are so obvious.
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Maybe, we have to pray the mempool remains this way. If it eventually decongests and all pending transactions approved, the price will dump.
I know I am posting late but just read your topic, and I really shocked as I never looked at the mempool with this POV, like if there is more congestion then it means the transactions are not occurring at speed, and if they decongests then all the transactions will be completed and the impact will occur on demand and supply ratio. Thanks for giving me this POV.
Besides all this, BTC still ranges between $42k to $43k even after the approval of ETFs, I don't know what is holding BTC back but it should have crossed $50k till now. I think we expected more from this ETFs, or we expected sudden results which we might not see maybe till halving, and after that we might see good results which considering the halving event are so obvious.
Currently, bitcoin price is 41k+, at yesterday it was $42k+. As we can see the price correction has not stopped yet and who knows if it will dip more than this. I am not surprised because, before the halving, it is expected that we have a dip in price. The ETF approval didn't change anything in bitcoin price movement, and investors thought that they can predict what the price of bitcoin will be after the approval, but bitcoin has proved them all wrong. This is the time that investors should see as an opportunity to buy more bitcoin to their portfolio and hope for the best future, since bitcoin always give opportunity to those who don't have much bitcoin to buy at various time interval through the dip in price.
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Well, we were all very surprised by the fall in the price of Bitcoin, therefore it is difficult to understand many things, first the approval of ETFs, everyone wonders why it falls and doesn't rise? Sometimes this is something that has a logical explanation, if we look at everything we think that with the approval of ETF the price would rise, but the investors, market speculators are not stupid, they know that if they suddenly lower the price they can obuy Bitcoin much cheaper than before, especially knowing that everyone expected it to go up, Bitcon is actually going to go up, for me this is a whale movie to take Bitcoin away from weak men quickly.
In approximately 3 months or maybe a little more the price can rise and although there is more movement of bitcoin in the markets, that can make the price rise, what happens is that some get desperate and want the price of bitcoin to sua once and things are not like that.
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Today is another drastically dump for bitcoin, not effect yet after six days ETF bitcoin approval can't make easily for bitcoin price raise p to $50,000 after last few hours bitcoin drop drastically until $40,300. Before announcing with ETF bitcoin approval many people expected when approving bitcoin will raise most highest price but difference with our expectation bitcoin drop drastically after ETF approval announcement.
Seems the same with December bitcoin price dump and in this month January not difference yet with bitcoin likely difficult raise to higher price. Have one week left before end of January and how potential with bitcoin ability raise to higher price or keep going dump.
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Today is another drastically dump for bitcoin, not effect yet after six days ETF bitcoin approval can't make easily for bitcoin price raise p to $50,000 after last few hours bitcoin drop drastically until $40,300. Before announcing with ETF bitcoin approval many people expected when approving bitcoin will raise most highest price but difference with our expectation bitcoin drop drastically after ETF approval announcement.
Seems the same with December bitcoin price dump and in this month January not difference yet with bitcoin likely difficult raise to higher price. Have one week left before end of January and how potential with bitcoin ability raise to higher price or keep going dump.
The price correction after ETF approval was a surprise to many of us. Although, my surprise didn't last long until I concluded that whales and the institutional traders were dumping the market to be able to buy more. But then, the market has continued in the decline lane. This is a clear example that the market cannot be effectively predicted. Let's just be hopeful and buy more if possible. It seems the better days are still ahead.
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Surprisingly, we have not escaped the December dump. While we escaped the Christmas day dump, I thought that we have escaped the whole December seasonal correction drama because, obviously it is just few days to the new year from the 25th December.
The market is not a linear curve but up and down continuation. It will definitely continue like this and this price we are right now will be forgotten just the way we forgot $8k and $12k. I think what is important now is to make sure any bad news don't have to bitcoin price like the way we have had in the past. It's even better if this ETF speculations cool of because we have not had any corrections since then, it's a good recovery before the halving.
Surprisingly, it seems the dump wants to happen at the last days of December. Bitcoin has removed his gripping hands from $42k, we are now in the region of $41k and $40k is eminent. Maybe, we have to pray the mempool remains this way. If it eventually decongests and all pending transactions approved, the price will dump.
Mempool doesn't need prayer, it's a human greed that is making the transaction fees to continue like this because of the BRC20 tokens, if they resume back their coordinated attack on bitcoin network, we will surely feel the heat of their frenzieness on the market because the more they pay for high fees, the more miners will confirm their transaction giving them priority over ordinary transactions.
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Mempool doesn't need prayer, it's a human greed that is making the transaction fees to continue like this because of the BRC20 tokens, if they resume back their coordinated attack on bitcoin network, we will surely feel the heat of their frenzieness on the market because the more they pay for high fees, the more miners will confirm their transaction giving them priority over ordinary transactions.
This will only result to argument. Some people will say Ordinals and BRC20 tokens are causing the high fee while some people will say bitcoin miners can have something to do to minimize the fee.
Bitcoin transaction cost have been reduced more than 50% if now is compared to when bitcoin was created and the days of uncompressed legacy addresses. So bitcoin miners can make low fee transaction to occur. Although, that will only occur if miners support it.
How is this also related to human greed? Those that are making the BRC20 tokens transactions are not the ones gaining from the fee, bitcoin miners are the one making profit from the fee.
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Miners are really the least guilty part here, they do not really decide on the fee. They do not say "give me 100 or I won't mine", they say "I will mine the highest bidder first", so if the highest bidder is 2 dollars, miners will have to get that, if it is 100, then they will get that. Its not even really the ordinals neither, that's not really the cause, they do use a lot, but by logic, if ordinals leave, and we still do transactions to cover the difference, then we are back at square zero. So what we need right now is either a change i nteh system, like more transactions per block, or something like that, OR we need to just stop with transactions for just a few days, a week max, and it will mine every clogged one, and only the fresh ones will be left, and do this for like once a year to make it go back to good levels. Which I know won't happen, but its a great method if we could have done it.
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The price correction after ETF approval was a surprise to many of us. Although, my surprise didn't last long until I concluded that whales and the institutional traders were dumping the market to be able to buy more. But then, the market has continued in the decline lane. This is a clear example that the market cannot be effectively predicted. Let's just be hopeful and buy more if possible. It seems the better days are still ahead.
beyond predictions, and that is clear and real even though the ETF earned quite a lot of Bitcoin in a week, but as you said, there are those who are looking for opportunities in new things, so when it happens, it is inevitable that Bitcoin will be corrected. It is clear that the market is difficult to predict because there are many problems at play in every movement, but fortunately it is currently recovering, even though it is not yet optimal. The influence of the approaching halving era is also unavoidable.Hopefully the days ahead will continue to get better, and of course, that is eagerly awaited.
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Surprisingly, we have not escaped the December dump. While we escaped the Christmas day dump, I thought that we have escaped the whole December seasonal correction drama because, obviously it is just few days to the new year from the 25th December.
From December last year, till this time(February this year), so many of us have anticipated the price of bitcoin to fall at least to acquire more of it, but the longer we wait for it to happen, it keeps disappointing us by increasing in price, and the price increase seems to continued since the bitcoin ETF was approved. Very soon Bitcoin halving would start, and the price decrease would come when the halving and the bull run are far from over ''Probably by 2027"
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Those that are making the BRC20 tokens transactions are not the ones gaining from the fee, bitcoin miners are the one making profit from the fee.
When NFTs started, they were on the Ethereum blockchain, but as fees increased, we found that they moved to polygon, BSC, which is exactly what will happen to Ordinals and BRC20 tokens, as they will turn into something ordinary that has no increasing value, which will put pressure on issuers to try to reduce fees, which will make them move to sidechains and the Lightning Network.