Quote from: Sayeds56 on Today at 10:38:13 AM

Quote from: yudi09 on Today at 10:07:38 AM

Quote from: _BlackStar on December 04, 2022, 04:00:56 PM

Quote from: yudi09 on December 04, 2022, 02:18:17 PM

Bitcoin closed November price at $17.1k and started December at the same price based on UTC time update. Now Bitcoin is trading at $16.9k and was trading at $17,050 at 12:15 PM according to the CMC chart.

We are still waiting to see what will happen in December and the price of $17k is still a price that will hold on despite the difficulties in the market.
It is highly probable that the price will cross the $17k to be traded this week.

The best price range during december is $17K to $20K, I think that's more convincing than going down to find the lowest price. $17K will be support as bitcoin price strengthens in December so I think we will soon leave strong $16K support untouched.

However the FTX case will continue to impact the bitcoin price in the market for the rest of the year so the possibility of a rebound to $20K is hard to imagine. Bitcoin needs more support and trust after the FTX crash hit crypto, so it's taking a while to get back to $20K. But now that market conditions are looking much better than the start of the FTX crash, this is a positive.

The market is currently showing a positive movement even though the increase is still a small percentage of around 1.7%. I agree with you that $17K was price support in December.

The incident that happened to FTX was unavoidable which had a huge effect on lowering the overall price of the crypto. But if we look at the market situation has started to improve. Of course it will take time and other support to get back to normal as we hope for at least this December to be back at $20K.

The opening of Bitcoin market in green this morning after weekend, is definitely encouraging for market participants but we need to wait for opening of US market in the evening to see this positive trend continues and price is consolidated above 17K during the current week, then we might see Bitcoin moving towards 20K in coming weeks, if decaling trend in inflation continues in coming months.

Last 24 hours, yeah it seems that we are waking in the right side of the bed, it's above $17k now.

So we feel good seeing it going green and the only thing that we can hope is the price sustaining this run and hopefully at least a good $17,500-$18k at the end of the week.

Positive sign indeed, at least though, everyone of us survived the first year of the bear market, and then we will have another one coming 2023, so we should all braced ourselves again.