2022 was certainly a bloody year for bitcoin investors and many drama played out in the crypto space but all that said we have manage to cross the year successfully to 2023.
Perhaps, we can't assume also that 2023 is a good year for crypto but rather expect some dumps. We can't say that we already pass the bear season because even though we saw a few pumps in the market today but still not enough to make us say that we are moving to another phase of the market (bullish). I don't find this become a reason to sell my Bitcoin but rather to keep its hold. The pump is tricky and it is possible will drop again. Maybe I well sell my Bitcoin if the price of Bitcoin will reach $50k again.
We cannot conclude that the pump that occurred at the current bitcoin price will soon enter a bullish period and it seems that the recent pump will only last for a while as some investors who bought bitcoins below $20k will definitely take advantage of the increase to sell their bitcoins. so this will put pressure on the price movement, however if bitcoin is able to maintain its resistance area in the $21k area for the next few days then there is a possibility that the price of bitcoin will continue to increase further and could reach $24k this month or early next month.
Bitcoin is above $21k, and we still have yet to see any selling for a profit in the past few days. Many people buy at a low price doesn't mean they will sell as soon as they make a profit, maybe they still want to hold for a long time or are waiting for a higher profit.
I bought some bitcoins at $16k, $17k, but the goal is still long-term, I accept long-term holdings and make huge profits, not sell now for 15-20% profit. And also, there is no guarantee if I sell now, I will be able to repurchase it cheaper, if bitcoin keeps going up without falling, I will miss a bigger opportunity. I think many investors are thinking the same thing as me.