Quote from: Wiwo on December 03, 2023, 10:46:21 PM

Quote from: dhruvfire on December 01, 2023, 12:07:11 PM

https://www.livemint.com/market/cryptocurrency/bitcoin-surges-2-87-to-its-highest-level-this-year-11701429005470.html

Bitcoin has surged for 2.87% today and reached the highest level in 2023. Does this year has more surprises for us and we can break all time high of bitcoin?

Is a nice site to view Bitcoin almost climbing up to $40,000 which has sprung up a lot of discussions in that direction and many bitcoin market speculators are already predicting a bull return in the Bitcoin market, but for me I am sure 40k is not a enough benchmarks to call it a bull market but rather, we are at a recovery level at the moment and this could possibly holds way for quite a while before any major market break out that could then be considered, the start of a bull market and by then we can aimed and seeing a new all time high (ATH) price.

At this point, we are only seeing some level of recovery in the price of bitcoin and nothing more than that, 2.87% movement is still ok to make some short-term DCA decisions, but then also we have to check the risk ratio.

Whether this is a bull market or a market in recovery depends on when you bought bitcoin. If you bought bitcoin when it was at 15k-17k then you cannot say this is a recovering market when you have made over 150% profit. For me, this was not a strong bullish season as many expected, but this year was a bullish year for me because I made 2x, even 4x profits from investments into altcoins. If we rely on the bitcoin chart, we are in the pre-bull phase and the bear season is over.