Quote from: Jating on December 13, 2023, 11:59:31 PM

Quote from: wmaurik on December 08, 2023, 03:30:18 PM

Quote from: EarnOnVictor on December 08, 2023, 11:30:49 AM

To sum it up, we have a positive sentiment regarding Bitcoin now and this will linger for only God knows when. According to my experience with the asset in particular, there are times it falls and there are times it rises, and in practice, it always locks a very good and sizable amount of the price below it every 4 years during its major bullish season. This is what is causing most of the excitement we see now because if you limit it to the news and big companies buying Bitcoin alone, are they not buying it before?

That is also quite true in what you said based on existing experience, because I also quite believe in the main bullish season after every four years and this is also very visible from the reality in the market. Now there are indeed many people who are happy with the improving conditions which can be considered bullish at this time because I personally am also quite happy to see this happen at the end of the year so the hope of seeing more recovery in the market will soon become a reality.

But if you look at it right now? It's very bullish as we might say that we enter the bullish state very early because of a lot of good news that is coming in the crypto space. But it's the halving that will really change he air around us as it will be the catalyst for the next bull run.

And we've bounce back already, 3%++ in the next 24 hours. It's just a minor dip and it is to be expected. But then again, investors are very quick to scoop some bitcoins when it dip to $40k'ish and now we are at almost $43k again. So I guess the target of around $45k at the end of the year is still on the dot.

Looking at the overall outlook of Bitcoin, yes, one could say it's bullish, but the market outlook is beyond that, we can witness bearishness within the wider scope of bullishness, so doesn't matter. I'm glad I started warning of the potential bearish movements of Bitcoin before it is happening now, I knew it was too heavy and needed some corrections. The weekly and daily charts are so much cooperating in this regard and the coin is yet to be out of the woods as it tries to find its path before the week runs out. Besides, Bitcoin recovered a bit and easily on Wednesday as a result of the many US news that have to do with the Federal Reserve's positions on the economic projections, which include the Federal Funds Rate and others, and I know that they can't sustain Bitcoin for so long. It seems that it would get worse if the coin could not overcome the present bearish outcome that is being created gradually. If care is not taken, it might hit $40,000 soonest and a break of that level would announce it to a further lower level even as I see the Fibo level of $37,200 very promising now. In another view, the level of $41,900 keeps calling, I believe it would be hit today, and a breach below it might be what will eventually announce the psychological level of $40,000 without any delay.