Bitcoin Forum

 ;)

Someone Big Again Just Bought 12600 Bitcoin all at 60k  love it https://ibb.co/mCxKhNS

Telling me we going up very soon

Interesting the inflow never been lower.
https://ibb.co/ZhBRhfN

Might be time to buy ;)

I can't see any buy order or filled order here. You are basically assuming that every outflow from coinbase is a purchase. It’s possible that someone was holding/trading coin there. It's possible that coinbase is supporting other exchange or company or what not.
Before make a conclusion, be sure what you are saying, dude.

Every time you post one of these, somebody has to remind you that withdrawing bitcoins from Coinbase is not the same as buying them. I guess it is my turn this time.

Right now, the interest accorded to Bitcoin by institutional buyers remains to be very bullish, and I am not surprised if soon we can hear many reports of this and that taking advantage of the opportunity to buy and hodl this dear coin. As the market is expecting that BTC can soon be reaching the $100K level, we can expect more and more people to consider this digital asset primarily to invest and make more money. This is the time to really ponder and to make sure that we have Bitcoin in our wallet.

Not all outflows from an exchange most especially from coinbase means someone bought. For all we know, this could be Coinbase moving Bitcoins back and forth from cold storage or whatever it is they store their funds or even a whale withdrawing his/her stash. Either way, don't make conclusions until official announcements are made. Aside from that, you're only speculating.


The overall bias across the market is bullish so I don't see why inflows would be on the high side considering everybody wants to either buy more or continue holding what they have.

These whales cannot be understood, maybe this is some kind of trick again, to regulate the price on the market and to cut the hamsters in the future ... Or, of course, the price will increase significantly, but the first option seems to me more realistic, time will tell.

bitcoin price fell down to 56k days ago why bought at 60k today?  ;D

But Goodluck and I hope that you'll make it profitable for at least this whole year.

Yes,,, looks nice at first but as someone has already pointed out,,, not every outflow is a purchase. In fact, outflows usually mean people are just withdrawing when they have decided to stop trading. Maybe the guy had two or three times that amount, and has sold most of it at 60k and now decides he will hodl the rest?;)

It's completely correct, but let's see it in another perspective : someone has decided he is not going to trade them right away in the near future and keep them stored safely in their wallet, so less in circulation ( for a bit) and it's beneficial for the price.

Now let me tell you why this is dangerous:
This is nothing which is a manipulation from the side lines , people would now panic buy which would indeed increase the price depending upon the audience who sees this now people who did spread this news are the ones who would then again sell their Bitcoins to gain profits for the short term and at the same time hitting a low , which go even more down due to panic selling. Now those whales will just buy those BTC again at a much lower rate. At the same time this might just be a whale changing their wallet to a more secure one and at the same time might be someone who would be selling, who knows ? Can we be sure ? No ! Therefore stay away from such manipulators. These news are useless for the market honestly.

Seeing the amount of BTC I do believe that someone just wants to move them to a much safer location. Like a hardware wallet or something.

I’m thinking if there is a bear market to come ideally I would cash out on the way down and buy back near the bottom of the bear market. I’d like to say just hold but if there is a major correction I would hate to see my profit go to nothing and take years to accumulate if I HODL. It’s all easier said than done.

actually.. someone with 12k coins wanted to merge a single coin and put all back as 'change' in their same address
https://www.blockchain.com/btc/tx/b8808c3be4c77edaf448edfe3c7c6c0bfc955fe5f64ad0547e180235d6884025

coin movements onchain do not show whats happening on market orderlines

a better metric is to look at how many coins are in known exchange cold wallets and watch if they increase or decrease if your looking for a 'exchange supply'..its stil not accurate but more helpful that the chart OP was using

EG (76k coins moved between april 3rd-4th)(and yet no one screamed out drama then)

Tell me please when it was NOT the time to buy. You won't find a single year in which buying Bitcoin was not a good idea.

I feel like the fact that the amount of bitcoins on exchanges is decreasing is going to be the real big catalyst of the bull run and it's going to be sudden and unexpected. Now there's a certain amount of coins bought and sold but it's pretty much the same coins, say 2 million bitcoins circulating. When we reach a time when those coins are bought new buyers will find out that every purchase increases the price by a lot and this is when the fun will start.

As it stands now, the best way to gain much profit in bitcoin is to invest hugely. Bitcoin price is on the high side now ($60k) which the price keeps fluctuating now and then.
Bitcoin correlation will soon happen by then I will think of investing with my spare money cos the market is damn unpredictable to forecast what happens next

I don't know, but someone buying 12600 Bitcoin is hardly a news nowadays considering how many bug names are interested in bitcoin, no matter the price the the fact that's 756 million USD. I mean, Grayscale often bought even bigger amount in a single day, so as I said, just business as usual.

I do agree with other part, that we are most likely going up and that we are nowhere near the top of this bull run.

Everyone here agrees that it is not necessarily a purchase. It may be a transfer only, but although I am not surprised if it is a purchase because everyone expects bitcoin to rise to a new high at the present time before making the expected correction, so it is very possible that one Whales want to take advantage of the expected bitcoin rally before the next correction.

The price is definitely being suppressed at the moment. Maybe it’s on behalf of coinbase with their IPO set to launch Wednesday & then BOOM up we go. There seems almost artificial sell pressure at 60000. There’s nothing special about this number so I think we are being held down.

How many fees were paid for this transaction?

Just to point out, Grayscale is a fund managing company, they do not invest their own cash flow into Bitcoin, they rather serve as a bridge for institutional investors who wish to own bitcoins. This means every purchase through them doesn't come from them or from any one investor.

Even though public companies are buying big into bitcoin, that amount from a single retail investor is huge.

The only reason stopping people from going all in right now is the price.

To newcomers it really looks like the peak and they think it's a good idea to wait and see if it corrects and then buy but in the meantime the supply decreases and their window to buy is closing.

We're probably going to be either near 100 thousand this time next year or in a bear market following a correction from 100 thousand.

Well.. this is true. I have heard from a lot of new users that they are opting for altcoins, because Bitcoin is too overpriced now. I tried to convince some of them that rather than looking at the unit price, they should pay attention to the market cap. But it is very difficult to convince these people. Also, the Bitcoin dominance (54%) is much lower when compared to its userbase. Altcoins make up 46% of the total cryptocurrency market cap, but in real life usage they have less than 10% share.

If this is true, then it would confirm my argument that now matter how high the price of bitcoin is, there will always be people who will buy. Many people believed that with the increasing price of bitcoin, it will get to a point when bitcoin will be so expensive and unaffordable. My theory? There will always be buyers.
However, like many before me have mentioned, it is most likely not true that someone did buy those coins. It's most probably a movement of asset. I think it's better we wait for the announcement so as not to mislead others with the news. You should know though all indications point towards the falsity of the news. The price of bitcoin would have gone up with that purchase but it's still trading at around $60k

I am also sometimes confused knowing the price of Bitcoin is already very high, but there are still those who are interested in buying Bitcoin.
Even though the dominance of Bitcoin has fallen far enough to 54%, meaning that many investors are starting to choose to invest in altcoins.
I myself would not buy Bitcoin at $ 60k, because there are still many altcoins that are much cheaper and have the potential to provide more
profit than the profit that can be obtained from Bitcoin.

That was the perspective that was in both perspectives, the original and the one I proposed,,, whether he sold some and kept the remainder, or he bought it all and withdrew it,,, obviously when you take out such a large amount it is for safekeeping on your own wallet. So yes,,, either case it is removing available supply. Bitcoin ATH now is happening by the way;)

Well, we can't blame why newcomers are having a second thought of buying Bitcoin because its price is now over $60k which seems kinda expensive and late to get it. That could also the reason why they are choosing to place their money on Altcoins since it is way cheaper compared to Bitcoin. Currently, Bitcoin drops its dominance at 54% from 60% for a couple of days and that data shown is enough to tell that folks are now going for Altcoins. But in spite of having a lower dominance and for some sort of reason Bitcoin was still increasing and breaking a new ATH.

If this kind of trend continues (whether this is real of not), this will simply increase the price of Bitcoin further. Big purchases by big entitles add to the sort of hype that Bitcoin experiences now. If Big finance and Big corporations are taking notice. Then that is a sign that Bitcoin will simply continue to increase and become more expensive. And I think that is also good for the other alts as well since the rise of Bitcoin will also have an affect on the top alts.

Well that alone isn't just gonna push the price too far.
Who knows who's behind that amount anyway, but it surely tapped the price a bit.
Back then I remember some unknown trader that also cashed out a large amount of Bitcoin from an exchange and it somehow affected the price a bit.

I agree with this because if bitcoin finally reaches $100k this year or next year, while people believe that bitcoin will not stop increase, they will still buy bitcoin, no matter how much the price is.
Even if they can not buy a lot of bitcoin, they can still buy bitcoin by a small amount and hold it, and they can buy it back again if the price is down.
That is what happens if bitcoin is going to mainstream and the mass adoption comes, and that makes people want to buy bitcoin because they can see the benefit of bitcoin for them.
So if the companies, institutions, or even people buy bitcoin in a huge amount, they do not want to late to use the time to buy bitcoin before the price does not yet increase so high.

It’s not that really a big deal when someone buys Bitcoin with that amount because Bitcoin has already been known and famous worldwide and most especially because of this pandemic people now have time to really do their own research and maybe get involved with trading cryptocurrencies. Most of friends who were in stock trading have now been trading cryptocurrencies too and are buying Bitcoin in huge amount in fiat, so I really won’t wonder if someone buys that amount.

12600 BTC at $ 60k is a huge sum. People or companies or agencies buy that much. Because currently crypto players are not only among crypto enthusiasts but many people who are originally from stock players are moving to cryptocurrency because of the huge potential of bitcoin.

The price of $ 60k is indeed a high price, but it is possible that the price will change and experience even crazier increases from now on because of a lot of positive support for bitcoin. Bitcoin is increasingly known after Tesla adopted bitcoin. Even today, Tesla is issuing Stock coins that will be listed on Binance.

This year has been the best year for bitcoin. We will see bitcoin as the most valuable digital asset and many people talk about.

Amazing trend !

What do you think about the impact of Coinbase going to stock exchange ?  ;)

PER (https://www.mypensionxper.com/per.php)

It is really amazing and I think he/she will be able to cut a good profit from it. It is not a little amount and it is really tough to buy these amount at 60k. Then why we are waiting? We should enter the market right now.

Everyday is the same situation.

The best time to buy bitcoin was yesterday, the next best time is today!

it is not the basis for good decision making, you have to do a deeper analysis, use the existing indicators to make better timing. someone mentioned by the OP must have had enough funds to dare to enter at this price, do we also have the same situation? otherwise, we should be more careful in our steps, don't just "join in". It is better to deepen knowledge related to analysis so that we can have a better basis for decisions and are not easily distracted.

If youre that optimistic towards bitcoin potential then you  would definitely do such behavior on purchasing out coins without minding on what price they had entered but for those
who do make out short trades then getting in isnt something that you would do easily.It would be accompanied lots of analysis towards the market because you do tend to
get profits in a short span of time.For those who had entered 59k and risk out that the market might had some increase then yes it does.The price had moved and reached out
new all time high which is amazing to look at. Big purchases on some platforms that can be seen isnt a precise thing to rely on but it isnt bad for you to make out some assumptions
and take some action basing into it.