Bitcoin Forum

Now that Michael Saylor and El Salvador have purchased BTC at $19,000, we can be certain that the bottom is nowhere near

How is literally anyone buying bitcoin be a sign of a near-bottom? Not to mention that this isn't even the first time Saylor or Bukele bought bitcoin.

So if a popular person, company or country bought Bitcoin in certain price, they always bought at the bottom? lol, this is really a bad assumption.

Actually they're bought every dip, before $19K they ever bought at higher price and this doesn't mean they're lose hope in Bitcoin. They're telling people to trust Bitcoin by buy every dip, not sold your coins because of panic.

I bought 0.1 BTC today and let's call it bottom. That's too stupid of you to assume that someone's buying may call it a bottom.
That's not how it works buddy. There is liquidation, volume, supply, demand, institutions, and retailers working all together to bring prices up and down.

Also, Saylor's buying is a sort of short indicator and prices do drop from the price of his buying which happened yesterday. Went from $20k to $18.5k.

El Salvador bought bitcoin when bitcoin dropped to $30000, recently, like few days ago, Microstrategy bought more bitcoin, and El Salvador bought bitcoin again today at $19000. Do you mean because Microstrategy and El Salvador purchased bitcoin, the price will not go down further or that the price may still go down further? Just know that this time is a bear season, it can last for a whole year, even a slight bull market can deceive. But bitcoin does not depend on anyone, just buy and hold for now and leave it for like 2 years, the bear market will be over and a strong bull run will follow, but this can be after next bitcoin halving.

You should do a quick search and see what DCA means. Because what Michael Saylor does is DCA. He buys whenever he has money for that, no matter the price. He has done that in bull market, he does that in bear market.
And since he's at a potential loss now (the USD value of what he's bought is smaller than the price he has paid), also means that there's absolutely no correlation between bottom and Michael Saylor's buys.

How the heck would you know that it's the bottom? I know they are significant players in the cryptocurrency scene, and they have a lot of BTC in their belt; it just doesn't make sense that it's nowhere going to be near the bottom or something.

Your topic doesn't have any complete sense. It's nowhere near the bottom, so are you saying that those who bought at $19000 are the indicators?

Or you are saying that since people are still buying at $19000, there is still a chance people are still selling at that price, right?

Possibly. The FED will keep increasing them rates till the end of the year. (so they say) So we can expect more pain till January. BTC is trying to defend $19k bravely but sadly there are more paper hands and diamond hands. In the end there will be a price floor for btc. We just don't know if it is at $19k or $10k or lower. But when it stabilizes there, the next upwards movement will be pretty wild. Probably $100k or more.

They've been buying since bitcoin dumped from $50k and we still keep falling after that so how can you say we are near the bottom of this dump? Don't treat them as the signal of reversal. Bitcoin can still dump given the current global market situation. They are just DCA-ing like what others are currently doing because no one knows how low this correction can go. Some people says that it would hit $13k making 85% correction from its ATH based from its historical correction when it reached its ATH way back 2017.

Your assumption may not be right. In fact they might be part of those that are not sure of the next price movement and they decide to go in now. So even that more hands like you and others jump in with them to push price up, the price will still drop if the bear circle has not complete.

FOMO is not only happening to small hodlers or micro individuals. They might be experiencing that likewise and couldn't wait to regret more. I don't really see your assumption as tangible. Also remember that the month ended still on bear so there is possibility that it can drag price down further.

Dont depend on what celebs are doing to decide you buys or sells. Bitcoin might take time to recover so you have to keep both sides ready.

Bottom or Peak, it does not really matter, just treat them as numbers and compare with old charts how bitcoin recovered from every so called "bottom". Also do not assume any price to be a bottom, a downtrend once again is possible but there will be recovery, just that traders need to stop thinking that this might be the end of the bull/bear.

There is money to be made at every level, just that you have to be cunning enough to wait and buy-sell at the proper time. You may miss out on some, it does not matter, but try to make the most of the bear run.

Well, every time Bukele buys the dip we go further down the slope.
The only thing that might point to this being actually the dip is that this buy of 80BTC seems to be the smallest to date, so for a trader doing everything wrong to date this might have been the time to go all in. Unfortunately, I wonder how much money Salvador can afford to "invest".


I don't see how what he does can be called DCA, if you stick to DCA you have to stick to a schedule and of equal amounts, buying when you have money is nowhere close to it, is just gambling. One of their buys was equal to 1/3 of their total, no average to be seen here..

https://i.redd.it/i1894ylegjj71.png

LE:
I know the chart is incomplete but every single one that was showing 2022 was just ugly as hell.

You do have a point indeed. I'd say that he does the DCA in the same way I do it: buy (periodically) whenever you have some liquidity available.
The thing is that he doesn't always have at hand as much fiat as he'd like. At least that's how I see it.
But you're right. It's not exactly by the book.

Crypto currency prices are 99.99 percent unpredictable, it is almost impossible to to tell when the deep is, we cant tell if the market will reverse and start going up or continue to dump.
That some entities or individuals bought Bitcoin is not something to depend on a means of ascertaining whether the bottom is near or not, Celebrities bought just the same way me and you have been buying ever since the drop in price began, If the price of Bitcoin turns around now and start going up , the fact celebrities bought it have little to nothing to do with that in my personal view.
When more persons are buying Bitcoin, price will rise, but when more persons are selling, price will drop, it doesn't matter whether a celebrity bought it or not.

Don't try to find a bottom. When you have believe in Bitcoin and see a price falls 70% or 80% from its latest all time high, you can consider to accumulate it.

The market now is like the one in 2018. You don't know how long will the bear market last and you can not know where is a final bottom. When a new bull run starts and tops up like reaching to $60,000 in 2021 then it does not matter you buy Bitcoin at $6,000 or $9,000 or $13,000 months or years ago.

Now, it is the same situation, bottom can be $17,600 or $12,000 or $10,000 but is it matter if a new all time high in 2024 or 2025 will be $100,000 or $150,000 for one Bitcoin.

Don't take it seriously. Many investors will think this is the bottom and that's a good thing for all the holders but that doesn't mean this is also a sign for a bull to happen again. That's just two, let's wait for even small investors to get back to track as the economy is nowhere normal yet. Who would buy at this crisis? We cannot expect the rich to do it as they are also pessimistic about any investment now.

Pres. Bukele afaik also bought at $50k and didn't sold when the price went ATH.  For traders I think it would be stupid for not selling but both of them Saylor and Bukele are in BTC a long term. It wouldn't matter to them if its bottom or not.

But perhaps this time they care to listen to when the right time to buy because after all the indicators are saying bottomed.  I bought a little bit of BTC too hoping this is really bottom.

These purchases may have an impact on small traders, but they cannot affect the market in any way. And the purchase of MicroStrategy 480 BTC, can not change the average cost of the position, which is now a little more than 30 thousand dollars. These purchases indicate that Michael Saylor is optimistic about the current bear market and believes that the value of bitcoin has reached the bottom, at which the investor needs to make purchases.

I think for that it will creat small impact. But for big impact need big news. Like Ukraine, Russia war related good news. I also think $15.5k is bottom level of Bitcoin. We are still in bear market. So predict the bottom price of bitcoin is really tuff. For up train market we have to wait. And also have to wait for understand exact bottom level of bitcoin and total currency.

They literally affect the markets though. Both entities literally made buy orders, affecting the orderbooks in a positive way; and both entities have been showing long-term bullishness despite the price drawdown. The only question is, will their influence have a significant and noticeable effect on the markets? Most probably not, but they technically do have a positive effect.

Or maybe they're just being smart by not trying to fish for bottoms, and instead are just buying slowly.

Saylor actually first bought Bitcoin at $9000 or $10000 or so and he bought it in size. So just because his recent purchases were all losers doesn’t mean all his buys are bad.

I don’t get why he would keep buying higher and higher and mess up his average price. If he just waited for pullbacks instead of buying at the top, he would of had a much better average. He has a high average of $30K now and his lowest buys are at like $10K.

For me, if I have the money to buy Bitcoin now I will do it at once then hold. I doesn't matter if the price value will continue to drop more if the future. Because for me it is simple, last year bitcoin spike at 69k$ almost and look at it now its below 20k$ that means you are already in earnings once Bitcoin price resume to its original value in the near future.

They buy more bitcoin's at this current price range only to think that this was the bottom but what about the price lower than this one? Last time, we have been at 19k,18k,17k, and lastly I think was 16k dollars. Aren't those value's the real bottom of bitcoin? But, I think they didn't buy anything during that time since I don't see a news that comes out in regards to it other than this one here.

Oh well, 20k is still a nice price anyway even if it's not the best and they can still make a huge return as long as they will hodl their btc hard enough which is obviously they will be doing since they are big investors and somehow a pioneer on this field.

Don't get trapped by the Bulls. El Salvador and Micheal Saylor are just applying DCA and nothing much. The Bottom is no where near yet. We should likely expect a longer bear candle any time soon. Their purchase will only have effect on short term trades and investments. Have this in mind both parties bought with large sum and could close up with a little increase in price. Small capital investors are meant to have good price timing the bottom could be far from here

For now, I don't think bitcoin have bottom no matter who buys. Because even these guys have bought almost the top. But let's hope its buttom  ;D

they did that things many times to be honest, where in since the market fluctuate from the ATH about negative 30 percent.. But guess what! There's no improvement. Lol  so how can you tell that the buttom is near, because of that reason? You must be kidding  :D

This is one of the most superficial analyses that I have ever seen, just because a person or a group has bought bitcoin we cannot declare that the price is going to keep going down, there are some technical and external factors that do indeed point out to the possibility for the price to keep going down, but this is not really one of those factors, I will suggest that you try to learn more about trading and investing in general otherwise massive losses are without a doubt possible for someone trading with such a superficial knowledge.

How someone buying bitcoins in a bulk is a indicator for you lmao?
They are just using their big brains and trying to take advantage of the situation.
They know the true potential of Bitcoins, for that reason they bought the Bitcoins in stead of panicking.
We have already seen what are Bitcoins capable of when it rose to 69k usd, leaving everyone in shock.
So this time also many experts and knowledgeable persons are buying as many Bitcoins as they can in this bear market.
Now only waiting when the price will rise high.

I think that isn't a reason enough for Bitcoin to reach its bottom. There are lots of aspects that could affect the price of Bitcoin and people purchasing it is not an indication that its price could drop down a lot. Many investors are taking the opportunity to buy Bitcoin so we should expect even big personalities to purchase more of it.

There is a difference between the purchases of these people and the amount of what they consider serious risks.
a billionaire can invest about $ 5 million, but it is considered side money for him and he wanted to diversify investments by buying Bitcoin, which is different from a technical analysis institution that buys with that amount, which may represent 5% of the total net wealth

What I'm trying to say is that the buying and selling of others does not affect your investment decisions, put a dynamic strategy that can be implemented and stick to it.

I am 100% sure and I agree that the Bottom is at a price of $17k to $19k,
because it has been proven that the current Bitcoin price is also increasing,
there is a possibility this month Bitcoin can reach $30k again, so don't miss this bullish.

So when they bought it when it's not this price we can call that a bottom? Of course not, they're just the celebrity speculators and Bitcoin maximalist, and they don't have any crystal ball to tell it's the bottom or the top. This is the reason sometimes people weep over their investments.

Because ichael Saylor and El Salvador purchased bitcoin those not mean thats the bottom for bitcoin, we might still go lower, so dont be happy yet that we wont go more dipper. Bitcoin might still dump more but all i can say is that we are going to bounce back hard, but i dont know when that will be but i know it will be soon, so the best thing you can do now is to accumulate more bitcoin if you are having more extra funds that you wont be using for now and if you have bought bitcoin before just hold and lets wait for the next bull run.

As a trader, one should not listen to what people have to say to influence their decisions specially if they are celebs and have a big influence on the common people who are dumb enough to follow them like they are some supernatural being.

If bitcoin does go up after getting this news traders should sell and book the profit. Of it does not go up just wait it out.

Nobody can predict but only speculate th future. Don't put your money into other people's words.

You depict what you think is the bottom. These whales are buying and it seems that they have an unstoppable purchase because they are heavily funded.
I remember the time when the LFG has been buying bitcoin weekly but we don't see it coming that they're about to fall. But that's completely different from the two examples given by OP. I've just mentioned it because I remember them became trending because of their purchases too.

Honestly, I would like to hope that this is already the bottom, and then only growth. But, I wouldn't be so sure about that just yet.

Need a week or more to stabilize and if it was able to climb back to $20k range and stay hover at there all the time, not dropping any lower back to $19k. If that is a thing, I say we are bottoming out. Not bull season yet but the price will be better and improve the overall market outlook, at least I can welcome that.

Let's say Elon bought Bitcoin at the $30K price point, does it means that was the bottom. The bottom doesn't create by investors, the bottom creates by the seller lol. If you wait for the bottom then your life would end and you can't accumulate for the bottom. It's because we don't know where will be bottom exactly. Otherwise, everyone will wait for that. You should have a bottom target to accumulate. Then you have to proceed accordingly. Don't see who is buying or selling.

We are already on 20k price point but the hardest decision you would really make is neither consider on making  that 19k price as a bottom whether it would really be the last drive down into its price before we do take off.We know that this is something that we cant really able to determine on whats the bottom as always which the hardest part is on when the price starts on moving sideways which it would really be raising up questions whether it would really be having that next pumping move or would plummet the price even more which could possibly hit those 8-12k mark on where the community had been always speculating?
No one really knows thats why whenever you do make yourself in position then it would really be depending on someones analysis and risk taking on entering the market into its current price level.

this is the bottom of bitcoin this season, but from some people speculation it's quiet understandable that bitcoin is not going to fall to the people prediction, because they are expecting Bitcoin to reach or fall below nineteen thousand, i don't think it will reach like that, because i believe everyone is just making analysis of their choice because of the critical condition of cryptocurrency now.

Everything is possible these days especially when Bitcoin started to fall below $20,000.
When Bitcoin started to fall by $30,000 this year, I am not expecting we will see $20,000 but look now, Bitcoin is fighting to stay above $20,000. That's why you should be expecting a lot of things in Bitcoin, that's how Bitcoin volatility is.

Looking at price action ATM on a HTF,  I won't be wrong to say that this could be the bottom

Based on TA, there are several reasons to say that we have bottoming here.

Nevertheless, because market can stay irrational longer than you can remain solvent, then it won't be surprising to see a violent wick down but still doesn't close below the current level on weekly
As usual, these are not predictions but opinions based on PA.

Finally, we now have a very very difficult task ahead of us technically, and that is getting back above 40k

Don't be surprised if we just range between 16k and +40k for Several Several Months

And if this is not the bottom then expect winter because there's also a very scary chart pattern that makes us really want to see price get back above 28k.

They have purchased bitcoin earlier also so was that bottom sign? No,thier huge investment could push the prices little up but there's no guarantee that they will not go any further like any negative news could effect it even worse.At this time prices are in $20k range and they can go up or down don't know exactly.

No, you can't just draw such a thing as even these buyers haven't known yet. They just take the chance and they still buy more once the price move down again.

It couldn't be the reason as some institutional investors/whales have bought some below $19k. As if that is only our basis then we can say that the market is manipulated which is not. Only we can see of the market itself shows some significant uptrend motion.

On the other side, they are looking at the opposite view of the market and what they will possibly get after this. In fact, El Salvador has been doing this, though we thought that they don't have such long market experience, however, I think they already know what they are doing... that is absolutely right. As you are in this form of investment, you shouldn't have to miss the great opportunity as it sometimes never happens again.

I think the speculation is on a high point instead of actual movements in the market. While speculation leads the market, it is not happening right now. There are times like this where stagnant markets predominate but they gradually change over.

I don't think there has been a huge impact though. Whatever be the effect it will probably be forgotten. Right now we need a trend changer which happens gradually.

As for buying when some celeb is buying - I would say no. Because influence leads to bad choices.

It is difficult to know what it will happen, the next bull run is very far away so it does not seem unreasonable to think the price can drop even further than what we have seen already, after all the price is barely above 21k and it does not show signs that it is going to recover significantly during the next weeks, besides even if those which have a great deal of money are buying right now they are doing it in such a way to not bring the price up, as they prefer the current lower prices so they can buy all the bitcoin they can with the fiat they have available.

It's so interesting to follow similar topics :) The most interesting thing is that for many, the concept of the bottom diverges a little from each other. If someone thinks about the bottom at around 19, then for some, the bottom is at all at around 0.

You asked a question that can't be really answered unless someone from the future came back to the past and accessing this forum and saw your question and answer for it. :P

Well, based on the analysis yes but it can be wrong as well so just decide that and purchase Bitcoins.

The bottom is still yet to come because many traders are still hoping for the further dumping of Bitcoin from $19k to $10k while others are waiting patiently for it to hit $0. Isn't that unbelievable? Yeah it is. Bitcoin fall all the way from $69k to it's current price, when the whole people thought Bitcoin will make it to $100k price, that was then the beginning of it's massive dump and cost people to lose heavily in the market. Let's wait and see what the coin will hit next in the next bearish season.

Correct. And it's not up to two personalities or 1 country that has "recently" used Bitcoin as their legal tender.
The movement depends on demand and purchasing powers but I don't think the names given have that, for now.
When the war started and the economy fell for many nations where I always blame for why Bitcoin fell but that's not the entire reason behind it, maybe just a part of it.
Bitcoin has a history of corrections every time it reaches a new ATH and it's happening again.

At this point anything can happen, however the possibility of yet another drop is in fact there and I think it is more likely than a large increase in the price of bitcoin, and while this may seem as if it is something bad this is not really the case as this will give us the opportunity to buy bitcoin for a very low price, and if we take advantage of the opportunity then the profits we will obtain during the next bull market will be impressive.

Well, we could think that they have bought BTC because it is relatively cheap, and compared to their last ATH if you buy at $19k and then increase to $70k it is not a bad deal, in fact it is one of the best deals you can do with a ROI possibly less than 3 years, and if they are people, countries that have how to do it, why not do it? although to move the market you need to move with at least $1500M to see some movement and that the charter is seen somewhat, but meanwhile with few BTC it will not move, if it serves to generate more money in the future, and not I really believe that the btc will fall more.

Yes, it would have always been with the demand that shows the market whether we're on low or high.

That had became a domino to all. And this worry has also started during the pandemic and we thought that instead of getting into the bull, an unstable and bear market would have come out by then.

Now that we've experienced the fall of the market, we just need to wait until how long it will be this low.

What we should we expect in Bitcoin is the increment that involved in cryptocurrency and their special in Bitcoin, because right now more person or investor that is ready to lose it's investment. Yes we all know regulation of cryptocurrency. Especially when the price is high and when the price is low. As investor what will have in mind is the acceleration of cryptocurrency not the degradation of cryptocurrency. The price is not fixed is something that is changeable so we don't have to passion blames

Since you are posting from a newbie account I have to welcome you to the forum but I suspect this is not your only account  :D

Regarding the bottom is nowhere near comment, what are you referring to? What was the motive for creating this thread when it literally has no meaning at all. Can you elaborate?

If you are not a day trader you shouldn't even care! You know it's going back up within the next 2 years so just buy,hold and take profits on the way up.i have 2 different buys.one is hold for long term and the second is take profits on the way up

You are definitely right on this one on where if you are a long term holder then these movements wont really be an issue because you would be holding for future years and the selling point wont really be that a

stressful thing for you to do so but everything changes or different story when you do make out short trades and speaking with bottom then we had presume that 17k was the one but we cant
really be sure since we are still sitting around 23k+ as of this moment.

For now its not really that bad to make out some consideration on getting in on the current price while its still cheap and overlooking on the ATH then its not really
a bad for you to get in with these cheap prices.

That may or may not be the bottom. It’s hard to tell where the market will lead to. Let’s wait for the future to decide this.

What happens is that uncertainty attacks traders and investors a lot, not so much traders, because traders can operate in any direction, because they are dedicated to winning in any market direction, I think everything is focused on investors and those who want to buy BTC, many believe that the bottom has already been reached this time, but we cannot rule anything out yet, there are many rumors that a recession is just around the corner and if this happens it is likely that the BTC price suffers and may go even lower than last time, I hope it doesn't...yet.