Bitcoin Forum

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

meh.

I think the time for hyping and panic selling is over. The price is stuck in $50k range so with or without this news there is only 2 possibilities left that we can see in this month.
1. Price stays here and keeps going up and down between $50k and $60k.
2. Price breaks the resistance and shoots to $70k as the panic sellers of last month become the panic buyers of this month.
There is always someone doing something in bitcoin world. The trend is this and they can only speed it up in one direction or the other but not change it.

Fomo people can buy bitcoin if they fear the news of big companies buying bitcoin, but I can not guarantee there will be price surge for now, anything can happen, but if such news like Alibaba bought bitcoin worth of $20 billion surface, it will make some people to just fomo and buy more bitcoin, but the news might not be. With what I am checking out, the price of bitcoin is not yet time to get to $70000, though if investors like other institutions are setting in and buying bitcoin, surely the price may rise to over $70000 but the price just yet always below $70000 for now.

If Alibaba announce a big bitcoin purchase then the price could pump. It definitely won’t dump if they don’t announce a big bitcoin acquisition though. Bitcoin is a mature market now, we don’t dump on bad news as often or as deeply any more.

We don't know what is the real situation will come in future and also we all know how hyping works so that the other who want to earn with it get a lot of money for just spreading something like this, so if I where you better you should follow the market trend since for now we can't feel the effect of that news maybe if there's something good support to back up that claims maybe we can speculate but not at that higher price maybe lets just see that the price of bitcoin cross to 60,000 dollars again so that we can conclude that figure might possibly hit at the given date.

I thought that Alibaba has already shoot down the rumour already?

Besides the Chinese government is hot on Alibaba and Jack Ma's company, their IPO didn't went on schedule because of regulatory pressures. And with that, I doubt that they wanted to make it worst on the eyes of Chinese regulators by investing their assets on BTC. And there was a interview from Jack Ma in 2019 saying that bitcoin is a bubble. So did he made a U-turn? So again, will take this rumour with a grain of salt.

Wasn't crypto buying/selling banned in China?I'm not familiar with the regulatory frame,when it comes to trading cryptocurrencies inside China.However,this is most likely fake news.
If Alibaba had really bought that much of BTC,we would have already known this information by now. ;D
The Bitcoin market has turned into a joke.Waiting for the next big corporation to buy BTC,just for the sake of pumping the price with another 10-15K USD.This simply isn't serious. ;D

 

Can't find the topic now but about 2 weeks ago, I think someone was saying exactly the type of effect Alibaba might have should it truly decide to put even 1% of its capital into Bitcoin. Jack Ma's got almost the same sort of reverence and fandom that Tesla's man does. Perhaps not as global, but even if half of the country responds positively to Alibaba going into Bitcoin, it'd have some kind of magnitude.

Ma's rumoured to be under intense scrutiny from the CCP though...

Well 20 billion dollar is a Big amount and may lead to price shaking if being withdraw or sold so Yeah this maybe something that will change the movement of Bitcoin and the whole crypto market as it was always a domino effect.

A pump most likely. I mean, that's $20b, not really a small amount so I'd reckon you'd see quite some changes in the market and a positive one. How big though? Probably not so much. I'd reckon it'd only be the company that would make it surge, and that's it. I'm pretty sure people wouldn't panic buy over something like that, unlike when companies started doing so.

As for a dump, it'd be unlikely. There's absolutely no negative thing whether Alibaba bought Bitcoin or not, so I don't really see a reason as to why it would even happen.

20 Billion is just too much for a rumor. Future of Bitcoin is very much unclear, and this happening in China of all places makes even more unbeliveable. Isn't it that time of the year when China bans it again? Also companies need to think of shareholders and this would be too reckles bet considering them. We have no way of knowing if there will be huge carbon taxation on this thing in the future. It would be very surprising if nothing like that would happen.

This $20 billion is too huge an investment and I guess it will affect the market price. We witnessed on the tesla announcement that the price was suddenly going up and I think it will do the same on Alibaba announcement.

But as of now, I don't see any sign of movement of the crypto market price that going up the $50k range price still there and I don't see there was a resistance. I guess, it would be today or tomorrow, who knows if the market will suddenly to the moon in just a matter of an hour.

No, the price of Bitcoin will not pump or dump after we learned that Alibaba was buying or not. Why should Bitcoin's price react that much to Alibaba? How would you imagine Bitcoin, which has a total market cap of more than 1 trillion in US dollar, easily affected with just a single company's decision? It will definitely help promote Bitcoin but it does not mean the price will automatically pump or dump only because of it.

Well if that is true then Bitcoin will definitely pump and if it is not then there will be no changes no dump or whatsoever, it will still increase but slowly. $20billion is no joke, that would shake the market, it will bring hype resulting in FOMO and we know how Bitcoin pumps after the TESLAs announcement. Personally, $20billion was too much to be true and if Alibaba has certainly bought that amount Bitcoin's price has already surging up but what I am seeing is a slow back and forth movement. Anyway, let's wait on the 13th of May.

I think someone has discovered a way to profit from companies publishing their reports for Q1, without actually having any truth about them having anything to do with investing in Bitcoin at all. Just a few days ago, this rumor surfaced "Facebook will announce they hold #Bitcoin (https://bitcointalk.org/index.php?topic=5333562.0)", which of course turned out to be one big nonsense in the end.

I have to admit that this is the first time I've heard that Alibaba has anything to do with Bitcoin, so it seems to me that this could end up as an FB rumor - because $20 billion is an amount that does not seem at all realistic in this context.

If this rumor turned out to be true, then Tesla and $1.5 billion would be a small baby compared to this investment - so the title is a bit strange, because $70k is too low - and there is no point in talking about a dump, such investment would certainly have a very positive effect on the crypto market.

But, I'm not seeing any spike when some $20 billion entered into bitcoin market. Most probably it may remain as rumor. Still there are a lot of possibilities for them to have bought for such a big money in multiple days. But, $20 billion must be a very big money and people who are regularly monitoring bitcoin market along with volume might have noticed that. Let's wait for any official confirmation before or on 13th May.

Tesla told $1.5B was invested by the month of January itself and that times bitcoin was trading around $20k levels so there were possibilities as prices were continuously increasing in January/February/March.

Exactly. You can't just covertly buy $20bn without affecting the market price (aka make it go up)

Lets see

1 coin        = 58k
10 coins    = 580k
100 coins  = 5.8m
1000 coins = 58m
10000 coins = 580m
100000 coins = 5.8b
350000 coins = 20.3b

So 350,000 coins must be shifted.

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html


the top 100 wallets above hold a lot of unknown coins.

https://bitinfocharts.com/bitcoin/address/1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ  104k+

https://bitinfocharts.com/bitcoin/address/37XuVSEpWW4trkfmvWzegTHQt7BdktSKUs       94k+

https://bitinfocharts.com/bitcoin/address/1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF          79k+

https://bitinfocharts.com/bitcoin/address/3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb             73k+

https://bitinfocharts.com/bitcoin/address/bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6 69k+


the 5 above are the largest address with no known ownership they have enough coins to provide 20 billion dollars worth.

So private sales are possible.  And the coins could change.

I see 63 unmarked addresses holding well over 1 million coins.

I believe we might also see Bitcoin in an “extended bull market” during this current cycle, simply because or BRRR money printing to stimulate the economy during the pandemic, and more institutional investors buying and HODLing Bitcoin as a hedge BECAUSE of BRRR money printing. 8)

if Alibaba had such a massive investment in bitcoin ($20 billion is huge) they would have also accepted it as payment in their platforms which they don't. look at Tesla, they believed in bitcoin and they invested in it and they accept it as payment.

this news sounds fake to me, not just because what others said about size of it, you can still accumulate that much without affecting the market over medium time but because they don't accept bitcoin.

This is for sure, I don't know if the news about Alibaba's buying of bitcoin is true because I heard that they will be the first supporter of the Chinese digital yuan, but regardless of if the rumors are true, we will definitely see a crazy bullish movement in Bitcoin like what happened when Tesla bought Bitcoin.
We will witness a dramatic movement of Bitcoin in the month of May, especially with the increase in news of large companies buying bitcoin, the last of which was Nexon Games company.

Honestly, I am not aware of the rumors and many people here are not but if the rumors are confirmed to be true expect a massive pump and $70k is just a start, people want confirmation people they invest, majority of investors are weak hands and part of the domino effect, who will just follow the market trend and whales whenever there is movement in the market.

On the other hand, if this rumor is not true, will we see the opposite of our expectations?

This rumor has not a reliable source, I think Ma is not into investing in bitcoin as he thinks it's a bubble, but now his company acquired BTC worth billions?
That doesn't make sense, I know there are people who hate but later invest in bitcoin, but I doubt Alibaba would do that.

I concur, upsetting the FEDS is one thing but you dont set out to upset the Chinese military dictatorship the communist firing line might just take you out and China isnt open to free currency and decentralized system of movement in anything really.   I really dont see this company allows themselves the risks of extreme censorship by such an easily harsh regime.     I indirectly own shares in Alibaba, I dont mind innovation at all or crypto but maybe dont cause unneeded trouble also especially while still growing.

Even disregarding that, if the 20bn is already purchased in entirety it could also be taken as some negative.  The news is within the price, more bullish would be if we already rose this far for other reasons and then in the future this company announces they will move away from Chinese and Dollar currency to Bitcoin in any part at all.    Thats when the price really would go up I think, but I disagree with OP premise as news of whatever occurred is not outright positive we are discussing rumors really but you want to know the effect on this date and its at best 50/50 either way.

This is just a speculation but if this is true, then we can expect another pump with Bitcoin since we all know Alibaba is a huge company as well and China is also a great country that support Bitcoin today after so many years of denying it.

Bitcoin is still on the up trend, we might see new all time high again in the coming days. Though this is not a financial advice, buying bitcoin today might give you profit by next week, we'll find out.

If there is an offcial annoucement from Alibaba, this will definitely be the great news for bitcoin and investors. People prbably take the opportunity to invest more money in bitcoin and push the price to $70k

Personally, I do not trust rumors because they are too untrustworthy and manipulative. So basically, big firm and holdings might have the official news before us and invest their money while bitcoin is low in order to sell when the news releases. It is not fair to new investors who just blindly jump on the ship

This will most likely be like the Apple earnings which were also suppose to put Bitcoin on balance sheet, so we rallied to the earnings and then when we heard that they didn't buy Bitcoin, we dumped hard and alot of longs got stuck.

I heard this rumor and have no idea how it started. I think someone on Reddit posted it without any actual proof and it just took off. Maybe I would believe it if it was like $500 million or so however $20B is just ridiculous and I don't believe they would buy that much. If they were to buy it they would of bought it a long time ago not at $50K. I am pretty sure its a rumor.

I did a quick google search just now and it looks like that this "Alibaba buying Bitcoin" will remain as a rumor "at least for now".
I quoted the last part because I believe that they might enter too like most institutions did and will buy Bitcoin but on the other hand, I'm also thinking that Alibaba will not even try to touch it.

There are still 9 days before the 13th of May and it looks like that $70,000 prediction by this date is impossible to happen. ~$14,000 price increase in just 9 days?? I don't think that it is even possible not unless this rumor will happen in the next 9 days then it might be or at least break the previous ATH of Bitcoin but will not pass $70,000. I also believe that the previous support of $47,000 will be the strong support as of now and it will move sideways around $47,000 - $60,000.

I highly doubt that Alibaba has bought that much crypto.

Firstly, if they did, then the price action would be a lot crazier than they are currently. Unless they spread out their buys over a period of months which is very, very unlikely, a purchase of this size would swing the market up a lot more than the current price action suggests.

Secondly, they're already at odds with Chinese regulators. I highly doubt that Jack Ma and co. are stupid enough to actively trade a contentious asset under Chinese law.

I have doubts about that news also since maybe they are spreading that information to hype and its so dangerous for us to engaged with it especially if we get FOMO when the price starting to ride up, but as I see there's no big move happening so I assume that we are right about our speculation since market is at stable situation right now.

If that news is real, that can boost bitcoin price to increase because that can give confidence for people to see that the big company like Alibaba also invest in bitcoin.
They will see that bitcoin now become worthy and that can attract them to invest in bitcoin too.
The more big company invest in bitcoin can give more supports for bitcoin, which means that bitcoin will have a chance to become global quickly.
But we still need support from the government because they are the regulator in every country.
Hopefully, that news can help Bitcoin surge to $70k, but we will see it later.

We heard the same news about Facebook and later came to know that it was just rumors. Alibaba is a Chinese company and hope you have heard about the disappearance of Jack Ma from the public space and there were rumors that the Chinese government has kept him prisoner and it was not a secret that his company was facing many regulatory issues by the government and if you think that they will be investing billions in Bitcoin then you must be joking without knowing the ground reality :P.

Only Jack Ma can directly answer that, though you mentioned it right he's nowhere to find, if those rumors about
him being taking down by the government,

then there's no accurate answer whether they really / the company really bought that amount of bitcoin. Just rumors
lets wait if something will be out to inform the public.

Definitely an incoming pump if its true if not then normal day in crypto as usual. Companies announcing their Bitcoin holding is big signal for FOMO’s but the majority will benefit from it, so far the Bitcoin’s momentum is solid I think with or without the news of how much big companies BTC holdings.

If Alibaba buys 20 billion of Bitcoin, then Jack MA will go missing again Probably forever this time. Alibaba will be allowed to buy 20 billion of digital yuan. Maybe they will announce that 13 May 2022. Does Queen of England also publish her financial reports? I do wonder what will be her first cryptocurrency.

https://bitcoinmagazine.com/markets/bitcoin-price-will-go-parabolic-in-2021
according to this article, the parabolic movement in the price of bitcoin for each halving is in the first 0-70000 blocks (approximately). if I'm not mistaken so far there are 54,636 blocks and there are about 14,000 blocks left or approximately 14 weeks until the peak. I can see it a little early :)

"Buy FOMO and sell FUD" so if you are seeing a lot of news that says that you have to buy the bitcoin because the price is going to be increased due to some news like a big company is going to invest or blah, blah...

So don't get into the trap, if it is true then you may start investing.

You give me a good chuckle mate, but yeah it's a big possibility he can go to jail because of this move. The Chinese government is already on him and probably opening every financial books of his giant company.

Jack Ma, although one of Chinese billionaires criticized the government last year (his biggest mistakes) and then he went into hiatus, or as what others have speculated, the government keep him quiet that's why he didn't surface to the public. But in any case, there is a big possibility that we can see $70k this May with or without this rumor.

Well, according to Peter Brandt he predicted that Bitcoin would go down with a natural correction to 35%, and it was down more than 25%, and said that it could reach $ 100k in May, if this goes as he said there are very high probabilities that it will reach $ 70 Ko surpassed it, everything is a matter of waiting.

IF we see the behavior of Bitcoin this week it has grown in the last 3 days by more than 5%, this is considerable, and it has brought very good hope and confidence to investors.

In this analysis he talks about the price levels that can fluctuate in the short term:


https://i.imgur.com/TTwwFdk.png
Source: https://cryptopotato.com/crypto-price-analysis-overview-may-7th-bitcoin-ethereum-ripple-cardano-and-litecoin/ (https://cryptopotato.com/crypto-price-analysis-overview-may-7th-bitcoin-ethereum-ripple-cardano-and-litecoin/)

Better that we have bitcoin no matter what happens because if you don't and you are just speculating the prices then it is a pretty useless thing because you didn't benefit from the pump so to everyone who plans to sell, wait for the date to pass by and if the prices doesn't go up then you should do what you should do.

Upon reading this thread I made my quick research about this rumor but I guess I haven't found the legit source. But if this is just a rumor for now maybe hopefully on the following days alibaba can release an official announcement if it is officially buy a 20 billion Bitcoin.
What I felt about this if it might be ttue was a massive bomb explode on the bitcoin market exchange rate hopefully give a positive feedback and make bitcoin price goes higher and attain new ATH.

The price of bitcoin is going to catastrophically collapse after the 13th. It's so obvious it hurts my scientific brain.

That is really good news and will give a good effect for bitcoin price movement. There is no different cases with Tesla, I mean a huge pump will come if Alibaba announch that they already invested their money into bitcoin.

Bitcoin price movement still move in the sideaway market, I mean there is no panic selling when its price failed to passed the previous all time high $64.000 but its price just meet a small correctio to $55.000.

This has pointed out that many investor just comfortable to hold their bitcoin and forget a huge that will happen after a huge increase like 2017 ago. So as a good news will really give a huge effect for bitcoin moreover the news come from the popular company.

Today is May 7th and the price of Bitcoin still around $57K. So about your question is 6th days later based on the situation Bitcoin will not reach $70K, and I think Bitcoin also will not dump but Bitcoin will keep continue to increase slowly but surely.

Actually, I didn't expect such a question from a Legendary Member. So can you stop make a thread like this

Bitcoin will surpass $70K you just need to patient

If you are asking me i would like to see a huge correction before another rally but the market is not allowing that to happen as the investment keeps on pouring in whenever there is a correction. I always like to see a gradual growth rather than rapid increase but in the cryptocurrency space we are yet to see that kind of growth. Despite all that i like how the market is right now where it is giving everyone the opportunity.

I think this is just a fake rumour to pump the price up. If they have realy done that, they would annouce it already.
Anyway I think Bitcoin will not go below 45k now

Yes, I would say that this is fake news.


Don't spoke too soon, we don't really know which direction it will go in the future.

We said that bitcoin will not go below $50k, and it did.

And so as far as $70k goes, it could go in the next one, but I highly doubt it. Bitcoin has been trading sideways and it will continue to do so unless there is a break out run. Nevertheless, this is a good opportunity to jump in.

We do not know about that and no one will know.
We can hope that it will not happen because we already reach $50k and even the price now is back to $57k, so maybe the chance to increase now will be bigger than before.
But we need to be careful because the downtrend will always come after the price reaches the highest price, so you need to know what you need to do if the downtrend comes.
I hope that the price can back to $60k in the next week and hopefully, that can still increase higher and reach $70k.

Yeah bitcoin is slowly climbing up toward $60k levels, it may test a new ATH in coming days regardless of what those institutions or corporate's hand into bitcoin markets. I personally believe there cannot be any big fluctuation on May 13th just because of those China market giant. We may have calm market conditions like how we are doing last 2 weeks of times.

So far, we did not experience any bull run due to any big money like 20 billion dollars inflow hence if that news turns as a rumor then we will not have any downfall but at the same time if it will be confirmed then we may start seeing another round of bull run.

I do not expect any price fall because only the rumours exists and just in case if they published they hold it then market may rise else would be near at the same level if they do not mention anything about btc which means they not holding it. Btc no doubt is getting back to its 60k levels and might continue to get stable above it.

It's weekends but we have a good bump on the price at $58k.

We might not hit $70 on May 13th, but I think it's feasible that at least $60k will be in the range by that time and I would take it anytime of the day.

Let's way for the $70k surge here, with or without this so called rumour. We still have weeks to do that this May and I wouldn't be surprised if we will get near that price or have a new all time high again.

As long as the investors are confident in invest in Bitcoin irrespective of the price we will not see any major correction, today the market grew over 3% and it is trading over $58.5k and i think we will pause at the resistance this time too.

The price will be back to $60k but whether it will break the resistance this time is the big question. I think it will take a much longer time to break the resistance.

The price went over $59,000 several times but it was not enough, there is no momentum as traders sold off at this price.

Yeah, it's weekend so we should expect a slow down, so I wouldn't mine seeing the price on the $58k and then slowly getting up again tomorrow Monday as we may see a huge volume again during the start of the week. That $70k might have to wait though, steady gains is what we wanted, we don't want to see artificial pump just to reach this milestone.

Slowly but progressive is better than artificial pump that may breakdown really quick.

Weekends might show some fall as some may cashout for some personal reasons, but along the way we are still seeing good market
movements, there are long term investors who keep their assets and wait for their target than those day traders who are just scalping and trying to rinse from time to time.

That's because $59k is not important, the $60k is. Similar to $53k not being important (support) but $50k is.
The day traders are also still pretty busy pump and dumping shitcoins so they are remaining in the altcoin market for the time being and won't jump back for $59k. They are waiting until the newbies run out of money in altcoin market then dump and come back or for bitcoin to break $60k to dump and run back.

The reason why BTC is not doing anything while all alts are going crazy is because the dominace is dropping like a rock since beginning of April. Until we see dominance start to go up, it will keep trading sideways and alts like ETH, XRP, Doge will rally like crazy breaking ATH after ATH.

Currently most people rather buy Doge or ETH because BTC is just too expensive. Most people believe it will hit $100K, however it doesn't leave much profit if they buy at say $50K. Its only 2x gains.

If they buy Doge or ETH or that Shiba coin they can make 5x or more 10x gains. Hence why people are dumping btc for alts. And it will be this way until the trend reverses.

Bro, I think if these "rumors" are true, BTC will hit ATH again in a fairly short time, even sooner than Tesla's announcement, imo. Moreover, Alibaba buys an insane amount of money, it can increase the value of bitcoins significantly quickly

So we have 4 days to wait for the results of the audit, so the results are a confirmation that they indeed bought $20 billion of Bitcoin, so from rumors we now have confirmation, this is something to watch out for and see how the community reacts, many investors wait for the confirmation before investing, those who buy the rumors are going to make a big profit when this is confirmed.

This still a rumor, no one has said this is the real news and all people will hope this rumor will comes true.

Bitcoin is indeed going to $60k, but have you seen bitcoin dominance? It's still 45%, not a good sign if you are hoping bitcoin can go $70k.

What audit? It said it will be published on unaudited, not fully audited yet.

4 days to go , I'm still watching your Predictions  ;D , I will never let pass any of them to see the credibility  ;D

if I'm not mistaken you have created multiple speculative thread that i come across  ;)

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I'm holding my coins still , and no plan of selling not until bitcoin reached 100k , so 70k is the first sign for me then 80k and if that being reached, surely 100k will be the next .

How does it collapse though, I am pretty curious about it since you said that it is pretty scientific. I don't know if Alibaba really did bought a lot of bitcoin but if this rumor proves true then that means that the prices are going to pump real high.

It's one of those 1 liner where they say that bitcoin is going to fall without having any proof or at least a foundation to create an argument, it's just a wild guess.

Nonetheless even if Alibaba didn't really bought bitcoin or doesn't have any plan to buy at all the news had already spread and media is kind of a wild fire where a small news can get bigger in a short amount of time, which means bitcoin has already got so much attention throughout that rumors and is currently getting hyped which is generally good.

That's why I want to challenge the claims that bitcoin will collapse, I want to assure the person that before I disagree with him/her, he/she has some arguments to support the claims. I hope that it will be more than rumor because if it really is just a rumor then those sensational stories picked up by the media will only propel it ever so high.

If ali baba announce their investment in bitcoins, it will be very bullish for bitcoin. However, if there is no such news on 13 May, even then i don't think bitcoin will dump. Bitcoin will keep on moving side ways and won't dump because there is a lot of demand for bitcoin. Whales are ready that you sell and they buy at whatever prices.

We will see it later the next week, and hopefully, the price can back to $60k in the next week.
But reaching the last ATH will not easy as that still need more time to break every high price and needs more support to lift the price.
Even if a big fluctuation happens on May 13th, that will not stop bitcoin price moves to the high price because bitcoin can still make a new ATH.
That can be another bull run that will happen this month and lift the price to break the next target high price.

After what they saw happened to bitcoin from a long time ago until now, they are confident to invest in bitcoin and even if any major correction comes to them, some big companies will think it is their best luck to buy bitcoin at the lowest price.
I guess the price will stay or stable at that price, but it could start moves in the next week.
If that is happening like that, I think that will be a good time for the altcoins to increase.

Breaking the resistance will only a matter of time and I am sure it will happen sooner or later, although we do not know when it will happen.

Why the word dump when its good news if we have a confirmation that Alibaba really invest $20 billion why will it cost a big dump, it's a confirmation that Bitcoin has passed the bubble stage where many big companies and well known people consider it a bubble years ago, when all the big companies are confirming Bitcoin's existence then we are moving forward.

That will definitely push the price up but I do not know for how much, after all even if this is true and the amount of bitcoin that was bought is many times higher than what Tesla bought we must also remember that Tesla and Elon are seen as the way to the future so it is not going to have the same media impact as what Elon did, also the scenario is different, when Tesla announced this the price of bitcoin was lower and now it will be more difficult to go up in price now that its price is so high.

First of all, we must need confirmed news about Alibaba's investments into bitcoins; if we assume that will be true and confirmed then we might see same level of growth what Tesla had induced in recent times; I mean the current price levels are insignificant against FOMO. Moreover, most whales will cancel their sell orders which will again lead to jumping of prices levels into peak more easily.

People are mistaking the money required to move bitcoin market from $1000 to $2000 is much higher than moving from $10 to $20; but, it is all about volume.

If there are millions of selling orders happen when moving toward $20 then it would require obviously billion dollars. At the same time, when moving toward $2000, if there are less selling orders then just thousands of dollars are enough to reach $2000.

Same applies when bitcoin will be moving toward $100k or $1 M or $10M or $100M levels. Please remember, when there are more confident then people will change their mind and will cancel their sell orders. That's all.

I think it is about "if this news is correct, people will buy more and if it is wrong, the ones who bought anticipating this will sell" type of situation. Basically there are some people who already bought because they believe that Alibaba bought 20 billion dollars worth of bitcoin, and some people are still uncertain about it and will decide depending on the news.

So, if the news is correct the undecided will buy as well and the ones that bought earlier will profit and the price will go up, however if the news is wrong that means undecided will not buy, so the earlier ones will not profit and they will sell as well so the price will go down. This is what is suggested but I do not think that its correct, I believe it is wrong, Alibaba most probably did not buy 20 billion dollars worth of bitcoin because if they did that, the price would have increase insanely high right away.

The news about Alibaba investing 20 billion dollars will be debunked as rumors when the Q1 earnings report will be published in a few days. Jack Ma is always skeptical about Bitcoin and he always viewed the Bitcoin market as a bubble and hence i do not think that he will be taking a huge risk to invest $20 billion in the market, i wont be surprised if it is a few millions but to invest $20 billion even after calling the Bitcoin market as a bubble will be outrageous  :D.
 

This will be an interesting news to look forward to. Few days from now and we will know the truth about this rumor. But I believe, it is just a rumor. But in any case they did have bitcoin investments, even if it is not $20B, it may still create good pump in the market. Who knows, Jack Ma changed his mind over bitcoin, now that Tesla is already on this market? They can always change their stance when it is good for their business.

I am skeptical about what will happen if this news turns out to be a rumor as traders will sell a rumor for the first time. If Jack Ma will publicly announce that they spent a huge chunk of their portfolio on btc, then it will move btc higher at least 25% but I do not think that a Chinese will 'buy' btc instead of mining it.

When it comes to rumors that do pop out then its up to us if we do take it seriously or just ignore those things but once those words to came out then probabilities that it would really happen.

Any positive sentiment that do come out in the market might be or might be not manipulative so lets be careful on making our positions because we wont know on what would happen next.

There's no assurances that we would surge to  70k and we would need some more adoption news in related to that because breaking 60k alone is already a challenge.

I am a bit pessimistic that the Bitcoin price can be around $70K on May 13th. Only 3 days left and the price of Bitcoin is still struggling about $56K-$59K. The possible rate to be achieved probably around $65K, it is still achievable. I know that Bitcoin can increase very fast but I assume the current situation won't make Bitcoin jumping too significant from $58K to $70K only in 3 days.
It should take a process and need time, $70K can be achieved at the end of this month. But it seems not to achieve in the next 3 days.

If you are thinking logically then it will take time for the price to reach $70k from this position but you need to think that the price of Bitcoin is around $57k and it is not an hard task to increase $13k in a few trading hours as we have seen many rallies in the past and how they could impact the market easily in a short period of time. But everything depends upon Alibaba investing which i think is not a strong situation. Never bank on other and expect you will make money.

It's obvious, $70,000 won't be achieved this May 13th. Bitcoin market is on the accumulation phase after the massive dump to $47,000. And then we have the altcoin market also being pump so hard right now. So some of the money is there. But we all know that those investors are smart, once they profit from newbies in altcoin, it's time to get back to Bitcoin again. $70,000 might be June-July bull run and not this month.

Yups and even Harder to Climb back to 60,000$ that means we really expecting hardship for Bitcoin to reach that target.
But of course never lose hope specially to those who keeps the Holding up to now waiting to the best time to exit like me  ;D

Actually my target price is 75,000 before getting all my funds from Bitcoin and rest for while then wait for another 30-50% dumping before re entering.

Heres the line Im looking at before we get higher prices extrapolated, we are past 50 day average and it appears BTC is strong but market might need more proof rather then just drifting upwards to such a point as 70k or similar.

https://talkimg.com/images/2023/06/12/AVCia.png

I drew in trend not from great certainity but some marker of the pace with which we must continue upwards and challenge the upper line or possibly we do reverse despite the general positive sentiment recently.  I also noticed the Dollar index is looking weak, we failed to pass 92 area properly and start a bullish trend there and some speculate Dollar breaks down; this would match trend continuation for BTC also.

Frankly speaking, I think the Alibaba news is fake, similar to what FB buying FOMO news was out in the last week.

If you see the Tesla news, when they announced their holdings they also announced that they will accept BTC as a payment method but there is nothing from Alibaba at this moment. Also, Jack Ma is not in a position right now to take on a government that is not so supportive of crypto.

Even though I am really looking forward to Alibaba investing in Bitcoin, but what you say makes a lot of sense, seeing that the Chinese
government does not support crypto. It is possible that the Alibaba rumor investing in Bitcoin is a fake, but thanks to these rumors I see
Bitcoin price being pushed up. Hopefully in the near future there are other big companies that will invest in Bitcoin, so Bitcoin can go back up
to above the price of $ 60k.

3 days more , do you think this is still possible mate?

I'm no seeing any sign that this will indeed to happen.

Well, Alibaba is a big company, and that's going to push the bitcoin price even higher. I wish it could cost more than $ 70k with Alibaba joining. if it is really released, then the potential for bitcoin will be even stronger and I feel vulnerable to falling again. however, we can see whether this speculation is true or not on the 13th.

Isnt Bitcoin banned or have some limitation in China? Alibaba, or Alibaba group are China registered campaigns. I would not rely much on Alibabas report surging Bitcoin price high. From my point of view China and cryptocurrency are like ticking bomb. They can make a huge explosion and drop price to the bottom, or they can "wind up the clock" again. I dont think that in 2-3 days something extraordinary would happen. We would still be in flat market with the price of Bitcoin $54-58k.

if that's true for sure bitcoin will become hype again on this month of may or until june in my opinion. wherein like what happened on it when TESLA announced they've invested in a huge amount on bitcoin, it improves more and now has new ATH, and also this will be a good new for those holder who's waiting for more improvement in the market because of being stuck up and already missed the opportunity to sell off..  Perhaps all of us will be happy to see it again wherein making great progress ... I hope this is true.  :D

It'll need to pump 10% consecutively from tomorrow for the target to be hit. Looks like some other alts (we all know, no need to say) are the ones easibly blasting past ATHs and making new ones but BTC seems to be having a really hard time no?

Sell pressure hard to beat at 60k!

Everything will be said and done in the next 2 days.

Alibaba is indeed one of the most established and popular company now but as what Paypal and Tesla brings , it does not take effect ASAP instead it took months before we finally feel the effect.

at least 10-15% mate to be specific, so basically we need a Bull effect from this moment till the next 2 days more.

There are few restrictions in using bitcoin in China. However, Alibaba is one of the biggest companies and compromises should be made between them and the government. I also do not rely on the upcoming report but others are expecting to see positive news from the company. If they truly hold bitcoin, a price of bitcoin will definitely surge to the latest ATH. Then, $70000 will be our next possible target in a short term

Looks like we can possibly see more dumps since market still showing some bad movements so maybe we csn expect that the target predicted price to be reached on May 13 cannot be hit, although we shouldn't lose hope since maybe one of this month we can achieve that and $70k is not far to reach though it needs more time before we can see this happen.

My thoughts as well. 2 days  left but its not going to break any resistance above. The bright side is that the marketcap of  cryptocurrency market continues to grow bigger. There is money flowing in crypto, the money however isn't going into the major coins like BTC. Its going into the altcoins we never know people will actually invest in.

sad reality . the 60k resistance becomes a Hard barricade now , after being broken twice now it seems that Bitcoin cannot even make close.

two attempts this week alone but did not make it there.

so for me the 2 days remaining is not enough, and the whole month of may is the possible chance of making this thread happening.

At least maybe price can keep stable although can't break $60k. Good news can be used for people to keep holding their assets. Although not much demands but no more selling is can already help bitcoin price to be stable. My prediction maybe 1-2 month bitcoin price start to get affected from that Alibaba news if really happen.

yep, we have two days in hands but there is no syndrome Bitcoin could break the 60K resistance. Bitcoin tried twice attempts but every time no shine. There are literally nothings we can do and better off doing nothing. I pick my decision, go through hold on this tough market.

This is amazing about bitcoin.
I think if this news is true that alibaba has invested in bitcoin assets as much as $ 20 million dollars, maybe this is a form that the price of bitcoin will continue to rise and will be reached in the near future worth $ 70,000 percoin. an amazing thing.

Well the Bitcoin market is very unpredictable, even though we don't see any sign that this surge will happen, we still don't know what will happen next.  All we can do is to speculate and hope that the surge will happen but I think the bitcoin market price will continue to move sideways since the news on Alibaba buying BTC seems has no effect at all.

This does not look like a fair competition. Why someone should face restrictions, but those who have a lot of money only compromises. It is clear that Alibaba brings a lot of money to Chinas treasury. But such unfair situation might trigger other to avoid using Alibaba.

I think this all is just a clickbait. There is no real proof. This is just a rumor and Alibaba did not verity investment info. Alibaba group consist of a large number of companies and thousands of employees. If they really had made such and investment, such information would have leaked.

But I was specific, I just said 10% consecutively from today, which means about 20% and well, it's still not too late as we can see BTC recovering but there is a strange resistance at 57000 no one can seem to explain except perhaps 57/58 is where most bulls bought their holdings so don't want to let it climb too far above that to keep buying entry:)

Been seeing this 57k resistance level being thrown around a few times now and not sure where it's coming from but the charts this week do seem to hold true to that. Loads of buy trades on LBC also taken down around this range, stuck around 54-55k, at two currencies I'm watching for anyway.

Always feel like there's something they know I don't, or traders just preparing for some volatility coming up to Friday. Either way, sideways we go.

Many people are sharing like they are not ready to believe in this but I like to ask them when we individuals are planning for better future through bitcoins, then market giants with billions of money why not think about not missing an opportunity which is running for more than 10 years and giving out good ROI.

Believe or not, your friends and your colleague also might be involving with bitcoin in some other way but not disclosing to you for some reasons. This way big companies and celebrities will unveil their secret investments over the time if needed or will keep them hidden forever but we can assume by seeing stronger rallies with bitcoin markets.

It doesn't look like BTC is going for the 70k$ price any time soon. It is barely holding the support at this moment and might not be able to hold if there is no volume for it. Also, we have seen the Facebook FUD, 2 weeks ago, so probably, Alibaba is also a similar FUD. This is not a good sign for crypto in general, these FUDs making the market uncertain and the impact of this will be on the small size traders.

There are many predictions that bitcoin can even reach $ 80k, in the analysis of this article they show the short-term graph, especially at 4h where the analyst specifies that a bearish movement is more likely than a bullish movement, however it is the short-term trend and is easier to reverse if a major move occurs:

https://i.imgur.com/cP8v9Uf.png

Source: https://u.today/btc-eth-xrp-and-doge-price-analysis-for-may-12 (https://u.today/btc-eth-xrp-and-doge-price-analysis-for-may-12)

Just looking at the Bitcoin chart you can see a slight laterality, you can even see that it has grown a little, around 2%, but it still has a degree of uncertainty.

You will not have to wait long to be sure if your assumption is right or wrong We are one day away from disclosure. Tomorrow we will see. I wonder how many people believe this is true and bought Bitcoin because of it and will dump when will realise it was a lie. If no one there will be no dump. If many there will be huge dump. Same with the opposite.

many large companies are adopting Bitcoin, but the dominance of bitcoin has dropped to 45%,
somehow? this is the same as 3 years ago when the dominance of Bitcoin fell to 30% altcoins experienced a high increase while Bitcoin was bearish for a long time,
then what about May 13? I see the Bitcoin price has corrected again.

tomorrow Is May 13 it seems that we will not see the price reach $70k. But what I see is that the price is falling, nothing to worry about because the Support that is above $50,000 is a very strong Support and even if that Support broke there is still another strong Support that is at $47000, then it has $42000 that in my opinion is the strongest Support and that will make it impossible for the bitcoin price to fall below $40,000 someday, your price prediction was wrong. but you still have all day tomorrow


I doubt that the price will fall much, probably within the days it will be above $55000 again

It is already May 13, but there is a relevance, Tesla makes another announcement that I do not know what impact it may have on the market:


Tesla stops taking bitcoin for car purchases, citing 'great cost to the environment'


At first the news is shocking, and only the mere fact that Tesla is involved draws much more attention, both for BTC and Doge, but later they assure this:


Source: https://www.theblockcrypto.com/linked/104720/tesla-stops-taking-bitcoin-payments?utm_source=cryptopanic&utm_medium=rss (https://www.theblockcrypto.com/linked/104720/tesla-stops-taking-bitcoin-payments?utm_source=cryptopanic&utm_medium=rss)

Is it relevant news? will it cause some kind of favorable reaction?Tesla does not make these types of movements because he gets carried away by emotions, he is an analytical person and also has a group of financial advisors who know everything about the market very well, he must also have all the Crypto tools for good market analysis . These Tesla moves have a why and he is looking for something for his benefit.

^ yeah when I woke up this morning I have noticed Tesla announcement on Bitcoin,  stops taking bitcoin as payment for purchasing Tesla. This is why everything is tanking right now. The whole global market is down. Better marked safe you from panic selling, there always someone who get the advantages upon your activity.

Elon just added a little punch to the crypto, and this is not a new. I wanna buy more but I already run out my balance. I simply stop looking at it for next couple of hours and than it's back to normal lol

Elon could knock out crypto if he withdraws his $1.5 billion from Bitcoin. Some actions must be done against this "boxer". He is too popular and too dangerous for the market. Right now he is a biggest manipulator, in future he would become a crypto dictator.

Dont expect Bitcoin price to grow up anytime soon. It is loosing its dominance. Summer is near. Alibaba investment is a fake. And we havent seen "bears" for a long time.

Unfortunately it isn't even relevant news and yet it caused a bad reaction. Clearly Elon doesn't even know what he's talking about when he's talking about emissions and <1% of stuff. He should learn about PoW better first, and try and use ETC or something and see just how easy he can get 51% attacked. Too bad people won't realize what an idiot he is when he's trying to be funny.

Yeah, I think this is the reason why the market all of a sudden goes down.

So still as much as we hate Elon, he know became an influencer, in the beginning when we says that they have bought bitcoin and used it a hedge on their balance sheet, we all sing praises for him. But he is becoming worst by day. And then his statement? Damn, I don't know where he get his information because obviously, it is misconstrued.

But probably his attack has some bad intention behind, to bring the market down so that he can enter and scoop cheap bitcoins, very clever Elon!!! So we are not going to $70k this day but ~$50k.

Yes, it is incredible that in less than 1 hour the bitcoin has fallen by 10% completely, but not everything is bad, because Mark Cuban countered by saying that the Mavs do accept Bitcoin.

Source: https://cointelegraph.com/news/mark-cuban-counters-elon-musk-says-mavs-will-continue-to-accept-bitcoin (https://cointelegraph.com/news/mark-cuban-counters-elon-musk-says-mavs-will-continue-to-accept-bitcoin)

It only remains to wait and see if the price of BTC recovers, I think it will be a slight drop, Elon Musk may be opening the way to build his next tweet for Doge, and cause a pump to win.

it slides along in same track for months on end.

46k to 64k up and down.

in april and may there have been 43 days and i think we closed over 50k either 39 or 40 of those 43 days.

Musk melon attacked BTC directly and we are still over 50k.

So buy cheap at 50k and hodl.

Wow...  I’m really pretty impressed with how janggernaut hit the date right on the button.  Lol.  And this whole Elon thing about his negative comments on BTC mining  stinks.  I’m not sure what’s the play here but I’m pretty sure it’s not about his overall concern on the environment.   Dunno...  It just stinks.

https://www.alibabagroup.com/en/news/press_pdf/p210513.pdf

Ctrl + F -> "Bitcoin" -> nothing.

Hope you can now see that your prediction or speculation didn't come to fulfillment as we are about to enter 14th May 2021 and the price of Bitcoin is still bellow $52,000 as at the time of this post. We should not be too much optimistic about about our prediction because it mixed leading people to make a wrong investor decision.

No I don't think Elon's an evil man so he has no bad intention. But he isn't a good man either. He just did this for pure profits, and for the feeling of knowing that his words have such a powerful effect on the entire crypto market.

He feels good about feeling powerful and about reminding others how powerful he is. That's not a bad intention, just selfish.

BTC has been playing around $50K right now and I don't think that it would jump into $70K anytime soon.
We had experience a fall due to some negative news so I don't really think that we would be seeing it climb and make a new ATH again right now.
I think there would be a chance if Elon would tweet BTC and if it would have the same effect just like on Dogecoin.

It's already 15th of May and nothing happened, the price did dump though which sort of a prediction gone right. We don't know when will it happen but I am sure that bitcoin is going to go to that price point but we just have to hodl and wait for it to happen.

Even though the news is true and think of what alibaba bought, it is not how much of the existing supply or it can be said that only a few percent were purchased. to be able to affect the movement of bitcoin is very slow.
but we can just assume, if the confidence of investors to buy in large quantities, there is likely a big breakthrough in the future, even though it is not a short time.

Alibaba could buy bitcoin now and later sold bitcoin, it's possible and it's not really something that we should hype out. Look, what did Elon did, first he announce that Tesla will be accepting bitcoin then later they made an announcement that Tesla will suspend accepting bitcoin, they are just playing us, using their influence to manipulate the market, be smart all the time.

What is the point of these big companies investing in Bitcoin, they will just create the hype and pump the market and they will dump just like how Tesla did. These sort of investment by big companies does not bring any good to the market, the only advantage is the sudden pump in a short period of time and there is nothing positive in the long run.

My idle situation would be, major companies accepting Bitcoin as a payment method and that gives me more satisfaction as a Bitcoiner rather than hearing about companies investing to pump and dump.

Well, didn't know it would be turned like this. When i created this thread, bitcoin was worth above $55,000 but now we are still struggling below $40,000. Idk of you guys have sold your coins or not, but i still Hodl until now. When May 13th, bitcoin also got dump huge dump because of TESLA stopped accept bitcoin as payment

beyond all expectations what is happening right now, but it is real that there has been a very deep correction due to the bad news that came together and caused bitcoin to decline even though the price was about to increase and was able to reach ATH $64,804.72 - Apr 14, 2021, but finally now have to go down and not happen to achieve the predicted goal.

This should not have happened if we did not respond with excessive measures because if it was done like that the market would be volatile and it was inevitable that there would be a decline. but bitcoin is used to experiencing this and will be able to gradually increase again, I'm sure your forecast will be passed when entering the end of this year.

I do not think that we are here just because we have over-corrected, we have come here because of technical stuff. What are those technical stuff? They are stuff like auto liquidations and stop losses and all that, some people did sell of course otherwise how could it go down but there were a ton of those automatic stuff as well, and do not forget trading bots, they all sold as well when they saw it going down and there are tons of them.

So "normal response" happened, and it wouldn't be this low now if it was just that, all those excessive came from automated stuff and that is why we are even lower. There is nothing wrong with it, it helps us going up so it is bound to hurt us when it goes down, we have to take crypto market with the bad if we like it when it is good and there is nothing wrong with that. Just let it be for now as it is and it will go up.

No one knows what will happen exactly in the future, so that's fine. A lot of us thought that it may further increase but the opposite happened. Maybe, we are still in correction after reaching the ATH of about 64k with the influence of not so good news from China and the pullout of Tesla from btc payment. But it seems after going down to 29k, we are now back at 33k. More good news and maybe we will hit again the 40k mark. But definitely, it is not the end of btc as some newbies are asking if it is already the end of btc.

bitcoin will hit $70k or dump.  well at first glance this looks like a prediction but actually it is certain.  if for example it has reached 70K, will it jump to 140K?  yeah sooner or later btc will also have a deep correction.  this is natural because it's too much for btc to get fomo so people forget the correction.

The 55 to 40k area is not that large, in terms of negative I would still expect a proper frightener which is more like 20k but that might only last 10 minutes Im not sure.   This slow and steady pullback isnt that negative is my bones are telling me :p   just my experience and I can be off but I think its quite a natural move to consolidate price action.  Considering how massive the rise was thats fine.

Till we trade above this average I'll assume we have negative action still to play out, I dont take absolutes its just an attempt to keep track of how market is showing itself in near term strength vs weekly bars.  This is the Jan range and we are challenging but possibly confirming below, I'll continue to observe that process ongoing.

https://talkimg.com/images/2023/06/12/AJS9g.png

This is actually a proof that the market is uncertain and that any numbers are just prediction that is being thrown out. Your thread isn't that any different with other people out there predicting the prices and also just hold on because if bitcoin is consistent, the prices will go up much higher in the future.

It does not happened in May 13th but the price did not surge to 70k instead before the end of May we experience the dumping and up to now the value is dropping Bad.

I guess the market is enough in pumping and its time to drops down to the next bitcoin halving.

I agree to most of you guys. Market is uncertain, but that's the art of cryptoworld. Those who hoping bitcoin will end or got huge dump just either newbie or whales who waiting to buy on cheap price.

If history will repeat just like 2013 or 2017, bitcoin will be worthy more than $100,000 (if this repeated only)

Your submission remind me of happened in the year 2017 to the price Bitcoin was such an amazing and no one expected it but happened at the end we all saw Bitcoin reaching $20,000 for the first time in history. However, one should have at the back of his or her mind that those factors that influence the market price Bitcoin and crypto currency in general are not seen in recent time and that is why there is element of doubt if Bitcoin could hit $100k before end of this year.