The influx of organizations towards bitcoin

[mr_ROBOTT]

New bitcoin purchases are becoming more common,
and many institutions are either coming or going to buy bitcoins.
The result is that now the cow phase is dominant and the whales do not dare to drop their coins in the market, because they are bought immediately.




The price of Bitcoin is currently trading in the range of 16,100 as well

Some say that this price is not reasonable and this sudden increase is due to the US election atmosphere and the news of the Corona virus vaccine.



My opinion is that it is true that many organizations are interested in buying bitcoins. But do not forget that bitcoins are in the election atmosphere and the news of making the corona virus vaccine.
So the best way is to wait and avoid making emotional decisions.

[dothebeats]

My opinion is that it is true that many organizations are interested in buying bitcoins. But do not forget that bitcoins are in the election atmosphere and the news of making the corona virus vaccine.
So the best way is to wait and avoid making emotional decisions.

I honestly don't see any strong correlations between the US presidential elections and how bitcoin managed to gain $5000 within 3 weeks. It's just doesn't make sense IMO knowing that either presidential candidates doesn't have any strong inclination to pass laws that could be beneficial for the cryptospace. I still believe that this is more of the PayPal announcement compounded with the vaccine news and anything else is pretty much debatable. Whatever  the reason of the rise is, your advice will always remain sound no matter the situation of bitcoin. People should always research first and avoid making rash decisions due to emotional urges.

[blockman]

Still there are speculations and analyses that are connecting bitcoin to the US election that was held. But the main idea is that we're getting more institutional investors and they are not only buying bitcoin but they're also keeping it. Just like the normal bitcoin investor that buys and holds. But they all have the advantage because of the huge capital that they have. Cannot blame others emotion this time that they'll be in the midst of thinking of selling, they can think of it as its the peak for this year and will have a full exit.

[Fortify]

The "whales" in the market do not operate to any normal standards and it is extremely unpredictable what they will do. There is also a huge variety of "whales" out there - from institutional traders, to enforcement agencies who managed to seize wallets related to illicit activity, to early adopters who may still be sitting on huge piles of bitcoin and they may already be rich with no need to sell any more right now. For fund managers who use risk avoidance and a level of profit taking, they may sell portions after certain thresholds are met - if they double their money it might make sense for them to cash out a certain amount which could offset any future risks. They may also do it to rebalance their portfolio of assets, if the monetary value is now leaning heavily towards cryptocurrency due to reason price rises.

[Baofeng]

Sudden? I don't see it that way, it is still a normal spike if we are going to compare to previous runs we have in the past. It is not a run similar to a massive spike in 2017, but it is not that slow pace as well. So I would say this is just normal regardless of who are going to be the next sitting President or whether Pfizer experiment on covid-19 vaccine is a success. The $16k or more price increase has nothing to do with those news. People are just extremely bullish as greed index reaches almost 90% as well.

[gentlemand]

The REAL test of all these macho pioneers is when it flies down the toilet again. Unlike us lot I would presume most of these people are emotionless machines who will dump brutally at strong signs of a bubble pop and buy back in a while down the line. They have no sentiment attached to this. At the same time there may be others who've been biding their time waiting to buy.

If big willies really are the driver of this bull run it's going to be interesting to see how differently it behaves, if it does. 

[btc_angela]

^^ That's how it is, we gain, and we loss -30% the following week, that's how volatile the market is. And this week alone, the price almost touch $17k, but then we have a correction as it didn't hold the support level @$16,500. But I will say that we are really in a bullish season, but not the parabolic rise similar to 2017 bull run yet. There are news that can influence the price, but it will be just in for the short term impact, except maybe for a corona virus vaccine that might affect the whole financial market positively.

[blockman]

Still there are speculations and analyses that are connecting bitcoin to the US election that was held. But the main idea is that we're getting more institutional investors and they are not only buying bitcoin but they're also keeping it. Just like the normal bitcoin investor that buys and holds. But they all have the advantage because of the huge capital that they have. Cannot blame others emotion this time that they'll be in the midst of thinking of selling, they can think of it as its the peak for this year and will have a full exit.

I guess the price of Bitcoin will be in the same range until the end of the year, but surely after that there will be a fall and after that the price will stabilize. And we can wait for higher prices and expect progress.
Just like what happened two months ago.

If it plays with those ranges, that's fair and will give us confidence as we wait for the peak of it. Just as you have said, bitcoin stretched back to $15,700 and this is a common move for bitcoin.
Wait until it stabilizes again and if it will be having new support and resistance. The fall is just pull backs that are sure to come, those are the times that are good to buy just as it is now.

[el kaka22]

These big companies are getting involved because bitcoin is becoming more and more mainstream. Even if they do not get involved regular citizens are getting involved in millions and they are making crypto a lot more famous all by their own as well. That means if companies didn't invested into crypto, they would be left behind and they can't handle that, they want to be part of the increasing profitable investment as well.

So, it is neither sudden nor shocking since it would be the smart decision to make. Even bigger companies than the ones we have will get involved with crypto as well, we are just waiting for those to be sensible, because you can get 300-500 million dollars into crypto without disturbing the market but billions of dollars would be harder to deal with.