$27000 or $35000? Which will Bitcoin head to at the end of Jan.?

[Fakhrulenclix]

Is the dip this time filling the gaps or bearish reversion?

Everything is possible, the end of January will be bearish or bullish, everything good. For people who keep it for the long term, this is doesn't matter. Because even bearish, the price of course will bullish. Just prepare your money to buy more if the price dumped

[1715209245]

1715209245

[exstasie]

When OTC demand is strong, all the OTC supply gets eaten up. Then demand spills onto exchanges because there is nowhere else to accumulate.

Coinbase published a case study for their Prime broker service, with Microstrategy as the subject. As they point out:

Individual exchanges do not have sufficient liquidity to service large, institutional-sized orders. Coinbase’s smart order router solves this problem by aggregating liquidity from multiple venues (exchanges and market makers) and routing orders algorithmically to find the best all-in prices possible.

https://primebroker.coinbase.com/content/dam/prime/downloads/pdfs/Coinbase-Institutional-MicroStrategy-Case-Study-Dec-2020.pdf

I assume Grayscale's buys have the same effect. At certain times throughout the week you can see fairly obvious TWAP algorithmic buying activity on Coinbase. When I see it I usually think, "Grayscale's buying again!"

You are sort of right, but sort of wrong as well. It does pour into regular exchanges obviously but it is a slow type of deal and not something sudden, which does change the market maybe a bit but not a lot, because these kinds of amounts done slowly doesn't really change too much.

Think about it this way, grayscale collected over 500k bitcoins, but did that like 7k per week or something, and that is why I think it matters, because 7k per week on OTC is nothing, and even if it spills over to regular exchanges that would be what? 2k spilled over? You can collect 2k from 5 different exchanges with 400 bitcoins and that would not be even felt.

That's a whole lot of assumptions right there.

There was a single day last week where Grayscale added 16-17K BTC to their trust in a single day. There is also no guarantee of OTC market liquidity at any given time. It's very possible most of that could have been routed through exchanges and had a very real effect on price.

Also, this sort of exchange order routing is surely limited to highly AML/KYC compliant, licensed, exchanges. Inflows would not be spread to exchanges like Huobi, Binance, Bitfinex, etc. even though they are some of the biggest exchanges in the world by volume and liquidity.

Grayscale is also just one buyer. What I'm saying applies to almost all institutional buyers.

[ethereumhunter]

If bitcoin is going to touch the deepest price at $27k, this is probably the best chance to buy back bitcoin and for those who don’t already own bitcoin.
Perhaps the price of $27k is the deepest price in bitcoin’s bullish decline this time around. But I’m also not sure yet whether bitcoin will go  down that
low. After a few weeks of sideways bitcoin, it may prepare to fly to $35k or more by the end of January.

No, I do not think so because the investor can wait for more, and if the price really touches the deepest price at $27k, that will be the best time to buy bitcoin. If they buy bitcoin now, they can get in a trap to buy at a high price, and that can make them mad. The investor needs to calm down for a while, especially at this moment, because bitcoin now is back to the low price, and it seems, bitcoin price will stay at the current price.

[jaberwock]

for me I think that with any celebration it will not affect the price because they will not spend more money so in conclusion their money must remain in bitcoin.
So the current correlation still looks good with a little correction. We can see how bitcoin is in the first quarter so it will still be 30-35k, but in conclusion we will see that in the following months there will usually be a movement with increased demand.

Everyone thinks these special days matter a lot but the reality is that they do not change too much. Look at the price now, it is already above 31k and we can say that we are closer to 35k than 27k so the answer is getting there. I can't say the answer is already given, because we could drop from here to 27k before we can reach 35k, that type of big falls did happened in the crypto world before and it could happen again.

However I feel like it is quite obvious that we are not going to let it be like that easily. Of course it is going to be easier to move 2k+ higher than to drop 6k+ lower, so we could easily say that likely answer will be that we will be at around 35k by the time January ends. However we could also have an option to say "which one will it be closer?" and in that regard whatever price is closer that would be better and 35k will probably be closer for sure unless something unexpected happens.

[buwaytress]

Tell you what, though, I've had 2 new requests this week from 2 separate exchanges asking for more information. Very low level stuff (ambiguous source of fund to trade crypto, which doesn't explain my activity on their platforms really) and very quick to enable. The heat's definitely coming on to exchanges so all that institutional demand's got to be routed, as exstasie says, through legitimate channels. Liquidity drying up baby.

[Porfirii]

Checking the price... and it is now $31.992,12.

I guess that the price will keep this sideways movement for the rest of the week. Which is not bad news neither: a consolidation at this 30K mark is a positive indicator for me

Let's not forget that the year is only just starting, and it will be better for the mid-long term a sustained rise than an explosive pump.

[Renampun]

Is the dip this time filling the gaps or bearish reversion?

It is very similar to 2017. And I think that BTC is preparing long term horizontal route. In near time I dont hope a new ATH.

I think that 41.8 k  stay long time the highest price

all possibilities can happen...
2017 bulls were very different from this time, at that time not many large companies made Bitcoin their safe-haven. So I can say that $ 41k ATH won't last long, Most likely this year Bitcoin will make another new ATH.

[semobo]

Reached 29K a while ago but managed to climb again to 30K so it seems there is strong resistance building up or we are just preparing for a huge long bearish dump after sideway movements.

Expect the worst ever scenario can happen so you won't be disappointed even if that happens and if it doesn't then you are a happy man.

[bryant.coleman]

Reached 29K a while ago but managed to climb again to 30K so it seems there is strong resistance building up or we are just preparing for a huge long bearish dump after sideway movements.

Expect the worst ever scenario can happen so you won't be disappointed even if that happens and if it doesn't then you are a happy man.

It resembles a bear trap. Short-term investors who sell their coins right now will regret their decision later (after a few months). The current situation resembles what happened in 2017. For the first two-three months, the prices remained stable, before the bull run resumed. The same may happen this time as well. Don't expect the bull run to resume immediately. Prices are going to remain stable for the next few months.

[btc_angela]

Reached 29K a while ago but managed to climb again to 30K so it seems there is strong resistance building up or we are just preparing for a huge long bearish dump after sideway movements.

Expect the worst ever scenario can happen so you won't be disappointed even if that happens and if it doesn't then you are a happy man.

It resembles a bear trap. Short-term investors who sell their coins right now will regret their decision later (after a few months). The current situation resembles what happened in 2017. For the first two-three months, the prices remained stable, before the bull run resumed. The same may happen this time as well. Don't expect the bull run to resume immediately. Prices are going to remain stable for the next few months.

In a bullish season, short term investors are going to get REKT. And I agree that this is 2017 all over again, first months are really a struggle, actually the first quarter, and then we have a few bumps, but the third quarter was also full of corrections and dips. And then we take off in the last quarter. If history repeats itself then we might see a new all time high before the end of this year. Best case scenario is a 6 digit figure for the first time.

[pooya87]

Reached 29K a while ago but managed to climb again to 30K so it seems there is strong resistance building up or we are just preparing for a huge long bearish dump after sideway movements.

Expect the worst ever scenario can happen so you won't be disappointed even if that happens and if it doesn't then you are a happy man.

It resembles a bear trap. Short-term investors who sell their coins right now will regret their decision later (after a few months). The current situation resembles what happened in 2017. For the first two-three months, the prices remained stable, before the bull run resumed. The same may happen this time as well. Don't expect the bull run to resume immediately. Prices are going to remain stable for the next few months.

This pattern repeats many times that it is kind of a regular theme in bitcoin. Each time we see a big rise that continues for some time, there is a sudden drop and then price stays near the bottom of that drop for some time before it continues rising (aka accumulation phase). The interesting part is the users' behavior during this time where they panic sell and continue spreading a lot of FUD.

[Ultegra134]

Reached 29K a while ago but managed to climb again to 30K so it seems there is strong resistance building up or we are just preparing for a huge long bearish dump after sideway movements.

Expect the worst ever scenario can happen so you won't be disappointed even if that happens and if it doesn't then you are a happy man.

It resembles a bear trap. Short-term investors who sell their coins right now will regret their decision later (after a few months). The current situation resembles what happened in 2017. For the first two-three months, the prices remained stable, before the bull run resumed. The same may happen this time as well. Don't expect the bull run to resume immediately. Prices are going to remain stable for the next few months.

In a bullish season, short term investors are going to get REKT. And I agree that this is 2017 all over again, first months are really a struggle, actually the first quarter, and then we have a few bumps, but the third quarter was also full of corrections and dips. And then we take off in the last quarter. If history repeats itself then we might see a new all time high before the end of this year. Best case scenario is a 6 digit figure for the first time.

I don't think it's anything similar with 2017's incident. The price is relatively stable the past week. I highly doubt that it is suddenly going to crash down to $20k for example. It will probably be quite volatile for the next few weeks.

Today, Bitcoin made an approximately 5% recovery, but I think it's probably going to crash again by tomorrow. It will probably continue in this vicious cycle for quite a while.

[wiss19]

This pattern repeats many times that it is kind of a regular theme in bitcoin. Each time we see a big rise that continues for some time, there is a sudden drop and then price stays near the bottom of that drop for some time before it continues rising (aka accumulation phase). The interesting part is the users' behavior during this time where they panic sell and continue spreading a lot of FUD.

Unfortunately there are too many people involved with their emotions, which is why we can't have a decent increase without interruption. Any time there is a correction due to a lot of people making a profit so they sell, there are people who are willing to eat up a chunk of loss and get out, and they sell right away with fear that they may lose even more if they do not sell.

Thankfully as a difference these days there are also people who are willing to buy when it goes down as well. For example if it was back in the day and we went down? People would keep on selling and selling and selling, there would be very little amount of buyers, but these days there are so many buyers who see the price go down and they think bitcoin is discounted and they buy right back, that is why there is no crash, there are small corrections and there are people who buy it back to increase it back.

[Yaunfitda]

And since the Elon Musk tweet, the price goes to $38k, then settled around $34k-$35k.

So base on the the OP's question, not going to be $27k, but $35k at least at the end of this month.

Still bullish though, and with the WSB and DOGE and GME pump, it might spill over to bitcoin next month. Last couple of days was crazy, reddit become a pump and dump group, Lol. In any case though, $40k-$50k is doable next month as we might see some spike in the price again.

[Furious 7]

And since the Elon Musk tweet, the price goes to $38k, then settled around $34k-$35k.

So base on the the OP's question, not going to be $27k, but $35k at least at the end of this month.

Still bullish though, and with the WSB and DOGE and GME pump, it might spill over to bitcoin next month. Last couple of days was crazy, reddit become a pump and dump group, Lol. In any case though, $40k-$50k is doable next month as we might see some spike in the price again.

This is really sticking out because Elon tweeted musk so it is not impossible that bitcoin will also experience the same thing in the following months, I hope this can happen, after several other coins are pumped in the near future.
The price of bitcoin will settle at $ 35k. Maybe that's more stable than some downward slides.
Haha, now many forums are discussing many famous coins after such a great pump with DOGE coins.

[KTChampions]

Since there are only a few hours left, it is easy to make a prediction: I think the price at 35 will be closer.
I think that any price above 29-30 thousand indicates an upward movement, in order to go to the level of 25 thousand, bitcoin must first break through this powerful support.

[Oceat]

Since there are only a few hours left, it is easy to make a prediction: I think the price at 35 will be closer.
I think that any price above 29-30 thousand indicates an upward movement, in order to go to the level of 25 thousand, bitcoin must first break through this powerful support.

I think $33k below is the final price for this month since the strong support of $30k is not that easily to be break. Unless some huge entities holding Bitcoin suddenly dump or an effective fud news that would make most of people to dump. Well, if they were just going to dump it then it's a waste of valuable asset. While looking at the volume it seems that sooner or later we will be back to the moon again.

I would expect another group of people to continue making fud if what they expected never met. I think this is just a normal routine of the Bitcoin market weak-hands losing their investment because they believe in a fud.

[Quidat]

Since there are only a few hours left, it is easy to make a prediction: I think the price at 35 will be closer.
I think that any price above 29-30 thousand indicates an upward movement, in order to go to the level of 25 thousand, bitcoin must first break through this powerful support.

I think $33k below is the final price for this month since the strong support of $30k is not that easily to be break. Unless some huge entities holding Bitcoin suddenly dump or an effective fud news that would make most of people to dump. Well, if they were just going to dump it then it's a waste of valuable asset. While looking at the volume it seems that sooner or later we will be back to the moon again.

I would expect another group of people to continue making fud if what they expected never met. I think this is just a normal routine of the Bitcoin market weak-hands losing their investment because they believe in a fud.

Have really a hard time on breaking 40k and breaking 30k support but the price had actually able to touched these levels but it do corrected into those numbers afterwards.
We are on the last day of this month of January and the price is playing around 33-35k but we dont know if it would actually closes into the near number of 35k on where
op had mentioned  out..For the question if when we would be heading then this would be a question remain unanswered because this market is way too unpredictable.
Thing here is that you do know on how to play with the price in spite of this very unpredictable behavior.

[kapalmabur]

the monthly candle will end in 3 hours, if the candle is above $ 32500 then I say bullish for bitcoin, but if it is below $ 32k, the volatility will increase,
somehow this will happen, we have to wait for it, for sure the predictions about $ 27000 and $ 35000 are wrong ,
since bitcoin didn't reach that target at the end of January, and $ 35k could be reached again in February, don't worry.

[LUCKMCFLY]

From what is observed, it is more likely that it will reach $ 35k again, in addition to that many investors are looking for more bitcoin, we already have the influence of Elon Musk, this is something favorable, if at the moment I had the money, I would not hesitate to buy more bitcoins, no matter what news and technical analysts show.