hatshepsut93 (OP)
Legendary
Offline
Activity: 3024
Merit: 2148
|
|
February 21, 2021, 05:42:42 PM |
|
It's not a secret that majority of the price action happened when there were big news about institutional buys - PayPal, Microstrategy, Tesla, adoption by Visa and so on. But recently Bitcoin has been going up without any such things. The Tesla-induced pump ended at around $48,000 and now we're almost $10,000 higher than that.
So, who is buying? Are institutional investors grabbing it quietly? Or is it retailers joining the bull run?
|
|
|
|
LUCKMCFLY
Legendary
Offline
Activity: 2478
Merit: 1857
Leading Crypto Sports Betting & Casino Platform
|
|
February 21, 2021, 05:53:40 PM |
|
I think that at the moment small investors, some traders and a great possibility that it is the institutions may be buying, because this is done by the emotions generated by the market.
In some newscasts they have described the rise of Bitcoin and some technology enthusiasts do not hesitate to buy at this time, also because many want to be part of history, without a doubt new ATH we have been living in this 2021.
|
..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
|
|
|
Lanatsa
|
|
February 21, 2021, 07:35:32 PM |
|
So, who is buying? Are institutional investors grabbing it quietly? Or is it retailers joining the bull run?
A question that no one can really answer it out because not all the times we can hear up news for us to point out that their the ones responsible for such increase in price. This market can really move without any news that circling around and who knows on whose buying behind? neither of those institutional investors or retailers and similar. This thing do makes even more harder if you do really talk about price action because you wouldn't know on whats coming.
|
|
|
|
R |
▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
| | | ██░░░░░░░░░░░░░░░░░░░░░░██ ▀█▄░▄▄░░░░░░░░░░░░▄▄░▄█▀ ▄▄███░░░░░░░░░░░░░░███▄▄ ▀░▀▄▀▄░░░░░▄▄░░░░░▄▀▄▀░▀ ▄▄▄▄▄▀▀▄▄▀▀▄▄▄▄▄ █░▄▄▄██████▄▄▄░█ █░▀▀████████▀▀░█ █░█▀▄▄▄▄▄▄▄▄██░█ █░█▀████████░█ █░█░██████░█ ▀▄▀▄███▀▄▀ ▄▀▄▀▄▄▄▄▀▄▀▄ ██▀░░░░░░░░▀██ | | | | | | | . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ ░▀▄░▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄░▄▀ ███▀▄▀█████████████████▀▄▀ █████▀▄░▄▄▄▄▄███░▄▄▄▄▄▄▀ ███████▀▄▀██████░█▄▄▄▄▄▄▄▄ █████████▀▄▄░███▄▄▄▄▄▄░▄▀ ████████████░███████▀▄▀ ████████████░██▀▄▄▄▄▀ ████████████░▀▄▀ ████████████▄▀ ███████████▀ | ▄▄███████▄▄ ▄████▀▀▀▀▀▀▀████▄ ▄███▀▄▄███████▄▄▀███▄ ▄██▀▄█▀▀▀█████▀▀▀█▄▀██▄ ▄██▀▄██████▀████░███▄▀██▄ ███░█████████▀██░████░███ ███░████░█▄████▀░████░███ ███░████░███▄████████░███ ▀██▄▀███░█████▄█████▀▄██▀ ▀██▄▀█▄▄▄██████▄██▀▄██▀ ▀███▄▀▀███████▀▀▄███▀ ▀████▄▄▄▄▄▄▄████▀ ▀▀███████▀▀ | | OFFICIAL PARTNERSHIP FAZE CLAN SSC NAPOLI | | |
|
|
|
NeuroticFish
Legendary
Offline
Activity: 3738
Merit: 6466
Looking for campaign manager? Contact icopress!
|
|
February 21, 2021, 08:14:08 PM |
|
So, who is buying? Are institutional investors grabbing it quietly? Or is it retailers joining the bull run?
There were threads about institutional investors buying for months more than the miners produce, day after day. Did anything change? I doubt it. And it's not that much quietly either, it was in the news. For example Grayscale is back on buying, and they do their job steadily. Did retailers join in? Probably. Some do come only when the trend is favorable, no matter how high is the price.
|
|
|
|
eaLiTy
|
|
February 21, 2021, 08:31:55 PM |
|
It's not a secret that majority of the price action happened when there were big news about institutional buys - PayPal, Microstrategy, Tesla, adoption by Visa and so on. But recently Bitcoin has been going up without any such things. The Tesla-induced pump ended at around $48,000 and now we're almost $10,000 higher than that.
So, who is buying? Are institutional investors grabbing it quietly? Or is it retailers joining the bull run?
The reason is institutional investors, the recent news is that a Dubai based businessman pledged $4.8 billion worth of BTCitcoin to set up a project in the US and may be that is the reason. There are big investments in the market and big companies are investing left and right and we are not even seeing any corrections with all these rallies which is crazy, who knows how big it will go in this rally.
|
|
|
|
Becky666
|
|
February 21, 2021, 09:25:19 PM |
|
<snip> So, who is buying? Are institutional investors grabbing it quietly? Or is it retailers joining the bull run?
For the recent information concerning the bitcoin, big companies are buying bitcoin for investment. Though we can't ruined out the possibility of the retailers buying bitcoin too becasue the market moves on a steady poles-sideways. Also, there was a rumors about bitcoin price; that after it reach the price of $50k it will move towards $70k freely, maybe this will happen this time.
|
|
|
|
bittraffic
|
|
February 21, 2021, 09:46:08 PM |
|
<snip> So, who is buying? Are institutional investors grabbing it quietly? Or is it retailers joining the bull run?
For the recent information concerning the bitcoin, big companies are buying bitcoin for investment. Though we can't ruined out the possibility of the retailers buying bitcoin too becasue the market moves on a steady poles-sideways. Also, there was a rumors about bitcoin price; that after it reach the price of $50k it will move towards $70k freely, maybe this will happen this time. Price is getting scarier every time it moves up by 10K. It's almost making me up all night thinking it could drop any movement that I will have no time to sell. I think even with big news it's still going to be alarming. Businessmen grabbing Bitcoin secretly will be great, I wish to see the news every time there is a sudden jump of spice.
|
|
|
|
Bitcoin_Arena
Copper Member
Legendary
Offline
Activity: 2086
Merit: 1810
฿itcoin for all, All for ฿itcoin.
|
|
February 21, 2021, 11:09:13 PM |
|
There could be so many reasons. For example, it could be so may retail traders buying BTC due to FOMO after knowing that the like of Tesla already boarder the ship or perhaps some big dogs are buying secretly it minus making any news or announcements about it as of now Price is getting scarier every time it moves up by 10K. It's almost making me up all night thinking it could drop any movement that I will have no time to sell.
Don't make the mistakes I made in 2017, When you hit your target price, exit and live to fight another day because when the drop starts, it's hard to see it coming.
|
|
|
|
Wexnident
|
|
February 22, 2021, 12:11:48 AM |
|
I'm guessing that after the Tesla pump, it was the market (or the majority of the community) that decided to pump it out since it seemed like it could still go on. Though I won't actually be surprised if it suddenly decides to drop due to those who bought late to start panic selling. It doesn't seem like it to go down though so we may have a new level of steady movement above 50k and would continue to hover around that area. I guess we can assume if it's true if the current state continues for one or two more days without the price going back down below 50.
|
|
|
|
R |
▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
| | | ██░░░░░░░░░░░░░░░░░░░░░░██ ▀█▄░▄▄░░░░░░░░░░░░▄▄░▄█▀ ▄▄███░░░░░░░░░░░░░░███▄▄ ▀░▀▄▀▄░░░░░▄▄░░░░░▄▀▄▀░▀ ▄▄▄▄▄▀▀▄▄▀▀▄▄▄▄▄ █░▄▄▄██████▄▄▄░█ █░▀▀████████▀▀░█ █░█▀▄▄▄▄▄▄▄▄██░█ █░█▀████████░█ █░█░██████░█ ▀▄▀▄███▀▄▀ ▄▀▄▀▄▄▄▄▀▄▀▄ ██▀░░░░░░░░▀██ | | | | | | | . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ ░▀▄░▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄░▄▀ ███▀▄▀█████████████████▀▄▀ █████▀▄░▄▄▄▄▄███░▄▄▄▄▄▄▀ ███████▀▄▀██████░█▄▄▄▄▄▄▄▄ █████████▀▄▄░███▄▄▄▄▄▄░▄▀ ████████████░███████▀▄▀ ████████████░██▀▄▄▄▄▀ ████████████░▀▄▀ ████████████▄▀ ███████████▀ | ▄▄███████▄▄ ▄████▀▀▀▀▀▀▀████▄ ▄███▀▄▄███████▄▄▀███▄ ▄██▀▄█▀▀▀█████▀▀▀█▄▀██▄ ▄██▀▄██████▀████░███▄▀██▄ ███░█████████▀██░████░███ ███░████░█▄████▀░████░███ ███░████░███▄████████░███ ▀██▄▀███░█████▄█████▀▄██▀ ▀██▄▀█▄▄▄██████▄██▀▄██▀ ▀███▄▀▀███████▀▀▄███▀ ▀████▄▄▄▄▄▄▄████▀ ▀▀███████▀▀ | | OFFICIAL PARTNERSHIP FAZE CLAN SSC NAPOLI | | |
|
|
|
wheelz1200
Legendary
Offline
Activity: 3682
Merit: 1407
|
|
February 22, 2021, 12:51:47 AM |
|
It's not a secret that majority of the price action happened when there were big news about institutional buys - PayPal, Microstrategy, Tesla, adoption by Visa and so on. But recently Bitcoin has been going up without any such things. The Tesla-induced pump ended at around $48,000 and now we're almost $10,000 higher than that.
So, who is buying? Are institutional investors grabbing it quietly? Or is it retailers joining the bull run?
I dont think crypto needs news to go up anymore. I know back in the early days it was needed to be able to see a bump or in the cases of bad news to see some drops. At this point you can see days with thousands of dollars of increase in price without any real idea of why. That to me is the most bullish reason to lay into bitcoin right now.
|
|
|
|
kotajikikox
Full Member
Offline
Activity: 2450
Merit: 215
★Bitvest.io★ Play Plinko or Invest!
|
|
February 22, 2021, 02:08:44 AM |
|
It's not a secret that majority of the price action happened when there were big news about institutional buys - PayPal, Microstrategy, Tesla, adoption by Visa and so on. But recently Bitcoin has been going up without any such things. The Tesla-induced pump ended at around $48,000 and now we're almost $10,000 higher than that.
So, who is buying? Are institutional investors grabbing it quietly? Or is it retailers joining the bull run?
I think there is no need for News when those Small investors and those institutional investors are continue buying bitcoin now while big companies are now little by little buying secretly just not to make them obvious as they in the past making fun of Bitcoin so for the essence of privacy they choose not to be in media. and also after the pandemic people stars to learn about what is crypto and since they have now resources because lock down is gone long , now they are taking the advantage to invest and be part of this maket/community .
|
|
|
|
Kemarit
Legendary
Offline
Activity: 3150
Merit: 1357
|
|
February 22, 2021, 02:34:14 AM |
|
It's not a secret that majority of the price action happened when there were big news about institutional buys - PayPal, Microstrategy, Tesla, adoption by Visa and so on. But recently Bitcoin has been going up without any such things. The Tesla-induced pump ended at around $48,000 and now we're almost $10,000 higher than that.
So, who is buying? Are institutional investors grabbing it quietly? Or is it retailers joining the bull run?
Probably both, accumulation of institutions secretly buying and not making it public. Because for sure, after the Elon Musk $1.5 billion, perhaps there are companies and institutions also joining the picture. We might get to learn maybe in the next coming months as who's who in the bitcoin ecosystem. And of course retail investors who FOMO along the way, doesn't want to miss the boat and join in the fray as well.
|
|
|
|
STT
Legendary
Offline
Activity: 3976
Merit: 1426
Leading Crypto Sports Betting & Casino Platform
|
|
February 22, 2021, 04:19:52 AM |
|
Bitcoin did rise on further news, which is the Canadian ETF news. The main point really would be that prices rise on expectations not just news, hence the famous phrase, 'buy the rumour sell the news'. If the perception is that no further news for Bitcoin occurs then fair enough but last I heard they rumoured USA etf, a change in the regulator and possible balance sheet purchases. Tesla is a big one but the bigger story still is the change of the landscape overall thats possible. Im quite bearish relative to recent action but I wouldn't especially go with this argument.
|
..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
|
|
|
pooya87
Legendary
Offline
Activity: 3514
Merit: 10712
|
|
February 22, 2021, 05:48:26 AM |
|
In my experience the news (big, small, hype, FUD) is never the reason for the price actions whether it is positive and price goes up or negative and price falls down. The news is always more like a catalyst that speeds up something that would have happened anyways. For example price would have gone up in 2021 regardless of the news, now with the news it goes up faster because the positive news removes some of the roadblocks that could slow down that rise. Same with drops, for example the 2018 drop would have happened regardless of the FUD even though the market was filled with it. The FUD only increased the speed of the drop due to increased number of panic sells.
|
. .BLACKJACK ♠ FUN. | | | ███▄██████ ██████████████▀ ████████████ █████████████████ ████████████████▄▄ ░█████████████▀░▀▀ ██████████████████ ░██████████████ █████████████████▄ ░██████████████▀ ████████████ ███████████████░██ ██████████ | | CRYPTO CASINO & SPORTS BETTING | | │ | | │ | ▄▄███████▄▄ ▄███████████████▄ ███████████████████ █████████████████████ ███████████████████████ █████████████████████████ █████████████████████████ █████████████████████████ ███████████████████████ █████████████████████ ███████████████████ ▀███████████████▀ ███████████████████ | | .
|
|
|
|
robelneo
Legendary
Online
Activity: 3304
Merit: 1209
|
|
February 22, 2021, 06:10:50 AM |
|
It's not a secret that majority of the price action happened when there were big news about institutional buys - PayPal, Microstrategy, Tesla, adoption by Visa and so on. But recently Bitcoin has been going up without any such things. The Tesla-induced pump ended at around $48,000 and now we're almost $10,000 higher than that.
So, who is buying? Are institutional investors grabbing it quietly? Or is it retailers joining the bull run?
Everybody is continuously buying, investors now understand that they don't need news to pump Bitcoin because it's the future and will continue to show strength in the market, PayPal and other institutions are continuously buying because there is demand and there is going to be demand they anticipated the future where institutions who will come later, will do buying spree and they are buying the stocks to sell for them.
|
|
|
|
orions.belt19
|
|
February 22, 2021, 01:13:29 PM |
|
It's because we are currently experiencing a bull run. The general trend of BTC is going up and the news can either affect the price and make it go up and down.
Additionally, I think we are in that phase where celebrities are joining in which also encourages new retail investors. Asides from Elon, you can see other celebrities speaking about it on twitter such as Gene Simmons, Snoop Dogg and streamer/gamer Mr. Beast. That one time Elon changed his profile picture to something bitcoin or crypto related has driven the price upwards. Other than that, there's also interest from institutions ever since Tesla made that $1.5B purchase. Any exposure on crypto can really drive the price up.
|
|
|
|
Viscore
|
|
February 22, 2021, 01:41:02 PM |
|
This is a continuous market effect on the previous announcements. It is quite not to hear someone or other companies did the same but these small market players and users are giving their interest in Bitcoin, and it keeps the demand high, the price spike again. We cannot ignore this and this Bullrun will never stop until such a time that everyone has done buying/investing.
Ain't to wonder if the price will rise but I'd to wonder what will happen to these new investors if they are seeing huge correction and market declines. I was supposed to wait for that and to know how strong they to keep and hold their Bitcoin.
|
| . .Duelbits. | │ | | │ | ▄▄█▄▄░░▄▄█▄▄░░▄▄█▄▄ ███░░░░███░░░░███ ▀░░░▀░░▀░░░▀░░▀░░░▀ ▄░░░░░░░░░░░░ ▀██████████ ░░░░░███░░░░▀ ░░█░░░███▄█░░░█ ░░██▌░░███░▀░░██▌ ░█░██░░███░░░█░██ ░█▀▀▀█▌░███░░█▀▀▀█▌ ▄█▄░░░██▄███▄█▄░░▄██▄ ▄███▄ ░░░░▀██▄▀ | . REGIONAL SPONSOR | | ███▀██▀███▀█▀▀▀▀██▀▀▀██ ██░▀░██░█░███░▀██░███▄█ █▄███▄██▄████▄████▄▄▄██ ██▀ ▀███▀▀░▀██▀▀▀██████ ███▄███░▄▀██████▀█▀█▀▀█ ████▀▀██▄▀█████▄█▀███▄█ ███▄▄▄████████▄█▄▀█████ ███▀▀▀████████████▄▀███ ███▄░▄█▀▀▀██████▀▀▀▄███ ███████▄██▄▌████▀▀█████ ▀██▄███▀██▄█▄▄▄██▄████▀ ▀▀██████████▄▄███▀▀ ▀▀▀▀█▀▀▀▀ | . EUROPEAN BETTING PARTNER | |
|
|
|
el kaka22
Legendary
Offline
Activity: 3584
Merit: 1162
www.Crypto.Games: Multiple coins, multiple games
|
|
February 22, 2021, 07:00:18 PM |
|
Bitcoin never "needed" news to go up, this is a "all thumbs are fingers but not all fingers are thumbs" type of situation where a great news would make it go up of course but it could go up without a great news as well, it is not a must and that is what we had on that recent run.
This doesn't mean that great news like tesla buying, microstrategy buying or something becoming more relax in regulations etc etc whatever good news is would be bad for us, I would love to hear Apple buying 5 billion dollars worth of bitcoin for example, not saying that would happen but if it were to happen that would be amazing and increase the price insanely high, probably closer to 70k as well. However just because that would be awesome doesn't mean that the price will go back to 10k unless Apple buys bitcoin, it doesn't work like that and we should not be making that a must neither.
|
|
|
|
bittraffic
|
|
February 22, 2021, 07:45:53 PM |
|
Bitcoin never "needed" news to go up, this is a "all thumbs are fingers but not all fingers are thumbs" type of situation where a great news would make it go up of course but it could go up without a great news as well, it is not a must and that is what we had on that recent run.
This doesn't mean that great news like tesla buying, microstrategy buying or something becoming more relax in regulations etc etc whatever good news is would be bad for us, I would love to hear Apple buying 5 billion dollars worth of bitcoin for example, not saying that would happen but if it were to happen that would be amazing and increase the price insanely high, probably closer to 70k as well. However just because that would be awesome doesn't mean that the price will go back to 10k unless Apple buys bitcoin, it doesn't work like that and we should not be making that a must neither.
I think because there is news that has a long effect, it takes months to a year before we can see the effectlike the halving last year, and then there's Paypal. But for the current price right now, I'm not sure if an individual will buy without hearing an assurance. Positive news makes people buy and if the price just spike sharply without anything, the next could just be dump and it just happen today. I hope its not bearish yet.
|
|
|
|
sunsilk
|
|
February 22, 2021, 08:45:15 PM |
|
Even though there's a sudden correction, the possible reason even without news why bitcoin is pushing upwards last time is because the action combined by institutional and retail investors. There are those institutions that are continuously buying.
And we will never know who are the others that haven't yet exposed to the public that they're also buying. Soon, we will probably know them if they're ready to announce it that they've been stacking quietly all of these times.
|
|
|
|
|