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Charles-Tim
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March 07, 2021, 02:30:34 PM |
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I have read about this some days ago, which is an indication that whales are not ready to sell for now, which is an indication bitcoin price is not decreasing for now, it will be between $40000 to $60000. Although, I do not know if the price of bitcoin will break $60000 but whales holding on wallet now indicate the price will not decrease.
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Poker Player
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March 07, 2021, 03:02:06 PM |
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Yes, we have been following this trend for some time, as shown in the chart and as discussed in other posts. It looks like the price has to keep going up, with its drawbacks, of course, but the equation is clear: High demand- Low supply. Therefore, the price has to keep going up.
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mk4
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March 07, 2021, 03:40:42 PM |
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Yes, we have been following this trend for some time, as shown in the chart and as discussed in other posts. It looks like the price has to keep going up, with its drawbacks, of course, but the equation is clear: High demand- Low supply. Therefore, the price has to keep going up.
Maybe. But let's not be too overconfident and think that just because people are withdrawing funds on exchanges, it automatically means that the price will go up. First, demand still needs to keep up. While I'm pretty confident on this, it's still definitely not guaranteed. Second, let's not forget that people cant simply send the coins from their own wallets back to the exchanges LOL.
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Tytanowy Janusz
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March 07, 2021, 04:55:39 PM |
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This is pretty decent drop. Like >20%. Where to find chart for longer period? Like 2014 - 2021. Or similar chart for stable coins? the price will rise easily after 58,330.57 point.
Everyone who was here during 2017-2018 bubble burst knows that that's not how the end of bull market looks like for bitcoin. -20% dump and calm consolidation. The end of bull market will be like -40% in a week, -70% in 2 months. So I agree. We will fly easily after breaking new ATH.
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BrewMaster
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March 07, 2021, 05:30:02 PM |
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although it is extremely hard to measure how much bitcoin is on exchanges and how much is in cold storages but it is not surprising that people are moving out of exchanges nowadays that bitcoin price is inside a short channel going up and down without breaking out. this is how the accumulation phase also works. people keep buying bitcoin and there soon will be a shortage of supply on exhanges and price is going to shoot up.
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There is a FOMO brewing...
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The Sceptical Chymist
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March 07, 2021, 06:03:06 PM |
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the equation is clear: High demand- Low supply. Therefore, the price has to keep going up.
Eh....maybe. There's no telling how long this "trend" is going to continue--and if you've been into bitcoin long enough, you ought to know that surprises should come as no surprise. Those companies that bought bitcoin may or may not hold onto it forever, and if any one of them decide to dump their holdings onto the market, watch out. There'll be plenty of bitcoin available across all the exchanges in no time. But I'm hoping you're correct, because low supply on exchanges (and assuming a constant or increasing demand) should mean a boost in price. You just never know, though. Demand could slump and a lot of individual sellers could drive the price down if they decide to sell all at once. Somehow I don't see that happening anytime soon, because the vibe I'm getting from the market is extremely bullish. Damn good year for bitcoin so far, I must say. Let's hope it continues.
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Oshosondy
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March 07, 2021, 06:36:25 PM |
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But I'm hoping you're correct, because low supply on exchanges (and assuming a constant or increasing demand) should mean a boost in price. You just never know, though. Demand could slump and a lot of individual sellers could drive the price down if they decide to sell all at once. Somehow I don't see that happening anytime soon, because the vibe I'm getting from the market is extremely bullish.
Damn good year for bitcoin so far, I must say. Let's hope it continues.
That is exactly what is happening, no downtrend this time, bitcoin price will either increase or just remain good, but I really valid your point, if any institution withdraw large percentage of bitcoin, panic and fomo seller will full the market in no time, thereby selling bitcoin, which can result to downtrend price. This increment continues but as the calm will also be the storm, it can not continue like this, there will be some bad months for bitcoin, but over long time, the price will always increase more.
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passwordnow
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March 07, 2021, 09:08:59 PM |
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The clear thing this time is that many are not willing to sell chunks of their bitcoins at any point. While the large enterprises are buying a lot of bitcoin with those millions to billions of purchases. It is a sign that they're trying to work on it for the lesser supply in the circulation and whoever holds the most is onto the top of the game/market. If this continues, just as what happened to some exchanges, they may put a limit on each sale that they do for bitcoin even though with complete compliance for their users account.
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Quidat
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March 07, 2021, 09:41:00 PM |
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There are only 2 reasons i do have in mind on why balance on btc exchangers are going low.
•People are afraid with exchange hacks so they opt to hold in into their own non custodial or hardware wallets. •People doesnt tend to sell out for now and decided to pull off those funds out of exchange and make transactions later when its the right time for them to sell
It isnt really surprising for this kind or having this statistics because even how exchange platform or service to be that popular doesnt mean that confidence would really be still that high.
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Heisenberg_Hunter
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March 07, 2021, 09:56:12 PM |
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Everyone who was here during 2017-2018 bubble burst knows that that's not how the end of bull market looks like for bitcoin. -20% dump and calm consolidation. The end of bull market will be like -40% in a week, -70% in 2 months. So I agree. We will fly easily after breaking new ATH.
The people like you and me (who registered during 2018 era) very well know that how random threads would pop up now and then to express the excitement during the bull market it's very well known people from 2017-2018 has matured similar to how people from 2013 were matured in 2014. All these NFTs, altcoins and the Defi trend are meant to rob Bitcoins from bitcoiner and turn them into a nocoiner during the long run and that's how the ICO guys did and ran away ruining the whole market. We could say that people who sustained the 2019 drop are more or less driven towards the tech behind bitcoin and not regarding these no-brainer price predictions. Having lost some serious amount of bits in alts, I believe people believing in NFTs and Defi would end up in the same way. On top of this, there are still quite minor differences between the 2017 bull run and 2021 bull run i.e 2017 was driven by insiders, whales and ICO scamsters but 2021 is being fuelled by institutional investors and NFT and Yield scam artists! If a whale like Saylor dumps his coin, the FOMO would kick in but I personally wouldn't trust Saylor's word after his DotCom crash words and knowing about his tweet from 2013 #Bitcoin days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling.
Sadly, bitcoin has moved completely away from the way how Satoshi envisioned it to be. If this continues, the commerce market of bitcoin would die very soon (i.e none would use Bitcoin to buy or sell goods) because speculation would rise in huge percentage and HODLERs will increase the demand for the same.
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aoluain
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March 07, 2021, 10:59:34 PM |
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Q. Why would you have Bitcoin on an exchange (other than having nowhere else to store it)? A. because you are going to sell or trade it in the very near future.
Q. Why would you take it off an exchange? A. Because you are not planning on selling or trading it in the short to medium term at the least.
More and more people are practicing the art of HODL, and are looking to the long term, same as what Michael Saylor is preaching. Combine this with only 6.25 Bitcoin being generated per block, 900 per day it kind of creates a shortage.
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thecodebear
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March 08, 2021, 04:56:04 AM |
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Everyone who was here during 2017-2018 bubble burst knows that that's not how the end of bull market looks like for bitcoin. -20% dump and calm consolidation. The end of bull market will be like -40% in a week, -70% in 2 months. So I agree. We will fly easily after breaking new ATH.
The people like you and me (who registered during 2018 era) very well know that how random threads would pop up now and then to express the excitement during the bull market it's very well known people from 2017-2018 has matured similar to how people from 2013 were matured in 2014. All these NFTs, altcoins and the Defi trend are meant to rob Bitcoins from bitcoiner and turn them into a nocoiner during the long run and that's how the ICO guys did and ran away ruining the whole market. We could say that people who sustained the 2019 drop are more or less driven towards the tech behind bitcoin and not regarding these no-brainer price predictions. Having lost some serious amount of bits in alts, I believe people believing in NFTs and Defi would end up in the same way. On top of this, there are still quite minor differences between the 2017 bull run and 2021 bull run i.e 2017 was driven by insiders, whales and ICO scamsters but 2021 is being fuelled by institutional investors and NFT and Yield scam artists! If a whale like Saylor dumps his coin, the FOMO would kick in but I personally wouldn't trust Saylor's word after his DotCom crash words and knowing about his tweet from 2013 #Bitcoin days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling.
Sadly, bitcoin has moved completely away from the way how Satoshi envisioned it to be. If this continues, the commerce market of bitcoin would die very soon (i.e none would use Bitcoin to buy or sell goods) because speculation would rise in huge percentage and HODLERs will increase the demand for the same. You don't trust Saylor, who is probably the biggest bitcoin bull there is now, and the biggest evangelist bitcoiner in the world right now, because of a tweet from 8 years ago?? That's a strange opinion. Satoshi may have envisioned Bitcoin as a means of everyday payment on-chain, but between the extreme limitation in blocksize and its monetary policy, what he actually built in bitcoin is the hardest form of money the world has ever known. That's not a sad thing. Thats an incredible thing. You want something to have everybody buying and sell goods with, get a stablecoin. You want to preserve and grow your wealth by owning hard money, get bitcoin - it's doing exactly what its design suggested it would do.
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Silberman
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March 08, 2021, 05:18:44 AM |
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More people are moving them BTC for exchange to Cold storage and with difficulty accessing many platforms when Bitcoin breaks ATH and the institutional demand increases, the price will rise easily after 58,330.57 point.
This is a very good sign, not only whales are moving their coins to their own wallets I am sure that people with holdings that are more modest are doing the same despite the high fees, whether because people are finally taking into account the fact that they should be the only ones that should know their private keys to their addressees or because they are afraid of exchanges getting hacked this is a great development which indicates that the price for the long term is probably to keep going up as it seems the majority of the market is not interested in selling anytime soon.
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wheelz1200
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March 08, 2021, 05:34:18 AM |
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Finally. Its not so much as peoe are moving to cold storage as it is that people are finally realizing exchanges aren't wallets. I've waited for the day when exchange balances finally go down. Too many people will get burned as exchange "hacks" won't stop and we will lose too many people along the way.
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Heisenberg_Hunter
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March 08, 2021, 06:54:18 AM |
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You don't trust Saylor, who is probably the biggest bitcoin bull there is now, and the biggest evangelist bitcoiner in the world right now, because of a tweet from 8 years ago?? That's a strange opinion.
I am a evangelist bitcoiner not just because of the insane prices hikes but just because I am aware of the technology behind the currency which rules this world! As I have said above, I don't trust Saylor's words not only because of his 8 year old tweet but because of his dot come bubble crash where Microstrategy was filing fake profits while the company was almost failing. There was no reason to deny the fact that companies like MSTR was one among the companies who were responsible for dot com crash back in early 2000s. We are driven by fake manipulation and speculation which investors who doesn't know a shit about bitcoin and still investing must understand. There has been a huge surge in DOGE prices because of Elon's manipulative tweets but was the demand for DOGE the same? Atleast 75% of the investors of bitcoin never know what is bitcoin but are driven to price actions because of manipulative actions from bulls like Saylor. On the other hand, whales like Winklevoss twins could be trusted because they not only run a business on top of crypto but they have been a early bitcoin supporter since 2013 onwards and similarly Jack Dorsey who is working on solving bitcoin's scalability by organizing funds and bringing in new developers! I consider Saylor is similar to Mcafee who drives price to rake profits but jack and Winklevoss aren't the same. Satoshi may have envisioned Bitcoin as a means of everyday payment on-chain, but between the extreme limitation in blocksize and its monetary policy, what he actually built in bitcoin is the hardest form of money the world has ever known.
How often can we trust a stablecoin like USDT to have all the tokens backed to USD? A bitcoin economy could one day become mainstream but until then the speculation and price shifts would continue. I am eagerly waiting for Lightning to become mainstream so that most of the merchants could start accepting bitcoin as a means of payment which could drive prices due to the liquidity which are being created in the process. There is a difference between calling bitcoin a deflationary currency and as an asset.
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Wind_FURY
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March 08, 2021, 10:47:08 AM |
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Smart money is hedging for what Satoshi created Bitcoin for, in my opinion. BRRRR money printing, highest M2 Money Supply in history, lowest Velocity of Money in history, most of economy closed/partially closed, more money printing for U.S. $1.9 Trillion COVID-19 release package, THEN open the economy on 2022? Are you a Bitcoin HODLER? GOOD! Bear market will be postponed indefinitely.
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arwin100
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March 08, 2021, 12:38:09 PM |
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Just don't make yourself to get over confident on that conditions since we still doesn't know on what whales thinking over that situations since anytime they could dump their hodl coin if they get enough or get bored for the action made by bitcoins. That's the reason why we need to watch the flows to do some actions if there's opportunity to gain from our positions or take some action if theirs bad slides to minimize our lose if market is not doing good at the moment.
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bryant.coleman
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March 08, 2021, 01:10:24 PM |
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This may be due to the fact that institutional investors are accumulating Bitcoin. Small scale traders are increasingly getting pushed out of the market, and large-scale investors and institutions are replacing them. And the latter type is unlikely to store their coins in exchange wallets. And it is the safest thing to do as well. We never know when some of these exchanges will get hacked and their coins stolen.
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TheBeardedBaby
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₿uy / $ell ..oeleo ;(
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March 08, 2021, 02:36:42 PM |
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Keeping 14K on exchanges when 1 BTC was 7K is not that big of a deal, but keeping 100K+ is something else to consider, now I would not risk it at all. If you still want to keep 10K usd it will be like 0.2BTC big difference. Imagine people having more than 2 btc. If you are not a day trader you better keep them off the Internet at all. This is just a logical change after this insane btc price move.
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