The price of bitcoin may go bull soon

[Oshosondy]

This is not a certainty but a means bitcoin price can be predicted. Whales and many holders have sold bitcoin since February, the number of addreses holding 1000 bitcoin reduced by 10% till now, and data have revealed that whales have stopped selling because the numbers of addresses holding 1000 has not been decreasing unlike from February, also long-term bitcoin holders are no more selling like before, the rate of selling has slowed down. Miners have turned into accumulation again just like when such bull market was predicted last in March. Lastly what makes me think this can result to bull market is because institutions are still in high demand for bitcoin.

https://cointelegraph.com/news/5-key-reasons-why-bitcoin-will-likely-see-new-all-time-highs-soon
Weekly ascending triangle close to a break
Since the beginning of February, a weekly ascending triangle has formed. Statistically, this chart pattern gives a higher likelihood of breaking to the upside than to the downside.

If the price were to break to the upside, the size of the triangle suggests a potential breakout target toward $79,000. While neither the break to the upside nor the price target is a certainty, it is a chart worth keeping an eye on alongside major on-chain

What is your say on this? As for me I think bitcoin price may likely still increase soon?

[1714761067]

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[Mpamaegbu]

OP, you should edit your title. I guess you meant to write, "The reason..." right? Well, to the discussion at hand, I believe the bulls are already exhausted and getting ready for retirement so that the alts rally can set in. Just check the total market cap dominance and you will see that Bitcoin has been dropping since this month. I think its dominance stands at 54% now as against around 65% or so it was a few months ago. The more the dominance diminishes the more investors are transferring cash to buying alts. So, we're likely going to see alts surge in weeks to come from now.

[Oshosondy]

OP, you should edit your title. I guess you meant to write, "The reason..." right?

Than you for the correction, I have edited the title already.

The more the dominance diminishes the more investors are transferring cash to buying alts. So, we're likely going to see alts surge in weeks to come from now.

Thanks for contributing but this thread will focus only on bitcoin. Do you think bitcoin will increase price soon due to the reasons above?

[Mpamaegbu]

Thanks for contributing but this thread will focus only on bitcoin. Do you think bitcoin will increase price soon due to the reasons above?

But I already answered your question, except you didn't decode it in the post I made above. Bitcoin price is coming down and that's indicated in the market dominance. Yes, institutions may be showing buying interest but that isn't enough to push price if the retail traders and pockets of hodlers aren't interested in doing same. I don't see Bitcoin price go above the $60,000 ATM until the altcoins have had their rally too. It's going to be a decline for Bitcoin going forward for a major correction.

[Marvelman]

For those who missed out on the first bull, now is the time to buy. Speculators should do their due diligence and understand the risks. Yet those who are bullish, whether they are large or small speculators, or day traders or active holders, should continue to buy and hold.

Those who hold it for the long-term will surely do well.

[pixie85]

I read about a bitcoin pi cycle indicator and in the past 2 bull markets (2013 and 2017) it was very accurate. It even managed to accurately point the top twice in 2013 (in Spring and Winter).

If it were to be correct once again we should have another big pump to a new high within 2 weeks, followed by a large correction. It's going to depend on whether the lines cross. THey're pretty close together now but it doesn't mean they will cross this week . I'm not going to sell if we pump a bit and the lines cross, but I'm going to watch this out of pure curiosity.
https://www.lookintobitcoin.com/charts/pi-cycle-top-indicator/

[Hypnosis00]

I read about a bitcoin pi cycle indicator and in the past 2 bull markets (2013 and 2017) it was very accurate. It even managed to accurately point the top twice in 2013 (in Spring and Winter).

If it were to be correct once again we should have another big pump to a new high within 2 weeks, followed by a large correction. It's going to depend on whether the lines cross. THey're pretty close together now but it doesn't mean they will cross this week . I'm not going to sell if we pump a bit and the lines cross, but I'm going to watch this out of pure curiosity.
https://www.lookintobitcoin.com/charts/pi-cycle-top-indicator/

I thought we reach already the very peak of this Bullish season for Bitcoin?
I was thinking now for possible dumps but just to look into that indicator, isn't over yet. But, I don't give the fullest expectation to that, it is just because I don't want to get disappointed just like having a feeling of last 2017 bullish ends. We are expecting a lot for that time but that all be gone when a drastic downfall comes next to it and many were not prepared for the said drops.

I keep believing that the market is really unpredictable and that neither thinks that it will happen even there is stable market demand. Or even they have shown it right twice.

[elisabetheva]

I read about a bitcoin pi cycle indicator and in the past 2 bull markets (2013 and 2017) it was very accurate. It even managed to accurately point the top twice in 2013 (in Spring and Winter).

If it were to be correct once again we should have another big pump to a new high within 2 weeks, followed by a large correction. It's going to depend on whether the lines cross. THey're pretty close together now but it doesn't mean they will cross this week . I'm not going to sell if we pump a bit and the lines cross, but I'm going to watch this out of pure curiosity.
https://www.lookintobitcoin.com/charts/pi-cycle-top-indicator/

indeed we need indicators that can strengthen our belief to take action, including those of you who have used and believed it, of course very happy to be able to get a handle on at least an analysis that can be a measure of accuracy, even though the results may be different but indicators are still very much needed.

I actually see from the first and second halving which are always accurate, after the halving has passed a year later at the end of the year bitcoin will reach its best point, as you also said. 2020 is the third halving but at the end of 2020 bitcoin made an increase beyond the habit of halving, at that time it was estimated that the halving would be even earlier. but at the beginning of the year bitcoin did not experience any correction, even creating its newest ATH in a row. signifying that it wasn't a halving but an effect from @elonmusk.

so the end of this year it is expected that the halving will occur and you can imagine with the price of bitcoin now it is certain that the end of the year will be a tremendous increase.

[SquirrelJulietGarden]

This is not a certainty but a means bitcoin price can be predicted.

The market is agnostics and you can not predict it.

Whales and many holders have sold bitcoin since February, the number of addreses holding 1000 bitcoin reduced by 10% till now, and data have revealed that whales have stopped selling because the numbers of addresses holding 1000 has not been decreasing unlike from February, also long-term bitcoin holders are no more selling like before, the rate of selling has slowed down. Miners have turned into accumulation again just like when such bull market was predicted last in March.

Bitcoin is traded on hundreds of crypto exchanges and whales are not the only people who have bitcoin. The scarcity of bitcoin and positive thoughts of people with support from institutional investment and big capital help it rises more. Whales can split their bitcoin to 1000 BTC for each address or split it to x2 addresses with 500 BTC for each. The power is still in whales' hands.

Lastly what makes me think this can result to bull market is because institutions are still in high demand for bitcoin.

I agree but they use their money to invest long term into bitcoin. It is not a reason that bitcoin may rise in this month or next month.

https://cointelegraph.com/news/5-key-reasons-why-bitcoin-will-likely-see-new-all-time-highs-soon
Weekly ascending triangle close to a break
Since the beginning of February, a weekly ascending triangle has formed. Statistically, this chart pattern gives a higher likelihood of breaking to the upside than to the downside.

The market beats you when patterns are failed and they are set up by whales.

[maxreish]

In that case, if whales really keep om holding their bitcoin. Then we will gonna expect another bull run again. At somehow, others predicted bitcoin to be bullish at $100,000 this year. Probably possible because we already reached new ATH at $60,000.
 
 But then again, how long does this slow selling transactions of whales lasts? We can't predict their mind and so we don't know yet "when" they gonna sell their bitcoin.

[Lorence.xD]

For those who missed out on the first bull, now is the time to buy. Speculators should do their due diligence and understand the risks. Yet those who are bullish, whether they are large or small speculators, or day traders or active holders, should continue to buy and hold.

Those who hold it for the long-term will surely do well.

For me, if you are aiming for the long term, I think that anytime is the best time to buy bitcoin but the quote above is also right, if you are ever planning to buy bitcoin, then the time is now.

[cabron]

What could be a reason why a whale who 100% hold his coin up to the price of $60 sell their stash when he knows the price could go up to a staggering $100K because of the crisis happening today? 

They sure had bought their coins again when the prices drop back and forth from $50 to $60k. Now that there's too few coins to juice out of the weakhands, its preparing to spike again.

[Kittygalore]

What could be a reason why a whale who 100% hold his coin up to the price of $60 sell their stash when he knows the price could go up to a staggering $100K because of the crisis happening today? 

They sure had bought their coins again when the prices drop back and forth from $50 to $60k. Now that there's too few coins to juice out of the weakhands, its preparing to spike again.

We don't know what plans that they have on what to do with their current stash but we know that what they are going to do is going to be making waves and we have to be ready when it happens. I wouldn't necessarily agree that there is less weaker hands because as bitcoin grows, I am pretty sure that there are going to be a lot of people too and in those people, most are likely weak handed when it comes to investing.

[Yaunfitda]

What is your say on this? As for me I think bitcoin price may likely still increase soon?

Yes, as many had predicted that bitcoin will go on a 6 digit run, we are just half of it, at $50k++. There's a lot of indicators short and long term that the bull run will continue at the end of the year. Of course, we won't see a parabolic rise, we will see a lot of corrections every month and the growth spurt might slow down as we approach $70k and up.

So patience is the key for majority of holders, and if ever there is a dip, buy at your convenience and just continue to accumulate or stack sats.

[pooya87]

Whales and many holders have sold bitcoin since February,

You can not possibly know that.

the number of addreses holding 1000 bitcoin reduced by 10% till now,

This means nothing because for starters addresses that have high balance usually belong to big services not individuals and secondly an individual can split their coins among multiple addresses instead of holding all of it in one address.

and data have revealed that whales have stopped selling because the numbers of addresses holding 1000 has not been decreasing unlike from February,

Again addresses holding X number of bitcoin are not indication of anything. Not to mention that whales are active market participants and usually have a lot of bitcoins stored on exchanges not in a single address.

Miners have turned into accumulation

Yet another baseless claim.

What is your say on this? As for me I think bitcoin price may likely still increase soon?

A breakout is long overdue and we are indeed in an accumulation phase as the charts and the high daily volume suggests not because of what addresses hold how many coins.

[davis196]

At this point,everyone on the crypto market expects the price to go up-The crypto whales,traders,miners,the average Bitcoin HODLer....
Everyone will be surprised,when the price won't be going up.The bullish expectations can turn pretty easily into bearish reality.At some point,the greed will turn into fear and a big part of the HODLers might start selling BTC,just to keep their profits from the previous bull runs.There's nothing wrong with that.Bitcoin is bullish in the long term,but there will always be a risk of bear markets in the short term.

[raidarksword]

I believed where in bull seasons now that's why we are very happy that finally had a break out by shattering new ATHs in the market and it's still pretty amazing accolades that bitcoin keeps growing stronger than few years back. The happiness cannot be contained that market is healthier than ever before, wherein holders and crypto enthusiasts are glad about it.

[RILWAN]

After being around for almost two years in cryptocurrency and this forum, I can say that we have seen several of this kind of statements. Despite the fact that bitcoin wallet movements in some quarter have reduced it  doesn't stop the price from correcting down or go bullish going forward. The whale don't move bitcoin any how those that influence the price of bitcoin are the traders on the various exchanges.

[slaman29]

Yeah and now even Bloomberg is saying $400k is possible this year. Not very common to see a traditional company going bigger than crypto companies like Gemini (who said that $150k IIRC)!

I don't think 400k will happen when it's already April now and 100k itself will be such a huge psychological milestone that will get a lot of people to sell instead of buying more.

[KeezAZA]

 instead of greedy money services I send to my friends bitcoin