May 13th, Bitcoin will surge to $70k or it will be dump?

[yhiaali3]

This is for sure, I don't know if the news about Alibaba's buying of bitcoin is true because I heard that they will be the first supporter of the Chinese digital yuan, but regardless of if the rumors are true, we will definitely see a crazy bullish movement in Bitcoin like what happened when Tesla bought Bitcoin.
We will witness a dramatic movement of Bitcoin in the month of May, especially with the increase in news of large companies buying bitcoin, the last of which was Nexon Games company.

[coin-investor]

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

USA: Tesla buys $1,5bn in Bitcoin. China: Alibaba, hold my beer.

Honestly, I am not aware of the rumors and many people here are not but if the rumors are confirmed to be true expect a massive pump and $70k is just a start, people want confirmation people they invest, majority of investors are weak hands and part of the domino effect, who will just follow the market trend and whales whenever there is movement in the market.

[stadus]

On the other hand, if this rumor is not true, will we see the opposite of our expectations?

This rumor has not a reliable source, I think Ma is not into investing in bitcoin as he thinks it's a bubble, but now his company acquired BTC worth billions?
That doesn't make sense, I know there are people who hate but later invest in bitcoin, but I doubt Alibaba would do that.

[STT]

I thought that Alibaba has already shoot down the rumour already?

Besides the Chinese government is hot on Alibaba and Jack Ma's company, their IPO didn't went on schedule because of regulatory pressures. And with that, I doubt that they wanted to make it worst on the eyes of Chinese regulators by investing their assets on BTC. And there was a interview from Jack Ma in 2019 saying that bitcoin is a bubble. So did he made a U-turn? So again, will take this rumour with a grain of salt.

I concur, upsetting the FEDS is one thing but you dont set out to upset the Chinese military dictatorship the communist firing line might just take you out and China isnt open to free currency and decentralized system of movement in anything really.   I really dont see this company allows themselves the risks of extreme censorship by such an easily harsh regime.     I indirectly own shares in Alibaba, I dont mind innovation at all or crypto but maybe dont cause unneeded trouble also especially while still growing.

Even disregarding that, if the 20bn is already purchased in entirety it could also be taken as some negative.  The news is within the price, more bullish would be if we already rose this far for other reasons and then in the future this company announces they will move away from Chinese and Dollar currency to Bitcoin in any part at all.    Thats when the price really would go up I think, but I disagree with OP premise as news of whatever occurred is not outright positive we are discussing rumors really but you want to know the effect on this date and its at best 50/50 either way.

[Scripture]

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

USA: Tesla buys $1,5bn in Bitcoin. China: Alibaba, hold my beer.

This is just a speculation but if this is true, then we can expect another pump with Bitcoin since we all know Alibaba is a huge company as well and China is also a great country that support Bitcoin today after so many years of denying it.

Bitcoin is still on the up trend, we might see new all time high again in the coming days. Though this is not a financial advice, buying bitcoin today might give you profit by next week, we'll find out.

[slapper]

If there is an offcial annoucement from Alibaba, this will definitely be the great news for bitcoin and investors. People prbably take the opportunity to invest more money in bitcoin and push the price to $70k

Personally, I do not trust rumors because they are too untrustworthy and manipulative. So basically, big firm and holdings might have the official news before us and invest their money while bitcoin is low in order to sell when the news releases. It is not fair to new investors who just blindly jump on the ship

[adaseb]

This will most likely be like the Apple earnings which were also suppose to put Bitcoin on balance sheet, so we rallied to the earnings and then when we heard that they didn't buy Bitcoin, we dumped hard and alot of longs got stuck.

I heard this rumor and have no idea how it started. I think someone on Reddit posted it without any actual proof and it just took off. Maybe I would believe it if it was like $500 million or so however $20B is just ridiculous and I don't believe they would buy that much. If they were to buy it they would of bought it a long time ago not at $50K. I am pretty sure its a rumor.

[LogitechMouse]

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

USA: Tesla buys $1,5bn in Bitcoin. China: Alibaba, hold my beer.

I did a quick google search just now and it looks like that this "Alibaba buying Bitcoin" will remain as a rumor "at least for now".
I quoted the last part because I believe that they might enter too like most institutions did and will buy Bitcoin but on the other hand, I'm also thinking that Alibaba will not even try to touch it.

There are still 9 days before the 13th of May and it looks like that $70,000 prediction by this date is impossible to happen. ~$14,000 price increase in just 9 days?? I don't think that it is even possible not unless this rumor will happen in the next 9 days then it might be or at least break the previous ATH of Bitcoin but will not pass $70,000. I also believe that the previous support of $47,000 will be the strong support as of now and it will move sideways around $47,000 - $60,000.

[magneto]

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

USA: Tesla buys $1,5bn in Bitcoin. China: Alibaba, hold my beer.

I highly doubt that Alibaba has bought that much crypto.

Firstly, if they did, then the price action would be a lot crazier than they are currently. Unless they spread out their buys over a period of months which is very, very unlikely, a purchase of this size would swing the market up a lot more than the current price action suggests.

Secondly, they're already at odds with Chinese regulators. I highly doubt that Jack Ma and co. are stupid enough to actively trade a contentious asset under Chinese law.

[arwin100]

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

USA: Tesla buys $1,5bn in Bitcoin. China: Alibaba, hold my beer.

I highly doubt that Alibaba has bought that much crypto.

Firstly, if they did, then the price action would be a lot crazier than they are currently. Unless they spread out their buys over a period of months which is very, very unlikely, a purchase of this size would swing the market up a lot more than the current price action suggests.

I have doubts about that news also since maybe they are spreading that information to hype and its so dangerous for us to engaged with it especially if we get FOMO when the price starting to ride up, but as I see there's no big move happening so I assume that we are right about our speculation since market is at stable situation right now.

[traderethereum]

If that news is real, that can boost bitcoin price to increase because that can give confidence for people to see that the big company like Alibaba also invest in bitcoin.
They will see that bitcoin now become worthy and that can attract them to invest in bitcoin too.
The more big company invest in bitcoin can give more supports for bitcoin, which means that bitcoin will have a chance to become global quickly.
But we still need support from the government because they are the regulator in every country.
Hopefully, that news can help Bitcoin surge to $70k, but we will see it later.

[SaShiRaJaVu]

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

We heard the same news about Facebook and later came to know that it was just rumors. Alibaba is a Chinese company and hope you have heard about the disappearance of Jack Ma from the public space and there were rumors that the Chinese government has kept him prisoner and it was not a secret that his company was facing many regulatory issues by the government and if you think that they will be investing billions in Bitcoin then you must be joking without knowing the ground reality .

[matchi2011]

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

We heard the same news about Facebook and later came to know that it was just rumors. Alibaba is a Chinese company and hope you have heard about the disappearance of Jack Ma from the public space and there were rumors that the Chinese government has kept him prisoner and it was not a secret that his company was facing many regulatory issues by the government and if you think that they will be investing billions in Bitcoin then you must be joking without knowing the ground reality .

Only Jack Ma can directly answer that, though you mentioned it right he's nowhere to find, if those rumors about
him being taking down by the government,

then there's no accurate answer whether they really / the company really bought that amount of bitcoin. Just rumors
lets wait if something will be out to inform the public.

[ecnalubma]

Definitely an incoming pump if its true if not then normal day in crypto as usual. Companies announcing their Bitcoin holding is big signal for FOMO’s but the majority will benefit from it, so far the Bitcoin’s momentum is solid I think with or without the news of how much big companies BTC holdings.

[Febo]

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

If Alibaba buys 20 billion of Bitcoin, then Jack MA will go missing again Probably forever this time. Alibaba will be allowed to buy 20 billion of digital yuan. Maybe they will announce that 13 May 2022. Does Queen of England also publish her financial reports? I do wonder what will be her first cryptocurrency.

[veznata]

https://bitcoinmagazine.com/markets/bitcoin-price-will-go-parabolic-in-2021
according to this article, the parabolic movement in the price of bitcoin for each halving is in the first 0-70000 blocks (approximately). if I'm not mistaken so far there are 54,636 blocks and there are about 14,000 blocks left or approximately 14 weeks until the peak. I can see it a little early

[semobo]

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

USA: Tesla buys $1,5bn in Bitcoin. China: Alibaba, hold my beer.

"Buy FOMO and sell FUD" so if you are seeing a lot of news that says that you have to buy the bitcoin because the price is going to be increased due to some news like a big company is going to invest or blah, blah...

So don't get into the trap, if it is true then you may start investing.

[cryptomaniac_xxx]

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

If Alibaba buys 20 billion of Bitcoin, then Jack MA will go missing again Probably forever this time. Alibaba will be allowed to buy 20 billion of digital yuan. Maybe they will announce that 13 May 2022. Does Queen of England also publish her financial reports? I do wonder what will be her first cryptocurrency.

You give me a good chuckle mate, but yeah it's a big possibility he can go to jail because of this move. The Chinese government is already on him and probably opening every financial books of his giant company.

Jack Ma, although one of Chinese billionaires criticized the government last year (his biggest mistakes) and then he went into hiatus, or as what others have speculated, the government keep him quiet that's why he didn't surface to the public. But in any case, there is a big possibility that we can see $70k this May with or without this rumor.

[LUCKMCFLY]

Well, according to Peter Brandt he predicted that Bitcoin would go down with a natural correction to 35%, and it was down more than 25%, and said that it could reach $ 100k in May, if this goes as he said there are very high probabilities that it will reach $ 70 Ko surpassed it, everything is a matter of waiting.

IF we see the behavior of Bitcoin this week it has grown in the last 3 days by more than 5%, this is considerable, and it has brought very good hope and confidence to investors.

In this analysis he talks about the price levels that can fluctuate in the short term:

Bitcoin is up by a total of 5.5% this week as it battles with $56,500 in an attempt to climb over the 50-days MA. It has struggled to surge above $58,000 so far in May as it fails to break above a short-term descending trend line.

Source: https://cryptopotato.com/crypto-price-analysis-overview-may-7th-bitcoin-ethereum-ripple-cardano-and-litecoin/

[Lorence.xD]

Definitely an incoming pump if its true if not then normal day in crypto as usual. Companies announcing their Bitcoin holding is big signal for FOMO’s but the majority will benefit from it, so far the Bitcoin’s momentum is solid I think with or without the news of how much big companies BTC holdings.

Better that we have bitcoin no matter what happens because if you don't and you are just speculating the prices then it is a pretty useless thing because you didn't benefit from the pump so to everyone who plans to sell, wait for the date to pass by and if the prices doesn't go up then you should do what you should do.