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

[janggernaut]

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.

[pooya87]

meh.

I think the time for hyping and panic selling is over. The price is stuck in $50k range so with or without this news there is only 2 possibilities left that we can see in this month.
1. Price stays here and keeps going up and down between $50k and $60k.
2. Price breaks the resistance and shoots to $70k as the panic sellers of last month become the panic buyers of this month.
There is always someone doing something in bitcoin world. The trend is this and they can only speed it up in one direction or the other but not change it.

[Oshosondy]

Fomo people can buy bitcoin if they fear the news of big companies buying bitcoin, but I can not guarantee there will be price surge for now, anything can happen, but if such news like Alibaba bought bitcoin worth of $20 billion surface, it will make some people to just fomo and buy more bitcoin, but the news might not be. With what I am checking out, the price of bitcoin is not yet time to get to $70000, though if investors like other institutions are setting in and buying bitcoin, surely the price may rise to over $70000 but the price just yet always below $70000 for now.

[LFC_Bitcoin]

If Alibaba announce a big bitcoin purchase then the price could pump. It definitely won’t dump if they don’t announce a big bitcoin acquisition though. Bitcoin is a mature market now, we don’t dump on bad news as often or as deeply any more.

[ultrloa]

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.

We don't know what is the real situation will come in future and also we all know how hyping works so that the other who want to earn with it get a lot of money for just spreading something like this, so if I where you better you should follow the market trend since for now we can't feel the effect of that news maybe if there's something good support to back up that claims maybe we can speculate but not at that higher price maybe lets just see that the price of bitcoin cross to 60,000 dollars again so that we can conclude that figure might possibly hit at the given date.

[btc_angela]

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.

[davis196]

Wasn't crypto buying/selling banned in China?I'm not familiar with the regulatory frame,when it comes to trading cryptocurrencies inside China.However,this is most likely fake news.
If Alibaba had really bought that much of BTC,we would have already known this information by now.
The Bitcoin market has turned into a joke.Waiting for the next big corporation to buy BTC,just for the sake of pumping the price with another 10-15K USD.This simply isn't serious.

 

[buwaytress]

Can't find the topic now but about 2 weeks ago, I think someone was saying exactly the type of effect Alibaba might have should it truly decide to put even 1% of its capital into Bitcoin. Jack Ma's got almost the same sort of reverence and fandom that Tesla's man does. Perhaps not as global, but even if half of the country responds positively to Alibaba going into Bitcoin, it'd have some kind of magnitude.

Ma's rumoured to be under intense scrutiny from the CCP though...

[bitterguy28]

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.

Well 20 billion dollar is a Big amount and may lead to price shaking if being withdraw or sold so Yeah this maybe something that will change the movement of Bitcoin and the whole crypto market as it was always a domino effect.

[Wexnident]

A pump most likely. I mean, that's $20b, not really a small amount so I'd reckon you'd see quite some changes in the market and a positive one. How big though? Probably not so much. I'd reckon it'd only be the company that would make it surge, and that's it. I'm pretty sure people wouldn't panic buy over something like that, unlike when companies started doing so.

As for a dump, it'd be unlikely. There's absolutely no negative thing whether Alibaba bought Bitcoin or not, so I don't really see a reason as to why it would even happen.

[cryptoperkele]

20 Billion is just too much for a rumor. Future of Bitcoin is very much unclear, and this happening in China of all places makes even more unbeliveable. Isn't it that time of the year when China bans it again? Also companies need to think of shareholders and this would be too reckles bet considering them. We have no way of knowing if there will be huge carbon taxation on this thing in the future. It would be very surprising if nothing like that would happen.

[ReiMomo]

This $20 billion is too huge an investment and I guess it will affect the market price. We witnessed on the tesla announcement that the price was suddenly going up and I think it will do the same on Alibaba announcement.

But as of now, I don't see any sign of movement of the crypto market price that going up the $50k range price still there and I don't see there was a resistance. I guess, it would be today or tomorrow, who knows if the market will suddenly to the moon in just a matter of an hour.

[Fundamentals Of]

No, the price of Bitcoin will not pump or dump after we learned that Alibaba was buying or not. Why should Bitcoin's price react that much to Alibaba? How would you imagine Bitcoin, which has a total market cap of more than 1 trillion in US dollar, easily affected with just a single company's decision? It will definitely help promote Bitcoin but it does not mean the price will automatically pump or dump only because of it.

[blckhawk]

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.

Well if that is true then Bitcoin will definitely pump and if it is not then there will be no changes no dump or whatsoever, it will still increase but slowly. $20billion is no joke, that would shake the market, it will bring hype resulting in FOMO and we know how Bitcoin pumps after the TESLAs announcement. Personally, $20billion was too much to be true and if Alibaba has certainly bought that amount Bitcoin's price has already surging up but what I am seeing is a slow back and forth movement. Anyway, let's wait on the 13th of May.

[Lucius]

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

I think someone has discovered a way to profit from companies publishing their reports for Q1, without actually having any truth about them having anything to do with investing in Bitcoin at all. Just a few days ago, this rumor surfaced "Facebook will announce they hold #Bitcoin", which of course turned out to be one big nonsense in the end.

I have to admit that this is the first time I've heard that Alibaba has anything to do with Bitcoin, so it seems to me that this could end up as an FB rumor - because $20 billion is an amount that does not seem at all realistic in this context.

If this rumor turned out to be true, then Tesla and $1.5 billion would be a small baby compared to this investment - so the title is a bit strange, because $70k is too low - and there is no point in talking about a dump, such investment would certainly have a very positive effect on the crypto market.

[jostorres]

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?

But, I'm not seeing any spike when some $20 billion entered into bitcoin market. Most probably it may remain as rumor. Still there are a lot of possibilities for them to have bought for such a big money in multiple days. But, $20 billion must be a very big money and people who are regularly monitoring bitcoin market along with volume might have noticed that. Let's wait for any official confirmation before or on 13th May.

Tesla told $1.5B was invested by the month of January itself and that times bitcoin was trading around $20k levels so there were possibilities as prices were continuously increasing in January/February/March.

[Wilhelm]

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?

But, I'm not seeing any spike when some $20 billion entered into bitcoin market. Most probably it may remain as rumor. Still there are a lot of possibilities for them to have bought for such a big money in multiple days. But, $20 billion must be a very big money and people who are regularly monitoring bitcoin market along with volume might have noticed that. Let's wait for any official confirmation before or on 13th May.

Tesla told $1.5B was invested by the month of January itself and that times bitcoin was trading around $20k levels so there were possibilities as prices were continuously increasing in January/February/March.

Exactly. You can't just covertly buy $20bn without affecting the market price (aka make it go up)

[philipma1957]

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?

But, I'm not seeing any spike when some $20 billion entered into bitcoin market. Most probably it may remain as rumor. Still there are a lot of possibilities for them to have bought for such a big money in multiple days. But, $20 billion must be a very big money and people who are regularly monitoring bitcoin market along with volume might have noticed that. Let's wait for any official confirmation before or on 13th May.

Tesla told $1.5B was invested by the month of January itself and that times bitcoin was trading around $20k levels so there were possibilities as prices were continuously increasing in January/February/March.

Exactly. You can't just covertly buy $20bn without affecting the market price (aka make it go up)

Lets see

1 coin        = 58k
10 coins    = 580k
100 coins  = 5.8m
1000 coins = 58m
10000 coins = 580m
100000 coins = 5.8b
350000 coins = 20.3b

So 350,000 coins must be shifted.

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html


the top 100 wallets above hold a lot of unknown coins.

https://bitinfocharts.com/bitcoin/address/1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ  104k+

https://bitinfocharts.com/bitcoin/address/37XuVSEpWW4trkfmvWzegTHQt7BdktSKUs       94k+

https://bitinfocharts.com/bitcoin/address/1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF          79k+

https://bitinfocharts.com/bitcoin/address/3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb             73k+

https://bitinfocharts.com/bitcoin/address/bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6 69k+


the 5 above are the largest address with no known ownership they have enough coins to provide 20 billion dollars worth.

So private sales are possible.  And the coins could change.

I see 63 unmarked addresses holding well over 1 million coins.

[Wind_FURY]

If Alibaba announce a big bitcoin purchase then the price could pump. It definitely won’t dump if they don’t announce a big bitcoin acquisition though. Bitcoin is a mature market now, we don’t dump on bad news as often or as deeply any more.

I believe we might also see Bitcoin in an “extended bull market” during this current cycle, simply because or BRRR money printing to stimulate the economy during the pandemic, and more institutional investors buying and HODLing Bitcoin as a hedge BECAUSE of BRRR money printing.

[BrewMaster]

if Alibaba had such a massive investment in bitcoin ($20 billion is huge) they would have also accepted it as payment in their platforms which they don't. look at Tesla, they believed in bitcoin and they invested in it and they accept it as payment.

this news sounds fake to me, not just because what others said about size of it, you can still accumulate that much without affecting the market over medium time but because they don't accept bitcoin.