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

[zanezane]

The price of bitcoin is going to catastrophically collapse after the 13th. It's so obvious it hurts my scientific brain.

How does it collapse though, I am pretty curious about it since you said that it is pretty scientific. I don't know if Alibaba really did bought a lot of bitcoin but if this rumor proves true then that means that the prices are going to pump real high.

[Gaaara]

The price of bitcoin is going to catastrophically collapse after the 13th. It's so obvious it hurts my scientific brain.

How does it collapse though, I am pretty curious about it since you said that it is pretty scientific. I don't know if Alibaba really did bought a lot of bitcoin but if this rumor proves true then that means that the prices are going to pump real high.

It's one of those 1 liner where they say that bitcoin is going to fall without having any proof or at least a foundation to create an argument, it's just a wild guess.

Nonetheless even if Alibaba didn't really bought bitcoin or doesn't have any plan to buy at all the news had already spread and media is kind of a wild fire where a small news can get bigger in a short amount of time, which means bitcoin has already got so much attention throughout that rumors and is currently getting hyped which is generally good.

[zanezane]

~

It's one of those 1 liner where they say that bitcoin is going to fall without having any proof or at least a foundation to create an argument, it's just a wild guess.

Nonetheless even if Alibaba didn't really bought bitcoin or doesn't have any plan to buy at all the news had already spread and media is kind of a wild fire where a small news can get bigger in a short amount of time, which means bitcoin has already got so much attention throughout that rumors and is currently getting hyped which is generally good.

That's why I want to challenge the claims that bitcoin will collapse, I want to assure the person that before I disagree with him/her, he/she has some arguments to support the claims. I hope that it will be more than rumor because if it really is just a rumor then those sensational stories picked up by the media will only propel it ever so high.

[MFahad]

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.

If ali baba announce their investment in bitcoins, it will be very bullish for bitcoin. However, if there is no such news on 13 May, even then i don't think bitcoin will dump. Bitcoin will keep on moving side ways and won't dump because there is a lot of demand for bitcoin. Whales are ready that you sell and they buy at whatever prices.

[traderethereum]

Yeah bitcoin is slowly climbing up toward $60k levels, it may test a new ATH in coming days regardless of what those institutions or corporate's hand into bitcoin markets. I personally believe there cannot be any big fluctuation on May 13th just because of those China market giant. We may have calm market conditions like how we are doing last 2 weeks of times.

So far, we did not experience any bull run due to any big money like 20 billion dollars inflow hence if that news turns as a rumor then we will not have any downfall but at the same time if it will be confirmed then we may start seeing another round of bull run.

We will see it later the next week, and hopefully, the price can back to $60k in the next week.
But reaching the last ATH will not easy as that still need more time to break every high price and needs more support to lift the price.
Even if a big fluctuation happens on May 13th, that will not stop bitcoin price moves to the high price because bitcoin can still make a new ATH.
That can be another bull run that will happen this month and lift the price to break the next target high price.

We can hope that it will not happen because we already reach $50k and even the price now is back to $57k, so maybe the chance to increase now will be bigger than before.
But we need to be careful because the downtrend will always come after the price reaches the highest price, so you need to know what you need to do if the downtrend comes.

As long as the investors are confident in invest in Bitcoin irrespective of the price we will not see any major correction, today the market grew over 3% and it is trading over $58.5k and i think we will pause at the resistance this time too.

After what they saw happened to bitcoin from a long time ago until now, they are confident to invest in bitcoin and even if any major correction comes to them, some big companies will think it is their best luck to buy bitcoin at the lowest price.
I guess the price will stay or stable at that price, but it could start moves in the next week.
If that is happening like that, I think that will be a good time for the altcoins to increase.

I hope that the price can back to $60k in the next week and hopefully, that can still increase higher and reach $70k.

The price will be back to $60k but whether it will break the resistance this time is the big question. I think it will take a much longer time to break the resistance.

Breaking the resistance will only a matter of time and I am sure it will happen sooner or later, although we do not know when it will happen.

[plr]

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.

Why the word dump when its good news if we have a confirmation that Alibaba really invest $20 billion why will it cost a big dump, it's a confirmation that Bitcoin has passed the bubble stage where many big companies and well known people consider it a bubble years ago, when all the big companies are confirming Bitcoin's existence then we are moving forward.

[Silberman]

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.

That will definitely push the price up but I do not know for how much, after all even if this is true and the amount of bitcoin that was bought is many times higher than what Tesla bought we must also remember that Tesla and Elon are seen as the way to the future so it is not going to have the same media impact as what Elon did, also the scenario is different, when Tesla announced this the price of bitcoin was lower and now it will be more difficult to go up in price now that its price is so high.

[SquallLeonhart]

That will definitely push the price up but I do not know for how much, after all even if this is true and the amount of bitcoin that was bought is many times higher than what Tesla bought we must also remember that Tesla and Elon are seen as the way to the future so it is not going to have the same media impact as what Elon did, also the scenario is different, when Tesla announced this the price of bitcoin was lower and now it will be more difficult to go up in price now that its price is so high.

First of all, we must need confirmed news about Alibaba's investments into bitcoins; if we assume that will be true and confirmed then we might see same level of growth what Tesla had induced in recent times; I mean the current price levels are insignificant against FOMO. Moreover, most whales will cancel their sell orders which will again lead to jumping of prices levels into peak more easily.

People are mistaking the money required to move bitcoin market from $1000 to $2000 is much higher than moving from $10 to $20; but, it is all about volume.

If there are millions of selling orders happen when moving toward $20 then it would require obviously billion dollars. At the same time, when moving toward $2000, if there are less selling orders then just thousands of dollars are enough to reach $2000.

Same applies when bitcoin will be moving toward $100k or $1 M or $10M or $100M levels. Please remember, when there are more confident then people will change their mind and will cancel their sell orders. That's all.

[darewaller]

Why the word dump when its good news if we have a confirmation that Alibaba really invest $20 billion why will it cost a big dump, it's a confirmation that Bitcoin has passed the bubble stage where many big companies and well known people consider it a bubble years ago, when all the big companies are confirming Bitcoin's existence then we are moving forward.

I think it is about "if this news is correct, people will buy more and if it is wrong, the ones who bought anticipating this will sell" type of situation. Basically there are some people who already bought because they believe that Alibaba bought 20 billion dollars worth of bitcoin, and some people are still uncertain about it and will decide depending on the news.

So, if the news is correct the undecided will buy as well and the ones that bought earlier will profit and the price will go up, however if the news is wrong that means undecided will not buy, so the earlier ones will not profit and they will sell as well so the price will go down. This is what is suggested but I do not think that its correct, I believe it is wrong, Alibaba most probably did not buy 20 billion dollars worth of bitcoin because if they did that, the price would have increase insanely high right away.

[7788bitcoin]

I think it is about "if this news is correct, people will buy more and if it is wrong, the ones who bought anticipating this will sell" type of situation. Basically there are some people who already bought because they believe that Alibaba bought 20 billion dollars worth of bitcoin, and some people are still uncertain about it and will decide depending on the news.

The news about Alibaba investing 20 billion dollars will be debunked as rumors when the Q1 earnings report will be published in a few days. Jack Ma is always skeptical about Bitcoin and he always viewed the Bitcoin market as a bubble and hence i do not think that he will be taking a huge risk to invest $20 billion in the market, i wont be surprised if it is a few millions but to invest $20 billion even after calling the Bitcoin market as a bubble will be outrageous  .
 

[tippytoes]

I think it is about "if this news is correct, people will buy more and if it is wrong, the ones who bought anticipating this will sell" type of situation. Basically there are some people who already bought because they believe that Alibaba bought 20 billion dollars worth of bitcoin, and some people are still uncertain about it and will decide depending on the news.

The news about Alibaba investing 20 billion dollars will be debunked as rumors when the Q1 earnings report will be published in a few days. Jack Ma is always skeptical about Bitcoin and he always viewed the Bitcoin market as a bubble and hence i do not think that he will be taking a huge risk to invest $20 billion in the market, i wont be surprised if it is a few millions but to invest $20 billion even after calling the Bitcoin market as a bubble will be outrageous  .
 

This will be an interesting news to look forward to. Few days from now and we will know the truth about this rumor. But I believe, it is just a rumor. But in any case they did have bitcoin investments, even if it is not $20B, it may still create good pump in the market. Who knows, Jack Ma changed his mind over bitcoin, now that Tesla is already on this market? They can always change their stance when it is good for their business.

[2double0]

I am skeptical about what will happen if this news turns out to be a rumor as traders will sell a rumor for the first time. If Jack Ma will publicly announce that they spent a huge chunk of their portfolio on btc, then it will move btc higher at least 25% but I do not think that a Chinese will 'buy' btc instead of mining it.

[Hamphser]

I think it is about "if this news is correct, people will buy more and if it is wrong, the ones who bought anticipating this will sell" type of situation. Basically there are some people who already bought because they believe that Alibaba bought 20 billion dollars worth of bitcoin, and some people are still uncertain about it and will decide depending on the news.

The news about Alibaba investing 20 billion dollars will be debunked as rumors when the Q1 earnings report will be published in a few days. Jack Ma is always skeptical about Bitcoin and he always viewed the Bitcoin market as a bubble and hence i do not think that he will be taking a huge risk to invest $20 billion in the market, i wont be surprised if it is a few millions but to invest $20 billion even after calling the Bitcoin market as a bubble will be outrageous  .
 

This will be an interesting news to look forward to. Few days from now and we will know the truth about this rumor. But I believe, it is just a rumor. But in any case they did have bitcoin investments, even if it is not $20B, it may still create good pump in the market. Who knows, Jack Ma changed his mind over bitcoin, now that Tesla is already on this market? They can always change their stance when it is good for their business.

When it comes to rumors that do pop out then its up to us if we do take it seriously or just ignore those things but once those words to came out then probabilities that it would really happen.

Any positive sentiment that do come out in the market might be or might be not manipulative so lets be careful on making our positions because we wont know on what would happen next.

There's no assurances that we would surge to  70k and we would need some more adoption news in related to that because breaking 60k alone is already a challenge.

[Luqman]

I am a bit pessimistic that the Bitcoin price can be around $70K on May 13th. Only 3 days left and the price of Bitcoin is still struggling about $56K-$59K. The possible rate to be achieved probably around $65K, it is still achievable. I know that Bitcoin can increase very fast but I assume the current situation won't make Bitcoin jumping too significant from $58K to $70K only in 3 days.
It should take a process and need time, $70K can be achieved at the end of this month. But it seems not to achieve in the next 3 days.

[Clement Kaliyar]

I am a bit pessimistic that the Bitcoin price can be around $70K on May 13th. Only 3 days left and the price of Bitcoin is still struggling about $56K-$59K. The possible rate to be achieved probably around $65K, it is still achievable. I know that Bitcoin can increase very fast but I assume the current situation won't make Bitcoin jumping too significant from $58K to $70K only in 3 days.
It should take a process and need time, $70K can be achieved at the end of this month. But it seems not to achieve in the next 3 days.

If you are thinking logically then it will take time for the price to reach $70k from this position but you need to think that the price of Bitcoin is around $57k and it is not an hard task to increase $13k in a few trading hours as we have seen many rallies in the past and how they could impact the market easily in a short period of time. But everything depends upon Alibaba investing which i think is not a strong situation. Never bank on other and expect you will make money.

[Kemarit]

I am a bit pessimistic that the Bitcoin price can be around $70K on May 13th. Only 3 days left and the price of Bitcoin is still struggling about $56K-$59K. The possible rate to be achieved probably around $65K, it is still achievable. I know that Bitcoin can increase very fast but I assume the current situation won't make Bitcoin jumping too significant from $58K to $70K only in 3 days.
It should take a process and need time, $70K can be achieved at the end of this month. But it seems not to achieve in the next 3 days.

If you are thinking logically then it will take time for the price to reach $70k from this position but you need to think that the price of Bitcoin is around $57k and it is not an hard task to increase $13k in a few trading hours as we have seen many rallies in the past and how they could impact the market easily in a short period of time. But everything depends upon Alibaba investing which i think is not a strong situation. Never bank on other and expect you will make money.

It's obvious, $70,000 won't be achieved this May 13th. Bitcoin market is on the accumulation phase after the massive dump to $47,000. And then we have the altcoin market also being pump so hard right now. So some of the money is there. But we all know that those investors are smart, once they profit from newbies in altcoin, it's time to get back to Bitcoin again. $70,000 might be June-July bull run and not this month.

[btc78]

I am a bit pessimistic that the Bitcoin price can be around $70K on May 13th. Only 3 days left and the price of Bitcoin is still struggling about $56K-$59K. The possible rate to be achieved probably around $65K, it is still achievable. I know that Bitcoin can increase very fast but I assume the current situation won't make Bitcoin jumping too significant from $58K to $70K only in 3 days.
It should take a process and need time, $70K can be achieved at the end of this month. But it seems not to achieve in the next 3 days.

If you are thinking logically then it will take time for the price to reach $70k from this position but you need to think that the price of Bitcoin is around $57k and it is not an hard task to increase $13k in a few trading hours as we have seen many rallies in the past and how they could impact the market easily in a short period of time. But everything depends upon Alibaba investing which i think is not a strong situation. Never bank on other and expect you will make money.

It's obvious, $70,000 won't be achieved this May 13th. Bitcoin market is on the accumulation phase after the massive dump to $47,000. And then we have the altcoin market also being pump so hard right now. So some of the money is there. But we all know that those investors are smart, once they profit from newbies in altcoin, it's time to get back to Bitcoin again. $70,000 might be June-July bull run and not this month.

Yups and even Harder to Climb back to 60,000$ that means we really expecting hardship for Bitcoin to reach that target.
But of course never lose hope specially to those who keeps the Holding up to now waiting to the best time to exit like me 

Actually my target price is 75,000 before getting all my funds from Bitcoin and rest for while then wait for another 30-50% dumping before re entering.

[STT]

Heres the line Im looking at before we get higher prices extrapolated, we are past 50 day average and it appears BTC is strong but market might need more proof rather then just drifting upwards to such a point as 70k or similar.



I drew in trend not from great certainity but some marker of the pace with which we must continue upwards and challenge the upper line or possibly we do reverse despite the general positive sentiment recently.  I also noticed the Dollar index is looking weak, we failed to pass 92 area properly and start a bullish trend there and some speculate Dollar breaks down; this would match trend continuation for BTC also.

[iram3130]

Frankly speaking, I think the Alibaba news is fake, similar to what FB buying FOMO news was out in the last week.

If you see the Tesla news, when they announced their holdings they also announced that they will accept BTC as a payment method but there is nothing from Alibaba at this moment. Also, Jack Ma is not in a position right now to take on a government that is not so supportive of crypto.

[Wawa2013]

Frankly speaking, I think the Alibaba news is fake, similar to what FB buying FOMO news was out in the last week.

If you see the Tesla news, when they announced their holdings they also announced that they will accept BTC as a payment method but there is nothing from Alibaba at this moment. Also, Jack Ma is not in a position right now to take on a government that is not so supportive of crypto.

Even though I am really looking forward to Alibaba investing in Bitcoin, but what you say makes a lot of sense, seeing that the Chinese
government does not support crypto. It is possible that the Alibaba rumor investing in Bitcoin is a fake, but thanks to these rumors I see
Bitcoin price being pushed up. Hopefully in the near future there are other big companies that will invest in Bitcoin, so Bitcoin can go back up
to above the price of $ 60k.