When will BTC hit $1000 again?

[ampere9765]

The price jumped up about 10% today, it could be back over $1000 by the end of the week.

That's a far stretch right now. It would take a lot of money to get there, and it would hit major resistance by people that are trying to break even on their buys at the 800+ mark. The only way this would happen is if a major investor was buying up all the coins without caring what the price is.

Or, it could be a bunch of people realizing that we have passed the bottom, and they want to get back in before the price leaves them behind. Large holders could see the price rising and move their asks upward or remove them completely. The bitcoin market is still so small just a little push can start it moving in big jumps.

Sure. That's what happens every rally. But is this a short squeeze? Or a *real* rally? -- I'm talking moonshot. My money is on a short squeeze. Another leg up, but I'm thinking this will fizzle out.

[ranlo]

The price jumped up about 10% today, it could be back over $1000 by the end of the week.

That's a far stretch right now. It would take a lot of money to get there, and it would hit major resistance by people that are trying to break even on their buys at the 800+ mark. The only way this would happen is if a major investor was buying up all the coins without caring what the price is.

Or, it could be a bunch of people realizing that we have passed the bottom, and they want to get back in before the price leaves them behind. Large holders could see the price rising and move their asks upward or remove them completely. The bitcoin market is still so small just a little push can start it moving in big jumps.

Sure. That's what happens every rally. But is this a short squeeze? Or a *real* rally? -- I'm talking moonshot. My money is on a short squeeze. Another leg up, but I'm thinking this will fizzle out.

I'm with you on this. There's no news that would provide a reason to believe otherwise. If there were something major that just happened, I'd see it being different. But as it is, there's just no real reason.

[jonald_fyookball]

short squeeze?  i doubt it... who is shorting bitcoin?

[ampere9765]

short squeeze?  i doubt it... who is shorting bitcoin?

I've shorted a ton over the past several months and my portfolio thanks me for it. Granted, shorting now could be quite dangerous, but a strong rally from here is by no means guaranteed. May not even be probable. But also, regarding short squeezes, I don't necessarily mean only literal shorts, but those who sold with the intention of buying back in the short term. Basically I am drawing a distinction between those who are simply avoiding an underwater position and those who are patiently waiting on the sidelines / new money.