Topic: $27000 or $35000? Which will Bitcoin head to at the end of Jan.? - page 2. (Read 600 times)
January 26, 2021, 11:00:50 AM
Tell you what, though, I've had 2 new requests this week from 2 separate exchanges asking for more information. Very low level stuff (ambiguous source of fund to trade crypto, which doesn't explain my activity on their platforms really) and very quick to enable. The heat's definitely coming on to exchanges so all that institutional demand's got to be routed, as exstasie says, through legitimate channels. Liquidity drying up baby.
January 26, 2021, 10:58:11 AM
for me I think that with any celebration it will not affect the price because they will not spend more money so in conclusion their money must remain in bitcoin.
So the current correlation still looks good with a little correction. We can see how bitcoin is in the first quarter so it will still be 30-35k, but in conclusion we will see that in the following months there will usually be a movement with increased demand.
Everyone thinks these special days matter a lot but the reality is that they do not change too much. Look at the price now, it is already above 31k and we can say that we are closer to 35k than 27k so the answer is getting there. I can't say the answer is already given, because we could drop from here to 27k before we can reach 35k, that type of big falls did happened in the crypto world before and it could happen again.So the current correlation still looks good with a little correction. We can see how bitcoin is in the first quarter so it will still be 30-35k, but in conclusion we will see that in the following months there will usually be a movement with increased demand.
However I feel like it is quite obvious that we are not going to let it be like that easily. Of course it is going to be easier to move 2k+ higher than to drop 6k+ lower, so we could easily say that likely answer will be that we will be at around 35k by the time January ends. However we could also have an option to say "which one will it be closer?" and in that regard whatever price is closer that would be better and 35k will probably be closer for sure unless something unexpected happens.
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January 26, 2021, 07:43:03 AM
If bitcoin is going to touch the deepest price at $27k, this is probably the best chance to buy back bitcoin and for those who don’t already own bitcoin.
Perhaps the price of $27k is the deepest price in bitcoin’s bullish decline this time around. But I’m also not sure yet whether bitcoin will go down that
low. After a few weeks of sideways bitcoin, it may prepare to fly to $35k or more by the end of January.
Perhaps the price of $27k is the deepest price in bitcoin’s bullish decline this time around. But I’m also not sure yet whether bitcoin will go down that
low. After a few weeks of sideways bitcoin, it may prepare to fly to $35k or more by the end of January.
No, I do not think so because the investor can wait for more, and if the price really touches the deepest price at $27k, that will be the best time to buy bitcoin. If they buy bitcoin now, they can get in a trap to buy at a high price, and that can make them mad. The investor needs to calm down for a while, especially at this moment, because bitcoin now is back to the low price, and it seems, bitcoin price will stay at the current price.
January 26, 2021, 05:50:50 AM
When OTC demand is strong, all the OTC supply gets eaten up. Then demand spills onto exchanges because there is nowhere else to accumulate.
Coinbase published a case study for their Prime broker service, with Microstrategy as the subject. As they point out:
https://primebroker.coinbase.com/content/dam/prime/downloads/pdfs/Coinbase-Institutional-MicroStrategy-Case-Study-Dec-2020.pdf
I assume Grayscale's buys have the same effect. At certain times throughout the week you can see fairly obvious TWAP algorithmic buying activity on Coinbase. When I see it I usually think, "Grayscale's buying again!"
You are sort of right, but sort of wrong as well. It does pour into regular exchanges obviously but it is a slow type of deal and not something sudden, which does change the market maybe a bit but not a lot, because these kinds of amounts done slowly doesn't really change too much.Coinbase published a case study for their Prime broker service, with Microstrategy as the subject. As they point out:
Quote
Individual exchanges do not have sufficient liquidity to service large, institutional-sized orders. Coinbase’s smart order router solves this problem by aggregating liquidity from multiple venues (exchanges and market makers) and routing orders algorithmically to find the best all-in prices possible.
https://primebroker.coinbase.com/content/dam/prime/downloads/pdfs/Coinbase-Institutional-MicroStrategy-Case-Study-Dec-2020.pdf
I assume Grayscale's buys have the same effect. At certain times throughout the week you can see fairly obvious TWAP algorithmic buying activity on Coinbase. When I see it I usually think, "Grayscale's buying again!"
Think about it this way, grayscale collected over 500k bitcoins, but did that like 7k per week or something, and that is why I think it matters, because 7k per week on OTC is nothing, and even if it spills over to regular exchanges that would be what? 2k spilled over? You can collect 2k from 5 different exchanges with 400 bitcoins and that would not be even felt.
That's a whole lot of assumptions right there.
There was a single day last week where Grayscale added 16-17K BTC to their trust in a single day. There is also no guarantee of OTC market liquidity at any given time. It's very possible most of that could have been routed through exchanges and had a very real effect on price.
Also, this sort of exchange order routing is surely limited to highly AML/KYC compliant, licensed, exchanges. Inflows would not be spread to exchanges like Huobi, Binance, Bitfinex, etc. even though they are some of the biggest exchanges in the world by volume and liquidity.
Grayscale is also just one buyer. What I'm saying applies to almost all institutional buyers.
January 25, 2021, 06:50:14 PM
Is the dip this time filling the gaps or bearish reversion?
Everything is possible, the end of January will be bearish or bullish, everything good. For people who keep it for the long term, this is doesn't matter. Because even bearish, the price of course will bullish. Just prepare your money to buy more if the price dumped 
January 25, 2021, 06:27:22 PM
These value would potentially touch each other, and if it won't decline in bigger percentage that possibly going down slightly at $30k or less by end of January which is within the range of the mentioned values. However, as market gone so unpredictable we'll able to see the actual trend based on chart and it's our own perspective to decide which pattern will be followed.
Learning process doesn't stop at once, so it's better to study frequently to gain good results if you're trading all alone.
Learning process doesn't stop at once, so it's better to study frequently to gain good results if you're trading all alone.
January 25, 2021, 06:09:27 PM
If bitcoin is going to touch the deepest price at $27k, this is probably the best chance to buy back bitcoin and for those who don’t already own bitcoin.
Perhaps the price of $27k is the deepest price in bitcoin’s bullish decline this time around. But I’m also not sure yet whether bitcoin will go down that
low. After a few weeks of sideways bitcoin, it may prepare to fly to $35k or more by the end of January.
Perhaps the price of $27k is the deepest price in bitcoin’s bullish decline this time around. But I’m also not sure yet whether bitcoin will go down that
low. After a few weeks of sideways bitcoin, it may prepare to fly to $35k or more by the end of January.
January 25, 2021, 04:27:59 PM
is likely to decrease to 20 000 $. Please be careful investing in late January. If there is a gap you can also buy more
It's way too far, it may not drop less than that amount this time, probably up to $30k is the range where it can bounce back or if ever the price dip more than that amount it will be may not last long till it creates it hype again, I believe many institutional companies will be able to join in crypto or BTC market this year as many big ones already in. January 25, 2021, 01:52:28 PM
Well we got the initial drop to $30k, then it was building support at $33k-$35k but then the double spend fake news hit and broke supports and dropped the price to $28k. Now that the double spend fake new FUD is over I don't think there is any way the price breaks down below that initial $30k drop which would have been the bottom without the double spend lie.
Past few days its been pushing up little by little - $32k, $33k, $34k - currently working on establishing $33k and $34k. Obviously $30k, $31k, $32k are still on the table just with daily volatility but the only reason for the sub-$30k drop last week was the double spend fake news so another drop down there is extremely unlikely as market has recovered from that bout of nonsense.
I'd expect $35k at end of month in a few days, probably bouncing around $1k or $2k above and below that around the end of the month, but skewed to the above side as Bitcoin pulls itself out of this correction. I think probably two weeks until $40k (early to mid February) and $50k by end of February.
Not even the bitcoin double spend lie and associated panic sell could drop the price to $27k, so $27k is likely lost to history at this point.
Past few days its been pushing up little by little - $32k, $33k, $34k - currently working on establishing $33k and $34k. Obviously $30k, $31k, $32k are still on the table just with daily volatility but the only reason for the sub-$30k drop last week was the double spend fake news so another drop down there is extremely unlikely as market has recovered from that bout of nonsense.
I'd expect $35k at end of month in a few days, probably bouncing around $1k or $2k above and below that around the end of the month, but skewed to the above side as Bitcoin pulls itself out of this correction. I think probably two weeks until $40k (early to mid February) and $50k by end of February.
Not even the bitcoin double spend lie and associated panic sell could drop the price to $27k, so $27k is likely lost to history at this point.
January 25, 2021, 01:26:42 PM
is likely to decrease to 20 000 $. Please be careful investing in late January. If there is a gap you can also buy more
I don't see it dropping to that price anymore. If $25,000 is highly unlikely then that price is the same as what you're saying. Careful to the scams and other investments that offer guaranteed payments. But if it's about investing in bitcoin, they only have to determine at which time they want to invest to get a good price before it increases. You get a good price when you buy and then wish to sell it whenever it pumps or gets into a long term once you've determined that it will increase in the long run. January 25, 2021, 01:20:41 PM
is likely to decrease to 20 000 $. Please be careful investing in late January. If there is a gap you can also buy more
January 25, 2021, 12:43:50 PM
Till yesterday I though it would be great if Bitcoins today's anywhere between $30k and $35k but after sudden surge in the price today I think anything is possible and it might really once again towards $40k if it finds some resistance above around $33k. This is just my thought based on Bitcoin chart j have observed for a while. The nect fee weeks will be boon for traders as we may expect some decent fluctuations.
January 25, 2021, 11:08:03 AM
BTC market movements are simply tremendous the price goes down then again gets back the momentum and pumping again I am planning to make a short-term investment by buy @30k and sell at 34k - 36k.
I am continuously watching the price movements and BTC is playing around the same and I know this is not the market strategy and very risky but I would like to take this as an opportunity and make use of it rather than waiting.
I am continuously watching the price movements and BTC is playing around the same and I know this is not the market strategy and very risky but I would like to take this as an opportunity and make use of it rather than waiting.
If you manage to adjust your buy zone before this bounce up happened, it's nice to see that the market again is pumping up. Those who able to buy @ $31k-$32K are now enjoying the short ride.
A quick buy and sell order which provides a decent profits. Especially for those big fat whales who keeps playing around, they are capable
of buying volumes of coins and store it for a while. Now possible that they will keep holding and just sell out once satisfied with the value or once the target has already been hitted.
January 25, 2021, 10:55:51 AM
The problem is Wallstreet buying Bitcoin OFF EXCHANGES so their giant purchases dont influence Price.
That's not true. When OTC demand is strong, all the OTC supply gets eaten up. Then demand spills onto exchanges because there is nowhere else to accumulate.
Coinbase published a case study for their Prime broker service, with Microstrategy as the subject. As they point out:
Quote
Individual exchanges do not have sufficient liquidity to service large, institutional-sized orders. Coinbase’s smart order router solves this problem by aggregating liquidity from multiple venues (exchanges and market makers) and routing orders algorithmically to find the best all-in prices possible.
https://primebroker.coinbase.com/content/dam/prime/downloads/pdfs/Coinbase-Institutional-MicroStrategy-Case-Study-Dec-2020.pdf
I assume Grayscale's buys have the same effect. At certain times throughout the week you can see fairly obvious TWAP algorithmic buying activity on Coinbase. When I see it I usually think, "Grayscale's buying again!"
Think about it this way, grayscale collected over 500k bitcoins, but did that like 7k per week or something, and that is why I think it matters, because 7k per week on OTC is nothing, and even if it spills over to regular exchanges that would be what? 2k spilled over? You can collect 2k from 5 different exchanges with 400 bitcoins and that would not be even felt.
So long story short in a market where 20 billion dollar volume happens everyday, having hundreds of millions of dollars per week is nothing. Does it affect us? Sure it does, it removes money from the market and makes bitcoin scarce which is the real great part about it, but they do not change it in a day, it is a long term benefit.
January 25, 2021, 08:58:20 AM
BTC market movements are simply tremendous the price goes down then again gets back the momentum and pumping again I am planning to make a short-term investment by buy @30k and sell at 34k - 36k.
I am continuously watching the price movements and BTC is playing around the same and I know this is not the market strategy and very risky but I would like to take this as an opportunity and make use of it rather than waiting.
I am continuously watching the price movements and BTC is playing around the same and I know this is not the market strategy and very risky but I would like to take this as an opportunity and make use of it rather than waiting.
January 25, 2021, 08:46:47 AM
Or Chinese people will buy bitcoin because its quite cheap at the moment, but I'm trying to drive at is that these holidays or festivities has nothing to do with the growth of the price of the decline, I don't think there is any correlation at all.
Maybe the price will be in the middle, at the end of January, around $30k-$31k.
Maybe the price will be in the middle, at the end of January, around $30k-$31k.
Yes,,, an old theory I first came across in 2017 that Chinese New Year makes Chinese people go crazy and buy Bitcoin. It never makes sense because we all know in Asia people SPEND money not save during festivities.
So if anything should happen,,, people should be selling Bitcoin. But nobody sells stocks or gold for holidays:)
January 25, 2021, 07:30:10 AM
Is the dip this time filling the gaps or bearish reversion?
With only 6 days to go, I don't think Bitcoin will crash to $25000, there's a possibility that it will hit $35000 if whales decide to pump the market to hit the $35000 level, I'm also hoping that we stay in the $30000 level before the end of the year, February is something we look forward to another achievement and milestone.
The same thought as you, I want it to remain $30k and becomes the support price of bitcoin until it breaks newer aths.
January 25, 2021, 07:15:00 AM
Is the dip this time filling the gaps or bearish reversion?
With only 6 days to go, I don't think Bitcoin will crash to $25000, there's a possibility that it will hit $35000 if whales decide to pump the market to hit the $35000 level, I'm also hoping that we stay in the $30000 level before the end of the year, February is something we look forward to another achievement and milestone.
January 25, 2021, 04:00:53 AM
As the Chinese New Year is approaching. Chinese people like to withdraw funds during the Spring Festival. I think the price of Bitcoin will still be around US$32,000 at the end of January. Maybe the market will become active again after the Spring Festival. 
Or Chinese people will buy bitcoin because its quite cheap at the moment, but I'm trying to drive at is that these holidays or festivities has nothing to do with the growth of the price of the decline, I don't think there is any correlation at all.Maybe the price will be in the middle, at the end of January, around $30k-$31k.
So the current correlation still looks good with a little correction. We can see how bitcoin is in the first quarter so it will still be 30-35k, but in conclusion we will see that in the following months there will usually be a movement with increased demand.
January 25, 2021, 03:40:26 AM
Is the dip this time filling the gaps or bearish reversion?
I have a strong feeling that the big correction will happen in the first quarter of 2021 but I don't think the market will fall before the end of January because we've just recovered from the pullback and there's no sign of negative news. Anyway, we have to back-up our speculation with the right analysis or else we will come up into a wrong decision, so analyze the price movement before making any move. Jump to: