Gaps like that will give us the desired bull run support!
Imagine the impact if only one big investor like Grayscale Bitcoin Trust joins every month... the Bitcoin easily will hit $100 000!
Topic: Bitcoin Mined VS Bought during Dec 2020 (Read 193 times)
Give it two months and price will go back down. Institutions find they brought too much at peak and will liquidate.
Grayscale Bitcoin Trust bought over 2.5 times total #BTC mined during Dec 2020.
Seeing this image is very alarming for me since this shows that there are already a lot of investors within the Cryptocurrency Industry that did not know that there are other ways to earn free Cryptocurrencies. Its good that there are new investors but they should still go through the basics of how to earn Bitcoin without using any of your own money.
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The scenario of 2018 may also repeat itself, when prices began to gradually fall.
But now, investors will switch to Ethereum because it is undervalued.
When the 2018 scenario reoccurs. Then the panic will start high, the price will drop very drastically. But for now Bitcoin has only undergone a few corrections and is starting to rise again.The scenario of 2018 may also repeat itself, when prices began to gradually fall.
But now, investors will switch to Ethereum because it is undervalued.
Ethereum's current price is over $ 1000 and is just about to hit a new ATH. January 13 2018 is the date when ETH hit a high of $ 1432 USD. We'll just wait a few days, whether ETH is able to break it and set a new record.
And having that said, with the bought bitcoins of Grayscale, they've already more than the break-even that they can. But it's unlikely that they're about to sell at this moment.
They've been accumulating for one reason and that is to lessen the circulating supply in the market. Grayscale is also a holder and if them being a big institution is considering to hold, everyone must buy and hold too.
They've been accumulating for one reason and that is to lessen the circulating supply in the market. Grayscale is also a holder and if them being a big institution is considering to hold, everyone must buy and hold too.
https://bitcointreasuries.org/
No one can guarantee that all these companies will continue to buy bitcoins and other coins. If they decide to sell their assets, then prices may fall 3-4 times.
The scenario of 2018 may also repeat itself, when prices began to gradually fall.
But now, investors will switch to Ethereum because it is undervalued.
And having that said, with the bought bitcoins of Grayscale, they've already more than the break-even that they can. But it's unlikely that they're about to sell at this moment.
They've been accumulating for one reason and that is to lessen the circulating supply in the market. Grayscale is also a holder and if them being a big institution is considering to hold, everyone must buy and hold too.
They've been accumulating for one reason and that is to lessen the circulating supply in the market. Grayscale is also a holder and if them being a big institution is considering to hold, everyone must buy and hold too.
Bitcoin can finally be seen entering the economic scene, and this time, they're quite noticeable, compared to back in 2017/18 where there were still doubts about Bitcoin. I'm still conflicted whether the current trend is a bubble or not, but I'm leaning more on the side where it isn't a bubble, due to institutions publicly saying about them buying Bitcoin which really, puts more foundation towards the fact that the current trend isn't a bubble, but hey, I'm not putting my full trust on that for now.
Does anyone know what happened to their investment? Did they buy more? Is it possible?
can we have live updated data from them or do we need to wait for the end of the week?
How will they sell?
With this panic that occurs in the market, they can affect the price and sell, especially since they have made good gains from the end of December.
From what I know institutions that bought BTC bought it as a safe asset, so you can be sure that they're holding it right now. They didn't buy Bitcoin to do daily trading or something, nor is it specifically for long term hodling, just that the fact that BTC is a safe asset in their eyes is more than enough of a reason afaik. can we have live updated data from them or do we need to wait for the end of the week?
How will they sell?
With this panic that occurs in the market, they can affect the price and sell, especially since they have made good gains from the end of December.
Yes, that's the main driving force behind what's happening. I also saw yesterday that there are clearly more buying orders than selling ones up to $50k. That doesn't mean that we are going to get there in a straight line but I don't think there will be corrections of 30% of higher until the price gets around that mark. Also, as nothing is 100% sure, it could happen that people start changing their orders but in normal conditions we will get to $50k without much trouble.
Does anyone know what happened to their investment? Did they buy more? Is it possible?
can we have live updated data from them or do we need to wait for the end of the week?
How will they sell?
With this panic that occurs in the market, they can affect the price and sell, especially since they have made good gains from the end of December.
can we have live updated data from them or do we need to wait for the end of the week?
How will they sell?
With this panic that occurs in the market, they can affect the price and sell, especially since they have made good gains from the end of December.
At least this time nobody can claim that the price is manipulated by bots, that we have a new MtGox, that there's a bubble with no substance and so on.
...and I guess that's not only Grayscale buying there
The future looks bright! Actually the present doesn't look too bad either
...and I guess that's not only Grayscale buying there
The future looks bright! Actually the present doesn't look too bad either
Great! That's a clear gap between supply and demand and as per the market rule, the price is skyrocketing! If the demand stays robust, the price will go up even further! In a way, this bull run is quite different than 2017 because the purchase of bitcoin are not driven by fomo, rather institutional investors are pouring in millions of dollars into the market!
Really hoping to see a sustainable growth or stabilization at least! The history should not repeat here!
Really hoping to see a sustainable growth or stabilization at least! The history should not repeat here!
Grayscale Bitcoin Trust bought over 2.5 times total #BTC mined during Dec 2020.
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