Topic: BTC above $53k - page 3. (Read 591 times)

Institutional buying is the right word you are looking for and yes is the answer to your question that there might be a major correction before halving since trader is just riding the wave due to the strong buy signal of Bitcoin Halving. Everyone that buying now knew that the price is already near the previous ATH which means that is their common goal as price ceiling for the current run.

Also major correction is important to have a continuation of bull run or else the price will just be in bubble if there’s no correction happened after this solid bull run. The question here is for how long does correction will last while there’s already Bitcoin ETF which traditional investors can invest too on Bitcoin.

It seems that we will not see a major correction in Bitcoin prices at the end of this month or at the beginning of next month because Bitcoin has already reached the level of more than $57K today. So the possibility of seeing a new ATH before the halving may be more likely in Bitcoin because today's price increase has become a sign that the price decline before the halving was just a coincidence and will not be like that forever. Moreover, with the effect of the number of Bitcoin buyers continuing to increase, of course this will cause an increase in the price of Bitcoin itself at the end of this month.

Well we did see that 53k price for coin and we went right past it. Now we are seeing price of 1 Bitcoin for almost 56k and it was higher then that yesterday.
And now Bitcoin futures are at $22 Billion. And that is the highest since November 2021. And now current price is 2 year high.
https://www.kitco.com/news/article/2024-02-26/bitcoin-price-hits-2-year-high-53690-bulls-take-aim-55k-resistance

Well, you know what OP, Bitcoin almost reached the $57,000 price a few hours ago.
It seems that there are many sellers near that level, and currently sitting at around $56,200.

I was a bit surprised that I saw Bitcoin surged up, and it just shows that the bulls are still in control. On the other hand, I didn't feel any excited on my part because Bitcoin has been moving sideways for a week or more already, and it's time for either the bulls or bears to take control, and it seems like the bulls won... for now.

What's my next move? Nothing. I will just watch the markets for now, and possibly wait until the end of the year comes then I'll sell. Of course, it will depend on Bitcoin's price if it reaches my selling targets. Nevertheless, I hope that everyone is making profits right now.

Well, take it that it's different this time. So instead of seeing a dump before the halving comes, we've been seeing some greater gains and look on when you've made this thread you're just talking about $53k but in less than a day we've pumped +$3k and it's now $56k and about to cross $57k anytime, anyday from now on.

I am removing that possibility that there might be some major corrections before and after the halving. Whether there could have been a change already for this cycle, still, you don't remove that thought because this is a market that's highly volatile. But I guess that the Bitcoin ETF Spot has changed a lot of things before the halvings and have broken a lot of expectations and speculations towards Bitcoin.

I don't think that bitcoin will go below 50k, because the odds are very small. The reason why I said this is because, after bitcoin touched 52k..it corrected to 49k+, and the price didn't stay there for long before it went immediately back to 50k+. Now that we have seen the price at 57k+, but as I am typing this post, the price of bitcoin is 56k+, if a correction would be made, it should be from 50k, and above but not below 50k.

This is good news for investors, because it is not up to 24hrs that we have seen 9% pump in bitcoin price, and we are still having a month and some days to the halving, which means that we might see the price of bitcoin above 60k before the halving, if a correction in place did not take place, but I don't think that we can see a price above the last ATH price before the halving. However, any thing is possible, because the approval of bitcoin ETF, is playing a big role on bitcoin price, which makes this circle a special one.

You have posted to early because just after your post bitcoin crossed 56k now and your title seems to be odd because if bitcoin will be having correction then that will be more low that 53k at least below 50k but for me there might not be happening because this time we may experience different scenario than what  we had in the past.

This is a good confirmation of the bull trend, and we have to celebrate this with taking profit. 
The price might already over bought but I think, we can still go higher up to $60k let's be more cautious and trade responsibly. We're very close to the peak, let's see if Bitcoin can sustain this momentum or will correct, altcoins will surely catch up so make sure to hold altcoins as well because they will follow Bitcoin later on.

Yeah when I saw on twitter the $57K price I assumed it was a type because we were at $54K a few minutes prior. I go and check and of course after the close we pump to almost $57.5K.

No idea why we pump at NY close. Something tells me that the etf flows are leaked and if it’s a strong number they want to get in before the NY open because they assume that the market will be bidding for bitcoins at the open, pretty much what happened today.

Perhaps the year 2024 will be the year of Bitcoin. Bitcoin today continues to rise and exceeds 56K in a marathon rise within a few days due to buying pressure, especially after MicroStrategy bought new quantities, even despite this rise.

As for the correction, it is very possible, and I believe that the correction will be healthier for a stronger and more stable rise. The correction is not to be feared at all, but the rise with a large candle without any corrections is what should be feared, because a large rise must inevitably be followed by a large decline.

change the title we got over 57k and are holding at 56.5 k

Who really knows what'll happen with Bitcoin in the next couple months? The historical data shows prices often drop before a halving.  But this time just feels different with big institutional money finally jumping in and,  I gotta say, Bitcoin's gains lately have been nuts.  Part of me worries a nasty correction could sneak up and wipe out recent profits.  This market stays wildin'.  For real, prices here turn on a dime.   

So yeah, Im feeling decent about Bitcoin's future but keeping some dry powder ready just in case.  Can't get too greedy and complacent.

well 8 months early is interesting . I am fine with the early  It think we did the first ATH for 2020 around dec 17 2020. so 8 months early is April 17 2024 we go past 70k.

works for me.

Well, there's a risk of correction that might happen in the market because, as we've said, a bull run can happen anytime soon and can happen this year, but we have no definite date for when it will happen. But the thing is, doesn't this look like a bull run already? If this bitcoin price keeps on rising and setting ATH at the time, then we can consider this as its bull run; maybe it can surpass its own ATH, but also there is a risk that there might be a correction that might happen in the market, so it's up to the investors and holders if they will keep on buying bitcoin even when its price is at its peak, believing that the price will just keep increasing, but also a risk of a sudden dip because of the correction. Either way, I know bitcoin will still get back from its high price and just preparing for the bull run.

Winklevoss Twins owned close to a million bitcoin at one time, and it's funded a lot of Gemini (and other shitcoin projects), didn't come close to centralizing BTC yet though

Bitcoin now mid-$54k. Gone up over $3k the past few hours. Currently just under 79% of ATH. Back in 2020 79% of ATH was about $15.8k and price didn't hit that until November of that year. Bitcoin halvings are about a month short of 4 years, so hitting this level at the same time this cycle would be in October, but it's February, putting Bitcoin's price about 8 months ahead of last cycle.


I don't think we're about to enter into the new-ATHs bull run like we were at that point at the end of 2020, I think we're probably still a few months away from $69k. But thanks to hype around the ETFs before they got approved, and the the billions of dollars coming into the ETFs starting to cause a supply shock as well as the hype in the spot market around that too just building on top of it, plus more and more people understanding the 4 year market cycle allowing more people/money to front-run the halving effect than ever before, we are seeing the Bitcoin market getting a very early start on this part of the market cycle.

It's definitely going to be an interesting year. The $3k boost today didn't even follow any news today, just the resistance finally breaking after holding Bitcoin flat for the past dozen days or so. It did happen right around when Saylor announced another 3k of bitcoin buying his company had done recently but those announcements never move the market anyway so that wasn't the cause. Just too much bullish momentum to tame bitcoin right now for more than a couple weeks.

This was after it was announced that Microstrategy bought an additional 3000btc and Trump green flag on bitcoin comment. While I may accept that Microstrategy is indeed doing there own part and buying all the bitcoin they could, it's makings it centralized because they had about 190,000btc now in their custody but it's better than what politicians are doing, believe Trump or any US candidate when they say good stuff about Bitcoin at your own peril, they turn deaf and dump when the get into that office.

Bitcoin don't dump when halving is approaching, it's like 2-3 weeks before it dump and right now we are 2 month and some weeks away from the new Bitcoin halving. I expect to see us touch the previous all time high before any correction but don't be surprised if whales keep the bitcoin in that level and used halving to break the resistance, anything is possible. You should be anticipating for new price though, not dumping all the time.

I am just shock to see that bitcoin already crossed above $53k it was like a surprise to me because I was actually speculating that it will definitely took bitcoin about weeks to cross within the hands of $52k after seeing the selling pressure aren't allowing the buying pressure to push across it's previous price level currently.


This is very hard to guess because not everyone is a hodler, some people are trader which doesn't requires them to bag enough volume while some still apply the DCA methods. I wouldn't want to see that some people are being left behinds without at least holding bitcoin worth $500 depending on the capacity of them or to amount they feels they can free up to investment.

The major thing that I have considered with this is that it's for the accumulation stage. It's that part that we can count on and in the long term, we can be victorious. We all know that it will definitely increase in volume with the fact that old money are coming in into the market. It's going to really show itself when the halving its near. I do hope everyone is up along the ride.

I have read often times that price of BTC usually dump before the halving and pick up after halving but it's looking as if there is going to be an exception to this rule this year now that Bitcoin ETF has already been approved and lots of instructional buying going on.

With BTC constantly going up and as we approach March I'm just few days? Do you think we are going to see any major corrections before the halving?