BTC is up $4500 in 30 munites? - page 2.

tbterryboy

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Quote from: gabbie2010 on January 30, 2021, 02:48:45 AM

The monthly candlestick is showing a rejection pattern more like a pin bar, an indication of price reversal next month however Bitcoin in most cases defies any form of technical analysis because fundamentals drives the price of Bitcoin meanwhile I don't subscribed to the notion that Elon Musk's tweet was responsible for the sudden pump in price of btc, if his tweet was responsible for sudden massive investment then why the rapid dump again? the price should have continue to pump and rally up with more investors joining the train

Well, the price didn't "dumped" that much because we were around 31k price range before that pump and we ended up with about 34k or so, sure we reached to 36k-37k levels and that is great but at the end of the day we have come back to having still a higher price. Elon Musk did had an impact on the price for sure but not the whole thing, I just think he lit the first fire and fuse was lit but the thing that explode was the real traders and investors and that is the biggest reason.

Sometimes we need a bit of money helping us time to time and when there are a group of new people who invest enough to buy thousands of bitcoins and change the deal very much, that would result with them helping us get over that small hump we are stuck at and end up with a higher price all our own if we want to after that as well. People need to realize we could use some of that help.

Saisher

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Quote from: Janation on January 30, 2021, 06:21:30 AM

I don't know if Elon Musk really started this increase.

The price is not at $33K but it reached up to $36K which I thought would straight fall under the $20K price mark. Maybe this is just an increase since we all know how the market move right now but one of the reasons right now is the tweet or hashtag of Elon Musk talked in this thread: https://bitcointalksearch.org/topic/elon-musk-adds-bitcoin-to-his-twitter-bio-5313053

It's not a coincident he really has a part of the pump because it happens hours after his tweet and Elon is not an ordinary investor, he happens to be the richest man now, and what he says will have a big impact on the business industry, I hope we'll have another round of tweet for another round of pump.

blckhawk

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Quote from: Oasisman on January 30, 2021, 03:08:49 AM

Quote from: aysg76 on January 30, 2021, 12:54:16 AM

Quote from: Russlenat on January 29, 2021, 05:01:27 PM

Elon Musk brought bitcoin to the moon for awhile... don't worry we are back, bitcoin is trading now at $34k.

No, we cant directly give credit to Musk. Exchanges were high in liquidity due to dodge pump. As soon as Elon changed its bio, whales shifted the liquidity to BTC resulting in approx 40% dump in Dodge and 15% pump in BTC.

That could be one, but since there's no certain reason for the pump and the Elon Musk bio change has been perfectly timed minutes before the pump, so that's the reason why a lot of people are pointing the Elon Musk tweet as the closest main reason for the pump, including some of the articles.
However, we all know that pumps and crashes doesn't only focused on one reason, but there could always have the major one.

Indeed this might not be the main reason for the pump but I pretty sure that this was a trigger. Imagine Bitcoin is just sitting for about $31k or something but when the news started to outspread, Bitcoin suddenly goes up while Dodge starts to dump as well this could only mean big investors and whales do really liquidate on BTC. But maybe this could be the only reason because there's no big news besides on it that could make Bitcoin move in a single amount of time.

aysg76

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Quote from: iv4n on January 30, 2021, 05:09:57 AM

Quote from: Oasisman on January 30, 2021, 03:08:49 AM

Quote from: aysg76 on January 30, 2021, 12:54:16 AM

Quote from: Russlenat on January 29, 2021, 05:01:27 PM

~

Big people make big waves! +40M followers is a lot, and I am sure when he added Bitcoin in his bio, and tweet about how it was inevitably affected some people to buy more, and some to buy for the first time!

Buying for first time after twitter bio update and leading it to raise in price is logically not possible. Making a new account, verifying KYC takes atleast an hour or so.
Musk do influence alot of people , so yes people already into crypto might have bought more after his actions.

Janation

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I don't know if Elon Musk really started this increase.

The price is not at $33K but it reached up to $36K which I thought would straight fall under the $20K price mark. Maybe this is just an increase since we all know how the market move right now but one of the reasons right now is the tweet or hashtag of Elon Musk talked in this thread: https://bitcointalksearch.org/topic/elon-musk-adds-bitcoin-to-his-twitter-bio-5313053

exstasie

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I was watching it thinking, "yep, this looks real sustainable." Nice pump, but trying to force a breakout with market buys like that usually ends in tears. Not surprised at the full retrace. There was lots of latent supply that wanted to sell at those prices; the orders just weren't on the book when the market buys occurred.

Lots of sell volume in that daily candle. And the move from the lows didn't look impulsive. I think this might troll around a while longer, and we might still get a real capitulation into the $20,000s eventually.

iv4n

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Quote from: Oasisman on January 30, 2021, 03:08:49 AM

Quote from: aysg76 on January 30, 2021, 12:54:16 AM

Quote from: Russlenat on January 29, 2021, 05:01:27 PM

Elon Musk brought bitcoin to the moon for awhile... don't worry we are back, bitcoin is trading now at $34k.

No, we cant directly give credit to Musk. Exchanges were high in liquidity due to dodge pump. As soon as Elon changed its bio, whales shifted the liquidity to BTC resulting in approx 40% dump in Dodge and 15% pump in BTC.

That could be one, but since there's no certain reason for the pump and the Elon Musk bio change has been perfectly timed minutes before the pump, so that's the reason why a lot of people are pointing the Elon Musk tweet as the closest main reason for the pump, including some of the articles.
However, we all know that pumps and crashes doesn't only focused on one reason, but there could always have the major one.

Big people make big waves! +40M followers is a lot, and I am sure when he added Bitcoin in his bio, and tweet about how it was inevitably affected some people to buy more, and some to buy for the first time! Of course as you say Oasisman, there are probably many other factors, but this can be a trigger! After all the time frame is really crazy, the moment when he did that and just after 18 minutes the price started moving up like crazy!
Well it's down again! Crazy times for crypto and all of us involved, I wonder what we will see next...

Oasisman

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Quote from: aysg76 on January 30, 2021, 12:54:16 AM

Quote from: Russlenat on January 29, 2021, 05:01:27 PM

Elon Musk brought bitcoin to the moon for awhile... don't worry we are back, bitcoin is trading now at $34k.

No, we cant directly give credit to Musk. Exchanges were high in liquidity due to dodge pump. As soon as Elon changed its bio, whales shifted the liquidity to BTC resulting in approx 40% dump in Dodge and 15% pump in BTC.

That could be one, but since there's no certain reason for the pump and the Elon Musk bio change has been perfectly timed minutes before the pump, so that's the reason why a lot of people are pointing the Elon Musk tweet as the closest main reason for the pump, including some of the articles.
However, we all know that pumps and crashes doesn't only focused on one reason, but there could always have the major one.

gabbie2010

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Quote from: Ridwan Fauzi on January 29, 2021, 09:59:50 AM

Quote from: maydna on January 29, 2021, 09:20:35 AM

Besides making a profit from dogecoin, we can also profit from bitcoin, which increases again after its stays at a lower price. We thought that Elon Musk adds bitcoin to his profile, so people interest and buy bitcoin as soon as possible. But I am sure there are many reasons behind that, making bitcoin price suddenly get a pump. If the situation can still like that and have more buying orders, the price can increase more than the price now, and bitcoin will have a chance to back to $40k in the next month.

Yes you will if you sell doge coin when its price touched $0.08. The altcoin price movement is so volatile than bitcoin price movement, just needs a few hours the price just comes back to the price where it starts to increase. Especially when you are a future market trader, you have to trade on a low time frame because when you use a high time frame I don't think your psychology will think using a rational brain.

Elon Musk's tweet alone will not be enough to keep bitcoin prices at their current levels. There must be a driver so that every investor believes that the bullish market is still holding out and is able to push prices higher. And maybe I am still curious and doubt that the price will continue to rise, the monthly candle will form one more day, if this month's candlestick forming bullish engulfing then there may be many opportunities for the price to go even higher.

The monthly candlestick is showing a rejection pattern more like a pin bar, an indication of price reversal next month however Bitcoin in most cases defies any form of technical analysis because fundamentals drives the price of Bitcoin meanwhile I don't subscribed to the notion that Elon Musk's tweet was responsible for the sudden pump in price of btc, if his tweet was responsible for sudden massive investment then why the rapid dump again? the price should have continue to pump and rally up with more investors joining the train

adaseb

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It was either the options expiry which happened right before or the Elon Musk bio change. The bio change is more relavent because it was minutes apart when the pump happened. This is basically equilvant to the Xi pump back in 2019 however I don't like how the entire pump pretty much retraced. This points to signs of a weak bull market.

This is similar to what happened in Oct 2019 with the Xi pump, it was the largest candle in BTC history however price eventually engulfed the entire move and went lower. And we were trading sideways more months and that $10K resistance was tested twice before it finally broke.

So hopefully we start to go back up from $33.4K area or we will most likely go back down to $30K and this time it will break and we will be in the mid $20k's. I am getting a little bearish at this price action.

aysg76

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Quote from: Russlenat on January 29, 2021, 05:01:27 PM

Elon Musk brought bitcoin to the moon for awhile... don't worry we are back, bitcoin is trading now at $34k.

No, we cant directly give credit to Musk. Exchanges were high in liquidity due to dodge pump. As soon as Elon changed its bio, whales shifted the liquidity to BTC resulting in approx 40% dump in Dodge and 15% pump in BTC.

maydna

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Quote from: Ridwan Fauzi on January 29, 2021, 09:59:50 AM

Quote from: maydna on January 29, 2021, 09:20:35 AM

~snip~

Yes you will if you sell doge coin when its price touched $0.08. The altcoin price movement is so volatile than bitcoin price movement, just needs a few hours the price just comes back to the price where it starts to increase. Especially when you are a future market trader, you have to trade on a low time frame because when you use a high time frame I don't think your psychology will think using a rational brain.

Elon Musk's tweet alone will not be enough to keep bitcoin prices at their current levels. There must be a driver so that every investor believes that the bullish market is still holding out and is able to push prices higher. And maybe I am still curious and doubt that the price will continue to rise, the monthly candle will form one more day, if this month's candlestick forming bullish engulfing then there may be many opportunities for the price to go even higher.

I am afraid that will affect our psychology because trading can make us tired and feel bored. We should think about how long we can trade, and we don't have to force ourselves to do future market because we lack information to that trade. We better make regular trade on the market because I think with doing that, we can still make a profit daily or weekly.

Even if Elon Musk's tweet cannot keep bitcoin prices stay at the current price now, people can still buy bitcoin before the price increase so high. If they are late to buy bitcoin, they will regret it, and if they want to buy bitcoin at the current price, they should accept that the price can go lower or upper price, so that can make them worry if the price is down. But I am sure the price will increase higher in the future, giving us a big profit again.

globalpain

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The OGz Club

whats going on? Did you not read the information on social media, Twitter and even telegram ?,
Bitcoin price went up due to 2 factors, the first one to form a bull flag and managed to stay at $ 29900 support,
and the second tweet by Elon which made the Bitcoin price go up, of course this is special how Elon gives color to the cryptocurrencies,
Doge and Bitcoin that he is always promoting, yes i likes him.

Oceat

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Quote from: Hippocrypto on January 29, 2021, 04:52:43 PM

Quote from: thecodebear on January 29, 2021, 04:08:55 AM

Yeah I was just watching the pump! Over $5000 gain in about half an hour.

I don't know if those redditers pumping stuff moved from gamestop and dogecoin to bitcoin tonight or what. But that is a crazy pump happening.

Obviously the pumps is showing positive trend that in future days there would be a huge demand coming. The market was unpredictable right now, and as previous decline provides more opportunities which actually attracts more incoming investors and divert with bitcoin. Emotions is now taking back, so don't lose your grip on it and move forward; strive harder for success.

It was just a simple tweet of Elon Musk that brought Bitcoin suddenly to the moon, what's more if he actually buys Bitcoin?

That's just for a short trip and I guess lots of them are getting profit already with that price and we are back again to normal.
If there's nothing next to that move then, we might actually gonna see the previous price movement again or even below $30k before we reach to the next new ATH.

It was a good sign that there are still more good news coming in the next few days or so.

pixie85

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Look completely artificial. It takes so much to deposit money on exchanges that it just couldn't be a spontaneous reaction of new buyers or institutions coming in. It had to be speculators who sold with fake news about the double spend.

It's funny but the whole thing deflated just hours after the pump. A short squeeze followed by new deposits from people who did not get to sell before the crash from 35 thousand last week?

Russlenat

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Elon Musk brought bitcoin to the moon for awhile... don't worry we are back, bitcoin is trading now at $34k.

We have some lucky people who sold that time for a quick profit, just wait for the next tweet.

Hippocrypto

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Quote from: thecodebear on January 29, 2021, 04:08:55 AM

Yeah I was just watching the pump! Over $5000 gain in about half an hour.

I don't know if those redditers pumping stuff moved from gamestop and dogecoin to bitcoin tonight or what. But that is a crazy pump happening.

Obviously the pumps is showing positive trend that in future days there would be a huge demand coming. The market was unpredictable right now, and as previous decline provides more opportunities which actually attracts more incoming investors and divert with bitcoin. Emotions is now taking back, so don't lose your grip on it and move forward; strive harder for success.

thecodebear

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lol to the people saying nothing caused this its just normal market volatility.
Probably the same people saying the double spend crash a week ago wasn't caused by the (fake reporting) double spend panic haha. ;p

Institutions are sitting on the sidelines right now, and have been ever since that double spend crash a week ago. They are now in a wait and see approach, waiting until the market makes a clear sign its going up again in a stable way. Last night was redditor/musk-enthusiast driven pump which is now dumping. Anyone who's been in crypto awhile knows last week and last night's big movements weren't normal market volatility events but rather last week was driven by the fake news of the double spend and last night was driven by the shenanigans of the redditors pumping stocks moving to coinbase after Robinhood shutdown buys on the stocks they had been pumping and perhaps as well musk-obsessives buying after he hashtagged bitcoin on twitter.

Sometimes market forces aren't mysterious. Sometimes we get clear and obvious reasons like they have been in these two instances.

Golftech

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Quote from: ice18 on January 29, 2021, 10:16:42 AM

Pumped by billionaire Elon Musk? For sure it is looked at the bio of his twitter account that bitcoin logo is a sign that he is buying bitcoin and the effect of that bio in his twitter is really surprising an almost 15% increase in an hour that may possibly bring the btc price into new target and it is the $50k incoming .

Big chnce that this may happened as this billionaire investors are now showing his support for this system. With so many
followers and supporters the reactions shows from how fast the market increases in value, it's not stopping from there
expect more from institutional investors that might follow Musk from this journey.

Torque

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Quote from: MyCryptoDomains on January 29, 2021, 04:00:38 AM

What's gong on?

Topic: BTC is up $4500 in 30 munites? - page 2. (Read 594 times)