Topic: BTC is up $4500 in 30 munites? - page 3. (Read 594 times)

Elon Musk is known to troll the cryptocurrency market for a very long time and this tweet is in the same category and he is not doing this to invest and make money, he is not after money from what i understand from his speeches and he sold all of his properties including his millions of dollars worth of mansions even though he is a billionaire he is staying in rented property.  
The price rallied in a short span after his tweets, but how long this will last can be seen in a couple of days.

Whats going on? This had been a typical movement that you can see on this market.It can swing up its price 3000-5000 or more in a short duration.

If you had been on this market of years already then you wont really be got surprised into these movements without even knowing on  whats the reason behind of such pump.
You can just say  that there's really a demand behind such movement.

but if you do make out some research then you would find out these kind of sentiments.
https://cointelegraph.com/news/world-s-richest-man-elon-musk-boosts-bitcoin-price-by-20-is-40k-back-in-play

I think it's a natural phenomenon which occurs everytime and users relate it to some other events like this recent pump would be credited for Elon Musk's tweet. But there has been so much of institutional investment pouring for bitcoin in last few weeks and it was under correction period hence we are witnessing pump now. Those who invested due to Elon Musk's tweet will not stay into bitcoin for longer run but institutions will do. We might see either Bitcoin crossing $50k or falling back on resistance support.

A lot of celebrity endorsements suddenly. I’m waiting for the MrBeast video where he does some sort of Bitcoin giveaway video. I imagine the delay is in thinking of a creative and entertaining way to do so that his audience can understand and enjoy.

Looks like a combo of things. The main thing it seems is that when Robinhood was shutting down trading on the stuff the redditor wallstreetbetters were pumping these people moved en masse to Coinbase, as I've seen being reported today, and pumped Bitcoin.

Combine that with Musk's #bitcoin - as we have seen millennials seem to have a bizarre allegiance to Musk and pump something anytime he tweets or makes reference to any investment. (I love his companies and his vision but this allegiance to pump any investment he just mentions is nuts haha)

There were also a ton of options expiring today, which was going to cause a short squeeze today as people were trying to short in the low 30s and high 20s. I would bet that some of the folks who had shorted Bitcoin and were about to lose money today anyways saw the pump from redditors/musk-followers and bought back in last night to hedge the money they were about to lose today on the short squeeze.

Then of course on the pump a bunch of traders piled in to get in on the pump as well.




What will be interesting to see now is whether institutional buying picks back up. Looking at Grayscale, after enormous record setting buying in the middle of the month after Grayscale opened back up its Bitcoin fund, buying then died off once the double-spend fake news dropped bitcoin through support levels and institutions seem to have taken a wait and see approach since then with Grayscale inflow now at a tiny trickle, as several prominent Wall Streeters have claimed the bull run top is in and Bitcoin will be at $20k soon or lower soon.

Now that this reddit/Musk driven pump broke through a ton of resistance it'll be interesting to see if these pumpers dump or not, and if institutions start coming back in after the slow past week or so now that the price is back up and the possibility to see further sub-$30k prices seems to have possibly entirely evaporated. If the pumpers don't dump and Bitcoin can hold at least $35k through the weekend I think we'll see institutions start coming back in next week. At which point like a self-fulling prophecy Bitcoin will start heading towards new ATHs because institutions and retail market believes it is heading toward ATHs.

The flip side of course is that all these redditors dump Bitcoin and it heads back to low-$30's and institutional buying stays low and it takes a few more weeks to build back up out of this correction and back to new ATHs maybe a month from now.

Hopefully this redditor/musk pump broke the back of the correction and it doesn't dump and we see $40k and ATHs against in the next couple weeks!

Break of a downtrend in play over many days, through the weekly.   It figures its a big bar, Im not sure if it really relates to any news as many stories can be associated or with good volume appearing.     The recent lows were the monthly average and it did not fall below that and similar 50 day so its once again in a loop reworking prices in this area.

One of the primary suspects was Elon Musk and suspending Binance from withdrawal by their users.
Based on this article said, "Elon Musk mentions bitcoin on his Twitter, after which the coin goes up by 20%".  So, we can conclude that this dude (the richest man on earth) has a very influential person for most investors, and probably he is a part of those big whales who holding a huge amount of Bitcoin, who knows.

Not only Bitcoin, as we can see, also Dogecoin was pumped recently right after Bitcoin was been spiked.  I suggest holding your asset as long as you can because I have doubt that the price will make another ATH again and break the $40K price.

Not enough I guess to conclude that the market is now again in a bullish run. If this would last for a week then there is a chance but if the price will again fall in a sudden, we cannot do anything about it other than  to be patient with things in this market. But I highly doubt this one, such high rate of increase to conclude? that won't be valid. But if you really do think so, then you are free to make actions regarding your analysis toward this market or technology in general. But if you will base on its nature, there is a chance for the price to again fall making this increase, a temporary one. So for now, it would be better to wait than to conclude as this early.

Try to get to $40k first and see how we are going after that. If we can sustain another run then yes, probably incoming $50k. If the whole Elon Musk shilling scenario died down after 36 hours, closing the candle then we might see the pattern again of dumping after reaching a new all time high above $40k.

In any case, we can make another run this February, we have a lot of room, four weeks and see how the price will go to $50k or higher.

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 .

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.

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.

I got the chart of it here



This is really volatile indeed. I'm sure many traders took profit and some lost too.  

In calculation from the chart is

$38,051 - $31,963 = $6,088

Wow... $6,088 is huge within the short time.

The price today tops at around 37800$ but quickly fallen by 2000$ as well. Some crazy time going in the market as again it has started to move upwards and reaching close to 37k. Time for speculators to make some quick money today with this kind of volatility which is perfect for them.

So we are in the FOMO again because of Elon Musk? Or someone mysterious from behind are working their magic again in pumping the price to $40k-$50k? But it's about time that we go back to the super fast rally that we have seen up to the first week of January. And for those who are shorting bitcoin, I think they are caught with their pants down again resulting in getting REKT by the sudden upward trend that could carry to the next month's massive pump.

Its truly amazing what a simple Bitcoin logo in a twitter profile can do.  Just think if more high profiled people did this same thing what would happen with price. 
It doesnt hurt that he also has 44m twitter followers waiting to see what he will speak of next.   
Elon musk has the capabilities to shake up the economy with a small action like this.

I'm a noob chart watcher and that shocked me. I'm sorry :Z

Yes, it could be the reason behind it.
Looks like a lot of big investors are following him so badly that every direction he went will be their path too. 
I am waiting for Doge too. It could be soon.

Damn, and I sold some just before that pump for my monthly groceries. 
I hope I could make it at the right time in my next withdrawal.

Why every time there is a increase or decrease There must be a Post coming ? Don't you Know what volatility means? and this is a normal process in this market for years now.

How many times do the market needs to Pump and Dump before we finally realize that this is a common ?

I personally don't think it has something to do with Elon Musk tweet.

Remember that billions of bitcoin future contracts has expire or will expire this 29th, and I would say that base on it's previous history, after the expiration, the price usually spike so for me this is just the case. History just repeating itself. In any case though, it's good to see btc reaching $35k-$36k again.