BTC went up %14 and ETH %23 almost overnight! What pre-indicators were there?

kram31

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Quote from: Johnyz on May 24, 2021, 05:26:02 PM

There’s a new tweet mate says that Elon made a contact on US based mining companies and talks about renewable energy on mining Bitcoin and many whales share their experience on buying cheaper bitcoin, I see this as the main reason of the current pump. The FUD is gone and now we are hearing a good news, we might see the price of Bitcoin on a good up trend in the coming days, congrats to those who always bought at the dip.

If that is true, this might be a great news again to all holders of Bitcoin and ETH, especially to those community who bought in the dip were
surely when the price spike again in the market, more profit will come again for the long term holders of course. Because, we all know that Elon was one of the top influencers in the social media so far.

rodskee

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Quote from: 9thsky on May 24, 2021, 05:12:15 PM

Usually there is news which influences the rise and fall of crypto prices. Lately Ellon Musk's comments seem to be a major influence, like the recent decline was after Tesla announced they would no longer accept bitcoin as a payment method. But what about this recent rise (although marginal in comparison), what indicators were there? What were the signs?

I find nothing but those who have sold their holding for profit are now entering again and that's called correction and this is common scenario whenever there is a Huge Pump.

but what is good this year is that the price continues to hold in much higher position not like in the past

Quote from: LongStand on May 25, 2021, 02:30:53 AM

Btc is now normal because elon mask and sime other want to provide a nergy source for btc. It can go up in upcoming days

Mind elaborating more? Elon continues to spread negativity in Bitcoin and pushing Dogecoin instead.

ethereumhunter

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Elon really gives a change to the market with what he tweets. Maybe the crypto market moves this time is because he tweets again on Twitter. But I think that is only one reason besides the other reason that makes the price increase higher. But to know the real reason that makes the crypto market increase now is not easy as it could be many buying orders from the traders because they want to have more bitcoin at a low price.

Wexnident

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I'd actually think it went up exactly because it went down. Opportunists would always take advantage of chances where Bitcoin dumps to enter the market to temporarily boost them up, then sell it again, then rinse and repeat till the next season of bullish or steady movement. I'd like to think it isn't an influence of Elon, but hey who knows, that may be a part of it, but I'd rather think its the former than the latter that is the reason. I'd really hate to see the market get influenced by one man that much.

LongStand

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Btc is now normal because elon mask and sime other want to provide a nergy source for btc. It can go up in upcoming days

wahyu wida

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Quote from: so98nn on May 24, 2021, 10:31:39 PM

The mega dump followed by stability and up surge of the market, is very common these days in the market. Obviously we are not alone in the market. It’s a public platform and there are thousands of opportunistic people out there who were waiting for the dip to happen.

It is as simple as that, they bought the coins and gave market some more millions and billions to stabilise the current panic sell

there are those who panic, some are waiting until the price enters the buy area to buy back. with the support area there will be a bounce back, and many day traders take advantage of it to look for profits. but we have to be alert if the price goes down again and breaks the current support

OcTradism

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Quote from: adaseb on May 24, 2021, 09:04:51 PM

The news was mostly at first Elon saying he didn't sell BTC a few days back, it stopped that crazy dump. And in the last 24 hours it was mostly Elon saying that he and Saylor got in contact with most of the North American miners to talk about mining btc with clean energy. This is pretty positive and I am pretty sure most of the miner farms will want to mine with clean energy to get good publicity.

Elon Musk loses his power with tweets and the market can be more healthy for a while. In future, new influencers, billionaires will join and get similar power as Elon Musk has in past recent months.

The recover of Bitcoin and market are from 50% sell off from Bitcoin and bloodbath on the market. Elon Musk does not contribute to the rally.

In rest of 2021, I think that market will move with support from other news, new big institutional investments, new big adoption from big corporations, and more. When the market and investors feel boring with Elon Musk and people will no longer idolize him, Bitcoin market will move with the real bull cycle.

Quote

Its not good that BTC mining is bad for the environment so I am pretty sure its in the best interest of the miners to be able to mine at higher prices than lower. Basically their pay was pretty much cut in half in USD terms when it was trading at $60K compared to $30K a few days ago. So they want to make everyone happy. SO we will see what will come out of this.

There are worst things than Bitcoin mining so please stop the fud on Bitcoin mining, energy, environment. Bitcoin mining does not bad actually because the main energy it uses is from renewable resources.

so98nn

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The mega dump followed by stability and up surge of the market, is very common these days in the market. Obviously we are not alone in the market. It’s a public platform and there are thousands of opportunistic people out there who were waiting for the dip to happen.

It is as simple as that, they bought the coins and gave market some more millions and billions to stabilise the current panic sell

adaseb

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The news was mostly at first Elon saying he didn't sell BTC a few days back, it stopped that crazy dump. And in the last 24 hours it was mostly Elon saying that he and Saylor got in contact with most of the North American miners to talk about mining btc with clean energy. This is pretty positive and I am pretty sure most of the miner farms will want to mine with clean energy to get good publicity.

Its not good that BTC mining is bad for the environment so I am pretty sure its in the best interest of the miners to be able to mine at higher prices than lower. Basically their pay was pretty much cut in half in USD terms when it was trading at $60K compared to $30K a few days ago. So they want to make everyone happy. SO we will see what will come out of this.

SquirrelJulietGarden

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Quote from: 9thsky on May 24, 2021, 05:12:15 PM

Usually there is news which influences the rise and fall of crypto prices. Lately Ellon Musk's comments seem to be a major influence, like the recent decline was after Tesla announced they would no longer accept bitcoin as a payment method. But what about this recent rise (although marginal in comparison), what indicators were there? What were the signs?

The market rally does not depend upon Elon Musk tweets. After big red days, the market will have big green days. Big green candles will follow after big red candles.

Elon tweets or any news that are tips of iceberg for the rally. The real cause is big red candles come from over panic so when it disappears, big green candles will exist on the market.

Warren Buffet said "Be greedy when others are fearful and be fearful when others are greedy"

tippytoes

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Quote from: Johnyz on May 24, 2021, 05:26:02 PM

There’s a new tweet mate says that Elon made a contact on US based mining companies and talks about renewable energy on mining Bitcoin and many whales share their experience on buying cheaper bitcoin, I see this as the main reason of the current pump. The FUD is gone and now we are hearing a good news, we might see the price of Bitcoin on a good up trend in the coming days, congrats to those who always bought at the dip.

I believe that is really one of the major factors why the price is going up. Positive news regarding bitcoin mining, and that involved Elon Musk again. He realized that he made a negative impact when he announced about the suspension of btc payment in Tesla. I hope to see more good news in the coming days, and that means, the price may go up again and surpass the 40k level easy. For those who bought at 31k, even selling today will give you nice profit.

2double0

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The exhaustion of sellers and their selling volumes, the pressure was gradually reduced to a point where buyers started accumulation and they brought the price higher while sellers were seen making buyers chase the price they wanted to buy btc for. All that was not quick but went in a straight line since it touched its low yesterday. I think markets will still go down one more time before the next phase of bull run begins.

9thsky

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Quote from: Johnyz on May 24, 2021, 05:26:02 PM

congrats to those who always bought at the dip.

You never know when the end of the dip is though. A dip is relative. First it was 54k, which was a significant dip. Then it further declined to 48k, so buying at 54k, by comparison, would have been not such a great idea any more. Then it went to 42k, rendering buying at 48k a mistake. Then it declined further still to 38k...then to 32.

Looking back, buying at 32k would have been striking gold, but that's because 32k was the bottom of the dip, "thus far" (hence the actual dip). But if tomorrow it declines to 28k, then 32k would be considered the opposite of what it is now.

livingfree

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Quote from: 9thsky on May 24, 2021, 06:00:10 PM

Where do you get these news?

On news media and just check his twitter.

Quote from: samcrypto on May 24, 2021, 06:00:15 PM

Quote from: livingfree on May 24, 2021, 05:49:37 PM

Quote from: Johnyz on May 24, 2021, 05:26:02 PM

congrats to those who always bought at the dip.

And do better for those who have sold during the dip because they're attacked by panic.

There's always a lesson to be learned for them, emotions should always set aside.

Yup. Emotion in trading and investments should be set aside. Follow your long term goal and if you're thinking the market will crush you but you want to stay.

Don't look at it or buy always the dip.

samcrypto

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As usual, the hype of Elon is really influential in cryptomarket and now he tweets about renewable mining for Bitcoin, many gain back their hope in the market which most of them sold out of panic, hoping to see them getting back in the market and I hope this tweet can really bring the up in the market for long term and not a bull trap anymore.

Quote from: livingfree on May 24, 2021, 05:49:37 PM

Quote from: Johnyz on May 24, 2021, 05:26:02 PM

congrats to those who always bought at the dip.

And do better for those who have sold during the dip because they're attacked by panic.

There's always a lesson to be learned for them, emotions should always set aside.

9thsky

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Quote from: livingfree on May 24, 2021, 05:49:37 PM

It's Elon again. I've get to see his tweet again about bitcoin that deals about renewable energy. He's really influencing the market whenever he says anything about the market.

Quote from: Johnyz on May 24, 2021, 05:26:02 PM

congrats to those who always bought at the dip.

And do better for those who have sold during the dip because they're attacked by panic.

Where do you get these news?

livingfree

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It's Elon again. I've get to see his tweet again about bitcoin that deals about renewable energy. He's really influencing the market whenever he says anything about the market.

Quote from: Johnyz on May 24, 2021, 05:26:02 PM

congrats to those who always bought at the dip.

And do better for those who have sold during the dip because they're attacked by panic.

Johnyz

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There’s a new tweet mate says that Elon made a contact on US based mining companies and talks about renewable energy on mining Bitcoin and many whales share their experience on buying cheaper bitcoin, I see this as the main reason of the current pump. The FUD is gone and now we are hearing a good news, we might see the price of Bitcoin on a good up trend in the coming days, congrats to those who always bought at the dip.

9thsky

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Usually there is news which influences the rise and fall of crypto prices. Lately Ellon Musk's comments seem to be a major influence, like the recent decline was after Tesla announced they would no longer accept bitcoin as a payment method. But what about this recent rise (although marginal in comparison), what indicators were there? What were the signs?

Topic: BTC went up %14 and ETH %23 almost overnight! What pre-indicators were there? (Read 156 times)