How many dollars of BTC purchases would it take to go to $10,000?

Danslip

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Quote from: mindrust on February 06, 2019, 07:22:45 AM

Quote from: Ucy on February 06, 2019, 07:18:21 AM

Depends on demand and supply.

Even if you bring in millions of dollars and most people are selling it won't have much impact on the price.
The demands has to be higher than the supply to have the required impact. This is what the bots working against the market relies.
With enough money and crypto exchanges, the bots can theoretically be sent into massive confusion until the price is taken to a desired level.

It depends on the thickness of he order books actually.

If the order books are empty, I can sell 0.000001btc for $10k and the price will become $10k instantly. Maybe only for a second but it still will flash $10k.

If an order book is empty, even one single buy order can skyrocket the price of Bitcoin to $10k level. Who is going to sell such amount in this price is another good question. In my opinion, OP is asking for a stable phrase of BTC price.

Davidbike1

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Quote from: Davidbike1 on February 04, 2019, 08:26:44 PM

It could take only a penny if everyone quit freaking selling or putting sell orders on their coins.

Anyways if you wanted to know how much us dollars it will take to show the price on an exchange look at for example poloniex look at market depth and on the right red side for sell orders move the cursor on the red side to the point of $10,000 and at the instant time will tell you how many bitcoins and us dollars. Right now it shows that it takes 417 bitcoins and 1.8 million to make it to $5900

alonelyorange

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Not important how many dollar have you purchase to make bitcoin on higher price, but we need many investor will keep and hold their bitcoin asset for several month later, never sell your bitcoin because its the way how to make price grow up.

mindrust

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Quote from: Ucy on February 06, 2019, 07:18:21 AM

Depends on demand and supply.

Even if you bring in millions of dollars and most people are selling it won't have much impact on the price.
The demands has to be higher than the supply to have the required impact. This is what the bots working against the market relies.
With enough money and crypto exchanges, the bots can theoretically be sent into massive confusion until the price is taken to a desired level.

It depends on the thickness of he order books actually.

If the order books are empty, I can sell 0.000001btc for $10k and the price will become $10k instantly. Maybe only for a second but it still will flash $10k.

Ucy

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Compare rates on different exchanges & swap.

Depends on demand and supply.

Even if you bring in millions of dollars and most people are selling it won't have much impact on the price.
The demands has to be higher than the supply to have the required impact. This is what the bots working against the market relies on.
With enough money and crypto exchanges, the bots can theoretically be sent into massive confusion until the price is taken to a desired level.

eaLiTy

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Quote from: paramind22 on February 04, 2019, 03:51:40 PM

One could create a function to figure out an approximation. For instance, you know that once it reaches $4000, then it would be more expensive to buy it. Same thing with each dollar it climbs. You could say it would cost 4 million to reach $10,000 a BTC, or you could say 50 million. One is more accurate.

It is really hard to estimate the real transactions that are being carried out in bitcoin, you can view a partial summary with the total amount of trades being done in public exchanges and that is not an accurate estimate as there is over the counter sales which deals in millions of dollars worth of transactions being done privately on a daily basis, when the price of bitcoin was $10k the total market cap was close to $200 billion, we need more these investment from hedge funds and other financial institutions to see those levels again.

paramind22

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I'm just looking for a rough estimate. Something that has 30% give or take on either side. Maybe the factor of time is the variable that confuses it and makes it impossible to calculate. What if that money was spent at this moment in a constant buying pressure.

thesmallgod

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it is not possible to calculate or estimate that. First BTC trading is not one sided. meaning as you are buying, some are selling and since you do not have control over buy and sell order since you are not the only one trading, it will be difficult to calculate the amount of buy order that will make the price of bitcoin rise to $10000. The only constant thing we all know about trading is that the price of crypto increase when there is high demand meaning increasing buy order but how much purchase that is needed to make price rise to fixed amount is not holistic

creeps

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Quote from: paramind22 on February 04, 2019, 01:06:48 PM

How many dollars of BTC purchases would it take to go to $10,000?

It needs a good computation and of course a more good news to achieve that level. There is no exact volume or amount for this because it will still depend on the seller and buyer. If there’s big volume on the resistance level, no one can know how much is that, especially if the buyer is not enough to beat that. Many resistance before we achieve that level again, a more dollars to come to make it happen.

mudyak99

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No one can predict how many dollars to exchange it to pump Bitcoin price $10000/btc.

Kakmakr

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It all depends on the local demand for the coins. We have seen several instances where the bitcoin price in some countries are much higher than in other countries, because there are a much bigger demand for these coins in those countries on their local exchanges.

I have seen huge differences between prices in countries like Zimbabwe and Venezuela where there are a much higher demand, than average exchange prices in 1st world countries. Tongue

iMark

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Quote from: squatter on February 04, 2019, 03:47:02 PM

Quote from: paramind22 on February 04, 2019, 01:06:48 PM

How many dollars of BTC purchases would it take to go to $10,000?

It's impossible to calculate. The order books listed on exchanges are fluid and only give you a glimpse of overall market liquidity. As the price rises, more coins will enter the order books and it'll take more money to keep pushing price up.

Yeah I think it will be difficult to calculate it, but when viewed from history, we need marketcaps of around $200k million to reach that high price, while currently marketcaps are only 60k million. of course it takes a lot of adoption and good news to bring as much marketcaps

pooya87

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Quote from: paramind22 on February 04, 2019, 03:51:40 PM

Quote from: squatter on February 04, 2019, 03:47:02 PM

Quote from: paramind22 on February 04, 2019, 01:06:48 PM

How many dollars of BTC purchases would it take to go to $10,000?

It's impossible to calculate. The order books listed on exchanges are fluid and only give you a glimpse of overall market liquidity. As the price rises, more coins will enter the order books and it'll take more money to keep pushing price up.

One could create a function to figure out an approximation. For instance, you know that once it reaches $4000, then it would be more expensive to buy it. Same thing with each dollar it climbs. You could say it would cost 4 million to reach $10,000 a BTC, or you could say 50 million. One is more accurate.

it is easy to make as long as the exchanges have an API call function that has the ability to give you the orders in the sell order book. then it is just a matter of making the call and then adding the values, you may not even have to multiply anything since many of them do report it in both BTC and USD.
additionally, for the lazies, you can just open the exchange webpage and look at the charts, most of them have an order book chart which shows a V like chart representing the total amounts inside the order books.

but since there is no point in doing something like that, nobody is going to do it ever. you have to do it yourself if you want to know that value. as @squatter mentioned the market is dynamic, when the price starts rising that is the time when a lot of orders will start being placed. not to mention that many will sell at the market price without even placing an order so you don't see them in the order book now.

kucritt

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Quote from: sunsilk on February 04, 2019, 03:31:41 PM

Do you mean the market cap?

The current supply in circulation is 17,519, 362 base on coinmarketcap.com

If my calculation is right, market cap must be around $180B.

i dont know how to count it, why you can get the $1808? i have no idea how to count it, hahaha please tell me the formula how to count thatt things

Davidbike1

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It could take only a penny if everyone quit freaking selling or putting sell orders on their coins.

KingZee

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Quote from: paramind22 on February 04, 2019, 03:51:40 PM

Quote from: squatter on February 04, 2019, 03:47:02 PM

Quote from: paramind22 on February 04, 2019, 01:06:48 PM

How many dollars of BTC purchases would it take to go to $10,000?

It's impossible to calculate. The order books listed on exchanges are fluid and only give you a glimpse of overall market liquidity. As the price rises, more coins will enter the order books and it'll take more money to keep pushing price up.

One could create a function to figure out an approximation. For instance, you know that once it reaches $4000, then it would be more expensive to buy it. Same thing with each dollar it climbs. You could say it would cost 4 million to reach $10,000 a BTC, or you could say 50 million. One is more accurate.

That's not what he meant, some orders don't exist until the price reaches a certain point. Then people will be tempted to sell. The more the price goes up, the more people there are that are going to say "well, this is my stop, i'm out".

Even if you did calculate the price of how much it'd take you to clean up the whole list of buy orders up to 10k, you're still a long shot off.

paramind22

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Quote from: odolvlobo on February 04, 2019, 06:35:21 PM

Add up the values of all of the ask orders on all the exchanges with a price below $10,000. That's the minimum amount.

This seems realistic, but what is that number in dollars? Between 4 and 12 billion? You could add up the total numbers of buy orders on all exchanges going down to a reasonable amount ($3300?), and then add all the sell orders that are above around $3500 going up to $10,000. That would be current sell orders, but I'm sure there would be a downward price pressure of people wanting to sell once the price went over $5000.

odolvlobo

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Add up the values of all of the ask orders on all the exchanges with a price below $10,000. That's the minimum amount.

cryptjh

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Quote from: paramind22 on February 04, 2019, 01:06:48 PM

How many dollars of BTC purchases would it take to go to $10,000?

That really depend about how many bitcoins are for sale. If the market can see an uptrend many sell orders would also disappear, so moving the bitcoin price back to 10,000 would not take 115 billion as most bitcoins are not for sale, but more likely somewhere between 4 and 12 billion.

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Quote from: avikz on February 04, 2019, 03:55:15 PM

Considering the current market is 60.7 billion use, another 119.3 billion usd needs to be added.

That is the approximate amount assuming the price of Bitcoin won't move and having enough time to put in the $120 billion on all of the big exchanges.

To OP's question it's hard to get an accurate answer because you don't know how many traders are willing to sell their Bitcoin at the current price. Before you get to know the approximate amount you have to recalculate again because of how fast the orders are moving.

Quote from: o_e_l_e_o on February 04, 2019, 04:28:24 PM

Marketcap is simply the circulating supply multiplied by the price of the last sale. It isn't a great statistic to use, and completely meaningless when you try to apply it to altcoins and tokens.

I agree the marketcap should be less prioritized.

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