Is the selling pressure in the ATH level can be a problem to reach $100k? - page 4.

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Quote from: jeraldskie11 on October 14, 2023, 08:37:42 PM

Do you think it is possible that the price of Bitcoin will reach $100k immediately after the halving?

Yes, very possible. Many of the old investors are still willing to invest more, and more investors to come which will result in a strong demand to overcome the selling pressure at the ATH level.

It seems that the reason is very reasonable. If demand continues to increase, while supply decreases (due to halving), then there is a big opportunity for BTC to rise. But, after yesterday's news, BTC prices corrected again after strengthening temporarily.

It's true, it can create strong demand pressure, especially if old investors re-enter the market, at least it will be an attraction in itself so that the sentiment is positive so that many new investors will come.

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Anyone will be tempted when they see that the price of bitcoin can reach the ATH, it could be said that the profit is already in hand and missing this moment is of course something that is difficult to avoid, when the price passes the ATH, which has happened of course the selling pressure is very large, making it difficult for the price to rise higher.

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What will happen when the price approaches $100K, just like when it approaches the previous ATH of $69K, is that there will be a lot of selling orders. Anyone who has seen the books will know what I am talking about. When the price gets close to those figures everyone will be in profit, no matter how much they bought at, that's why the selling orders will skyrocket and it will take a few tries to beat those figures.

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Quote from: hatshepsut93 on October 17, 2023, 04:15:02 PM

Quote from: jeraldskie11 on October 14, 2023, 08:37:42 PM

And many of them who bought around 69k price were still holding their Bitcoin today.

The ATH peak lasted only for a day or so, I doubt there's a lot of people who bought at that time, who hold those coins till now, etc. Many of the losers of the last bull market have cut their losses and maybe even bought lower and are now sitting on a good position for the bull run. We don't really know the structure of the market, we don't have any data for that, maybe only the exchanges know it, but they won't share it, because why should they? So we can only make baseless guesses about who and when bought/sold some coins and what they plan to do.

Plus it all entirely ignores the buy pressure. If there's a huge buy pressure, it can overcome a selling pressure even at ATH.

I have the same thoughts as you, although we don't have any data on this but I don't believe someone who bought bitcoin with 69k$ can hold it until now. They are newbies lacking knowledge, so they bought at high prices or during the bull season, so they will not have the courage to hold until now. I think when bitcoin dropped to 40k$ or 30k$, they cut their losses because they thought the market would drop more or crash...As for experienced investors, they definitely will not buy at that price or will cut losses early if the price starts to fall.

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Quote from: jeraldskie11 on October 14, 2023, 08:37:42 PM

There was a sudden dump in the price that plugged many investors. And many of them who bought around 69k price were still holding their Bitcoin today. Maybe they think that if Bitcoin reaches this price, it's time for them to sell. It is certain that there will be selling pressure when the price of Bitcoin reaches such a level.

Anyone who bought at the current ATH of $69k shouldn't be in a hurry to sell off once price hits their entry price. They should target anything above $100k. Definitely (and expectedly, anyway), the new ATH that should happen in 2025 won't be anything short of $100k. That price level is easily achievable.

Quote from: taufik123 on October 16, 2023, 06:37:34 PM

The rectangular tool you used to mark out resistance area, is it hand drawn or it's an indicator that plots by itself? I like the way it gives the chart a fore knowledge of where price is headed.

Quote from: Odohu on October 14, 2023, 08:47:25 PM

When Bitcoin returns to $69k, I don't think there will be any selling pressure instead, it will confirm the expectations...

But of course, there will definitely be that pressure at that level. You've to know that those who are buying now at $26k – $28k+ will be on massive profit when Bitcoin hits $69k and they may not have the need to wait for $100k to take profit. Also, there are those who bought at ATH who won't hesitate to sell off once price gets to their entry point.

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Quote from: jeraldskie11 on October 14, 2023, 08:37:42 PM

And many of them who bought around 69k price were still holding their Bitcoin today.

The ATH peak lasted only for a day or so, I doubt there's a lot of people who bought at that time, who hold those coins till now, etc. Many of the losers of the last bull market have cut their losses and maybe even bought lower and are now sitting on a good position for the bull run. We don't really know the structure of the market, we don't have any data for that, maybe only the exchanges know it, but they won't share it, because why should they? So we can only make baseless guesses about who and when bought/sold some coins and what they plan to do.

Plus it all entirely ignores the buy pressure. If there's a huge buy pressure, it can overcome a selling pressure even at ATH.

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Quote from: Odohu on October 14, 2023, 08:47:25 PM

Nevertheless, even if Bitcoin gets to $1m, there will still be those that will HODL and never sell off.

As long as there are successful sellers, it implies that there are willing buyers. It doesn't matter what the price is; it's a transaction that invariably involves both sellers and buyers. Their perspectives differ, and we're all aware of that.

If Bitcoin were to reach $100,000, and everyone decided to sell it at that price, who would be willing to buy it at $100,000? Are new investors strong enough to enter at that price point? Consequently, an automatic mechanism would be created here: when the price of Bitcoin reaches any level, there will always be someone holding onto it, meaning they won't sell it. That's how it goes.

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Back before bitcoin broke $20K in 2021, it actually halted its advance in the $20K area. I think many who bought at $20K, finally got out or those that were trading figured it would break $20K right away, so there was massive selling pressure there.

With bitcoin at $69K or $100K the same will happen, many will sell in that area and it won’t advance as swiftly. You gotta realize there needs to be massive adoption for it to break $100k barrier.

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Yes, most likely, this scenario is very expected. Yesterday we saw how Bitcoin rose to 30K, but it immediately retreated due to intense selling pressure, so we will get the same scenario if Bitcoin rises to the previous peak.

But eventually those who have held Bitcoin all this time will sell, and as large new buyers enter the market and mining rewards halve, the quantity supplied will decrease, and then prices should start rising again.

Of course, this process takes some time, so I do not expect that we will witness a significant rise immediately after the halving, as some think, but it is certain that we will witness it in the end.

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Quote from: _BlackStar on October 16, 2023, 04:47:00 PM

I found the bitcoin price actually touched $30k a few hours ago - but heavy selling pressure has thwarted a breakout above it. It's the same scenario at the next ATH level - in fact I truly believe selling pressure will greatly increase whenever bitcoin breaks its strongest resistance. The price of bitcoin fell from $30k to $27k very quickly - so this scenario seems to answer your question well.
-snip-

Selling pressure when bitcoin breaks through the strongest resistance will certainly occur because the price needs a correction and the RSI Indicator indicates the market is over-bought or already in a saturated condition from its increase.
and down until it enters the Flip Trend area, with strong support that will determine whether it will continue to fall or be held to rise slowly.

The state of Bitcoin's decline is also due to the news about the acceptance of fake ETFs created by the cointelegraph, making the panic to sell bigger.

The pump dump a few hours ago was very fast, this may be market manipulation.
Because big media like Cointelegraph can be wrong in providing important news.

Quote from: JoyMarsha on October 16, 2023, 06:08:03 PM

Even though many investors purchased bitcoin at a high price of $69k, those crypto investors who still have it in their portfolio and haven't sold it yet deserve praise for realizing that if they keep hodling their bitcoin for a while, they won't lose money no matter how long bitcoin declines.
-snip-

Such investors are the real investors.
Even though he bought Bitcoin at a high price he was able to survive, but it is likely that the investor did DCA when the price was below $20k and it will accumulate Bitcoin assets that they hold.
They are holding for the long term and it is not time to sell, we will see when the ATH above $100k is reached because that is the target that many people predict.

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Quote from: jeraldskie11 on October 14, 2023, 08:37:42 PM

There was a sudden dump in the price that plugged many investors. And many of them who bought around 69k price were still holding their Bitcoin today. Maybe they think that if Bitcoin reaches this price, it's time for them to sell. It is certain that there will be selling pressure when the price of Bitcoin reaches such a level.

Even though many investors purchased bitcoin at a high price of $69k, those crypto investors who still have it in their portfolio and haven't sold it yet deserve praise for realizing that if they keep hodling their bitcoin for a while, they won't lose money no matter how long bitcoin declines.
People who have hodl bitcoin for a long time won't put forth much selling pressure on it. It will originate with people who will see their first bitcoin profits at a high price. It would be absurd for someone to hodl their bitcoin for such a long time at a price, only to sell it back at the same price with no gains.

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I found the bitcoin price actually touched $30k a few hours ago - but heavy selling pressure has thwarted a breakout above it. It's the same scenario at the next ATH level - in fact I truly believe selling pressure will greatly increase whenever bitcoin breaks its strongest resistance. The price of bitcoin fell from $30k to $27k very quickly - so this scenario seems to answer your question well.

Quote from: KingsDen on October 16, 2023, 09:15:32 AM

Quote from: Odohu on October 14, 2023, 08:47:25 PM

-snip-

It is not as easy as you have said to sell at lose. Anyone who buys for a purpose and bought with big capital will not just sell at lose. It is not easy to sell at lose especially if you know the potential of bitcoin to make another ATH after every halving.
When then price dropped from 69k to somewhere 65k to 50k, that was the region anyone was supposed to sell at lose. But then, they might have thought it was a mere correction and still held strong. If anyone bought at 60k and didn't sell at 50k, their loses would be massive.

But their losses will be recovered by accumulating more and being patient by holding bitcoin for long term. Do you remember how many people bought high in 2017 during the ATH - they obviously lost a lot of money, but if they were patient then the profits they made were certainly much bigger than they expected.

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Quote from: Odohu on October 14, 2023, 08:47:25 PM

Any of those who bought around $69k that still holding till now truly believe in Bitcoin and probably did not buy under pressure. This is because those who bought the hype of 2021 had already sold at loss and moved on. It is as easy as that and it's not going to change soon...

It is not as easy as you have said to sell at lose. Anyone who buys for a purpose and bought with big capital will not just sell at lose. It is not easy to sell at lose especially if you know the potential of bitcoin to make another ATH after every halving.
When then price dropped from 69k to somewhere 65k to 50k, that was the region anyone was supposed to sell at lose. But then, they might have thought it was a mere correction and still held strong. If anyone bought at 60k and didn't sell at 50k, their loses would be massive.

Quote from: jeraldskie11 on October 14, 2023, 08:37:42 PM

What you said will play out. History is a nice something to behold if you understand it. There is going to be a massive sell pressure at 70k and this will definitely defeat the 100k target. No matter how high bitcoin is projected to be, I will start selling with DCA immediately there is a new ATH.

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Yes it can happen. Now a days the crypto market is very unpredictable to be honest. So yes there is a possibility that this might really happen very soon. But to be safe, let’s assume that the ATH price will be seen when we reach 2024. As we know Bitcoins follow a 4 year cycle to reach ATH price, so yes waiting for 2024 will be the best option. In the meantime, buy as many Bitcoins as you can and hold it for long term.

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Quote from: imamusma on October 15, 2023, 02:59:41 PM

Each investor's profit target will be different, so in my opinion there will always be those who sell at every resistance and take profit. $100K is not completely guaranteed although it may be reached after the halving, so selling pressure between the previous ATH to $100K I think will be high.

I don't think it's a problem that could prevent $100K if bitcoin demand is higher than sales. Let the weak hands sell and take their profits and be patient until you make 2x or 3x more than them.

In addition to the different profit-taking goals of each investor, when the market increases in price, we will have many new people entering the market, I believe that many people will still optimistically buy at high prices and expect higher prices. Like investors who bought bitcoin for $69k in 2021. There will always be a pool of investors who become liquid for other investors and that is how the market works.

Furthermore, the market not only has retail investors but we also have market makers and sharks...And this is a manipulated market, so how much bitcoin reaches its ATH is not entirely determined by buying and selling.

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Quote from: jeraldskie11 on October 14, 2023, 08:37:42 PM

Do you think it is possible that the price of Bitcoin will reach $100k immediately after the halving?

Crypto analyst PlanB's popular S2F model predicts Bitcoin's price at $100,000 in 2024. However, with the 2024 Halving, i think we will not see Bitcoin's performance similar to previous halvings, as the bear market after the Halving event could hinder Bitcoin's upward momentum. Market sentiment and macroeconomic factors can influence the overall direction of the cryptocurrency market. Moreover, the rise of competitive and innovative cryptocurrencies could threaten Bitcoin's dominance.

As new digital assets emerge and become mainstream, they may cause some investments to shift away from Bitcoin. After the halving, rewards will be halved and cost calculation for miners will take center stage. This will increase the cost of mining operations and miners may not want to do their work. This could directly affect the transaction verification process and undermine the security of the network. In summary, I'm not too hopeful about the 2024 Halving and we may not see the price rocket like in the past.

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Quote from: jeraldskie11 on October 14, 2023, 08:37:42 PM

Do you think it is possible that the price of Bitcoin will reach $100k immediately after the halving?
Yes, very possible. Many of the old investors are still willing to invest more, and more investors to come which will result in a strong demand to overcome the selling pressure at the ATH level.

I don't think it will.
First of all, bitcoin's price isn't directly related to halving. You could see some examples of it over the year. Halving is one of the factors that influence price growth and may lead to FOMO, but it doesn't have to. After the 2020 halving we remained in the 10k zone for months. In July 2019 the price was around 12k and a whole year later it was actually lower, at 10k, despite it being months past halving.
There's no rule that says price has to go up right after halving and it hasn't happened in the previous cycle.

I think that the pressure will depend on the road bitcoin takes to 100k. If the road takes years, there won't be significant. If it happens in 2024, the way you speculate, the pressure will be big.
Obviously if we go to 80k in 2024, fall down, move back up and reach 100k in 2025, people will be more confident than if it suddenly spikes to 100k in less than 6 months.

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Each investor's profit target will be different, so in my opinion there will always be those who sell at every resistance and take profit. $100K is not completely guaranteed although it may be reached after the halving, so selling pressure between the previous ATH to $100K I think will be high.

I don't think it's a problem that could prevent $100K if bitcoin demand is higher than sales. Let the weak hands sell and take their profits and be patient until you make 2x or 3x more than them.

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I think we will have strong demand around halving so there won't be any unique issues that will delay all time high again. But I also believe there will be selling pressure when we hit above last halving ath. Even if we go beyond that there will be psychological pressure around 100k levels that will cause massive volatility. I always think best is to follow Pi top indicator as it clearly showed evidence where/when we hit all time high in last all time high.

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Quote from: jeraldskie11 on October 14, 2023, 08:37:42 PM

Do you think it is possible that the price of Bitcoin will reach $100k immediately after the halving?

No - $100k won't be reached immediately after the halving. Supposedly we need to be patient for a few months to expect an ATH - but if the bitcoin market is not affected by something major then it may take us months to find an ATH.

The halving alone will never be enough to hit $100k - but there will be big news that results in a masive increase in demand such as adoption and the rise of institutional investors using bitcoin as a hedge. I hope it - but I think we all need to be patient.

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