May 13th, Bitcoin will surge to $70k or it will be dump? - page 6.

magneto

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Quote from: janggernaut on May 03, 2021, 12:44:46 AM

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

Quote

USA: Tesla buys $1,5bn in Bitcoin. China: Alibaba, hold my beer.

I highly doubt that Alibaba has bought that much crypto.

Firstly, if they did, then the price action would be a lot crazier than they are currently. Unless they spread out their buys over a period of months which is very, very unlikely, a purchase of this size would swing the market up a lot more than the current price action suggests.

Secondly, they're already at odds with Chinese regulators. I highly doubt that Jack Ma and co. are stupid enough to actively trade a contentious asset under Chinese law.

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Quote from: janggernaut on May 03, 2021, 12:44:46 AM

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

Quote

USA: Tesla buys $1,5bn in Bitcoin. China: Alibaba, hold my beer.

I did a quick google search just now and it looks like that this "Alibaba buying Bitcoin" will remain as a rumor "at least for now".
I quoted the last part because I believe that they might enter too like most institutions did and will buy Bitcoin but on the other hand, I'm also thinking that Alibaba will not even try to touch it.

There are still 9 days before the 13th of May and it looks like that $70,000 prediction by this date is impossible to happen. ~$14,000 price increase in just 9 days?? I don't think that it is even possible not unless this rumor will happen in the next 9 days then it might be or at least break the previous ATH of Bitcoin but will not pass $70,000. I also believe that the previous support of $47,000 will be the strong support as of now and it will move sideways around $47,000 - $60,000.

adaseb

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This will most likely be like the Apple earnings which were also suppose to put Bitcoin on balance sheet, so we rallied to the earnings and then when we heard that they didn't buy Bitcoin, we dumped hard and alot of longs got stuck.

I heard this rumor and have no idea how it started. I think someone on Reddit posted it without any actual proof and it just took off. Maybe I would believe it if it was like $500 million or so however $20B is just ridiculous and I don't believe they would buy that much. If they were to buy it they would of bought it a long time ago not at $50K. I am pretty sure its a rumor.

slapper

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If there is an offcial annoucement from Alibaba, this will definitely be the great news for bitcoin and investors. People prbably take the opportunity to invest more money in bitcoin and push the price to $70k

Personally, I do not trust rumors because they are too untrustworthy and manipulative. So basically, big firm and holdings might have the official news before us and invest their money while bitcoin is low in order to sell when the news releases. It is not fair to new investors who just blindly jump on the ship

Scripture

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Quote from: janggernaut on May 03, 2021, 12:44:46 AM

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

Quote

USA: Tesla buys $1,5bn in Bitcoin. China: Alibaba, hold my beer.

This is just a speculation but if this is true, then we can expect another pump with Bitcoin since we all know Alibaba is a huge company as well and China is also a great country that support Bitcoin today after so many years of denying it.

Bitcoin is still on the up trend, we might see new all time high again in the coming days. Though this is not a financial advice, buying bitcoin today might give you profit by next week, we'll find out.

STT

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Quote from: btc_angela on May 03, 2021, 05:03:13 AM

I thought that Alibaba has already shoot down the rumour already?

Besides the Chinese government is hot on Alibaba and Jack Ma's company, their IPO didn't went on schedule because of regulatory pressures. And with that, I doubt that they wanted to make it worst on the eyes of Chinese regulators by investing their assets on BTC. And there was a interview from Jack Ma in 2019 saying that bitcoin is a bubble. So did he made a U-turn? So again, will take this rumour with a grain of salt.

I concur, upsetting the FEDS is one thing but you dont set out to upset the Chinese military dictatorship the communist firing line might just take you out and China isnt open to free currency and decentralized system of movement in anything really. I really dont see this company allows themselves the risks of extreme censorship by such an easily harsh regime. I indirectly own shares in Alibaba, I dont mind innovation at all or crypto but maybe dont cause unneeded trouble also especially while still growing.

Even disregarding that, if the 20bn is already purchased in entirety it could also be taken as some negative. The news is within the price, more bullish would be if we already rose this far for other reasons and then in the future this company announces they will move away from Chinese and Dollar currency to Bitcoin in any part at all. Thats when the price really would go up I think, but I disagree with OP premise as news of whatever occurred is not outright positive we are discussing rumors really but you want to know the effect on this date and its at best 50/50 either way.

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On the other hand, if this rumor is not true, will we see the opposite of our expectations?

This rumor has not a reliable source, I think Ma is not into investing in bitcoin as he thinks it's a bubble, but now his company acquired BTC worth billions?
That doesn't make sense, I know there are people who hate but later invest in bitcoin, but I doubt Alibaba would do that.

coin-investor

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Quote from: janggernaut on May 03, 2021, 12:44:46 AM

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

Quote

USA: Tesla buys $1,5bn in Bitcoin. China: Alibaba, hold my beer.

Honestly, I am not aware of the rumors and many people here are not but if the rumors are confirmed to be true expect a massive pump and $70k is just a start, people want confirmation people they invest, majority of investors are weak hands and part of the domino effect, who will just follow the market trend and whales whenever there is movement in the market.

yhiaali3

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This is for sure, I don't know if the news about Alibaba's buying of bitcoin is true because I heard that they will be the first supporter of the Chinese digital yuan, but regardless of if the rumors are true, we will definitely see a crazy bullish movement in Bitcoin like what happened when Tesla bought Bitcoin.
We will witness a dramatic movement of Bitcoin in the month of May, especially with the increase in news of large companies buying bitcoin, the last of which was Nexon Games company.

BrewMaster

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if Alibaba had such a massive investment in bitcoin ($20 billion is huge) they would have also accepted it as payment in their platforms which they don't. look at Tesla, they believed in bitcoin and they invested in it and they accept it as payment.

this news sounds fake to me, not just because what others said about size of it, you can still accumulate that much without affecting the market over medium time but because they don't accept bitcoin.

Wind_FURY

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Quote from: LFC_Bitcoin on May 03, 2021, 04:00:22 AM

If Alibaba announce a big bitcoin purchase then the price could pump. It definitely won’t dump if they don’t announce a big bitcoin acquisition though. Bitcoin is a mature market now, we don’t dump on bad news as often or as deeply any more.

I believe we might also see Bitcoin in an “extended bull market” during this current cycle, simply because or BRRR money printing to stimulate the economy during the pandemic, and more institutional investors buying and HODLing Bitcoin as a hedge BECAUSE of BRRR money printing. Cool

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Quote from: Wilhelm on May 03, 2021, 09:37:02 AM

Quote from: jostorres on May 03, 2021, 09:31:53 AM

Quote from: janggernaut on May 03, 2021, 12:44:46 AM

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

But, I'm not seeing any spike when some $20 billion entered into bitcoin market. Most probably it may remain as rumor. Still there are a lot of possibilities for them to have bought for such a big money in multiple days. But, $20 billion must be a very big money and people who are regularly monitoring bitcoin market along with volume might have noticed that. Let's wait for any official confirmation before or on 13th May.

Tesla told $1.5B was invested by the month of January itself and that times bitcoin was trading around $20k levels so there were possibilities as prices were continuously increasing in January/February/March.

Exactly. You can't just covertly buy $20bn without affecting the market price (aka make it go up)

Lets see

1 coin = 58k
10 coins = 580k
100 coins = 5.8m
1000 coins = 58m
10000 coins = 580m
100000 coins = 5.8b
350000 coins = 20.3b

So 350,000 coins must be shifted.

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

the top 100 wallets above hold a lot of unknown coins.

https://bitinfocharts.com/bitcoin/address/1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ 104k+

https://bitinfocharts.com/bitcoin/address/37XuVSEpWW4trkfmvWzegTHQt7BdktSKUs 94k+

https://bitinfocharts.com/bitcoin/address/1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF 79k+

https://bitinfocharts.com/bitcoin/address/3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb 73k+

https://bitinfocharts.com/bitcoin/address/bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6 69k+

the 5 above are the largest address with no known ownership they have enough coins to provide 20 billion dollars worth.

So private sales are possible. And the coins could change.

I see 63 unmarked addresses holding well over 1 million coins.

Wilhelm

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Quote from: jostorres on May 03, 2021, 09:31:53 AM

Quote from: janggernaut on May 03, 2021, 12:44:46 AM

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

But, I'm not seeing any spike when some $20 billion entered into bitcoin market. Most probably it may remain as rumor. Still there are a lot of possibilities for them to have bought for such a big money in multiple days. But, $20 billion must be a very big money and people who are regularly monitoring bitcoin market along with volume might have noticed that. Let's wait for any official confirmation before or on 13th May.

Tesla told $1.5B was invested by the month of January itself and that times bitcoin was trading around $20k levels so there were possibilities as prices were continuously increasing in January/February/March.

Exactly. You can't just covertly buy $20bn without affecting the market price (aka make it go up)

jostorres

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Quote from: janggernaut on May 03, 2021, 12:44:46 AM

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

But, I'm not seeing any spike when some $20 billion entered into bitcoin market. Most probably it may remain as rumor. Still there are a lot of possibilities for them to have bought for such a big money in multiple days. But, $20 billion must be a very big money and people who are regularly monitoring bitcoin market along with volume might have noticed that. Let's wait for any official confirmation before or on 13th May.

Tesla told $1.5B was invested by the month of January itself and that times bitcoin was trading around $20k levels so there were possibilities as prices were continuously increasing in January/February/March.

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Quote from: janggernaut on May 03, 2021, 12:44:46 AM

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

I think someone has discovered a way to profit from companies publishing their reports for Q1, without actually having any truth about them having anything to do with investing in Bitcoin at all. Just a few days ago, this rumor surfaced "Facebook will announce they hold #Bitcoin", which of course turned out to be one big nonsense in the end.

I have to admit that this is the first time I've heard that Alibaba has anything to do with Bitcoin, so it seems to me that this could end up as an FB rumor - because $20 billion is an amount that does not seem at all realistic in this context.

If this rumor turned out to be true, then Tesla and $1.5 billion would be a small baby compared to this investment - so the title is a bit strange, because $70k is too low - and there is no point in talking about a dump, such investment would certainly have a very positive effect on the crypto market.

blckhawk

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Quote from: janggernaut on May 03, 2021, 12:44:46 AM

I know we already heard the rumor if Alibaba has bought $20billion in bitcoin. They will publish their unaudited Q1 2021 report on this May 13th,

Source : https://www.google.com/amp/s/zycrypto.com/alibaba-rumored-to-have-bought-20-billion-in-bitcoin-will-this-come-to-fruition/%3famp

What do you think? If this really true, remember what happened when TESLA announced they have invested $1.5billion in BTC?

Quote

USA: Tesla buys $1,5bn in Bitcoin. China: Alibaba, hold my beer.

Well if that is true then Bitcoin will definitely pump and if it is not then there will be no changes no dump or whatsoever, it will still increase but slowly. $20billion is no joke, that would shake the market, it will bring hype resulting in FOMO and we know how Bitcoin pumps after the TESLAs announcement. Personally, $20billion was too much to be true and if Alibaba has certainly bought that amount Bitcoin's price has already surging up but what I am seeing is a slow back and forth movement. Anyway, let's wait on the 13th of May.

Fundamentals Of

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No, the price of Bitcoin will not pump or dump after we learned that Alibaba was buying or not. Why should Bitcoin's price react that much to Alibaba? How would you imagine Bitcoin, which has a total market cap of more than 1 trillion in US dollar, easily affected with just a single company's decision? It will definitely help promote Bitcoin but it does not mean the price will automatically pump or dump only because of it.

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This $20 billion is too huge an investment and I guess it will affect the market price. We witnessed on the tesla announcement that the price was suddenly going up and I think it will do the same on Alibaba announcement.

But as of now, I don't see any sign of movement of the crypto market price that going up the $50k range price still there and I don't see there was a resistance. I guess, it would be today or tomorrow, who knows if the market will suddenly to the moon in just a matter of an hour.

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20 Billion is just too much for a rumor. Future of Bitcoin is very much unclear, and this happening in China of all places makes even more unbeliveable. Isn't it that time of the year when China bans it again? Also companies need to think of shareholders and this would be too reckles bet considering them. We have no way of knowing if there will be huge carbon taxation on this thing in the future. It would be very surprising if nothing like that would happen.

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A pump most likely. I mean, that's $20b, not really a small amount so I'd reckon you'd see quite some changes in the market and a positive one. How big though? Probably not so much. I'd reckon it'd only be the company that would make it surge, and that's it. I'm pretty sure people wouldn't panic buy over something like that, unlike when companies started doing so.

As for a dump, it'd be unlikely. There's absolutely no negative thing whether Alibaba bought Bitcoin or not, so I don't really see a reason as to why it would even happen.

Topic: May 13th, Bitcoin will surge to $70k or it will be dump? - page 6. (Read 1145 times)