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Topic: Something (Read 139 times)

legendary
Activity: 2506
Merit: 1394
January 21, 2024, 09:15:40 PM
#10
Whether we like it or not, these moves are imminent and whatever is the reason for transfers, treat these are basic transfers from these big companies. And if they're going to dump those Bitcoins, you'll get to see the effect of it on the market right away. But if you don't think that there's nothing to worry about, then give me high five as that's a normal scenario on this market with some random huge transfers usually comes. The market will move on its own regardless of how and low transfers will be said.
Exactly, this is also what I am thinking because if they are dumping for sure most people will not see it coming or notice it.
Me, from what I can see, everything is fine, I can't say that institutions are dumping because we are still sitting above $40,000.
hero member
Activity: 406
Merit: 443
January 21, 2024, 08:56:49 PM
#9
🇺🇸 Right before US markets open, Grayscale sends another ~14,000 Bitcoin to Coinbase 😮
This is not true, they do not sell Bitcoin, but it is transferred from the ownership of Grayscale to BlackRock or one of the other investment funds. Therefore, we do not see a negative reaction from prices, and so far the demand between these funds is covered.


This move is not new and you will find a lot of it in accounts analyzing Grayscale's movements on Twitter.
hero member
Activity: 3080
Merit: 603
January 21, 2024, 04:50:06 PM
#8
Whether we like it or not, these moves are imminent and whatever is the reason for transfers, treat these are basic transfers from these big companies. And if they're going to dump those Bitcoins, you'll get to see the effect of it on the market right away. But if you don't think that there's nothing to worry about, then give me high five as that's a normal scenario on this market with some random huge transfers usually comes. The market will move on its own regardless of how and low transfers will be said.
legendary
Activity: 966
Merit: 1042
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January 21, 2024, 04:28:17 PM
#7
Ohh, nice haha, Going to the exchange of the currency will be a Bearish sign as far I can relate but still, we cant say anything that the market will give us a chance of major accumulation below 38k. At least for now, this seems quite Impossible (I want it to be possible but psychologically and emotionally seems non-realistic).

Also who cares where Bitcoin is moving, I don't consider myself one of the week, hands haha at least not for now.
copper member
Activity: 2170
Merit: 1822
Top Crypto Casino
January 20, 2024, 05:58:24 PM
#6
Why should anyone worry about moving 14,000 BTC to Coinbase?
To me, this is a win-win situation. Should the Bitcoin price dump, that means we have another chance to accumulate more sats shortly before the halving, which is closing in each block that gets confirmed.
Our fear should actually be about the likes of Gray Scale holding a large supply of Bitcoins and making it hard for the retail traders to acquire or trade in the Bitcoin market.
sr. member
Activity: 1148
Merit: 252
Undeads.com - P2E Runner Game
January 20, 2024, 12:08:16 PM
#5
🇺🇸 Right before US markets open, Grayscale sends another ~14,000 Bitcoin to Coinbase 😮
If I am right, Grayscale sent it to Coinbase OTC market, not Spot market. They have to sell their bitcoins to proceed exit request from their customers.

However soon we will see this wave ends because not all customers will leave Grayscale to move to other companies with cheaper fees in Bitcoin Spot ETFs. Some customers have conditions that they have to keep minimal fund to invest in Grayscale and I am sure those institutional investors will not leave Grayscale.

There are customers who will not sell their shares to leave Grayscale because they don't want to take profit now and be charged with personal tax.

When the leaving wave from Grayscale ends, the market will calm down. Don't let this short term movement affects your own long term investment plan.

Of course people will be worried, especially those who don't know about this news, and only buy because of the invitation of friends or relatives, or influencers they watch.
that's why market prices fluctuate so much because there are many types of holders who don't know what's really going on.
sr. member
Activity: 1554
Merit: 334
January 20, 2024, 03:21:32 AM
#4
When the leaving wave from Grayscale ends, the market will calm down. Don't let this short term movement affects your own long term investment plan.
Hopefully what they're doing is going to allow me to invest into bitcoin at a lower price and get some profit, I wouldn't say that I agree or disagree totally with the advice to not let this influence how you invest for the long-term when this can be a useful knowledge in terms of buying bitcoin or shorting bitcoin to gain a profit, it will affect my plan but in a positive way.
legendary
Activity: 2296
Merit: 2721
January 20, 2024, 02:12:52 AM
#3
[...]
When the leaving wave from Grayscale ends, the market will calm down. Don't let this short term movement affects your own long term investment plan.
The wave of departures from Grayscale was to be expected, as sorry as I am personally. I have always given Grayscale a lot of credit for being one of the pioneers here and creating an easy way for larger investors in particular to invest in BTC.

To put the 14k BTC in perspective: Yesterday, the global trading volume of BTC was at $25,364,926,934 USD, which is about 700k BTC. The sale of Grayscale is therefore just 5% of the daily (!) trading volume, should Grayscale sell it all at once and not spread out in tranches over several days.


Source
hero member
Activity: 1442
Merit: 775
January 19, 2024, 10:52:24 PM
#2
🇺🇸 Right before US markets open, Grayscale sends another ~14,000 Bitcoin to Coinbase 😮
If I am right, Grayscale sent it to Coinbase OTC market, not Spot market. They have to sell their bitcoins to proceed exit request from their customers.

However soon we will see this wave ends because not all customers will leave Grayscale to move to other companies with cheaper fees in Bitcoin Spot ETFs. Some customers have conditions that they have to keep minimal fund to invest in Grayscale and I am sure those institutional investors will not leave Grayscale.

There are customers who will not sell their shares to leave Grayscale because they don't want to take profit now and be charged with personal tax.

When the leaving wave from Grayscale ends, the market will calm down. Don't let this short term movement affects your own long term investment plan.
newbie
Activity: 11
Merit: 2
January 19, 2024, 10:17:12 PM
#1
🇺🇸 Right before US markets open, Grayscale sends another ~14,000 Bitcoin to Coinbase 😮




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