Purely speculation and hype on news is the main reason why BTC and not that $425 million USD bitcoin purchase alone. As stated above of some user, With bitcoin marketcap, It doesn't seem so realistic to give credits alone to that 425M purchase because it will just pump the price maybe around 20 to 30% for a short time and will surely drop once no follow up buying pressure.
You can't determine exactly what is the reason unless you will track all big purchase of BTC and determine the owner of that address.
Topic: The cause of the recent Bitcoin price hikes - page 2. (Read 323 times)
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Big companies buying a lot of bitcoin and making a news, nearly a billion dollars bought and stored, is something very valuable. Just because marketcap is ato hundreds of billions dollars doesn't mean that you can't change it with just half a billion dollars you can definitely create a rally behind bitcoins bull run and cause everyone else to get hyped as well which will mean that your half a billion dollars will be not the important part, it will be all the other people you stirred up to get the price higher.
We are going to find many other reasons as well, this one news is not really enough to increase it, all the paypals and eth 2.0 and many other stuff are contributing factors as well, but these all pay a role, none of them are useless irrelevant news, they all play either a big or a small role in increasing the price.
We are going to find many other reasons as well, this one news is not really enough to increase it, all the paypals and eth 2.0 and many other stuff are contributing factors as well, but these all pay a role, none of them are useless irrelevant news, they all play either a big or a small role in increasing the price.
Coinbase bought MicroStrategy's $ 425 million worth of Bitcoins in September 2020, which spiked the price of BTC, whether Bitcoin is hitting the next new high.
$435 million worth of Bitcoin?and not 425 million Bitcoin?The Market Capitalization now is $570 Billion ,and the Bitcoin Capitalization is 356 billion Dollars..
Now please Mind How come that that not even 1% of the totality Funds inside Bitcoin will Trigger the Bullying of Bitcoin?
And the new ATH already happen last week.
But What we must be proud is the idea that Bitcoin proves coming back from the lowest value this ever had.
Yes we all know when that guy bought all those bitcoins. His average price if I recall is $11111 or so. He was actually a little underwater for a while on his position. The question to ask now is? Did he sell any of those bitcoins. Honestly it would seem irresponsible to not take a least some off the table.
We won't know until the reports are released from his companies holdings. However I predict that if the market finds out that a portion of his BTC holdings were sold recently then the market might take it as bearish news and a sell-off can start. Especially if its released in January when most people are going to be selling anyways for tax reasons.
However keep in mind when he was buying those BTC. He bought it very slowly. He didn't cause any type of FOMO. Price went below his average anyways. So him buying those bitcoins in secret caused no market reaction until it was revealed a few weeks after.
haha it's kind of like the crowd effect, when people see someone or more people buy it they get swept up and buy BTC in any amount. We won't know until the reports are released from his companies holdings. However I predict that if the market finds out that a portion of his BTC holdings were sold recently then the market might take it as bearish news and a sell-off can start. Especially if its released in January when most people are going to be selling anyways for tax reasons.
However keep in mind when he was buying those BTC. He bought it very slowly. He didn't cause any type of FOMO. Price went below his average anyways. So him buying those bitcoins in secret caused no market reaction until it was revealed a few weeks after.
Coinbase bought MicroStrategy's $ 425 million worth of Bitcoins in September 2020, which spiked the price of BTC, whether Bitcoin is hitting the next new high.
We really didn't have this info in our hand in the beginning though, so we can't really say that it is the big cause of the massive spike to $19k or even as others have said, new all time high. But I will tell you that right after the halving, there is already a huge demand on bitcoin that's why the price keeps slowly rising up. So basicially, FOMO and then supply and demand that really spike the price.
MicroStrategy or whatever companies coming into the picture is somewhat like a icing on the cake. So in the end in the last 2 months or so, we have seen the price going up steadily with some minor retracement.
Coinbase bought MicroStrategy's $ 425 million worth of Bitcoins in September 2020, which spiked the price of BTC, whether Bitcoin is hitting the next new high.
We really didn't have this info in our hand in the beginning though, so we can't really say that it is the big cause of the massive spike to $19k or even as others have said, new all time high. But I will tell you that right after the halving, there is already a huge demand on bitcoin that's why the price keeps slowly rising up. So basicially, FOMO and then supply and demand that really spike the price.
MicroStrategy or whatever companies coming into the picture is somewhat like a icing on the cake. So in the end in the last 2 months or so, we have seen the price going up steadily with some minor retracement.
Yes we all know when that guy bought all those bitcoins. His average price if I recall is $11111 or so. He was actually a little underwater for a while on his position. The question to ask now is? Did he sell any of those bitcoins. Honestly it would seem irresponsible to not take a least some off the table.
We won't know until the reports are released from his companies holdings. However I predict that if the market finds out that a portion of his BTC holdings were sold recently then the market might take it as bearish news and a sell-off can start. Especially if its released in January when most people are going to be selling anyways for tax reasons.
However keep in mind when he was buying those BTC. He bought it very slowly. He didn't cause any type of FOMO. Price went below his average anyways. So him buying those bitcoins in secret caused no market reaction until it was revealed a few weeks after.
We won't know until the reports are released from his companies holdings. However I predict that if the market finds out that a portion of his BTC holdings were sold recently then the market might take it as bearish news and a sell-off can start. Especially if its released in January when most people are going to be selling anyways for tax reasons.
However keep in mind when he was buying those BTC. He bought it very slowly. He didn't cause any type of FOMO. Price went below his average anyways. So him buying those bitcoins in secret caused no market reaction until it was revealed a few weeks after.
Coinbase bought MicroStrategy's $ 425 million worth of Bitcoins in September 2020, which spiked the price of BTC, whether Bitcoin is hitting the next new high.
$435 million worth of Bitcoin?and not 425 million Bitcoin?The Market Capitalization now is $570 Billion ,and the Bitcoin Capitalization is 356 billion Dollars..
Now please Mind How come that that not even 1% of the totality Funds inside Bitcoin will Trigger the Bullying of Bitcoin?
And the new ATH already happen last week.
But What we must be proud is the idea that Bitcoin proves coming back from the lowest value this ever had.
Coinbase bought MicroStrategy's $ 425 million worth of Bitcoins in September 2020, which spiked the price of BTC, whether Bitcoin is hitting the next new high.
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