The direct reason why Bitcoin cannot exceed $100,000 - page 2.

Riceandbean

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Quote from: serjent05 on December 04, 2024, 02:27:21 PM

Quote from: Poker Player on November 30, 2024, 10:27:13 PM

If you don't want to look like a troll, and look ridiculous when the price exceeds $100K, you should change the title to something like: “The reason why the price so far has not been able to exceed $100K”.

What you say is nothing new. It also happened when the price approached $1K and $10K, it usually happens in round figures like that.

I highly agree, the title should be changed to a more open ended one. This title simply puts a period in which Bitcoin won't reach 100k in its existence. One day this title will be laughed at how near sighted the author is.

It is obvious that traders and even holders have target sell price but in the Bitcoin market, these sell pressures don't hold back the price of Bitcoin for too long since more and more demand keeps filing in, especially when it is a bull time for the market.

at the end of the post i said "However, the strong interest and anticipation around the $100,000 price point can contribute to upward momentum, ultimately driving Bitcoin's price toward that level." i didn't say the reason why bitcoin cant exceed 100k forever, Grin

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Quote from: Poker Player on November 30, 2024, 10:27:13 PM

If you don't want to look like a troll, and look ridiculous when the price exceeds $100K, you should change the title to something like: “The reason why the price so far has not been able to exceed $100K”.

What you say is nothing new. It also happened when the price approached $1K and $10K, it usually happens in round figures like that.

I highly agree, the title should be changed to a more open ended one. This title simply puts a period in which Bitcoin won't reach 100k in its existence. One day this title will be laughed at how near sighted the author is.

It is obvious that traders and even holders have target sell price but in the Bitcoin market, these sell pressures don't hold back the price of Bitcoin for too long since more and more demand keeps filing in, especially when it is a bull time for the market.

Riceandbean

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Quote from: HelliumZ on December 04, 2024, 10:03:44 AM

Quote from: Riceandbean on November 30, 2024, 05:26:45 PM

You wait a few days and see how Bitcoin goes up and touches $100k. Although Bitcoin was very close to touching $100k in November but did not touch that milestone in November. But so far bitcoin has not gone below 90k dollars which means if bitcoin session starts now then bitcoin can touch 100k dollar anytime soon.

The market trend is uncertain, and we will have to wait and see what happens in the future.but few days we can't see it touch the target

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Quote from: Riceandbean on November 30, 2024, 05:26:45 PM

When trading cryptocurrency futures, traders can set automatic buy and sell prices. In the early stages, many Bitcoin futures were programmed to sell automatically at $100,000. This created significant buying pressure as the market approached this price. The demand for Bitcoin increased, requiring more fiat currency to execute these automatic sell orders. If the funds available in the market were insufficient to meet this demand, it could lead to a price correction. However, the strong interest and anticipation around the $100,000 price point can contribute to upward momentum, ultimately driving Bitcoin's price toward that level.

Bitcoin price has not yet fallen below $90k which means that the major correction of Bitcoin has not started yet. At any moment the price of Bitcoin is $100k again. can hit And I believe that will happen. The price of Bitcoin is a bit looser and because of this other coins will start to rise and some coins have already started to rise. And then bitcoin price will hit 100k again and then go into big correction. So I am still not afraid for Bitcoin price

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Quote from: Riceandbean on November 30, 2024, 05:26:45 PM

You wait a few days and see how Bitcoin goes up and touches $100k. Although Bitcoin was very close to touching $100k in November but did not touch that milestone in November. But so far bitcoin has not gone below 90k dollars which means if bitcoin session starts now then bitcoin can touch 100k dollar anytime soon.

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Quote from: Riceandbean on November 30, 2024, 05:26:45 PM

When trading cryptocurrency futures, traders can set automatic buy and sell prices. In the early stages, many Bitcoin futures were programmed to sell automatically at $100,000. This created significant buying pressure as the market approached this price. The demand for Bitcoin increased, requiring more fiat currency to execute these automatic sell orders. If the funds available in the market were insufficient to meet this demand, it could lead to a price correction. However, the strong interest and anticipation around the $100,000 price point can contribute to upward momentum, ultimately driving Bitcoin's price toward that level.

While many Bitcoin traders are now expecting the $100K mark, recent market condition shows very strong resistance just near that level. Bitcoin futures on CME hit $100,200, but spot prices have struggled to follow because the consistent selling pressure just below $100K. It's not just a lack of fiat liquidity, it's market psychology and profit taking strategies. Many traders close their positions near to key psychological milestones, which may initiate short term corrections. Still, the overall sentiment remains bullish, as the options data has quite strongly pointed to a probable event of Bitcoin crossing $100,000K in the year 2024. Thus, while $100K could fuel momentum, it might take longer for the price to actually reach and sustain that level than some had initially expected.

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Quote from: Riceandbean on November 30, 2024, 05:26:45 PM

When trading cryptocurrency futures, traders can set automatic buy and sell prices. In the early stages, many Bitcoin futures were programmed to sell automatically at $100,000. This created significant buying pressure as the market approached this price. The demand for Bitcoin increased, requiring more fiat currency to execute these automatic sell orders. If the funds available in the market were insufficient to meet this demand, it could lead to a price correction. However, the strong interest and anticipation around the $100,000 price point can contribute to upward momentum, ultimately driving Bitcoin's price toward that level.

For many long-term traders, 100k was the target at which they would exit, especially for players with large capital, because at this price their profit is quite high. Some did not want to wait for 100k because they understood that approaching this price would lead to high volatility.

For smaller investors, 100k may not be an enough target because of not very large investments and they will wait for further growth in the price of bitcoin. And what we are seeing now when altcoins start to grow means that there may be a transfer of capital from bitcoin to altcoins, this is also another way to make a profit from capital.

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Quote from: Franctoshi on December 02, 2024, 03:58:47 PM

There was a thread where I said something regarding what the price will do nearing 100k, two things either it goes straight and smash
100k or consolidate around 96k , and this is what is happening right now and I'm not surprised about it, there are so many sell orders at 100k, now the Market used to do this when there is such sell pressure, create liquidity in order to absorb those sell pressure.

The barrier will be broken eventually, - we are now in a position to patiently wait to see the rally for BTC in its full swing, and only then we may talk about the price being corrected. That's how I see it, at least.

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Quote from: MarjorieZimmermanGinger on December 03, 2024, 11:27:58 PM

Quote from: Franctoshi on December 02, 2024, 03:58:47 PM

There was a thread where I said something regarding what the price will do nearing 100k, two things either it goes straight and smash
100k or consolidate around 96k , and this is what is happening right now and I'm not surprised about it, there are so many sell orders at 100k, now the Market used to do this when there is such sell pressure, create liquidity in order to absorb those sell pressure.

That is what happened and when there are more and more orders at 100k it will create pressure for a little sideways movement and that is a possible natural market reaction. Now bitcoin will take a stance in consolidating towards that price or otherwise will experience a process of decline at some point. For me the most important thing is to stay calm even though later we will see a correction because in a stance bitcoin will definitely touch that price again. If it doesn't happen at the end of the year then maybe we will see momentum in the month of 5 next year for the process to be passed.

Correction is going to happen, but I do think it will be true after >$100k, because now we only see a glimpse of what it would do - some dips here and there.
The correction is when the market feels the drop in price - I would say >10%.

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Quote from: davis196 on December 04, 2024, 01:53:10 AM

Quote from: Riceandbean on November 30, 2024, 05:26:45 PM

When trading cryptocurrency futures, traders can set automatic buy and sell prices. In the early stages, many Bitcoin futures were programmed to sell automatically at $100,000. This created significant buying pressure as the market approached this price. The demand for Bitcoin increased, requiring more fiat currency to execute these automatic sell orders. If the funds available in the market were insufficient to meet this demand, it could lead to a price correction. However, the strong interest and anticipation around the $100,000 price point can contribute to upward momentum, ultimately driving Bitcoin's price toward that level.

I think that the Bitcoin futures create selling pressure, not buying pressure. The selling pressure on the Bitcoin spot market is also quite big. Many traders simply don't want to wait for a price above 100K, so they will just sell and take the profits at a price that is lower than 100K.
I don't know about BTC futures at "the early stages" being set at a 100K sell price. Where did you get this information? Can you post a link to the source of info or something? I don't believe that the BTC futures market has that big influence over the BTC spot market. It's supposed to be the other way around.

I think it's more a psycho barrier than anything else.
People like flashy numbers in thousands and hundreds of them - reaching it, it would be dipped or even corrected, and that's okay.
As time goes on, we would go even beyond that. No matter the market we look at.

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Quote from: Plaguedeath on December 01, 2024, 05:21:57 AM

If you want to say Bitcoin price will not exceed $100K in this year, there's a possibility since based on the pattern, this month we will see a small drop.

But, if you said Bitcoin price will never exceed $100K, it's impossible in the first place except Kim Jong Un or Putin choose to launch nuclear bomb which will destroy everything in this world.

It's unfortunate people will choose attention catching topic and end up with some gibberish under the post.

I expected to see reasons and more reasons despite I know the uncertainty of the claim, I still expect rational and genuine arguments. How don't really know how on earth someone will make conclusion from future markets price from exchanges. If we are to go by that logic, what about the Pre-market? Can we determine and conclude based on the Pre-market price? How many times have we seen a different price either higher or lower than Pre-market price? The same thing is applicable to future markets, it's not a determinant. The rally to $100k is much more possible either before the end of this year or early next year.

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Quote from: Riceandbean on November 30, 2024, 05:26:45 PM

When trading cryptocurrency futures, traders can set automatic buy and sell prices. In the early stages, many Bitcoin futures were programmed to sell automatically at $100,000. This created significant buying pressure as the market approached this price. The demand for Bitcoin increased, requiring more fiat currency to execute these automatic sell orders. If the funds available in the market were insufficient to meet this demand, it could lead to a price correction. However, the strong interest and anticipation around the $100,000 price point can contribute to upward momentum, ultimately driving Bitcoin's price toward that level.

I think that the Bitcoin futures create selling pressure, not buying pressure. The selling pressure on the Bitcoin spot market is also quite big. Many traders simply don't want to wait for a price above 100K, so they will just sell and take the profits at a price that is lower than 100K.
I don't know about BTC futures at "the early stages" being set at a 100K sell price. Where did you get this information? Can you post a link to the source of info or something? I don't believe that the BTC futures market has that big influence over the BTC spot market. It's supposed to be the other way around.

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Quote from: Riceandbean on November 30, 2024, 05:26:45 PM

When trading cryptocurrency futures, traders can set automatic buy and sell prices. In the early stages, many Bitcoin futures were programmed to sell automatically at $100,000. This created significant buying pressure as the market approached this price. The demand for Bitcoin increased, requiring more fiat currency to execute these automatic sell orders. If the funds available in the market were insufficient to meet this demand, it could lead to a price correction. However, the strong interest and anticipation around the $100,000 price point can contribute to upward momentum, ultimately driving Bitcoin's price toward that level.

You have a good point, the way traders/investors think creates the psychology around the market and helps the sentiment we often see, it is never a trick. So I know that people were sceptical of $100,000 and I received enough calls from traders that they are selling close to $100,000 even as they are receiving info from many other traders (online and offline) that they are selling close to that level as well.

No wonder Bitcoin could not hit the $100,000 market despite being very close to it, it was just $197 short of the target on my chart, so the selling pressure caused by Sell Limit orders and the subsequent real-time ones are indeed impactful. Nevertheless, Bitcoin has taken a breath, it may consolidate for a while to stabilise close to that level before gaining the needed momentum to hit it and slice it through.

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Quote from: Franctoshi on December 02, 2024, 03:58:47 PM

There was a thread where I said something regarding what the price will do nearing 100k, two things either it goes straight and smash
100k or consolidate around 96k , and this is what is happening right now and I'm not surprised about it, there are so many sell orders at 100k, now the Market used to do this when there is such sell pressure, create liquidity in order to absorb those sell pressure.

That is what happened and when there are more and more orders at 100k it will create pressure for a little sideways movement and that is a possible natural market reaction. Now bitcoin will take a stance in consolidating towards that price or otherwise will experience a process of decline at some point. For me the most important thing is to stay calm even though later we will see a correction because in a stance bitcoin will definitely touch that price again. If it doesn't happen at the end of the year then maybe we will see momentum in the month of 5 next year for the process to be passed.

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Quote from: Ever-young on December 02, 2024, 12:13:39 PM

Quote from: Finestream on December 02, 2024, 05:16:47 AM

We've been hoping Bitcoin would break that amount, but it hasn't yet. Perhaps the resistance is too strong to be broken. As we keep trying and failing, I'm concerned that the next move could be a prolonged market correction. It's been 2 to 3 weeks already that Bitcoin has been very close to that price, yet it still hasn't succeeded.

I don't think anyone could have ever believed that Bitcoin would not be at the $100k level by now. Even if it doesn't stay there for long, at least the price should have been reached before it drops down to wherever it is. I don't know why the resistance level is this strong, but anything holding it back, I don't think it will stand for long.

Before the end of this new month (December), that $100k will be reached. It will really be a bit disappointing that Bitcoin can't cross to $100k this year after reaching $99k, but I hope that doesn't happen; even if it does happen, the next move will come as a shock to us.

Just because we believe bitcoin will hit $100k doesn't mean it will definitely happen because we can't stop others from selling. The gap between $100k and $99k or $96k isn't that big so I wouldn't be surprised if a lot of people start taking profits. So I don't rule out the possibility that bitcoin won't hit $100k before the end of the year.

Even if bitcoin doesn't hit $100k this year, we don't need to despair. Because historically, the biggest bull run happened in 2025 and what we should be more concerned about is what ATH Bitcoin price can reach when this bull run ends. For me, the $100k goal is no longer a goal because we are almost there.

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There was a thread where I said something regarding what the price will do nearing 100k, two things either it goes straight and smash
100k or consolidate around 96k , and this is what is happening right now and I'm not surprised about it, there are so many sell orders at 100k, now the Market used to do this when there is such sell pressure, create liquidity in order to absorb those sell pressure.

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Quote from: AVE5 on December 01, 2024, 08:17:11 AM

Quote from: Riceandbean on November 30, 2024, 05:26:45 PM

When trading cryptocurrency futures, traders can set automatic buy and sell prices. In the early stages, many Bitcoin futures were programmed to sell automatically at $100,000. This created significant buying pressure as the market approached this price. The demand for Bitcoin increased, requiring more fiat currency to execute these automatic sell orders. If the funds available in the market were insufficient to meet this demand, it could lead to a price correction. However, the strong interest and anticipation around the $100,000 price point can contribute to upward momentum, ultimately driving Bitcoin's price toward that level.

I don't know what earlier stage you're referring to had seen bitcoin price at the base of $100,000 while we've an Ath of 99,655.50 on November.
I'll agree with you that during when the market skyrocketed, it created admirations of enthusiasts and investors to buy more of bitcoins and hold with they anxieties that the increase market price would keep on rocking.
I myself can't tell the reason why the market hasn't broken the record of $100,000 but would only assume that it was for a market correction though definitely we'd soon get the market up to the moon at the event of the bull run soonest.
Then it'd become another phase to attract more investors since some enthusiasts awaits for bitcoin taking increment shape before they could buy.

What OP said doesn't make sense because the early days of futures was in 2018 when the price barely made it to $20k. I don't think that these people were setting auto sell orders at $100k when the price was 20k and heading lower.

100k is a simple round number resistance similar to what $1k used to be in the past. That said, the market is heavily manipulated and influenced by extraordinary factors. For instance, we eventually blew past $1k in 2013 but it wasn't natural. It was due to MtGox bot trying to make money for the CEO, so one could say we hit $1k and went higher therefore we should have done the same a few weeks ago.

We always knew $100k would be a resistance, even in 2021 when we were at 70k we knew that 100k is max what we can achieve in that run.

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Quote from: Riceandbean on November 30, 2024, 05:26:45 PM

When trading cryptocurrency futures, traders can set automatic buy and sell prices. In the early stages, many Bitcoin futures were programmed to sell automatically at $100,000. This created significant buying pressure as the market approached this price. The demand for Bitcoin increased, requiring more fiat currency to execute these automatic sell orders. If the funds available in the market were insufficient to meet this demand, it could lead to a price correction. However, the strong interest and anticipation around the $100,000 price point can contribute to upward momentum, ultimately driving Bitcoin's price toward that level.

It's just a matter of time, bitcoin will ultimately surge in price and cross the benchmark of $100k. Even though most traders set buying and selling Oder withing $90k to $100k, it will not stagnate bitcoin volatility below $100k price. Bitcoin will surely surge higher because many people are adopting bitcoin to HODl and not to trade. However HODLer add more increase to the market than traders, hence traders only make demand and supply to keep staggering unlike HODLers who create scarcity and drive demand higher than supply. So definitely hodler will increase bitcoin to supersede or exceed $100k.

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Quote from: Finestream on December 02, 2024, 05:16:47 AM

We've been hoping Bitcoin would break that amount, but it hasn't yet. Perhaps the resistance is too strong to be broken. As we keep trying and failing, I'm concerned that the next move could be a prolonged market correction. It's been 2 to 3 weeks already that Bitcoin has been very close to that price, yet it still hasn't succeeded.

I don't think anyone could have ever believed that Bitcoin would not be at the $100k level by now. Even if it doesn't stay there for long, at least the price should have been reached before it drops down to wherever it is. I don't know why the resistance level is this strong, but anything holding it back, I don't think it will stand for long.

Before the end of this new month (December), that $100k will be reached. It will really be a bit disappointing that Bitcoin can't cross to $100k this year after reaching $99k, but I hope that doesn't happen; even if it does happen, the next move will come as a shock to us.

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Quote from: Riceandbean on November 30, 2024, 05:26:45 PM

When trading cryptocurrency futures, traders can set automatic buy and sell prices. In the early stages, many Bitcoin futures were programmed to sell automatically at $100,000. This created significant buying pressure as the market approached this price. The demand for Bitcoin increased, requiring more fiat currency to execute these automatic sell orders. If the funds available in the market were insufficient to meet this demand, it could lead to a price correction. However, the strong interest and anticipation around the $100,000 price point can contribute to upward momentum, ultimately driving Bitcoin's price toward that level.

What do you mean by early stages? Futures trading contracts come with an expiry date. Legally no one can buy a futures contract with no expiry date on it. Or do you know any exchanges where it is possible? Would you like to share?

I don't think the futures market is the reason why Bitcoin is not exceeding 100k. The reason is mainly profit booking. Right now, a lot of miners and investors are booking profits which was long due for them. So there is definitely a selling pressure being experienced by the market. It will go on for some time is what I can assume. But the price correction after an ATH, is very normal and part of the process.

Topic: The direct reason why Bitcoin cannot exceed $100,000 - page 2. (Read 800 times)