The price of bitcoin may go bull soon - page 3.

sana54210

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Quote from: LUCKMCFLY on April 09, 2021, 09:32:44 AM

There is an indicator that shows according to Glassnode that the selling pressure of Bitcoin has decreased:

Quote

The red bars in the chart above reflect higher transactional volume from holders’ wallets than to those who let the cryptocurrency sit ideal in their wallets. On the other hand, a green bar shows that more people prefer to hold bitcoin instead of transferring them to other addresses.

“Selling pressure is decreasing,” the analyst ruled out after studying the pattern.

“Taken at the face value this chart means compared to a month ago more coins have been added to LTH UTXO than have left them. I’d say this is bullish,” he added.

Source: newsbtc.com/news/bitcoin/bitcoin-selling-pressure-is-declining-hints-key-glassnode-indicator/

In addition, this April 14, due to the exposure of Bitcoin on Wall Street, it is likely that we will see a possible uptrend, some say that it will be a day of great volatility and that it may fall in price, it is mere speculation, it exists in the market a strong institutional investment such as Mastercard, Visa, Bank of New York Mellon, Morgan Stanley, PayPal, Microestrategy, among others, this helps to have a better vision of Bitcoin, in addition to the great adoption by NFTs, which is currently In fashion, this trend may make a good impression and investors become more trust.

That is a wonderful chart, I have always seen these type of charts as useless most of the time (regular charts of crypto, not this type of chart exactly) because they show the most useless methods but this chart is different than regular trading charts, it shows how much people trust bitcoin. The lesser people there are selling or looking to sell means there are more people who think it will go up, that is why I think it is quite important that we realize we are doing great right now.

I know we have gone up super high during a period where it looked like there was a selling pressure, so people may assume that selling pressure may not be important, but the reality is that if we increased a lot during a period of selling pressure that means we will be going up even more if there is none. This is why this chart is very important and should be taken seriously.

andthereyou

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Few weeks ago Bitcoin have reached all time high (approximately 61k us dollar). I think Bitcoin was already in bull. But we don't know what is the peak price and when will it happened.

LUCKMCFLY

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There is an indicator that shows according to Glassnode that the selling pressure of Bitcoin has decreased:

Quote

The red bars in the chart above reflect higher transactional volume from holders’ wallets than to those who let the cryptocurrency sit ideal in their wallets. On the other hand, a green bar shows that more people prefer to hold bitcoin instead of transferring them to other addresses.

“Selling pressure is decreasing,” the analyst ruled out after studying the pattern.

“Taken at the face value this chart means compared to a month ago more coins have been added to LTH UTXO than have left them. I’d say this is bullish,” he added.

Source: newsbtc.com/news/bitcoin/bitcoin-selling-pressure-is-declining-hints-key-glassnode-indicator/

In addition, this April 14, due to the exposure of Bitcoin on Wall Street, it is likely that we will see a possible uptrend, some say that it will be a day of great volatility and that it may fall in price, it is mere speculation, it exists in the market a strong institutional investment such as Mastercard, Visa, Bank of New York Mellon, Morgan Stanley, PayPal, Microestrategy, among others, this helps to have a better vision of Bitcoin, in addition to the great adoption by NFTs, which is currently In fashion, this trend may make a good impression and investors become more trust.

jaberwock

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Quote from: Oshosondy on April 07, 2021, 02:38:57 PM

This is not a certainty but a means bitcoin price can be predicted. Whales and many holders have sold bitcoin since February, the number of addreses holding 1000 bitcoin reduced by 10% till now, and data have revealed that whales have stopped selling because the numbers of addresses holding 1000 has not been decreasing unlike from February, also long-term bitcoin holders are no more selling like before, the rate of selling has slowed down. Miners have turned into accumulation again just like when such bull market was predicted last in March. Lastly what makes me think this can result to bull market is because institutions are still in high demand for bitcoin.

This is not the first prediction that I have been seeing this month, there have been many of them and even those of them that are very wild and predicting price that are not possible we are going to be reaching this year.

Institutions are steady buying, and to me institutional investments now seems like the normal thing because I don’t think these institutions are going to stop, we have achieved that level where institutions are now fully part of the cryptocurrency community/ market. Look at institutions like the Greyscale, we all know very well that they are now part of this community and they are going to be steady investing in Bitcoin for their clients, because that’s their business that they are into. Others won’t stop too.

hahay

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The price is still fluctuating so far but if it is said the price will still continue to rise then of course, the hikes will still occur but not in the near future to create a new ATH. It's been almost a month since the price still can't hit its ATH but it doesn't matter because market sentiment isn't always good. I'm just going to keep waiting because it looks like if the increase is going to continue we will see new ATH every quarter, the price gain from increasing an adoption is tremendous and it is happening.

Rafiqul

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After the correction of the price of Bitcoin, it crossed $60k again, although now it is fluctuating between $56K to $60K, there is not a big drop. The big reason for this is that different countries of the world, financial institutions, business organizations have already accepted Bitcoin. The number of Bitcoin users is increasing. So I believe that with a small correction, Bitcoin will go a long way, which could go up to $100k by the end of this year.

Kong Hey Pakboy

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Quote from: charlesmichel1 on April 09, 2021, 01:59:40 AM

I've read several predictions, there is a chance Bitcoin will go to $70k or even $100.
https://fortune.com/2021/03/17/the-ancient-mathematical-pattern-predicting-bitcoin-will-hit-70000/
https://www.nasdaq.com/articles/bitcoin-will-rise-above-%24100000-in-2021-2021-01-01

Is it 100 USD or 100K USD? I would add that when bitcoin gets in that price point, I am pretty sure that it will continue to grow until it reaches the 80k USD price point.

charlesmichel1

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I've read several predictions, there is a chance Bitcoin will go to $70k or even $100.
https://fortune.com/2021/03/17/the-ancient-mathematical-pattern-predicting-bitcoin-will-hit-70000/
https://www.nasdaq.com/articles/bitcoin-will-rise-above-%24100000-in-2021-2021-01-01

Argoo

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Quote from: Bilgent on April 08, 2021, 08:43:12 AM

After a correction on the price of Bitcoin, it started to increase again and has reached $57k now. Bitcoin is actually still in a bull market but we just don't see another ATH yet. Altcoin season is going on for now and it doesn't seem like Bitcoin will reach a new ATH very soon.

This is not the right analysis about bitcoin. Bitcoin is trying to break the resistance between 58-60K and very soon it will be able to break it. Once this resistance is broken we will see a massive rally towards 75K or even more. Altcoin season may pause for a while as this happen as bitcoin dominance will increase at that time too.

Yes, most likely it is. Bitcoin continues to consolidate and gain strength. The situation so far continues to be favorable for the growth of the cryptocurrency market and after a while bitcoin will be able to continue its price growth. However, I would not risk buying bitcoin at the current high price, even if it continues to rise in theory. Better to wait for its significant fall.

alex juhir

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We can see that Bitcoin prices are rise in the market a few days ago Bitcoin prices were low in the market and now it is seen that some people did not sell it because of the price of the coin in the market, their idea is that it will increase in the market and if it increases in the market, it will be seen that the investment is very high, so my idea that the price of Bitcoin will increase in the price of coins in the future

CryptopreneurBrainboss

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Quote from: iTradeChips on April 08, 2021, 05:56:46 PM

What I think is that many people are now expecting that Bitcoin price will go up again. But I am still expecting a great correction on Bitcoin that might happen sometime soon. Be ready with that because once the correction is over then it will be a good time to invest in Bitcoin again. Then we will wait again for the next bull. Don't buy during the high price period. Wait for the correction before you invest. That strategy always work.

Bitcoin has a unique way of surprising everyone, while we anticipate a correction, the market react differently. I'm pretty sure we all have been waiting for that correction since bitcoin cross the $20k trading value which is one of the reason many enthusiast didn't buy any bitcoin and had to settle for alts when the train for bitcoin left them behind.

The market sentiment is bullish and this trend will continue for a very long time. All the news coming in are bullish and so are the institutional investors buying bitcoin daily. They're already seeing something we aren't seeing yet and their involvement in the industry would definitely have a positive impact in the long term.

lalabotax

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It depends on soon how the bitcoin can break the resistance or not.
So far, the cycle will be always increasing after the down market. However, what is it bout now? Will BTC still continue increasing or it will keep there.
However, we may not be sure that commonly people are willing to sell their BTC because of panic buy. ANd away from it, we can see that Bitcoin probably will still have an increase. There are little bit differences. So far, I do believe that BTC can still increase before going to the next ATH again.

Ridwan Fauzi

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Simple put, bitcoin price is moving sideaway for at at least two months ago and until now the bull market still show the power. I mean, a day ago bitcoin fall from $58.000 to $56.000 just in one day but now as you can see the price movement just increase from $56.000 to $58.000 again this is mean there are so many entry point for choosing long entry at the lower price.

You may be right that most instutional investos are still holding their fund in bitcoin also this will make an interest to another instutional company to join and buy bitcoin for their investment place. Yeah, I still confident that bitcoin price is able to reach $100.000 even more at this year. I haven't seen a bull market like this time since four years ago.

iTradeChips

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What I think is that many people are now expecting that Bitcoin price will go up again. But I am still expecting a great correction on Bitcoin that might happen sometime soon. Be ready with that because once the correction is over then it will be a good time to invest in Bitcoin again. Then we will wait again for the next bull. Don't buy during the high price period. Wait for the correction before you invest. That strategy always work.

Myleschetty

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Quote from: aoluain on April 08, 2021, 10:23:18 AM

something else to bear in mind, the U.S TAX deadline has been pushed out to May 17th.

Extended deadline
On March 17, the Treasury Department and Internal Revenue Service announced that the due date for individuals filing federal income taxes for the 2020 tax year has been extended to May 17.

Source: https://www.google.com/amp/s/amp.usatoday.com/amp/4840997001

Would this mean a lot of people are selling now to pay taxes and that after
May 17th we will see a surge in buying for the start of a new TAX year.

Is this a realistic scenario which could fuel the next phase of this bull cycle?

I believe some investors are already selling their investment probably not to miss the opportunity of their current profit because no one know when the market bearish will happen and according to what I read a lot of US government official seems to be after taxpayer fund in crypto investment.

Quote

A federal court in the District of Massachusetts entered an order authorizing the IRS to serve a John Doe summons, seeking information about U.S. taxpayers who conducted at least $20,000 worth of transactions on the platform of Boston-headquartered digital currency exchanger Circle.

Rruchi man

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There has been a lot of predictions and speculations concerning bitcoin price now and what is expected. It is highly expected that btc price breaks and exceeds the the current range it is dancing around currently.(58k-60k). Price movement is currently very slow, maybe in the coming days or weeks a tweet or news from an influential individual or company may positively catalyze the price upward into the 60-70k range, but for now we can just keep our fingers crossed and expect the best.

(o)(o)ilikeboobs(o)(o)

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Quote from: pinggoki on April 08, 2021, 11:58:32 AM

Quote from: (o)(o)ilikeboobs(o)(o) on April 08, 2021, 10:39:25 AM

There are many reasons for Bitcoin to rise in price right now. Institutions, investment funds and banks have joined cryptocurrencies. Minner switched from selling the Bitcoins they mined to holding. The corrective waves are over and Bitcoin is bouncing quickly. I think Bitcoin's next target will be 70k and continue to move up to $ 100k by the end of the year.

That's right in which there are so many big companies and big people especially those famous people who invested in bitcoin and we can also conclude that these investments become one of the major factors why the bitcoin arise. Those big companies like PayPal and Tesla are investing and accepting bitcoin and it helps on the sudden surge of the bitcoin price in which it leads to bullish. Another thing is that the market correction in which it also affects the bullish of the bitcoin because whenever it is going down, the correction is still there.

A market that grows in suspicion is a market that grows steadily. Bitcoin and cryptocurrencies are now increasing their capitalization rapidly, every moment traders and holders always think about Bitcoin's ATH or any altcoin that has gone too high. Good news is constantly being generated. They consider selling their crypto to prepare for the downtrend. The truth is that Bitcoin is being skillfully collected through short-term bearish market bumps.

pinggoki

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Quote from: (o)(o)ilikeboobs(o)(o) on April 08, 2021, 10:39:25 AM

There are many reasons for Bitcoin to rise in price right now. Institutions, investment funds and banks have joined cryptocurrencies. Minner switched from selling the Bitcoins they mined to holding. The corrective waves are over and Bitcoin is bouncing quickly. I think Bitcoin's next target will be 70k and continue to move up to $ 100k by the end of the year.

That's right in which there are so many big companies and big people especially those famous people who invested in bitcoin and we can also conclude that these investments become one of the major factors why the bitcoin arise. Those big companies like PayPal and Tesla are investing and accepting bitcoin and it helps on the sudden surge of the bitcoin price in which it leads to bullish. Another thing is that the market correction in which it also affects the bullish of the bitcoin because whenever it is going down, the correction is still there.

Marvelman

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Quote from: Bilgent on April 08, 2021, 08:43:12 AM

After a correction on the price of Bitcoin, it started to increase again and has reached $57k now. Bitcoin is actually still in a bull market but we just don't see another ATH yet. Altcoin season is going on for now and it doesn't seem like Bitcoin will reach a new ATH very soon.

This is not the right analysis about bitcoin. Bitcoin is trying to break the resistance between 58-60K and very soon it will be able to break it. Once this resistance is broken we will see a massive rally towards 75K or even more. Altcoin season may pause for a while as this happen as bitcoin dominance will increase at that time too.

There are many people who think that bitcoin is the only way to reach their long term financial goals. They are buying the cryptocurrency in an attempt to avoid losing out on the gains of the first part of 2021. I can understand this thinking because the valuation of bitcoin has moved from $10k to $50k+. This is a fivefold increase!

When you decide to invest in a risky asset such as bitcoin, you might feel that it's too late. But the truth is that if you start now, there's a very good chance you'll still have a stake to sell when the price soars.

Gr8t

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Anyone can choose to sell it coin whenever he/she wishes, this it nobody business..

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