Whales or institutes do not stop their bitcoin buying - page 4.

btcsmlcmnr

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Quote from: Wind_FURY on December 26, 2020, 03:21:35 AM

Michael Saylor has an average for his Bitcoin accumulation priced at about $15,000. I believe that price is as close as the lowest low that we can "buy the dip, HODL". We won't see Bitcoin below that anymore.

People talked a lot about 30% correction and the $15,000 equals to 34% of fall from $26,000. It is close to 30% correction. Bitcoin dominates the market and its dominance reached 70%. I agree with you that the 30% correction is big and people are waiting for cheap bitcoin price will must feel very happy if the correction actually occurs. It won't happen every month and with the bullish investment sentiment from institutes and coming retailers, bitcoin will not retouch the price again (after any correction is close to $15,000).

Any big correction of bitcoin will create a massive change of capital and altcoins will see a capital switch from bitcoin.

ChrisPop

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Yeah, I think we're assisting at a full on accumulation phase. Taking into account the shallow liquidity and thin order, in other words the low supply and the high demand coming from institutions a rapid climb to $100k is not excluded.

Wondering what will happen nations will start buying for their reserves. Cheesy

wxa7115

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Quote from: TravelMug on December 25, 2020, 12:44:41 AM

Actually this is a good sign, very bullish since people and institution are taking out their bitcoin to exchanges like Coinbase because it's obvious that they are going to be a HODL.

And with Coinbase notoriously being down when the price of bitcoin is going up, I wouldn't surprised by this move. "Not your keys, not your coins", Be your own bank" attitude for experience investors here.

I like this, you never know when an exchange is going to be hit by the SEC with a lawsuit or a hack happens or one of the many scenarios in which you cannot withdraw your coins from exchanges, institutional investors seems like they are finally getting it, the advantages that bitcoin has over fiat and even gold cannot be underestimated.

And as government keep printing money thinking the economy and the people are going to keep taking it institutional investors are basically doing what they have always done which is to protect themselves with the best possible asset they have available and right now that asset is bitcoin.

Ratash

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Yes its good to hear that, its a positive action they took large investors buying big amounts of bitcoin and storing it in cold wallets mean that the circulating supply will drop and the demand on bitcoin will increase and with the drop in the number of sellers the prise will go up even more.

Altcoinsintel

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Perhaps the OTC market the grayscale BTC shares are traded should be counted in the total exchange inflow/outflows. I don't know the volumes it produces though and haven't seen the order books. The prices there are higher usually for unproven reasons yet. Maybe we should be adding these too, as it is trade and I'm not sure if this is called derivatives. The assets are in the custodial accounts and are not used in other way so it can't be derivatives.

Tstar

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Quote from: arrowlove on December 25, 2020, 12:28:03 AM

volume on major exchanges drop ALOT today. Curious what people think is the reason.....

https://nomics.com/exchanges/bitmex#highlights

Also you are right institutions are buying .......seems hodl s are selling though

https://blockcast.cc/news/what-you-should-know-about-bitcoins-growing-1000-club/

We all have families and now are holidays. For example, I'm not trading at all these days (2 days completely off), just lurking around for a few news or so while resting. I guess many other people are doing the same.
The volume will raise after another week or two in laziness.

Nhor1011

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Quote from: The Cryptovator on December 25, 2020, 10:15:21 AM

Although we can't say exactly if this bitcoin moved to a cold wallet, but this is a positive sign since the fund came from an exchange. Such as amount our from an exchange means the fund is storing in a safe place, most probably they would hold for a few time which would prevent bitcoin from a fall. All over the movement of whales and investors are pretty positive that pushing bitcoin uptrend.

Quote from: ?? on ??

Why would they stop if they continue to make a profit?

Who knows if they want to hold for a long time instead of trading. We don't know during trade they will lose or earn more. But a long hold would more profitable for them.

It's a good thing to know that whales are doing good for bitcoin market and don't let it fall. But I think they just hold back for a while because of holidays and to make sure that their bitcoin is in a safe place, that's why we should be observant to the bitcoin market because we don't know anytime soon bitcoin will suddenly drop.

Akiko

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Quote from: jrrsparkles on December 26, 2020, 09:10:06 AM

You can't consider the moved amount is bought by the whale, just take a look at the price difference in the day you are analyzing clearly there is huge spike in the price per unit as well so why you don't consider this as people buying it instead of whales.

It's an obvious bulk buying so it's really a whales buying Bitcoin in that price you can even see it in trade history of different exchange not an ordinary person can buy 200 -500 Bitcoin in a single buy . The only question is how many whales is actually buying it, they will take it as advantage to sell it in higher price so they will continue doing that until they are satisfied in the price. I don't say that there is no small buyers but I just want to point out that there are whales continue buying it in bulk.

jrrsparkles

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You can't consider the moved amount is bought by the whale, just take a look at the price difference in the day you are analyzing clearly there is huge spike in the price per unit as well so why you don't consider this as people buying it instead of whales.

Leviathan.007

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This is actually a very good sign to see bitcoin whales still buying bitcoin even with the current price. If you read their mind, you will see they are buy at current price because they think bitcoin will see higher price levels soon and they right because even the covid pandemic and economic crisis couldn't make the price stop reaching higher levels. So, there is currently not any negative fundamental new to act like resistance and make the price to fall. If you are a holder, just hodl and enjoy.

CryptopreneurBrainboss

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Quote from: Wexnident on December 26, 2020, 03:05:31 AM

Additionally, I hardly doubt it would move the market that much since it technically is just a transfer of funds and not really a buy and sell trade by institutes.

One transfer might not have any impact on the market but if this trends continue and it can be proven that they're institutional inventors moving funds off exchanges to secure wallet like cold/hardware wallet then it'll definitely have an impact since such development points toward a bullish trend for bitcoin as the supply of coins in circulation and demand is constantly increasing.

The incident been discussed here can't be verified although most likely its a transfer from one of the institution currently picking interested in bitcoin imo. Unless they make a public announcement our discussion and assumption won't come to an end so instead of debating on an issue we have no idea about let just end the discussion.

The most important thing here is, this is definitely a bullish movement, as a whale in person of an investor or institution is moving his, her or their bitcoin into a more secured storage.

Wind_FURY

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Quote from: kentrolla on December 25, 2020, 09:26:09 PM

This is my biggest worry whales don't miss any opportunity also they are the one who are very scary for BTC community, right now lot of big companies are pouring money so logically they won't invest at this time if the price drops at a certain stage whales will disaster the market as panic sell will be extremely high. Either institution or whales they are the strong contenders in BTCs pump and dump.

OR, they protect their investment by placing large bids, and buy walls. Michael Saylor has an average for his Bitcoin accumulation priced at about $15,000. I believe that price is as close as the lowest low that we can "buy the dip, HODL". We won't see Bitcoin below that anymore.

Wexnident

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It isn't exactly odd that institutes are moving out their funds out of exchanges since most institutes/companies are using Bitcoin both as an investment and as a safe asset. Exchanges are in the end, only their means to an end to get Bitcoin. Additionally, I hardly doubt it would move the market that much since it technically is just a transfer of funds and not really a buy and sell trade by institutes. As for any changes when they sell it, well, it depends on the market. When they bought it, it didn't really have that much movement imo, and even without them, I think the market would've still continued on towards the current state it is right now.

Reatim

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Quote from: btcsmlcmnr on December 24, 2020, 09:43:01 PM

More than 12.2k BTC moved out of Coinbase to cold wallets (likely) and that is a very good support for bitcoin bull market. Overall, the fall of reserve on crypto exchanges stop its fall as whales began to deposit and maybe they take profit but as outflow chart shows there are more investment from whales, institutes. They are very bullish in bitcoin as they withdrawn and stored their bitcoin in likely cold wallets, not in custody wallets on exchanges.

They don't want to lose their bitcoin from any exchange compromise or government lawsuits and don't have plan to take profit too soon.

https://twitter.com/ki_young_ju/status/1341688251195609089
https://twitter.com/ki_young_ju/status/1342050669746913280

and they want assurance to Hold ,This is one good move so if there are more Holders who will do the same then meaning that the Bitcoin supporters are ready for the Next year and won't use their Bitcoin to trade again.

Well if we can only check most of small holders ?sure they are doing the same thing as mine ,after selling all my XRP ,i move them all to Bitcoin and a Bit for Ethereum.

Don't care about the correction because Holding leaves me no stress and no time spending ,i can make use of my time enjoying the Holiday not like when my coins is still in Exchange.

kentrolla

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This is my biggest worry whales don't miss any opportunity also they are the one who are very scary for BTC community, right now lot of big companies are pouring money so logically they won't invest at this time if the price drops at a certain stage whales will disaster the market as panic sell will be extremely high. Either institution or whales they are the strong contenders in BTCs pump and dump.

verita1

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Also in these tweets the author Ki Young Ju mentions about:

Quote

"And Grayscale bought 12,000 BTC on 22nd.

It might be a coincidence but looks interesting.

Source: @bybt_com
https://twitter.com/ki_young_ju/status/1341733000481034240?s=19

Lately my mind is coming up that any investor in Grayscale is buying Bitcoin.

aesma

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It's just me putting my coins in cold storage for the holidays, don't mind it.

Just kidding.

I also think it's partly because of Christmas, at least the quietness.

Also, for people wanting to cash some fiat in, doing it at the end of the year means you will pay taxes on capital gains, so some planning is needed, by now it must be done, no need to keep coins on an exchange.

ololajulo

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Quote from: davis196 on December 25, 2020, 02:11:03 AM

Quote from: arrowlove on December 25, 2020, 12:28:03 AM

volume on major exchanges drop ALOT today. Curious what people think is the reason.....

https://nomics.com/exchanges/bitmex#highlights

Also you are right institutions are buying .......seems hodl s are selling though

https://blockcast.cc/news/what-you-should-know-about-bitcoins-growing-1000-club/

It's Christmas so most of the traders probably aren't active.They won't be that active during the holidays,I guess.
Anyways,moving more BTC to cold wallets is a good sign,unless the US government decides to ban cold wallets(or creates some kind of KYC for cold wallet owners),which is very unlikely to happen.
I'm not sure about Coinbase letting lots of people and companies buy BTC using their platforms and moving that BTC outside the Coinbase wallets.I assume that Coinbase makes money from the buying fees,but they are greedy,so they might impose new rules to force their users to keep more BTC inside their Coinbase wallets.

The opinion formed of a quiet market seem not to be the same, Bitcoin made a new ATH today, when I compare the most part of the year, nothing looks different from the present holiday, this is internet, things cant be too quiet because of holiday any more. What is Coinbase etc benefit from restricting withdrawal after they got their transaction fee?

hatshepsut93

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Quote from: btcsmlcmnr on December 24, 2020, 09:43:01 PM

They don't want to lose their bitcoin from any exchange compromise or government lawsuits and don't have plan to take profit too soon.

How can you say that they don't plan to take profits anytime soon with certainty, if all you have is just a fact that they withdraw their coins to their wallets. Cold wallet doesn't mean that it's hard to access, even with self-made setup it takes 10 minutes to transfer coins. Different traders have different levels of greed, some are satisfied with 20% profits or 50% profits, which is why corrections occur - someone exits because they already got enough profits. Bull market is not only about hodlers refusing to sell, you also need new buyers.

The Cryptovator

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Although we can't say exactly if this bitcoin moved to a cold wallet, but this is a positive sign since the fund came from an exchange. Such as amount our from an exchange means the fund is storing in a safe place, most probably they would hold for a few time which would prevent bitcoin from a fall. All over the movement of whales and investors are pretty positive that pushing bitcoin uptrend.

Quote from: ?? on ??

Why would they stop if they continue to make a profit?

Who knows if they want to hold for a long time instead of trading. We don't know during trade they will lose or earn more. But a long hold would more profitable for them.

Topic: Whales or institutes do not stop their bitcoin buying - page 4. (Read 1152 times)