Who is buying at $27000?

[Sykkuno 2887]

Bitcoin is breaking into new ATH every day. It is $27700 at the time of writing this post and while most of the crypto world is in euphoria, I think it is a perfect time to give a warning. I don't give financial advice but what is happening now, it is some funds that we don't know where they come from, are buying big into Bitcoin.

They didn't buy at $4000 or at $10,000 but decided to buy Bitcoin at these prices.

We read about Paypal and a few companies buying, but they bought lower at $10,000 and other companies at prices bellow $20,000, but who and why is buying Bitcoin at $27,000 and higher?

I have read a few articles in previous days talking about something else except institutions, the governments.

They always buy from private investors at inflated prices and in the end make a mess in their economies.

There are some governments that could have bought way lower but decided to buy at almost ten times higher. 

Venezuela is a country that used cryptocurrencies as a government to trade with partners and bypass sanctions. It could be a few more doing the same. 

Edited December 31, 2020 by Sykkuno

[zhoutong 2188]

So perhaps it is Maduro, or Putin, or it could be other governments that don't want to be left behind and one after another decide now 10 years later to invest in the top digital currency. I don't know why they didn't invest one million dollars five or eight years earlier, it wasn't going to make a difference and they invest now when it is 28,000 dollars.

[Whited35 15285]

4 hours ago, Sykkuno said:

We read about Paypal and a few companies buying, but they bought lower at $10,000 and other companies at prices bellow $20,000, but who and why is buying Bitcoin at $27,000 and higher?

I have read a few articles in previous days talking about something else except institutions. There is always smart money and there is dump money too.

No one know the exact answers actually who were there to invest a huge amounts in Bitcoin. Massive pumps are noticed and Bitcoin is approaching towards $30K mark. Investors who have invested at $27000 should also be prepare to face another upcoming dump because sudden raise in price of Bitcoin could also signify the dump. 

[Sharif4847 277]

In order to take advantage of the way the price of Bitcoin is rising now, it would be better to hold it without selling it now.  The price of Bitcoin has doubled now compared to the past and the way the bull run is going this price will soon be $ 30,000.  Now you can trade if you want and if you keep stocks for more profit, it seems that the benefits will be more.

[Dormilon 2183]

5 hours ago, Sykkuno said:

too.

The dumb money are always the governments. They always buy from private investors at inflated prices and in the end make a mess in their economies.

There are some governments that could have bought way lower but decided to buy at almost ten times higher. 

Venezuela is a country that used cryptocurrencies as a government to trade with partners and bypass sanctions. It could be a few more doing the same. 

@Sykkuno The essence of the forum is not to be a source of financing for studies or other things, but to obtain knowledge regarding cryptocurrencies, the payment they make is for an incentive to work, that can change at any time, so you have to concentrate on make the account grow and place it at a level of excellence, because later with the signature agreements that can be made in the future you can earn money with them, do not expect that you can pay for your studies with what you pay in the forum for what that you publish because it will not be like that, learn, teach and earn, your account in a good level and you will see the results in the future, Welcome to Cryptotalk.

[progma 326]

even though bitcoin is breaking its ATH thee are still going to be eager investors who won't want to miss the rise on the value of bitcoin, s we have see this microstrategy firm who bought 100 million worth of bitcoin, as this shows its the investors are still well aware on the state of the value of bitcoin

[rekter 8129]

7 hours ago, Sykkuno said:

---

The dumb money are always the governments.

---

What are you basing this on? Imho we haven't even started the parabolic curve and dumb money comes later in this cycle. But why couldn't dumb money come from private investors? IMHO we have corporate money flowing in right now.

Edited December 27, 2020 by rekter

[Kami505030 1617]

It would be risky decision for those who buy Bitcoin at this price. May be it dump again to 24,000$ and then it would be best idea to buy then. 

I will suggest other crypto currencies which are also good at the current time, TWT, XRP, GRT, REL and LTC.

[Amr90 1064]

I am one of the people who bought at the $ 26,000 levels,
But I bought with the aim of fast trading and the amount was small, its value was not high,
It may be difficult to buy bitcoin at these levels, not knowing what will happen after reaching a historic high.

[Khan 1414]

Its very costly for the investors as only few(big Whales) will be able to invest and earn from the Bitcoin because buying at $27k means a great risk of investing.

[cryptovlek 2597]

I adviced many people to buy earlier this year for a long time. What I stopped doing is advice to invest after it went above $ 25000. I don't know if someone is buying massive numbers in Bitcoin and if they will buy at any price, I have some questions too about who in their right mind will buy at this price but it is probably going to be a very long rekt if price drops back to $ 15000 or lower.

[Sykkuno 2887]

20 hours ago, rekter said:

What are you basing this on? Imho we haven't even started the parabolic curve and dumb money comes later in this cycle. But why couldn't dumb money come from private investors? IMHO we have corporate money flowing in right now.

I given my explanation in the whole post. Governments are proven to be the dumbest money, pension fund managers and other public funds are in most countries part of the debt problem with the huge mistakes they make when gambling with markets they don't understand.

This is not parabolic?

 

Edited December 28, 2020 by Sykkuno

[Brushless4500KV 4214]

Me! I bought bitcoin at $27.170 recently in Yobit because with the current rush of purchases, I believe it will soon hit $29000 or even more. This is my personal opinion. Don't consider it as a technical analysis or prediction. Do it your own way and if you think bitcoin will not go higher than that, don't buy until it crashes a bit. Swing and day traders have no other choices. They have to buy at any rate. Holders will get bored soon because prices don't want to fall anytime soon! Maybe in the next year!

[rekter 8129]

3 hours ago, Sykkuno said:

I given my explanation in the whole post. Governments are proven to be the dumbest money, pension fund managers and other public funds are in most countries part of the debt problem with the huge mistakes they make when gambling with markets they don't understand.

This is not parabolic?

 

Last time in 2017 btc rised something like 2500% in a year, compared to that, we have just started, so, no, i don't see 2018 like crash happening any time soon and i see that as a start of parabolic chart, far from a major crash. And i have no reason to believe that this bull cycle would be any shorter.

 

Edited December 28, 2020 by rekter
typo

[annayks 2314]

I wonder sometimes who bought at this price too, but then again what is my main problem is what will happen if those that bought in the summer like Microstrategy or all those banks like Jpmorgan start selling what will happen?

I don't trust Michael Saylor at all for what he is saying and he could easily dump one day and tell everyone that Bitcoin price went too high and that exchanges have turned this into a casino. Just like he did in 2013. You have to trust some things we see that are positive but not banks and not any speculators like this guy.

[yonkii 3205]

I am still buying, although not as much as I was buying in the summer but what I can save, I buy some in Bitcoin. I bought in $10k, $20k and plan to buy in the start of the year again after saving some more cash.

But I see your point, it is a price that many think a correction should take place and instead there is some massive buyers that move the price into new all time high every day.

I don't know if it is a government or many governments buying but I don't approve the regulations proposed to include KYC in all wallets and the restrictions that are planned. I hope there will be a future with limited regulations that will allow financial innovation to flourish and not something that will be similar to banning crypto.

[Farukatie 1271]

On 12/27/2020 at 1:23 PM, Sykkuno said:

Bitcoin is breaking into new ATH every day. It is $27700 at the time of writing this post and while most of the crypto world is in euphoria, I think it is a perfect time to give a warning. I don't give financial advice but what is happening now, it is some funds that we don't know where they come from, are buying big into Bitcoin.

They didn't buy at $4000 or at $10,000 but decided to buy Bitcoin at these prices.

We read about Paypal and a few companies buying, but they bought lower at $10,000 and other companies at prices bellow $20,000, but who and why is buying Bitcoin at $27,000 and higher?

I have read a few articles in previous days talking about something else except institutions. There is always smart money and there is dump money too.

The dumb money are always the governments. They always buy from private investors at inflated prices and in the end make a mess in their economies.

There are some governments that could have bought way lower but decided to buy at almost ten times higher. 

Venezuela is a country that used cryptocurrencies as a government to trade with partners and bypass sanctions. It could be a few more doing the same. 

Dear friend i am really shocked to see the price of bitcoin nowadays. It has become at a highest level and crossed $28000. I want to know that who would have to buy it now. Because in the upcoming years its price will goes double.

[Syedbesharat 5423]

The adoption of BTC from institutes have give the boost to the price after when price touched the $20ak again institute make a move and then comes the whales puch it even more higher. But their are many people or private investors who are buying BTC at $28K now. They believe it will not gonna fall for the time and the price would go even farther.The second could be new adopter of crypto who just joined now and having first time bull run. The third one could be government buying through someone else to make from BTC. But seriously those who buys now must have know more then we do. 

[Sykkuno 2887]

So @rekter what you are saying is about a year later that many think it will end to $200k. What I say is who is buying now at $27000. Are you buying? Retail is not by the way. Some twitter accounts that say it was retail it is because it fits their narrative.

What Bitcoin will do is a huge correction that will be at least 30% as it usually does. I understand you may be around for years so you know this will happen. I didn't discuss what will happen in a year from now, for this I am still bullish but I don't think that Bitcoin will keep rising like that for a month later. If it does it will mean 100k in just a couple of months and I don't think this is possible or rational even for Bitcoin. I expect a correction down to 20k and lower. Also, I give a small chance that the bull run will end now and even less chance that Bitcoin will reach 100k by the end of 2021.Both can happen but they are equally improbable. What I see is Bitcoin reaching very lower than any of these estimates. Perhaps $40k and that is just that.

[jnbezchess 1066]

I have enough money and i don't need it in the next year .of curse i will buy at 30000 $ even ,cause i believe the bitcoin 's price will go up to 100000 $ in 2021.

[rekter 8129]

19 minutes ago, Sykkuno said:

So @rekter what you are saying is about a year later that many think it will end to $200k. What I say is who is buying now at $27000. Are you buying? Retail is not by the way. Some twitter accounts that say it was retail it is because it fits their narrative.

What Bitcoin will do is a huge correction that will be at least 30% as it usually does. I understand you may be around for years so you know this will happen. I didn't discuss what will happen in a year from now, for this I am still bullish but I don't think that Bitcoin will keep rising like that for a month later. If it does it will mean 100k in just a couple of months and I don't think this is possible or rational even for Bitcoin. I expect a correction down to 20k and lower. Also, I give a small chance that the bull run will end now and even less chance that Bitcoin will reach 100k by the end of 2021.Both can happen but they are equally improbable. What I see is Bitcoin reaching very lower than any of these estimates. Perhaps $40k and that is just that.

I have mostly done my buying already but i occasionally buy dips when i am trading but i wouldn't have any problem storing my monthly salary in btc right now except maybe to avoid the difficulties in taxation.

 

Rational approach doesn't need to be conservative when it comes to bitcoin, this is an asset unlike any other before and i could see it passing gold marketcap easily later on. And because it has that potential, it also has these fast irrational looking volatile pumps. People are just speculating that this is merely a start so they will buy in any price. I could see even above 300k before the end of this bull run. I know that sounds insane and it's far from financial advice, but like i said, we have nothing to compare it to expect maybe to history of the chart.

 

But i don't know any TA pattern that would predict it falling under 20k now but who knows, maybe i am just not paying attention to something... IMHO next resistance lines are going to be either round numbers or fibonacci lines and i am not even looking at dips in btc. I am only looking for bottoms in some alt btc pairs.

[kyoukage01 3181]

7 hours ago, Syedbesharat said:

The adoption of BTC from institutes have give the boost to the price after when price touched the $20ak again institute make a move and then comes the whales puch it even more higher. But their are many people or private investors who are buying BTC at $28K now. They believe it will not gonna fall for the time and the price would go even farther.The second could be new adopter of crypto who just joined now and having first time bull run. The third one could be government buying through someone else to make from BTC. But seriously those who buys now must have know more then we do. 

Don't forget that BTCs can also be used for quick transactions for sending money to other parts of the globe, so some people are buying BTC for that purpose. Well, not BTC itself for transactions, but it can still be converted to other altcoins for cheaper transaction fees. This helps raise BTC trading volume and its price in turn.

 

... ... ...

 

The jump of BTC price from ~$10,000 back in September to ~$20,000 this month is already a huge accomplishment. Honestly I was expecting a price correction that time, but BTC now nearing the $30,000 has clearly exceeded my expectations.

 

And yes, people may be smarter now compared to 2017 back then. It is only a matter of when a major correction will finally happen, how much BTC will fall at that time, and what everyone who bought BTC that expensive will do about it. Whoever are those guys buying BTC now probably knows what they are doing, they already know what happened during 2017. So let them do what they want.

 

Edited December 29, 2020 by kyoukage01

[abohasnn9 2401]

My friend, for me, I actually bought bitcoin with a purchase amount of $ 27,161 because I believe that Bitcoin will not decline below this value, as it is on a continuous rise, so I recommend buying, as Bitcoin will rise to 30,000 dollars, said at the end of this year Thank you

[sinseoul 0]

A lot of people are going to buy Bitcoin at that price point because there are people that are willing to buy Bitcoin at a higher price. That is also the reason why Bitcoin's price is going much higher, because people are willing to buy it even at an expensive price.

[Mir Hamza 2888]

The price of bitcoin has already touched $ 28000 and now the price of one bitcoin is about $ 27000. The price of bitcoin has increased to such an extent that it is hardly a purchase now. Many people are now selling bitcoins and getting benefits from here. And hardly any big investor still invests in bitcoin. Because the price of bitcoin has increased to a great extent and now it is difficult to buy Now we have to have a huge capital to buy bitcoin.