I just saw in the news that as bitcoin approaches the $70,000 mark, both new and old whales are piling up their bitcoin like we saw between July 2020 and January 2021, when the price shot up by 550%.
According to the reports, this could mean a bull run is on the horizon and we might just be at the start of it. What’s your take? I personally think history might just repeat itself.
I think you wrote on the wrong board. Mistake?
Now, if you talk about the bull run, I guess we are at the pre-bull run phase already. Since Bitcoin dominance is still high, Altcoins did not pump. We need to keep the uptrend momentum for a while to enter the bull market. But as you can see, the market is getting affected by every other news, and the market makers are playing with that. If we accumulate 10K in a month, a single-week dip can take that away. I am ready to wait more than a year to enter the full bull run. The next six months are crucial, though.
Will it not be best to post this in Bitcoin Discussion instead of the service board?
My simply opinion is that whenever the whales are buying, the best we can do is to follow them and not go against them. So we can as well be buying aggressively as they are doing because the signs are getting clearer than a bull run is upon us. If from this point price gets to 100k, then the current price region of 69k will serve a strong support.
You can move this to the speculation board.
To answer your question, the bull run is already starting, we just need that final push to confirm it--breaking Bitcoins current ATH. Once that happens, well see a true bull run. As for predicting the new ATH, its hard to pinpoint where itll peak, but of course, we can hope for $100k or more. History shows that what seems impossible before the bull run becomes much more achievable in a bull run.
I also see the green light on the market will not see the price hike up to 500% as it happened in 2020-2021, but we might like to see bitcoin push to $80k+ if it reaches $75k nonstop without dropping below $70k in the month of October, then the November pump is certain before we will start experiencing a little price correction by December.
I believe it could be a mistake made by the Op; the speculation section of the forum will be best for this content.
I have always remain bullish on bitcoin since the beginning of the year 2024, because even if bitcoin dropped in price within this time frame, it doesn't remain at that price for long before recovering back again this is very important to take note of and the reason why we can expect any price upward any time within this bitcoin fiscal year.
We should note also that, bitcoin already have been in a bull state for quite sometime now, and bitcoin have hard it all time high price also, and the likelihood that we see another new all time high bitcoin price is still very much possible.
I made a mistake. I wanted to post it on bitcoin speculation board but I mistakenly posted it on service board. The right board for it is not bitcoin discussion board but bitcoin speculation board and I have moved it there. But thanks for letting me know, it makes me know that I posted it on the wrong board.
Buying now puts them in a good position to make profit when the price goes high next year. And they might keep accumulating all through this year, which will keep the market green till the end of the year. I believe the price will not go lower than $60k again; it might hover around $60k and above until it gets to ATH, maybe by early next year.
This is the link or the website that reported this news.
https://cointelegraph.com/news/bitcoin-whales-current-accumulation-trend-emulates-2020-2021-s-550-rally
This year's bull season started earlier due to the high publicity given to the approval of the ETF in the US. After the hype died down, the market stabilized. I guess Bitcoin is now maintaining its normal trend, so we can rely on the historical market movement to make predictions.
I believe there will be a price spike. But the spike repeats history as you said, it will be a huge spike.
Let's say the price at the beginning of this year was around $45k. If the increase in the upcoming bull run is the same as you said 550%, it can definitely break above $200k.
I think that's something amazing, but we want to try to see $100k first which will be the new history of Bitcoin price achievement.
This time not only whales are accumulating Bitcoin, but the retails also accumulating Bitcoin because they're want to multiply their money, even Average Joe know Bitcoin bullish after one year from super cycle and bearish in the next year.
Just like people that react when Elon Musk tweeting Bitcoin, even though it's actually has zero impact to be honest.
It is no surprise if new and old whales accumulating Bitcoin more than the other investor. They think that the price now is still cheap so they don't want to miss this chance. That can trigger the bull run to appear in the market and when that is happen, many more people will amaze and start to invest in Bitcoin.
But they are late because the price is already increase. If they want to accumulate more Bitcoin, they must do now before the price increase more. Yes, I also think that the history can repeat itself soon. We can only prepare our Bitcoin by following the whales accumulating more Bitcoin.
Not only whales, but all the smart people are accumulating Bitcoins. They know the capabilities of the coin, and hence are in full acceleration mode. The sign of a bull market is true. As we know, Bitcoins are limited in number, and now the demand to buy the coin is going up. When the demand goes up, the price also goes up due to the fixed supply of coins. So yes, something big is coming. The people who are doing DCAing will be the most profitable people right now.
I don't know much about history repeating itself in accordance to July 2020, but I feel accumulating aggressively in large sum has always been the nature of whales wallets, so if there are speculation of a possible bull run with regards to how whales wallets have been accumulating then I will take that with a pinch of salt, as accumulating that much is a normal thing to them regardless if there is a bull run by the corner or not.
If there is a bull run coming up anything time soon, then its a good a thing, however I feel the news agency are just being speculative looking at the staggering figures the whales wallets are accumulating.
For newbies who may stumble on this thread and may not know what to do during the bull run, here are some ideas. First is the DCA which stands for Dollar Cost Average. Investing a fixed amount according to your capacity at a set interval. You may choose to invest $50 dollars in bitcoin weekly or $100 weekly, that kind of thing. And which ever amount you choose, be disciplined enough to stick with it. Do not be distracted by other bitcoiners who will be taking profit at this time, remember they have seen more bullruns and because they were disciplined enough they are now going to take profit but this is not you. Stick to your plan. Secondly, it has been said, please do not use any leverage, it does not show good risk management.
Surely history will repeat itself - believe in it.
The pope collects bitcoins different from us they have a lot of bitcoins when bought in his accumulation so when there is an increase then it is an expectation but the pope can hold longer even though profits are in sight.
It should follow in the footsteps of the pope how to buy it, but it will be a little different what we do.
Maybe the whales will dump their goods during the bullrun.
Yeah I first comment on this thread while it was in the service section unknowingly a, only a few seconds after that I saw this thread have been moved to speculation board which is the right board, the fact is that, bitcoin speculations is somewhat hard to do and for that whales believes in just one thing which is accumulation of more bitcoin at any discounted price, which will put them in the best position to make profits.
The charts certainly confused people about what the market would do as it seemed very overbought since the price touched $73k. It dips back to $49k but that was just it and most probably those whales are also waiting for the price to dip back closer to that price again. Yet if this uptrend is going to leave them behind, they gotta buy back right now.
The price has stayed up since last month so it must be a bull run again. Or we can wait for what will happen next.
Between mtgox and Germany dumping a ton of Bitcoin on the market, I would say that everyone is accumulating Bitcoin heavily right now. Without massive buying we could have easily seen the price dip into the 20s, as the selling volume was there. Blackrock and other entities have been buying heavily at levels I think most people aren't aware of or are in denial of. The coming Bitcoin boom is really going to shock people. With Blackrock on board now, you know their profits will be explosive. They don't get involved if they don't have a plan to make a ridiculous amount of money. We're going to see that plan play out in the next 12 months.
This is just the initial phase of the bullrun, approaching $70K is an indication that investors think history is likely to repeat itself.
The whales have a unique way of accumulating their bitcoins, as we know they could be manipulating the market but that is not entirely true where the whales want to make big profits so they know when to buy in preparation for the bullrun.
We will enter where the market leads to a positive trend.
This is like what happened in the previous cycle, the biggest catalyst at this time will occur in November because the US election will occur, those popes are aware that there will be a big thing happening again with bitcoin, they collect bitcoin right close to this election shows that some popes will also bet their money to increase the price on bitcoin before and after this US election, then some positive things from CPI data, US unemployment index data decreased, inflation decreased it makes optimistic space for future bitcoin movements, there is always a reason why the popes take their position.