Quote from: coinbiz on Today at 06:24:10 AM

If $30k doesn't hold, this run is over. That's not to say there won't be bounces.

But I've been watching transactions and seeing a lot of money moving from cold wallets to exchanges over the past few days. There's also been articles about this. People taking profits.

I predict we'll settle in the mid-$20k range, then up again, then down again. There's also regulations coming in the next few weeks. UK buying ban in effect tomorrow, etc.

And the problem with institutional investors is - while buying is wonderful, selling is not. MicroStrategy bought their $1.6B worth of coins at an average of $21k/bitcoin. If the price drops below that, I'd imagine their investors would be clamoring for answers, and may force a large sale to cut losses. That sort of event could be what sets of a bear market for sure.

This really isn't a worry at all. I'm not sure how you are reading the market like this, but your reading of things doesn't really make sense.

This bull run is just getting started. No risk of it suddenly ending. Institutional investors are not getting tired of buying, they are clamoring to get into Bitcoin.

Microstrategy CEO has already said BTC is his company's reserve now, as in, he is not ever selling - the only sell event would be to spend the money - it is simply how they hold their money now instead of in cash. Also they averaged $16,000-something per BTC, not $21k, and bought about $1.12B worth of coins, just to correct you there.

As far as the UK buying ban...I hadn't heard about it. But I just looked it up and it's got nothing to do with buying cryptos. It's a buying ban on crypto derivatives for retail investors. So anyone can still buy Bitcoin (or any crypto), but only rich people can buy stuff like futures contracts and ETNs and options and all that stuff that doesn't actually involve buying Bitcoin haha. So this is a non-event.

The near future for the price of BTC is HEAVILY weighted toward the upside. We might get ranging or even more correction this month, but in February $30,000 will likely seem very cheap. Basically, this is the last chance to get ~$30k Bitcoin before it goes higher. The institutional buying supply shock on the market continues and the price can only be held down at $30k for so long before it bursts upwards again. By end of January we will very likely leave this level forever. Also Grayscale should start buying again late January i believe, so that's a few hundred million dollars in weekly Bitcoin buys that will be hitting the market again, at which point any possible correction or consolidation will quickly be overcome.