Quote from: adaseb on Today at 05:18:31 AM

Quote from: Yaunfitda on January 27, 2021, 07:33:35 PM

And we have witnessed another downtrend in the last 6 hours, $30k and possible even lower if the trend continues. So the chance for bitcoin to hit $40k is over guys, we should look ahead next month if we can breach or surpass it again.

Seems to me that we might enter a bearish phase, although I'm very much very bullish, and it seems that the inflow of cash has suddenly slow down a bit and there are players who want the price to this level it seems.

But did you see how quickly we rallied away from $30K. If you were watching the markets and looked at Coinbase, it was leading price by $200-$400 during certain points. Basically right before we dipped to $30K and rallied away from again. So I am thinking some other fund has invested in BTC below $30K.

This is very common since many use Coinbase for custody and usually when Coinbase has a huge premium compared to other bitcoin markets usually there is large outflow and a few days later some fund announces that they invested in BTC. Who knows maybe it is Gamespot buying Bitcoin with its cash reserves, or better yet, Tesla.

We also can't say "chance for 40k is over" neither, because it is bitcoin, by Monday we could be 20k or 40k and both are quite possible when you look at the market. Why do I think 20k is possible? Because we were at 40k and slowly but surely we have gone down, we have reached 30-31k levels and people are still optimistic but there could still be some people who want to get out and if they could manage to bring it down under 30k and keep it there for just 24 hours the price could very well crash to 20k very quickly as a response.

Why do I think 40k is possible? We were already there not so long ago, literally inside this month, and we have gone down in a correction and whenever price goes down we keep buying back up and those huge wall street companies like grayscale keeps buying constantly which creates a great buy pressure that helps the price stay up and could lead to a big increase. Both are quite possible as you can see.