{"id":115473,"date":"2020-11-19T15:25:00","date_gmt":"2020-11-19T12:25:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/not-just-wall-street-quant-trader-explains-why-bitcoin-price-is-going-up\/"},"modified":"2020-11-19T15:25:00","modified_gmt":"2020-11-19T12:25:00","slug":"not-just-wall-street-quant-trader-explains-why-bitcoin-price-is-going-up","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/not-just-wall-street-quant-trader-explains-why-bitcoin-price-is-going-up\/","title":{"rendered":"# Not just Wall Street: Quant trader explains why Bitcoin price is going up"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a283ec1206c0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a283ec1206c0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/not-just-wall-street-quant-trader-explains-why-bitcoin-price-is-going-up\/#Overall_accumulation_and_adoption_are_increasing\" >Overall accumulation and adoption are increasing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/not-just-wall-street-quant-trader-explains-why-bitcoin-price-is-going-up\/#Macro_influence_could_be_favoring_Bitcoin_too\" >Macro influence could be favoring Bitcoin too<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Not just Wall Street: Quant trader explains why Bitcoin price is going up  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Sam Trabucco, a quantitative trader at Alameda Research, believes four <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> factors are pushing up the price of Bitcoin (BTC).\u00a0<\/p>\n<p>The catalysts are increasing adoption, whales, inflows from other products into Bitcoin, and influence from other markets. <\/p>\n<p>Alameda Research is a major cryptocurrency firm that trades a variety of cryptocurrencies and derivatives, with a volume between $600 million and $1.5 billion a day.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/64f4fba2-bab2-40c6-8253-b58139a6f227.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>The weekly price chart of Bitcoin. Source: TradingView.com<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Overall_accumulation_and_adoption_are_increasing\"><\/span>Overall accumulation and adoption are increasing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Throughout the past month, Cointelegraph has continued to report\u00a0on the trend of whale accumulation.<\/p>\n<p>Whale clusters form when whales buy Bitcoin and do not im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely sell. This typically indicates that whales bought BTC, sent them to their personal wallets, and have not moved their funds.<\/p>\n<p>The accumulation of Bitcoin from whales possibly synergized with a profit-taking pullback in the altcoin market. Notably, when the decentralized finance market pulled back, Bitcoin continuously saw a significant rally.<\/p>\n<p>Based on various trends and data points, Trabucco said the four abovementioned factors likely contributed to the Bitcoin rally over the past months. He <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/AlamedaTrabucco\/status\/1329154541858656256?s=20\">wrote<\/a>:<\/p>\n<blockquote><p>\u201cSo, first off, why \u2018up\u2019? There\u2019s been a lot of discourse about this \u2014 some reasons for BTC to go up I\u2019ve seen postulated include lots of institutional buying, increased adoption, \u2018whales,\u2019 outflows from faddish products back into BTC, influence from other markets, etc.\u201d<\/p><\/blockquote>\n<p>Atop these factors, Cointelegraph reported that the Bitcoin exchange reserves are also declining at a rapid rate. <\/p>\n<p>Bitcoin exchange reserves drop when investors increasingly pull their funds out of exchanges. Since investors often deposit cryptocurrencies to exchanges to sell, this trend suggests that there are fewer sellers in the market and a smaller available supply of BTC. <\/p>\n<p>When positive fundamental and technical factors coincide with an overall drop in selling pressure, it could buoy the momentum around Bitcoin.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Macro_influence_could_be_favoring_Bitcoin_too\"><\/span>Macro influence could be favoring Bitcoin too<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to Trabucco, Joe Biden\u2019s projected victory and the prospect of Moderna and Pfizer vaccines are both positive factors for Bitcoin.<\/p>\n<p>The support for Bitcoin from various tech companies including PayPal, banks, politicians, high-net-worth investors and billionaires are all likely pushing up the BTC price, the trader argues. He wrote:<\/p>\n<blockquote><p>\u201cMy take would be: eh probably a combination. I do think that Biden\u2019s victory and the vaccines were net good for e.g. SPY which has both short- and long-term correlation to BTC in the COVID era, which contributed. And there are also legit a lot of traditional companies \/ entities \u2014 banks, hedge funds, random rich people, thought leaders, tech companies, Wyoming senators, etc. \u2014 signaling support for BTC, which both directly (buying) and indirectly (sentiment) influences its price up.\u201d<\/p><\/blockquote>\n<p>In the near term, the roadblock for Bitcoin remains the $18,500 resistance area. Above it, there is little resistance until a new all-time high, after which BTC would enter the uncharted waters of price discovery.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<p>Considering that the post-halving bull run lasted 15 months following the 2016 halving, there is a high probability that Bitcoin could peak in mid- to late-2021, as some analysts believe.<\/p>\n<p>If so, the medium-term prospect of Bitcoin remains bright, particularly considering that many macro and technical factors are buoying the market sentiment.\n<\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/not-just-wall-street-quant-trader-explains-why-bitcoin-price-is-going-up\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Not just Wall Street: Quant trader explains why Bitcoin price is going up &#8221; Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin (BTC).\u00a0 The catalysts are increasing adoption, whales, inflows from other products into Bitcoin, and influence from other markets. Alameda Research is&#8230;<\/p>\n","protected":false},"author":1,"featured_media":115474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-09\/9ab435be-2d16-480f-a7df-cf72698f9c8e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-115473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/115473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=115473"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/115473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/115474"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=115473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=115473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=115473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}