{"id":149879,"date":"2021-01-08T12:00:00","date_gmt":"2021-01-08T09:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-buying-algos-seldom-care-about-price-in-2021-says-analyst\/"},"modified":"2021-01-08T12:00:00","modified_gmt":"2021-01-08T09:00:00","slug":"bitcoin-buying-algos-seldom-care-about-price-in-2021-says-analyst","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-buying-algos-seldom-care-about-price-in-2021-says-analyst\/","title":{"rendered":"# Bitcoin buying algos &#8216;seldom care about price&#8217; in 2021, says analyst"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 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-6a3bf6c2de60b\" 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-6a3bf6c2de60b\" 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\/bitcoin-buying-algos-seldom-care-about-price-in-2021-says-analyst\/#filbfilb_I_dont_think_were_far_from_blow-off_top\" >filbfilb: I don&#8217;t think we&#8217;re far from blow-off top<\/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\/bitcoin-buying-algos-seldom-care-about-price-in-2021-says-analyst\/#Upside_in_%E2%80%9Cuncharted_territory%E2%80%9D\" >Upside in &#8220;uncharted territory&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin buying algos &#8216;seldom care about price&#8217; in 2021, says analyst <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) is not far from a blow-off top price implosion but investors are &#8220;aggressively&#8221; buying the dip.<\/p>\n<p>Speaking to Cointelegraph on Jan. 8, popular analyst filbfilb revealed that Bitcoin was due a corrective phase given the pace of recent gains.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"filbfilb_I_dont_think_were_far_from_blow-off_top\"><\/span>filbfilb: I don&#8217;t think we&#8217;re far from blow-off top<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Thursday, BTC\/USD exceeded $40,000 before a spectacular reversal saw a $2,200 drawdown in under give minutes. Thereafter, fresh attempts to flip $40,000 to support were met with rejection, and press-time levels circled $38,400.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/aaca69e2-4cba-4148-ab93-a5b36f0dbf11.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>With market participants keen to know what will come next, filbfilb told Cointelegraph that a new style of buying was fuelling repeated all-time highs. As with any market, however, vertical gains could not last forever.<\/p>\n<p>&#8220;Bitcoin has continued to make increasingly smaller consolidations after failed sell off attempts. This points to a climatic conclusion at an increased probability in terms of time. I don&#8217;t think we are far form a blow off top, but how high that could go is anyone&#8217;s guess,&#8221; he said. <\/p>\n<blockquote><p>&#8220;In terms of a correction, all we know today is that 20% corrections are bought with aggression. Until that changes then i hate to use a cliche but the trend is your friend.&#8221;<\/p><\/blockquote>\n<p>This automated trading style itself points to a new class of investor needing to enter the market with larger amounts, rather than the casual manual exposure which characterized the 2017 rush to $20,000.<\/p>\n<p>&#8220;It was more that there are still obvious signs of accumulation algorithms and that accumulation algorithms seldom care about the price when their goal is to invest X$ in Y time period,&#8221; filbfilb added.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upside_in_%E2%80%9Cuncharted_territory%E2%80%9D\"><\/span>Upside in &#8220;uncharted territory&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>At $40,000, meanwhile, a single bitcoin <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DocumentBitcoin\/status\/1347302238683860992\/\">passed<\/a> the value of the United States <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>n annual salary for the first time.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/001beaba-35ff-437a-9e62-75fa92603519.jpeg\"><figcaption style=\"text-align: center;\"><em>U.S. median salary historical chart. Source: Federal Reserve\/ Twitter<\/em><\/figcaption><\/figure>\n<p>The largest cryptocurrency&#8217;s 2021 gains alone were in excess of 42% at Thursday&#8217;s peak of $40,400, with the pullback that followed amounting to around 9% losses. While analysts retained the possibility of further corrections, the mood on Friday was firmly bullish.<\/p>\n<p>&#8220;The entire bull cycle we&#8217;re experiencing now will be way larger than anyone is expecting it to end too,&#8221; Cointelegraph Markets analyst Micha\u00ebl van de Poppe told <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1347422784050192387\">Twitter<\/a> followers. <\/p>\n<blockquote><p>&#8220;Just like the $20,000 peak high was way higher than everyone expected in 2016\/2017 to be the top on Bitcoin. That&#8217;s how markets work.&#8221;<\/p><\/blockquote>\n<p>Statistician Willy Woo also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/woonomic\/status\/1347433551906500614\">noted<\/a> the lack of references left on the Bitcoin spot chart to calculate resistance, given the latest all-time highs. Only Fibonacci sequences remained.<\/p>\n<p>&#8220;When there&#8217;s no historic resistance levels, magic numbers in nature is all we have for support and resistance bands. Bitcoin is in unrestrained price discovery in uncharted territory, literally,&#8221; he wrote.<\/p>\n<\/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\">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\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-buying-algos-seldom-care-about-price-in-2021-says-analyst\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin buying algos &#8216;seldom care about price&#8217; in 2021, says analyst &#8221; Bitcoin (BTC) is not far from a blow-off top price implosion but investors are &#8220;aggressively&#8221; buying the dip. Speaking to Cointelegraph on Jan. 8, popular analyst filbfilb revealed that Bitcoin was due a corrective phase given the pace of recent gains. filbfilb:&#8230;<\/p>\n","protected":false},"author":1,"featured_media":149880,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/3e6d58e3-e583-48e6-a758-89ba87c36b51.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-149879","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\/149879","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=149879"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/149879\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/149880"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=149879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=149879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=149879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}