{"id":298523,"date":"2021-07-14T10:38:54","date_gmt":"2021-07-14T07:38:54","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-can-only-go-up-if-30k-accumulation-reset-continues-research\/"},"modified":"2021-07-14T10:38:54","modified_gmt":"2021-07-14T07:38:54","slug":"bitcoin-price-can-only-go-up-if-30k-accumulation-reset-continues-research","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-can-only-go-up-if-30k-accumulation-reset-continues-research\/","title":{"rendered":"# Bitcoin price can only go up if $30K accumulation &#8216;reset&#8217; continues \u2014 research"},"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-6a41318b9e563\" 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-6a41318b9e563\" 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-price-can-only-go-up-if-30k-accumulation-reset-continues-research\/#%E2%80%9CIntriguing%E2%80%9D_data_points_to_fresh_demand\" >&#8220;Intriguing&#8221; data points to fresh demand<\/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-price-can-only-go-up-if-30k-accumulation-reset-continues-research\/#A_glimmer_of_hopium\" >A glimmer of hopium<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price can only go up if $30K accumulation &#8216;reset&#8217; continues \u2014 research <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) is seeing a \u201creset\u201d in investor behavior at $30,000 and the trend need only continue to spark a price rise.<\/p>\n<p>According to on-chain monitoring resource <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ecoinometrics\/status\/1414971257502584837\">Ecoinometrics<\/a> on July 13, the only way is \u201cup\u201d for BTC\/USD if hodlers continue accumulating coins.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CIntriguing%E2%80%9D_data_points_to_fresh_demand\"><\/span>&#8220;Intriguing&#8221; data points to fresh demand<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Analyzing who bought coins since the start of the latest bull run in October 2020, Ecoinometrics showed that major change is afoot compared to last year.<\/p>\n<p>At the start, it was smaller investors, or \u201csmall fish,\u201d who were accumulating. This began when Bitcoin passed its previous all-time high of $20,000 and continued all the way up to the new peak of $64,500.<\/p>\n<p>At $20,000, however, larger investors began selling, albeit not in sufficient quantities to end the bull run.<\/p>\n<p>Whales, on the other hand, added selling pressure once BTC\/USD hit $30,000 for the first time. The result, analysts say, was the tipping point at May\u2019s highs.<\/p>\n<p>\u201c<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a>arently $30k is a key level that stopped the trend of coins accumulation by whales,\u201d Ecoinmetrics commented.<\/p>\n<p>The reason that selling pressure ultimately took over could lie with whale sentiment that Bitcoin was gaining \u201ctoo much, too soon,\u201d and that the market was thus deemed unsustainable.<\/p>\n<p>Now that $30,000 has returned, cold feet are nowhere to be found \u2014 investors, both big and small, are buying again.<\/p>\n<p>\u201cWhales and small fish have started accumulating again while other categories have turned neutral,\u201d the findings continue.<\/p>\n<blockquote><p>\u201cIf that interpretation is correct, then what we had with this correction is a reset. Would that trend of accumulation continue, there is only one direction Bitcoin can go and that\u2019s up.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/f86fccb0-906e-41be-83b6-cb56e6dc576e.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin whale hodling behavior chart. Source: Ecoinometrics\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"A_glimmer_of_hopium\"><\/span>A glimmer of hopium<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>That perspective provides a refreshing counterargument to the bearish tone taken by many market commentators over the past few weeks.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin price will see breakout \u2018during this week\u2019 says trader with $38K target<\/em><\/strong><\/p>\n<p>Even the classic stock-to-flow price model has fielded concerns of invalidation, something its creator <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1412106851374796804\">denies<\/a>, while on-chain activity has been marked by low volumes and a lack of solid support above $30,000.<\/p>\n<p>Calls for a major price move are not in short supply, meanwhile, with hopes for an upward move lingering despite sliding\u00a0below $32,000 on Wednesday.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/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-price-can-only-go-up-if-30k-accumulation-reset-continues-research\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price can only go up if $30K accumulation &#8216;reset&#8217; continues \u2014 research &#8221; Bitcoin (BTC) is seeing a \u201creset\u201d in investor behavior at $30,000 and the trend need only continue to spark a price rise. According to on-chain monitoring resource Ecoinometrics on July 13, the only way is \u201cup\u201d for BTC\/USD if hodlers&#8230;<\/p>\n","protected":false},"author":1,"featured_media":298524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvZThlOGFkZjQtZDdmMC00NDVkLWI4MGMtNzc3YTU2ZjM2MDFkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-298523","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\/298523","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=298523"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/298523\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/298524"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=298523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=298523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=298523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}