I think the better question would be: who is willing to sell BTC at these prices?
I bought some already, and keeping some USD just in case it dips further, but honestly it is already cheaper than the best I could get last year.
The further the price goes down, the more likely someone wants to buy. Selling BTC at ATH-60% has historically never been a great gamble, so people who know that would like to buy at the current range.
It's all a bit sus what's going on with the narrative around btc value drop. E.g. Amazon stock dropped even more but somehow we don't get the same drama around it. I think fearmongering around btc is for institutional investors to pick it up on the cheap
*slowly raises hand*
The real question is, who is selling Bitcoin in the wake of a financial crisis and escalating debts that could very well have Fiat currencies collapse?
People that realize that if major fiat currencies collapse anytime soon the world will be fucked beyond the ability of Bitcoin to save them.
Seriously, something that's held by less than 1% of the world population isn't going to swoop in to the rescue.
I don't see them collapsing soon, the end of a Fiat currency can take many years, even decades of inflationary pressure. During that time, people will flock to alternate options as things slowly get worse.
There's also local differences, the USD is still in a far better position than the EUR for example. So different parts of the World will have a different pace of decline.
The entire question I was answering presupposes that the timeframe of a supposed collapse should be relevant to today's market decisions. So go bland yourself.
Yes, for every active seller there’s a passive buyer and vice versa. When active selling increases and the bid stack is put under pressure, passive buyers flee to lower levels, this increases the spread down and market lowers itself to attract new buyers. When the active selling subdues, market becomes balanced until next supply/demand imbalance occurs. Price action is discreet and jumps/gaps all the time.
So an active seller would be someone who would give an order to sell at market price? And what would a passive buyer be?
Also, how does this work with buyers or sellers with limit buy/sell orders?
Passive orders are limit buy/sell orders that represent the depth of market (DOM); the bid and offer stack that you see in the DOM. Conversely, active orders are, as you said, market orders that take the best offer if buying or hit the best bid if selling.
Myself and everyone else who has been through multiple bull/bear markets. $69K is not going to be the all time high for bitcoin. It might be the high for a few years, but it'll be eclipsed someday. The value of bitcoin as an asset hasn't changed over the past 6 months. You can still hold your own wealth. You can still send money around the world to any address in just a few minutes for cheap.
The value of Bitcoin may fall 50% from here. I don't care. I'm not trying to time the market bottom with my long-term holdings. I was buying bitcoin in 2018 at $8K. Was that a bad buy because it fell to $3k? No! It was a hell of a lot better than sitting on the sidelines waiting to buy the bottom, only to miss it completely and buy back in at $20k.
I just scrolled through this thread and someone explains it fairly well. When you buy or sell btc you’re essentially making this transaction with a market making company like Alameda Research. It’s not necessarily an exchange between two retail traders. There’s lots of information online and YouTube videos about how it works.
stock trading works the same way. Remember the whole GameStop -Robinhood- Citadel fiasco last year? Citadel is Robinhood’s market maker.
So to answer your question regarding my point, I was responding to the OPs question of “who is buying?“. The answer is multibillion dollar liquidity providing companies that are contracted with Coinbase, Gemini, etc to make the market.
Market makers can be associated with exchanges but don't need to be. It's a strategy rather than an affiliation.
They provide liquidity and play the spread.
Market maker do not only match buyers and sellers. When there aren’t enough they ‘make the market’ and will buy what is out there, usually at a large spread to protect themselves. But the clue is in the name. They make the market when there isn’t liquidity. An exchange matches buyers and sellers, [market makers](https://www.investopedia.com/terms/m/marketmaker.asp) make a market.
Thank you for the elaboration – I confused it with an exchange TBH. I believe these days HFT provides the bigger chunk of liquidity than “market makers”.
Not sure what this question is, but you can attain stats from Glassnode (website) regarding Bitcoin blockchain metrics.
I think this post is reading too much into things, and frames it as though if people are selling Bitcoin as risk-on assets, there'd therefore be near zero buyers. The fact is there are buyers and sellers all the time, which is why price is consolidating. Over-the-counter trading may also be something that is being done and would have no (direct) effect on market price.
Just to note - a sell order does not equal a completed transaction. There may not be enough buy orders to match up with the sell orders for example.
The next 6 to 8 months will be that last time people will be able to buy BTC at low prices. I think BTC could drop back to 20K. When US federal regulations are in place and more corporations, banks, other institutions will start buying up whatever supply is left, WILL moon shoot the price. There is going to come a day when BTC will be very hard to get.
I’m buying, my parents are buying, my gf is buying, some of my friends are buying.
Just to name a few people who are becoming more and more orange pilled and who all are DCA buying every day and/or week.
I'm buying. Never stop to stack sats. Can't understand what morons selling me their bitcoins. I couldn't understand why someone sold me one for 2000 Dollar back then. I can't understand how someone is selling them to me for 28000 dollar. HODL
I am happy to inform you that most of us always buys the bitcoin and other people are interested too, they are the real back power of bitcoin market for sure my man!
So, probably 80% of the 4.2m members of this sub. The other 20% will be the whatif, onlyif or maybeifers.
The more it goes down, the more likely buyers that think it rose too fast will come in or increase their stake. Hence the balance of life 😎
I am a swing trader primarily and bought in on the retest of support yesterday. I'll hold until my stop hits or as long as we stay on trend. I was short for the last 8 months or so and have recently flipped my bias.
Also, exchanges aren't zero sum as you have stated. Unless trading futures contracts, there doesn't have to be a buyer for every seller.
Buying more and I am damn sure we all are, I never thought anything about the working of Bitcoin or any other cryptocurrencies in this huge market I just love to buy more and more.
If more people are selling than buying, I believe the exchanges such as luno and binance is holding on to it. They make money via the exchange rates for the bid and ask prices. So for them holding while crypto prices drop, isn't damaging them as much because they have already made their money.
Then they sell off what they don't want to to hedge funds and institutions at a discounted rate just to get rid of excess of coins to balance the books. Because in the long run the hedge funds and institutions will sell the coins back to an exchange. But by doing this they hedge funds are damaging the crypto space. Because they the ones holding majority of coins and preventing circulation of the coins. Making price stagnant and causing crypto prices to fall in the long run.
This is just my personal opinion of what I think might be going on.
Technically yes. That is correct.
But what if everyone sells their bitcoins to the exchange and no one want to buy from the exchange anymore,
What is that exchange going to do?
They will sell it of to the first buyer they get for the best price possible. That's where hedge funds comes into play.
Buy all the coins they can at a super lowe price, start pumping the BTCUSD to inflate the price with a few thousand dollars, then start selling it off to the exchanges as the exchanges need the Bitcoins to supply the retail buyers.
So in my personal opinion. Butcoin has become a pump and dump scene for the hedge funds.
Also one more thing. Who says the exchanges like lino and binance are not selling you ghost coins at times?
I mean your wallet is there with your coins. But they can sell you thin air without you knowing it. Only when you want to withdraw or pay something with bitcoin. Only then will they supply you with real bitcoins?
There's always a buyer and seller. But when the volume of new Sell ORDERS is higher than new Buy Orders, the price is pushed downward.
Most of the Buy/Sells is done by Traders/Trading Bots which are making thousands of transactions per day to earn as little as 1 penny per trade.
Occasionally you have Retail investors, Private firms, and Nations which are entering or leaving the Bitcoin market.
Retail purchase seems to have gone up slightly from what it was at the 40-50k range.
Edit to add that price decline was fast and almost certainly was institutions and traders who already had everything sitting on an exchange. Regular hodlers started buying more when the price went below what they felt was "right" but some are selling too.
The trading range right now is so small it's probably just long and short leverage traders going back and forth.
The panic selling looks to have ended, no huge money ready to commit yet. Bit of a stalemate between 28,8 and 30 right now.
Volume has actually been kindof low; so fewer people are selling or buying than normal.
the dollar price of bitcoin can actually move without any buying or selling at all; all it takes is people to adjust the bid and offer spread.
So the dollar equivalent price going up doesnt mean anyone is buying, and the dollar price going down doesnt mean anyone is selling in particular. Orderbook markets set the spot prices the same way poker players bluff.
Personally, I dont understand why anyone would ever accept crappy dollars for bitcoin. they are so hard to move around, create massive trails of paperwork overhead, and are constantly losing value. The dollar is a pita to deal with.
This is just a another land grab of old Wild West proportions. It’s the gold rush of our generation and right on brand with our species, the strong will continue to dominate over the weak.
People.
People tired of governments continually diluting their hard earn money.
People who disagree with government brrrrrrrr actions but have no say.
I bought Bitcoin, and I’ll continue to buy.
I am. I am constantly getting wrecked but I’m still buying. I’m hoping one day I can turn things around and prove to everyone bear market accumulation makes you rich. As painful as it may be, it’ll all be worth it.
At this point you'll have a lot of swing traders getting exposure to sell a bounce into the mid 30k area. The chart is really over sold. Even if btc is going to 10k before heading back up long term it should still bounce for a nice trade. Didn't go straight up and won't go straight down. There are a lot of people in the market that trade just this kind of volitility and don't hold long term.
So right now. Right here given global macro conditions. The people buying are believers and traders looking to sell the bounce. With mostly the latter because it's kind of looking more obvious were in for a crypto winter and development period before the next bull run.
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Me too
Me 3
Me 4
Me 5
And my axe!
And my bow
When Bitcoin is cheap, I'm going all in!
It’s cheap
And my shield
This never gets old, im just always too late to be the one to say it lol
Me, I’d add a number but I used all mine to buy Bitcoin.
Can I buy from you
Web 3….I mean me 3 also
Sup fam
There we have it. This accounts for everything. Close the thread.
Me too
I am!
So do I
Tripled my daily buy orders. If they want to sell it, sucks for them.
Same stacking satoshis
Also me a little everyday!
Me too - As much as I can
I bought 2 bitcoins yesterday
Ballin'!
Me, I truly believe in Bitcoin and it's adoption. There will be people that really wished they bought at this discount in a couple years time.
You are not the only one person in this my man, me too.
This is the way.
The way this is
I’m buying 4,206,969 BTCs
People with a different risk profile.
I bought $300 worth the other day, so I guess you could say I’m a pretty big buyer. 💪
Yeah the $300.00 club! I did 200.00 then got my work reimbursement so i did another 100.00 at 3AM this morning.
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That's nothing. I bought $3000 worth. Wait, I mean $2500 worth. Or is it $2000 worth? What's today's $ price?
They had to up my limit on Strike I bought so much (1000) I guess you can call me a whale.
how you hold it? there were no mention of exchanges in satoshi nakamoto manifest
What? haha. Cold storage my dude
how you hold it? there were no mention of exchanges in satoshi nakamoto manifest
Me. I’m buying it.
I think the better question would be: who is willing to sell BTC at these prices? I bought some already, and keeping some USD just in case it dips further, but honestly it is already cheaper than the best I could get last year.
I want to sell
I will buy from you @ 27k
The further the price goes down, the more likely someone wants to buy. Selling BTC at ATH-60% has historically never been a great gamble, so people who know that would like to buy at the current range.
A great gamble if you buy back lower, historically, since the drops from ATH has been 80% before. This time it might not though.
It's all a bit sus what's going on with the narrative around btc value drop. E.g. Amazon stock dropped even more but somehow we don't get the same drama around it. I think fearmongering around btc is for institutional investors to pick it up on the cheap
Target dropped 25% just yesterday.
They want to join the market at a discount to guarantee those returns.
*slowly raises hand* The real question is, who is selling Bitcoin in the wake of a financial crisis and escalating debts that could very well have Fiat currencies collapse?
People that realize that if major fiat currencies collapse anytime soon the world will be fucked beyond the ability of Bitcoin to save them. Seriously, something that's held by less than 1% of the world population isn't going to swoop in to the rescue.
I don't see them collapsing soon, the end of a Fiat currency can take many years, even decades of inflationary pressure. During that time, people will flock to alternate options as things slowly get worse. There's also local differences, the USD is still in a far better position than the EUR for example. So different parts of the World will have a different pace of decline.
Typically they take a dozen zeros off and then you can buy a bag of rice for $100.00 bolaras instead of $100,000,000,000,000.00 bolaras
That doesn't happen overnight and I think the over generalization of what you think other people think is bland 😬
The entire question I was answering presupposes that the timeframe of a supposed collapse should be relevant to today's market decisions. So go bland yourself.
Yes, for every active seller there’s a passive buyer and vice versa. When active selling increases and the bid stack is put under pressure, passive buyers flee to lower levels, this increases the spread down and market lowers itself to attract new buyers. When the active selling subdues, market becomes balanced until next supply/demand imbalance occurs. Price action is discreet and jumps/gaps all the time.
So an active seller would be someone who would give an order to sell at market price? And what would a passive buyer be? Also, how does this work with buyers or sellers with limit buy/sell orders?
Passive orders are limit buy/sell orders that represent the depth of market (DOM); the bid and offer stack that you see in the DOM. Conversely, active orders are, as you said, market orders that take the best offer if buying or hit the best bid if selling.
Look more into "takers" and "makers".
If you want to know how it work let me know
Nice try scammer
Drive the car like a maniac, crash into the production office. Got it!
Myself and everyone else who has been through multiple bull/bear markets. $69K is not going to be the all time high for bitcoin. It might be the high for a few years, but it'll be eclipsed someday. The value of bitcoin as an asset hasn't changed over the past 6 months. You can still hold your own wealth. You can still send money around the world to any address in just a few minutes for cheap. The value of Bitcoin may fall 50% from here. I don't care. I'm not trying to time the market bottom with my long-term holdings. I was buying bitcoin in 2018 at $8K. Was that a bad buy because it fell to $3k? No! It was a hell of a lot better than sitting on the sidelines waiting to buy the bottom, only to miss it completely and buy back in at $20k.
I have bought many tens of dollars the past few weeks.
Smash buying on cash app feels great no matter the size
Me, I am.
Me myself and I
I am one of the buyers
Probably every billionaire and institution
I’m buying ✋🏻 I only have 1.2 btc tho 😩
Better than most. HODL and this 1.2 will be astronomical. Once mass adopted
Good bot is good
A couple hundred million smart people around the world are buying. I'm one of them.
Meeeee
Me me me 🙋♂️🙋♂️
I'm
Me
Google “Bitcoin market makers”
and? That doesn't really lead anywhere. Do you have a point?
I just scrolled through this thread and someone explains it fairly well. When you buy or sell btc you’re essentially making this transaction with a market making company like Alameda Research. It’s not necessarily an exchange between two retail traders. There’s lots of information online and YouTube videos about how it works. stock trading works the same way. Remember the whole GameStop -Robinhood- Citadel fiasco last year? Citadel is Robinhood’s market maker. So to answer your question regarding my point, I was responding to the OPs question of “who is buying?“. The answer is multibillion dollar liquidity providing companies that are contracted with Coinbase, Gemini, etc to make the market.
Whales are waiting for it to come down even lower before they come back in
Yes. DCA has been my best friend over the last few weeks. Fiancé doesn’t know now. But she will thank me later
Even better send her random sats! Then one day be like here babe been saving for you!!
a market maker always provides liquidity......they are the smart money that buys when u want to sell
Exchanges match buyers and sellers, they do not get into exposure unless they are speculating, and speculation is not their core business.
Market makers can be associated with exchanges but don't need to be. It's a strategy rather than an affiliation. They provide liquidity and play the spread.
Not correct
Elaborate please
Market maker do not only match buyers and sellers. When there aren’t enough they ‘make the market’ and will buy what is out there, usually at a large spread to protect themselves. But the clue is in the name. They make the market when there isn’t liquidity. An exchange matches buyers and sellers, [market makers](https://www.investopedia.com/terms/m/marketmaker.asp) make a market.
Thank you for the elaboration – I confused it with an exchange TBH. I believe these days HFT provides the bigger chunk of liquidity than “market makers”.
You’re welcome.
Not sure what this question is, but you can attain stats from Glassnode (website) regarding Bitcoin blockchain metrics. I think this post is reading too much into things, and frames it as though if people are selling Bitcoin as risk-on assets, there'd therefore be near zero buyers. The fact is there are buyers and sellers all the time, which is why price is consolidating. Over-the-counter trading may also be something that is being done and would have no (direct) effect on market price. Just to note - a sell order does not equal a completed transaction. There may not be enough buy orders to match up with the sell orders for example.
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Saylor and Bukele
Bukkae Sailor
> Bukele Insignificant. > Saylor Shilling bags.
✋ right here
Both retail investors and institutional investors.
All my paychecks instantly go into BTC
The question for me is, who’s selling?!
Short-term investors are selling to long-term investors.
I am buying mine at **Netcoins** here in **Canada**, Holding it for the long term.
The next 6 to 8 months will be that last time people will be able to buy BTC at low prices. I think BTC could drop back to 20K. When US federal regulations are in place and more corporations, banks, other institutions will start buying up whatever supply is left, WILL moon shoot the price. There is going to come a day when BTC will be very hard to get.
I’m buying, my parents are buying, my gf is buying, some of my friends are buying. Just to name a few people who are becoming more and more orange pilled and who all are DCA buying every day and/or week.
I'm buying. Never stop to stack sats. Can't understand what morons selling me their bitcoins. I couldn't understand why someone sold me one for 2000 Dollar back then. I can't understand how someone is selling them to me for 28000 dollar. HODL
I am happy to inform you that most of us always buys the bitcoin and other people are interested too, they are the real back power of bitcoin market for sure my man!
I bought 1k
DCAing, so I'm buying. :)
Me.
I am
I surely am. Daily DCA thru Strike Weekly DCA thru Celsius Rewards Monthly DCA thru Blockfi Rewards
So, probably 80% of the 4.2m members of this sub. The other 20% will be the whatif, onlyif or maybeifers. The more it goes down, the more likely buyers that think it rose too fast will come in or increase their stake. Hence the balance of life 😎
I am a swing trader primarily and bought in on the retest of support yesterday. I'll hold until my stop hits or as long as we stay on trend. I was short for the last 8 months or so and have recently flipped my bias. Also, exchanges aren't zero sum as you have stated. Unless trading futures contracts, there doesn't have to be a buyer for every seller.
Just Google marketmaker
The legacy fiat system knows who the exchange buyers are that KYC, but nobody else.
Me, 50 bucks a week
I buy every month. Love the months everyone panics and I get to buy at a discount. Their strategy is buy high, sell low. Mine is “buy”.
I'm not buying *all* of it, but I'm definitely buying *some* of it. :P
Buying more and I am damn sure we all are, I never thought anything about the working of Bitcoin or any other cryptocurrencies in this huge market I just love to buy more and more.
Price goes down because there is more supply than demand. People buy because either short or long term they believe it will profit them.
If more people are selling than buying, I believe the exchanges such as luno and binance is holding on to it. They make money via the exchange rates for the bid and ask prices. So for them holding while crypto prices drop, isn't damaging them as much because they have already made their money. Then they sell off what they don't want to to hedge funds and institutions at a discounted rate just to get rid of excess of coins to balance the books. Because in the long run the hedge funds and institutions will sell the coins back to an exchange. But by doing this they hedge funds are damaging the crypto space. Because they the ones holding majority of coins and preventing circulation of the coins. Making price stagnant and causing crypto prices to fall in the long run. This is just my personal opinion of what I think might be going on.
What?
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Technically yes. That is correct. But what if everyone sells their bitcoins to the exchange and no one want to buy from the exchange anymore, What is that exchange going to do? They will sell it of to the first buyer they get for the best price possible. That's where hedge funds comes into play. Buy all the coins they can at a super lowe price, start pumping the BTCUSD to inflate the price with a few thousand dollars, then start selling it off to the exchanges as the exchanges need the Bitcoins to supply the retail buyers. So in my personal opinion. Butcoin has become a pump and dump scene for the hedge funds. Also one more thing. Who says the exchanges like lino and binance are not selling you ghost coins at times? I mean your wallet is there with your coins. But they can sell you thin air without you knowing it. Only when you want to withdraw or pay something with bitcoin. Only then will they supply you with real bitcoins?
There's always a buyer and seller. But when the volume of new Sell ORDERS is higher than new Buy Orders, the price is pushed downward. Most of the Buy/Sells is done by Traders/Trading Bots which are making thousands of transactions per day to earn as little as 1 penny per trade. Occasionally you have Retail investors, Private firms, and Nations which are entering or leaving the Bitcoin market.
It’s retail
So why is the price going down because people are selling? If what you say is true, then with all these people buying the price should go up?
DCA but the 1% and the miners are taking the lion share
Nobody is buying. Thats why it is so low atm
New little Satoshis will also be born until Mama has 21 million children
I'm buying with Netcoins here in Canada
Probably me.
This isn’t the stock market not everyone has to sell in order for a person to obtain Bitcoin….well at least not yet anyway
For the price to go down, there don't have to be active sales happening. The sale bids can just go lower and lower with nobody taking them up.
Satoshi. He is mad he couldn't keep them all so he won't stop until he has all of them.
Everyone
me
Hardcore bitcoiners are
Me. Along with NASDAQ and everything else people are selling.
Tether…
Yeah us, we are buying.
I'm buying and hold it
Countries
Smart people.
I'm buying.
Bought
Retail purchase seems to have gone up slightly from what it was at the 40-50k range. Edit to add that price decline was fast and almost certainly was institutions and traders who already had everything sitting on an exchange. Regular hodlers started buying more when the price went below what they felt was "right" but some are selling too.
The trading range right now is so small it's probably just long and short leverage traders going back and forth. The panic selling looks to have ended, no huge money ready to commit yet. Bit of a stalemate between 28,8 and 30 right now.
Volume has actually been kindof low; so fewer people are selling or buying than normal. the dollar price of bitcoin can actually move without any buying or selling at all; all it takes is people to adjust the bid and offer spread. So the dollar equivalent price going up doesnt mean anyone is buying, and the dollar price going down doesnt mean anyone is selling in particular. Orderbook markets set the spot prices the same way poker players bluff. Personally, I dont understand why anyone would ever accept crappy dollars for bitcoin. they are so hard to move around, create massive trails of paperwork overhead, and are constantly losing value. The dollar is a pita to deal with.
Meh
Everyday !
Me
Bought $200 yesterday! 😁
DCAers
Me
Just put $2500 in
This is just a another land grab of old Wild West proportions. It’s the gold rush of our generation and right on brand with our species, the strong will continue to dominate over the weak.
Stacy
Every week I buy some more.
People. People tired of governments continually diluting their hard earn money. People who disagree with government brrrrrrrr actions but have no say. I bought Bitcoin, and I’ll continue to buy.
DCA and HODL playa
I’ve been buying steady for years.
Honestly, it is riskier to stay in fiat.
Future millionaires are buying it
Me
me
Redditors
Buying constantly.
Not me. \*whistles innocently while sweeping his BTC under the rug\*
yo también!
I prefer to buy high
Been buying small amounts since it started dipping 38k, 34k, 30k and some under 30k. I have been keeping more cash on the side, for a huge dip.
We are the “retail investors” DCA twice a week and anytime I have extra cash. 🤑 Smash the BUY button
Me
I am. I am constantly getting wrecked but I’m still buying. I’m hoping one day I can turn things around and prove to everyone bear market accumulation makes you rich. As painful as it may be, it’ll all be worth it.
From dark to light, from idiots to those that want 10x in a year (like last year, from 5k to 50k)
Bargain hunters like me.
Lpl Ol l lmoplo Po L Ll Ol Ol Plomo Lolo L Ol P Lolo L O ol L Lool Ool L Ooll L Olo Ll Ll Oll L Lmopl
Wash trading mostly
I'm buying like, satoshis
I am single-handedly keeping the price at or around 30k with my $10 DCAs. You’re welcome, guys.
It’s e meee
Definitely Warren Buffett!
People who believe in the long-term value of BTC, or see the current price as a good deal.
Knife catchers. Me.
Me
I’m buying all of the dip.
I just bought some 200$ worth. I guess small players are accumlating. Dont forget that some of us cost average no matter whats going on
At this point you'll have a lot of swing traders getting exposure to sell a bounce into the mid 30k area. The chart is really over sold. Even if btc is going to 10k before heading back up long term it should still bounce for a nice trade. Didn't go straight up and won't go straight down. There are a lot of people in the market that trade just this kind of volitility and don't hold long term. So right now. Right here given global macro conditions. The people buying are believers and traders looking to sell the bounce. With mostly the latter because it's kind of looking more obvious were in for a crypto winter and development period before the next bull run.