Bitcoin Breaches $34,000 as Rally Extends into New Year

Re:Bitcoin Breaches $34,000 as Rally Extends into New Year by xyzelement on Sunday January 03, 2021 @11:41AM (#25622810)

Does anyone understand the market enough to explain who the sellers of bitcoin are? The daily volumes are several times the mined quantity so there must be people/institutions quite willing to part with their coins at their current prices.

Is it - people who had a specific price target in mind and are selling? People who need liquidity? Some other big aspect I am missing?

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Re:Bitcoin Breaches $34,000 as Rally Extends into New Year by tromp on Sunday January 03, 2021 @04:11PM (#25625280)

It's impossible to obtain reliable volume numbers since many exchanges either make them up or artificially inflate them with wash trading.

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Re:Bitcoin Breaches $34,000 as Rally Extends into New Year by blymd on Sunday January 03, 2021 @07:27PM (#25626671)

Can you provide some evidence of regulated exchanges partaking in wash trading? Would be very curious to see.

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Re:Bitcoin Breaches $34,000 as Rally Extends into New Year by tromp on Tuesday January 05, 2021 @05:57PM (#25652391)

The ones engaging in wash trading are not particularly regulated...

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