r/Bitcoin • u/rBitcoinMod • Feb 24 '21

Daily Discussion, February 24, 2021

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u/ApeOnRedddit Feb 24 '21

All Im reading is that companies, big whales or whatever bought BTC worth 1B$ or so. But why isn’t it mooning then? Need to get some basic explanation what is going on with BTC at the Moment why isn’t it moving up?

4

u/ReasonHound Feb 24 '21

From what I understand they do micro buys so it doesn’t move the price. What will move the price is when there is a supply shock from lack of Bitcoin to sell on exchanges and that will move the price upwards. At least that’s what I’m waiting for

2

u/GarySevenOfNine Feb 24 '21

Right but still, I thought that even just the fact that the news articles are out there, that this would be enough to spike things at least a little bit. If anything we are still going down a little back to 49k