it also shows desperate phase, they bringing the big guns out now because nothing else working
says volumes
Yep. Also, the whales have to keep up the pressure to dump and short. Because they know that once the technicals turn upward for good, the thousands of trading bots take over and the start of a new bull run gets solidified. Then other long investors and traders start coming back in. They lose a bit of control over the float and the direction of the market at that point. |
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I read through the Tether manipulation paper. IMO it made two convincing points:
#1 Someone has a habit of doing this:
- Issuing new USDT
- Within days, moving that USDT to BitFinex, Bittrex, and/or Poloniex
- Using that USDT to buy crypto (seemingly a portfolio of BTC & others). They especially like to buy crypto when the price is just below whole numbers.
- Moving the resulting crypto back to BitFinex
- Rarely or never selling the crypto for USDT again
The authors argue that this is Tether/BitFinex themselves, and I think that this is in fact the most likely explanation. But the authors didn't address the alternative possibility of this being a particularly ham-fisted whale who is a close partner of Tether.
#2 Due to end-of-month trading, Tether has probably always been trading with USD deposited with them (fractional-reserve), though at least until March 2017, USDT was probably not complete monopoly money, since they did go to the effort of achieving an end-of-month USD balance.
The authors also tried to argue some other points which I didn't find convincing.
Meh, theymos I know you've been around this block before. Notice when these so-called "in-depth analysis" FUD studies come out... never during a bull run, but always after a confirmed downtrend and usually near the bottom (e.g. Willybot report, anyone? I also distinctly remember another example in mid 2014 where some well known financial institution did some "in-depth analysis" to determine the true fair market price of bitcoin forever : $1100   ). It's not the content that is suspect. It's the timing. These "studies" are designed to do one thing, and that is to keep Average Joe sidelined at the precise time he should be accumulating. |
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So I've heard that Goldman Sachs has started a Bitcoin trading desk. Raise your hand if you think they would kick things off by going long with huge on-exchange market buys? Or...?  |
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Hodling is depressing in times like this.... it's my cold wallet that is being brutally hit what concerns me.
Just think about the WinkleVii's or Tim Draper's cold wallet and you'll feel a whole lot better.  |
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And you only come and update your thread when the price falls more. But vanish when the price goes up. Good luck! |
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Every Bitcoin rally is a form of 'nominal confusion' to the Average Joe.
Up 20X, then retrace back down 75%.
Up 20X, then retrace back down 75%.
Yet somehow Bitcoin's value in fiat terms continues to climb higher and higher YoY, never to return to previous values.
Funny that.
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Dear Weak Hands:
Please sell all your bitcoin now. The whales need to screw you really hard before we can go back up again. Don't try to buy your bitcoin back until we get close to a new ATH. And don't DCA, it doesn't work.
Sincerely,
Bitcoin Bulls
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-55% YTD
155% at 1 YR
790% at 2 YR
6,175% at 5 YR
174,853% at 7 YR
Those figures really form a nice ponzi triangle when you factor in the user base and coin distribution .
Ducks to avoid the triggered crypto-extremists  |
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For the deep pockets who want to take a big long position, the tree has been shook.
It'll be shook again, possibly several times, before we move up again.
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Yeah, that was it. :rolleyes: I'm sure of it. I mean, just look at all the definitive, undeniable proof of hacking they show every time we hear one of these stories. : rolleyesmorewithextremesarcasm |
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When real people join in the bull troll. It's like watching a car crash with all my old friends.  Car crash upwards you mean? Zoom out. If we got back to just above $10K by Oct. 2019 we'd still be in a long term bull market. Anyone who bought today would see a minimum of a ~33% gain by then. Sad for them? |
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BTFD
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Many people think that Bitcoin's price action is just pure speculation and completely disconnected from other markets, like equities, commodities, hedge markets, PMs, etc. But if you ascribe to the notion that : a) Bitcoin could be a safe haven hedge like PMs, and that b) the equities market is topping and looks really strained/risky, along with c) what is happening to the emerging markets, hyperinflation countries, and with d) Central Banks insolvencies, the Deutsche Bank downgrade, etc. Well then.... the Bitcoin price action over the last 2 years makes perfect sense in that context.  |
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Interesting interview with Mike Novograts: https://www.youtube.com/watch?v=oWhzlaymNIk&app=desktopOne tidbit I found interesting is when he said that the bubble we just had was akin to the 1996 stock market bubble. The 1999 "internet bubble" is coming and it will be the largest bubble ever. It is interesting, yet very disturbing that he likes to think about Bitcoin market "bubbles" as if they are always a good thing. As if the 1999 stock market bubble didn't also wipe out a lot of people. You gotta remember, Mike is a nice guy, but he is also a shark out to make money. He'll be the first one dumping his mega stack at the top of the next "great bubble" and probably won't feel any remorse about it. |
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No. I have no doubt that the result of changing the PoW for Bitcoin will be yet another forked chain that is NotBitcoin.
Yet, this is exactly what Luke-jr has been advocating as of late. Look it up.
All y'all need to get out more.
And yet that's exactly what the BCash idiots did, forked a chain that is NotBitcoin. Oh the irony. But jbreher likes his selective amnesia, it feeds into his cognitive dissonance I guess.  |
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What the hell does this volume decline mean?
-Not even Doanld will risk a wall
-LOL bleedout
-No volume bounce is possible, some anti gravity force I don't know about is out there
Ever heard of "Sell in May and go away"? It's a real thing. |
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