Hi
I saw todays dip and then read that a whale von Bitstamp sold about 3600 coins at once and tanked the price down to 6200 for a short period of time. Now it stabilized at around 7200 USD.
Why do these people do this? Are they just morons?
If they would sell their coins within a period of 3-4 days they could probably get close to 8000 USD for every single BTC ...
So many factors are involved. From what I have read this pump was a short squeeze by deep pocketed whales buying in order to liquidate shorts. When it gets to the top and no more left to squeeze they short the top(or short on the way up) then dump. It is actually fascinating watching this all unfold. But whales are our friends. They have helped drive the price to $20k. Im sure at times when there have been rogue players maybe trying to drive the price down and hurt btc they stepped in and bought. Does it suck that they dumped? Of course, but unless you were planning to sell they beat people to it first. It may continue to drop for awhile but im looking at it as a buying op for the real bull run. Just my 2c. G/l |
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a pullback was inevitable. that was one hell of a run from $4k to $7.5k we are blessed guys. if I were a trader I would buy this dip. This pump could continue  |
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good stuff bro thank you  |
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why is the ny attorney general concerned with bitfinex? Usa citizens are banned and cant even open an account on that exchange  So why should they even care? |
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Dang that is a great deal.
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Is the crypto bubble finally coming to a end? Why and HOW is it possible for bitcoin to dump that much that fast? Is bitcoin controlled by 1 entity and will that entity dump bitcoin to $100 one day?
with the fake bitfinex tether news it was an excuse for whales/traders to take profits. it depends now on how they want to treat this narrative. either drive the price down to lock in bagholders who have been buying the last month, or we continue on upwards. bitfinex snapped back to $5400 but its very odd that now coinbase has a $200 spread whereas over the past month the difference was maybe $30-$40 |
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i am drooling. awesome coin and a great price gl  |
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imo 2021 at the earliest for the next bull run. unless there is a positive black swan event in the meantime. i think traders and whales are trying to lock in bagholders at $5k+ area then pull the rug out and double bottom at $3k.
a short squeeze isn't a proper start to a bull market like we just had with that $1k pop. It looked orchestrated to me. even if it was one big buy order that means nothing unless there are more like it which I don't see happening. there just isnt any real catalyst right now to justify buying. bitcoin needs new blood in the game and until the bear market is a distant memory for those that sold with heavy losses its going to be a grind. 2014-2017 was the doldrums and I see the same for 2018-2021. i hope im wrong, but even if the bull market is delayed, holders will still make decent returns.
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bear until we convincingly blow past $6k where there are tons of bagholders. |
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Ok so we all know that whenever Bakkt finally opens its doors to futures trading they will be obligated to actually have the bitcoin "in hand" to deliver if a client wants the physical delivery. My question is where in the hell are they going to be able to source all this bitcoin from? I think the delay with them opening is due to the fact that there is no way they will be able to acquire as much bitcoin as they will need without driving the price sky high. If goldman wants to take a position of 1%(100000 coins) it would cost them $500 million at todays price. even if they plan to hold it only a couple months, bakkt still has to have that in their warehouse right? Im not saying chase or boa or goldman even want to buy, all i am saying is if they put in an order, it has to be filled and those coins must be sourced on the open market. I am really beginning to think there is no way that bakkt can actually warehouse coins, there just may not be enough to go around. |
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it is great to see the nice rise in btc price but i don't think the bear is over yet. to me this looks like a trap. i hope I am wrong, but to me it feels like a synthetic pump. whales are not going to buy in for the long term and create an expensive pump on purpose, they would slowly accumulate at the lowest possible prices.
a mystery buyer? I doubt it, they would do it otc to avoid slippage. i wouldnt be surprised if the whales pull the carpet out and we go back to $4k. no harm no foul. until price breaks through $6k convincingly, i think it is still a bear imo.
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im out not bidding against a noob
good luck
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