It is amazing that the only coins that moved in this 2 month bear market are bought in the last 6 months, a.k.a. short term hodlers. Hence these guys alone are selling. Poor weak hands, they must be screaming like little girls while selling. I just wonder whether there is a single long term hodler to sell in panic now that we are 30K below the ATH 2 months ago? Probably none. And another thing. Is there a single daily trader, who can boast that he is in profit in the last year? Probably none. At least the stats show only liquidations and endless series of stop losses. It sucks to be a trader.  But where are they getting the coins? In the move from May to Nov most of the buyers were LTH with little selling history. And there is buying by the LTH again at these levels. The term Short Term Hodlers (STH) combines the daily traders and new wanna-be hodlers who bought in the range 40K-60K. These were coins from Long Term Holders (LTH) who always sell on the way up, and not so much on the way down. Humans are predictable, so when a new investor sees his profit erased in the blink of an eye, he just can't help and sell on the break even in the best case. Glassnode stats clearly show that the movement of old coins itensified during the 2 bull runs in 2021 and went to 0% during the 2 dumps. All these bear wet dreams of cheap coins will soon die in ashes, because without the aid of old coins dumped on the market the crashes will be insignificant like the current one. This is quite different from the bear market in 2018, when the old coins flooded the market during the run to 20K and the recovery to 12K. Now, if we assume that the current situation is a big bear manipulation, then these must be new players, completely ignorant regarding Bitcoin specifics. They can't bring the price down simply by selling each time there is a small pump, like with stonks. They need a help from the old coins, which could be lured only above 60K. But then they might be surprised again by the lack of such event, since the hodlers are waiting for 100K and fewer will sell at 60K than in 2021. So it is a win-win for the bulls even mid-term, not to mention long term. This is what I'm talking about, but being that during the move up from the 30k mid last year we didn't get much LTH selling. How have the STH so many coins to sell at the moment? It seems like we should be at or near the bottom, going off the supply metrics, but price still going lower. Futures must be playing a part by adding artificial selling supply. I agree with your mid-term long-term, but if we get back down to last years lows, I'll be pretty shocked especially with no LTH selling. |
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It is amazing that the only coins that moved in this 2 month bear market are bought in the last 6 months, a.k.a. short term hodlers. Hence these guys alone are selling. Poor weak hands, they must be screaming like little girls while selling. I just wonder whether there is a single long term hodler to sell in panic now that we are 30K below the ATH 2 months ago? Probably none. And another thing. Is there a single daily trader, who can boast that he is in profit in the last year? Probably none. At least the stats show only liquidations and endless series of stop losses. It sucks to be a trader. But where are they getting the coins? In the move from May to Nov most of the buyers were LTH with little selling history. And there is buying by the LTH again at these levels. Either we have amazingly lackluster demand or STH have more coins then we think. |
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Below 39,500 Today? Seems to be a bit of volume on Stamp right now.
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Enough daily fake outs  Same shit that was happening in the high 40s a few weeks ago. What surprises me about this dip is that apparently there was very little new retail that bought from May to Nov last year. That move was made by LTH, and vast majority of that was not sold, and infact they LTH are buying again. So who is doing the selling to keep dropping the price, has spot buying/selling been made completely redundant now and these moves are purely from the futures markets? |
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Can someone please explain to me what the actual fuck is going on with the price action today?
Good grief.
Bitcoin market is filled with a bunch of chicken shits. |
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The news today of Intel getting into the mining chip game didn't seem to have an immediate impact on the market, but this is the sort of news that give other companies the warm and fuzzy feeling inside. I could see other companies who have had "mining chips primarily sourced from China" on the CONS side of their presentation now have something to put on the PROS side. A 200+ billion dollar company getting into Bitcoin mining is a pretty good signal that it's going to be big business for some time to come. For years we've heard about how Bitcoin mining wasn't a big enough slice of pie for companies like Intel to care about. Today, that is no longer true. Absolutely amazing. This has potential to be a price catalyst.
When we have bearish sentiment good news never moves the market. Whereas bearish or bullish market sentiment and FUD always moves the market. Never understood this, but I guess it can just be put down to people being idiots. |
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As you guys are worried for the price, I am here to tell you that price is the least interesting metric to assess the healy of our mutual orange friend. For example, which measure the security of the Bitcoin network, is yet another time at ATH.  China mining Ban, Kashakistan riots, anything can stop the miner's weapon race. The impressive pace of network hashrate will take us to another gigantic difficulty adjustment next Friday, when the difficult will readjust. The adjustment will be a gargantuan one:
Latest Block: 719212 (2 minutes ago)
Current Pace: 109.1272% (1517 / 1390.12 expected, 126.88 ahead)
Previous Difficulty: 24272331996979.97
Current Difficulty: 24371874614345.62
Next Difficulty: between 26456677151315 and 26605209206773
Next Difficulty Change: between +8.5541% and +9.1636%
Previous Retarget: January 8, 2022 at 8:40 AM (+0.4101%)
Next Retarget (earliest): Friday at 4:34 AM (in 3d 4h 12m 38s)
Next Retarget (latest): Friday at 6:18 AM (in 3d 5h 55m 56s)
Projected Epoch Length: between 12d 19h 53m 51s and 12d 21h 37m 9s
https://www.bitrawr.com/difficulty-estimatorWhat does it mean exactly? Can you remember my thread on Alps Blockchain? A small Italian mining company using hydropower to mine bitcon: ALPS BLOCKCHAIN: mining in Italy from 100% renewable energyThere was a picture of a mining rack with more or less 150 miners on it: | |  | | | Fig. 5. The largest ALPS Blockchain plant is located in Valstagna (VI). |
I called this Rack "Valstagna Window", after the name of the Central where it is located. This means that, if I got my computations right, the next difficult adjustment has been caused by a gigantic increase in the HAshrate, caused by a rise in the computing power roughly equivalent to 900 of those racks. 900.In two weeks And in the future, probably, every two weeks. Up only Quality posting from filippone as usual  Yep, and while the network is in better shape than ever, we also have taproot on the protocol side. Certainly don't need to worry about the technicals of Bitcoin itself. Price, yeah not great. My thoughts are moving to the "we are in a large sideways channel", and have been since the move from 64k to 30k. I think it is therefore very possible that we move back down to near the 30k level, but there will be a lot of stacking on the way by long-term holders and it will only possible with a collapse of the traditional markets. All very possible. |
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The same thing could of easily been written about Lee Kwon Yew, and look at how that turned out for Singapore. This could easily be a hit piece funded by his enemies (as mentioned by others), but if not, I think it is hard to judge him from our comfortable western views. For instance, let's imagine that a country is so corrupt that the rule of law is ignored at all authority levels. How would a completely pure man, reform this country with his good intentions and completely honorable actions. He couldn't, sometimes you need to fight fire with fire. So let's not be too hasty in judging him. If he turns El Salvador into a Singapore, we'll know his actions were probably justified. |
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NGL. Getting tired of this price shit...
I second that! Don't worry, it will change. * OutOfMemory goes back hibernating Yeah if that was the bounce I am very disapointed, Was thinking we'd at least get to the 45k handle. and be there for longer than a day. Oh well, on-chain fundamentals are still good and futures funding rates are saying a short squeeze is more likely on the cards now. |
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40K yesterday, 42k or 5% recovery already, nice.
Falling again though. Hopefully just a minor correction on way to >43k. |
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Eek! He just said EXACTLY what I see maybe coming. 1. Interest rates go up. 2. Markets digest this. 3. Shit begins to hit the fan. 4. Bitcoin gets hammered, going down with other risk assets. 5. Here we go... end of the world as we know it. People on the streets... crazy. 6. Bitcoin goes CRAZY up. *Sigh*. I do not want this way... "I have been at this for 47 years. I have never been as concerned about the future as I am now. Because when all else fails, they take you to war." Gerald Celente has been an uber bear for ever, I don't find him credible. |
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 Orderbook of bitstamp as shown on bitcoinwisdom. Anyone got 8.5 million for a market buy. Stock to flow still in play, lol. |
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Yeah, we're all doomed and whatnot.....
Oh well.
Question is do the bears still have enough dry powder to push us into the 30s for any significant length of time. Looks like they are struggling to be honest, but, I hear inflation numbers are due in a couple days so that might be enough to at least get us into the 30s. Perhaps not stay there though. Still thinking we should get a bounch soon, shorts must be building up. |
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Other way CB
Other way
He ain't listening. |
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This is the reason I'm not selling, I can generate enough yield off my stash to retire and even make repayments on a mortgage when I get one. Though if price does go above ATH again this year it will be very tempting to sell a few to get a better home than what just the mortgage would get. |
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Sheeeit.
Yeah My guess is we are getting a dump down into the 30s this weekend. Hopefully the last though. Gonna head off for 12 hours and not check the price. I hope that when I check the price again we have bounced from here. Got to be oversold right now. With a profile signature like that I woudn't worry much... I now draw an income from bitcoin instead of selling it, higher prices are better for that too. |
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Mozilla has lost a lot of credibility with their support of the fake left and their divisive identity politics, this announcement certainly doesn't help. But there is no real non-chromium alternative. Mozilla will probably die out completely in 5-10 years anyway though. |
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Sheeeit.
Yeah My guess is we are getting a dump down into the 30s this weekend. Hopefully the last though. Gonna head off for 12 hours and not check the price. I hope that when I check the price again we have bounced from here. Got to be oversold right now. |
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