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Shorts squeeze time! Yesterday btw on paypal were traded bitcoins for $300 mil. Imagine what will happen when bitcoin buying is allowed in the rest of the world on paypal. Then good luck to the china communist party to block people using paypal. Of course, nothing can be compared with the El Salvador news. I knew that this will happen one day, but here we are now. Every news agency is reporting this. I used to argue with the energy guys that this energy for mining is not wasted. There are many people who have no access to the banking system, while bitcoin can be easily introduced and used by them. And here is the proof - 70% of that population has no access to the banks! The implications are so many that practically every FUD invented so far is invalidated.
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It is clear that the shorting bitmex, binance, etc. dump groups are in haste to make one more long squeeze before MicroStrategy starts buying. This is the last pathetic attempt of the bears to fool the world that Bitcoin is in a bear market. Having said that, the morons who put high leverage long positions have been slaughtered. On Bitmex only, over $30 mil have been liquidated in the last 12 hours. I really don't understand why those guys prefer to lose their money by long positions instead of just buying and hodling for several years. The question is how much did it cost the shorters to squeeze those longs. They may not be in profit at all, considering that their coordinate dump is not joined by many. At least the spot exchange inflow is continuing to decline, which shows that neither STH, nor LTH have any interest to sell at these prices. On the contrary, nobody is scared and the accumulation continues. I am so well prepared for any attempt to bring the price below 30K, so no worries at all! Bring it on, bears and better hurry to cash out your shorts, because your greed will be punished if you don't do it. I want to see several billions $s short massacre on all derivate exchanges, and it will happen soon! Die shorts, die! And longs, FFS, go to spot exchanges and just buy and hodl!!!  |
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All things are going according to the plan. The first week after the dump set a 20% range, the second - 10%, the current - 5%. It is like a falling wedge but with higher lows - a clear sign that an upward breakout is coming. The weak hands are lost behind in tears, while the holders acummulate more with every hour. This 36K fake equilibrium can't fool nobody. Bitcoin is heavily undervaluated obviously. Currently only the pump and dump groups in the derivate markets are holding the price low, but not for long. If they don't close their short positions in the next few days, the incoming big buys will liquidate them quickly. I expect prices above 45K when MicroStrategy purchases ~10K BTC's in the next few days. Hopefully, this will be followed by other big investors and we will have an exciting summer aiming at 100K.
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... probably nothing here REPORT: High-Ranking Chinese Defector Working With DIA Has 'Direct Knowledge' of China's Bioweapons ProgramSources say DIA leadership kept the defector within their Clandestine Services network to prevent Langley and the State Department from accessing the person, whose existence was kept from other agencies because DIA leadership believes there are Chinese spies or sources inside the FBI, CIA, and several other federal agencies,” according to the report.
Why was the defector so important that he had to be kept under wraps?
Housley says it’s because the defector has information on the origins of the Wuhan virus: “China is trying to produce variants that suggest it came from bats to cover up that coronavirus originally came from a lab.” He later clarified: “US intelligence has a Chinese defector with Wuhan info. AND China is trying to produce variants that suggest it came from bats to cover up that coronavirus originally came from a lab.” |
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Elon Musk changed his profile...  Too little, too late.  |
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I don't think that Moron's last tweet is related to the dump. It happened 2 hours after the first leg and 2 hours before the second leg. In the last days we've had a steady growth, so the weak hands postponed their dump until 39K+. This is the entry point for many STH, so they are "happy" (mindrust kind of happiness) to quit now on break even or a small loss. Hopefully this is the last patch of losers going rekkt. Anyway, Moron is also a weak hand and a n00b. Besides, he is an aspburger, so his soul is broken by default. I expect him to dump both his own and Tesla's bitcoins at some point. This day should be celebrated, since the image of Bitcoin will be healed by another cancer lump like Roger Ver, Jihan Wu, CW and many other evil peeps. Not that Bitcoin in itself can be damaged by the weak hands though. On the contrary, the switch to more serious and truly diamond hands is what matters in the long-term. (And the aspburger guy thinks he has diamond hands. Hilarious! ) |
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It seems that the selling pressure of the STH (as glassnode calls short term hodlers with coins bought in <150 days) is fading away. This will be noticed soon by those who are on the sidelines hoping for a price <30K. The chances for that are evaporating by each hour. So, they will be FOMOed to get into the game at the current price. The shorters will have hard time trying to get some sleep from now on. The incoming short squeeze will be massive. Probably even bigger than the 40-50% shorts massacre on 25 Oct 2019. A very big green dildo is coming for ya naked shorts! in 3...2...1 |
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It is rainy and cold outside. For this time of the year it should be 30C but instead it is 15C. Because of that experts in wheather forecast are saying that this Summer is cancelled and a cold Winter is coming. If the temps were 20C then the Summer would come in Autumn, but 5C lower means that a 4 year Winter is coming.   Based on the last year scenario, if we extrapolate it, in May 2022 the world will be shocked again because of the 50% crash to 340K. Some of us will rebuy most of the coins. This is a future pic of the poor me rebuying 90% of the coins back |
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Where is the promised Sunday dip below 30K? Some twitter accounts promised it this week? What happened, is it late or is it canceled?  #nevertrusttwitterandproudhon |
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First of all already one year has past away in reaching the next halving.... second people really losing there mind fast.... first question do you really need the FIAT and if you really needed it, then 50-60k was a long period and nice price to take a little to cover stuff....
But to many negativity from experienced hodlers imho
They need a shift kick in the fucking ass. Lack of testicles or to quote a Staten Islander they have "Tick balls" Don't think any of us have actually sold though, in fact I've been buying (everytime I get paid), because that's what you do in dips. LFC bought all his back too I think. But It's realistic to look at this run and think it may be over due to what we've seen. In the last cycle ATH everybody was still adament the bull run was not over even after it had dipped 50%, there were some recoveries and I remember Bob retired on one of those. But many (Jay specifically) were denying it for a very long time and only after it went through the 6k level did that actually convince the die hards. I think its sensible to think that a >50% dip could indicate a bear market. Hopefully, it's not long though and we see a 2013 scenario. A 2013 would make sense with what's going on in the world right now, and the interest we are seeing from the big names. But a 50% correction is pretty fucking decent, that's what happened to stocks in 2007. I agree that this could be the beginning of a bearish period. But it seems to me that you concentrate too much on the 50% correction as if this is something much different than the multiple 40%+ corrections we had in 2017. In fact, it is only 10% bigger. Why should it matter so much? Besides, we've had only 2 weeks of this dump. On the 3rd week we've had some recovery and we are now 15%+ the bottom. If each week that follows this 15% increase to the previous is being kept, then in 6-7 weeks the price should return to 60K. On the other hand, if we repeat the 2018 market which was after a 33x increase, the price may fall 70% which is around 19K. But is this realistic and for how long it will last? To stay one year and then another 50% drop below 10K? I really doubt that this is what is going to happen. But of course there are enough twitter pundits who have such wet dreams. So, in case bears try to dump below 30K, load your excanges with fiat and BTFD! Btw, the lower 2x line shows that the minimal price at the end of 2022 should be $51200. This should give you a hint that a prolonged bear market after only a 6x increase from the last year is theoretically improbable and practically impossible. |
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It seems to me that the traders prematurely ejaculated dumped their bitcoins in the fear of the "certain" Sunday 20% dump. But in the Bitcoin world there are no certain things. If the bears fail to dump the price below 30K, the market will turn against them. I think that the last ATH is a fake top of this bull market, since the holders are not reacting the way bears hope. The long term hodlers are not disturbed and continue accumulating more cheap coins. The real top should be above 100K at least. The more it is delayed, the higher it will be. It may turn into a bull supercycle covering the next 1-2 halvings, with occasional 3-6 months fake bear periods. I don't see how 2018 will be repeated with the current ATH. Now everyone knows what Bitcoin is capable of, so apart from the imbecile trend followers, nobody with his sound mind will miss the chance to buy at the current prices or lower. Of course, for several weeks the big investors will wait for the dust to settle, but then they will return, leaving leverage shorters in dust and tears.
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Come on, Winnie the Pooh, after another 10% dip it is time for some chinas FUD. Moron Musk, you can join in too. Tweets coming in 3,2,1... Coal, digital yuan, bla bla bla.
Honey badger doesn't give a f@ck
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@glassnode The Grayscale $GBTC Discount has risen from a peak low of -21.23% to a smaller discount of -3.8%. $GBTC has sustained a discount to spot #Bitcoin prices for 3 months. Positive price momentum started on May 12, early in the current correction. https://twitter.com/glassnode/status/1397059742019686400It seems that institutions were also very active yesterday, bying the dip in Grayscale shares. Let's see if this will unleash the beast like in 2020. |
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So what happened in May? Weak hands sold ~1M BTC in May at $30k-35k .. which they bought in April at $55k-60k: a staggering ~$20B loss. The good news: these 1M #bitcoin are in strong hands now. So it's just another shake-out to convince people to sell their Bitcoin cheap, before the bull run continues. Makes sense  I'll have to wait for the weekly glassnode report, but it seems to me that neither miners, nor LT hodlers were involved in the last week's crash. I don't know from where PlanB is getting this info, but most probably it is true. There are no signs of changing the general mood to a bear market among the LT hodlers, unlike the 2018's crash from 20K to 6K in a month. The things may change quickly, however, so the next 2 weeks will be crucial for the determination whether we are still in a bull market. I really hope this is the case, because I don't want to wait 4 more years to get past 70K. Today's recovery 20%+ (oh, look, we are now above 37K) is a step in the right direction. If the price recovers to 50K+ in the next 2 weeks, as if nothing happened, that will be awesome. Then we can expect not only 70K but 100K to fall this year. And this is where the weak hands capitulation plays a big role. Instead of selling on a profit at some random resistance above 50K, making it very difficult to break, they've already sold their coins. So these potential resistance lines will be overcome faster and with less volume. |
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