Good morning WO OG! I've slept like a baby through all the dump  This put a wide smile on my face. Reasons: The dump hurt a lot the trend followers! I just can't imagine the pain of these morons, losing 5-10% each day for the last 3 months. And look at the volume on the major exchanges! For 3 hours the sold BTC's are equal to the typical 24-hour volume! All these BTC's were a heavy burden which is now removed. The trend followers were the reason for the resistance at 60K. Squeezing 1-2% profits, while taking multiple 5-10% stop losses is their idea of making a living. Poor morons. I mean, literally. I call this The HoDLer's Test.
If you are not worried right now, and even make fun of it, well done, you are a seasoned, hardened, true HoDLer.
Whoever logged in to an exchange right now, with the intention to sell, don't forget your pacifier and diapers, and avoid light-colored pants. You are a sissy-ass HoDLer, soon to be parted from your corn.
Or course there will be an ATH, and sooner than some think. This is just an outlier, a glitch that will once again prove the robustness of Bitcoin.
One more obituary added. Been there, done that.
I wasn't worried dipping 50% below my investment point for 3 years, why should now I be worried Each dip should be used to buy moar, because the return and the profit is guaranteed. That's the end of the bull market until september/october. The media will spam the sheeps for weeks with elon's tweet. In a few months the big guys have their pockets full of cheap btc and will then push the market to >100k $. See you again at the end of this year. Enjoy the show, and more importantly, enjoy your life.  No, I don't think so. This dip only can accelerate the next bull run. Bitstamp's buying 2K wall down to 41.3K hasn't moved as bears hoped. So, bears failed once again. Their dreams for cheap coins are dead now. They've got the rusty pipe! With all these tens of thousands of BTC's transferred from weak hands to strong hands it makes the new ATH and reaching 100K very, very close. That is some accelerated recovery going on. Faster than a Tesla.  Congrats to the dip buyers. As I've noted before, the liquidity of the exchanges in terms of fiat is pretty good. Elon is a moron in some respects (tweets mainly) causing his own investments to shrink. He has done that with Tesla's stocks as well. A weird asperger guy, you know. Of course respect for his space program. Anyway, the recovery is almost complete and I can hear the drumroll of an incoming 100K! P.S. The options for one of my next cars were reduced to two: 1. Audi e-tron GT. 2. Lambo spider evo. 3. Tesla |
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Every time Bitcoin price fell to the low $54000 and then again pulled back, how long the uptrend will take resume?
Bulls might busy on other side, unless the bulls bought the dips won't see $60K..
There's constant uptrend, and also outflow from exchanges. Just these regular dumps to certain ranges start to smell fishy, but it can't go on forever. Some characters take advantage of some kind of manipulation, and regarding the price and periodic aspect, i think it's about accumulation. More on the conspiracy side, regularly pulling down bitcoin to make it look unprofitable could also be an explanation - could be, but that's all conspiracy theory for sure. About these dumps, I think it is true - all of it. The same thing happened with 9K-10K range resistance for quite a few months. Now it is slightly different, but not that much. Previously, we had barts every other day, which I suppose were thanks to Bitmex. This was openly and blatantly demonstrated with no fear of being punished until CFTC busted them. Now we have a different pattern, which repeats each day around the same hours. It is like the hat symbol "^". 12 hours of pumping and harvesting longs and then 12 hours of dumping and harvesting shorts. But the other theories are also valid in one way or another. The shitcoin pumps are not an accident. They are pre-planed months ago. For the fulfillment of this plan it is necessary that Bitcoin is not allowed to increase, but to be restrained artificially in some narrow 10% range. That is why historically, the main shitcoin pumps are accompanied by Bitcoin sideways movement. A strong Bitcoin breakout in either direction will put and end to their pumps prematurely and they won't get profits from dumping their own shitcoins on the exact price. In that case, their Bitcoin reserve must be depleted soon and Bitcoin will break the resistance heading to 100K. Every shitcoin will crash 50%+ by then for sure. |
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The earliest possible date for the full POS switch is Q2 in 2022. As for the gas decrease, the July HF can help a bit but I'm not sure. The information I have is that the only thing that will change is instead of going to the miners, the gas will be burned. In other words, it is devised only as miners punishment, not related to the way smart contracts are executed. Nor this is related to the generation of new eth as many wrongly think. The gas is not a block reward, it is an additional payment from the smart contract makers/takers and transaction fees. I really don't see why is this hostility from the devs against the miners, since eth is what it is mainly because of the miners. If they didn't support the project especially in the early years, eth would have been long forgotten.
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Biden Proposes $2 Trillion Bill To Study What's Causing Inflation Rates To Rise.President Biden proposed a $2 trillion spending bill Monday for the purpose of determining the cause of rising inflation. This is Biden’s fourth proposed $2 trillion bill in as many months.
“The cause of inflation is a major concern for all Americans,” Biden told reporters. “Rest assured, your government is committed to spending however much taxpayer money it takes to get to the bottom of this malarkey!”
According to Biden, the cause of the rapid increase in inflation has been baffling his economic experts for weeks. “All we know is that some mysterious event happened around January 20th which caused inflation to skyrocket out of control,” Biden said. “We don’t know what that event was exactly, but we do suspect President Trump was involved somehow. And maybe Russia.” I don't know, may be the crazy $ printing in the last year has something to do with it? Just a hunch. I can accept the $2 trillion prize for the right guess in the form of BTC's. Thanks in advance! |
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It is obvious that shitcoins short-lived pump is stalling. A new harvest of shit-bagholders is being formed. First, they won't be willing to sell at -40% discount. Then they will be frustrated at -70%. And at -95% they will cry to return at least to -60% to invest in Bitcoin. Anyway, the next week shitcoins will be flushed and king Bitcoin will shine again with a steady growth. I expect over 70K in 1-2 weeks.
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These tables are quite confusing for me. I use only https://www.bybt.com/Grayscale where I can see 653K BTC's in Greyscale possesion. And this hasn't changed for 3 months, meaning no buying occured. Which is strange, since the other day they announced a buy for $200mil which would be 3-4K BTC but this is not visible on the chart. They also are going to buy more with $550mil in the next days/weeks. And that negarive premium - to whom are they selling those shares? |
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What will happen to btc price once they (exchanges) run out? Someone calculated that projected time for that is 122 days or so
 people always post this retort bs, but we all know that after summer comes fall, right? it's not like suddenly, you get winter immediately after the summer, so some trends or patterns exist. In any case, there is another rule (that is proven to be correct): the longer the trend persists, the more likely it would continue. The trend of declining btc on exchanges is already continuing since Jan-Feb of 2020 and is only accelerating, so it is quite reasonable to expect eventual btc depletion (on exchanges), maybe not to zero, but to a sufficiently lower number to cause high volatility. Well, this is a deep question! It is related to the liquidity in terms of bitcoins. And the liquidity is related to the role of derivate exchanges and SEC decision about an ETF. In the past the US exchanges had not a good liquidity in both ways - fiat and bitcoins. Because of that, we've seen many exponential pumps like the 66% increase in 2 days in Dec 2017. And after that the opposite - 70% crash, which started a one year bear period. Now, things are much different - there is a good liquidity in terms of fiat. Elon's "test" is a rock solid proof for that. This prevents any crash bigger than 30% to happen. On the other hand, the liquidity in terms of bitcoins is bad and the trend of exchange reserve will make it much worse (which is good for the hodlers of course). But as we have seen some charts recently showing the negative role of the derivate, options, etc., there are some entities probably in USA which specialize in making profits by shorting. Just like those institutions involved in gamestop stocks shorting. They are the real threat to the price and always put traps hoping for the price to stay endlessly in some narrow range. However "their bills are made without the bartender", as we have a saying in our country. Because of the low liquidity in terms of bitcoins, the price shoots up unexpectedly at some point, liquidating all these shorts. This is the hidden reason, why SEC is against an ETF. At anytime an exponential increase of the price can happen, leaving shorting companies helpless. And they don't have friends to give them bitcoins, nor they can make a call to the chief of bitcoin and say: hey, liqudate all longs and bring us more bitcoins, like those VIP institutions did with the robinhood puppet. But let's return on the question. My observations using Glassnode is that since the peak of exchange reserve 3.03mil bitcoins on 17 March 2020, the trend is almost as a line downwards to 2.15mil bitcoins currently. This makes 29% decrease for 13.5 months, paired with a 6-7x increase of the median price. If the trend continues, in 2 years there will be almost no bitcoins on the exchanges with a 50x increase of the price. This is just extrapolating of course. In reality derivate exchanges will put multiple traps, but bitcoin will evade them much sooner than the wall street pundits believe. So, good times are coming, that's for sure. |
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This shitshow going on is so like in 2017. Average Joes who don't have the guts to buy and hodl Bitcoin see the daily shitcoin gains and think they will get rich overnight if they buy now. Because $3400 for shitcoin1 is way cheaper than 60K for 1BTC, and so on. What they don't understand is that during the night the shitcoin may lose 40% and this will be just the beginning of the end. Although some shitcoins survived one bear market, most of them didn't, so there is no guarantees it will survive again. For example shitcoin1 crashed from $1400 to $80 in 1 year. Nobody believed it will recover, but miracles happen sometimes. Will this happen again? I really doubt it.
tl;dr. Let's focus on the imminent 2-3x increase of the price, which will cross an important milestone of $100K. Will it happen in the next few weeks? Or will this shitshow delay it with several months? Anyway, it seems inevitable. Although I prefer the quick version, the longer version has a bigger chance of extending the top by another 2-3x up to $333K+, like in the second half of 2017.
P.S. It is funny that most shitcoins have 2 digit daily profits, while Bitcoin has 5% daily loss. I can only imagine the distress of the daily traders who sell with stop losses screaming like little girls. And this is happening over and over again. I don't know if this is plain stupidity or trying to profit from leveraged shorts (which is tremendous stupidity), but either way it is pathetic.
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The usual traders reaction to the news that Grayscale bought last week 4 000 BTC and is going to buy another 8 000-9 000 BTC: 1. Dump BTC price by 3% (starting from the top 59K today when the news appeared in twitter and coindesk) - check. 2. Pump shitcoins price by 10-30% - check. Meanwhile, the Canadian analog of Grayscale is filing an ETF, converting its Bitcoin trust. https://www.theblockcrypto.com/linked/103442/canadian-bitcoin-trust-convert-bitcoin-etf-grayscale-ninepointThe same process is underway with Greyscale, which will remove the negative premium. The question is when the first US ETF will be approved by SEC. The next possible date is around mid June for Vaneck, which probably will be postponed for November. However, I have some reasons and I won't be surprised if SEC approves it in June. Of course, later SEC will approve Greyscale ETF as well. Also, revolut is preparing bitcoin withdrawal possibility: https://www.altfi.com/article/7851_breaking-revolut-announces-bitcoin-withdrawals-in-hastily-deleted-blog-postThis will make paypal and other platforms to think about it too. |
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Can we trust Fox News?  Don’t tell me they got this rumor from WO? It started with a tweet by Alister Milne: RUMOUR: Facebook will annouce they hold #Bitcoin on their books when they release their quarterly results after trading closes tomorrow — Alistair Milne (@alistairmilne) April 27, 2021 It was supposed to be a joke to see whether the market will move. It did not  Anyway, in 2.5h we will know for sure on their online presentation: https://lumen.webcasts.com/viewer/event.jsp?ei=1448878&tp_key=6c820d0d7e |
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This Tesla's liquidity test sell is of course a cover-up for turning Q1 to profit for Tesla. But it may have a positive long term impact on the mass adoption among the institutions. Some of them are still hesitant because of the fears of liquidity issues. Even Musk at first raised a doubt about that. And of course, SEC denied ETF's mostly because of the low liquidity of the US exchanges, which makes Bitcoin volatile and susceptible to manipulations. It is like a pop quiz in school. Now everyone has a proof that the liquidity is there and every institution may sell big amounts with a little discount. So, this is another victory on the way to the first ETF's approvals later this year. But for me at least, there is another major reason for all what happened in the last 6-7 months. In the years of bear market I sometimes expressed regrets about these endless barts caused by the owners and close friends of Bitmex. I remember one post, when I said that the price would had reached 100K in no time if Bitmex didn't exist. I was opposed by r0ach, who claimed that prices above 10K are not sustainable because of the miners profits getting too high. Of course, no need to explain to the moron the elementary things. Coincedence or not, but on that very day, when CFTC accused Bitmex, the barts suddenly stopped. And since then I can't find evidence of derivate manipulation. As a consequence, Bitcoin has become less volatile which is quite appealing for the institutions and billionaires. I will go even further and say that Bitcoin won the war with the derivate manipulations and all these round numbers 100K, 1mil, etc. are just a matter of when, not if. In particular, one day the US government will decide to build and maintain a Bitcoin reserve, followed by governments and financial institutions worldwide. Just imagine that - almost everyone will prefer to receive their salaries in Bitcoin and people like mindrust will realize how big their mistake was. For how long peeps like that will keep refusing to use BTC in credit cards, paypal, amazon, etc.? One - two years max. And imagine mindrust buying satoshis at price around 1mil to be able to buy a vacuum cleaner on amazon? That will hurt a lot! tl;dr. In case there are still peeps who plan to exit with most of their stash, a word of warning: It is better to sustain a fiat/ BTC percentage and never exceed it. For some it is 1/99, for others 33/67 or even 50/50. But everything above 75/25 may and will turn into a disaster. Of course, the ratio is individual and it depends on the age and the plans. For peeps still far from a retirement 0/100 is not bad at all  |
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I really don't trust this dip to be sustainable. The bears spent too much coins trying to keep the price below 50K. This is their last chance for cheap coins. Breaking of 100K can be done in less than one month, solely by Microstrategy or Elon Musk, not to mentioln the expanding mass adoption. And currently two market indicators are raised as warning flags of an incoming bull run. First, depth charts are hugely in favour of the buyers. In Bitstamp there are over 2.1K BTC in buy orders down to 41.3K, vs 291 up to 55K. Bears are now quite pissed off by that. So much efforts in twitter fake accounts, fud, etc. and now they even can't keep the pirce under 50K! Second, RSI (14) is the lowest in more than 9 months, so it only can go up from now. And there are countless other market indicators like the BTC reserve on exchanges which continues to decrease. The possibility of reaching 100K in the next few months is quite big, IMO. And if the ETF news comes at prices near 150-200K, that would be awesome. Gold, we are coming for you! |
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