Asia always with the selling  |
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For anyone who missed the dip, now is the time to try again. If you pussy out you'll regret it in a few months I reckon.
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 Awesome image Let see how long they can hold? A day? A Week? That’s it? My bet, ATH in January. Excluding any bullshit by the FED. Why not Dec who’s stopping? Fed.? We had a pretty big flush, it will need a bit of recovery time I think, so January is my bet. |
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Awesome image Let see how long they can hold? A day? A Week? That’s it? My bet, ATH in January. Excluding any bullshit by the FED. |
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Shitcoins have come back very strong, good portion of them have completely elimanted their weekend losses and are up on the week. Bitcoin looks very tired and heavy in comparison.
To me this could mean 2 things. 1) no significant retail buying is happening with BTC anymore. or 2) BTC investors know something that the shitcoins don't, which is most likely more dumps on Monday. Or I guess both.
Don't like any of those options honestly.
For me the problem is not the lack of a retail interest. The problem is that anytime the price increases, immediately it is pulled back by the bots of Binance traders. And the reason for this is that probably too many monkeys are fighting for one banana, i.e. too many are trying with a leverage from 10x to 100x to make some profit. Hence the increased number of long positions - since the first big crash in May, they tried to compensate by investing again at prices which were looking stable - around 59K. And because the bots of all exchanges are using Binance price, the role of short and long positions there has become crucial, like Bitmex in the past. The only difference is that Bitmex manipulators used Bitstamp and Kraken as low volume exchanges to bring down the price, while now Binance longers are selling on each miniscule price increase on Binance to get some profit. The effect is the same. They failed once again, losing all their investment. Before the crash on Binance there were 2.7 bil longs. After the crash only 1.5 bil survived. The quiestion now is when the gravity of this always losing game will be overcome and the price starts to climb again. Hopefully the effect will be felt as early as the next week and it will continue until the n00bs take loans and open another 100x leveraged longs somewhere between 120K and 200K. It is funny how the new ATH's make everybody happy, but only the hodlers can realize profits. Definitely not the naiive wet-dreaming long gamblers aka nocoiners, who end up with red eyes and empty pockets... ALWAYS. I think proudhon is one of them, once having thousands of bitcoins, which were lost on stupid shorts and still waiting for the price to falls to 100$. Now, this is the definition of pathetic  Yes the influence Binance has over this market is disturbing and I felt the same way about bitmex. I wonder with these exchanges though, are they also doing the dodgy themselves, are they manipulating the price. Let's face exchanges are a black box, they get up to all sorts of shit, Binance has always avoided regulatory scrutiny where it can and I don't think it's because they are libertarians. What do you think? could Binance be manipulating the situtation in anyway? There is one major difference between Bitmex and Binance. Bitmex owners are well known scammers, who were often accused of foul play against their customers. I haven't read anything similar for Binance owners, which doesn't mean they are alright, of course. Surely there are all kinds of manupulations on most of the exchanges. But I think that the main force which is restraining the prices and causing sporadic dips and crashes is the irrational volume of long liquidations in Binance. I've been watching the liquidation data closely and each time there is a 2-3% dip there are 5-10x more long liquidations, compared to short liquidations during a 2-3% price increase. This shows that the shorters are more cautios this year, while the longers are quite reckless. In general, what happens in derivate exchanges stays there. But Binance is an exception - it is simultaneously a derivate and a spot exchange. So what happens there has a real impact on the price. The volume above 40K bitcoins each day is beyond the power of a single whale. And the liquidation data confirms that there are millions of longers losing ~100$. It is like a new Tortuga attracting all kind of wastrels and seekers of treasure. They refuse to invest and hope to get lucky, not caring about Bitcoin or the odds of winning. And if they claim here the odds are good, then they are surely applying proudhon's math and science  . Ok sounds fair enough, so the longs are using excesive leverage but the shorts are not. At what point does this end though because it is somewhat frustrating (I don't expect an answer)? |
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Shitcoins have come back very strong, good portion of them have completely elimanted their weekend losses and are up on the week. Bitcoin looks very tired and heavy in comparison.
To me this could mean 2 things. 1) no significant retail buying is happening with BTC anymore. or 2) BTC investors know something that the shitcoins don't, which is most likely more dumps on Monday. Or I guess both.
Don't like any of those options honestly.
For me the problem is not the lack of a retail interest. The problem is that anytime the price increases, immediately it is pulled back by the bots of Binance traders. And the reason for this is that probably too many monkeys are fighting for one banana, i.e. too many are trying with a leverage from 10x to 100x to make some profit. Hence the increased number of long positions - since the first big crash in May, they tried to compensate by investing again at prices which were looking stable - around 59K. And because the bots of all exchanges are using Binance price, the role of short and long positions there has become crucial, like Bitmex in the past. The only difference is that Bitmex manipulators used Bitstamp and Kraken as low volume exchanges to bring down the price, while now Binance longers are selling on each miniscule price increase on Binance to get some profit. The effect is the same. They failed once again, losing all their investment. Before the crash on Binance there were 2.7 bil longs. After the crash only 1.5 bil survived. The quiestion now is when the gravity of this always losing game will be overcome and the price starts to climb again. Hopefully the effect will be felt as early as the next week and it will continue until the n00bs take loans and open another 100x leveraged longs somewhere between 120K and 200K. It is funny how the new ATH's make everybody happy, but only the hodlers can realize profits. Definitely not the naiive wet-dreaming long gamblers aka nocoiners, who end up with red eyes and empty pockets... ALWAYS. I think proudhon is one of them, once having thousands of bitcoins, which were lost on stupid shorts and still waiting for the price to falls to 100$. Now, this is the definition of pathetic Yes the influence Binance has over this market is disturbing and I felt the same way about bitmex. I wonder with these exchanges though, are they also doing the dodgy themselves, are they manipulating the price. Let's face exchanges are a black box, they get up to all sorts of shit, Binance has always avoided regulatory scrutiny where it can and I don't think it's because they are libertarians. What do you think? could Binance be manipulating the situtation in anyway? |
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Shitcoins have come back very strong, good portion of them have completely elimanted their weekend losses and are up on the week. Bitcoin looks very tired and heavy in comparison.
To me this could mean 2 things. 1) no significant retail buying is happening with BTC anymore. or 2) BTC investors know something that the shitcoins don't, which is most likely more dumps on Monday. Or I guess both.
Don't like any of those options honestly.
Haha made me smile! Last time "significant retail buying" of BTC happened back in December 2017! Does that mean we're still in a bear? We're not observing shitcoins here. The fact that some of that crap "came back very strong" doesn't mean a shit. All shitcoins are doomed (well, most of them).  I've noticed that there are times like this after a dump where BTC doesn't come back as strong as the shitcoins and this often preceeds another dump, at least back to the recent move's lows. The movement of shitcoins are absolutely relevant, just like they were in early 2018 when they were going strong but BTC was not. BTC retail buying will of course come back, but that is not when shitcoins are pumping. I don't think we are in a bear market, on-chain shows nothing of the sort at the moment, but I don't think its all up from here, though I hope I'm wrong. Even if that means my buy order at the recent lows is not hit. |
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Shitcoins have come back very strong, good portion of them have completely elimanted their weekend losses and are up on the week. Bitcoin looks very tired and heavy in comparison.
To me this could mean 2 things. 1) no significant retail buying is happening with BTC anymore. or 2) BTC investors know something that the shitcoins don't, which is most likely more dumps on Monday. Or I guess both.
Don't like any of those options honestly.
i doubt if dumps would really happen on monday. however, if it occurred, it would be a real disaster to a lot of margins going for long, causing domino effect crashing almost every single normal altcoins including bitcoin itself. this is very likely transitory but maximum fear during it. There is still the Omicron and FED FUD going around. It's very possible that the traditional markets could bring us down further, unless that all gets solved early next week. i think that the whole market is on the "extremely overvalued" status, meaning the market is on the extreme bubble. if the market is still going down further, to a point it will burst the bubble and the whole world go into the end of finance. some people suggested that the Fed paid a lot to let certain funds buy junk bonds like Chinese properties and used for ETF collaterals, such as Evergrande that is on the verge to become insolvent towards its offshore bonds. if it's declared insolvent, those collaterals are worthless to liquidate. even more, if the Fed fails to raise its national debt ceiling before 2021.12.15, it will become insolvent as well. if everything comes together, then it's the end of the world finance i am talking about. to the whole crypto market, it's not going to be immune either especially if any major stablecoin becomes insolvent. The FED will not let things fall apart. To allow deflation at this point with such high debt levels across the board would absolutely lead to destruction that is far in excess of the 1930s. So yeah the FED is not going to pull support they can't, but, there is the little game they often play where they make out they are going to be responsible but when things go too far they do a u-turn. The concern that we face next week is that the FED has not made that u-turn yet, and markets will keep pressure on until they do. Regarding the national debt ceiling I think I read on the weekend that it has been extended till February, so shouldn't be an issue. Once again though the ceiling doesn't matter it will always be extended. Same as the FED will always print. The USA can't be insolvent in the traditional sense, they control their own fiat and can produce as much of it as they want. The producing can be hampered sometimes by the private banks not lending (money is created by private bank lending), but they seem to get around that these days through fiscal stimulus (and soon CBDC, where everyone can then hold and spend cash reserves). |
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Shitcoins have come back very strong, good portion of them have completely elimanted their weekend losses and are up on the week. Bitcoin looks very tired and heavy in comparison.
To me this could mean 2 things. 1) no significant retail buying is happening with BTC anymore. or 2) BTC investors know something that the shitcoins don't, which is most likely more dumps on Monday. Or I guess both.
Don't like any of those options honestly.
i doubt if dumps would really happen on monday. however, if it occurred, it would be a real disaster to a lot of margins going for long, causing domino effect crashing almost every single normal altcoins including bitcoin itself. this is very likely transitory but maximum fear during it. There is still the Omicron and FED FUD going around. It's very possible that the traditional markets could bring us down further, unless that all gets solved early next week. |
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Shitcoins have come back very strong, good portion of them have completely elimanted their weekend losses and are up on the week. Bitcoin looks very tired and heavy in comparison.
To me this could mean 2 things. 1) no significant retail buying is happening with BTC anymore. or 2) BTC investors know something that the shitcoins don't, which is most likely more dumps on Monday. Or I guess both.
Don't like any of those options honestly.
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Glad to see the market has bounced back, I just wish BTC was a part of it.  At least it's not the worst performer I guess  |
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Just had a thought. Being that all Macca's staff will eventally be bitcoiners once we crowd out the no coiners there, we should go about setting up our own union and strike till Macca's goes all in on BTC. That might get the price up. Let's just hope they don't descriminate against us in their hiring practices. |
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 I just love the fact that El Salvador laughs in the face of this dip and buys more. This is more bullish than any $10k dip. I'm guessing Microstrategy has probably done the same, and every other entity which understands what bitcoin will become. heheh I like him  Let's hope it pays off for him sooner rather than later. |
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I just love the fact that El Salvador laughs in the face of this dip and buys more. For every seller there's a buyer  I understand the buyers: if something went from $68k to $48k, that's a great bargain! I totally don't understand the sellers: if you didn't sell at $68k, why on earth would you sell at $48k? Because you are leveraged up the ass. And then there are the ones who are just inexperienced. Don't worry they'll buy again near the ATH. |
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RIP to the leveraged traders. Moment of silence.
This sell off was ugly. Now the question remains, do we gap down to $41K or do we have the all clear for launch now that all the leverage was cleared out of the system? I’m personally lost for direction at the moment so it’s a wait and see situation for me.
The amount of money my portfolio lost today was shockingly impressive though. I’m not even mad.
Wouldn't be surprised if we move back to the 41k area, that's where I would be putting larger buys anyway. While it's been a big day, there is still the omicron and FED issues floating around in the traditional markets. These events will probably continue to affect us, so next week may help us determine direction from here in the short to medium term. |
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No you are not a bad person, these gamblers are reckless and should know better by now. Hopefully they have learned a lesson this time but I doubt it. My guess is that Binance account holders are mainly Asian, for some reason in Asia they just love to gamble. I've never understood it. I very much wish Binance would lose its influence on the market, I just don't trust the place. |
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Wonder what happens on Monday when markets open, if they dump, will BTC continue to dump???
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40% correction from 69k to 42k |
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