https://twitter.com/ChartVampire/status/1124188235456962560







Is this pamp fucked up and gonna end in a blow off top and the demise of a huge exchange, probably, but IDGAF rn. I need 8K in my veins rn!

139 days into the new BTCaby BTCull Market and all is well. 

https://www.scmp.com/sport/mixed-martial-arts/article/3008309/id-smash-iranian-hulk-says-ufc-star-brian-ortega-instagram

"UFC star Brian Ortega says he would smash “Iranian Hulk” Sajad Gharibi if they clashed in the Octagon despite weighing about 240 pounds less than the Instagram monster"

The guy is massive, but he is using photoshop like an instagram bimbo to make his waist much smaller and give him the cartoon character/hulk look.

https://www.youtube.com/watch?v=JlGUpZ06SQM

Twats that you say, I cunt hear you.

10k tonight?

Activate Bitfinex Bank run panic mode. 10k by Monday night.  

Regulators tried to fuck us and just pamped it on accident.


If you still have money on Bitfinex and are just too cheap to pay the spread and buy the overpriced BTC to pull out your money, well you deserve whatever happens to you for being an idiot. Get your coins off of there now!

Bitcoin sign guy is a Shitcoiner now.

Coindesk reporter tweets:

https://twitter.com/nikhileshde/status/1124041880541462533

"1/ Buried in this doc is a seeming confirmation that Fowler was indeed behind Crypto Capital, and @bitfinex did lose access to $850m as a result of this investigation"

USG seeking to hold Reginald Fowler without bail. This also backs up Bitfinex's story about losing 850 million bc of Crypto Capital. It also calls into question their claim it will be freed up in "a few weeks".

It appears to me that USG may have the $850 million which gives them 850 million reasons to destroy Bitfinex. Its kinda hard to sue the gov for 850 million when you are in prison.

Sharks are circling.

https://www.youtube.com/watch?v=WYRJ-ryPEu0 x850

It may be a horror for shorts and cause real fear at Bitfinex to where everyone trades tethers at any price for Bitcoin to get them the fuck outa Bitfinished and we pump to 10k by Tuesday.  

Probably the real horror will be for foolish tards with money on Bitfinex and the Bitfinex execs worried about the Booty Warrior coming for them. https://www.youtube.com/watch?v=n9WClv4U5B8



I dunno wtf is going on LOL.

So Friday Bitfinex legal team and NY AG prosecutors will meet in court. Good news is this will likely be a nothing burger and no new evidence/Fud will be presented.

What may turn out to be very bad news however is the fact that on Monday at 2:15 eastern time, the NY AG prosecutors have been ordered appear in front of the NY State Supreme Court to present evidence ("show cause") as to why there case has merit and should not be vacated.



Why Slayer you may ask could this be a Fudsters dream??



Because prosecutors generally hold back as much evidence as they can when first bringing cases forward. They do this because not only are they pricks, but because the less the defendant knows about the evidence the more intimidating it is. Defendants enter a state of panic wondering about all the misdeeds they have ever done. This is not only an intimidation tactic but it can act to cause a defendant to get sloppy and start tipping of the prosecution by making calls or sending emails that may be monitored as they scramble to cover their tracks.

Now the NY Supreme Court is forcing the AG's hand and they will have to reveal at least some juicy evidence which may give the Fudsters the ammo they crave. The fact that the Arizona man and Israeli woman were recently charged is likely not a coincidence as their testimony against Bitfinex executives would go a long way towards showing cause.

https://www.justice.gov/usao-sdny/pr/arizona-man-and-israeli-woman-charged-connection-providing-shadow-banking-services

"U.S. Attorney Geoffrey S. Berman said:  “Reginald Fowler and Ravid Yosef allegedly ran a shadow bank that processed hundreds of millions of dollars of unregulated transactions on behalf of numerous cryptocurrency exchanges.  Their organization allegedly skirted the anti-money laundering safeguards required of licensed institutions that ensure the U.S. financial system is not used for criminal purposes, and did so through lies and deceit.  Thanks to the investigative work of the FBI and the IRS-CI, they will be prosecuted for their actions.”

FBI Assistant Director William F. Sweeney Jr. said:  “Lying to banks and skirting the regulations put in place by the banking industry is a violation of federal law, a crime both Fowler and Yosef are charged with today.  Taking it one step further, as alleged, Fowler himself directed the ebb and flow of significant amounts of money to and from these various bank accounts, despite the fact that he was not licensed to do so.  May this be a reminder to all that there are consequences to engaging in fraudulent behavior and risky business practices.”

IRS-CI Acting Special Agent in Charge Jonathan D. Larsen said:  “As this indictment shows, IRS-CI will continue to follow the money, no matter if it's virtual currency, to bring criminals to justice. This should serve as a warning to cyber-criminals who think they can hide behind virtual currency that IRS-CI is fully committed to unraveling these schemes.”"


Here coindesk lays out claims that these two "criminals" were connected to Crypto Capital and Bitfinex

https://www.coindesk.com/two-charged-with-running-shadow-banking-service-for-crypto-exchanges



Rest assured that behind the scenes multiple regulatory and law enforcement agencies are conspiring together to get their paws on Bitfinex money and to make juicy career enhancing headlines for themselves. The arrest this week was just the first signal the sharks are circling. You can see here the US AG, The FBI, and the Criminal Investigations arm of the IRS each are involved with these arrests and no doubt they are trying to tie it to Bitfinex. We already have three grubby parasites putting their names in press releases as they seek money and glory from cracking down on the evil and dangerous and ever so naughty   Bitcoin world.

So far the AG has signaled that this is a cash grab/shakedown of Bitfinex bc they know their is money to be had from the large exchange. My guess is that if Bitfinex gets too feisty in fighting back that the AG will use the threat or act of escalating this to a criminal case to force the Bitfinex execs to bend the knee and hand the AG the shakedown money that she inevitably wants her paws on.



The State Supreme court could certainly rule against the AG, but in general when you go up against the government in court its all just a kangaroo court and the rubber stamp comes soon enough from one crony to another. In the case of a Bitcoin exchange looking for a fair shake in a liberal state where the entrenched financial interests that run the state despise Bitcoin, expect the court to be in ultra Kangaroo mode.



TLDR - potential huge Fudstorm Monday, trust no one.




UPDATE: Last of V8s kindly pointed out that both fraud suspects were not arrested. Reginald Fowler was arrested and as far as I can determine a warrant has been issued for the Israeli female but she is not in custody atm.

https://www.si.com/nfl/2019/05/01/alliance-american-football-reggie-fowler-investor-arrested-bank-fraud

Also I have since noticed the Feds have already seized some of Bitfinex's missing money.

https://modernconsensus.com/cryptocurrencies/tether/feds-justice-hsbc-account-bitfinex-seized/

They know they will easily defeat the Kissless Virgin Roach with one call to the homeless shelter saying we are cutting off Bitcoin donations if they dont suspend your wifi privileges.



and FFS tell your lover Gembitz to lock its bike up, thats not a safe neighborhood.

Thank you kindly for this masterpiece. I will wear it with pride starting May 8 when I will consider the BTCaby BTCull Market to have matured out of infancy.

Brilliant

level 1
Wesleypipes421
Bitcoin Maximalist
63 points
·
8 hours ago
·
edited 7 hours ago

"So I've been doing some research to identify the key macro thematic going forward for FX trading and I think I've discovered something really interesting relating to BTC by accident.

Basically I've been comparing certain FX pairs to the Ishares emerging market ETF (based on the MSCI EM index) to see correlations and what is driving price action. Anyways I flicked through my TradingView tabs to BTCUSD with EEM (Ishares EM ETF ticker) still on compare and spotted something which I feel isn't a mere coincidence.

Bitcoins price since the end of the 2015 bear market has shown a reasonably strong correlation with the health of emerging markets:



Of course, as is observable from the left of that chart the correlation didn't exist prior to 2015:



This shows that what I think I am observing now with regards to a potential correlation didn't exists prior to 2015.

Anyhow, I thought to myself that there may be a longer term trend correlation, but not a short term correlation. Because of that thought I was eager to see if certain swings in BTC's price have shown a strong correlation with certain swings in the EEM index and I found a few examples:

The February 6th crash and subsequent risk on rally showed a strong correlation which eventually broke into April:



The May/June sell off from 10k coincided with a harsh sell off in the EEM index:



The June/July bull trap rally showed a strong correlation which held all the way until the end of the hidden bull whale grind rally:



After this point EEM continued to capitulate whilst BTC played its boring game at 6k, it wasn't long though before Bitcoin played catch up:



Now looking at that chart it seems that in the last 7 months the concurrent correlation has broken down, but it seems like EEM is now leading BTC and that favorable conditions in Emerging Markets correlate with favorable conditions for Bitcoin.

What does this mean if this correlation is actually legitimate?

Well firstly it means that Bitcoin isn't an uncorrelated asset class anymore and that the uncorrelated narrative has been untrue since 2015. Bitcoin is a play on the health of Emerging Markets and by proxy China and whenever those markets get rekt the Bitcoin market also deteriorates.

Secondly it means that a macro thematic can be extremely useful in deciphering Bitcoin's price action going forward and seems like a must have for any trader looking maintain an holistic view of the Bitcoin market.

Thirdly it means that the strength of the Chinese economy (which buoys and leads EM) is very important, it also means that the strength of the US Dollar is important because a strong dollar is what causes EM problems.

On that last thought here is a chart of BTC vs DXY (Dollar Index) Inverted, its not as strong a correlation compared to EEM but there is something there:



Anyway, I know a lot of the pro Bitcoin crowd are fairly stubborn and dismissive of legacy people trying to frame macro analysis over Bitcoin and if you're one of those people feel free to toss this out or critique it below. But (at least to my eye) this macro theme looks legit so although I have already been using it for trading Fx pairs I may also use it now to analyze Bitcoin's price for future trading opportunities."

Tin Foil Hat - Customers are dumping tether for Bitcoin and withdrawing the Bitcoin. Bitfinex execs, to slow this bank run down and avoid prison for a few more months, are selling customers Bitcoins behind their back for tether to pump up the tether price and stop Bitfinex Bitcoin price from getting to high. This will work until they run out of coins which may not happen. In that case they would hope to spend years behind the scenes slowly replacing customer funds with profits and pretending like nothing ever happened until some regulator sues them.


 

Roach's "Hetero Nazi" Credit Score is hovering at -4000 for having not spoken to a fertile Aryan female in 7 years and for anally penetrating the Jewish retarded hermaphrodite Gembitz in a Bitcoin funded homeless shelter. Hitler would not be proud.

Yes there must be tons and tons of money ready and praying for sub 4k prices to accumulate more coins so it would take some serious next level FUD to take us below 3100 im guessing.

If we dont even make a meaningful push down to low 4ks then holy shit we might be starting raging bull market mode and the Baby Bull could be having early puberty from all the lovely steroids money printers keep injecting into it.

A little DMT laced Hopium thought for the day. What if JPM in hopes of making its stable coin the king of stable coins has set its bought and paid for regulators after Tether with plans to eventually declare Tether an illegal coin and subject any institution(exchange, bank, etc) who uses it to sanctions, confiscations, and prosecutions??? This would mean that tether holders would lose all hope of ever getting dollars for tethers even if they are backed by reserve dollars, and every bitcoiner and shitcoiner would trade tethers for Bitcoins and shitcoins as fast as possible pushing us to 100k by Christmas.    

Just a thought now back to regular scheduled state and msm sanctioned Fud and doom.  

JJG, good to see you back and not implicated in a local bitcoins sting. A lot of overreach by authorities lately. Infidels are fighting hard for their money printing masters.

To your question, no sir, not imho. I just expect it to give us a similar 2015 style correction with a new low over 3100, hopefully 4kish. I think we are in the fractal one of our esteemed WO TA experts Hairy has often posted but just with a distortion to the upside from moneyprinting headwinds.   See https://bitcointalk.org/index.php?topic=178336.msg50776067#msg50776067 for my full theory.

If we break 3100 then I guess I will have to start posting "Bear Market all is fucked" countdowns  

but till then.....

133 days into new BTCaby BTCull Market and all is well

also I forgot to post this week the 73 percent complete with halvening cycle milestone. The next 27 will fly by.

I find the timing suspicious. I wouldnt be surprised if TDAmeritrade influenced TPTB to go after Bitfinex to help free up some new customers for their big launch. Long term it will be great to get rid of Bitfinex, but short term, lets be real, this is gonna suck for price for the next few weeks or month.

Glad to see your pills are working and you're typing complete sentences today. You're welcome for the homeless shelter upgrades this month. It was the least we could do to help out some unfortunate retards.  

This is probably to fund the retainers for their legal team. Wish I was kidding.