60K again! The poll is officially over! The majority won!
For those about to rock, we salute you!

Aaand another round of liquidated shorts  These morons never learn not to tease the bull.

I don't know... Stimmys arriving minutes ago and hoping that the price should be already 100K? Hmmm, what's wrong?!? May be because 100 mil people are not standing in front of the computers to send the money to exchanges, and the speed of transfers is less than the speed of light. Btw this gif is way more appropriate for shitcoin bagholders, not Bitcoin hodlers. I can't imagine a poor Bitcoin holder at 54K. It is either a lack of patience, or something far worse (like a lack of understanding of Bitcoin or the usual proudcunt shorter FUD - each time the price pumps that troll comes here with shitty posts angry at the world for losing another (may be 1000th or more) short position).  



P.S. After I posted this I saw JJG's post with a way shorter response than mine (!!!) and with a similar pic. Geez, what a coinkidinki!

It depends. If the week turns green, we can expect an even stronger spike than usual. That could lead into 85K+ area. If the week remains red, then some may prefer to wait to time the bottom. In that case there will be no fireworks, but a bigger crash would be avoided also. So it is a win-win situation for the bulls. Moreover, the americans are used to invest at least 10% of any saved fiat into Bitcoin and stocks. The surveys show that 5-10% of the 400 bil checks will be invested in Bitcoin. Which means 350-700K bitcoins bought on Coinbase. The total reserve (hot and cold wallet) ot that exchange is 690K bitcoins. So anyone (except the moron proudcunt) can do the math. The liquidity crisis may not be visible on the charts of CQ and Glassnode, since most of the bought bitcoins will remain on the exchange. But this will lead to a violent bull run sooner or later. I agree though that retail buyers will seek fast profit, so perhaps they will cash out around 110-120K, where we can go pretty fast, but not unexpected at least for me.

Not only that, but CQ did this at least twice - now and before the previous dump. May be this is the new FUDster trying to manipulate the market with his charts and tweets? Or advertising his website? Let's hope the 3rd time nobody will fall for such FUD. I wouldn't pay for such BS and don't trust both CQ and Glassnode. Anyway, only weak hands can dump because of such FUD, which is good. In a bull market 20-30% corrections are recovered in 1-2 weeks, 10% in several days. The window of cheap coins below 60K is going to close anytime soon. Let's see now how the stimulus checks will impact the market. It is funny that my wild guess of 10% going to buy bitcoins is confirmed by a survey claiming that 10% will go mostly to Bitcoin and less to stocks:

In case you have wondered what a weak-hand's face looks like, while seeing a 5% dip:



It requires the highest level stupidity to make a loss on the eve of one of the most memorable bull runs in Bitcoin history. HFSP

As in most cases, this "dump" is not related to any news. The media always "finds" the reason, because they have to fill the  pages with something. IMO this is the usual



used by the bulls to clean the path for the next massive bull run. Now it can go even higher because of the weak hand cleansing. Let's not forget that 10% from the stimulus checks is equal to the whole Coinbase reserve, where the buying will occur. I expect crazy weeks ahead with a break to 120K in a month. And that won't be the end of this bull cycle, just a small stop on the way to 200K-400K this year.

Considering that CB reserve currently is BTC700K



and that almost all BTC's will be purchased on that exchange with the stimulus checks, your comment "Plot twist: Bitcoin liquidity is going to zero" is a real possibility. As I noted in my previous post, if 10%, i.e. $40bil  makes its way into Bitcoin, that would mean 701K bitcoins at the current price.  I can say also that very rarely until now we could have predicted with a near 100% certainty that a bull run in coming in the next days and weeks. The funny thing is that even now the traders continue with their catching-the-knife play of shorts/longs and waiting for a dip strategy. Nobody can pour a brain in heads like these. I can only reccomend them to buy this shirt:


https://zpostore.com/what-ive-learned-so-far?fbclid=IwAR0fXOyR2H4ZotCnO4Oi34zmC_iPGRLvJcsiSRvHXoE519nlg-uzv7rwzgo&s=hanes-5250&c=White&p=FRONT

I see some twitter reports that the $1400 stimulus checks deposits will be cleared on 17th March.



$400bil will be sent to the Americans from the total $1.9tril stimulus to the economy. If 10%, i.e. $40bil  makes its way into bitcoins, that would mean 701K bitcoins at the current price. For reference, the total amount on all exchanges including derivate is BTC2.35mil. So the fun will start from the 17th. Especially for the shorters!  

That should be the voices of the shorters, mocked by the pseudo shorter proudhoney. Obviously they do math(s) and science with that part of their head which is missing.

Big picture people, big picture!

MicroStrategy has purchased an additional ~262 bitcoins for ~$15.0 million in cash at an average price of ~$57,146 per #bitcoin
As of 3/12/2021, we #hodl ~91,326 bitcoins acquired for ~$2.211 billion at an average price of ~$24,214 per bitcoin. $MSTR
https://twitter.com/michael_saylor/status/1370360546986430467


Bloomberg Markets @markets

Grayscale Investments, the firm behind the biggest Bitcoin trust, has posted at least nine ETF-related positions to LinkedIn, a signal that it's betting on U.S. approval for crypto ETFs
Firm Behind Biggest Bitcoin Trust Is Hiring Entire ETF Team
Grayscale Investments is making a bet that the approval of a U.S. cryptocurrency ETF is not too far off in the future.

https://twitter.com/markets/status/1370104726877003778

I totally agree! I had written a ton of posts arguing with mindrust with the only goal to help him avoid this terrible mistake. He didn't want to sacrifice 10% of his stash to rebuy it back, and now he regrets missing a 15x profit, which will soon be 30x, etc. This is not a joke, this is serious - like the death of a close friend, knowing that one of WO's legends chose the life of misery and slavery to the fiat system, instead of the full freedom that Bitcoin could have given him in just 12 months after that horrible day. Now, this day will be remembered as Mindurst Day and will remind everyone to be even stronger in bad days, as AlcoHoDL noted!

Today is the mindrust day. One year ago, on that evil day, mindrust panic sold all his 10BTC stash for $4000 - the average price he has bought his stash. He had twice that sum in fiat, but instead of buying at these incredibly cheap prices, he decided to buy USD, monero and other shitcoins. His ghost is reportedly still appearing from time to timel on bitcointalk topics, arguing that his decision was right. To him and others fallen comrades by the poison of Peter Schiff's kinda FUD, a minute of silence.

Verified by math(s) and science!

In Bitcoin We Trust?

....

All of which points to inflation not far down the road. Traditionally, this is a prospect that would have triggered an increase in demand for store-of-value commodities such as precious metals. However, technology has come to the rescue with an increasingly compelling commodity called bitcoin, a cryptocurrency based on a fundamental principle: its supply is finite and it has already been issued at a very high rate. That gives it a fundamental advantage in terms of trust over either tradicional currencies or stablecoins based on baskets of coins or assets which, as we have already seen, are very unstable.

There are more and more important players in the economy, from companies like Tesla, Square, China’s Meitu and many others; banks like Citi, Goldman Sachs, JPMorgan; investors like Guggenheim or Paul Tudor Jones; or insurers like MassMutual, which have decided to take positions in bitcoins or offer them to their clients as a critical hedge against the possible devaluation of the dollar. This has encouraged a large number of companies to buy bitcoins, which in turn has sent the value of the cryptocurrency soaring. Let’s see what happens if a country decides to buy bitcoin en masse.

It’s very hard to predict where the post-pandemic economy is going, but there seems to be a growing consensus that bitcoin will play a big role in establishing its direction of travel. The reality is that there are no more truths or lies about economics anymore. To all intents and purposes, and particularly in the post-pandemic context, the bitcoin is a far more valuable asset to gold, silver, the dollar or the euro. A fact that many people, regrettably, have yet to understand.

https://www.forbes.com/sites/enriquedans/2021/03/11/in-bitcoin-wetrust/?sh=7d4ee25d2a07