Unable to break $500

[talks_cheep]

To no one's surprise the big dump by Craig Wright has been postponed. It will come soon but we may stay at current levels a bit longer.
Notice how there's an enormous pressure keeping it under $500? There is theoretical room to temporarily go up but there's a lot of pressure to keep it down. What do you guys think is going on here?

[n691309]

To no one's surprise the big dump by Craig Wright has been postponed. It will come soon but we may stay at current levels a bit longer.
Notice how there's an enormous pressure keeping it under $500? There is theoretical room to temporarily go up but there's a lot of pressure to keep it down. What do you guys think is going on here?

It was a big dump but recently today the bitcoin price is keeping increasing slighly, only today the price is +~$7 which is not bad after the long dump (few days). It's pretty hard to think now that bitcoin will break $500, but it has potential to reach that target in the upcoming weeks.

[abacus]

I think it will end just like the last Wright's extraordinary claim of the last December: a few hours of downward retracement.

Indeed, BTC is again over $450, just where it was when it started.
The road to 500 could be less difficult than we think.

[The Sceptical Chymist]

Is Satoshi supposed to dump his bitcoin or something?  I haven't heard but I haven't read every thread here either.

But the halving, the halving!!!

[n691309]

Is Satoshi supposed to dump his bitcoin or something?  I haven't heard but I haven't read every thread here either.

But the halving, the halving!!!

No, i don;t think he will dump his bitcoin, he has no reason to do this especially in this situation before the halving, but i have read that he will move his funds from the Satoshi wallet to prove that he is the real one.

[7788bitcoin]

With news about Craig, there is a pressure against upward price increase. If Craig is the real Satoshi, the tax office may go after him and he might have to move and sell some coins to pay the taxes... I heard he was also a user of Mt. Gox!

[pooya87]

i knew that Craig Wright's scandal would be used by one of you two as another FUD spreading technique. he has not proven he is satoshi yet, and he is just wasting time. moving funds doesn't take days to do, you go home to your secure wallet and send them. signing a message from bitcoin address doesn't take a long complicated method like the blog post, you open up a wallet and sign it like what litecoin dev did with no bs.

[Amph]

Is Satoshi supposed to dump his bitcoin or something?  I haven't heard but I haven't read every thread here either.

But the halving, the halving!!!

no it's a false rumor, because first, he is not satoshi, and second it would be stupid to dump now, when there was better chance to dump at 1200, aka the last ath

[Herbert2020]

Is Satoshi supposed to dump his bitcoin or something?  I haven't heard but I haven't read every thread here either.

But the halving, the halving!!!

you should read the topic body text instead of only the topic subject! there are a couple of things that i will try to summarize here for the lazies:
1) he is not satoshi until he signs a clear message with the current date and clears his identity.
2) he (who claims to be satoshi) said i am going to move some coins from early blocks. which is not a dump and it is not proof of his identity unless it is from genesis block.

[1Referee]

To no one's surprise the big dump by Craig Wright has been postponed. It will come soon but we may stay at current levels a bit longer.
Notice how there's an enormous pressure keeping it under $500? There is theoretical room to temporarily go up but there's a lot of pressure to keep it down. What do you guys think is going on here?

You must think further.... Whales like to make money and they will surely do so if the time is right. But at this point there is indeed a high pressure on the price caused by a group of whales that are not interested in seeing the price go up.

Reasons could be :

- Accumulation.
- Accumulation.
- Accumulation.
- Accumulation.
- Accumulation.

[mindrust]

That whole Craig Wright thing is a scam. He ain't satoshi, he is just a wannabe and now he is famous. He succeeded thanks to people.

As for the price... It will pass 500$ sooner or later. More like later i think.

[Kevin77]

That whole Craig Wright thing is a scam. He ain't satoshi, he is just a wannabe and now he is famous. He succeeded thanks to people.

As for the price... It will pass 500$ sooner or later. More like later i think.

He wouldn't have received so much fame, thanks to gullible people believing that Craig is indeed Satoshi.
Well, I am open-minded if it comes to that argument as long as there are valid points and proofs presented.
Price will definitely pass $500 but maybe in June or July. Not now. Not yet.

[Red-Apple]

there won't be a dump, because if he was satoshi and if he had access to the coins; then he would have sold at the top not at less than half price after a couple of years.
and the current pressure around $500 is only the whales accumulating for a second phase.

[jangloos]

Most difficult phase was to break the 440 $ .It is accumulation period so better avail this chance before the breakout of uptrend.We will see next stop at around 600 $ once this starts moving in couple of weeks.

[richardsNY]

Most difficult phase was to break the 440 $ .It is accumulation period so better avail this chance before the breakout of uptrend.We will see next stop at around 600 $ once this starts moving in couple of weeks.

A lot people use these prices to buy themselves a certain amount of coins each month. So yes, I also think people are in accumulation mode right now. There is no need to wait for the price to come down. Better buy while the price is still below $500.

[pitham1]

Is Satoshi supposed to dump his bitcoin or something?  I haven't heard but I haven't read every thread here either.

But the halving, the halving!!!

no it's a false rumor, because first, he is not satoshi, and second it would be stupid to dump now, when there was better chance to dump at 1200, aka the last ath

The second reason is no reason at all. There are a lot of people who didn't dump at 1200, the ATH, because they expected bitcoin to rise further.

[airezx20]

Most difficult phase was to break the 440 $ .It is accumulation period so better avail this chance before the breakout of uptrend.We will see next stop at around 600 $ once this starts moving in couple of weeks.

A lot people use these prices to buy themselves a certain amount of coins each month. So yes, I also think people are in accumulation mode right now. There is no need to wait for the price to come down. Better buy while the price is still below $500.

As my speculation we will see the $500 break i think end of june.. more people will come to buy more bitcoin.. and i think it will increase more..
for now we cant see that the price will break $500.. because block halving is too far.. so people or traders are thiking that they are waiting for dump price of bitcoin before they start buy bitcoin..

[mobnepal]

To no one's surprise the big dump by Craig Wright has been postponed. It will come soon but we may stay at current levels a bit longer.
Notice how there's an enormous pressure keeping it under $500? There is theoretical room to temporarily go up but there's a lot of pressure to keep it down. What do you guys think is going on here?

No craig don't have that much btc to make big dump, he is just showing some stunt to desperately make bitcoin price down before halving so that he can accumulate like many whales are doing right now. I don't believe he is real satoshi and hold all those 1 million coin with him.

[romero121]

It might be due to the accumulation that happened due to the expectation on halving. Not because of the Craig or some people's accumulation of huge volume. When you consider the entire user community, everyone were holding for a rise which reduces the circulation. This seems to be the reason for delay to touch $500.

[Amph]

Is Satoshi supposed to dump his bitcoin or something?  I haven't heard but I haven't read every thread here either.

But the halving, the halving!!!

no it's a false rumor, because first, he is not satoshi, and second it would be stupid to dump now, when there was better chance to dump at 1200, aka the last ath

The second reason is no reason at all. There are a lot of people who didn't dump at 1200, the ATH, because they expected bitcoin to rise further.

you misunderstood, it would be stupid to dump now when he didn't dump at 1200, so if your logic is true, then he should wait for a better price like he waited when we were at 1200, more now than before, since we are only at 4xx