ivomm
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Activity: 1888
Merit: 3081
All good things to those who wait
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June 21, 2021, 11:13:52 AM Merited by JayJuanGee (1) |
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I think China's FUD lost its effect on the price in 2017. I am not convinced that the last month dumps are in any way related to China. Miners have a choice to move in another country or to sell their equipment, not their bitcoins. And the banks can't stop the chinese from using a bank abroad. They can't stop bank transfers. The real war is on the derivate exchanges. Another half a billion $ mostly high leverage longs have been liquidated in the last 24 hours. The remaining longs are in agony trying to avoid the liquidation by selling their bitcoins and funding their long positions. By rough estimates more than 20 bil $ longs have been liquidated on all derivate exchanges, since the first crash around 21 May. Clearly the n00bs were thinking "The price is too high to buy on spot exchanges and hodl. Let's then play 100x leverage long." This insanity can't last forever. Either the leverage longsters will empty their fiat reserve, or the leverage shorters will empty their bitcoin reserve. Then the dump will stop and no more FUD can influence the market. It is irrelevant if 30K will hold or not. But for now I find it quite optimistic that the bears didn't break it even once. How many times 10K broke and despite it all, that resistance finally was left behind forever. It is like 2017 was the year 10K was conquered and the next 3 years defended from the cancer called futures and derivates, and moving on. The same will happen with 100K, but may be with a different pattern. I don't believe 100% in Plan B predictions for this year, but to some extent it will fulfill in the next years. Below or above the lines for some time, it doesn't matter. Hopefully, we are all going to witness 100K soon, and not after 2-3 years, when the 2x yearly increase line will reach it.
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Paashaas
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Activity: 3560
Merit: 4689
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June 21, 2021, 11:23:11 AM |
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Prepair for total doom. One major sell-off shaking out the weakest hands on Earth.
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modrobert
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Activity: 386
Merit: 334
-"When the going gets weird, the weird turn pro."
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June 21, 2021, 11:27:46 AM |
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Prepair for total doom. One major sell-off shaking out the weakest hands on Earth. I'm watching, and sure, current rate sucks, but look at the resistance around 30k, that's bullish to me.
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somac.
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Activity: 2106
Merit: 1238
Never selling
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June 21, 2021, 11:29:36 AM |
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Prepair for total doom. One major sell-off shaking out the weakest hands on Earth. I'm watching, and sure, current rate sucks, but look at the resistance around 30k, that's bullish to me. That's the thing, the lower it goes the more BTC you get for your money.
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greensheep
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Activity: 278
Merit: 44
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June 21, 2021, 11:32:12 AM Merited by JayJuanGee (1) |
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The ccp in general is fucking things up. https://www.bbc.com/news/business-57549542 This is a big storm, effectively stops any Chinese citizen from having anything to do with BTC at all. So having said that, if the drop we just saw is all they can muster from such a big ban the Chinese FUD is almost finished.
Either the market is becoming desensitized or there are very few remaining Chinese who will sell their coins. From this point on all Chinese BTC activity now goes underground or ceases to exsist. The CCP are really fucking themselves over with this one.
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somac.
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Activity: 2106
Merit: 1238
Never selling
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June 21, 2021, 11:34:40 AM |
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The ccp in general is fucking things up. https://www.bbc.com/news/business-57549542 This is a big storm, effectively stops any Chinese citizen from having anything to do with BTC at all. So having said that, if the drop we just saw is all they can muster from such a big ban the Chinese FUD is almost finished.
Either the market is becoming desensitized or there are very few remaining Chinese who will sell their coins. From this point on all Chinese BTC activity now goes underground or ceases to exsist. The CCP are really fucking themselves over with this one.
China about to go full North Korea?
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serveria.com
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Activity: 2394
Merit: 1191
Privacy Servers. Since 2009.
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June 21, 2021, 11:36:29 AM |
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Prepair for total doom. One major sell-off shaking out the weakest hands on Earth. Source? SOMA I suppose?
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Paashaas
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Activity: 3560
Merit: 4689
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June 21, 2021, 11:39:40 AM |
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Prepair for total doom. One major sell-off shaking out the weakest hands on Earth. I'm watching, and sure, current rate sucks, but look at the resistance around 30k, that's bullish to me. Hope i'm wrong. Potential bottom touched serval times now but if it beaks... Diamond Hands will prevail.
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greensheep
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Activity: 278
Merit: 44
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North Korea is a CCP's vassal state, but it's doing bad economically compared with China. But to me they are both sick in the same bed --> authoritarian regimes The CCP doesn't give shit about human rights, nor international law, free speech etc and are becoming more and more assertive. They just want to be in control of everything, hence BTC can't be controlled, so just ban it. Democratic newspaper with free speech in Hong Kong could endanger their power and bring out the truth, just ban it. The silence of the west is demonstrating the shift in power and it's worrisome. The ccp in general is fucking things up. https://www.bbc.com/news/business-57549542 This is a big storm, effectively stops any Chinese citizen from having anything to do with BTC at all. So having said that, if the drop we just saw is all they can muster from such a big ban the Chinese FUD is almost finished.
Either the market is becoming desensitized or there are very few remaining Chinese who will sell their coins. From this point on all Chinese BTC activity now goes underground or ceases to exsist. The CCP are really fucking themselves over with this one.
China about to go full North Korea?
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modrobert
Sr. Member
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Activity: 386
Merit: 334
-"When the going gets weird, the weird turn pro."
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At Binance, 15min view, within 6 hours there have been 4 volume dips with over 4k BTC (2 of them over 6k BTC), and Bitcoin refuses to sink. I'm not an experienced trader, but looks like serious resistance a bit over USDT 30k.
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somac.
Legendary
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Activity: 2106
Merit: 1238
Never selling
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Prepair for total doom. One major sell-off shaking out the weakest hands on Earth. I'm watching, and sure, current rate sucks, but look at the resistance around 30k, that's bullish to me. Hope i'm wrong. Potential bottom touched serval times now but if it beaks... Diamond Hands will prevail. I could be wrong, and it seems I am 80% of the time. But I believe that as the US wakes up they are going to buy this dip. They'll see the news for what is, fantastic news! Think about it, not only are we getting far less Chinese miners, we are also getting far less Chinese investors, this means CCP manipulation will have little to no effect in the future. Bitcoin without China means a decrease in volatility, couple this with scarce supply and we are going to see far fewer corrections. Of course we'll have slower rises, but that is not a problem. Also a majority of those levarged traders are my guess Chinese, so I expect to see far less leverage from here on. For anyone watching markets that the Chinese invest gamble in, you'll see massive booms followed by massives busts and then social issues following. When it comes to investing money, Chinese are the biggest dumbshits or all. At least historically they have been good savers but the new generation is shit at that now too. Edit: should also add this does not bode well for shitcoins.
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somac.
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Activity: 2106
Merit: 1238
Never selling
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June 21, 2021, 11:59:09 AM |
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The silence of the west is demonstrating the shift in power and it's worrisome.
That silence is starting to change. Look at Australia, they couldn't suck enough CCP cock a few years ago and now they are doing a lot to piss the CCP off.
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 21, 2021, 12:01:35 PM |
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fillippone
Legendary
Online
Activity: 2324
Merit: 16580
Fully fledged Merit Cycler - Golden Feather 22-23
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hv_
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Activity: 2534
Merit: 1055
Clean Code and Scale
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June 21, 2021, 12:12:11 PM |
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Phil_S
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Activity: 2110
Merit: 1537
We choose to go to the moon
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June 21, 2021, 12:19:18 PM |
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The CCP doesn't give shit about human rights, nor international law, free speech etc and are becoming more and more assertive.
Many countries fit this description. Including western 'democracies', Russia etc... Nobody gives a shit. International tensions are so high, no one can afford to be 'nice' if they feel their basic survival is at stake. Politicians all over the planet are overreacting and freaking out about everything.
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somac.
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Activity: 2106
Merit: 1238
Never selling
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June 21, 2021, 12:19:22 PM |
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mempool still filling
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UnDerDoG81
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Activity: 2179
Merit: 1201
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June 21, 2021, 12:23:13 PM |
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I dont think 30k will hold. We need one more deep shake out. We were here before and the interest was not much. We need a price to convince the people with money to get in. I hope so much that I am wrong. But gut and experience wise I think 23-24k is a painful level where the market could turn. I dont think we see sub 20k ever again.
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lightfoot
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Activity: 3164
Merit: 2258
I fix broken miners. And make holes in teeth :-)
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June 21, 2021, 12:23:18 PM |
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Isn't this actually great news? No more cheap coal-based mining in china means no flooding the market with their cheap BTC.
And now that bitcoin is suddenly "better for the environment" we can expect the usual notice from Musk saying Teslas for BTC.
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