Is everyone waiting on the fairy God whales today?

[pungopete468]

I'm tired of losing money investing in what I think to be a logical market. The reality is it wouldn't take more than 1 Ukrainean investor shifting a moderate piece of wealth to cause what we saw yesterday.

I think it's likely that at least a few wealthy people will buy Bitcoin the closer we get to a war or major occupation.

I withdrew BTC from the market and I'm just HODLING now.

[1714996535]

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[1714996535]

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[Elwar]

I see more and more articles where some rich guy says "I bought a lot of bitcoins a few months ago". I always think...when was that? What did it do to the price? Were they part of one of the uptrends?

There are a lot of rich people out there. The more that are exposed to Bitcoin, the more of these guys will jump in and buy a bunch.

News articles about how the Bitcoin price is dropping is like chumming the waters for rich investors.

Even a guy at work who knows about Bitcoin but was never interested in buying said he wanted to buy some after hearing that the price was lower because an exchange went down.

[Alonzo Ewing]

So you're saying we'll either go up or go down?

No.

I was saying we will definitely go down, unless some X-Factor force comes to the market which cannot be predicted or accounted for...such as the 3K BTC buy-in bomb dropping motherfucker that was buying like crazy yesterday with no regard for getting a good price.

Seems the fairy god whale never showed up.

Ah okay, I misunderstood. Now I see. You're saying the market will definitely go down unless for one reason or another, it goes up.

[MatTheCat]

Ah okay, I misunderstood. Now I see. You're saying the market will definitely go down unless for one reason or another, it goes up.

Either some serious big spenders come to market who don't give two craps about getting a good price for their 10K+ bitcoins (such as seen yesterday), or we are going down to test lower limits of trendline at around $590 -$610.

If some mad bastard with 20 million USD comes to market, then obviously all that is blown out the water and this is something that cant be legislated for.

[TERA]

[njcarlos]

I see more and more articles where some rich guy says "I bought a lot of bitcoins a few months ago". I always think...when was that? What did it do to the price? Were they part of one of the uptrends?

Anyone worth their salt doesn't buy on a major exchange. They buy OTC, in bulk, at below market rates. You won't see what the big boys are doing that easily.

[MatTheCat]

Seems like he never came back......

......except perhaps to try and cash out some of his rather over hastily bought 20K BTC or whatever.

[oda.krell]

I refuse to get nervous until ~590. Then, however, I will panic like a sheep on the way to the slaughterhouse :D

[MatTheCat]

I refuse to get nervous until ~590. Then, however, I will panic like a sheep on the way to the slaughterhouse

I wouldn't do that, I would start buying around there.

[oda.krell]

I refuse to get nervous until ~590. Then, however, I will panic like a sheep on the way to the slaughterhouse

I wouldn't do that, I would start buying around there.

Wasn't entirely serious. I'm sitting on my hands right now anyway until I get a clearer picture of what is going on.

I do think of up to around590 as a reasonable retracement on the gains we made since Feb 25, but going lower than that will make me doubt the (mid term) reversal, that I saw as the most likely scenario so far.