Bitcoin uptrend stop after Barry Silbert tweet that they are buying Bitcoin

[AbuBhakar]

Barry Silbert is the owner of many crypto company such as grayscale, coindesk and other crypto tech company. He announced on his tweet that they are buying Bitcoin during the uptrend movement after Russian reportedly buying Bitcoin using Ruble. The timing of Barry tweet is same when the uptrend stop and drop in a significant percentage. Many speculation that they indeed sold some of there Bitcoin in contrary to his statement that result to this meme in social media. This meme made me laugh so I decided to share here and know your thoughts about this speculation.


Source: https://twitter.com/Tree_of_Alpha/status/1499135591149146113

[franky1]

no one smart ever announces a buy on twitter before buying. as they know the reaction then becomes competition
what you find is that they buy first, then announce it.

EG elon bought in december 2020 and announced in like february2021

though i have many reservations about BS, i can atleast put that aside and understand the logic/common sense.

the way i see it.
BS bought first, then announced when the deals were done.
but in comparison to how much he bought, (and of course his best friends privy to his info pre tweet).. the social drama of his tweet announcing did not compare to his buy, thus it didnt cause an additional pump after his buy
thus the market just corrected to normal as if nothing happened

in short, if he was hoping for a pump and dump post-tweet. it didnt happen.

that being said. from what i can see on twitter in the last few days the announcement i read was that greyscale was buying back SHARES of its own company due to the SHARES market being saturated, where most of the SHARES are of his litecoin based trust

[mk4]

Obviously Barry Silbert isn't your typical sort of "influencer"(he's obviously not the type that creates shill videos on YouTube), but this is one of the reasons why you shouldn't follow these "influencers". They're shilling for their own good, not necessarily yours.

[franky1]

OR most people read his tweet as being related to his company shares, not actual bitcoin so no one FOMO'd on bitcoin after the announcement, though some might have took an opportunity to buy in early before an announcement thinking there would be a subsequent pump post announcement

they way i see it any social media announcement from anyone is never a cause for any sustainable rise in price. and is always a short event/drama of speculation that corrects.

so always take these pieces of advice
1. ensure what is being said actually relates to the market speculated
2. understand those that are sending the message already acted on it, so the reader is second/last to know
3. expect corrections after the drama. or expect it to not even manage to cause a pump.
4. buy the dips not the hype

whenever you hear people in panic due to selling.. think 'discount' not 'disaster'
whenever you hear people in FOMO due to buying.. think 'premium' not 'potential'

im guessing the OP read an announcement bought some coin hoping for a pump, it never happened.. and is now upset that he didnt predict events well. even when the announcement that triggered him wasnt actually related to bitcoin, and obviously he was to late to the party that pre-pumped before the announcement

[jossiel]

No one really knows if they have sold or not. The market just reacts to the demand of it and if there are folks, the bigger ones that have sold then it really would cause a plummet.

But as speculations, whether they have sold, bought or not. Nobody knows unless they have announced it to the public that they really did. Just like Elon, they can troll the community but there is one guy whenever he said that they bought, they really do and that's Michael Saylor and co.

[serjent05]

Is it possible that Barry Silbert is getting ready to sell on his tweet?  But sadly no one buys the tweet that resulted in the Bitcoin price dump?  All I can see here is that he is trying to make a somehow a FOMO scenario but has gotten the opposite instead.

[dimonstration]

Is it possible that Barry Silbert is getting ready to sell on his tweet?  But sadly no one buys the tweet that resulted in the Bitcoin price dump?  All I can see here is that he is trying to make a somehow a FOMO scenario but has gotten the opposite instead.

There's already a strong bullish movement by the time he made the tweets and suddenly stops after a strong selling pressure as we can see on the chart that a series of big red candle on the bulls that pumping on it. There's a high chance that Barry perse dump on traders that start the uptrend movement because his timing is so accurate on the reversal of the trend.

But of course no one can prove except Barry alone, there's a chance too that a group of whales just launch coordinate pump and dump scheme to let fomo investors ride and leave at the peak.

[evilgreed]

               Look man, the guy is just using anything he can at his disposal. Can't blame the guy for taking advantage of what cards he can use to gain profits. It is smart just like how Elon used his cards to his advantage. Leaves a bad taste in the mouth but what can we do? Lol. One thing I can say though is that if we were in their shoes, we won't even be able to assure whether or not we would be doing the same things they did that the majority hates or sees as an unfair course of action.

[Mpamaegbu]

no one smart ever announces a buy on twitter before buying. as they know the reaction then becomes competition
what you find is that they buy first, then announce it.

This an insight that many investors overlook and think erroneously that the purchase happens after the announcement. Like Warren Buffet advised, and I rephrase – buy on the rumour of the news and not the actual news. Silbert coming open with his purchase in this sense, is the actual news.  Thank you for sharing that thought to refreshen our minds.

Is it possible that Barry Silbert is getting ready to sell on his tweet?  But sadly no one buys the tweet that resulted in the Bitcoin price dump?  All I can see here is that he is trying to make a somehow a FOMO scenario but has gotten the opposite instead.

That would really be hard on his investment for the opposite reaction. Perhaps his intention was to get the word out and cause a rush in the market and then easily he cashes out. I guess it backfired on him.

[Exio.tech]

agree on this, it's unbelievable how a personal opinion can affect the fluctuation of the crypto

OR most people read his tweet as being related to his company shares, not actual bitcoin so no one FOMO'd on bitcoin after the announcement, though some might have took an opportunity to buy in early before an announcement thinking there would be a subsequent pump post announcement

they way i see it any social media announcement from anyone is never a cause for any sustainable rise in price. and is always a short event/drama of speculation that corrects.

so always take these pieces of advice
1. ensure what is being said actually relates to the market speculated
2. understand those that are sending the message already acted on it, so the reader is second/last to know
3. expect corrections after the drama. or expect it to not even manage to cause a pump.
4. buy the dips not the hype

whenever you hear people in panic due to selling.. think 'discount' not 'disaster'
whenever you hear people in FOMO due to buying.. think 'premium' not 'potential'

im guessing the OP read an announcement bought some coin hoping for a pump, it never happened.. and is now upset that he didnt predict events well. even when the announcement that triggered him wasnt actually related to bitcoin, and obviously he was to late to the party that pre-pumped before the announcement

[Poker Player]

It wasn't Barry Silbert. I farted just at the top. So it's me who's responsible for the downturn.

[kryptqnick]

I think that Bitcoin is doing well not only due to what's going on in Russia, but also due to lots of crypto donations flowing to Ukraine. In any case, Bitcoin is not doing badly under the current war because it's beneficial for both sides. There are some ups and downs, and undoubtedly the growth of usage in Ukraine and Russia is compensated by the Western panic regarding the war and its potential spread. So if Western people start buying as well, it can break the balance and start a bullish trend, even. But I don't think that Barry Silbert's tweet is the reason behind the latest price decline.

[FlightyPouch]

               Look man, the guy is just using anything he can at his disposal. Can't blame the guy for taking advantage of what cards he can use to gain profits. It is smart just like how Elon used his cards to his advantage. Leaves a bad taste in the mouth but what can we do? Lol. One thing I can say though is that if we were in their shoes, we won't even be able to assure whether or not we would be doing the same things they did that the majority hates or sees as an unfair course of action.

Exactly, if you have the necessary amount of influence to be able to move a market and sway the opinions of masses then you're going to use it too right so I can agree that we should let this one slide because what can we do about it? Besides, isn't there a possibility that we can use him as an indicator of how the prices are going to move so we can act accordingly?

And that is what they are trying to do. Making people aware of their "decisions" and as someone that, you know, hold some strings to make slight changes, people will really act accordingly.

And usually, "acting accordingly" based on the statements or posts by these people will be their gain moving forward. I was educated that following these people could be useful sometimes but most of the time, they could post something like that and that will distract us from focussing on what should we be doing with our investments.

[DaveF]

BTC still has a $700+ billion dollar market cap.
Thinking one person saying anything about it can make that much of a difference is silly. Sorry, but it is. There are dozens perhaps 100s of factors that move markets this large.
People who were speculating that now want something stable due to everything else going on in the world probably moved the price more then anything else at the moment.

-Dave

[Darker45]

LOL! It's as if the whole Bitcoin market revolves around a single man. People, this is not Doge and Barry Silbert is not Elon Musk.

I'm not being too serious here. I know that this is nothing but a meme-material coincidence, but for the sake of those gullible ones who may think that the Bitcoin market is this easy to get influenced, Barry Silbert's words did not move the price.

[amishmanish]

So imagine that it was true what crypto twitter is accusing. It implies that Barry Silbert supposedly used his followers as exit liquidity for a bunch of BTC and liquidated it on exchanges. Is that something that can actually happen? It is indeed plausible.

Who can say for sure that how much did anybody sell on that particular day. Then again, if this was an SEC governed market, would someone be allowed to make such comments about commodities that they have so much stake in?

Those are the questions that need to be asked rather than wondering whether the tweet set-off the selling or not.

[hugeblack]

I don't know, but the timing of the tweet is on 2/3/2022 and today Bitcoin is at $39,000, which is a change of $6,000.
It is a natural change within several days, not one day, and therefore we cannot consider that that tweet made a change in the market.
If grayscale does sell, it will appear in their data chart, and I don't think they sell at 60k and therefore won't sell at 39k.

Generally, the effect of these people is the amount of coins they buy against the total supplly in addition to FUD & FOMO effect, which does not exceed 5% to 10%.

[adzino]

They probably bought it before even tweeting that they will buy it. I mean, the price is low, they bought it, and then told others before selling it, expecting the price to go up more, but the exact opposite has happened. Anyway, these are all just coincidence. I doubt the price crashed after he told that he bought bitcoin. One single person cannot control the bitcoin market. Most of the people I bet don't even know who he is. And the price didn't even crash. A small downtrend which was expected after a sudden quick uptrend.

[dothebeats]

They already bought right even before the announcement. They certainly wouldn't be announcing that they are just buying when there is a high chance that people will dump on them. They are just trying to influence other people's decision and hope that they convert the tweet to a profit. Sadly for them, people dumped and collected profits right after Barry tweeted it. It may not have been a direct result of the tweet, but they certainly didn't lose any money because of the dip.