Bitcoins - about to hit $5,000 per coin today!

[Bindare_Dundat]

Anyone wanna comment on the news that it was an F2 mining pool that dumped a ton of coins and shorted that caused the massive downward pressure a few days ago  effecting the price. Does that make sense?

[gib]

Could be. Miners only have a small amount (and shrinking) of total supply. So even a "dump" from a miner should have any long term impact. Many miners sell on a regular basis. A few accumulate and then sell in larger volume.

[Mayday]

Anyone wanna comment on the news that it was an F2 mining pool that dumped a ton of coins and shorted that caused the massive downward pressure a few days ago  effecting the price. Does that make sense?

The Elon effect took place in under 1hr before it started getting belted.

Out of all the people with vested interests in BTC, would you believe it was miners who were in guard duty watching like a hawk and immediately crushed the price?

Miners who don’t hold short positions.

Miners who hold coins and want the value to go up.

Miners who saw Elon’s impact and thought ‘fuck me I better stop this price from flying up’.......

Ummm definitely not miners. They can’t whack sell orders so hard it wipes 2% off the price and consumes the order book.

[Mayday]

That's HUGE!

"1"

Elon Musk adds #bitcoin to his profile and causes a 20% price run in under 1hr.

Media announces India is looking to ban crypto and the price doesn’t budge.

#perspective

[gib]

Elon Musk adds #bitcoin to his profile and causes a 20% price run in under 1hr.

Media announces India is looking to ban crypto and the price doesn’t budge.

#perspective

I think most people get it that you cannot "ban" an algorithm combined with a person's free thought. What you can try to do is ban it as an official currency. But even then, it becomes traded as a commodity. Further, India knows it is essential for it to embrace BTC if it wishes to continue its rise as a tech leader. Indian's have a strong cultural affinity with gold. For the new generation, they will gravitate to Bitcoin, especially when the see exampled of gold being stolen or confiscated or not able to take from India to overseas.

[Bindare_Dundat]

The Elon effect took place in under 1hr before it started getting belted.

Out of all the people with vested interests in BTC, would you believe it was miners who were in guard duty watching like a hawk and immediately crushed the price?

Miners who don’t hold short positions.

Miners who hold coins and want the value to go up.

Miners who saw Elon’s impact and thought ‘fuck me I better stop this price from flying up’.......

Ummm definitely not miners. They can’t whack sell orders so hard it wipes 2% off the price and consumes the order book.

Here's a story title from Jan 11, 2021. Is the firm who made this suggestion wrong?

Bitcoin Plummets as Miners Sell Inventory, Spot Markets Panic

Data provided by South Korea-based analytics firm CryptoQuant suggests miner selling did contribute to the price drop.

Approx 40,000 btc was sold buy this particular F2 mining group.over the few days around Musk rally post.


BTC starting to shoot back up as of this post.

[gib]

1.2 Trillion dollars? That would be a massive sale.

Any link to this story?

[Bindare_Dundat]

1.2 Trillion dollars? That would be a massive sale.

Any link to this story?

1.2,-1.5 billion.

https://www.google.com/amp/s/cointelegraph.com/news/bitcoin-s-biggest-mining-pool-may-be-behind-the-btc-price-drop-but-buyers-stepped-in/amp

[gib]

I wonder if Mr A is having multiple orgasm around the prospect of a silver short squeeze. It might seriously be the first time he was right about something investment and finance related.

[Army of One]

That's HUGE!

"1"

lol.Anyone who has followed crypto for 4 years or more has seen this play out many times before, and it is always fruitless.China tried countless times in 2017, until they realised it was a waste of time and if they didnt adapt to it then other countries would jump ahead of them with innovation.India tried before in 2018 but again it fizzled out.Any country that doesnt adopt and adapt will more than likely be left in the dust.You need to experience 1 full crypto market cycle before any of this starts to makes sense to you.The market is all based on emotion.

[gib]

https://www.google.com/amp/s/cointelegraph.com/news/bitcoin-s-biggest-mining-pool-may-be-behind-the-btc-price-drop-but-buyers-stepped-in/amp

Ah 1.2 Trillion over 4 days or so. Still very big selloff. Amazing how this was absorbed by the market so well. Has to be positive that such a massive whale has now unloaded and market ownership is broadened. Thanks for posting.

[Bindare_Dundat]

Ah 1.2 Trillion over 4 days or so. Still very big selloff. Amazing how this was absorbed by the market so well. Has to be positive that such a massive whale has now unloaded and market ownership is broadened. Thanks for posting.

Billion.

[gib]

lol.Anyone who has followed crypto for 4 years or more has seen this play out many times before, and it is always fruitless.China tried countless times in 2017, until they realised it was a waste of time and if they didnt adapt to it then other countries would jump ahead of them with innovation.India tried before in 2018 but again it fizzled out.Any country that doesnt adopt and adapt will more than likely be left in the dust.You need to experience 1 full crypto market cycle before any of this starts to makes sense to you.The market is all based on emotion.

If you look at the cycle from the top starting with complacency etc, this is ESCATLY what Mr Anabolic went through on his journey. His "anger" phase lasted quite some time, but even that he got over. eventually.

[gib]

Billion.

Apologies - I stand corrected.

Yes 1.2 Billion. That is easily absorbed. Daily volume is usually over 100 B.

[Bindare_Dundat]

Apologies - I stand corrected.

Yes 1.2 Billion. That is easily absorbed. Daily volume is usually over 100 B.

But the sale and shorting, as well as retail selling could have contributed to the rally losing steam could it not?

Just want to verify if thats a possibility or not, or if it the price drop after the rally was something more."nefarious"

[Army of One]

But the sale and shorting, as well as retail selling could have contributed to the rally losing steam could it not?

Just want to verify if thats a possibility or not, or if it the price drop after the rally was something more."nefarious"

Unless you are a trader, and I dont think you are, then this daily, weekly even monthly stuff is all nonsense. Its fun to read about but dont let it clutter your mind. Literally just follow the stock to flow model and wait 2-4 years. Only hard decision you have to make is if you want to sell on the potential 2 year dump eoy 2021 to mid 2022, or hold and live with it until the halving in 2024 when prices go back up again. But many believe with institutional money now in, we may not see the dump. Just buy, hold and don't worry about it.Be thankful you didnt live through the previous 10 years where everyone worried if it would ever be accepted by the Institutions, that was the real worry of it failing, covid sped that up and over that huge ramp.

[Bindare_Dundat]

Unless you are a trader, and I dont think you are, then this daily, weekly even monthly stuff is all nonsense. Its fun to read about but dont let it clutter your mind. Literally just follow the stock to flow model and wait 2-4 years. Only hard decision you have to make is if you want to sell on the potential 2 year dump eoy 2021 to mid 2022, or hold and live with it until the halving in 2024 when prices go back up again. But many believe with institutional money now in, we may not see the dump. Just buy, hold and don't worry about it.Be thankful you didnt live through the previous 10 years where everyone worried if it would ever be accepted by the Institutions, that was the real worry of it failing, covid sped that up and over that huge ramp.

I'm just curious. I haven't bought or sold anything since my.last purchase but id like to get into trading more.

Micheal Saylor suggested no one should be trading BTC at all and laughs at anyone that does, so he shares your philosophy. 

By the way Elon Musk just came out and said he's late.to the party but he completly supports BTC

[Army of One]

I'm just curious. I haven't bought or sold anything since my.last purchase but id like to get into trading more.

Micheal Saylor suggested no one should be trading BTC at all and laughs at anyone that does, so he shares your philosophy. 

By the way Elon Musk just came out and said he's late.to the party but he completly supports BTC

if you must do something apart from buy and hold btc, skip the btc trading part theres a 97%+ chance you will lose all your money, thats a known statistic not out of my ass.Instead buy hyped alt coins early on in their cycle that have actual potential, its far easier to make sats/dollars this way.

[Bindare_Dundat]

if you must do something apart from buy and hold btc, skip the btc trading part theres a 97%+ chance you will lose all your money, thats a known statistic not out of my ass.Instead buy hyped alt coins early on in their cycle that have actual potential, its far easier to make sats/dollars this way.

Thanks. I saw all the pumping with certain coins like AVe, Chainlink, Cardero, etc.. but I thought they were way overbought. Do you suggest any?

[Bindare_Dundat]

Coinbase hit record high ranking in the App store. the FOMO lately has been insane.

[Mayday]

Trading you will need deep pockets to get anywhere plus high chance of losing it all as you will make so many transactions you won’t be right all the time.

Musk is one of the world’s biggest trolls. Worth 153B but he is too late to buy BTC......the biggest players were buying 1B worth in December yet he has missed the boat 4 weeks later, poor Elon lol.

I still think he is in some way involved in the creation of BTC or he is a crazy big holder of ETH. There is no way that dude isn’t involved in crypto up to his eyeballs. It’s the exact thing you would expect from him.

[Army of One]

Thanks. I saw all the pumping with certain coins like AVe, Chainlink, Cardero, etc.. but I thought they were way overbought. Do you suggest any?

api3, aka chainlink part 2.

[Mayday]

BTC starting to shoot back up as of this post.

It won’t amount to shit.

I’ll use game of thrones to help in my example.

Think of it like this, John Snow was leading of the rally up to it’s peak and he got killed in battle. Next attempt they sent Jamie Lannister and he got killed. Then greyworm. Then Arya. We are pretty much at the point where that fat kid who makes pies is the current leader to try another attempt to break resistance.

[Bindare_Dundat]

It won’t amount to shit.

I’ll use game of thrones to help in my example.

Think of it like this, John Snow was leading of the rally up to it’s peak and he got killed in battle. Next attempt they sent Jamie Lannister and he got killed. Then greyworm. Then Arya. We are pretty much at the point where that fat kid who makes pies is the current leader to try another attempt to break resistance.

But Arya was the one that killed the Night King. 

[Army of One]

It won’t amount to shit.

I’ll use game of thrones to help in my example.

Think of it like this, John Snow was leading of the rally up to it’s peak and he got killed in battle. Next attempt they sent Jamie Lannister and he got killed. Then greyworm. Then Arya. We are pretty much at the point where that fat kid who makes pies is the current leader to try another attempt to break resistance.

Cant look at the charts at the moment.I wouldnt be surprised if the amount of people in the west interested in stocks has doubled in the past few weeks after the gamestop move, they will all be looking for the next big thing, and btc is always the next big thing.These are not normal times where standard TA works a large percentage of the time.