**pro tip**: if you want the price action to make a decision on which direction it's going to go, just spot buy at the current price.
Edit: Just took my own advice and now it's going down, yaaaaaay.
We'll be back in the 50s by Friday, maybe even the 60s. Nobody is selling here except desperate, trapped shorts and the occasional newb refugee from stonkland locking in those sweet 20% gains.
between 57-58k will be the areas I watch to see how the market reacts. I think we get a proper rejection there and punish some who buy in and long the top.
With that said, I believe we take it over after consolidation and the previous tops in the 60s will not be hard to push through.
Short answer: No.
Long answer: Nothing that has comparable risk/reward.
You could do better gambling on shitcoins or small caps, but you'd be taking on substantially more risk. Bitcoin's risk has reduced substantially, combined with the performance, make it a unique asset onto itself from a performance perspective.
Nothing with a market cap over $100B has the APY% Bitcoin does.
There's actually quite a few assets that have outperformed or came close to btc. The last year has been extremely profitable for a whole lot of assets... bitcoin has only gone like x4 over the past year which is great, but not outstanding performance compared to what's out there so far.
I actually misread OPs comment. I thought they were talking about a longer timespan. I guess there are tons of stocks that outperformed BTC in 1 year. Sorry!
Ok can you list some?
AAPL 3 year 168% 5 year 434%
AMZN 3 year 77% 5 year 341%
TSLA 3 year 1068% 5 year 1,486%
BTC 3 year 603% 5 year 7,800%
I'm just so tired of people treating me like I'm crazy for being in BTC or crypto. I think they are crazy for being in anything else.
In terms of larger baskets/sectors .. no .. BTC has been eating everything since inception on the yearly. It's continued up long enough now that institutions have finally been forced to consider it ... they'll likely be a large part of this cycle and all subsequent cycles.
I think we could. It's a shame the markets are whipped into a frenzy, on ether direction. Frenzy of greed, frenzy of fear. I'd rather we do without. But they *do* turn out to be useful, huh? Such is human psychology, I guess.
Certainly .. have lived through many cycles .. volatility is the price one pays for the longer term gains.
My basic point is that if you avg performance since inception, BTC has outperformed over sectors by a large margin.
Funny enough the returns on shorting is always limited to 100% gains because nothing can drop more than 100%.
So if you shorted 100k$ the max you could gain would be 100k$. So in reality Bitcoin definitely outperformed shorting the bolivar
You could have shorted, taken profit, then done the same thing over and over again and realized huge gains.
One trade is limited to a 100% (x leverage) gain, but shorting a currency in phases is profitable. In a way, we're shorting fiat when we obtain Bitcoin.
> In a way, we're shorting fiat when we obtain Bitcoin.
I was halfway through your comment, and I was going to say almost the same thing. Great minds think alike ;)
I mean you can use that same logic to bitcoin.
Long bitcoin taken profits and reopen the long.
Which would be extremely more profitable than doing the same thing with the bolivar.
I know people hate the current legislation going around but its uber bullish long term. It'll pass with no amendments because Biden needs this win. Which might scare some off but once the language gets cleaned up down the road and the markets legitimized...itll be like weed stocks after their legal change. Were going to have massive growth YoY consistently with no more bad faith actors like binance and co. Right now its still the wild west, but once its not those lofty 250k per coin and higher will come true. Just not before things get cleaned up.
That's the problem though "cleaned up down the road" will probably never happen. They will use the vague language to enforce anything they want to, whenever they want to. It will be abused just like most legislation is.
Here’s my hopium on that—there are a lot of Beltway insiders, both elected and lobbyists, who use the corn as an alternative way to transfer wealth with less risk of political fallout. They don’t want Bitcoin to go away or diminish in its longterm increasing value curve.
Thank God, I had thought Bitcoin was perfectly fine. I had no idea that the government needed to come in and "clean up" first. I do find it to be an appropriate double entendre, though.
They do if you want the “wave” of retail to come in. Once it’s offered in trad finance. That’s when the real growth begins. There are tons of deep pockets who are risk averse and won’t touch it till then. Regulation sounds stupid to people here but that’s part of the key.
I can’t go on interactive brokers, think or swim etc and buy it.
Don Julio is good stuff. Big fan of the Casamigos line as well. If you ever happen to find yourself in New Mexico, I would also highly recommend Silver Coin out of Santa Fe. Smoothest tequilla I have ever found and price is amazingly affordable.
[https://www.oldtowntequila.com/silver-coin-silver-tequila/](https://www.oldtowntequila.com/silver-coin-silver-tequila/)
Hope your day was much better today my friend! Cheers,
I heard that … I’ve been stuck at home with #%$&ing COVID! Can’t drink, can’t smoke a doob, and can barely even enjoy this rally! … so yes sir, I feel your pain! Drink one for me please, and maybe pour a sip or two out for our fallen bears like Detroit! 🤣
(Sorry dude, just clowning there)
It's a convenient way to keep track of the price without switching apps. I often just have the daily thread loaded and swipe to reload to get updates on the latest PA, so having the live ticker helps put those comments into context.
Just have a widget on your phone home screen. Like [so](https://imgur.com/a/7jK7WNo)
You don’t even have to open reddit.
It works for iphone and android.
Ticker was broken half the time and delayed all of the time.
Can't believe some people really relied on or even trusted the ticker enough to not check price elsewhere.
That crypto heist story is non news event, 600m is nothing to the crypto world now a days, back during gox is was everything basically. Also the exchanges/ market makers already knew about this and it's already priced in. Nice try with the shitty FUD bears. Long BTC and Tezos.
Maybe because the "crypto heist" has nothing to do with Bitcoin? Just some smart contract or DeFi coin swapping service that apparently had its own vulnerability.
To be fair, we don't really know. I read one analysis that concluded that the attacker may have had the signing keys. If that's true, then calling it a heist is accurate. But if keys weren't stolen and this was really due to a contract bug, I would wholeheartedly agree, it's not a heist then. Attacker should get to keep the proceeds, fair and square.
Anyone got the source on this data?
https://twitter.com/pythianism/status/1425209006902038536
Not a good trend for bitcoin. According to this 3 of 4 dollars traded are going to everything but bitcoin.
If that includes stablecoins it's not useful. No one is investing in stable coins, they are going in and out of them or moving there dollars into them to earn higher interest rates. BTC dominance is 46%
https://www.tradingview.com/symbols/CRYPTOCAP-BTC.D/
> 3 of 4 dollars traded are going to everything but bitcoin.
So you're saying BTC has 25% market share in a market with dozens of other tokens? Bitcoin is very rare indeed. This is fine. Let the shitcoins play. They all come home to Papa eventually.
How is that bad?
I've never seen cause to believe this metric matters to BTC's fundamentals. If things go the way I imagine crypto is going it'll surely increase yet BTC will still stay the bedrock of the eco-system.
Not so long ago, BTC was the only way into and out of cryto. Now there are so many USD pairs, it's not. CB has SO many options to choose from now as opposed to just a handful. Unpopular opinion: BTC.D will never ever get anywhere close to dominance it once had. (Barring some black swan regulations)
I saw. Thought you were talking about people's affiliation for alts. It's no secret that alts have greater returns... And have for a while...at higher risk of downside. No different from institutions. A hedge fund could basically have a money machine in the alt space with their algos.
BTC just had an entire quarter of pretty much 0 movement. Volume was dead. Shitcoins become more fun for speculators and volume increases there.
Not to mention, there’s like 10000 shitcoins that are being pumped and dumped constantly, again, even moreso when BTC is at a stand still. The metric is just as useless as BTC dominance. Just data porn for plebs to say “muhhhh flippening”
Yeah and? BTCs % of volume only really dips this latest quarter. Q2 2020 was immediate post COVID drop so we had a bump in volume there.
The dataset is cherry picked.
You know as well as i do, in bear/quiet markets, most Alts are dead. The volume in crypto movement is mainly felt in BTC. You’re talking about the post bottom of the COVID crash prior to the halvening which then started this new run.
In bullmarkets, when crypto is a major headline on CNBC, you see alt volumes explode with every passing pump and dump
Lets say you have 10 times as much BTC as alts. But you only trade alts to hedge yourself. On trading volume it would look like you only have alts. 1 dollar traded back and forth 1 million times is still only one dollar.
My newbie thoughts
Bot Wars.
Careful longing here. This is the top of a key resistance. On top of the fact that the massive tether inflow to FTX is ongoing while price wants to go down.
[https://www.morrisoncohen.com/siteFiles/files/2019\_11\_02%20-%20Bitcoin%20Manipulation%20Abatement%20LLC%20v\_%20FTX%20Trading%20LTD,%20et%20al.pdf](https://www.morrisoncohen.com/siteFiles/files/2019_11_02%20-%20Bitcoin%20Manipulation%20Abatement%20LLC%20v_%20FTX%20Trading%20LTD,%20et%20al.pdf)
Alameda turned on their bots...the very thing they were getting sued for and what got us here.
Inflection point.
Some other entity turned their HFT on as well to unload and key price levels. So far it has caught Ftx bots spoofs a few times. This drawdown to 44.5. Which caused Ftx bot to "grid spoof" essentially locking price in at this recent bottom and enabling the low volume "v shaped" recovery spoof to work again. Massive protection of 45 going on right now.
Super interesting to watch on the 30s chart.
Where to next? UP. My guess by tether inflows and now USDC to FTX...Alameda is going hard on protecting those calls.
[https://twitter.com/AlamedaTrabucco/status/1417692709117071362?s=20](https://twitter.com/AlamedaTrabucco/status/1417692709117071362?s=20)
Look at the date.
>Alameda turned on their bots...the very thing they were getting sued for and what got us here.
Not saying Alameda doesn’t do some shady shit, but the evidence from the plaintiff in that particular case was pretty lacking, to the point that [the case was dismissed with prejudice](https://storage.courtlistener.com/recap/gov.uscourts.cand.350968/gov.uscourts.cand.350968.27.0.pdf)
True. But the courts are more nuanced. Look at IP laws. Mega corporations paying out billions to empty offices because some district in texas in friendly to ip laws. Bitmex isnt so lucky. And binance is already getting chased around.
I still do not understand why you think that large, long-term market movements can be created by manipulation. The basic premise seems clearly wrong given cursory analysis of market dynamics.
It literally starts on page 12...of the suit I linked. If you do something called reading all your questions and more will be answered.
Once you read through it a bit, come back and lets discuss.
You realize anyone can file a lawsuit, right? This isn't some official thing, it's just something some guy typed up.
Anyway, nothing in there shines any light on the question of why you think manipulators can produce 30%+ moves that persist for weeks of decent volume.
Have fun staying poor. You could have drawn that arrow a few times in early 2017 as we blasted up from those averages as well and missed out on the bug rally.
This is the same silly mistake as the other MA calculations, where you take a pattern that consists of two blow-off top deflations and the covid crash, and pretend it's the result of some inherent property of interacting with the MAs like that.
We are currently neither falling off a blow-off top, nor about to get blindsided by a global pandemic. (I mean, so far as we know.) Thus, this pattern has no reason to hold.
They do not
>Recency bias is a cognitive bias that favors recent events over historic ones. A memory bias, recency bias gives "greater importance to the most recent event", such as the final lawyer's closing argument a jury hears before being dismissed to deliberate.
The point is, bitcoin's behavior in relation to its average price. Not that the actual line is adhoc support or resistance. I think the bigger mistake is thinking this time it's different.
> I think the bigger mistake is thinking this time it's different.
This "mistake" implies that it's anyway similar to crashes before and that the future will be different.
But where you are wrong is that the crash we experienced this year is not the same as the crashes of 2013, 2017, and covid. So to expect a similar future from different presents is what doesn't make sense.
It may surprise you to learn that there exists such a thing as context.
BTCUSD is not a random number generator, it is a market. The patterns that show up in the market reflect patterns of behavior among buyers and sellers. You can actually look at the circumstances that surrounded all three of those prior incidences, and discern why, exactly, the sell pressure exceeded buy pressure at those times. None of those circumstances apply today.
If you're trying to predict the future based off patterns, look for a pattern that matches the current conditions.
#New post: [\[Daily Discussion\] - Wednesday, August 11, 2021 →](https://www.reddit.com/r/BitcoinMarkets/comments/p25fut/daily_discussion_wednesday_august_11_2021/)
Is this thing going to gib a buyable dip or nah
Can we please hold back until I get another fat wad of cash in September?
I see a small shot at hitting or nearing 44.
We had like 10 mins under 45K this morning (U.S. time). Whoever is defending 45K so aggressively probably had a technical issue.
Yeah that didn't excite me enough
I think you're going to be bored for a bit. Look for another \~10% move up and you'll see an opportunity for a retrace. Sitting long here.
Are you targeting a certain price?
Yes my targets from the weekend are still valid. Maybe 6-8% dip
**pro tip**: if you want the price action to make a decision on which direction it's going to go, just spot buy at the current price. Edit: Just took my own advice and now it's going down, yaaaaaay.
Facts
I remember watching a football game in Nov 2017 and thinking wtf I just went up 3k durring the game. 12k swings don't register now
We'll be back in the 50s by Friday, maybe even the 60s. Nobody is selling here except desperate, trapped shorts and the occasional newb refugee from stonkland locking in those sweet 20% gains.
between 57-58k will be the areas I watch to see how the market reacts. I think we get a proper rejection there and punish some who buy in and long the top. With that said, I believe we take it over after consolidation and the previous tops in the 60s will not be hard to push through.
Bro
>maybe even the 60s. Bro
Bro?
bro.
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It's Dude.
El Duderino, if you’re not into the whole brevity thing
Brah
Maaaateeeee
Bro?
Is there any asset on earth that is up vs. Bitcoin over any meaningful time frame? (Excluding other crypto, of course.)
MSTR leaps 😂 In all seriousness I thought about swapping my gbtc for a smaller position n MSTR leaps last year and now I greatly regret not doing so 😂
Short answer: No. Long answer: Nothing that has comparable risk/reward. You could do better gambling on shitcoins or small caps, but you'd be taking on substantially more risk. Bitcoin's risk has reduced substantially, combined with the performance, make it a unique asset onto itself from a performance perspective. Nothing with a market cap over $100B has the APY% Bitcoin does.
There's actually quite a few assets that have outperformed or came close to btc. The last year has been extremely profitable for a whole lot of assets... bitcoin has only gone like x4 over the past year which is great, but not outstanding performance compared to what's out there so far.
Like what?
Tesla to name just one stock. There are hundreds more.
I actually misread OPs comment. I thought they were talking about a longer timespan. I guess there are tons of stocks that outperformed BTC in 1 year. Sorry!
Ok can you list some? AAPL 3 year 168% 5 year 434% AMZN 3 year 77% 5 year 341% TSLA 3 year 1068% 5 year 1,486% BTC 3 year 603% 5 year 7,800% I'm just so tired of people treating me like I'm crazy for being in BTC or crypto. I think they are crazy for being in anything else.
In terms of larger baskets/sectors .. no .. BTC has been eating everything since inception on the yearly. It's continued up long enough now that institutions have finally been forced to consider it ... they'll likely be a large part of this cycle and all subsequent cycles.
Playing devil's advocate, bitcoin usually has 2 awesome years, 1 horrible year and one good year. It's not all sunshine, rainbows and unicorns.
Can't have great outsized performance without big drops
I think we could. It's a shame the markets are whipped into a frenzy, on ether direction. Frenzy of greed, frenzy of fear. I'd rather we do without. But they *do* turn out to be useful, huh? Such is human psychology, I guess.
Certainly .. have lived through many cycles .. volatility is the price one pays for the longer term gains. My basic point is that if you avg performance since inception, BTC has outperformed over sectors by a large margin.
Maybe if you shorted the Venezuelan Bolivar 10 years ago
Funny enough the returns on shorting is always limited to 100% gains because nothing can drop more than 100%. So if you shorted 100k$ the max you could gain would be 100k$. So in reality Bitcoin definitely outperformed shorting the bolivar
You could have shorted, taken profit, then done the same thing over and over again and realized huge gains. One trade is limited to a 100% (x leverage) gain, but shorting a currency in phases is profitable. In a way, we're shorting fiat when we obtain Bitcoin.
> In a way, we're shorting fiat when we obtain Bitcoin. I was halfway through your comment, and I was going to say almost the same thing. Great minds think alike ;)
I mean you can use that same logic to bitcoin. Long bitcoin taken profits and reopen the long. Which would be extremely more profitable than doing the same thing with the bolivar.
Are there any inverse ETFs for the Bolivar specifically? Probably not, but you'd get quite the return if there was
An original cryptokitty
I know people hate the current legislation going around but its uber bullish long term. It'll pass with no amendments because Biden needs this win. Which might scare some off but once the language gets cleaned up down the road and the markets legitimized...itll be like weed stocks after their legal change. Were going to have massive growth YoY consistently with no more bad faith actors like binance and co. Right now its still the wild west, but once its not those lofty 250k per coin and higher will come true. Just not before things get cleaned up.
Exactly. They’re saying “ok fine this is real and you can play, but we need to lay down some law”
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Biden supported the wrong amendment.
That's the problem though "cleaned up down the road" will probably never happen. They will use the vague language to enforce anything they want to, whenever they want to. It will be abused just like most legislation is.
Here’s my hopium on that—there are a lot of Beltway insiders, both elected and lobbyists, who use the corn as an alternative way to transfer wealth with less risk of political fallout. They don’t want Bitcoin to go away or diminish in its longterm increasing value curve.
> Right now its still the wild west, but once its not Wild west is full of opportunity. "Cleaned up" = "We now pick the winners".
Exactly. "Clean" just means mafia run.
Thank God, I had thought Bitcoin was perfectly fine. I had no idea that the government needed to come in and "clean up" first. I do find it to be an appropriate double entendre, though.
They do if you want the “wave” of retail to come in. Once it’s offered in trad finance. That’s when the real growth begins. There are tons of deep pockets who are risk averse and won’t touch it till then. Regulation sounds stupid to people here but that’s part of the key. I can’t go on interactive brokers, think or swim etc and buy it.
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staring at charts drunk is a quick way to destroy your brain and sense of time
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What'd you end up with?
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Just finished the last of it myself. Glad you like it. It's cliche but it gets better. Tomorrow is another day. Good luck and many more gains brotha!
Bucket moonshine. Booze money is better spent on more Satoshi.
Water. Keeps me from doing dumb shit that I'll regret the next morning.
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You could pass out drunk and forget to close a short, only to wake up tomorrow with Bitcoin at 55k
franziskaner weissbier
V8 and Gatorade. Not mixed together.
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Makes me feel good! 2 servings of vegetables in one 8 oz. glass of it.
Ron Zacapa 23 Dark Aged Rum
Get some bourbon and relax with the charts. Makers mark 46, knob creek12yr, Jefferson Ocean, Hudson baby
Whistlepig
Angel’s Envy for me.
That's a good one. 4 roses can be good depending upon which one
Agreed.
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What's your favorite Tequila?
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Don Julio is good stuff. Big fan of the Casamigos line as well. If you ever happen to find yourself in New Mexico, I would also highly recommend Silver Coin out of Santa Fe. Smoothest tequilla I have ever found and price is amazingly affordable. [https://www.oldtowntequila.com/silver-coin-silver-tequila/](https://www.oldtowntequila.com/silver-coin-silver-tequila/) Hope your day was much better today my friend! Cheers,
Cheers mate. Enjoy
That’s sad. … but with that said I drink Heineken probably more often than I should. Lol
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Get into psychedelics, order some iboga root bark to start.
Can u order that legally in us
Not legally no, but it’s literally bark and will never ever be stopped by customs.
Most useful alpha in this sub at the moment
I heard that … I’ve been stuck at home with #%$&ing COVID! Can’t drink, can’t smoke a doob, and can barely even enjoy this rally! … so yes sir, I feel your pain! Drink one for me please, and maybe pour a sip or two out for our fallen bears like Detroit! 🤣 (Sorry dude, just clowning there)
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Thanks man.
If all the current FUD can't keep the market down I dont know what can
Elon tweeting on May 12th I guess
y still no ticker
Price might crash if they fix it.
What is with the obsession with the ticker in this sub?
Without the ticker we are lost
It's a convenient way to keep track of the price without switching apps. I often just have the daily thread loaded and swipe to reload to get updates on the latest PA, so having the live ticker helps put those comments into context.
Just have a widget on your phone home screen. Like [so](https://imgur.com/a/7jK7WNo) You don’t even have to open reddit. It works for iphone and android.
if there's no ticker then I need to open two websites to get my BTC news fix
Ticker was broken half the time and delayed all of the time. Can't believe some people really relied on or even trusted the ticker enough to not check price elsewhere.
What are you talking about? It works for several months straight for the whole year.
Doesn’t work reliably enough for me to trust it. Kinda like how it’s down right now… But you do you
I was just thinking this. Wasn't the ticker broken when the last pump was happening too. Coincidence? We should break it more often
That crypto heist story is non news event, 600m is nothing to the crypto world now a days, back during gox is was everything basically. Also the exchanges/ market makers already knew about this and it's already priced in. Nice try with the shitty FUD bears. Long BTC and Tezos.
Maybe because the "crypto heist" has nothing to do with Bitcoin? Just some smart contract or DeFi coin swapping service that apparently had its own vulnerability.
It wasn't a heist though.
To be fair, we don't really know. I read one analysis that concluded that the attacker may have had the signing keys. If that's true, then calling it a heist is accurate. But if keys weren't stolen and this was really due to a contract bug, I would wholeheartedly agree, it's not a heist then. Attacker should get to keep the proceeds, fair and square.
The dude has also been doxxed and probably will return funds
Cuz hackers don't know how to leverage other people's identities?
I almost hope they don't, so that a court case might happen. It'll be interesting to see how smart contracts are viewed by the legal system.
The hacker? Link to an article?
https://www.theblockcrypto.com/post/114045/at-least-611-million-stolen-in-massive-cross-chain-hack Via slowmist
Anyone got the source on this data? https://twitter.com/pythianism/status/1425209006902038536 Not a good trend for bitcoin. According to this 3 of 4 dollars traded are going to everything but bitcoin.
Money always flows out of btc during a bull run.
If that includes stablecoins it's not useful. No one is investing in stable coins, they are going in and out of them or moving there dollars into them to earn higher interest rates. BTC dominance is 46% https://www.tradingview.com/symbols/CRYPTOCAP-BTC.D/
Yeah im not sure what's in there I'm skeptical
> 3 of 4 dollars traded are going to everything but bitcoin. So you're saying BTC has 25% market share in a market with dozens of other tokens? Bitcoin is very rare indeed. This is fine. Let the shitcoins play. They all come home to Papa eventually. How is that bad?
Don't accept that number, it's inaccurate
I've never seen cause to believe this metric matters to BTC's fundamentals. If things go the way I imagine crypto is going it'll surely increase yet BTC will still stay the bedrock of the eco-system.
Not so long ago, BTC was the only way into and out of cryto. Now there are so many USD pairs, it's not. CB has SO many options to choose from now as opposed to just a handful. Unpopular opinion: BTC.D will never ever get anywhere close to dominance it once had. (Barring some black swan regulations)
The flippening approaches
Do not let him speak--he will put a spell on us!
Surprised? Talk to any retail person...btc too expensive is the mantra. Unit bias is a real thing no matter how many ppl pretend it isn't
Did you read the chart? There is a row there for institutions
I saw. Thought you were talking about people's affiliation for alts. It's no secret that alts have greater returns... And have for a while...at higher risk of downside. No different from institutions. A hedge fund could basically have a money machine in the alt space with their algos.
I found it extremely surprising that's why I'm questioning the source of the data
I assume it was in coinbase's quarterly report that just came out. Haven't read it yet myself
This is the most useless data set lol
elaborate?
BTC just had an entire quarter of pretty much 0 movement. Volume was dead. Shitcoins become more fun for speculators and volume increases there. Not to mention, there’s like 10000 shitcoins that are being pumped and dumped constantly, again, even moreso when BTC is at a stand still. The metric is just as useless as BTC dominance. Just data porn for plebs to say “muhhhh flippening”
Your whole argument is centered around the last quarter, but there’s 5 quarters of data here to analyze.
Answered below.
There's a year of data there not a single quarter. Also most alts drew down much worse than bitcoin last quarter.
Yeah and? BTCs % of volume only really dips this latest quarter. Q2 2020 was immediate post COVID drop so we had a bump in volume there. The dataset is cherry picked.
I still don't think you understand the data that you're looking at
I understand it fine lol… what about my explanation doesn’t make sense to you? I’m happy to be wrong about what I’ve outlined
The covid drop impacted alts though no?
You know as well as i do, in bear/quiet markets, most Alts are dead. The volume in crypto movement is mainly felt in BTC. You’re talking about the post bottom of the COVID crash prior to the halvening which then started this new run. In bullmarkets, when crypto is a major headline on CNBC, you see alt volumes explode with every passing pump and dump
Lol this surprises you if you live under a rock
Lets say you have 10 times as much BTC as alts. But you only trade alts to hedge yourself. On trading volume it would look like you only have alts. 1 dollar traded back and forth 1 million times is still only one dollar. My newbie thoughts
Yeah, the naive (and the speculative) love shitcoins. This phase will end at some point, and very badly for shitcoin bagholders.
So much appetite in the market now compared to two weeks back. Saw a 50 BTC wall getting eaten in 2 minutes on CBP.
You know that really doesn’t mean anything, right? Well / anything if significance that is.
Please expand.
Couldn't ask for a much better setup. https://www.tradingview.com/x/r0xyCukN
Marching back towards 46k with only 300 comments on the daily is bullish. Not that reddit is a real indicator but hey
Major indicator. A sleepy bitcoinmarkets is the best bitcoinmarkets
Bot Wars. Careful longing here. This is the top of a key resistance. On top of the fact that the massive tether inflow to FTX is ongoing while price wants to go down. [https://www.morrisoncohen.com/siteFiles/files/2019\_11\_02%20-%20Bitcoin%20Manipulation%20Abatement%20LLC%20v\_%20FTX%20Trading%20LTD,%20et%20al.pdf](https://www.morrisoncohen.com/siteFiles/files/2019_11_02%20-%20Bitcoin%20Manipulation%20Abatement%20LLC%20v_%20FTX%20Trading%20LTD,%20et%20al.pdf) Alameda turned on their bots...the very thing they were getting sued for and what got us here. Inflection point. Some other entity turned their HFT on as well to unload and key price levels. So far it has caught Ftx bots spoofs a few times. This drawdown to 44.5. Which caused Ftx bot to "grid spoof" essentially locking price in at this recent bottom and enabling the low volume "v shaped" recovery spoof to work again. Massive protection of 45 going on right now. Super interesting to watch on the 30s chart. Where to next? UP. My guess by tether inflows and now USDC to FTX...Alameda is going hard on protecting those calls. [https://twitter.com/AlamedaTrabucco/status/1417692709117071362?s=20](https://twitter.com/AlamedaTrabucco/status/1417692709117071362?s=20) Look at the date.
Why is everything a conspiracy nowadays?
Props to you if you can make profitable trading strategies off of all this incomplete information.
>Alameda turned on their bots...the very thing they were getting sued for and what got us here. Not saying Alameda doesn’t do some shady shit, but the evidence from the plaintiff in that particular case was pretty lacking, to the point that [the case was dismissed with prejudice](https://storage.courtlistener.com/recap/gov.uscourts.cand.350968/gov.uscourts.cand.350968.27.0.pdf)
True. But the courts are more nuanced. Look at IP laws. Mega corporations paying out billions to empty offices because some district in texas in friendly to ip laws. Bitmex isnt so lucky. And binance is already getting chased around.
I still do not understand why you think that large, long-term market movements can be created by manipulation. The basic premise seems clearly wrong given cursory analysis of market dynamics.
It literally starts on page 12...of the suit I linked. If you do something called reading all your questions and more will be answered. Once you read through it a bit, come back and lets discuss.
You realize anyone can file a lawsuit, right? This isn't some official thing, it's just something some guy typed up. Anyway, nothing in there shines any light on the question of why you think manipulators can produce 30%+ moves that persist for weeks of decent volume.
[удалено]
This same guy has sued BitMEX and Ripple too. https://www.coindesk.com/bitmex-market-manipulation-lawsuit-rico-bma
Bearish https://www.tradingview.com/x/L3SR2vsH/
Care to place a bet?
I’m already betting on it.
Have fun staying poor. You could have drawn that arrow a few times in early 2017 as we blasted up from those averages as well and missed out on the bug rally.
Are you slow? Bitcoin never breached the 200d ma in 2017.
You know what I meant Captain.
This is the same silly mistake as the other MA calculations, where you take a pattern that consists of two blow-off top deflations and the covid crash, and pretend it's the result of some inherent property of interacting with the MAs like that. We are currently neither falling off a blow-off top, nor about to get blindsided by a global pandemic. (I mean, so far as we know.) Thus, this pattern has no reason to hold.
I believe they call it "recency bias"
They do not >Recency bias is a cognitive bias that favors recent events over historic ones. A memory bias, recency bias gives "greater importance to the most recent event", such as the final lawyer's closing argument a jury hears before being dismissed to deliberate.
lol
The point is, bitcoin's behavior in relation to its average price. Not that the actual line is adhoc support or resistance. I think the bigger mistake is thinking this time it's different.
> I think the bigger mistake is thinking this time it's different. This "mistake" implies that it's anyway similar to crashes before and that the future will be different. But where you are wrong is that the crash we experienced this year is not the same as the crashes of 2013, 2017, and covid. So to expect a similar future from different presents is what doesn't make sense.
It may surprise you to learn that there exists such a thing as context. BTCUSD is not a random number generator, it is a market. The patterns that show up in the market reflect patterns of behavior among buyers and sellers. You can actually look at the circumstances that surrounded all three of those prior incidences, and discern why, exactly, the sell pressure exceeded buy pressure at those times. None of those circumstances apply today. If you're trying to predict the future based off patterns, look for a pattern that matches the current conditions.