BTC has a pennant going on, not sure which way it breaks. Probably the same direction as the market next week, and my indicators do not show a direction.
I think the play here is to short if it backtests the previous support. Could just tank though, lol.
Still think it eventually goes to zero, Ponzi schemes usually implode during a recession.
I think the play here is to short if it backtests the previous support. Could just tank though, lol.
Still think it eventually goes to zero, Ponzi schemes usually implode during a recession.
Comment:
BTW, $288 million dollars worth of ETH was stolen from FTX, whoever controls that can easily manipulate ETH prices. The easiest way to wash that money is to short ETH with a legal account and dump the stolen ETH into BTC or some other crypto. then they can flip flop and short BTC then convert back to ETH.
That kind of money, it's easy to manipulate the market, especially altcoins. I don't recommend buying crypto until the stolen ETH is recovered. You'd have to be insane to buy right now.
That kind of money, it's easy to manipulate the market, especially altcoins. I don't recommend buying crypto until the stolen ETH is recovered. You'd have to be insane to buy right now.
Comment:
While altcoins are easier to manipulate, I think ETH and BTC are probably going to get targeted because it's easier to short through futures.
If I had $288 million dollars worth of illegal ETH, that's what I would do. Just keep flip flopping between the two while shorting whichever one I intend to sell. Easy money.
If I had $288 million dollars worth of illegal ETH, that's what I would do. Just keep flip flopping between the two while shorting whichever one I intend to sell. Easy money.
FTX scam explains why this garbage was able to hold $20k for so long, these exchanges are "borrowing" customer money and buying more crypto, lol. Probably the same crap happens here at $16k, then when it breaks it's headed below $13k.