1) fake 6k bottom 2) thus failed pump 3) thus harsh punishment 4) finally successful pump 5) ?!? what will they do next ?!?
that latest pump was not just some new player coming in with fresh fiat, that was from the same whales that have been trying to manipulate the markets for years and finally got 1 move right ;-)
how I see it, 2 possibilities; 1) the same group of whales pump another 400-500-600 million USD into the btc market ... they're probably doing that right now ... which is why it keeps pumping; it's them !! 2) massive correction
combined with the assumption that they know that as well; I can't imagine they would just let it drop again, so ... they don't really have any other option but to keep pumping fiat into the market, it's do or die for them
nothing personal, but I hope they fail and that we see a massive correction; a small group of whales controlling the market ... that's not how it supposed to be
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let's add some numbers and do some calculations
what would I do if I have 1 million bitcoins and 1 billion usd dollars and the price of bitcoin is at 4k ?
I would buy 25k bitcoins for 100 million dollar and from there on keep buying until we break 8k in the hopes we reach that before I run out of cash ...
PS: I wouldn't be doing that alone either; I would have a team of experts, each with their own team and then a coordination team etc etc ... I would have at least 200 people working on this
because at 4k my 1 million bitcoins are worth 4 billion, but at 6k ... it's 6 billion ... that's worth paying a huge fucking team ...
and now we can run that assumption again, but then with a group of whales that are all together worth somewhere between the 3 to 5 million bitcoins and they have more than billions of cash at hand, they also have hundreds of millions revenue streams and thousands of contacts to influence to make sure nobody sells until we reach 8k ... that's when we'll see a massive drop, because once they reach 8k, that should then mean 6k is the support
that such theories only work in an organic market might be the thing they failed to learn from their fake 6k bottom before ...
if they keep pumping to 8k to then let go, thinking it's safe as it will bounce off the 6k level ... I predict the most massive, spectacular drop in bitcoin history, it will be a day to remember
again ... just guessing, because my TA tells me we're to get a correction before we reach 7k, which those whales can see as well, so ... will they pump? do they have enough hundreds of millions left to break 7k and push for 8k ... I don't know
we'll know soon enough
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well ... they're almost there ... once they break the 8k level, they can take let it go ... assuming it will take a dive, but that the 6k level will hold
lots of assumptions ... wait and see if they break the 8k first
yes, that's why this time it worked; there was also real demand
yes, people buying, even if it's for 100.000.00, that's not manipulation
no, what bitfinex with their tether is up to and all those other problems with the exchanges; that's pure fraud, nothing else
BDG
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These are not your normal whales that is pumping BTC. Whales are usually in the market for a couple of days and then they wait for a week or two then they dump. That is not what is happening since April 1st. Who are the pumpers trying to entice to buy at $6500? Not the average Joe that's for sure. The Joe's are too scared of a correction. Are they pumping it for the retail buyer like Fidelity? The pumpers are not acting like the whales we've seen for the past year. The new players have a lot more money. We are seeing a new player that can buy up BTC like no tomorrow. BTC broke through the $6300 resistance level like it was tissue paper. The $6300 resistance level took a year to build, and last night they shot through it without so much as a pullback. Someone is vacuuming up all the BTC it can and price doesn't seem to matter to them. Since April 1st, BTC has gone up 67%. In these 39 days, there were only 8 down days. That means there were 4.875 Up days for every Down day. Whales usually only pump for a couple of days and watch the FOMO crowd buy in. But we have seen massive pumping for the past 39 days. Whales do not do that because they do not have enough money and the longer they run their scam, the higher the risk of something going wrong. Whoever these buyers are, they have a few billion dollars backing them. They are not whales. They are more like a megalodon. Are we going to see a massive dump? Not if these megalodon's are buying for Wall Street.
whales that hold more than 100k bitcoin don't want to dump ... they need that price to stay above 6k, because they spend bitcoin and at 6k they only have to spend half as when it's at 3k
we know for sure that the trigger; the 4-5k pump was coordinated, then they've been buying out all the selling orders, so that normal buys push the price
probably bitmain and other miners; they need that price to stay above 6k otherwise they're bleeding too many btc's
this is pure about the accounting of the companies behind so many btc related services; they need 6k otherwise they're not breaking even, which means they lose btc
to them it's not about making more fiat money from these trades; it's about the value of the bitcoin ... they have millions of them
pedro17
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@BDG, Also there is a massive "flight of Capitol" from China and Iran going on as their $$ loses value due to sanctions and tariffs, A lot of that is being converted into BTC.
BDG
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@pedro17, I too would have thought Chinese citizens would be grabbing up BTC too as their country will be devaluing the yuan. ! But according to Coindance, Chinese volume is down considerably. (South American countries are buying a lot more crypto lately because their currencies are producting high inflation.) coin.dance/volume/localbitcoins
As you probably know, wash trading accounts for around 80% of volume on the exchanges. There is no way these exchanges can trade 30% to 50% of their market cap in one day. news.bitcoin.com/bti-crypto-exchanges-volume/
There may be hope coming.
This website claims to have accurate daily volume for each crypto. Their volume is a fraction of what we're used to. I don't know how accurate it is, but it is a step in the right direction. messari.io/onchainfx
And from what I've heard cryptomarketcap will be cracking down on exchanges to provide accurate volume or they will delist the exchange from their website. Ouch! There may be new regulations coming for exchanges and we may see the text within 30 days. This is just a rumor and I'm hoping it is true. Maybe we will be seeing accurate exchange volume by the end of the year. Let's hope so.