Bitcoin is a market of supply and demand. Pure economics devoid of government influence. Some would say Capitalism at its finest.
Was it invented in the home of capitalism? probably not. Who controls the supply? Well I thik we can all agree on that. Chinese miners are by far the largest player and if this last year of political wrangling has taught us anything, it is that the state controls everything in China down to the last detail. They will drag you from your home to stop a virus and will invent sites like Tik Tok to mine your personal preferences. So why wouldnt they have a hand in controlling the crypto space. its been a long road for them to lure in the bigger money but im guessing beating the US at pure capitalism is quite a prize.
So where are at the moment.
In recent months several large..ish hedge funds have invested reasonable figures in Bitcoin...and removed a chunk of liquidity from the exchanges.
The price is now heavily weighted to the supply side in the short term. This is why we see no organic rise in volume. In fact volume is at 50%ish of the run to 20K.
Usually you would see the miners, (controlled mainly in China) fuelling the supply side of the curve. Selling their new coin to pay the bills and make some profit. But they aren't...well only enough to service the demand and squeeze the price higher.
Where will it go...the price that is...who knows..
This is a game of cat and mouse...by Geo-political opposites. I would suggest to any small retail investor to stay the hell away. If your in, take your profit but many wont...greed doesnt work that way.
Supply is King and when the trigger is pulled it'll fall fastr than the north tower
Gehko proclaimed that 'greed is good, greed works'. In this instance I think it does untilsomeone says it doesnt and when the Chinese decide to pull the trigger, they will be holding an awful lot of dollars that once belonged to American hedge fund investors...
Happy New Year to all...dont play with anything you cant kiss goodbye to...and still sleep soundly.
Was it invented in the home of capitalism? probably not. Who controls the supply? Well I thik we can all agree on that. Chinese miners are by far the largest player and if this last year of political wrangling has taught us anything, it is that the state controls everything in China down to the last detail. They will drag you from your home to stop a virus and will invent sites like Tik Tok to mine your personal preferences. So why wouldnt they have a hand in controlling the crypto space. its been a long road for them to lure in the bigger money but im guessing beating the US at pure capitalism is quite a prize.
So where are at the moment.
In recent months several large..ish hedge funds have invested reasonable figures in Bitcoin...and removed a chunk of liquidity from the exchanges.
The price is now heavily weighted to the supply side in the short term. This is why we see no organic rise in volume. In fact volume is at 50%ish of the run to 20K.
Usually you would see the miners, (controlled mainly in China) fuelling the supply side of the curve. Selling their new coin to pay the bills and make some profit. But they aren't...well only enough to service the demand and squeeze the price higher.
Where will it go...the price that is...who knows..
This is a game of cat and mouse...by Geo-political opposites. I would suggest to any small retail investor to stay the hell away. If your in, take your profit but many wont...greed doesnt work that way.
Supply is King and when the trigger is pulled it'll fall fastr than the north tower
Gehko proclaimed that 'greed is good, greed works'. In this instance I think it does untilsomeone says it doesnt and when the Chinese decide to pull the trigger, they will be holding an awful lot of dollars that once belonged to American hedge fund investors...
Happy New Year to all...dont play with anything you cant kiss goodbye to...and still sleep soundly.