It was the weeks before Christmas, and not a creature was stirring, not even a mouse...... Remember back when the CME and the CBOE opened the futures market right at the bitcoin top on december 17, 2017, its as if they were all about to celebrate their Merry Christmas. It was a wierd coincidence that soon afterwards, there all of this random FUD, Korea banned ICOs. Indian banned crypto, America had a meeting, really why was that last one FUD? sometimes I get confused by market sentiment. Anyway moving on, obviously it took from 17/12/17 to 2/2/2018 to wipe the gains from 20/10/2017, it was a meteoric rise of 300%, followed by a catastrophometeoric drop of 70%, all within two and half months! At the bottom of that panic drop, from 8200 to $6000 we had two days of huge volume, buying and selling, on bitstamp, of over 10X the daily volume we currently experience, (depending on the exchange), obviously the rich guys were FOMO buying, and the FOMO buyers were panic selling, that is just what naturally happens after a parabolic advance, the rich get richer, the poor get the rich richer, Merry Christmas.
Since that date, February 2, it is apparent that a lot of these bitcoins have been steadily getting sold, it is a good strategy, they bought a lot of bitcoins, frightened a lot of people from the markets, own a controlling share of the market, and then whenever buying pressure weakened at the top, they can open shorts and dump their bitcoins, and in between, they can take advantage of the low liquidity pools of the crypto market and use the newest chart pattern sensation, the BART pattern, to make money on the sly. They must have gotten very rich since December.
So that is the ghost of bitcoins past, the futures market, well timed FUD, and loads of selling at the top. look at the declining volume of those tops, it looks like there aren't many bitcoins left to sell. What incentive do whales have to buy bitcoins at the support of $6000 if they don't have bitcoins left to sell. What did the whales do last time they ran out of bitcoins to sell? Have a think about it.
Since that date, February 2, it is apparent that a lot of these bitcoins have been steadily getting sold, it is a good strategy, they bought a lot of bitcoins, frightened a lot of people from the markets, own a controlling share of the market, and then whenever buying pressure weakened at the top, they can open shorts and dump their bitcoins, and in between, they can take advantage of the low liquidity pools of the crypto market and use the newest chart pattern sensation, the BART pattern, to make money on the sly. They must have gotten very rich since December.
So that is the ghost of bitcoins past, the futures market, well timed FUD, and loads of selling at the top. look at the declining volume of those tops, it looks like there aren't many bitcoins left to sell. What incentive do whales have to buy bitcoins at the support of $6000 if they don't have bitcoins left to sell. What did the whales do last time they ran out of bitcoins to sell? Have a think about it.
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can you see any differences? drop a message if you notice something I missed.