Strategy: Im sure you've heard the comments about BTC Future market manipulation floating around, and if you haven't - have a look into it. Im still not sure about the whole thing, but i do find it odd that the expiry dates lined up perfectly with the market crash. With that in mind, if it is true, then we should see a repeat pattern on the 24-26th of January, and again on the 12th-14th of February.
This is my buying/selling strategy for this week, however we all know how tricky those whales can be! Lets see what happens next week. If this is indeed a wallstreet heist, then we can expect a heartbreaking crash on valentines day.
Opinion: Theyll shake us down not once, twice, but 3 times - filling their pockets with filthy lucre. Once the heist is complete, theyll pay the media to rattle off about the instability of crypto, forcing the remaining weak hands to cut their losses. people will move on, wells fargo will get their money back, and gamers will get their cheap video cards again.
I am by no means an expert, this is just my ideas on whats going on. Please comment with agree/disagree points! conversation is crucial.
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I dont mean to sound dismal, and i dont think this is the end. I do however belive that by the end of february us crypto nerds are going to have some bruises if we dont stay alert. Were taking away from a pretty rooted bunch of old men who are know for their aggression. We have to play smart if we want to make a change.
We will get bruises but crypto is not going anywhere...you cannot kill an idea when it is so great
jbbrunner10
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@retiringsoon1, I agree 100%
they can take whatever they want but in the end its just a bunch of old dudes doing what theyve always done. BTC and Crypto are an entirely new way of doing things... Its not going anywhere.
jruark88
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@retiringsoon1, sure you can when there are 0 regulations. Look whats happening in South Korea, trying to ban all crypto currency trading. IMO it is a dying idea, just once the dust settles, it will end with major rules just like Forex, Stocks, bonds, Futures. Great idea can be shut down, real money over digital, what happends when a hacking group like Anonymous, hacks and takes everything everyone has and encrypts it so its not retracable?
darkandblue
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@jruark88, system will fix itself,programs will be fixed and we will move on.SK is not banning anything; even if they did the people will find a way..i live in Europe but trade in Coinbase(USA) and Binance(CN). also the banks have found a way to play this via futures. As long as they are making money, the cryptos will stay.
jruark88
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@retiringsoon1, correct as long as they are making money, but only if it is invisible. Crypto you cant hide and manipulate like stocks on a national level. Crypto is all hype, to many internal issues for it to stay.
How does a system fix itself? Normal Banks here in America are not making any money. Most don't even have bitcoin, because of the liability. I sure the hell can't go in a bank and get crypto, why do you think you can only get it from sketchy or shady websites? Only if you have millions of dollars makes crypto relevant.
darkandblue
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@jruark88, soon you can do it in Switzerland,according to the banking authorities
ncx
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Im still not sure about the whole thing, but i do find it odd that the expiry dates lined up perfectly with the market crash. - Hey i know that. Always when theres an important decision in the currencies, like interest or inflation rates, in the dollar or euro, and that is known in advance, exactly at that day an upper or lower key level is reached where a new movement starts in one or the other direction. i also observed this with stocks and the quarterly reports where the date is known in advance. so thats absolutely right, even if it doesn't always happen it's a noticable pattern. but for bitcoin there is no central instance or date, well sometimes forks, or the beginning of the futures trades. but i'm not sure how much the expire is contributing to the market. i think that has to be observed yet. could be that the market shows a reaction, but much smaller than expected or showing a reaction indeed, but recovering very quickly like it never happened. my feeling is that bitcoin is more driven by good or bad news, with bad news having not always but often more impact and the price reactions are not really predictable unless there is the big story.
regarding the news, if media is reporting always positive news, especially after the drop, it's good. media report this because it's interesting for people and fits in their news format. but the media hype is getting weaker as the topic becomes older, because no one cares anymore if the bitcoin drops or not and there are different and probably more interesting topics waiting this year. for example, it's still not clear how much regulation there will be in the european countries and america. that lets certainly speculation open for a sharp market reaction because it could directly affect trading. on the other hand there are still etfs and other financial products waiting, or future for altcoins or even totally different things.
and since the bitcoins and altcoins are more news and sentiment driven, i think you always have to be ready for a fundamental market change, especially if the price moves within an expected range, at one point there will be unexpected or erratic behaviour, no matter in which direction or even sidewards, and that fuels real fear much more than the more or less predictable drop.
jbbrunner10
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@ncx, I see what you mean! there is a pile of uncertainty involved with this market and because of its young age, alot of volatility aswell! however, i think that at this point, Bitcoin & Crypto have finally caught the public eye, BTC has become a household name! This fact alone scares the bankers, or at least makes them laugh and deny its success. Either way, they still are going to mess with it. These banks have an incredible amount of money, and they dont have buy up the whole maket to make it crash, all they have to do is tip the scales enough to trigger everyone elses stop loss/FUD. Suddenly everyone dumping at the same time..
I just dont see the average joes being able to turn the market upside down in an afternoon. Its just too crazy. Most of us arent tranding more than 10k a week, while just 2 banks could whale out half of the entire market! Check out these huge numbers from last year.
Im totally open to being wrong, but my guts tell me theres something fishy going on, and by fishy I mean Whaley.
Im excited to see what happens this coming week, itll be a really good indicator for what to expect in the coming month!
ncx
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@jbbrunner10, well imho already a lot of the expectations about the btc has been priced in already, even if there's more room. i think it's naive to think it will always continue like it did the last months, just because the whole scenario is too perfect to be true after last year. it even could be a relief if it stops and we see a bit more stabilization and less volatility at a certain point. looking short term i can't really see how the futures or any hedge fonds or whatever stabilized the market. might take it's time. and yeah i totally agree that the sentiment has changed in the last months but market sentiment is quite often wrong and can change very sudden. if we make another 100 percent or so the next weeks i dont know who's still pumping money in the market. could happen but looks totally unreal for me