The 6K war | Bitcoin and Crypto TRADING as a whole is cancer
I have been in this space since mid-2017, made some money, lost some money. Learned a lot in the way.
I have lost of all my faith in the value of crypto TRADING, in the recent week I have seen so many price manipulations which would be illegal on regulated markets.
I do believe that 80%+ of the activity nowadays is artificial, there is a high chance that you play against the exchange itself which 'paints' a pattern to make you enter a position and then crush it to get you rekt/ make you lose money.
If anyone saw the pump and dump of btc on Bitfinex yesterday from 6200-6500 to 6200 again - it looked like it was done by the same entity that it buying and selling at the same time with two different accounts.
I do think that it is highly possible that the crypto hype is so 2017, it is dead and we should get over it and move on.
Blockchain tech has its place in the world... and Ripple's tech is already implanted in the industry and will continue to grow adoption.
About my 'TA' my gamble is: Since btc never went above his 2017 20K peak - it never will, the wedge on the weekly candles in closing with lower highs of each rally - Moon Boys will bet on new ATH of course..I think that the price will hit the 9K area and then all of the whales will dump all of their bags on the heads of the moon boys that expect 50K.
Another possibility is that we might see a huge bounce up - just to liquidate the shorts, then a massive dump. Same as it was from 3200 to 13K - but this time it will be way more violent.
A week ago we saw that buyers defend the 5K, this week it is the 6K.
Due to correlation to the S&P 500 which was proven by other posters, my gamble is that this war is between the industry bulls that want to protect their plan and dump the price on THEIR time VS the Wall Street bulls that dump it now due to the correct crisis.
This time, I hope that Wall Street will WIN this fight.
I have lost of all my faith in the value of crypto TRADING, in the recent week I have seen so many price manipulations which would be illegal on regulated markets.
I do believe that 80%+ of the activity nowadays is artificial, there is a high chance that you play against the exchange itself which 'paints' a pattern to make you enter a position and then crush it to get you rekt/ make you lose money.
If anyone saw the pump and dump of btc on Bitfinex yesterday from 6200-6500 to 6200 again - it looked like it was done by the same entity that it buying and selling at the same time with two different accounts.
I do think that it is highly possible that the crypto hype is so 2017, it is dead and we should get over it and move on.
Blockchain tech has its place in the world... and Ripple's tech is already implanted in the industry and will continue to grow adoption.
About my 'TA' my gamble is: Since btc never went above his 2017 20K peak - it never will, the wedge on the weekly candles in closing with lower highs of each rally - Moon Boys will bet on new ATH of course..I think that the price will hit the 9K area and then all of the whales will dump all of their bags on the heads of the moon boys that expect 50K.
Another possibility is that we might see a huge bounce up - just to liquidate the shorts, then a massive dump. Same as it was from 3200 to 13K - but this time it will be way more violent.
A week ago we saw that buyers defend the 5K, this week it is the 6K.
Due to correlation to the S&P 500 which was proven by other posters, my gamble is that this war is between the industry bulls that want to protect their plan and dump the price on THEIR time VS the Wall Street bulls that dump it now due to the correct crisis.
This time, I hope that Wall Street will WIN this fight.
Comment:
The prediction is fulfilling, lets see what happens at 9K
Haven't seen something like that in a long time.
Have you?
Total amount for the 5K is bigger than the total amount sell wall up to 4 MILLION $.
The whales are brewing the biggest move since 2017.