Price propping, but no fiat inflow | Sub 2k next before 3 digits
Price manipulation at its finest. I've been watching the level 2 and 3 orderflow last week for a good portion of time to see if real fiat is coming in, but nope. Price being propped up by exchanges:
- On tether exchanges with tether, you could already see it coming when the big packages arrived;
- On fiat exchanges when they move sellwalls each second without a single coin being bought, shitty vol to get washtraded in consolidation over and over again for the same price.
Despite the big boys scaling out at 2.4k and lower (while some already have to cash out for christmas) at regulated exchanges as cme and cboe, price is being artifically being propped up to ruin overleveraged traders and get some small pocket money from retail joe fomos.
From a psychological point of view, I've observed the greed of exchanges trying to become the next era of banks, which is more terrifying than the traditional banking system and I don't think they will even survive Q3-Q4 '19. In fact, I think they will shutdown their operations before they get audited to cover up their sh#t, be it fake hack stories or pure insolvency.
Why insolvency? Observe what happened above 6k. No new money coming in, exchange owners saying "this is the bottom" while those same hypocrits were firing employees because the revenue sucked.
Guess what, if the price gets pumped by these exchanges and we range here without ever having tapped the liquidity pool at 3k, the same sh#t will happen again.
There are two choices right now:
- Capitulate to sub 1k to get this bear market over with and yes, I've observed the books for months and everything above 1k bids is a joke in total fiat value;
- Extend the time period by sheer greed to sell their enormous bags to pocket money and therefore ruining their income statements for the future.
If we go to the latter route, then there is no point to have any money on those exchanges due to third party risk and then you should have zero cents on those exchanges. Instead of customers being threated like a king, big accounts get countertraded and stopped out on the cent or pumps with no vol while the books are being moved on the same second from both sides.
Even if exchanges do not manipulate, they do nothing to prevent it and therefore are a thorn in the eyes of regulators who say "see, the free market does not work" and more rhetoric and they're right, why would they when they gain from it at the expense of you, so you get screwed in any case in a different way.
Don't believe the bullsh#t news either, they're selling you a narrative and probably are countertrading you. Use your brain. This is most likely my last idea for years to come, because I'm pretty damn sure most exchanges are closing, either voluntary or by force and they will do everything to squeeze that last dollar out of the market, so I guess we both get the extended bear market for multiple years and that capitulation at much lower prices near $450, because that supply will probably be either confiscated and market dumped or dumped by themselves due to lack of time, since liquidity in crypto is bad.
It will take a lot of time before this market will gain trust from the public again and smart money is probably accumulating for all that time to take it to the next bullcycle.
That being said, as you can see, I've changed my mind on crypto and I'm very bearish now while almost EVERYONE is euphoric now that it's pumping at a trading price of $4.2k as the moment of writing with entire shitcoin market being propped up by those same entities who will dump on the last retail guys who also are goign to buy the retracement/correction. No, the next time it will dump hard and take your liquidity so you can think twice about what you've did.
Buying retracements is not good either as FOMO'ing in at a pump in a severe bear market.
Also, from a global and macro point of view, we're most likely heading in to a recession and crypto has intrinsically zero value, which I've warned 1 month in advance in my idea about the S&P while almost everyone was making long calls here on tradingview and television. Why you still listen to those people. Get awake and be consciouss and see life for what it is. You guys in crypto are extremely naive people and you gonna get burned as a life lesson for it if you don't change in time. Don't get me wrong, I love Bitcoin and I will be a buyer again, but price has nothing to do with it. The bottom was set with tether at $220 and your entire perspective is based on that while you don't even know it and you probably don't know the breakout happened at 2k because of the inflow of it, so I expected 2k MINIMUM.
You guys will call it a black swan event in the future while everything was very predictable beforehand.
Have a wonderful Christmas and a Happy New Year in advance. Take care of your family and yourself first, it's way more important than money, since money is just a means to what you want to achieve. Take care my friends.
- On tether exchanges with tether, you could already see it coming when the big packages arrived;
- On fiat exchanges when they move sellwalls each second without a single coin being bought, shitty vol to get washtraded in consolidation over and over again for the same price.
Despite the big boys scaling out at 2.4k and lower (while some already have to cash out for christmas) at regulated exchanges as cme and cboe, price is being artifically being propped up to ruin overleveraged traders and get some small pocket money from retail joe fomos.
From a psychological point of view, I've observed the greed of exchanges trying to become the next era of banks, which is more terrifying than the traditional banking system and I don't think they will even survive Q3-Q4 '19. In fact, I think they will shutdown their operations before they get audited to cover up their sh#t, be it fake hack stories or pure insolvency.
Why insolvency? Observe what happened above 6k. No new money coming in, exchange owners saying "this is the bottom" while those same hypocrits were firing employees because the revenue sucked.
Guess what, if the price gets pumped by these exchanges and we range here without ever having tapped the liquidity pool at 3k, the same sh#t will happen again.
There are two choices right now:
- Capitulate to sub 1k to get this bear market over with and yes, I've observed the books for months and everything above 1k bids is a joke in total fiat value;
- Extend the time period by sheer greed to sell their enormous bags to pocket money and therefore ruining their income statements for the future.
If we go to the latter route, then there is no point to have any money on those exchanges due to third party risk and then you should have zero cents on those exchanges. Instead of customers being threated like a king, big accounts get countertraded and stopped out on the cent or pumps with no vol while the books are being moved on the same second from both sides.
Even if exchanges do not manipulate, they do nothing to prevent it and therefore are a thorn in the eyes of regulators who say "see, the free market does not work" and more rhetoric and they're right, why would they when they gain from it at the expense of you, so you get screwed in any case in a different way.
Don't believe the bullsh#t news either, they're selling you a narrative and probably are countertrading you. Use your brain. This is most likely my last idea for years to come, because I'm pretty damn sure most exchanges are closing, either voluntary or by force and they will do everything to squeeze that last dollar out of the market, so I guess we both get the extended bear market for multiple years and that capitulation at much lower prices near $450, because that supply will probably be either confiscated and market dumped or dumped by themselves due to lack of time, since liquidity in crypto is bad.
It will take a lot of time before this market will gain trust from the public again and smart money is probably accumulating for all that time to take it to the next bullcycle.
That being said, as you can see, I've changed my mind on crypto and I'm very bearish now while almost EVERYONE is euphoric now that it's pumping at a trading price of $4.2k as the moment of writing with entire shitcoin market being propped up by those same entities who will dump on the last retail guys who also are goign to buy the retracement/correction. No, the next time it will dump hard and take your liquidity so you can think twice about what you've did.
Buying retracements is not good either as FOMO'ing in at a pump in a severe bear market.
Also, from a global and macro point of view, we're most likely heading in to a recession and crypto has intrinsically zero value, which I've warned 1 month in advance in my idea about the S&P while almost everyone was making long calls here on tradingview and television. Why you still listen to those people. Get awake and be consciouss and see life for what it is. You guys in crypto are extremely naive people and you gonna get burned as a life lesson for it if you don't change in time. Don't get me wrong, I love Bitcoin and I will be a buyer again, but price has nothing to do with it. The bottom was set with tether at $220 and your entire perspective is based on that while you don't even know it and you probably don't know the breakout happened at 2k because of the inflow of it, so I expected 2k MINIMUM.
You guys will call it a black swan event in the future while everything was very predictable beforehand.
Have a wonderful Christmas and a Happy New Year in advance. Take care of your family and yourself first, it's way more important than money, since money is just a means to what you want to achieve. Take care my friends.
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Tether manipulation pumping >= $1.05 while bitfinex still carries the premium. Pure bullshit and practically IMPOSSIBLE, since nobody is obviously arbitrating it other than sheer manipulation.
Possible use cases (any combination):
- Exit tether at best possible price (possible bail out from exchanges using client fiat);
- Inviting people to sell their coin on tether exchanges, which OBVIOUSLY does not happen, otherwise bitcoin was cheaper on tether exchanges.
Even BSV has no fair market price discovery, worth nothing. Cleanout needs to happen, so I cannot be bullish, even when it's manipulated, because I know big money does not come in with this shit.
Enjoy the demise of crypto exchanges, probably nobody has a clean book, it's going down.
Total fraud market.
Notice the higher highs vs lower highs and the premium, yet tether is > $1, on Bitfinex +.03 than Kraken, but tradingview doesn't have it incorporated it yet.
Better stay safe and on the sidelines, you have enough time to buy near the bottom imho, can take years. I wouldn't recommend anything, leverage traders from both sides probably going to be rekt and I'm no financial adviser anyway.
Tether manipulation pumping >= $1.05 while bitfinex still carries the premium. Pure bullshit and practically IMPOSSIBLE, since nobody is obviously arbitrating it other than sheer manipulation.
Possible use cases (any combination):
- Exit tether at best possible price (possible bail out from exchanges using client fiat);
- Inviting people to sell their coin on tether exchanges, which OBVIOUSLY does not happen, otherwise bitcoin was cheaper on tether exchanges.
Even BSV has no fair market price discovery, worth nothing. Cleanout needs to happen, so I cannot be bullish, even when it's manipulated, because I know big money does not come in with this shit.
Enjoy the demise of crypto exchanges, probably nobody has a clean book, it's going down.
Total fraud market.
Notice the higher highs vs lower highs and the premium, yet tether is > $1, on Bitfinex +.03 than Kraken, but tradingview doesn't have it incorporated it yet.
Better stay safe and on the sidelines, you have enough time to buy near the bottom imho, can take years. I wouldn't recommend anything, leverage traders from both sides probably going to be rekt and I'm no financial adviser anyway.