Baron's Crypto Trading Journal

seems like there is a battle going on.
I'd better stay away.

anyway, BTC is in the bear channel even the blind can see with their blind eyes.
If I failed to short it during the earlier part of the bear channel,
I wouldn't short it right now.
 
Baron said:
The price is dropping because recently there has been more capital leaving bitcoin than going into it. This doesn't mean the sellers are smart in doing that. Last year we saw the same thing happen. The china FUD came out and sellers dumped from a high of $63k all the way down to $30k. Three months later bitcoin was in the mid 60's again at an all-time high.
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More supply than demand. The question I ask is why and I agree that you can't know why investors/traders act like they do.

If demand dries up it's usually because everyone who wants to buy a product has bought. Anyone who wants or has to sell has to drop their price to find a buyer. It's an open auction market. Right now if you want to buy you can take a wait and see attitude, maybe the price will continue to come down. I suppose that eventually the selling will dry up and buyers will have to pay more if they want to own bitcoin. It's just that it's hard to convince people that they can become rich if they just buy and hold bitcoin as the value keeps dropping.

Maybe next week. The last time it took 16 weeks to bottom, we are in week 11 of lower lows.
 
Baron said:
Within the last few years, 1,391 Bitcoin ATM machines have been installed in Europe to facilitate Bitcoin payments and transactions. That's a lot of machines so there's obviously a strong demand for the service they provide.
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There are at this moment 375,900 atm machines for fiat currencies. So you 1,391 machines represent 0.37% of the total. Indeed very impressive. They needed a few years to "flood" all Europe... ROFLMAO.

You have one atm fiat currency for every 10 square mile, and 1 bitcoin atm every 2,825 square miles. In every village you can take money from an atm fiat currencies. Even in most big cities there are no BTC atm's at all.

Fiat currency atm's are available 24/7, btc atm's not as they are installed in shops. And shops close at night.
In Europe there are areas where you have to drive a few hundred miles just to find one BTC atm. If you want to take more than the equivalent of 1,000 EUR, they ask your full identity or you receive nothing.

I just show one in Paris:

  • very limited opening times: 11AM to 7 PM
  • huge spread, so you pay huge costs: 11,000 euro!!!! spread between buy and sell

all this to beat the inflation. LOL.


btc.jpg


Your post is ridiculous. NOBODY will buy or sell at these prices.

Follow the link https://coinatmradar.com/bitcoin-atm-near-me/
Only ONE machine in Paris, next one is already more than 200 km away.
Drive 200 km to use BTC and pay a spread of 11K euro??? You even have to drive to another country (Belgium). ROFLMAO.
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Baron said:
The price is dropping because recently there has been more capital leaving bitcoin than going into it. This doesn't mean the sellers are smart in doing that. Last year we saw the same thing happen. The china FUD came out and sellers dumped from a high of $63k all the way down to $30k. Three months later bitcoin was in the mid 60's again at an all-time high.
More...

And what happened there after? We went back to 33K. In 2 months. So the sellers were very smart.
 
virtusa said:
There are at this moment 375,900 atm machines for fiat currencies. So you 1,391 machines represent 0.37% of the total. Indeed very impressive. They needed a few years to "flood" all Europe... ROFLMAO.

You have one atm fiat currency for every 10 square mile, and 1 bitcoin atm every 2,825 square miles. In every village you can take money from an atm fiat currencies. Even in most big cities there are no BTC atm's at all.

Fiat currency atm's are available 24/7, btc atm's not as they are installed in shops. And shops close at night.
In Europe there are areas where you have to drive a few hundred miles just to find one BTC atm. If you want to take more than the equivalent of 1,000 EUR, they ask your full identity or you receive nothing.

I just show one in Paris:

  • very limited opening times: 11AM to 7 PM
  • huge spread, so you pay huge costs: 11,000 euro!!!! spread between buy and sell

all this to beat the inflation. LOL.


View attachment 276702

Your post is ridiculous. NOBODY will buy or sell at these prices.

Follow the link https://coinatmradar.com/bitcoin-atm-near-me/
Only ONE machine in Paris, next one is already more than 200 km away.
Drive 200 km to use BTC and pay a spread of 11K euro??? You even have to drive to another country (Belgium). ROFLMAO.
View attachment 276705
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I have never said that Bitcoin is more ubiquitous than the major fiat currencies. Your constant comparing of bitcoin's relatively low usage in payments compared to fiats is so ridiculous. The entire Bitcoin network is only a decade old for crying out loud. If you wait around for Bitcoin to be accepted at every grocery store, gas station, and restaurant before you can accept that it's not a scam and is legit, you'll have missed one hell of an opportunity.
 
Baron, out of sheer curiosity and only if you feel comfortable sharing, how much of your net worth have you invested in cryptos, percentage wise? Are you a total believer or are you just hedging your bets by having put 1 or 2 percent of your networth into cryptos?

Baron said:
Paris isn't exactly what I'd call the technology capital of the world so I'm not surprised.
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Clark Bruno said:
... With the intent to buy cheaper and push up prices again, exactly how financial asset manipulators operate. If you don't believe me then the definition of manipulation of assets is clearly defined by the SEC and CFTC and many other regulators on their public websites. Fact is that only the small operators are highly regulated (last time I checked you are not allowed to trade foreign futures options as American citizen, because apparently we are not intelligent enough to risk manage our investments and because such derivatives are too dangerous for us) yet the big whales that do hold seizable amounts of cryptos and financed them through hacking and criminal activities outside the US jurisdiction can do as it pleases them in crypto space to the detriment of everyone else. How I can prove this or you disprove it? We cannot, because it's a completely opaque, unregulated marketplace. For that precise reason all major governments and Central banks are soon coming out with their digital currency equivalents that are centralized, fungible, regulated, and pegged.
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Your analogies are shit.

How does a crypto-whale dump large size without impacting the market?

Fed stablecoins? Who cares. The only utility of stablecoins for the end user is to eliminate transactional-var. Adoption of a legit stablecoin is a positive.
 
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