I like to have a realistic view on the market. It's always nice to think of the good side of making money, but nobody wants to think about the downside. And certain news events do affect the market. So whenever I post anything negative I'm not doing it to spread negativity and make people sell (even though that's what I did) haha! But I do it because I am trying to have a realistic view of what the market is capable of. I'm not some moonboy that thinks "Oh, if I just buy 1 dollar in Bitcoin then maybe one day I'll be a millionaire!" No, I try to think about all possible scanairios and think about how other traders are going to react, how the market can be manipulated, how dumb money is going to react, and try to use that as an advantage.
This Tether case I think is going to have a bad reaction. If you look at XRP that token is going nowhere since they had their lawsuit, and they are stuck at 29 cents, and have been now for years. Very sad pathetic coin... If Tether gets sued and Tether printing stops then it's going to be humpty dumpty time.
[Disclosure: Bitcoin is now my biggest pfolio position, diversified more than half of Cel and 90% of Xmr to Eth and other alts]
To me, bitcoin long position is a high probability trade (investment) right now priced at ~$32K
As the title of this post says, bitcoin experienced some bad news (fud's), and pushed btc to below $30K, and yet, btc bounced back to where it is now.
Bitcoin is showing strength, price-wise, even with overbought conditions for the past month.
There's a huge demand right now from institutions and retail. We know this because of Grayscale (GBTC) numbers which are coming from institutions (87% per the CEO), and PayPal & Square for retail
Tether fud and regulatory fud have been around for many years. Bitfinex bank said every USDT is backed by more than enough reserves. We have yet to see what Yellen will do but can it be as bad as Munuchin's last minute proposals on crypto regulations? we shall see
If we let fud influence getting out or not investing in bticoin, then we have fallen for the manipulation. Institutions and big money investors are not being affected, they are buying during the dips, and that should tell us something about their confidence in bitcoin
I'm awaiting for some major catalysts that can push the bitcoin price up very quickly above $40K or even higher than $50K
There are (supposedly) conversations between Elon Musk and MSTR Michael Saylor on getting Elon to put some of Tesla's cash reserves into bitcoin. What's interesting about MSTR is that when they release their earnings possibly in the next few weeks, it will show that MSTR is making more $ on their bitcoin investment than what it has made in their business for the past 20 years
Michael Saylor (MSTR) has a conference on Feb 3-4 with CEO's of companies to provide them with the playbook of how MSTR invested in bitcoin. If a company like AAPL with $300B in cash would just put $1B into bitcoin, that would be huge and may start an avalanche
Given the huge demand of bitcoin on the PayPal and Square platform and how
bitcoin has boosted the PayPal app engagement, which had been enjoyed by Square Cash app for a while since it was the first to allow bitcoin purchase,
doesn't it make sense for Apple Pay, Google Android Pay or even Samsung Pay to add bitcoin to their payment platform?
It seems a no-brainer, especially for Samsung Pay
https://www.coindesk.com/tether-bank-deltec-stablecoin-reserves
