Bitcoin Price Thread

I'm out of my trade on this bounce above the swing high and break of offers around $47.5k, for anybody interested.

I added to my short around $46k but we didn't even test the $44k bids so I didn't get chance to take more profits. Still, my early covering @ $50k the day before means my overall R:R on the trade is a healthy 4X.
 

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RedDuke said:
The price is fake and that is why. Any commodity on the face of our planet ,apart from cryptos, is only traded in real money. Its rise and fall has real bottom line consequences for every participant.

You and I need to deposit our hard earned money to buy BTC, where BitFinex just prints tethers out on thin air to do the same. 80% of BTC trading taking place in tethers. You can not build statistically significant model, with positive expectancy, when an asset is traded in fake money.
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If you are going to post on ET every chance you get that you THINK Tethers are getting printed to buy BTC, then I am going to keep asking you to PROVE it.

Which you have already admitted you can't prove it:

https://www.elitetrader.com/et/posts/5331603
 
tsznecki said:
If you are going to post on ET every chance you get that you THINK Tethers are getting printed to buy BTC, then I am going to keep asking you to PROVE it.

Which you have already admitted you can't prove it:

https://www.elitetrader.com/et/posts/5331603
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it is all in the open. Looks at some screen shots posted on this thread alone. You can clearly see that 80% of Bitcoin trading is done in tethers as reported by exchanges.

BitFinex keeps tight lips of what backs tethers and did fire their auditors the only time it hired them, this is another proven fact.

they also retracted the original claim that USDT is backed by USD 1:1 in their coffers, another fact.

the above 3 facts is all one needs to come to a conclusion that it is highly probable that Tethers are backed by nothing. Do I know this with 100 percent certainty, of course not.

but as we know the only certain things in life are death and taxes.
 
johnarb said:
RedDuke, you said you listened to the video. This post of yours is Layer 1 and Layer 2 arguments. Please do not cross to Layer 3
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I am all the way to 5. Until an audit by reputable firm confirms otherwise. Just read what I posted.
 
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