Bitcoin Price Thread
- Thread starter Magna
- Start date
Kraken Settles With SEC - Should bitcoin even consider this?
The news of the settlement sent shockwaves through the cryptocurrency market, as investors began to worry about the potential implications of the SEC’s enforcement action. Specifically, investors worried that the SEC’s action could lead to tighter regulations of cryptocurrency exchanges and a potential clampdown on the industry. This fear likely caused investors to start dumping their positions, leading to a significant drop in the price of Bitcoin today below $22 K.
Why this FUD is effecting bitcoin? Bitcoin is proof of work. The fact that PoW is (now) legal and staking through PoS is risky should, if anything, make investors more positive about Bitcoin.
This may be just another bad week for bitcoin and it will soon have price rally. A notable price action may be due for the Bitcoin (BTC) price in the coming days. According to coinpedia, A steady rise in volumes could push the bitcoin price prediction for 2023 to $43,959.19
The news of the settlement sent shockwaves through the cryptocurrency market, as investors began to worry about the potential implications of the SEC’s enforcement action. Specifically, investors worried that the SEC’s action could lead to tighter regulations of cryptocurrency exchanges and a potential clampdown on the industry. This fear likely caused investors to start dumping their positions, leading to a significant drop in the price of Bitcoin today below $22 K.
Why this FUD is effecting bitcoin? Bitcoin is proof of work. The fact that PoW is (now) legal and staking through PoS is risky should, if anything, make investors more positive about Bitcoin.
This may be just another bad week for bitcoin and it will soon have price rally. A notable price action may be due for the Bitcoin (BTC) price in the coming days. According to coinpedia, A steady rise in volumes could push the bitcoin price prediction for 2023 to $43,959.19
I think this is the best thread for this post.
I find that in the entire crypto space, the work of CTO Larrson is the best. He is big on crypto from a tech aspect, but he also doesn't ignore the technical side of trading. Anyway, he made this interesting video on how Bitcoin is following the Wyckoff theories on accumulation and distribution. I have to say, I was super impressed with the analysis. Here is a screen capture from the video where he compares what bitcoin did with how distribution plans out. It's an exact match!
So moving forward, we are now in the accumulation phase. But if this is the case, then this means the low has to break. In the chart below is where we are, and the orange line drawn in would be the future price according to the next chart which is the Wyckoff accumulation. The similarities are incredible.
And of course, here is the video.
I find that in the entire crypto space, the work of CTO Larrson is the best. He is big on crypto from a tech aspect, but he also doesn't ignore the technical side of trading. Anyway, he made this interesting video on how Bitcoin is following the Wyckoff theories on accumulation and distribution. I have to say, I was super impressed with the analysis. Here is a screen capture from the video where he compares what bitcoin did with how distribution plans out. It's an exact match!
So moving forward, we are now in the accumulation phase. But if this is the case, then this means the low has to break. In the chart below is where we are, and the orange line drawn in would be the future price according to the next chart which is the Wyckoff accumulation. The similarities are incredible.
And of course, here is the video.
Bitcoin Soars Past $24K to Reach 2-Week High
Investors liquidated some $60 million of BTC short positions over the past 24 hours, pushing the price higher Wednesday, data shows. Ether also climbed.
By Jocelyn Yang
Feb 16, 2023 at 4:30 a.m.
Updated Feb 16, 2023 at 6:41 a.m.
______________________________________
shit!
There goes my mother-of-all-Tulipmania dream.
Investors liquidated some $60 million of BTC short positions over the past 24 hours, pushing the price higher Wednesday, data shows. Ether also climbed.
By Jocelyn Yang
Updated Feb 16, 2023 at 6:41 a.m.
______________________________________
shit!
There goes my mother-of-all-Tulipmania dream.
Just go with the market.Bitcoin Soars Past $24K to Reach 2-Week High
Investors liquidated some $60 million of BTC short positions over the past 24 hours, pushing the price higher Wednesday, data shows. Ether also climbed.
By Jocelyn Yang
Feb 16, 2023 at 4:30 a.m.
Updated Feb 16, 2023 at 6:41 a.m.
______________________________________
shit!
There goes my mother-of-all-Tulipmania dream.