Bitcoin Price Thread
- Thread starter Magna
- Start date
And then what? You're absolutely right that the price has dropped from all the selling, but it seems like lately, its not really dropping, and they are down to what, 1/4 of what they had? So what happens once Germany has no more coins to sell? If your entire thesis is that price is dropping because Germany is selling, what happens when Germany has nothing to sell?
You know, this isn't like the Fed of the EU Central Bank that has unlimited fire power to print money and purchase bonds if they don't like the prices they are selling at.
I would actually be worried if I was you because it seems like they only have 1/4 of the firepower left, and price has stopped dropping. Since there are no more re-enforcements coming, I think the Bitcoin haters better start coming up with a retreat strategy. As John pointed out, Mt. Gox and Germany can only sell their coins once. Who else is going to have 40k or 50k coins left to sell at any future date? Germany did us a favor by dumping now, allowing people to buy in the 50's and 60's.
I'm very interested in your view, but it's hard to take it seriously without any evidence or even an argument of any kind. Who are the criminals running this ponzi scheme?
BTC seems beyond the reach of a governing influence to control it. It trades on numerous exchanges and as derivatives with thick market depth. I might believe self-serving market makers could manipulate it, as you say, if it were a thinly traded market on a single exchange with restrictive trading hours. But this isn't dry whey futures, or some such thin market where one big push from a seller can start a trend. There are a lot of BTC believers and shorts bent on manipulating prices rather than profiting from developing trends are setting themselves up for disappointment as the other side takes their order with a thank you very much and waits for price to unfold.
Market doing what markets always does, greed and fear, it goes up and down.
Capitulation after being thrashed out is a great time to buy.
Nothing to see here.
You have this amazing crystal ball and in-depth insight, and yet, this is all you have to say to capitalize off it?
You'd make a great candidate for Canada's woke-broke prime-minister.
Agree.In hindsight,this will be a gift.
orbit usually works 'tulips' into his posts too.
Just so you know who youre dealing with.
Fixed it for you.
CryptoQuant analysts reported that Bitcoin (BTC) whales and long-term holders increased their balances at a 6.3% monthly rate, indicating more demand for the cryptocurrency despite a market decline. BTC is more than 21% below its peak price of $73,373, seen in March, and smart money is capitalizing on lower prices.
BTC accumulation spree | Source: CryptoQuant
According to the blockchain analytics firm, it’s the fastest accumulation spree since April 2023, when Bitcoin traded around $30,000. The report released on Wednesday also highlighted whale activity bolstering BTC’s price in the face of sell pressure introduced in the last two weeks.
BTC accumulation spree | Source: CryptoQuant
According to the blockchain analytics firm, it’s the fastest accumulation spree since April 2023, when Bitcoin traded around $30,000. The report released on Wednesday also highlighted whale activity bolstering BTC’s price in the face of sell pressure introduced in the last two weeks.