Bitcoin's W5 Down has begun

GlobalMacro90 said:
we have gone around and around on this topic but I still don’t really understand your reasoning.

I am totally with you that Tether is shady and I wish it didn’t exist. If Tether is shown to be a fraud though why would that make the price of all crypto‘s and bitcoin crash?

Stable coins like tether are used to facilitate moving fiat currency into cryptocurrency. people will just use another one. if you already used your fraudulent tether to buy bitcoin then you wouldn’t have to do anything in this scenario, just keep holding the bitcoin.

so I’m just missing the mechanism why tether being a fraud means everything is a house of cards?
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tethers are used by exchanges to create fake demand for crypto, along with each exchange tokens. It really costs nothing to BitFinex to print as many USDT as they want.

any market is balance between buyer and sellers. Remove 70% of “buyers” (stable coins), what do you think will happen with the underlying asset price???
 
Wallace said:
Just made some charts and discovered what I believe is
the beginning of Bitcoin's Major Wave 5 Down.

Lows below $1,500 begin July - August — if not before
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Wallace said:
ooops ! that should be:

Lows below $15,000 begin July - August — if not before.
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I ain't a fan of Elliott Wave, but I do concur that another selling cycle has started (actually, it's started for awhile now, no?). However, down to 15,000 by July/August? Hmm.

I say BTC will go down to 23,000 by next month (ie. May) and then go up to 50,000 by September (if not earlier).
 
schizo said:
I ain't a fan of Elliott Wave, but I do concur that another selling cycle has started (actually, it's started for awhile now, no?). However, down to 15,000 by July/August? Hmm.

I say BTC will go down to 23,000 by next month (ie. May) and then go up to 50,000 by September (if not earlier).
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we can easily see 100k if tether prints another 80 billions.
 
RedDuke said:
a wave here, a wave there. At the end it is Tethers that move the market :D
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Fine, so why aren't you taking advantage of your "insider tip"? That is, why aren't you buying BTC while Tether is artificially pumping it up instead of just complaining nonstop?

As a chartist, you shouldn't care what the fundamental is as long as you can make money on the way up AND on the way down.
 
schizo said:
Fine, so why aren't you taking advantage of your "insider tip"? That is, why aren't you buying BTC while Tether is artificially pumping it up instead of just complaining nonstop?

As a chartist, you shouldn't care what the fundamental is as long as you can make money on the way up AND on the way down.
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exactly why I bought Ether and few shit coins. Since Tether has not been busted so far, why not join the party. Best trade was 40x on LUNC :D

another decent on LABS
 
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