Yesterday was a good day... (btc)

[tradertweets]

Despite all the negativity & talking in the market,

after a couple of bearish days, BTC made a halt and regained some levels yesterday.

However, I was waiting for this opportunity since a week... with two tight stops out before.

My prediction for BTC is definitely more bearish than bullish;
how can it else be with the famous 'McDonalds' pattern (double top),
the news about the german gov. selling / Mt. Gox repaying its customers,
and the apprehension, those could sell their BTC at these prices, asap.

What would you do?

Sell BTC at a guaranteed price of +$50k, or at an unguaranteed price of much lower...?

They already made a huge return;
invested in BTC at a price level of $600, is what I heard... (?)


That would be insane.

 

[The_Krakenite]

Despite the big sell-off, ETFs have had great inflows.

I was hoping for a huge drop by Bitcoin miners, unfortunately they are far too resilient.

 

[tradertweets]

Despite the big sell-off, ETFs have had great inflows.

I was hoping for a huge drop by Bitcoin miners, unfortunately they are far too resilient.

That's right.

Just 5 days ago BTC ETFs saw their highest inflow in a month, despite the sell offs & price fluctuation.
https://bitcoinmagazine.com/business/spot-bitcoin-etfs-saw-largest-inflow-in-a-month


Also, the german government now seems to have stopped its BTC sales,
and even bought some back again ($111 mio.).


So, what we now have are the Mt. Gox uncertainties, and what the owners of those 10 year old Bitcoins will do with it...
(most likely sell)

 

[The_Krakenite]

There is a case-scenario, where BTC will be suppressed much more longer (up to a year or more), due to everyone waiting for everyone else to finish selling first so the market can recover first. LOL

Can't get my crystal ball to work, but whatever comes... it will be interesting. If there is one thing I have to say for Bitcoin, it's never boring. OIL has its drama too of course...

 

[maxinger]

Despite all the negativity & talking in the market,

after a couple of bearish days, BTC made a halt and regained some levels yesterday.


View attachment 343459


However, I was waiting for this opportunity since a week... with two tight stops out before.

My prediction for BTC is definitely more bearish than bullish;
how can it else be with the famous 'McDonalds' pattern (double top),
the news about the german gov. selling / Mt. Gox repaying its customers,
and the apprehension, those could sell their BTC at these prices, asap.

What would you do?

Sell BTC at a guaranteed price of +$50k, or at an unguaranteed price of much lower...?

They already made a huge return;
invested in BTC at a price level of $600, is what I heard... (?)


That would be insane.

Yesterday was a good day... (btc)

--->

Past few days were good days for day trading... (btc)

 

[benjamincohen177]

Keep holding and holding till my greed is satisfied, there will be a pump despite the set backs.

 

[The_Krakenite]

There was some bogus FOMO news... about Germany doing a 180 and switching to buying up BTC.

All that happened was some BTCs that had not been sold on exchanges were returned back. It was their OWN BTC, not anything purchased. They are still selling non-stop.

 

[maxinger]

TECH
The German government owns around $2 billion in bitcoin — and it’s freaking out crypto investors

Joana Cotar, a member of the German Bundestag, which is the country’s parliament, said in a post on X last month that, rather than selling its bitcoin, the government should be holding the token as a “strategic reserve currency.”

Cotar said she has written to German Chancellor Olaf Scholz, Finance Minister Christian Lindner and Saxony Minister President Michael Kretschmer to tell them selling bitcoin “is not only not sensible, but counterproductive.”

She said she’s invited the German officials to a lecture with Samson Mow, a prominent bitcoin influencer, on Oct. 17 at the Paul-Lobe-Haus building in Berlin.

___________________________________________


Who knows, the prominent Bitcoin influencer will tell the German government BTC will go
to 100 000, 1000 000 and beyond.

 

[The_Krakenite]

I was actually hoping Germany would sell this off even quicker. That way, we can use it as a case text-book study on what happens when boomer governments do stupid things.

Woke-broke Canada sold off its gold... was not a very smart thing to do looking at the price today.