DrJLT

BTC possible bottom @ ~ 8.8k or 7k?

BITFINEX:BTCUSD   Bitcoin / Đô la
So the big moneyed interests screwed us, and this crash appears to have no bottom. While it's possible for 2014-2016 to happen again, if we assume the whales still want to make money probably the 180-day EMA or the long-term trend line (8.8k & 7k respectively) should provide ample support for rebound.

On the other hand, if the market keeps crashing & goes under 7k, we'll go slowly to $2k as the bitcoin             bubble completely pops. Many altcoins will go to 0. Exchanges may close. We'll know that the big moneyed interests don't want to make money from bitcoin             --- they probably have other enterprises that run contrary to cryptocurrencies. It'll be years before bitcoin             makes news again.

One thing to look for is tether. I noticed that in the past month every time huge amounts of tether is issued there's a major crash within 12 hours. I don't know what's happening there, but let's call it an interesting coincidence.

Btw             , 8.8k is also the 0.236 level since 5k.

Another cue is CBOE             futures . Today their Jan 18 batch matures. If afterwards there's no bounce, since we already have a confirmed double-top we'll probably stay in bear market for some time.

The biggest problem for the market is the concentration of bitcoin             wealth & the mechanisms of bitcoin             mining. I want to issue a Bitfair coin for which anyone with a valid passport can claim exactly 1 BTF. If trades are all denominated in Bitfair, we'll solve the current manipulation problem.
Bình luận: 1h to go till huge pump (my guess)
Bình luận: as CBOE matures, we have a considerable pump. however, there's also a cme future in a couple of days. we should still be cautious
Is there any reason to see this correction any differently than all the previous ~50% corrections other than for spreading FUD to n00bz?
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DrJLT RexItUp
@RexItUp, One hypothesis involves the futures & big bitcoin holders:

they can't sell their bitcoins to get cash without futures. now they can do this: sell 3.3x futures @20k, manipulate the exchanges so that the contracts become 10k when they matures = 1.6x profit. supposed to manipulate, they sold 2x at average 1.5. now they have 4.6x to buy bitcoin at 10k

increase their holdings by at least 3x.
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DrJLT DrJLT
@DrJLT, I meant at averag 15k
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RexItUp DrJLT
@DrJLT, I'd believe some version of that. I think almost all the price moves are driven by big hodlrs who try to hide their moves around news and other developments so its not so obvious and discouraging to retail investors. At end of day, they wanted prices to go back down so they made it happen.
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" 1h to go till huge pump (my guess) " agreed !
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The Rektning

If Bitcoin stabilizes even at 2k, will alts go up again?
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