blackbeans
Elite Member
- Nov 29, 2008
- 9,247
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If BTC is able to break through $32,000 and stay, the crypto market may be turning.
If not, it's a dead cat bounce and price will stay within 28K to 32K window
Bitcoin Dead Cat Bounce or Breakthrough?
- Thread starter blackbeans
- Start date
If BTC is able to break through $32,000 and stay, the crypto market may be turning.
If not, it's a dead cat bounce and price will stay within 28K to 32K window
Chris Newman
BANNED
- Oct 13, 2018
- 6,868
- 6,032
Why do 90% of crypto traders lose money ? Because they follow technical analysis.
Technical analysis plays absolutely no role in the price of Bitcoin & other cryptocurrencies. Fundamentals do slightly affect prices only on a temporary momentarily basis.
Bitcoin price is totally in the hands of the big whales. The exchanges and the big whales work hand-in-hand.
When leveraged trades get liquidated, the exchanges make huge profits and these profits are shared (by the exchanges) with the big whales.
OK, but how do they do it ? Tether prints billions of USDT (for free, out of thin air) regularly and sells all this USDT (regularly) to the exchanges & big whales at high discounts. So, then the exchanges and the big whales utilize this very cheaply acquired USDT, on a regular basis to manipulate Bitcoin price, in order to continiously liquidate both long trades and short trades. This is why over 90% of crypto traders always lose money.
And other cryptocurrency prices move along with Bitcoin price.
Those who understand what I've explained, are the 10% making money trading cryptocurrencies : the remaining 90% make losses.
Bitcoin price will go to below US$12,000 this year.
Technical analysis plays absolutely no role in the price of Bitcoin & other cryptocurrencies. Fundamentals do slightly affect prices only on a temporary momentarily basis.
Bitcoin price is totally in the hands of the big whales. The exchanges and the big whales work hand-in-hand.
When leveraged trades get liquidated, the exchanges make huge profits and these profits are shared (by the exchanges) with the big whales.
OK, but how do they do it ? Tether prints billions of USDT (for free, out of thin air) regularly and sells all this USDT (regularly) to the exchanges & big whales at high discounts. So, then the exchanges and the big whales utilize this very cheaply acquired USDT, on a regular basis to manipulate Bitcoin price, in order to continiously liquidate both long trades and short trades. This is why over 90% of crypto traders always lose money.
And other cryptocurrency prices move along with Bitcoin price.
Those who understand what I've explained, are the 10% making money trading cryptocurrencies : the remaining 90% make losses.
Bitcoin price will go to below US$12,000 this year.
blackbeans
Elite Member
- Nov 29, 2008
- 9,247
- 4,808
Isn't the US congress about to tightly regulate USDT and other stablecoins?
Tighter KYC and tax regulations?
TheRedRabbit
Junior Member
- May 9, 2021
- 107
- 58
Seems like there are still chances of a downside.
LuckyGamble
Banned - Multiple Rules Violations
- Apr 14, 2022
- 1,047
- 1,028
Just another bull trap lol.
If BTC is able to break through $32,000 and stay, the crypto market may be turning.
If not, it's a dead cat bounce and price will stay within 28K to 32K window
higesan
Registered Member
- Oct 29, 2011
- 86
- 38
Thanks for the enlightenment.. We need knowledge to deal with greed
vpgame0919
Newbie
- Apr 26, 2022
- 3
- 1
hoping btc to go 21k
blackbeans
Elite Member
- Nov 29, 2008
- 9,247
- 4,808
Looks like it. Lots of sellers at the 32K price point.
zetolo7
Registered Member
- Apr 5, 2021
- 95
- 76
According to that valuable explanation what is the safe strategy?
Very true, most of them just move along with BTC price
LuckyGamble
Banned - Multiple Rules Violations
- Apr 14, 2022
- 1,047
- 1,028
Yup. I took profit at $31.3k as well.
Snap and it's down 5% over night.
blackbeans
Elite Member
- Nov 29, 2008
- 9,247
- 4,808
Whales are going to keep setting up bull traps until they've exited then we'll see the bottom slowly appearing
Hawkeye Digital
Rules Violation
- Feb 23, 2022
- 6,316
- 1,708
Btc wont go to 25 or 26 as it would only last to 28 and 29s and then if it breaks , it would be an massive bull run accordingly to me !
This makes sense mate.
Chris Newman
BANNED
- Oct 13, 2018
- 6,868
- 6,032
Whales exiting ? Impossible. Who would give up the opportunity of making millions (sometimes billions) of US dollars per day in an easy way ?
Exchanges make huge money when trades are liquidated (longs and shorts) and they do that by utilizing the services of the whales. The exchanges and whales are able to do this with their cheaply acquired USDT on a regular basis. Tether regularly prints billions trillions of USDT (free out of thin air) and sells it at high high high discounts to the exchanges and the whales, so the exchanges and whales use this very cheaply acquired USDT to liquidate long and short trades on a regular basis. There is no way that the whales will exit (no matter how much regulations happen). No one believes what I've mentioned. People go behind technical analysis, etc and this is why 90% of crypto traders lose money. Anyways, each one to their own.
Exchanges make huge money when trades are liquidated (longs and shorts) and they do that by utilizing the services of the whales. The exchanges and whales are able to do this with their cheaply acquired USDT on a regular basis. Tether regularly prints billions trillions of USDT (free out of thin air) and sells it at high high high discounts to the exchanges and the whales, so the exchanges and whales use this very cheaply acquired USDT to liquidate long and short trades on a regular basis. There is no way that the whales will exit (no matter how much regulations happen). No one believes what I've mentioned. People go behind technical analysis, etc and this is why 90% of crypto traders lose money. Anyways, each one to their own.
- Nov 3, 2017
- 2,796
- 2,516
Can you exchange a Tether USDT for a dollar? If yes, then that's the price of USDT. You may cry bloody murder all day long, but as long as the market believe the USDT cost a dollar, that's the price and you are talking nonsense. People are NOT losing money because they do technical analysis, people are losing money because they try to trade highly volatile assets. You think that in Forex more people win money? In fact is 95% that lose money. Why? Because Tether is printing USD (free out of thin air)"? No? Its for the very same reason they lose money in crypto - because they are greedy, cowards, and have no fucking clue what they are getting involved in. I do not mind.
Unreliable Witness
Senior Member
- Apr 21, 2016
- 837
- 627
You can exchange 1 USDT for $1. But can you exchange much larger volumes at par?
Tether claims to have carried out a stress test in case of redemptions of $10 billion (12% of its reserves), but we don't know whether 12% is enough if there was a panic sell. You would assume that a panic would mean more than 12% of holders of Tether would cash out.
Tether say that their stress test is equal to the largest run on any commercial bank, but this isn't a particularly fair comparison. Unlike commercial banks, which work on a fractional reserve basis, Tether claims that its assets equal its liabilities. If so, it should be able to withstand much higher levels of redemptions.
We don't know what assets exactly Tether holds, so we don't know how liquid it is.
To be able to use those millions or billions, you need to be able to cash them out. Isn't the point of investing to be able to enjoy the profits? Until you cash out its all paper profit.
ADA Lovelace
Regular Member
- Jan 24, 2021
- 466
- 381
people say that bitcoin is a transnational store of value, well in that case it should now be at 100K with the war and inflation. But no, Bitcoin is still moving according to the market, and the big whales will continue to buy real estate or other things to escape this inflation. It's strange isn't it? Bitcoin a store of value but nevertheless moves according to the market. What does it mean? That absolutely nobody knows the real price in the future because it depends on a third party. The markets and the big players. So STOP LISTENING TO IDIOTS PREDICTING PRICES
blackbeans
Elite Member
- Nov 29, 2008
- 9,247
- 4,808
Bull trap on the upswing today. 32+ is the key threshold