I wonder why Bitcoin pumped from $57K to $68K so violently? I AM SURE IT HAS ABSOLUTELY NOTHING WITH TETHER PRINTING $2BILLION of Tethers. Absolutely no chance at all! This market is such a joke.
cnbc.com Kamala Harris has entered the U.S. presidential election. What that could mean for crypto Jul. 24th, 2024 On Tuesday, a day after Harris launched her campaign, billionaire Mark Cuban said her advisors had begun reaching out to him about crypto policy. The outcome of the U.S. presidential election and its implications for the crypto industry got more uncertain this week after Vice President Kamala Harris entered the race following President Joe Biden’s exit. Harris does not have a public stance on crypto. Who she would appoint to cabinet positions is also unknown. What is clear, though, is that the Democrats now have an opportunity to win back some of the crypto vote they have lost in recent years. “It provides a fresh opportunity to have a new conversation with Democratic leadership … [and] for the Democratic Party to do something positive about the industry — maybe include something in their platform and start to make some of the changes that we missed over the past couple years, that policy changes that the industry needs,” said Kristin Smith, CEO of the Blockchain Association, a policy-focused advocacy group. JMP Securities analyst Devin Ryan added that “there can be a moving of the pendulum back to the middle, and we’re seeing it in real time.” On Tuesday, a day after Harris launched her campaign, billionaire Mark Cuban said her advisors had begun reaching out to him about crypto policy.
Such sudden movement out-of-no-where is very common in futures/stocks/options and it happens every day. News reporters / professional writers might write about it a few hours/days later. But don't expect them to write logically. Anyway, on 25 & 26 Jul 2024, BTC moved massively during the Asian session.
I think the truth is in the middle. The fact is they have UNLIMITED credit to keep buying with money printed out of the sky. Now this would not work had there not been more demand.... But demand only exists because price is going up. There is INFINITE money for them to print and pump this market into the sky. Just look at Tether marketcap supply and compare it with Bitcoin price. Price is going up because they are printing Tethers out of nothing. $50Billion Tethers printed since the bottom. Bitcoin doesn't produce anything and it has no utility. More so it wastes extreme amounts of energy only to solve arbitrary mathematical equations and simultaneously pollute the environment. And what i am saying i did not pull out of my ass but it has been proven in the court. They print Tethers out of nothing and pump the price up. No matter how corrupt and incompetent the government is, at some point they will have to do something. The suit above was a civil suit and there is a private organization tetheredtocorruption.com .... the thing is now there is strong incentive to bring the sham of this industry to light as there are great profits to be made shorting as so many people have bought into the bullshit.
How did Bitcoin ruin your life? Did you lose a lot trading/hodling? A life changing amount? I've been there (not with Bitcoin) and it's a very hard hole to climb out of, psychologically as well as financially.