I am bored while watching the paint dry and have to entertain myself somehow? Ponzi schemes always need to latch on to the next victim. At the beginning it was a peoples ponzi and now it managed to latch onto the institutions with the ETFs. Ponzi schemes need continuous inflow of new capital or else they collapse. Until now there has always been a larger victim to latch onto. Now that we have ETFs and pension funds are buying... What's next? There is no larger victim and this is likely the end. It's also not a traditional ponzi scheme, but a clever one. Where it's basically partially reserved and this allows them to operate for a very long time. Tethers own terms of service allow them to not redeem Tethers for USD. Can't come to a bank run if you can't cash out. There are also no guaranteed results, and the market is reflective... So if there is panic, BTC value drops and there is much less money to pay out. Tether is painfully obvious a stablecoin with partial reserves / ponzi scheme. What does that mean for Bitcoin? If Tether collapses i think there would be a BIG dump. Below $10K. What would happen without Tether? It is the cryptos reserve bank that provides endless pumps and price going up. The technology is shit and if it wasn't for price going up no-one would care about Bitcoin. If price stops going up, attention will wane away. It's too hard to predict the long term outcome... Maybe Bitcoin survives... But i think it's most likely that people are going to figure out they've been duped and it will be a bouncy ball. Eg. the market will continue to bounce, but every bonce will be met with sellers and price will be trending down over the long term.
Just saw this video on who is potentially Mr.100 buying all that bitcoin... Turns out its just an exchange buying bitcoin for their clients. Here is the video... Also of interest, during this Equity market dump, Bitcoin is holding up quite well.... @orbit23 ... where do you capitulate? You said you can see a run up to 70k... how about 80k or 90k?
@orbit23 So basically, after reading through your ramblings... we end up with... So I guess that's your 'out' for whatever happens.
If it goes to 80k and stays there for a long time, i capitulate. If it wicks to 80k and dumps to 30k, i am still right. The premise is Tether keeps printing fake dollars and manipulating the price up, but the hammer is comming the rug is going to get pulled one way or another I think this is the last fakeout before the rug pull. I don't know how high it goes. Probably 66-68k and ETH 3k-3.3k? We topped on Trump speech the last time. This time we probably top when trump launches his crypto shitcoin/project or whatever it is. And then we find out what halvening really means. The only thing halvening will be the price. Any time there is an influx of new suckers, unfamiliar with crypto we get those rapid dumps that look like the end of the world, where massive deleveraging occurs, people get liquidated and the FOMO buyers panic sell their bags at a discount. This one has been getting delayed for quite a long time now, but it's coming. I can feel it in my balls.
I would like to ask again... so why are you not taking advantage of it? Where are your positions? There comes a time when people are going to tell you... Put up or shut up!
I can't take advantage of it if it hasn't happened yet. If i could make 100K on this short term move i wish i could... In my mind this is the most obvious top in the history of all markets. Super obvious distribution on the charts across all timeframes, within the context that every celebrity and their $MOTHER launched their own pump and dump shitcoin... Presidential candidate is touting Bitcoin strategic reserves and launching his own DeFI project because banks have for too long "squeezed the little guy". All of this sounds like a bad joke. The trade is LOWER by presidential elections/end of year. $30/$40K, possibly $10K and under. But can't tell in advance it will depend on the circumstances, maybe it only dumps to $40K, maybe it straight up collapses and Tether goes under which would take us below $10K.
So, you don't plan and set your trades ahead, you wait UNTIL the event has already happened (and everyone sees it), and THEN you put on the trade you WISHED you had put on before hand???