I went long on DJT today (should have done so many weeks ago when I was doing my due diligence). That's what I get for listening to leftist-extremists. Better late than never.
It could be this: https://www.coindesk.com/markets/20...t-goxs-automated-trading-pump-bitcoins-price/
It's true, but once they went bust their shady practices were uncovered. And that was that they had a bot that kept buying with money that did not exist.
i mean come on this is one of the most shadiest industries, could we really expect the people participating in it to be honest? And everyone in Tether has had a shady past
Big rumor just now regarding Trump getting BTC for the strategic reserve. I decided to take just one more piece before I sell the news...
Yup, I'm reading this from many sources, and even a good one on Twitter, Dennis Porter. Sadly, the price isn't reacting too much to be honest. I honestly do think that even though all of these guys (government) initially wanted to eliminate any competition to the USD, if you realize that holding onto a sinking ship is a losing strategy, the next best strategy is to ensure that you have as much control over the next thing that will replace it. Clearly you cannot have any control over Bitcoin, but if the US manages to have a significant proportion of bitcoin with the government, and even more parked at US companies and in US citizen wallets, then it makes it a very smart move to adopt a bitcoin standard. If the US has way less gold than they did in the 70's, then of course going back to the gold standard would be dumb. (And I don't even believe it would happen) So in conclusion, you get as much bitcoin as you can get, and then you say its a strategic asset. Nobody else after this point will be able to accumulate even 50k bitcoins. Hats off to John again for pointing this out. The price of Bitcoin may be low right now, but the ability for anyone to catch up to MSTR as an example is totally gone. How the 40k bitcoins that Germany sold got gobbled up so quickly I also have no idea, since on the one hand, it didn't drop price too much, but the quick accumulation also didn't make price rise too much. Its kind of shocking to be honest when price is supposedly set at the margins. So how wide are these margins? Moving 40k bitcoins is a huge number when you consider how many coins are liquid. Anyway... I really hope that all models for bitcoin adoption are wrong, and that within a few weeks have a massive move up which will also kill the cycles and lead to no more 80% drops. That's my gut feeling, that this cycle is the cycle that breaks all cycles.
Germany's selling of their BTC very likely will go down as another textbook example of 'stupidest decisions by Western nations.' But the government has been taken over by leftist-extremist nut cases over there, hence the return of Orwellian policies and crucification just this week alone. Kristallnacht 2.0
Just threw another thousand into my tiny WealthSimple crypto account. lol. And DCA'd a little more into ETH set to auto-stake. Looks like my Polygon investment didn't quite return as much as I had expected...
I have no clue if this strategic reserve rumor is true ... but if so (again I have no idea) wow what a big fuckin deal that would be. That would signal to all western nations its ok to buy bitcoin with the nation's balance sheet. Now imagine this ... US (or somebody else) buys some ... price goes to 150K. Now it's a race not the get left behind. I thought one day something like this would happen, but I didnt think so quicly. Again no idea if this rumor is true or not. I guess the US government hasn't heard about the tether conspiracy lol.
Come on the previous narrative was the OTC desks are running out of Bitcoins and now you believe US government will be buying bitcoin for nations balance sheet. Fool me once....