He tweeted this at just the right time to give the market support at a key technical level. Bitcoin looked like it was heading back to $8,000. Capitalism doing its thing again.
i'll laugh my ass out when the exchange declare hacked. let the police do the closure with confirmation it's hacked, no follow up with be done.
Yet price still dropped 20% in a few days. Actually, assuming that most new coins are sold pretty fast after being mined, there are 1.8K new coins a day. That is 18 MM new bucks coming in just to support the price, daily. And this is one reason against increasing prices. If price was 10 times of the current one, there would be 180 MM/day dollars needed just to support the price.
Given most of Bitcoin's rally this year has been due to the anticipated acceptance of Libra and that has now reached a stalemate for the foreseeable future, Bitcoin's price should come back to at least $8,000. Hopefully, no one will start tweeting again to try stop the inevitable and create unnecessary losses for traders that know Bitcoin's current value, all things considered.
It doesn't matter whether institutions are buying it or not. I don't see any increase in BTC volume. in fact, volume has been rather low at ~3000 lots per day. peak was around May 2019 where volume was around 30K.
Bitcoin is a manipulated market so the price may not drop to what it should be worth. All the players with large holdings will keep having nibbles to stop the price from dropping. The twins for example are probably quite happy to increase their portfolio by another 100 million just to keep the market propped up. Same goes for Coinbase and the others. There's no doubt investors that have become frustrated with the lack of progress will want a return for their investment and are unwinding their positions but it won't be enough to counter the buying efforts of the ones with a large stake in the crypto space. A bit of a nibble here, a bit of a nibble there combined with the tweets/media releases will be enough to keep this market propped up until the next major news event.
Drugs and cocaine worth $1,000,000,000 was seized by police in USA. These criminals are the big players in Bitcoin ponzi.
how about the long-running fiat Ponzi, paper market, I assume that's just fairy dust, study history, the black market has always anchored the dollar, and now bitcoin!1000 years from now bitcoin will still be around, the dollar will be long gone!