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Bitcoin price suddenly surges to 3-year high

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How much did you buy for this round of dipping?

i stopped buying back in 2018.. i basally lost interest.. i still have the 2017 hardware and its currently mining nicehash.. i also still have the small stash i acquired back in 2017/18..

i could buy and sell but i cant be arsed.. i do keep up with whats going on though..

trog
 
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I have a couple limit orders in for Eth at $1400 and BTC at $45k. I missed ETH at $1300 at 3:30am.
 
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Well, the 1.5 Billion BTC purchase is certainly a thing. But TSLA has plenty of other, unrelated issues compared to BTC. So its kind of tangential. Musk has been shilling cryptocoins for the past few weeks though, so maybe TSLA / BTC is more related than anyone feels comfortable about...

I wonder if the current dip is because of: https://ag.ny.gov/press-release/202...rrency-trading-platform-bitfinexs-illegal?ref

I've had friends ask me whether or not to trust Bitfinex as an exchange, so they're definitely getting big.
 
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It's funny because just a few days ago I was talking with someone who was convinced Tether is completely safe and stable and that everything was FUD, there is certainly a level of delusion amongst the crypto group.
 
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It's funny because just a few days ago I was talking with someone who was convinced Tether is completely safe and stable and that everything was FUD, there is certainly a level of delusion amongst the crypto group.
That someone is the ostrich with its head in the sand. Probably not even aware that an investigation is ongoing. And then the general incompetence to understand how much unbacked Tether was pumped into BTC and other coins back in November to drive its initial resurgence. Most people probably skipped the article, because it was too long.
 
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Thanks. That would explain the 10K BTC drop overnight.

the sudden price drops are caused by whales doing organized sell offs nothing else.. the more they do this the less effective it becomes.. long term it dosnt mean much..

it took one hell of a dump to drive the price down this time and more and more people are getting wise to it..

trog
 

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And BTC is still hovering around 50k. Did I miss something, or did BTC not even take much of a hit?
 
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And BTC is still hovering around 50k. Did I miss something, or did BTC not even take much of a hit?

it got up to 58K and was then knocked down to 47K.. its now running between 49 and 50K.. for reasons unknown the whales seem to want to keep it at 50k or so.. they are still dumping enough coin to do this..

trog
 

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it got up to 58K and was then knocked down to 47K.. its now running between 49 and 50K.. for reasons unknown the whales seem to want to keep it at 50k or so.. they are still dumping enough coin to do this..

trog

bitcoin at 43k, ethereum at 1300 and still crashing. hodl boys!!! lol... tesla just lost all their profit they made last year unless bitcoin goes back up past what elon bought it for... lol i bet his boardmembers are not very happy with him right now
 
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bitcoin at 43k, ethereum at 1300 and still crashing. hodl boys!!! lol... tesla just lost all their profit they made last year unless bitcoin goes back up past what elon bought it for... lol i bet his boardmembers are not very happy with him right now

the hodl boys will still have it when it goes back up as i am sure it will.. having said that a stock market sell off (crash) could affect it..

i think elon is still in profit i aint sure but i recon he bought in around 30K..

trog
 

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the hodl boys will still have it when it goes back up as i am sure it will.. having said that a stock market sell off (crash) could affect it..

i think elon is still in profit i aint sure but i recon he bought in around 30K..

trog

looks like he bought in at around 39k, so yeah you are right he is still in clear but not for much longer.

so when people say buy the dip which dip do they mean? the first, second, third? ;)
 
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When you make $1.5 billion purchases, it becomes hard to enter or exit those positions. If TSLA sold all $1.5 billion of BTC today, it'd crash the price below 35k, maybe lower.

When you buy, the asset goes up in response to your buy. And sell for vice versa.

It's a relatively small market with low liquidity. That's why the price moves so much. Just like auction house art pieces
 

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When you make $1.5 billion purchases, it becomes hard to enter or exit those positions. If TSLA sold all $1.5 billion of BTC today, it'd crash the price below 35k, maybe lower.

When you buy, the asset goes up in response to your buy. And sell for vice versa.

It's a relatively small market with low liquidity. That's why the price moves so much. Just like auction house art pieces

one of the whales must have sold to drive it this low this fast, so who was it? not so easy to find out.
 
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one of the whales must have sold to drive it this low this fast, so who was it? not so easy to find out.

GBTC can't sell (at least... by my understanding), but them trading at a severe discount shows that Wall Street had no appetite for BTC at this price range. I'm assuming various BTC ETFs are selling.

The first big sell happened on the day of the Bitfinex settlement with New York. I'd assume that's the event that spooked the cryptocoin market.
 
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from what i can gather the selling is coming from f2pool.. it seem to be a deliberate attempt at driving the price down..

kind of a pump and dump without the pump.. it does its own pumping.. :)

a while back it went down from 40K to 28K.. from there it shot back up to 58K.. if it follows the same pattern this time when it shoots back up it will be to 90K..

but who know for sure.. time will tell..

trog
 

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from what i can gather the selling is coming from f2pool.. it seem to be a deliberate attempt at driving the price down..

kind of a pump and dump without the pump.. it does its own pumping.. :)

a while back it went down from 40K to 28K.. from there it shot back up to 58K.. if it follows the same pattern this time when it shoots back up it will be to 90K..

but who know for sure.. time will tell..

trog

if pump and dump truly is going on, I wonder if yellen and IMF will ever try to target those wallets owners and ban their passports, etc. will be interesting to see how all of this plays out in the coming years.
 
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if pump and dump truly is going on, I wonder if yellen and IMF will ever try to target those wallets owners and ban their passports, etc. will be interesting to see how all of this plays out in the coming years.

f2pool is a chinese mining pool.. a bit beyond the control of yellen and the imf.. its been possible to find out where all the selling is coming from but not the individual sellers..

its not really pump and dump just big players who own enough bitcoin to manipulate the market when it suits them.. good advice is to play the game along with them.. dont be scared into panic selling buy the dip and hdl... i am not buying but then again i am not selling..

but as you say it will be interesting watching how it all plays out..

trog

ps.. the people involved now are not geeks in a basement they are big institutions and maybe even governments..
 
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I mean not jusr crypto, every major investment are going downwards.
 
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I like TPU's new front page ad haha

Screenshot 2021-03-01 134707.png
 
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This crypto bubble market will crash so hard, in 2018 it crashed 95%, this time will be 99%.
 
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