QUOTE(lurkingaround @ Mar 2 2021 @ 12:30 PM)
My "diagnosis" is that the BIG Shark market manipulators like Hedge Funds, who had bought hundreds of Bitcoins at <US$10k in Sep 2020 or earlier, are trying to dump the last of their holdings at prices of >US$48k. How high the price they can dump depends on how many gullible Retail investors are willing to buy BTC at those high prices. Similarly for the Pump-and-Dump of GME/Gamestop shares.
....... As in the Dec 2017 Pump or Bull Run or Wave, the highest price they could dump their hundreds of <US$1k-BTC, bought in Jan 2017 or earlier, was US$19.6k. Thereafter, BTC price dropped down to <US$10k at end Jan 2018.
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I doubt it.
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....... As in the Dec 2017 Pump or Bull Run or Wave, the highest price they could dump their hundreds of <US$1k-BTC, bought in Jan 2017 or earlier, was US$19.6k. Thereafter, BTC price dropped down to <US$10k at end Jan 2018.
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I doubt it.
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QUOTE(whyamiblack @ Mar 2 2021, 12:36 PM)
.Now, 1 BTC = US$48,377
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Remember, the last Bitcoin price Pump or Bull Run or Wave from US$3k to US$19k was in Dec 2017, it then bottomed to about US$10k about 1 month later, ie at end Jan 2018, ....
... 1 BTC was <US$10k in Sep 2020 or earlier, ... and was <US$20k in Nov 2020 or earlier = only a few months ago.
If BTC price bottoms to around US$30k in the next few weeks, the next Pump or Bull Run or Wave, ... to be set by the BIG Shark market manipulators like Hedge Funds, ... should be after 2 years or so. If so, to ride the next Wave and make profits of >100%, you will have to buy BTC at the price of <US$30k and be able to HODL for at least 2 years. IOW, the next Pump or Wave or Bull Run will likely shoot up to >US$80k per BTC. But .......
OTOH, the BIG Sharks may set a Big Market Crash later this year or next year or so, eg BTC price and the Dow Jones Index crash by >50%, so that they can have another round of buy-low-and-sell-high or pump-and-dump that may again last for 10 to 25 years, mainly depending on how many small-fry suckers or gullible Retail investors there are in the market.
....... Note that the last DJI Crash was in 2008, before Bitcoin was invented in 2009 and launched on the market in 2011 - in the first year/2011, 1 BTC = <US$10 mostly.
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Mar 2 2021, 04:29 PM

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