Member Info for u01gjot

Exactly. The Whales will be loading up in the background while the lemmings panic. So Evergrande was rolled out again to help precipitate the first big drop (lies about a debt payment being missed) a few days back, then we have the BOE making frankly stupid and ill-informed statements about Crypto (to scare the stupid and ill-informed) and then drum roll........more China FUD! Some ****** about state owned enterprises (is that not them all?) not being allowed to deal with Crypto. Yawn.
I thought they'd milked the China cow to death but obviously a few more oz's to squeeze out. The play book has been the same since they decided "Crypto is a scam" doesn't work anymore. The FIAT system is imploding and it's brave person that keeps most of their wealth in a bank. Unfortunately the vast majority of Proles don't know what a bank "bail in" is but they might soon enough. Nor do they probably realise they've been getting 0.1% interest for the last 5yrs which when adjusted for inflation is rapid wealth destruction. Crypto, precious metals and some choice stocks are in my view the place to be.

Until people stop leverage trading BTC will be stuck range bound. Same game being played out time and time again; leverage gets high, the Whales dump and wreck the greedy b*stards. Frankly I'm in favour of this until these twats learn their lesson. Then once everyone is bored / almost given up we'll see the parabolic moves many are anticipating. BTC continues to leave exchanges and Institutions keep steadily accumulating, especially after these leverage dumps / paper hands folding. As always the patient will be rewarded. I also think this is being done to extend the cycle and reduce the magnitude of the explosives moves so that the ultimate correction is relatively mild. Diamond hands desired to form the foundation of a new ecosystem. The speculators can all f*ck off and buy trash like DOGE and SHIB.

I'm also expecting a decent pull back.....around March 2022. Until then we melt faces with a few ups and downs along the way. Just wait until the Alts run. ETH is being burned at an incredible rate, ETH 2.0 comes closer each day and it's the undisputed #2. You're going to see 5x, 10x in some of the smaller Alts. I was here during the 2017 run and it was fearsome. This time we have Institutions (most will need some exposure or look like fools) and retail FOMO hasn't even started yet.

So far it looks like PlanB has a crystal ball! Remember $63k for October was his worst case prediction. We've been hugging the lower end of the stock to flow for months now. We may see a swing towards the upper end of the range. I don't know how high this goes but talk of a major BTC supply squeeze before Xmas would not surprise me. Cash is trash and Institutions know it.

These will be the same geniuses / fortune tellers that said BTC would go sub $20k, likely $10k. Hopefully they put their life savings into this eventuality and are reaping the rewards. Meanwhile back in the real world Institutions continue to accumulate and even the retail is buying in hard. Frankly, crypto is the only show in town and round #2 is just heating up. Can't wait to see where some of these Alts go. I bought SOL and LUNA a few weeks back and they are on an absolute tear.

If the major Retailers start accept BTC (and other Crypto) as a form of direct payment suddenly you are less concerned about capital gains tax and far more likely to HODL in a world of ever devaluing FIAT toilet paper. This is huge and we could see the super cycle many have been predicting. If Amazon start accepting the rest will have no option but to follow, especially those in the Tech sector.

Was BEZ not the 'dancer' with maracas in the Happy Monday's? There's a meme in there somewhere :)

Retail pushed BTC to $20k back in 2017. This space has evolved massively since then with various excellent Altcoin projects and increased acceptance (and demand) for BTC from big players globally. The sooner we get China and the CCP out of the equation the better. They've been a liability for years and moving Mining operations to friendly jurisdictions is very bullish for BTC. Huge amounts of FUD were needed to push BTC to $30k and it continues to this day, even recycling old news. The blatant manipulation is annoying but summer is historically quiet with lots of sideways movement. Sit back, chill out and let the Miners readjust. Come Q3/Q4 we should be looking much stronger. HODL BTFD.

Musk's Handlers have now accumulated sufficient volumes of BTC so now it can run. The guy is a placeman for the control structure and does what he's told. He was sacked by Paypal and go and look into the real history of Tesla and the two guys that founded it. He pleads a humble background but was actually from an extremely wealthy mining background (gems) from South Africa. BTC requires energy to mine, but it's naturally been migrating towards renewable sources because it's cheaper to do so not because Musk has pontificated his 'wisdom' upon us. Either way BTC remains unstoppable because FIAT is finished.

We also had Trump being wheeled out spouting the same FUD as we've seen numerous times before. When he says "scam" I'd love him to actually qualify that statement. But no time for that on the mainstream media. Just say what your told, let it proliferate around the sheeple and see if it has the desired effect. It's interesting that these little nuggets land when we're often at crucial price levels. Ignore and HODL. The tree shaking will end eventually and we'll start seeing price action that reflects the amount of FIAT being created ad nauseum globally.

You could say BTC is being manipulated by the Whales to hit max pain each time, or you could say they are continually flushing out the Speculators and weak hands. If you buy and hold max pain is irrelevant. This is clearly bullish as it implies continual accumulation by the Whales for huge upside. When you've got the likes of Ray Dalio now saying he has "some Bitcoin" (some to him is probably hundreds) and Apple advertising for someone with Cryptocurrency experience all you need to know is HODL!

I can't believe anyone is selling right now. What, in at 119p and out at 145p for "tidy little profit". I was saying the same thing at 60p. This goes higher, much higher. Stop trading, grow some balls and start investing in the longterm FFS instead of this parasitic speculative **** that dominates the markets. Hopefully the last week or so has destroyed the leverage traders.

Well said lunq, well said. All those new to the space and still holding, welcome, initiation complete. Now you'll be more resilient to the next big correction. The macro trend however remains unstoppable. Becoming less reliant on China for mining is immensely bullish and more in tune with what BTC was meant to be about in the first place. Most definitely onwards and upwards.

BTC has declared...........ALL RISE, and remember who the Papa is.

BTC dominance had dropped below 40% for the first time in a very long time. Quick look at CMC and over 24hrs BTC is down 8.5% while the vast majority of the Alts are well into double digits waiting for permission to rise again. Let there be no doubt, BTC is THE Crypto God Market and probably always will be. No other network can truly replicate what BTC is and will continue to be. HODL and pay homage to the King :D

The biggest bloodbath is recent memory and this finishes 4% down. LMFAO. Meanwhile all the paper handed Retail are losing BTC to the Whales. Just look at the companies that bought in this year and yet another headline today, this time wealthy clients of Wells Fargo:
https://decrypt.co/71370/wealthy-clients-wells-fargo-will-soon-be-able-buy-bitcoin?&utm_medium=referral&utm_campaign=feed&utm_source=coinbase
Do people really think these Institutions are selling???? We've only just gotten started FFS!

BTC had been taking a lot of flak recently for being a bit **** compared to many of the Altcoins now on the scene. While I agree there are a lot of great projects out there with massive potential what Asset was everyone watching as the market dumped? Yes, BTC. WHO

The mining supports the network and comes online and offline depending on the price. Also remember most BTC has already been mined (circa 18.5M out of 21M). Not sure if cutting off the Chinese Miners in conjunction with increased demand would indeed send the price soaring? You'd have to think so? The US government has become increasingly more Crypto friendly and I know North American mining has been increasing so this could be a major boon for the US and other Crypto friendly jurisdictions.
The energy thing has been debunked several times in the past and actually there is a strong argument for how BTC mining actually promotes green energy - check out a recent piece from Ark Invest to name but one:
https://decrypt.co/71228/71ark-invest-defends-bitcoins-environmental-impact-following-elon-musk-tweets228?&utm_medium=referral&utm_campaign=feed&utm_source=coinbase

This was from Oct 2018:
"An arbitration body in China has ruled that despite the country’s central bank’s ban on cryptocurrency trading, bitcoin should still be legally protected as a property with economic values."
Yes, Crypto has been banned in China for years. This latest 'reiteration' off the back of weakness seems like a strategic attack. And then in Apr 2020:
"Chinese court rules Ethereum (ETH) is legal “property” in a case of theft published on April 22, 2020, on Chinese media outlet, 8BTC. According to the report, the Shenzhen-based court ruled that Ethereum’s ‘economic value’ as a medium of exchange and mining effectively makes the second largest cryptocurrency legally a property in the largest population in the world."
I think there is a bit of 4D chess going on here. Certain players are probably loading up while the paper hands fold. HODL.

Best idea is to simply ignore Musk Rat. BTC (and the Crypto market) is much bigger than him and Tesla; which weirdly can't seem to fail no matter how much money it loses. The sheeple shrug their shoulders and claim "dunno" when it is clear this is a company SELECTED to take certain technologies forward and they seem to think eccentric weirdo Musk still has the PR gravitas to do that. He's either lost the plot and gone off piste or following orders so that the big players continue to hoover up as much BTC as possible. Either way the latter will be happening and I see this a great buying opportunity. The strategy remains the same; cost dollar average and HODL and ignore the noise from man-child Musk. In a free market unmanipulated economy the Tesla board should be thinking about sacking him given their recent investment in BTC. He also needs to consider the SEC when not long ago he manipulated the market by claiming Tesla was going to go private and they'd secured the funds to do so thus burning lots of shorts. A complete lie. The fact nothing happened tells you all you need to know. His worst fear is irrelevance so that should be the response.