What a crazy ass day.
First Bitcoin hits $40k, and we get aggressive unit bias dumping met by equally aggressive bot-buying. Then Trump concedes the election to avoid getting kicked out of office for inciting an insurrection. The market dumps hard again... met with strong-handed zero-panic buying.
Can you believe how bad it would have been if he was removed from office forcefully 2 weeks before his expiration date due to being "unfit to lead" under the 25th Amendment? He looked legit worried in that concession speech; like he had stepped on a landmine plunger and was waiting for the bomb-squad to come defuse it.
Trump has a part to play.
He finds himself in command of millions of right wing zealots. The guy is obviously going to start a cult or some shit after this is all over. All he needs to do is keep catering to his diehard fanbase. Trust the plan, fellas.
As far as the market goes...
I hope we can all see what's going on here. Every time the market panic sells that panic is met by strong handed bots gobbling up all liquidity via algorithm. Bots don't panic. Bots don't care what Trump does. These bots have been instructed to buy, and the accounts controlling the bots seem to have infinite funds. Gee, I wonder what's happening here...
Michael Saylor is leading the charge, and if we think moody Musk is the only one he's giving advice, we are kidding ourselves. He's literally running around shilling Bitcoin to every CEO with reserves, talking how to buy Bitcoin with "thousands of Off-chain Transactions".
"Off-chain transactions"
Also known as buying Bitcoin off an exchange like everyone else. Can you believe this guy? Pretty funny. It's like calling the guy at Subway a "Sandwich Artist"
Color distribution technician
In any case, we need to think about this logically and with a cool head. These buyers of Bitcoin at double the all time high certainly seem comfortable, and so should we.
Who are the buyers?
Institutions and corporations. Entities with an endless supply of money compared to even this inflated market cap. They are using bots to programmatically buy up all this panic dumping in the most efficient way possible.
Are these the kind of people who FUD when the price crashes 30-50%? Quite the contrary, they'll be buying more if they have any more funds left to dedicate. At the worst they'll just stop buying and let the market panic like it normally would.
Bottom line, the big entities buying at this level are going to hold for at least a year. Maybe longer. Maybe forever. Institutions know how to safely leverage assets into debt. Why sell a unicorn asset when you can whip this mule and work it to the limit?
Don't be a Donk
Who are the ones selling? Fearful holders. Whales who are looking at double the all time highs, blinded by the fact that the entire point of Bitcoin is to take the power away from the entities buying right now. Blinded by greed and fear.
When you are fighting a literal financial war and your enemies capitulate, do you let them come to the table on equal terms, or do you make them pay everything they've got to get in on the action? Apparently the answer varies from holder to holder.
More info why you see this.
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The Walking Dead has been canceled due to corona this year. But reality more than compensates for that.
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Hi edicted, last night I had an epiphany, understanding how different things are now from the last bull run in terms of the crumbling fiat system and world economy, I find it absurd that i see people who are interested in "taking profit" after bitcoins surge to 40k, rather than being concerned about reserving themselves a space in the global financial revolution.
I recently just wrote about it here, mind taking a look?/
https://leofinance.io/@mistakili/the-misconception-of-bitcoin-in-a-world-driven-by-profit
Thoughts?
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This is when people will either make or mar themselves especially those who don't know whether to keep holding or to sell, but one thing I know is that holding comes with well sentiments and a lot of patience and austerity. It's s really precarious moments and emotions will influence holding and selling. While the big cooperate entities keeps selling.
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Who is still selling?
There's not that many Bitcoins!
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The question now is whether these institutions will ever sell that BTC... The way I see it this is pure wealth transfer and once they'll have their bags full governments and central banks will talk good of BTC. By that time most of the speculators will find themselves with their empty bags seeing BTC really mooning, point at which purchasing one BTC will be quiet exclusive.
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yeah i dont think these people are going to sell... ever...
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they will simply leverage their Bitcoin to get what they want. If your unicorn asset is doubling every year, you can put it up for collateral to buy anything and the collateral value doubles in 12 months.
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Start? He did that long ago.
True fact: among civil engineers, those who specialize in the design of wastewater treatment plants are called, wait for it, sanitation engineers, or, informally, shit engineers.
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Nice post, so in your opinion you don't see the past as an indicator of the future? This time is different and there won't be a major correction? I know nobody knows with certainty but just for the sake of entertainment. I'm hoping for a dive but it might not happen this time and I agree the point is to hodl hard or we're just playing the same old game. Sadly I had no choice recently but to sell a large percentage but I invested nothing but my time here and if I had the means I'd buy in now no problem as I'm here for the revolution.
A real one, not the kind that aims to keep the establishment in power by stealing a podium and face painting.
what i find irrational ITS WHY all the money its on bitcoin, like isnt smart at all taking in account the qauntity of excellent projects with better quailities and tech than bitcoin
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Corporations don't care about other projects yet. That's another reason how we know who is buying... it's corporations loading up on the reserve balance and institutions.
Bitcoin has the liquidity to support the buying going on here... other projects don't have the liquidity or the infrastructure to allow institutional buying
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I actually just picked up some more the other day. Not much, but it was a lot for me at the $33.7k mark. It is going to be harder and harder for me to buy at this point unless something happens with the alt markets. The more I can keep out of the corporate hands the better :)
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Many are missing the wealth transfer that is occurring. Most will realize when it is too late.
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I agree.Hodling is the key now more than ever I think.
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Man my job title is so basic there is no way I can find another job on linkedin haha
Fancy titles competition is too hard there.
But yes HODLOR here too, and add some more during "dips" if I can get faster than bots. Can I ? :D
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I agree with you.
This tome BTC will find a strong support in a high price. And we will see a nice growing of many tokens. This is just the beggining.
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More big big players buy bitcoin. It is because fiat printing seem unstoppable so the they are looking for value asset that they underestimated few years ago.
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New all time highs can always result in something unexpected since its new. How it reacted initially seem like profit taking. We will find out if there are further weakness in prices soon enough.
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HODL
HODL
HODL
Until MOOONNN
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