Why is bitcoin rallying? For what reason?

Why is bitcoin rallying? For what reason?

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omnichest.info/lookupadd.aspx?address=3MbYQMMmSkC3AgWkj9FMo5LsPTW1zBTwXL
tether.to/
twitter.com/SFWRedditGifs

>obsolete tech
>infinite unconfirmed transactions
>expensive as fuck
I guess wall street really wants to shill out those futures before letting that pile of shit drop.

omnichest.info/lookupadd.aspx?address=3MbYQMMmSkC3AgWkj9FMo5LsPTW1zBTwXL

There's your answer

another 20 million in margin funding magically created by USDT...bitfinex's sister company

omnichest.info/lookupadd.aspx?address=3MbYQMMmSkC3AgWkj9FMo5LsPTW1zBTwXL

Pump n dump, question is when it will fall and to where.

WHAT THE FUCK ANOTHER TETHERS?
HOW THE FUCK THEY ARE ABLE TO CONTINUOUSLY ISSUE NEW USDT?

oy

170 million in the last 2 1/2 weeks...

Every 1 dollar of profit Bitfinex generates can theoretically be turned into 9 via fractional reserve banking.

I actually don't believe this is happening. Rather it's people buying back in after the BCH FUD. For example I sold during the dip and bought back in at 7400, so there must be others doing the same.

this.

also just curious will anyone else buy back into bch if it reaches sub 500 and starts getting another pump?

$15,000,000 in volume, all within 1 minute! That's a lot of people deciding to go long BTC/BCH in a 1 minute span

can you please explain how this tether/bitfinex thing works? what is a tether? who is accepting them for btc?

It's anticipation of sheldon's zimbabwe jokes tonight

People know that bcash is total bullshit now

so at the point crypto is the dot com bubble right?

what are the chances that the bch backers are pumping up btc.. fattening it up so they suddenly dump it all and pump bch back up to 3k or 4k? btc was 5.6k before the pumps.. its almost 8k now.. 3k worth of dump flowing back into bch would push it up to 4k+ right?

>TCP/IP of finance limited to 21 million shares
>why is it rallying

People buy 1 tether with 1 dollar.

This is BFXs only real way to get a lot of USD to margin funding.

You buy one Bitcoin at $5000. You list it at $6000. You buy your own $6000 coin to create upward movement and volume. You now have a $6000 coin as hype ensues.

In addition...the limiting factor to margin trading would be the lack of money available...so margin rates would be super fucking high...hard to hodl on margin with you pay ridiculous interest rates...bfx can keep this low with a shit ton of margin funding. and thus...people pump more.

The problem here is that USDTethers hasn't released a audit in a while....

The ddos people ran out of money, the mempool is back under control. Also btc is going to be on the big bang theory and on the chicago futures exchange. The pyramid scheme has grown so much that it is about to go mainstream. Remember user, when normies and boomers start asking you about it, you better keep your finger on that sell button cause this bubble has got to pop at some point. Meanwhile tho, enjoy riding those waves.

Sorry, the example I used is called wash trading btw...

and theoretically theyre using those profits to back tether. Thereby creating fake demand in a never ending ponzi scheme...until it actually does end...and the results will be catastrophic.

it is. and everyone wants a lambo. bitcoin is an annoying old shit coin which is Holding us back.

So that giant green dildo isn't the 20m they printed an hour ago? Are you fucked?

0 because bitfinex hates bch

USDT (tether) is paired with BTC on exchanges. During the dip, I sold my BTC for USDT. Every 1 USDT = 1 USD, though not always. For example there was some issue with wire transfers in Taiwan in the past that created FUD around tether and USDT went to like $.85, but has since recovered and reached parity again.

Bitfinex is an exchange that acquired tether, presumably to help liquidity and logistically in trading. Tether allows users of exchanges to trade for a USD analogue without the legal requirements it takes to open a bank account.

tether.to/

They periodically release audits. But if you look closely at the legal speak, they make no guarantees about anything and I think it was the Bitfinex CEO who openly said they had to learn how money launderers did banking and copied that to some degree.

I wouldn't presume one way or another. Or they could have just deposited 20 million from profits, issued the equivalent tether, and purchased a highly appreciating asset. It's too opaque to know what's going on tbqh.

Because fuck you and your alts, that's why

Im not selling before im not a millionare.

>only 999.100$ missing

BTC better gets close to 10million quick.

>I wouldn't presume one way or another
Well you can just look at past issue dates and see the constant green dildos. If it talks like a faggot acts like a faggot then it's a faggot.

>I wouldn't presume one way or another. Or they could have just deposited 20 million from profits, issued the equivalent tether, and purchased a highly appreciating asset. It's too opaque to know what's going on tbqh.

No way. An exchange would accumulate by stealth in order to avoid slippage and get the best possible price.

It's definitely a fraud. Who would buy all at once?

When whales accumulate they don't TRY to pump the price up out of failing bearish patterns like the massive rising wedge we were in.

>20m
>market
>5x margin
>buy
Definitely not a scam

Unlikely ,it takes billions to pump bitcoin like this

bch dump confirmed btc superiority.
anticipation of CME futures.
possible announcement of lightning network implementation.
possible integration of privacy tech.
good press in the normies news.

and tether printing

they are pumping btc to dump on fomo phaggots then they will pump bch and then dump on fomo phaggots and on and on in perpetuity, DO NOT FALL FOR THESE JEWISH TRICKS

i see, a true connoisseur of mememoney

about the same, only 998,000 left for me

There is only $600m worth of tether in a $129b market. That's 0.005%. Tether has nothing to do with this.

good catch, we need more men like you anons on this shitboard
are tethers created out of thin air pretty much? i read some sketchy shit a while back about it

but everything will crash and burn if bitcoin does, surely?

it will kill the market for months/years

all teth issuing correspond with big btc pump

I seriously don't think its tether you guys, its actually people buying bitcoin up because of the correction it had then another rally. Why do you guys keep using tether as an excuse?

does anyone actually use bitfinex? why would anyone trade on it?

that's irrelevant, its about the 20 million buyorders all of a sudden that create a bullish hype. the rest is fomo.

>tether is pumping up my coin so i'm gonna pretend to be a total idiot

Someone should make subtitles of that funny fuck laughing guy at the Talkshow with a tether pump storyline

Why not?

Look at the printing times and the large buy orders that follow them. There is no doubt whatsoever that these are tether pumps

ill take that as a no

I don't understand why nobody stop's them. It's like watching big banks sucking out your money and you keep watching like it's funny.
The ones holding BTC are happy now but in the end won't be fast enough to sell when this shit show collapses.
Will the government safe butfinex cause it became to big to fail? I doubt

People have to since its volume is so high. I don't because I would want a real cash out option.

Because they want BTC to collapse, and it obstinately refuses to do so.

whats wrong with bitfinex? genuine question

unregulated and suspicious tether printing

Because Veeky Forums sold low.

Note that all of the coins that have mooned corresponded to them getting listed on bitfinex
>NEO
>OMG
>IOTA

Still, even if BTC is being manipulated, that doesn't change the fact that it's going to $10k.

Lumps usd and usdt together.

No blockstreamcoin is the bubble

will this crash all coins?

cos btc is fucking scared of IOTA

millions of gooks trade on it

Also will "printing" more crypto cause regular fiat currencies to inflate by increasing the money supply? Are we causing everything to get more expensive?

This is why I'm not buying alts and I keep it all on cuckbase: I gotta stand one stem from the exit. I'm weak hands incarnate, nibba

You better hope you have a fast exit if shit hits the fan.

>bitfinex only
>implying it's not totally getting pumped by tethers

This fucking shitcoin in the hands of gooks is going to nuke everything.

>cos fucktards havent heard of binance

But it takes only millions to convince people they should BUY BUY BUY. That's where the billions come from.

Over 90% of the volume is coming from bitfinex. It's only going up because its price is being manipulated.

Market Cap grew 10 Billion dollar today...
Thats not a single investor or a group of whales...thats organic

This is how a bagholder is born. Goals and expectations will kill you. Me personally, I only play when I know I have the edge. Sounds greedy but if everyone did it, the market would be a lot more rational and speculation pretty much non-existant.

Thats a good strategy and works to kill off the small fishes regulary. Proven to work, can confirm

It's not a wedge, it's a pennant. It's a continuation pattern. A wedge does not exist intra-day, they take weeks to form.

Not if you got in early.
Shitcoins are for latecomer normies being scammed into buying the next bitcoin by chinks, kikes and curryniggers. Normies aren't owed shit.

And bitfinex minted 10 billion usdt
CAN'T YOU SEE A PATTERN FORMING!!1!

BTC whales are pumping it because they know if they allow it to dip BCH will kill it off within a matter of days.

Fucking kek'd.
Almost every bcashie is a turd worlder. Why is that?

Not a single person in the trading sub I lurk looked at that and saw a pennant. That wedge was forming since $5400 on Sunday.

Bitcoin TA seems to move much faster and also not work.

>are tethers created out of thin air pretty much?
Just like real money lmao.

On a larger scale, it is going to touch a resistance zone soon. Because TA is an unpredictable shit, the lines can be drawn several way and the correction will start somewhere in the zone of $8000-$8600.

who here bought the dip at 5600?

sauce

the proportions and implications are not the same, if a scandal was to be about tethers it would hit multiple exchanges and ruin crypto credibility for some time, along with the whole crypto market cap

Meaningless, the only level TA works on is the psychology of the traders, if all of people interpret the information in the same way it will be self fulfilling otherwise it's horse feathers and confirmation bias
Bitcoin isn't like anything else there has ever been

zimbabwe being coup'd or something isn't it? those ppl converting all that $ into BTC.

Well, it'll crash the market and then you'll buy a lot of all the alts and wait for the market to boom again!

Iota is on bitfinance too.

>This thread

This, TA sometimes works because people believe that TA works (and act on it)

all of their $27.54?

Literally every single ancap in the crypto sphere prefers BCH. Not like they are going to back it on principle alone but you can bet your ass they don't like kikecore's subscription service transactions™ one bit.