So here we are approaching the resistance zone and a whale is placing several 70 BTC market buy orders and sweeping the orderbook.
Now, this whale can't be an idiot. He's rich, so we have to assume he knows what he's doing. This shit will go to 100k indeed.
>resistance zone
kek, we are going to 12.8k faggot I keep telling you guys.
>He's rich, so we have to assume he knows what he's doing
No. He is rich and maybe he made a lot of profit in the past months. He doesn't give a fuck about losing money.
This shit is seriously fucked. Bitcoin can't keep going up like this. It has doubled in two weeks without a single correction.
ATH soon
Someone who buys ~1000 BTC in one afternoon when BTC is seen as 'overvalued' by some is probably a long term holder. BTC is changing hands from traders/bots to long-term holders. It's going to become more and more scarce, which will drive the price up parabolically.
It's called painting the tape morons
I have no idea how high this will go before it blows up, but it's going to blow up big.
There is clear market manipulation, just look at how low the volume has been.
someone knows something we don't know yet.
Moon already you fuck. I need my eth to follow up
kek, bears keep opening shorts but are not making any effort in keeping price in check. They're gonna get liquidated so fucking hard, how do they even make money?
This is how it works in every market since the beginning of time. You guys are just eye popping over some shit that none of you understand and (wrongly) assuming "ooooooohhhh the big bad whale boys KNOW SOMETHING aaaaaahhhhhhhh" Fuckin idiots.
yup. that's one of the biggest reasons the price will increase a lot over time. big players are coming in who won't be trading. on top of that, any real price discovery still hasn't happened. btc 50k easily, even 100k isnt a meme (this year)
>what is closing a short position?
brainlet
>He's rich, so we have to assume he knows what he's doing.
Do we though? Any Idiot could have held 70BTC from when they bought them years ago.
>closing a short position
This is happening on GDAX, they don't close short positions there.
This is what could be worrying. Bears could intentionally let the bulls run free then trap them. Volume is fading away, a few large market sells could send the market lower quite easily at this point.
Insider Info, something big coming in Q2
Please explain.
Could be some dumb sand nigger
man wtf is happening
They've been doing it since 9k. I bet they're just going to push it down to 11600 and close their shorts.
>a few large market sells
I've seen market sells greater than 40 BTC. They take the price down maybe $100-200 then they are countered by market buys and the price recovers.
It's risky to market sell right now, even for whales.
>painting the tape
investopedia.com
Thanks user.
My guess is whales trying to cause FOMO hype so they have the liquidity to dump but failing because of how most don't want to buy right now.
Spoofy
>painting the tape
You have no idea if this is what they are doing.
This could be true.
occams razor bro
>how most don't want to buy right now.
Actually this isn't true. A lot of traders on TradingView are recommending people to 'buy if BTC breaks resistance at ~12k'.
>occams razor bro
Which is more likely, millionaires are investing in BTC or some whales run a complex and illegal scheme for painting the tape on GDAX?
I don' know, I was just giving other user an explanation of what it is. someone else had suggested that was what is happening.
I get the feeling the people who got rich off crypto are funneling the money back in just to fuck up shorts
If 4h candle closes above 12.1k I'm putting my last fiat in
latter
Theres proof of this being done in the past lol
Millionaires don't market buy
Whales are waiting for fomo to recede and dump the price. You have to be retarded to think they dont want to take fcking 100% returns. They WILL dump it but stupid fucks are still buying. Its slowing down, they need confirmation and then all those 17k shorts will rain down.
blockchain.info
daily reminder this wallet is holding north of 1 billion dollars of bitcoin right now and accumulated basically all of it after the crash.
>he thinks its illegal
>he thinks a bunch of chinese whales would give a shit, even if it was
I cannot wew lad hard enough
Who cares what these autists say? BTC is trending lower then in November in google trends, there is no real fomo to be going 100% in 10 days.
BTC Shorts vs Longs
datamish.com
can he see into the future?
...
yeah i asked him. mighta been lying tho
You complete retard, if he wanted to make money in the long term he could build up his position.
These chunks of orders are to generate short-term gains, blood in blood out.
it's called wash trading retards.
seriously though, i've been wondering about that. It is probably a bank buying that much. that is a lot of money to spend on a gamble. maybe some high ranking finance people know something we don't
should I put more money into BTC now? Or it will go down immediately when I do so.
Shorts increasing - Longs decreasing = price going slightly upwards.
I have no idea what their plan is but this feels weird.
Heh...
>price climbing
>volume decreasing
>biz buying
Thanks guys, just shorted 100k
that's pretty useful no?
Plan is to pull the rug in near future and crash the price again. They will take massive gains (100%!!!!) they got in last 10 days and they will accumulate some more.
If you are not retard it is. Basically alot of big tradera think price will dump soon. Thing is, its not that shorts are dumb, longs are now going towards sub 20k and they are generally 2x shorts. Wouldnt fomo now under any circumstances.
Bears getting raped.
would you recommend going fiat now?
>100%
i doubt many of them got the 6k price, definitely that 8k - 8.5 channel though, it was consolidating for six days. i made a shitpost a few days ago predicting, that the game was to liquidate the shorts at 10k by pumping to 12k, then take profit and short it back down to 8/8.5k
>he thinks its illegal
But it is illegal in the US. GDAX is in the US and is heavily monitored by the SEC.
Front page of Reuters right now. This BTC bull run feels like a flight to safety. With all the ICO scams and PnD's happening right now it's not surprising. I realize BTC was never supposed to act as a "store of value", but that's it's current default use. The fact that so many own it around the world and that the market cap is higher than other cryptos means that it's a premium asset to hold for investors.
100K eventually, maybe by EOY.
The price of BTC is being suppressed because of a futures expiration on the 23rd.
I would personally. Week ago longs where 3x shorts. Now they are crossing. Normal growth ratio is 2x.
This means alot of guys, long and short, expect pullback. You are not shorting so might as well be on safe side in fiat. Dont let anyone tell you no retrace is normal. Same thing was said back in Dec and we know how that ended.
you do realize BTC is a gateway currency, right? for all we know he's going to buy a shitload of bitbean.
k thanks
>BTC has doubled in the last two weeks
What chart have you been looking at, spastic?
It went from 6k to almost 12k.
Hurry the whales are accumulating link, 1000 EOY
oh this shit? seen that too many times in Binance
I-is this it?