$BTC wicked below the green line on the Covid impact. This time it'll close below unless it goes from low 60s to low 70s in the next hour. Last time it broke below was 2014 and didn't get back above until 2017. Wonder how long it'll take this time
Yeah this. Space X, Anthropic, Open AI, etc. A $BTC liquidity vacuum - funny thing is in recent times, IPOs open BIG and go straight into sell off mode! 😂.
So a mass of entities is selling a highly scarce, exhaustively over-sold pillar of strength that solves the problem of a top reprehensible metric known as inflation, to dive in head first as exit liquidity for IPO smart money.
Maybe this will be an AI bubble pop back into crypto. And we might get one of the largest collective Homer Simpson exclamations of all time across the financial sector from this sell bitcoin for IPOs blunder move after the post IPO buy dump. DOH!!
Of course if everyone does forecast an IPO dump it might turn into an IPO pump. Screw front running - stay put and win $ABT $GFI still make sense to me while they have the biggest sales. Not only are their supplies extremely limited, but over 90% of their supply is already locked away in private wallets. Which means the smallest of new allocations have big impacts
Bitcoin isn't crashing below $60k because Saylor sold 32 BTC.
It's crashing because $19 trillion of new AI market cap got created in 12 months... 13x the size of Bitcoin.
The most liquid risk asset on earth is being drained to fund the biggest IPO cycle since 2000.
Here's a tune needed for a release to deal with the crypto market - be sure to play it loud, especially if you're fixed behind the wheel - it helps with built up tension 😁.
https://t.co/H1jjsGcqvQ
🤨 Those $BTC LONGS been going up straight since mid May. I'm keeping an eye out on this. When this fades, more enjoyable tickers rise. But its gotta fade a decent amount to move others a decent amount. Right now the weekly RSI is about 89. But it's been over 70 since November, so it's gotta be getting tired
So we're looking at bullish divergence on $ABT for volume on the 4-hour. This volume indicator uses fibonacci numbers to build smooth moving averages. Not yet in positive territory but showing strength. Money flow increase in line with the altcoin dominance pivot breaking through its long standing downward resistance line. Better keep a watch - the market is in new territory whether you believe it or not. That's a technical fact that doesn't give a damn about your opinion
If $BTC could go to zero, then someone could buy them all for nothing. What would be the price then? One owner that has all tokens. None left on the exchange. You could probably find at least one other person that really wanted to buy one. How would they get it? Email the wallet address, "Hey, can I buy one of your bitcoin?" Question is, how much would this one person be willing to buy 1 bitcoin from someone that has them all?" I think if you can answer that, You've got yourself a deal partner!!"
If $BTC could go to zero, then someone could buy them all for nothing. What would be the price then? One owner that has all tokens. None left on the exchange. You could probably find at least one other person that really wanted to buy one. How would they get it? Email the wallet address, "Hey, can I buy one of your bitcoin?" Question is, how much would this one person be willing to buy 1 bitcoin from someone that has them all?" I think if you can answer that, You've got yourself a deal partner!!"
Crypto is not a get quick rich scheme.
The faster you acknowledge this the better.
Change from a gambling mindset to an investing mindset.
Most don’t have the patient to sit at a coin for months or even years to see the result they always dreamed of.
The $BTC hour chart RSI has these little green Bull boxes at the bottom. None of the other tickers have em except GFI and I can't figure out what they mean
Well damn dude I never felt trading on leverage was any good. Don't know why anyone would want to. Yes you could rack up fast but leverage is way too slot machine but even worse. It's more like a donation since everyone can see that crap like an open book. It's just a liquidation invitation.
I'll say what almost nobody in this space will say right now: I'm bullish. I literally don't care.
At the highest fear we've seen, with every chart looking absolutely horrendous, I'm bullish on crypto.
Oh well!
Call me the bad guy for it. I'm fine being that guy.
Almost no one is discussing these charts, and I will happily be the one to show them to you. Even if I'm wrong, I'm glad to be able to offer this data for consideration.
Start with copper/gold. Overlay it on PMI going back to 2012 and the correlation is almost uncomfortable.
Every PMI expansion, copper/gold turns up with it, and every one of those has lined up with a crypto bull market.
Right now copper/gold just reclaimed its 20-month moving average. It's turning on the macro.
Then the one that actually really matters. Take the altcoin market cap excluding the top 10. A small sliver of the entire market...
Lay it over PMI and it tracks cleanly, bear, bull, bear, bull.
PMI ticked up again two days ago, and that chart is expanding right now, in real time, in lockstep with it.
Altcoins are literally printing on the chart alongside PMI while everyone calls the space dead.
I'm not getting on the fear train while so many of these indicators are lining up the way they are.
I've built my businesses in this space. I'll ride it to zero if that's how it goes. I just don't think it goes that way.
Intro 00:00
Ethereum has been here 1:50
Cardano has been here 4:05
Copper / Gold 6:00
Watch this altcoin chart now 9:40
Liquidity rotation 12:20
How many peeps out there with a thought process similar to this: Ok... if it drops below 60k then I'm selling. But once it gets below 50k, then I'm really selling 😂.
This $BTC.D is extremely funny and fun to watch. The toothpaste has left the tube. CT has been full of dirty mouths but fresh breath is around the corner
Hey it's not moving up it must be a scam. Well I thought the wealthy would just hand over some of their money in the form of crypto and we could just sell it.
They can't figure out which way to screw $BTC to screw the $OTHERS. How about neither - either way $BTC goes let's win 💪 on banger utility blockchain companies. The real winners are the ones who are building and have built Advanced Blockchain Technology 3.0 $ABT.
You see there is HYPE, and there is PRODUCT. Marketing gets you noticed. But marketing doesn't build systems of operation. RWA's. Decentralized Tech with Artificial Intelligence. Build with $ABT. Private credit on chain with $GFI . These blockchain companies do more than just store value. $REACT Reactive smart contracts pave the way into the future.
Time to send $BTC.D lower