@onehellofarun All it take is an attack on Iran to dump this shit all over again. What we had wasn’t capitulation. It was systematic selling. We need capitulation down to the $50k’s or even $40k’s.
Best thing you could do.
Don’t fomo in on any bounces, unless we have a clear BOS and CHoCH. You will have ample time (likely) to buy.
Don’t buy alts until $BTC has put in a clear bottom. We can stay oversold for months.
Catching momentum is better than catching a knife.
Have CLEAR levels of validation or invalidation, and follow them.
It is a fact that buying low and selling high is the right way to do this. DONT BE STUPID.
DO NOT UNDER ANY CIRCUMSTANCE BUY MEMES. Assume the meme you do buy will go to zero and you will round trip it.
Don’t buy dead Dino coins because you think the “tech is good”. They are dead coins for a reason.
Charts > fundamentals = 99% of the time in this space.
It’s true - VERY few projects will make new highs. Focus on good charts with great fundamentals.
Learn as much as you as you can now. This is the time where knowledge pays dividend.
If you make mistakes this cycle (we all did) learn from them, AND MOVE ON.
It’s just money. Money comes and goes. It doesn’t make or break you.
Stay in a routine. Eat, sleep, spend time doing things you love with people you love.
A stoic mindset and healthy body SO important. You must be grounded to be consistent.
Most importantly, never give up.
Showing up and trying your best will get you over the finish line in due time.
TL;DR How @binance rugged you
Actually this is wrong, if there was a buyer for every seller the price would remain stagnant.
It´s when there´s not a buyer for a seller or vice versa that pricaction happens.
Now since most pairs are illiquid in crypto and especially on @binance , marketmakers provide synthetic buyers and sellers to provide stability. If the pair is illiquid enough, marketmakers end up being 90% of the buyers and sellers.
This enables them to drive prices up or down at their will and any given time.
Where it gets tricky is when marketmakers collaborate with a cex that holds significant supply of underlying token.
This way the CEX can apply sellpressure and marketmakers can withdraw their "buyers" accordingly, leading to full control over the chart.
Now if you let people bet in between and borrow them a multiple of their collateral under condition of limited downside (leverage) where you cancel your loan and keep their collateral (liquidation), without disclaiming how much impact you have on pricemovements, that is called manipulation and scamming.
The concept of the house offering you a loan obviously equates to them having to take the opposite side of your trade, to keep the collateral and not lose their loan.
Not bad practice on liquid pairs with good liquidity distribution amongst multiple independent entities. In the case of binance , they work very closely with @wintermute_t , which usualy for a token team directly, wouldn´t be allowed to even communicate about their marketmaking activites. This doesn´t count for binance though, as they are not the tokens teams directly but rather the listing venue for such. This is when manipulation starts.
@binance offers leverage on any illiquid pair though and requires 8-9% supply from teams for listings (other CEX`s require 1-3% simply to provide a seller side without acquiring the token), that´s when it becomes ethicaly wrong and a scam at mass scale.
Dare to deny it or call it a paid fud campaign you little bitch @cz_binance , i´ll gladly provide proof of @binance requiring said 8-9% for listings even from high liquidity projects.
On 10/10, CZ found himself with too many winners running around with the money they lent from him, so he had to exploit his own oracle 1 day before it had to be updated to a market wide common oracle, through his illiquid scam stablecoin.
The biggest rug in crypto history happened because CZ was not willing to accept that he lent money to people and their bets were winning. Binance users might´ve been made whole, but what he won´t mention is the subnet of companies that binance owns, that offer loans on their behalf, which all of them got liquidated through binances depeg, but not made whole as they are not "directly affiliated".
I hope this helps for even the last incel that doesn´t understand what a scammer this guy is.
Make this post go viral.
Delete your Binance account. #CZBinance is anti crypto.
They are only listing crypto memes which they eventually rug.
They are ignoring real projects like $KAS
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