Anybody loading up on BTC on this dip?

[Walker88]

Looking at it from the perspective of a hedge fund trader, this is what I see (perhaps incorrectly)

 

Large holders of btc played one of the oldest trading games: they ramped the thing periodically to bring attention---and retail---into it. The media helped, as did gurus and promoters like cathie woods and Matt Damon. That worked for a few years and so enamored did retail become that they chased it to $68K. In other words, it went up because it went up.

 

With these periodic tumbles over the last year, the process changed slightly. Large holders no longer ramped, but just supported it around the $20K level. Unfortunately, since they were already fully invested, they borrowed money to support the price, and pledged coins as collateral.

 

Then interest rates rose. Servicing their borrowings became difficult. Collateral was sold. A vicious spiral ensued, as the value of collateral fell. The spark was an exchange, not a coin, but the result is the same. Crypto is gaining a very bad name.

 

I suspect when the full story is known, Bankman-Fried was supporting his positions, and perhaps even doing it with supposedly segregated funds. Desperation brings out the worst in people.  Back in July, Three Arrows Capital went belly up because of the same problem---borrowing to support a position, which continued to fall---and that was even before the big rate rise.

 

Hundreds of coins have already gone to zero, which is their true underlying value absent a Greater Fool. Many more will follow. Fads die, or get replaced by a improved version of a fad. btc still has a skewed holding structure, with more than 25% of it held by .1% of its holders. Banks or funds that took a position might well decide to dump and take the loss, which is likely small relative to their overall asset allocation. As the equity market recovers, they can do this with minimal damage to their portfolio.

 

Perhaps the next crash comes when Michael Saylor becomes the next Bankman-Fried.

 

Some erroneously equate btc with blockchain. Blockchain is a useful technology upon which btc depends. One might make an analogy that btc is to blockchain as Pets.com was to the internet. Just because an entity uses a useful technology does not mean the entity has any real value.

 

 

[pomchop]

44 minutes ago, Sparktrader said:

Why post on a topic you have no interest in? Btc isnt a secret. Nobody is forcing you to buy crypto.

 

Fiat is ponzi. Lost 98% in 100 years 555

ok i agree to not post anymore re bitcoin if you agree to not try and hype it....

[Sparktrader]

1 minute ago, pomchop said:

ok i agree to not post anymore re bitcoin if you agree to not try and hype it....

I dont hype it. I prefer iron ore, gold and eth as I said btc is overrated in comments back a few pages.

[DumbFalang]

33 minutes ago, Sparktrader said:

So no it's not manipulated. There is no inner circle.

Wow - just wow.

[DumbFalang]

41 minutes ago, Mac Mickmanus said:

Is it possible that there are a group of people manipulating the price of Bitcoin ?

Your instinct is correct - it is completely controlled and prices are manipulated.

[Sparktrader]

4 minutes ago, DumbFalang said:

Wow - just wow.

Wow indeed. There isnt 5 people controlling it. There are large traders who play games but that happens on forex and stocks.

 

All trading instruments have false moves.

 

 

[Sparktrader]

1 minute ago, DumbFalang said:

Your instinct is correct - it is completely controlled and prices are manipulated.

Tin foil hat stuff. There are millions of traders with large chunks going thru Binance. Hundreds of whales not 5 guys in a special room.

 

Small stocks have far greater manipulation than btc has.

 

Small stocks can largely be controlled by 5 guys though. Pump n dump. 2c to 5c back to 1c in 2 days.

[Lacessit]

Loading up on something tangible, precious metals.

Why anyone would consider loading up on a collection of ephemeral electrons in what appears to be a gigantic Ponzi scheme is beyond my comprehension.

I have never seen gold lose two-thirds of its value in less than a year, bitcoin has.

That's not a dip, it's a slaughterhouse of the gullible.

[DumbFalang]

2 minutes ago, Sparktrader said:

Tin foil hat stuff.

Yeah OK ????

 

Meanwhile.... many of the critical thinkers amongst crypto traders may have been suspiscious about manipulation for a while now and some will have looked into it more than others. I cannot say anything about it on here but I have spent many thousands of hours studying their algorithms, candlestick movements and other manipulation techniques.

 

Rest assured - you are being lied to and manipulated in the crypto space.

[Sparktrader]

1 minute ago, DumbFalang said:

Yeah OK ????

 

Meanwhile.... many of the critical thinkers amongst crypto traders may have been suspiscious about manipulation for a while now and some will have looked into it more than others. I cannot say anything about it on here but I have spent many thousands of hours studying their algorithms, candlestick movements and other manipulation techniques.

 

Rest assured - you are being lied to and manipulated in the crypto space.

Yeah ok. Nice hat.

[DumbFalang]

5 minutes ago, Sparktrader said:

Yeah ok. Nice hat.

Thanks, but there's actually not that much tin in it. It's made mainly from metals sourced from old Iraqi weapons of mass destruction and some bomb fragments from the world trade center.

[Sparktrader]

33 minutes ago, DumbFalang said:

Rest assured - you are being lied to and manipulated in the crypto space.

Who are the liars?

 

[Mac Mickmanus]

50 minutes ago, Sparktrader said:

Tin foil hat stuff. There are millions of traders with large chunks going thru Binance. Hundreds of whales not 5 guys in a special room.

 

Small stocks have far greater manipulation than btc has.

 

Small stocks can largely be controlled by 5 guys though. Pump n dump. 2c to 5c back to 1c in 2 days.

Aren't those traded stocks controlled by regulations and also they are open to scrutiny ?

  You can see who is buying and who is selling and can see whether there's any manipulation 

[DumbFalang]

9 minutes ago, Sparktrader said:

Who are the liars?

 

Sorry - I can't give out that kind of information here. A small number of traders pay me a subscription each month to learn about this kind of thing and change the way they trade.

[Sparktrader]

1 minute ago, Mac Mickmanus said:

Aren't those traded stocks controlled by regulations and also they are open to scrutiny ?

  You can see who is buying and who is selling and can see whether there's any manipulation 

Only after the event. Every fund manager in the world trades on inside information. Insider trading is illegal yet they don't arrest the fund managers? Why?

[Sparktrader]

1 minute ago, DumbFalang said:

Sorry - I can't give out that kind of information here. A small number of traders pay me a subscription each month to learn about this kind of thing and change the way they trade.

So you scam people.

[DumbFalang]

1 minute ago, Sparktrader said:

So you scam people.

The way you think and the things you say are giving me quite a giggle tonight - Thanks ????

[Mac Mickmanus]

1 minute ago, Sparktrader said:

Only after the event. Every fund manager in the world trades on inside information. Insider trading is illegal yet they don't arrest the fund managers? Why?

That is un unsubstituted sweeping allegation and incorrect . 

Do you even know who the fund managers are and what they trade and which inside information they have and where they got that info from ?

   Are is that something you think just probably happens .

Can you name the fund managers who are insider trading ?

[Mac Mickmanus]

5 minutes ago, Sparktrader said:

So you scam people.

Where is the "scam" ?

[placeholder]

2 hours ago, Sparktrader said:

Technology was primitive then. Wages wasnt the issue. Less comforts, less medical care. 

 

A poor person in 2022 has a phone, a car or motorbike and 24 hour access to hospitals with drugs. 7/11s etc.

 

2 hours ago, Sparktrader said:

But you are wrong.

 

https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/

You have completely lost the plot. You claim crypto is a currency and compared the performance of currencies over the past 5 years compared to crypto. Forex values are not relevant as to whether something functions as a currency.

For example, If I'm living in the country that a currency belongs to, say, the USA, and the dollar falls 25 percent in relation to a basket of major world currencies, does that mean that my purchasing power has fallen 25 percent? Obviously not. But if I'm holding say, bitcoins, and they fall 25% against the US dollar, my purchasing power in America actually has fallen 25 percent. That encapsulates the difference between a genuine currency and bitcoin. A currency has the backing of an entire economy, and most economies are not primarily dependent on foreign trade. But the purchasing power of bitcoin is everywhere defined by it's value against currencies.

[Sparktrader]

2 minutes ago, placeholder said:

 

You have completely lost the plot. You claim crypto is a currency and compared the performance of currencies over the past 5 years compared to crypto. Forex values are not relevant as to whether something functions as a currency.

For example, If I'm living in the country that a currency belongs to, say, the USA, and the dollar falls 25 percent in relation to a basket of major world currencies, does that mean that my purchasing power has fallen 25 percent? Obviously not. But if I'm holding say, bitcoins, and they fall 25% against the US dollar, my purchasing power in America actually has fallen 25 percent. That encapsulates the difference between a genuine currency and bitcoin. A currency has the backing of an entire economy, and most economies are not primarily dependent on foreign trade. But the purchasing power of bitcoin is everywhere defined by it's value against currencies.

Post makes no sense. Bye.

[Sparktrader]

9 minutes ago, Mac Mickmanus said:

That is un unsubstituted sweeping allegation and incorrect . 

Do you even know who the fund managers are and what they trade and which inside information they have and where they got that info from ?

   Are is that something you think just probably happens .

Can you name the fund managers who are insider trading ?

So you know nothing about how fund managers make decisions. They all use inside info to adjust portfolios. 

 

100% do. Not personally but via funds managed.

 

They all know the profit results 2 days prior to market release.

 

The sec only goes after individuals not fundies.

[Sparktrader]

14 minutes ago, DumbFalang said:

The way you think and the things you say are giving me quite a giggle tonight - Thanks ????

Me too. Nice trolling.

[Sparktrader]

11 minutes ago, Mac Mickmanus said:

Where is the "scam" ?

Conning people into paying fees for fake info.

[DumbFalang]

13 minutes ago, Mac Mickmanus said:

Where is the "scam" ?

Well apparently, my dedication to this subject and the hard work I did over the past few years has been a complete waste of time as sparky has decided that I am a scammer. Oh well, I will have to think up some new evil master plan and hope I get away with it without sparky catching me.

[placeholder]

9 minutes ago, Sparktrader said:

Post makes no sense. Bye.

Actually claiming crytpo is both a share and  currency, as you do,  makes no sense.

[Mac Mickmanus]

3 minutes ago, Sparktrader said:

Conning people into paying fees for fake info.

That is quite a strong allegation to make .

What info has he given to his customers which is fake info ?

What has he told his clients that is fake info ?

I have a feeling that you are just making all these allegations up and you have no idea what you are talking about 

[placeholder]

9 minutes ago, Sparktrader said:

So you know nothing about how fund managers make decisions. They all use inside info to adjust portfolios. 

 

100% do. Not personally but via funds managed.

 

They all know the profit results 2 days prior to market release.

 

The sec only goes after individuals not fundies.

In other words they are committing crimes en masse? Such nonsense. The SEC monitors stock performances very closely and if unusual trading is detected, it investigates.

[Sparktrader]

1 minute ago, Mac Mickmanus said:

That is quite a strong allegation to make .

What info has he given to his customers which is fake info ?

What has he told his clients that is fake info ?

I have a feeling that you are just making all these allegations up and you have no idea what you are talking about 

Given his name I dont believe any of it. Dumbfarang 555

[Sparktrader]

Just now, placeholder said:

In other words they are committing crimes en masse? Such nonsense.

100% true. They dont police it.