[DarkWebInsider]

Theres a storm brewing for BTC. I could post some technical anaysis or charts but that stuff if all bullshit. Not going to be under 60k for much longer boys. Rally to 100k starts now.

A few reasons I will enumerate here, but don't want to post any charts because I truly do not think chart analysis is all that useful. There are a few reasons i think btc is due for a big move.

EDIT: Didn't originally include my reasoning, but here you go.

1) Volatility is approaching or has already touched multi-month (and multi-year) lows. Last time this happened was in October 2020, what happened next? BTC 6xed
2) BTC dom at multi year lows. Reminds me of Summer 2017 - expect a bounce here soon.
3) Supply shock. Fewer coins available and willing to be sold at these prices.
4) Increasing adoption (demand).
5) Goes hand in hand with 1, but BTC has consolidated for 2.5 months like this only a few times (2 or 3, I believe) in its history. In retrospect, each consolidation period was a re-accumulation zone and afterward the coin mooned. We are in a similar re-accumulation zone in between 50-60k.
6) Increasingly being seen as a hedge against inflation by institutions amid a macro environment of money printing.
7) 1->6  will lead to a new phase of price discovery lifting us to hopefully 100k.

[A Nobody]

I really think you should post some details if you're so confident instead of speculating. Not sure what makes this different than a random chat where someone says that Eth will be 10k without any explanation.

[Maskin]

I disagree that chart analysis is always bullshit but why do you think a big move is coming? The title looks like you’re asking if a big move is coming and your thread is saying that a big move is coming.
Regardless, I wouldn’t mind you being right so bless you, hope ur right 😄

[DarkWebInsider]

I disagree that chart analysis is always bullshit but why do you think a big move is coming? The title looks like you’re asking if a big move is coming and your thread is saying that a big move is coming.
Regardless, I wouldn’t mind you being right so bless you, hope ur right 😄

I have updated the title and post, thanks.

I really think you should post some details if you're so confident instead of speculating. Not sure what makes this different than a random chat where someone says that Eth will be 10k without any explanation.

Updated

[Swip3r]

:crystalball: is glowing, c u at the citadel.

[Doctor.]

This shit crazyyyy hella green numbers my brain go: wow

[_daniel]

How is technical analysis BS when it follows the psychology of market participants?

Here are a few cases for bear:
1. Last time we were at this price, we didn't have an additional 40Bn printed, especially 19 days out from Tether evidence submission requirements.
2. Enterprise adoption = pump and dump, we saw it with Tesla, and now that MicroStrategy is shitting itself reducing its staff by 25% but increasing debt, I foresee MSTR disposing of some of its BTC in the future.
3. TX fees, since BTC can't fix its TX fee costs, it will never be adopted as a reserve currency
4. Mining - most of the mining occurs in China, Kazak., etc. - unless mining shifts towards Western economies, we will never see a Western economy adopt BTC as a reserve currency / CBDC

[Swip3r]

How is technical analysis BS when it follows the psychology of market participants?

Here are a few cases for bear:
1. Last time we were at this price, we didn't have an additional 40Bn printed, especially 19 days out from Tether evidence submission requirements.
2. Enterprise adoption = pump and dump, we saw it with Tesla, and now that MicroStrategy is shitting itself reducing its staff by 25% but increasing debt, I foresee MSTR disposing of some of its BTC in the future.
3. TX fees, since BTC can't fix its TX fee costs, it will never be adopted as a reserve currency
4. Mining - most of the mining occurs in China, Kazak., etc. - unless mining shifts towards Western economies, we will never see a Western economy adopt BTC as a reserve currency / CBDC

1. Tether fud has always been around but no idea what you're talking about specifically so I won't comment on it

2. Pump and dumps? Elon selling 10% of his BTC holdings is a dump? When he sold it the market didn't move much, adding liquidity (pumping and dumping in your terms) is good for growth, BTC has undeniably gotten larger and continues to grow. I'm not a BTC maxi but to say its still EASILY susceptible to pump and dumps just isn't true.
Yes you can argue that rumors of countries banning or banks coming into investigation etc can dump BTC, but it won't die and it'll most likely recover as we've seen.
(Same thing applies to any companys stock, dumps when rumors are spread)

3. Fees aren't feasible for everyday payments sure, and while I agree it won't act as a reserve CURRENCY for a while if ever, Layer 2 solutions exist and they're not too hard to set up.

4. The world is slowly adopting to mining Bitcoin, yes Asia controls the majority at the moment but it isn't that big of a deal, USA is rapidly trying to progress, there was just a huge deal in texas to invest like $600m into a mining facility.
Asia has been profiting off cheap electricity, but I doubt they'll forever reign far superior in bitcoin mining, technological advancement will spearhead innovation into better miners/efficient miners.

I'm sure more countries (and more progressive countries mostly) will follow suit

[Tommie R]

2. Enterprise adoption = pump and dump, we saw it with Tesla, and now that MicroStrategy is shitting itself reducing its staff by 25% but increasing debt, I foresee MSTR disposing of some of its BTC in the future.

Imagine thinking that Tesla pump & dumped the market by selling 10% of it..

https://twitter.com/elonmusk/status/1386821144037236737

https://finance.yahoo.com/news/microstra...00851.html

There's nothing wrong with all of this.. Do you expect companies to hold ALL their Bitcoin for EVER? I just think you're reaching there with the point you're trying to make.

[A Nobody]

Looks like OP was right about a big move, just went in the opposite direction.

[Maskin]

Looks like OP was right about a big move, just went in the opposite direction.

It's just a slingshot effect. Earthquake and tsunamis soon. 🐱‍👤

[A Nobody]

It's just a slingshot effect. Earthquake and tsunamis soon. 🐱‍👤

I'm not reading into this dip at all, it's just funny timing given OP's thread. 😁

[Maskin]

I'm not reading into this dip at all, it's just funny timing given OP's thread. 😁

Yeah it's funny seeing someone call a big move up and the exact opposite happens lmao

[DarkWebInsider]

Yeah it's funny seeing someone call a big move up and the exact opposite happens lmao

a 5% move is nothing, just watch what happens. 60 days is my prediction.

[_daniel]

1. Tether fud has always been around but no idea what you're talking about specifically so I won't comment on it

2. Pump and dumps? Elon selling 10% of his BTC holdings is a dump? When he sold it the market didn't move much, adding liquidity (pumping and dumping in your terms) is good for growth, BTC has undeniably gotten larger and continues to grow. I'm not a BTC maxi but to say its still EASILY susceptible to pump and dumps just isn't true.
Yes you can argue that rumors of countries banning or banks coming into investigation etc can dump BTC, but it won't die and it'll most likely recover as we've seen.
(Same thing applies to any companys stock, dumps when rumors are spread)

3. Fees aren't feasible for everyday payments sure, and while I agree it won't act as a reserve CURRENCY for a while if ever, Layer 2 solutions exist and they're not too hard to set up.

4. The world is slowly adopting to mining Bitcoin, yes Asia controls the majority at the moment but it isn't that big of a deal, USA is rapidly trying to progress, there was just a huge deal in texas to invest like $600m into a mining facility.
Asia has been profiting off cheap electricity, but I doubt they'll forever reign far superior in bitcoin mining, technological advancement will spearhead innovation into better miners/efficient miners.

I'm sure more countries (and more progressive countries mostly) will follow suit

1. Tether is a classic rehypothecation scheme just like the banks did with subprime mortgages. It's literally the oldest fraud trick in the book. The question is whether the perma-bull "buy & hold" narrative is strong enough to hold through the inevitable upcoming crash. As a result of the NYAG settlement, there's a requirement on Tether to provide documents of its reserves within 90 days. The settlement was in Feb, we are still yet to see these documents today. Remember, Tether is the fastest company in the world to get to a 50Bn market cap!



2. Yes, pump and dump - that's what it is considering the CEO purchased a large amount, made bullish tweets to convince retail followers to buy, and then proceeded to sell in the same quarter. I don't think it's easily susceptible to P&D, but Tesla's announcement pushed the price >40k USD. I have a whole thread on Tesla here: https://hackforums.net/showthread.php?tid=6151199

3. Yes, Layer 2 solutions exist, but how is the adoption? Do you see your regular Joe's sending money to their friends via Lightning or Venmo? BTC as a medium of exchange is worsening as it grows due to fees.

4. Until we see increased competitiveness for mining in Western economies, we won't see BTC as a CBDC / reserve currency just due to a national security risk alone.

Imagine thinking that Tesla pump & dumped the market by selling 10% of it..

https://twitter.com/elonmusk/status/1386821144037236737

https://finance.yahoo.com/news/microstra...00851.html

There's nothing wrong with all of this.. Do you expect companies to hold ALL their Bitcoin for EVER? I just think you're reaching there with the point you're trying to make.

Reaching for what? I'm just sharing an opposing bearish view, and people can make their own decisions after. I don't hold BTC, I trade based off price action and macro views like the ones I shared.

If this was a stock, and the CEO did what Elon did he did, it would be securities fraud 😵, which is why we have securities regulations to stop that.

Coincidentally, since this thread was started, we have seen BTC break short term bull trend.