I suggest that there may be huge institutional holders sitting on significant Bitcoin, bought just below the current price; and I doubt they want it to drop below the price they bought at. Any further drop would also start to erode the viability of Bitcoin Vs Alts, which they don't want either...
Instead, they have created a market to buy all they can at this level. I suggest that positive ‘media-hype’ will start when they are ready, not at some all-time low that everyone seems to be waiting for...
It's these same institutional holders that will create that hype; whenever they want to, for as long as they want to, recession or no recession...
At these prices levels, maybe there is more manipulation at work than market force…?
Of course, I may be totally wrong... But what if I'm right? Perhaps the only way from here is up?
I'd appreciate your thoughts...
Instead, they have created a market to buy all they can at this level. I suggest that positive ‘media-hype’ will start when they are ready, not at some all-time low that everyone seems to be waiting for...
It's these same institutional holders that will create that hype; whenever they want to, for as long as they want to, recession or no recession...
At these prices levels, maybe there is more manipulation at work than market force…?
Of course, I may be totally wrong... But what if I'm right? Perhaps the only way from here is up?
I'd appreciate your thoughts...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.