Tether bullrun or exitscam? Some thoughts and bigger pictureWell, you already know how I feel about all of this and how this has come about. If you read my other idea, tether has actually printed another billion fake dollars in the meantime and injected it into the system and actually are buying bitcoin with it... No bull was telling you that about that, right? There are major fundamental problems with the underlying price of crypto, ignore it and one day you might not only see a negative portfolio, but a blank webpage.
To remind you again, many of those smaller exchanges are probably going to exitscam, including a few big ones. Quadriga is already done, but there will be other big ones as well, like Bitfinex, Binance and/or Kraken. Wait long enough to see how price can drop several K's within an hour, it's actually not something new and is not exclusive to crypto.
Liquidating every single crypto for fiat and I'm out of this sick manipulated fraud market. I've actually broke my own rule by shorting too prematurely when I explicitly wrote a few times at 2 April to not short this at all, although it was a hedged short, it's still painful and I'm done with it. Crypto community has been extremely toxic last few months, exactly what I've wrote over a year ago, but exceeded my expectations. I will not have any regret if this pumps much higher or to new ath, not at all, when other markets are way better tradeable instead of being stuck in a huge pnd, with extreme uncertainty 24/7 if it doesn't dump or exchanges are being raided and all money is gone. In fact, I'll get my life back and be free in the weekends, playing with bigger cap where you actually can scalp and be done with it within 30m instead of being scammed with a huge dildo with crypto after weeks of waiting, all done in 15-30 minutes. When you got a stop buy or sell, you get wicked out with a 20-50% wick single order to get filled at the top or bottom, I'm really sick of this bullshit. When there is a flashcrash, exchanges like Bitstamp pretend they care and are investigating it, but when a huge pumpwick happens, it's all silent, the hypocrisy. But you already know why they all carry the hodl-meme, which reinforces the counterparty's argument that crypto is absolute dogshit and has no value (zero). If you wanna hodl and not use it, then be my guest and hodl to 0. If crypto is not going to be used, wtf is the point in hodling it. Another hypocrisy is that hodlers are in it for the tech, that's such a bs, they are all here for the $, but they don't realize or are not honest that it was done mainly by tether and exchanges and that their ultimate goal is $ as well and what do you think will happen in a negative/zerosum game. Next to that, tech gets obsolete fast, anybody who ever worked in tech (hardware or software) knows this full well. If crypto is going to have a future, it needs adoption and be used. My toiletpaper has actually more value than most of shitcoins. Even if we go Mad Max style and even if there was affordable internet and electricity, if anything at all and even if crypto was to be used, prepare to get robbed or killed for a dogecoin.
People laughed at me for saying that exchanges were pumping entire market for years, whether the money existed or not (tether, customer funds or with no money at all (i.e. MtGox). Well, in last court hearing, it's now been proven that exchanges like Bitfinex and others buy bitcoin on their own exchange. Conflict of interest much, trading against clients.
But I don't think those bigger crook exchanges are going to get away with fraud. They most likely will get the max punishment (because they know full well and planned this a long time ago), i.e. under the Patriot act otherwise Rico, so we can expect employees and ceos to get long prison sentences, like what happened with Liberty Reserve, 20 years of prison and total asset forfeiture. Some who read this are probably complicit in this conspiracy and massive fraud having destroyed a lot of people's lives, then I have a question for you: I know you live in the now and not thinking about the future, so when you get stripped naked and put to jail and when you're released and are then financially and socially destroyed for the rest of your life, please come back to me to tell me if this was worth it.
If there was no manipulation since Bitcoinica to MtGox to Bitfinex to Binance, then most people would probably never heard of bitcoin, because price would have never pumped to $20k. On the other hand, there is a big possibility that this entire crypto goes in the history books as the biggest fraud in known human history and flushed down the toilets soon, i.e. to balance one extreme with the opposite.
Needless to say, I'm done with this shitty crypto market. It's become a disease for body, mind and soul since not only are you playing vs the house with unlimited fake money that can put green dildos of 300% in matter of no time, you risk of losing every single cent in a raid or exitscam, which I feel is already happening and majority to come. Next to that, most people in crypto are so extremely toxic and can't think and feel for themselves that I feel stuck in a sea of kindergarten. I've noticed a pattern, especially in crypto, that is that most if not all people will not listen, no matter what you say, they rather listen to strangers even when you fully speak your mind without anything hidden that fully comes out time after time, they rather get burned, disappointed, learning nothing to do it all over again. This I've encountered a long time ago when I was awake when I wanted to help people, it was totally impossible. When I gave up forcing people to help themselves and instead inspire them, that's where the change came, BUT, it's always a very few out of hundreds of people. Well, if you can help at least one soul, that's good enough.
Anywho, I'm pretty sure I'm not the only one thinking and feeling all of this. Better quit crypto, don't come back and see if those exchanges still exist after it's regulated or better yet, if crypto still exist (especially Bitcoin - it would not surprise me to see a BSV flippening and outperforming Bitcoin (Core)). I highly doubt most exchanges you know today still exist (timeframe < 2021, possible extension to 2024). And yeah, I say this after it's pumped almost 300%, better get out before a potential bankrun and don't regret if you do not get the top, because that says more about you than me, especially when you get all emotional about it and that all for greed, amazing.
We are again in a bubble (within a bubble), exchanges pumping their own (empty) books while they washtrade in consolidation areas to create huge volume when there is no new big money coming in. See the on-chain data on the blockchains, oh the irony of scamming people to manipulate their perceptions like that Pomp shill.
I would have been bullish if we completed the pattern to 2-2.2k and seeing a proper bottoming with characteristics of one, but no, let's pump 300% from 3k to 9k, initiated by that bullshit "100m mystery buy order" fakenews, when I knew and wrote about in my previous idea that it was exchanges and people still to this day believe it's fresh money coming in and whales are doing this... Are you kidding me? Whales (lucky early adopters or hedge funds) are the very targets of the orca whales (exchanges and cartel of manipulators), I've written about this a long time ago, which makes absolute sense. The target is not the small money anymore, think about it. Once almost everyone knows about something, it's over. They took the wrong bet by trying to manipulate public sentiment and they horribly failed. People already knew about it and if they weren't in before, they aren't now. Don't buy the retail think of that every joe smoe comes in at 20k, that's complete bullshit. I've talked about this a lot with friends how fomo actually can be extremely rewarding vs trading using TA when you actually know potential targets beforehand. It's absolutely the fastest way to make money and most of the time it's a lot of %. Don't believe everything people say, most of them try to be wise when they are full of shit (not even traders, but analysts...). Anywho, all they did was to ensure their own coming destruction, hope it was worth it. You won't buy a lambo when in jail, nor do you when you get out of it. I've posted this a while back, but it could have been avoided, now it's way too late and it's a one way ticket to hell.
Good luck and stay away from this market. Targets are marked as horizontal lines:
Blue = aggressive buys
Green = Safe buys
Scale in per target block, don't go all in and do not leave any money on the exchanges. When it's time, buy and sent to private wallet.
