Bitcoin Enthusiasts

This thread is for all Bitcoin Enthusiasts. To infinity and beyond!

Update on Bitcoin today. The F2 Mining pool dumped a large amount of Bitcoin a few days ago, causing a large correction. As Bitcoin is unregulated, these kinds of moves are still legal, although they constitute market manipulation. There is always a reason behind large moves like this. Ethereum and Bitcoin were also subject to several flash crashes when their markets crashed. Ignore the speculation, follow the actual event! To learn more watch this video:

Today's update:

-F2 pool and other whales still positioning on the spot and futures markets to keep the price of Bitcoin down.

-Bitcoin futures key day coming this week. Will the price go up, stay down, or remain ranged?

-MicroStrategy CEO Michael Saylor purchases over 19,000 Bitcoin, worth just over 1 billion dollars. MicroStrategy is the largest holder of Bitcoin treasuries.

-Tesla has now profited more from Bitcoin than from the sale of their cars, for the entire time Tesla has existed. Tesla sits at #2 for Bitcoin treasuries.

-Square purchases 170 million in Bitcoin, and sitting at #4 for Bitcoin treasuries.

For more info watch below. Happy trading!

Big news yet to be confirmed:

Dubai Private Equity Firm to Invest $4.8 Billion of Bitcoin in Miami

This story has been making its rounds online. Crypto whale Khurram Shroff, chairman of the IBC Group, is reportedly planning this move. Miami's position within the crypto world has been mentioned a lot since last month. It has not been confirmed, but you heard it here.......if this becomes an actuality look for a massive movement in Bitcoin.

https://decrypt.co/59349/dubai-priva...tcoin-in-miami

congratulation for another thread here ,
my views presently about Bitcoin .
https://www.cryptocraft.com/thread/p...9#post13426599
take care , fontu

Why are they doing that?

The F2 mining pool has been selling off to keep the price down so they can buy it back and profit more. Institutional money is involved, it's not just retail or individual traders making this happen. CME Bitcoin futures expire the last Friday of every month. By selling off constantly to keep the price down it allows buy orders to get executed in at a lower price. It also allows anyone with the ability to shake out over leveraged positions, which is what happened within the last week when a large number of long positions were liquidated. Of course, we never get all the information, we have to go on what is available to us. It's possible something else is involved.

-Bitcoin ranging at 49000 at the time of this writing.

-Futures exploration key date tomorrow!

-More updates coming later. Stay tuned Bitcoin junkies

Quick update:

-Bitcoin Futures pressuring whales and other players into selloff

-The massive recent outflow of bitcoin sellers has been exclusively through F2 pool…….no other pools have been identified relating to this activity


Bitcoin Facts

-The price you see for bitcoin is basically the market price you see on the spot exchanges. The number being bought and sold on spot markets is relatively low compared to the overall market cap of Bitcoin. The majority of bitcoin is just held by holders. These people are not really effecting the price. The average person who buys or sells a large amount of bitcoin on the OTC market will not move the market a great deal. OTC trading has an indirect effect on market prices though. This is because the transaction is not being exchanged on the spot market, it is an off the book transaction. There is more involved here, but this is a simple explanation. The recent crashes in bitcoin’s price are due to orders being executed on the spot markets.

-Bitcoin is a store of value that was created to be used as an alternative, digital payment system

-Bitcoin has no direct competitors among other cryptocurrencies. It stands alone.

-Bitcoin's market cap has been hovering around 1 trillion dollars recently.

-Because of Bitcoin's unique position as a global financial resource, because it is unregulated, and due to having no competitor in the digital sphere, it is easily manipulated by large players

-Exchanges do not offer enough liquidity for an excess of large bitcoin orders, so OTC is often used to circumvent this.

-Bitcoin whales can purchase a large amount of Bitcoin through the OTC market without moving the price, then dump the money onto exchanges to move the price up or down. This is what recent price movements of Bitcoin suggest when looking closely at evidence. A large amount of Bitcoin inflows onto an exchange, then sell orders are executed, then flash crashes and Bitcoin crashes.

*Bitcoin Price currently between 45000 and 46000*

See the video below for more:

It's looking more and more like whales are attempting to force Bitcoin into a bear market.

Yep selling pressure still holding.

The selling pressure is incredible. I think this is it for this one. The same thing happened around this time back in 2018.

There's a lot of profits to be taken. I'm thinking things will be boring for awhile... that is until Amazon and Walmart hop aboard.

Definitely a little overextended here based on S2F but still tracking nicely for $100k by EOY.

Possible trend continuation after possible 1HR structure bull flag bullish breakout.

We can see in the second screenshot a triple bottom.

Selling pressure is down after monthly futures ended. Another large selloff Friday, but price has rebounded upwards. Next week will be interesting.

Likely as daily posing up but weekly and monthly not anytime soon, h4 tf ranging down as c down most likely. So very difficult daily go up or able immediate previous top 51986 as wave b and even pass (very unlikely new wabe b) may sell off(fake out) any day too, give 2/3 day try up though. Take care.

Last move was from 43000 to 50300. I think will se a retracement to 50% fib to 46.600.

Watching the market guys and I'm unsure as to the direction right now. Could go up or down. My chart here shows a possible wave 2 upwards on the daily. 4hr chart is moving sideways.

Recent news:

-China to shut down mining activities for one of its provinces to cut down on energy consumption
-MicroStrategy CEO Michael Saylor purchases more bitcoin worth $15 million
-Shark Tank CEO Kevin O'leary turns bullish on Bitcoin, says crypto is here to stay, and invests 3% of his portfolio in Bitcoin
-Weekly bitcoin options for Deribit showing large buy order which expires March 5th. Look for possible bullish movement Friday
-US stimulus package soon to be passed. Imminent bullish movement after passage of 1.9 trillion dollars enters economy
-F2 pool decreases severity of daily selling from last week, instead executing lower sell orders

Stay tuned for more!

Ok, let's see how she play, probable pa in small tf. Care

It's possible BTC could go below 40k. As long as USD continues to show strength, BTC will struggle to make a new high. A strong reversal signal on USD needs to be seen on the Daily. Then the path should be clear.

It should not be assumed the bull market hasn't ended. Bull markets don't last forever. That's not to say the bull run has ended, but that we need to be careful not to assume we can't be wrong. When people think they have the market all figured out is usually when they get wrecked shortly thereafter.