$175 billion just printed and the Bitcoin price goes down! - page 2.

Serco

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Quote from: Vishnu.Reang on October 28, 2019, 06:34:22 AM

Quote from: kapalmabur on October 27, 2019, 09:31:19 AM

right now BAAKT shows their volume is increasing, this is good for bitcoin, but not good for altcoin,
I only have a little bitcoin, and a lot of altcoin, if bitcoin still shows signs of bullish then altcoin will go down again and again

I checked the Bakkt volumes and even now they are far lower than what was expected. There was a lot of hype surrounding Bakkt before its launch and the cold reception it got in the market definitely had a lot of impact on the Bitcoin prices. That said, I am not bothering much about it now. So far this week, we have seen the prices increasing from $7,400 to $9,600, which showed that there are plenty of other triggers which can have a positive impact on the exchange rates.

when BAKKT trade start its not suitable with hope many traders.before it launched , cryptocurrency community so optimism with bitcoin price in future.but unfortunately imagination and fact very different.trading volume growth slowly meanwhile they were institutional investor.maybe it need more time to attract more investors start their investment here.

Vishnu.Reang

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Quote from: kapalmabur on October 27, 2019, 09:31:19 AM

right now BAAKT shows their volume is increasing, this is good for bitcoin, but not good for altcoin,
I only have a little bitcoin, and a lot of altcoin, if bitcoin still shows signs of bullish then altcoin will go down again and again

I checked the Bakkt volumes and even now they are far lower than what was expected. There was a lot of hype surrounding Bakkt before its launch and the cold reception it got in the market definitely had a lot of impact on the Bitcoin prices. That said, I am not bothering much about it now. So far this week, we have seen the prices increasing from $7,400 to $9,600, which showed that there are plenty of other triggers which can have a positive impact on the exchange rates.

toast

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Quote from: Google+ on September 24, 2019, 06:58:08 PM

when there is that much money I think the price of bitcoin will not be able to fall because with that money many will buy bitcoin and will make bitcoin prices go up, even though the price increase is not long at least the price of bitcoin can go up and can wipe out the sell orders and many can benefit.

maybe with the purchase of bitcoin will certainly make the crypto currency will increase it has become the rule but all the possibilities can happen because we know with bad news only the crypto currency can decrease drastically and positive news will also increase the development of crypto currencies in my opinion the development depending on the crypto currency investor

o_e_l_e_o

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Quote from: fillippone on October 24, 2019, 08:12:02 AM

but I also reckon this situation has already goone way longer and farther than I initially thought.

Agreed. This is very concerning.

As you correctly pointed out back here, the initial excuse from the Fed was to cover quarterly tax payments:

Quote from: fillippone on September 19, 2019, 02:29:30 PM

because of a large fiscal payment date is approaching for many corporate in the US.

This date has long since come and gone. And yet, instead of seeing the repo liquidity decrease, it is now massively increasing instead. Why is the shortage getting worse? Has there been any statement from the Fed about why this "definitely-not-quantitative-easing" is necessary, since their original excuse is now invalid?

I stand by the point I made back here, which seems more accurate the longer this goes on. This is looking more and more like the banks are in serious trouble.

kapalmabur

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Quote from: redsun114 on October 27, 2019, 08:18:48 AM

Quote from: agentx44 on October 24, 2019, 09:02:27 AM

We cannot be decieved by such things. We should take precautions whenevet this instances occurs so that we can protect our investment. It can actually be a bear trap so we should be always mindful with our decisions and always avoid selling your bitcoin just because its value went down. We just need to be patient, things will get better as time passes by, the price will recover soon so we should not be too excited about our profits.

When I see bitcoin price dump, I usually don’t panic myself at all because I will check the market to see that there is no fud news that has made such dump to occur, and in a situation where you don’t see much fud news, we should have already known that this is a whale trap which the thing we should try to do more than is more of purchasing.

I see that people actually have known this, and they will not panic sell anymore and because they have caught the strategy of whales already, this is why they decided to hide under bakkt to crash the price, thinking that majority of us would feel the crash was as a result of bakkt release and start panic selling again rather than buying, but even with that, I still ended up buying more of bitcoin to the best of my financial status.

right now BAAKT shows their volume is increasing, this is good for bitcoin, but not good for altcoin,
I only have a little bitcoin, and a lot of altcoin, if bitcoin still shows signs of bullish then altcoin will go down again and again

redsun114

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Quote from: agentx44 on October 24, 2019, 09:02:27 AM

We cannot be decieved by such things. We should take precautions whenevet this instances occurs so that we can protect our investment. It can actually be a bear trap so we should be always mindful with our decisions and always avoid selling your bitcoin just because its value went down. We just need to be patient, things will get better as time passes by, the price will recover soon so we should not be too excited about our profits.

When I see bitcoin price dump, I usually don’t panic myself at all because I will check the market to see that there is no fud news that has made such dump to occur, and in a situation where you don’t see much fud news, we should have already known that this is a whale trap which the thing we should try to do more than is more of purchasing.

I see that people actually have known this, and they will not panic sell anymore and because they have caught the strategy of whales already, this is why they decided to hide under bakkt to crash the price, thinking that majority of us would feel the crash was as a result of bakkt release and start panic selling again rather than buying, but even with that, I still ended up buying more of bitcoin to the best of my financial status.

Sithara007

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Bitcoin prices went down this week as well, but it didn't had anything to do with the repo rates or the printing of the banknotes. The spike that we had a few months back (when the prices jumped from $3,000 to $12,000 per coin) was caused by the announcement of Libra. And the crash that happened this week (prices dropped by 10% in one day to $7,400), was also caused by rumors that Libra project would be placed on cold storage. Sadly, as of now Bitcoin is not a mature asset that will be more influenced by the news from central banks, rather than rumors from FaceBook and Visa.

agentx44

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Quote from: Kakmakr on September 19, 2019, 01:59:56 AM

This is really amazing, the Federal Reserve just printed some more toilet paper money and injected it into the financial market and the Bitcoin price takes a 5% nose dive. Roll Eyes

How gullible are the investors that they would be willing to pull money out of their Bitcoin investments to fund investments in the over inflated stock markets. Roll Eyes

I think this is just another Bear trap in the making, because we all know what is going to happen on the 23rd of September, when Bakkt is going live!

Let's stay calm and ride this out, because I am definitely not going to sell my coins to greedy scumbags, who are just into Bitcoin for the quick profits. Angry

Do you think this is a Bear trap? Let's discuss...... Tongue

We cannot be decieved by such things. We should take precautions whenevet this instances occurs so that we can protect our investment. It can actually be a bear trap so we should be always mindful with our decisions and always avoid selling your bitcoin just because its value went down. We just need to be patient, things will get better as time passes by, the price will recover soon so we should not be too excited about our profits.

fillippone

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This repo Crisis is again on the news (as it had ever left the newswires btw):

Fed’s Repo Crisis Bullish for Bitcoin, Hints VanEck Executive

Quote

Exemplifying with a ZeroHedge report, Gurbacks noted how increased liquidity was already pushing the benchmark S&P 500 index higher. The US equities surged dramatically during the Wednesday session, shortly after the Fed – suddenly – announced that it would raise the lending amount to the market from $75nbn to “at least” $120bn daily. The announcement caught market participants off-guard, with a repo trader saying that he did not “see a reason to upsize the overnight operation so substantially.”

it all started with this Tweet:

Quote

> The #Fed to add *$120 billion* liquidity *per day* to repo markets.
> That is a massive 60% increase in the overnight repo liquidity availability (from $75 billion to $120 billion).
> #Bitcoin’s market cap is $135 billion. Think about it for a moment.

Twitter Link

again, I think it is littel bit unfair to sum all the O/N operations, but I also reckon this situation has already goone way longer and farther than I initially thought.
So yes, I am now worried, as revealed, imho, a worrisome lack of control and empirism on the short term markets from the FED.
Maybe o_e_l_e_o was right, after all.

fillippone

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Just a couple of updates:

Quote

Nothing to see here.

$180 billion added to the Fed's balance sheet in just one month since the repo liquidity crisis started.

Powell says, "In no sense is this QE!"

https://twitter.com/crescatkevin/status/1183868665789202432

And a post from your fellow Fillippone detailing how the various CB's are pumping money into the systems:

fillippone

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Quote from: Btcvilla on October 07, 2019, 03:12:52 AM

Where did you get source with $175 billion to make bitcoin down? Never give your opinion without have correct information and without use link proof, I think bitcoin down because the moment where many people do not take part become investor and still waiting how bitcoin price become higher or become lower.

Links to original statements have been widely reported along all this thread.
I understand you have to make as many posts as possible for your camping, but at least don't make false statements about users of this thread.

Btcvilla

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Where did you get source with $175 billion to make bitcoin down? Never give your opinion without have correct information and without use link proof, I think bitcoin down because the moment where many people do not take part become investor and still waiting how bitcoin price become higher or become lower.

ivakar

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Quote from: fillippone on September 26, 2019, 04:46:29 AM

Very interesting read, albeit slightly biased for obvious reasons, written by Caitlin Long:

The Real Story Of The Repo Market Meltdown, And What It Means For Bitcoin

Quote

Last week the financial system ran out of cash. It was a modern version of a bank run, and it’s not over yet. Stepping back, it reveals two big things about financial markets: first, US Treasuries are not truly “risk-free” assets, as most consider them to be, and second, big banks are significantly undercapitalized.

this article is rising very interesting question, where all money went? who spent billions!!??
and actually I was thinking that once banks got cheap money from fed they can easily spent it for some assets.. for example for buying some bitcoins... and then the price could go up..
but instead the price went down.. pity

fillippone

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Just an update of the moneyprinting/shadow QE by the FED so far:

Got this data from Bloomberg, that sourced from NY FED:

Quote

U.S. Fed Adds $33.55 Billion in Temporary Reserves (Table)

(Bloomberg) -- Following is a summary of the last 25 operations to the Federal Reserve System’s portfolio as reported by the Federal Reserve Bank of New York. Repurchase agreements and reverse repurchase agreements help influence daily trading in the federal funds market. The central bank’s target rate is 1.75%-2%.

				Collateral	Type
					Accepted			Accepted
Date	Total Submitted	Type	Term of Oper.	Treasury	Agency	Mortgage	Treasury	Agency	Mortgage
10/03/2019	$33.55	RP	1	$28.00	$0.00	$5.55	$28.00	$0.00	$5.55
10/02/2019	$3.05	RRP	1	$3.05	n/a	n/a	$3.05	n/a	n/a
10/02/2019	$42.05	RP	1	$35.00	$0.00	$7.05	$35.00	$0.00	$7.05
10/01/2019	$2.71	RRP	1	$2.71	n/a	n/a	$2.71	n/a	n/a
10/01/2019	$54.85	RP	1	$50.00	$0.10	$4.75	$50.00	$0.10	$4.75
09/30/2019	$7.06	RRP	1	$7.06	n/a	n/a	$7.06	n/a	n/a
09/30/2019	$63.50	RP	1	$49.75	$0.00	$13.75	$49.75	$0.00	$13.75
09/27/2019	$5.33	RRP	1	$5.33	n/a	n/a	$5.33	n/a	n/a
09/27/2019	$22.70	RP	1	$14.45	$0.00	$8.25	$14.45	$0.00	$8.25
09/27/2019	$49.00	RP	10	$34.55	$0.00	$14.45	$34.55	$0.00	$14.45
09/26/2019	$5.18	RRP	1	$5.18	n/a	n/a	$5.18	n/a	n/a
09/26/2019	$50.10	RP	1	$34.55	$0.00	$15.55	$34.55	$0.00	$15.55
09/26/2019	$60.00	RP	10	$43.00	$0.50	$29.25	$35.75	$0.00	$24.25
09/25/2019	$0.13	RRP	1	$0.13	n/a	n/a	$0.13	n/a	n/a
09/25/2019	$75.00	RP	1	$56.30	$1.00	$34.65	$44.35	$1.00	$29.65
09/24/2019	$0.10	RRP	1	$0.10	n/a	n/a	$0.10	n/a	n/a
09/24/2019	$75.00	RP	1	$58.75	$0.60	$20.85	$58.75	$0.36	$15.89
09/24/2019	$30.00	RP	10	$36.40	$0.20	$25.40	$22.73	$0.00	$7.27
09/23/2019	$7.49	RRP	1	n/a	n/a	n/a	$7.49	n/a	n/a
09/23/2019	$65.75	RP	1	$49.70	$0.60	$15.45	$49.70	$0.60	$15.45
09/20/2019	$7.55	RRP	1	$7.55	n/a	n/a	$7.55	n/a	n/a
09/20/2019	$75.00	RP	1	$59.60	$0.60	$15.35	$59.15	$0.50	$15.35
09/19/2019	$5.00	RRP	1	$5.00	n/a	n/a	$5.00	n/a	n/a
09/19/2019	$75.00	RP	1	$56.33	$1.40	$26.15	$55.84	$0.00	$19.16
09/18/2019	$18.91	RRP	1	$18.91	n/a	n/a	$18.91	n/a	n/a

NOTE: Reserves added in US$ billions. RP = Repurchase Agreement. RRP = Reverse Repurchase Agreement. Term of operation in business days
SOURCE: Federal Reserve Bank of New York

Link to NY FED Website.

Well,
this is starting to look gross.

fillippone

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Very interesting read, albeit slightly biased for obvious reasons, written by Caitlin Long:

The Real Story Of The Repo Market Meltdown, And What It Means For Bitcoin

Quote

Last week the financial system ran out of cash. It was a modern version of a bank run, and it’s not over yet. Stepping back, it reveals two big things about financial markets: first, US Treasuries are not truly “risk-free” assets, as most consider them to be, and second, big banks are significantly undercapitalized.

Quote

This is the real reason why the repo market periodically seizes up. It’s akin to musical chairs—no one knows how many players will be without a chair until the music stops. Every player knows there aren’t enough chairs. Everyone knows someone will eventually lose.

I do recommend reading the article, but also all the attached links.

fillippone

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Back on topic guys:

Quote

(Bloomberg) -- New York Fed to boost overnight repo operation limit to $100 billion.

This is the usual ON operations.

Whilst they are going to beef up also the standard 14 days operations:

Quote

*NEW YORK FED TO BOOST THURSDAY TERM REPO OP. LIMIT TO $60B

This time the excuse is the quarter end for corporates. This is usual during quarter end (and above all Year End).

Fillippone is doubtful , and ready to change his mind in front of more evidences of troubles in financial markets.

1Referee

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Quote from: Stedsm on September 25, 2019, 12:30:25 AM

@OP, Thanks to the Bakkt launch we're now almost 20% down from where we were a few days before. As to what I saw, more than $45 billion had been wiped out of the markets since its launch and still counting, but it was all a predicted game of big players who were counting on the astonishing dominance of BTC which, when started to pull back, they came to knew that alts are going to take it over for some time and Bitcoin might lose it hard and Bam, it did! This was actually all planned to kill the longs who bought leveraged positions in lieu of Bakkt's launch and what happened, killed their longs so badly liquidating many of those who were over confident over Bakkt. BTC is going to recover, but not so easy this time.

I don't think it's as bad as you think it is. It's somehow hard for people to fathom that the price of Bitcoin isn't based on anything but what we see happen in the charts. There was no 'real' reason for the price to go up from $3000 to $14,000, but there was (still is) way more reason for the price to go down from where it has been hovering around lately. Profits have to be taken.

If you look at Bitcoin's historical performance, we have always pulled back by at least 50% after a major bull run, which we haven't done yet, so this might very well be that 50% pull back that shakes out a lot of people. It's impossible to say where we will bottom out, but it's quite easy to say that we'll be back stronger than ever before. Patience is key here. Slow accumulation is what I will be focusing on.

mersal

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Quote from: mersal on September 24, 2019, 10:06:18 AM

Read some prediction article that we are about to break $8500 resistance level soon,anyone feels that the prices will fall this much down even after Bakkt launched?

Or they were manipulating the prices to get bitcoins more cheaper!

Most probably to get more bitcoin at a cheaper price. We all know the halving next year and maybe they are doing this in preparation for the mass adoption. We should not panic at the moment and ride the trend with them, those manipulators are making money and we should do that too so buy more bitcoin when its dip.

But the question is how far it can dip with the current movement,going back $6000 again? Or will stay at $8500 and recover from that.

Stedsm

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@OP, Thanks to the Bakkt launch we're now almost 20% down from where we were a few days before. As to what I saw, more than $45 billion had been wiped out of the markets since its launch and still counting, but it was all a predicted game of big players who were counting on the astonishing dominance of BTC which, when started to pull back, they came to knew that alts are going to take it over for some time and Bitcoin might lose it hard and Bam, it did! This was actually all planned to kill the longs who bought leveraged positions in lieu of Bakkt's launch and what happened, killed their longs so badly liquidating many of those who were over confident over Bakkt. BTC is going to recover, but not so easy this time.

thisappointed

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Quote from: mersal on September 24, 2019, 10:06:18 AM

Read some prediction article that we are about to break $8500 resistance level soon,anyone feels that the prices will fall this much down even after Bakkt launched?

Or they were manipulating the prices to get bitcoins more cheaper!

Most probably to get more bitcoin at a cheaper price. We all know the halving next year and maybe they are doing this in preparation for the mass adoption. We should not panic at the moment and ride the trend with them, those manipulators are making money and we should do that too so buy more bitcoin when its dip.

I am shocked when I took a look of my portfolio last night, it is all red, and it's kinda depressing cause we are in this bearish market for almost 2 years and it seems like we have to wait a little bit more for the bullish market. Sadly, I sold already some of my coins because I needed the funds, no regrets though. Right now, if you guys have fiat then it is the right time for you to buy bitcoin.

We're hoping to be in $20,000 by the end of the year and I'm really hoping that it would actually happen because that would be a life saver.

Topic: $175 billion just printed and the Bitcoin price goes down! - page 2. (Read 722 times)