Bitcoin Mini bull run or short Squeeze (manipulation) ? - page 3.

Yatsan

legendary

Activity: 2576

Merit: 1252

Leading Crypto Sports Betting & Casino Platform

Quote from: cryptoaddictchie on January 22, 2023, 02:06:56 AM

Quote from: pooya87 on January 22, 2023, 01:18:32 AM

Bitcoin is not pumping (pumping demands a follow up dump). It is rising and in my opinion the main reason is simply because it was undervalued (a reverse bubble) so it had to correct and go back to realistic values.
After all the dump itself was manipulation to push the price to unrealistically low levels.

Realistic value? So in your opinion at what level should it be staying if all the dump made few months ago was just a solid manipulation. We can say it is, but some institution are probably unload their bags due to the recession that we have experience and we all knew cash is the best weapon during recession.

There's no such thing as realistic value simply because its market price is determine by demand which means sky is the limit. Institutions might be holding longer I think, for sure they have entered already at $15k and are only waiting for a huge pump. Economic recession I guess has nothing to do with this one. For sure they are not dumb enough to put their threshold into another investment which is too volatile. What we are seeing might be a temporary spike with the prices due to mixed factors; the report and other related news in this industry. But this is something to look forward to for this year given how long the market remained on dip last quarter of the previous year.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: cryptoaddictchie on January 22, 2023, 02:06:56 AM

Realistic value? So in your opinion at what level should it be staying if all the dump made few months ago was just a solid manipulation. We can say it is, but some institution are probably unload their bags due to the recession that we have experience and we all knew cash is the best weapon during recession.

It is tough to say but it is clear that $16k was way below the intrinsic value of bitcoin whether you want to compute it based on the cost of mining which some people do or based on the historical price movements where $20k was the last bubble's peak we saw back in 2017 and price never goes below it. Not to mention with all the adoption we had price had to have gone up not go down. But when a lot of bitcoin is unloaded on a small market with thinned order books, the price tends to go below the intrinsic value very easily.

cryptoaddictchie

legendary

Activity: 2268

Merit: 1379

Fully Regulated Crypto Casino

Quote from: pooya87 on January 22, 2023, 01:18:32 AM

Bitcoin is not pumping (pumping demands a follow up dump). It is rising and in my opinion the main reason is simply because it was undervalued (a reverse bubble) so it had to correct and go back to realistic values.
After all the dump itself was manipulation to push the price to unrealistically low levels.

Realistic value? So in your opinion at what level should it be staying if all the dump made few months ago was just a solid manipulation. We can say it is, but some institution are probably unload their bags due to the recession that we have experience and we all knew cash is the best weapon during recession.

KFC786

member

Activity: 63

Merit: 14

Quote from: virasog on January 22, 2023, 12:47:47 AM

When each and every analysis was bearish on the bitcoin and everyone was expecting bitcoin to dump to 12K-14K$, the bitcoin start pumping and reached 23K in few days time.

Also, when we look at the fundamentals, they are also all bearish with events like Luna Crash, FTX Crash, Stable coins fund, Gemini and other companies' bankruptcy.

Also, we do not have any positive news about bitcoin recently, do we?

In these times, the bitcoin to pump makes me wonder whether it is due to manipulation and short squeeze to liquidate many short positions opened on bitcoin?

We just do not know that what can happen in next coming weeks but that's not bull either. But still Bitcoin price may go back to almost 30k at the end of February and that could push a lot of buyers to buy and whales can also make good money too.

Ojima-ojo

hero member

Activity: 910

Merit: 507

Quote from: virasog on January 22, 2023, 12:47:47 AM

In these times, the bitcoin to pump makes me wonder whether it is due to manipulation and short squeeze to liquidate many short positions opened on bitcoin?

Ops wonder no more, because it is too early for that and the only time Bitcoin increase or decrease in value will cause me to wonder as for what is behind its movement is when the percentages movement in both direction is up to 15% to 20% within a short period not more than 24 to 48 hours.

But this time bitcoin just gain a little around 3% to 1.30% in the last few days, and also did that percentage movement in both directions.

So all I can say is the bitcoin is just acting out its normal market movement, and the only event I can point to be responsible for this increase is the US inflation rate that made many stocks gain a few percentage volumes against the dollars in the last few days.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: virasog on January 22, 2023, 12:47:47 AM

When each and every analysis was bearish on the bitcoin and everyone was expecting bitcoin to dump to 12K-14K$, the bitcoin start pumping and reached 23K in few days time.

Just because random people on the internet say a bunch of stuff that doesn't mean those stuff are correct. That doesn't even mean they believe in them! Back in 2017 everyone was saying price is going to reach $100k just because price was on the rise for some time and in about a month went up 2x.

It's the same story these days, just because price dropped for a while a lot of newbies who claim to be "analysts" was too caught up in the drop that thought it should continue indefinitely.

Quote

Also, when we look at the fundamentals, they are also all bearish with events like Luna Crash, FTX Crash, Stable coins fund, Gemini and other companies' bankruptcy.

Most of it had very little to do with bitcoin or its price although they usually cause weak hands' panic sells.

Quote

Also, we do not have any positive news about bitcoin recently, do we?

Good news is not the only reason leading to a rise.

Quote

In these times, the bitcoin to pump makes me wonder whether it is due to manipulation and short squeeze to liquidate many short positions opened on bitcoin?

Bitcoin is not pumping (pumping demands a follow up dump). It is rising and in my opinion the main reason is simply because it was undervalued (a reverse bubble) so it had to correct and go back to realistic values.
After all the dump itself was manipulation to push the price to unrealistically low levels.

un_rank

hero member

Activity: 644

Merit: 661

- Jay -

Could it be a correction of the price?

As you mentioned there have been positive news in the recent past which indirectly and loosely affected bitcoin and could have pushed the price now and now there is a retrace back to the more accurate valuation.

It could also be a mini bull run and the price keeps creeping up with the coming weeks.

- Jay -

virasog

legendary

Activity: 3136

Merit: 1172

Leading Crypto Sports Betting & Casino Platform

When each and every analysis was bearish on the bitcoin and everyone was expecting bitcoin to dump to 12K-14K$, the bitcoin start pumping and reached 23K in few days time.

Also, when we look at the fundamentals, they are also all bearish with events like Luna Crash, FTX Crash, Stable coins fund, Gemini and other companies' bankruptcy.

Also, we do not have any positive news about bitcoin recently, do we?

In these times, the bitcoin to pump makes me wonder whether it is due to manipulation and short squeeze to liquidate many short positions opened on bitcoin?

Topic: Bitcoin Mini bull run or short Squeeze (manipulation) ? - page 3. (Read 382 times)