Doesn't matter what price bitcoin is, it already fall to $50k, - cheap for institutions to, so they buy at this price. And now that the price is going to $47k, - they will still buy at this price. So regardless what price will be the floor, they are going to purchase more and more because they have a very deep pockets. It's also a perfect opportunity for retail investors to also buy as much as they can because we might not see bitcoin at this price again.
Most of the ME-TOO Musk buy in was around $42k
Do you really think think the institutions are stupid?
If they buy in it will be the real low.
The real problem right now is the institutions that bought above $47k, and how they tell their investors about the losses, and how they keep their investors from pulling funds.
Remember that all institutional investing was either borrowed COVID money like Musk, or its OPM from hedge-funds and banks. These losses over the past 14 days amounted to $350B USD, so somebody is going to suicide. It's not even Monday AM yet in NYC, we don't know anything.
IMHO the USA GOV will BAIL OUT BITCOIN, too big to fail, it is.
For sure this recent huge dump is the cause of panic sellers with weak hands indeed, most of the sellers recently are for sure the retail ones.
And these institutional investors are very happy to buy Bitcoin at a very cheap price, especially when Bitcoin dips below $50,000.
On most of exchanges, we saw a huge inflow of Bitcoins, so it is probably retail investors that are selling.
Define 'weak-hands', why has DOGE made $50k for guys who bought $1k a month ago? Why is it a month ago if you bought $1k in BTC, its now worth $750
Institutional investors is why BTC went from $47K to $63k, somebody sold to create this $350B loss.
The Archegos hedge-fund collapse a few months ago started this, 10's of billions of losses, biggest hedge-fund collapse since LTMC, it ripples through the system billions in margin-calls, first thing to be sold is GOLD, as it is the most liquid.
The entire reason $350B got parked in BTC is "BTC is the NEW CASH", recall DALIO said "CASH is Trash", USD in the bank is 0.01% ROI, so Institutions from summer of 2020 moved their cash (OPM) to BTC, ok all was good. Then Archegos hit, and the shit hit the fan.
I think the month delay of BTC fall from the GOLD fall is that its so damn hard to pull funds from the exchanges, as you all know Fee's went ASTRO during this time, the system isn't setup to liquidate 100's of Billions of USD in BTC, like it is GOLD. Perhaps the entire fee scam was a mirage too slow down the sale of BTC; Just like Archegos, we don't know if the smart money (GS) got out first, we don't know who is holding the bag?
We don't even know if MUSK sold out at $63k (1.5B), or has he ridden all the way down? We don't know anything.
Weak-Hands is like HODL; Weak-Hands is usually referred to the client, like GS calls them Muppets. The BTC selloff is not weak-hands, its the biggest institutions on earth dumping BTC.
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