Recent market manipulation shows the enormous potential to reach the moon! - page 2.

lombok

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Quote from: bbc.reporter on October 28, 2023, 09:19:45 PM

@lombok. On October 16 and 23, we have witnessed 2 pumps that have liquidated short sellers. On some news reports and new discovered information, it is speculated that Blackrock has begun buying bitcoin to seed their ETF. October 16 and 23 are Mondays. Tomorrow, October 30, is also a Monday.

We might witness another market pump and liquidate traders who are short selling on $35k? This will cause a liquidity cascade to $37k, I reckon.

All of this could happen in the Bitcoin market. Especially if the war gets hotter, I'm sure there will be a lot of money flowing into Gold and Bitcoin of course. I won't comment much on what price Bitcoin will reach, but Bitcoin will definitely continue to rise.

It would be good for blackrock if they started buying and holding BTC, we know that Blackrock is very impressive when it comes to investments, and there is no doubt about that. The fake ETF news regarding the SEC's acceptance of ETFs from Blackrock alone is able to excite the market, especially if it is true.

YUriy1991

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Quote from: bakasabo on October 17, 2023, 03:16:28 AM

Recent market manipulation showed only that manipulators can do with the price whatever they want. Recent manipulation is not about reaching moon, it has showed how easy they can manipulate the price and how easily people believe in this artificial growth. Consider recent price growth as a test. It is said that the growth was triggered by fake news. It is easier to generate fake news, then do serious deals and take controversial decisions on the market. So expect more price jumps and drops soon.

Bitcoin is like digital gold and it is the perfect asset because it is trading in a bubble. Price movements are frequent and volatile meaning they are released at certain times and the above is considered another way to immediately Buy Bitcoin. There is no judgment, no one overseeing this process. That right. Anything that rises so much has plenty of room to fall back.

bbc.reporter

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@lombok. On October 16 and 23, we have witnessed 2 pumps that have liquidated short sellers. On some news reports and new discovered information, it is speculated that Blackrock has begun buying bitcoin to seed their ETF. October 16 and 23 are Mondays. Tomorrow, October 30, is also a Monday.

We might witness another market pump and liquidate traders who are short selling on $35k? This will cause a liquidity cascade to $37k, I reckon.

lombok

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Quote from: davis196 on October 19, 2023, 07:16:28 AM

1.It's true that a lot crypto investors are waiting for the Blackrock BTC ETF to be approved in order to start buying.
I don't think that this has anything to do with Bitcoin's intrinsic value. This is just a speculative bullish expectation.
Speculations have nothing to do with the intrinsic value of an asset. They just come and go.
2.The Bitcoin price went up by 10% for a short time frame. This isn't so impressive. We've seen the Bitcoin price doing way bigger ups in the past.
3.The possibility of a price crash/bearish market remains. Many "bears" are betting on a price drop, which will the "bull" on the market to lose money. There's no guarantee that the Blackrock Bitcoin ETF will be approved.

My addition, why should an investor who is interested in Bitcoin and believes Bitcoin is an investment instrument capable of providing exponential profits in the long term wait for the SEC to authorize a Bitcoin ETF?

Isn't now the right time for them to come in? discounted prices, and if a BTC ETF is accepted in the future then they will quickly make a profit.

In my opinion, this is not a problem of under value or ETF. However, it is clear that there is still not much interest in re-entering the Bitcoin market and FOMO is still not in action. Many retail and large fund holders (whales) still want the lowest price to come back in, plus many analysts still say that BTC still has the potential to fall in price because the price is still below MA200, which means it is still in a bearish trend.

I am sure that if BTC is able to make an optimistic breakout on the MA200 line, this signal will be conveyed and heard by whales, institutions and retail so that FOMO will form into a bullish mode.

*Is it possible that people are starting to worry because the current world conditions are full of war, economic instability makes them distrust foreign currency and stocks and then switch to gold and of course Bitcoin? And the moment is really right, the prices of gold and Bitcoin are rising right now.

davis196

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1.It's true that a lot crypto investors are waiting for the Blackrock BTC ETF to be approved in order to start buying.
I don't think that this has anything to do with Bitcoin's intrinsic value. This is just a speculative bullish expectation.
Speculations have nothing to do with the intrinsic value of an asset. They just come and go.
2.The Bitcoin price went up by 10% for a short time frame. This isn't so impressive. We've seen the Bitcoin price doing way bigger ups in the past.
3.The possibility of a price crash/bearish market remains. Many "bears" are betting on a price drop, which will the "bull" on the market to lose money. There's no guarantee that the Blackrock Bitcoin ETF will be approved.

348Judah

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Quote from: JoyMarsha on October 17, 2023, 07:20:42 PM

What happened to bitcoin price caused me to think more deeply about what the bull run would look like when it happens.

The only news that triggered a rise in the price of Bitcoin within an hour of it being announced was the rumored SEC approval of a bitcoin ETF. What happens then if the Bitcoin halving is revealed on the day it is supposed to begin? How will people respond to it given that many people in the crypto space are aware of it, but few people are aware of what a bitcoin ETF is, despite that its rumored approval by the SEC significantly increased was seen at the price of bitcoin

We have to remember that bitcoin ETF is not going to be the measure to why bullrun should occur or not, we all know that the effect of news has it own contributions towards affecting the market price but on a little effect just as we behold on recent fake news on bitcoin EFT approval, when we are in bull season, there will be a spontaneous rise and the volatility will be as very high than before, this normally comes after the halving, this is the only legitimate reason for bullrun that is reliable and sustainable enough to experience a massive rise in the market and a new all time high comes in after that.

Franctoshi

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The kind of Manipulation recently experienced with the price of Bitcoin is something significant to pay more attention to, and even tighten our seat belts the more, having seen that we are a few months away from the next Bitcoin halving and as the end of the year, it can be entailed from the kind of huge candle stick with long wicks seen lately that the market manipulators are the current participants and actively buying the market right now, Which I do believe that most of them are trying to take their last position and further shake out the last set of sellers and buy from them.

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Quote from: pooya87 on October 16, 2023, 11:44:33 AM

Because of the economic hardship and because many markets are either in red or very risky, there has been a lot of money going into the bonds crap governments keep selling (to borrow money out of the investors' pockets) or is just "adrift" and is waiting to be invested in something.

The recent market manipulation with a fake news about SEC approving the BlackRock ETF showed the massive potential that exists in the bitcoin market to simply shoot to the moon and in a very short time too. In other words a lot of that money is waiting on bitcoin to make the first move to panic buy it "violently". Wink

What happened today is also one of the reasons I insist that currently bitcoin is undervalued (under its intrinsic value).

A lot of people were not expecting Bitcoin to hit $30k and bounce back this quickly, though it looks like a great sign for most Bitcoin holders and short-term traders, I must say that what happened today was nothing less than a nightmare for futures traders as a lot of money must have been liquidated in a matter of few seconds when the market spiked and then dropped back to the position where it originally was before that big large spike.

This has definitely shown the potential the market carries and how quickly one can get some profit from this market, and if they are patient enough, they can fill their pockets with profits after some time. Short-term traders who bought when it was around $26k and might have had sell orders around $30k must be enjoying their time today.

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Quote from: pooya87 on October 18, 2023, 12:27:32 AM

Quote from: bbc.reporter on October 17, 2023, 08:46:51 PM

which caused a liquidity cascade which liquidated the traders who were short selling bitcoin.

Interesting theory, but shouldn't that cause a significant drop in the number of shorts as they get liquidated? If you check out shorts on Tradingview and zoom out you can see that there were huge changes 2 weeks ago and the numbers barely change during the big jump on 16th.

Can you share a screenshot of the chart on tradingview?

This is a chart from coinalyze.net with the total aggregated open interest from the futures market of the biggest crypto exchanges. This clearly shows a short squeeze has occurred that liquidated short sellers. Also, the pump to $30k which immediately went down to $28k without much of a dump also shows it was a short squeeze.

pooya87

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Quote from: bbc.reporter on October 17, 2023, 08:46:51 PM

which caused a liquidity cascade which liquidated the traders who were short selling bitcoin.

Interesting theory, but shouldn't that cause a significant drop in the number of shorts as they get liquidated? If you check out shorts on Tradingview and zoom out you can see that there were huge changes 2 weeks ago and the numbers barely change during the big jump on 16th.

bbc.reporter

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Quote from: pooya87 on October 16, 2023, 11:44:33 AM

The recent market manipulation with a fake news about SEC approving the BlackRock ETF showed the massive potential that exists in the bitcoin market to simply shoot to the moon and in a very short time too. In other words a lot of that money is waiting on bitcoin to make the first move to panic buy it "violently". Wink

I disagree. It was only market manipulation, this was not money waiting to buy. Market manipulators pumped the bitcoin futures market which caused a liquidity cascade which liquidated the traders who were short selling bitcoin. After this when the traders bought long futures, they were also liquidated when the price dumped hehehehe.

This is not good for bitcoin because this type of market manipulation might give another reason for uncle Gary to disapprove on all spot ETF applications.

JoyMarsha

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What happened to bitcoin price caused me to think more deeply about what the bull run would look like when it happens.

The only news that triggered a rise in the price of Bitcoin within an hour of it being announced was the rumored SEC approval of a bitcoin ETF. What happens then if the Bitcoin halving is revealed on the day it is supposed to begin? How will people respond to it given that many people in the crypto space are aware of it, but few people are aware of what a bitcoin ETF is, despite that its rumored approval by the SEC significantly increased was seen at the price of bitcoin

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It's like a ticking bomb ready to explode and yes, we're talking about the money that's waiting on the side lines when the right time comes.

Quote from: michellee on October 17, 2023, 02:15:04 AM

But whatever it is, I feel that the current price of Bitcoin is still being held down by "them," but I don't know who they are. But no matter what, I'm still enjoying this Bitcoin journey while taking profits little by little and still waiting for the next ATH.

But I could be wrong about this so I am sorry.

We have no idea who they are but we're mostly going to agree to just let it say that they're the 'whales'. Well, that doesn't mean that they're literally the big players in the market but there's another description of them now just after how they're able to manipulate the price. And that means they're the literal manipulators of the market, we don't know how big or small they are or how significant all of them are or how synchronized they are.

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Quote from: adaseb on October 17, 2023, 12:47:37 AM

You need to realize what happened today does not increase the chances of approval. If anything a rejection is more likely because it demonstrates what types of manipulation can easily happen in the bitcoin markets.

It was a fake tweet and it ended up causing price to break $30K and then head back down again. So it easily could of wiped out many investors with that move. And this is what SEC might use as an example to not approve any spot etfs.

You have to be one dumb SEC member to think that this pump on fake news is something significant or a proof of manipulation.

I'm sure you know what happened to the price of gold when ETF was approved. It's obvious a similar thing will happen to bitcoin and people know it. The SEC knows it, Blackrock knows it, people who hold bitcoin and traders know it and that last group is responsible for the pump. Traders will buy when the approval finally comes and it's not their fault, nor the fault of bitcoin.
The only party responsible for the manipulation is Cointelegraph and they should pay for it.

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Bitcoin is definitely not over valued, I'm not really sure it's highly undervalued because I see things in dollars translated to my local currency

I know in euros and dollars things look "normal" but we have to understand that majority of the world these are multiplied by a lot and India + China still make up 35% of the world even if economically still weaker.

$50k still sounds reasonable but we all know in bull that can go up many times more so yes I agree higher price for sure, value I'm still not sure Wink

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Quote from: pooya87 on October 16, 2023, 11:44:33 AM

The recent market manipulation with a fake news about SEC approving the BlackRock ETF showed the massive potential that exists in the bitcoin market to simply shoot to the moon and in a very short time too. In other words a lot of that money is waiting on bitcoin to make the first move to panic buy it "violently". Wink

Honestly sounds like too many people waiting to hit the buy button once Bitcoin comes in a regulated form and we did get a glimpse of it.

Btw, where did the fake news of the ETF approval originate from Roll Eyes

Quote from: pooya87 on October 16, 2023, 11:44:33 AM

What happened today is also one of the reasons I insist that currently bitcoin is undervalued (under its intrinsic value).

Very much undervalued because of the bureaucracy, but am certain many people including investors want to have a sense of security when they invest in crypto and this can be done through regulation or in this case an ETF which won't require a user buying the actual Bitcoin as any risk associated with owning it is transferred to someone else, otherwise it's still a win win as demand for Bitcoin will surely increase once the approval is done.

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Quote from: Odohu on October 16, 2023, 12:55:56 PM

I was actually amazed at how market can react vigorously to news. This point to what is expected next year if the ETF is approved, followed by the halving. Bitcoin skeptics will be proven wrong once again. Indeed, exciting times are ahead for Bitcoin.

Inasmuch as the market can react to news of such an event doesn't mean they should spread fake news. I read where Cointelegraph was trying to apologize for the mistakes of it's worker and promised to investigate deeply into what caused the dissemination of the news.
What we should be bothered now is how will a legitimate news affect the market after this happened to push it to almost $30k?
Another question that bugs me is what if they actually manipulated it just because they could? I mean it's not like it can't happen, right? We've heard of a recent happenstance of FTX manipulating price to stay below $20k by authorizing Alameda to continue selling at that amount? Maybe this is one of such occasion only it was done for the positives?

bakasabo

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Recent market manipulation showed only that manipulators can do with the price whatever they want. Recent manipulation is not about reaching moon, it has showed how easy they can manipulate the price and how easily people believe in this artificial growth. Consider recent price growth as a test. It is said that the growth was triggered by fake news. It is easier to generate fake news, then do serious deals and take controversial decisions on the market. So expect more price jumps and drops soon.

YUriy1991

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Quote from: Odohu on October 16, 2023, 12:55:56 PM

I was actually amazed at how market can react vigorously to news. This point to what is expected next year if the ETF is approved, followed by the halving. Bitcoin skeptics will be proven wrong once again. Indeed, exciting times are ahead for Bitcoin.

Yes. as you say, this is just a preview of what will happen if the SEC approves Bitcoin ETFs again despite reconfirmation that they are wrong. but, the mainstream media of course also pays attention to it too to stay updated.

The question is Will the SEC re-approve spot Bitcoin ETFs in the next three or six months?

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That's right @OP. At the current price of Bitcoin, I also think it is undervalued. But people still seem to be waiting for the price to fall further before they start buying. But if this is the last low and those people don't buy Bitcoin immediately, they may regret not buying Bitcoin at this price range.

That little spark will affect the Bitcoin price but I think it's about the ETF approval that will start to provide that spark. As for halving, it will still be a few months from now. And it also may not be able to directly influence the price of Bitcoin to immediately shoot up. Meanwhile, regarding the reduction in US interest rates, this is still a tug-of-war so it may not happen shortly.

But whatever it is, I feel that the current price of Bitcoin is still being held down by "them," but I don't know who they are. But no matter what, I'm still enjoying this Bitcoin journey while taking profits little by little and still waiting for the next ATH.

But I could be wrong about this so I am sorry.

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