Recent market manipulation shows the enormous potential to reach the moon! - page 3.

pooya87

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Quote from: adaseb on October 16, 2023, 11:47:37 PM

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.

I personally don't care about ETF and I have always said that people should not adopt bitcoin through any "middle men", if anyone wants bitcoin they should just buy it directly! But what I do care about is the massive amount of money that is waiting on the sidelines, we got a small peek through the curtain and saw what it can do to the price even in a short period like yesterday.

In other words we are only a "spark" away from reaching ATH. What's that spark? I can not tell. It can be ETF approval, it can be halving, it can be US decreasing interest rate, etc.

adaseb

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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.

pixie85

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If they really thought the news was real it didn't really go that much up. 27-30 thousand on the news of an ETF approval? Not even touching the high from August? I'm not impressed.

I agree that bitcoin has a lot of potential for an uptrend. I also think that the fair price right now should be at least 30000 but it stays below that because of the pressure from politicians.
Doesn't matter in the long run though. It's going to go up a week or a year from now, but it's going up!

Upgrade00

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Quote from: pooya87 on October 16, 2023, 10:44:33 AM

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

It is criminally undervalued if we are being honest.

The more the conventional financial system is shown out to be a farce the more valuable an alternative system looks and the more money potentially gets pushed into Bitcoin. This recent pump is just as example of how much capital are available to be pushed into the Bitcoin network with the right amount of trigger.

It felt good seeing a spike after a very long time of boring sideways movement and it's almost only a matter of time now before one ETF gets approved.

hugeblack

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Quote from: pooya87 on October 16, 2023, 10:44:33 AM

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

The matter could happen in reverse, if the price does not change during the coming months, specifically until halving time, investors may start to panic that the upward wave will be different from previous price cycles. The same thing would happen if the price did not reach $100,000 by the end of next year, or at least after 12 months after halving, all these psychological variables make people keep cash and wait until a certain event occurs, and then everyone pays the money. The reason for this is that you can get guaranteed profits from providing loans, so unless the rise in Bitcoin is rapid, they will not think about investing.

Back to the technical analysis, the price is at the 200-Day SMA, which is $28,019, and we are still in the 26k-32k range, so nothing has changed.

jossiel

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$2k+ of pump within less than a day or let's just say for just a couple of hours. This is all about fake Bitcoin ETF approval that we're talking and how much it will be if we see the actual news of SEC's approval for the actual thing and application.

This is giving the idea for everyone that the potential is endless for Bitcoin. It's just like dumb money that's flowing right now and waiting for these news to come before they enter.

Quote from: Doan9269 on October 16, 2023, 12:30:06 PM

Will the spot ETF approval be the means to experience a surge in the market price for this time or we should rely only on Halving or both

I think it's safe to say that we should only rely on halving. But for the past halvings, we've seen that there's some push coming from other factors. Like in 2017 there goes the ICOs.

In 2021, there goes the NFTs.

In 2025, Bitcoin ETFs.... We shall see but it won't hurt to expect some help and reliance on both.

Doan9269

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Will the spot ETF approval be the means to experience a surge in the market price for this time or we should rely only on Halving or both, should the sudden rise be attributed to the fake news and the sudden bear also on the same occassion of knowing that everything porported were fake news that all happened today, or maybe we should still believe in those that use to say that bitcoin price is being manipulated on the Institutional investors were found in doing such, everyone keeps popping in their own opinions on same incident, what is worked by is the Halving and nothing more to be trusted as this for bitcoin bullrun the more we are getting closer.

STT

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30k was already possible as a normal target, the news not real but rumor was enough to make it jump to that price. Its a surprise move but also the direction the magnitude is what we'd expect I think. I dont then think we must go beyond that even with ETF news, the bigger prices I imagine will be requiring a snowball effect on multiple time frames where we are bullish for multiple reasons not just one.
We might get the most positive price action without hearing about a ETF, that kind of news is not what I think truly drives BTC in its largest gearing.

Oshosondy

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Halving is equal to bull run
Spot bitcoin ETF is equal to bull run

This news is a rumor, bitcoin increased to $30000 which is not massive enough. If it is not a rumor, it would have been more and probably the next bull run would have started today.

With the all-time-high and people that have known bitcoin as of today, bitcoin is not yet trillion dollars marketcap, definitely it is undervalued.

Odohu

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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.

Ndabagi01

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The manipulation that happened is merely a foreshadowing of what will occur after SEC approves Bitcoin ETF. The price plummeted as soon as it was revealed that the report was fake. This is only a sample of how the price action will look in the next days, months, or next year once it is approved. I was offline, I missed seeing the pump, and I am expecting a rise shortly after this episode which just lasted for less than an hour today.

Tytanowy Janusz

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I just wanted to add that the ETF is practically certain, and a normal investor has just seen what it will do with the price in the short term (+10% pump in 5 minutes). For an average investor isn't this a green light to buy? Isn't it logical to pack now? In my opinion, even though the news was fake, it showed that there is a lot to earn from it once it appears.

And for the currently open trade, the price would have to fall like a rock, breaking through many supports, for this trade to fail because of +10% after the true news instant pump. Just don't lose more than 10% before the real news and you are on profit (not to mention further increases, just initial pump)

OgNasty

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If we’re already seeing upward pressure from ETFs (more likely it’s just buying the rumor at the moment) then when the announcement is made and funds start really buying we could see some massive spikes. I think it’s likely that will be the story for the next year. I look forward to waking up to big price jumps again.

pooya87

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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).

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