Recent market manipulation shows the enormous potential to reach the moon!

EluguHcman

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Quote from: Oshosondy on October 16, 2023, 01:10:04 PM

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

You are right, the showcasing of the halving is a significant approach that implies the roaming that implies that the bull-run is behind the corner to be fully activated but yet fluctuating.
So once halving season is come, it should be expected that the next running season is the bull-run. Bull-runs seasons is usually unpredictable that it is activated suddenly or at the unawareness against massive prediction.

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Quote from: moneystery on November 09, 2023, 12:50:41 PM

don't care what the current market conditions are like, my only focus is investing regularly and holding on to gain future profits. whether the sec approves the blackrock etf or not, or the rubbish speculation created by the government to corner the crypto market, it doesn't matter, i just invest regularly as usual and wait to see how bitcoin goes to the moon after the halving.

If you are optimistic enough about your own stance on Bitcoin, you should no longer be influenced by anything except to just continue investing as usual to prove bigger profits. I also really like your investment style because what you say has absolutely nothing to do with anything else or influence anything else. And now you and everyone else have also seen how market conditions are starting to develop better in just a matter of time.

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don't care what the current market conditions are like, my only focus is investing regularly and holding on to gain future profits. whether the sec approves the blackrock etf or not, or the rubbish speculation created by the government to corner the crypto market, it doesn't matter, i just invest regularly as usual and wait to see how bitcoin goes to the moon after the halving.

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Quote from: Don Pedro Dinero on November 09, 2023, 12:09:30 PM

Quote from: taufik123 on November 08, 2023, 07:56:49 PM

The big news about the acceptance of ETFs is quite awaited, when the news actually appears and is also supported by the Halving that will occur, it will be quite an extraordinary increase to be able to reach the new ATH.
This moment is really awaited by everyone and a feast of profits for loyal holders.

Well, if they are loyal holders they should not sell, or at least not very much, as it is a contradiction in terms to sell and be a holder.

I see that after such a long time there is a bullish feeling in the forum. More positive news about ETFs could catapult it, although I dare not say it is undervalued as it is said in the OP because I don't think there is an objective procedure to calculate intrinsic value, as there is in the stock market. There are procedures, but they don't convince me.

I'm betting on Bitcoin going up. The price is testing a significant resistance, so I've decided to go long, anticipating a bullish breakout.

Regardless of what happens, I believe Bitcoin is poised for a significant upward movement.

Neither the SEC nor the FED will unlikely gonna stop Bitcoin. Institutional investors might pull out before the true halving, ushering in a new cycle, perhaps.

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Quote from: Don Pedro Dinero on November 09, 2023, 12:09:30 PM

Well, if they are loyal holders they should not sell, or at least not very much, as it is a contradiction in terms to sell and be a holder.

I see that after such a long time there is a bullish feeling in the forum. More positive news about ETFs could catapult it, although I dare not say it is undervalued as it is said in the OP because I don't think there is an objective procedure to calculate intrinsic value, as there is in the stock market. There are procedures, but they don't convince me.

hahaha yes, I forgot about the loyal holders who will continue to stay,
But being a holder doesn't have to last for life, there must be a sale to take a little profit and it also depends on where the target price is.

If the loyal holders target a price at $100k ATH, then it will be a way out for those holders to let go of their assets, maybe not all but just some to take advantage.

Positive news about ETFs is a starter that will give a good boost to the market.
And some time ago, hoax news about ETFs can even have a good impact, especially if the news is genuine and comes from an official center, then we can expect a tremendous surge.

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Quote from: taufik123 on November 08, 2023, 07:56:49 PM

The big news about the acceptance of ETFs is quite awaited, when the news actually appears and is also supported by the Halving that will occur, it will be quite an extraordinary increase to be able to reach the new ATH.
This moment is really awaited by everyone and a feast of profits for loyal holders.

Well, if they are loyal holders they should not sell, or at least not very much, as it is a contradiction in terms to sell and be a holder.

I see that after such a long time there is a bullish feeling in the forum. More positive news about ETFs could catapult it, although I dare not say it is undervalued as it is said in the OP because I don't think there is an objective procedure to calculate intrinsic value, as there is in the stock market. There are procedures, but they don't convince me.

taufik123

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Quote from: mirakal on November 08, 2023, 07:35:26 PM

-snip-
The current events make us realize that the market only need big and significant news for bitcoin price to start some massive spikes. And the good thing is the market is in store for big events in the next couple of months and we can't just hide the excitement when everything works in accordance with our plan when that bull run is finally here and bitcoin price is now to set on its new all time high.

But there are good and bad things about the hoax that was spread about ETFs yesterday.
Indeed, the price saw a significant increase, but this was followed by a deep decline as it was discovered to be fake news.
It's kind of a bull trap, but on the positive side, we see the price rising slowly.

The big news about the acceptance of ETFs is quite awaited, when the news actually appears and is also supported by the Halving that will occur, it will be quite an extraordinary increase to be able to reach the new ATH.
This moment is really awaited by everyone and a feast of profits for loyal holders.

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Quote from: OgNasty on October 16, 2023, 11:48:43 AM

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.

Bitcoin is actually waiting for a huge news that will soon to set it into its newest all time high, and this fake ETF approval makes a good start for bitcoin price to start an upward price position regardless if the news is legit or not. With this, the more we become motivated to look forward when the time comes that SEC has legally approved this bitcoin ETF.

The current events make us realize that the market only need big and significant news for bitcoin price to start some massive spikes. And the good thing is the market is in store for big events in the next couple of months and we can't just hide the excitement when everything works in accordance with our plan when that bull run is finally here and bitcoin price is now to set on its new all time high.

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I want to clarify that regardless of what was discussed about the reasons for the events in OP (sudden rise to $30k then drop back down to $27k) no one can deny the huge potential that exists in the market for a big rally. We saw this potential again on 23rd when price jumped to $35k and is still sticking up there not showing any interest in coming down.

Quote from: Fundamentals Of on November 01, 2023, 09:49:57 AM

Sometimes I wonder whether those who are withholding their decision to buy are smart or not. They might have their analysis but their analysis will never be accurate and it could either guide them to do the right decision or to miss the bus. I have read some analyses that the bottom of Bitcoin during the last bear season would be around $10,000 and not $15,000. Of course their analysis was backed by whatever they saw on the charts. They were wrong. That mistake was costly. One year has already passed and the price of Bitcoin never fell to $10,000 but rather rose to $35,000.

It's all about greed. They do some calculations and think if they buy at $10k instead of $20k they can make twice the profit but funny enough, almost all of them end up buying at $40k and lose 50% profit Wink

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Quote from: lombok on October 31, 2023, 09:50:04 AM

Quote from: Fundamentals Of on October 31, 2023, 09:05:32 AM

Quote from: lombok on October 31, 2023, 08:49:56 AM

Regarding wait and see on BTC price action, I really agree, especially for traders, this is a speculative area if they are too hasty to enter. Traders or retailers will be played by a market that is still unstable and has not yet shown a definite direction.

Gold, silver and oil may be the first escape for those panicking about events such as war. As you said, gold and silver are the targets of those who need a safe haven when bad things happen and this has been proven from time immemorial.

For traders who are looking for short term gain, this is indeed a speculative area, but that's always the case for day trading. Whether the price is high or low, they are always cautious because the price of Bitcoin in the short term could either go high or go low. Bitcoin is volatile.

But to those who are looking forward to the long term price of Bitcoin, I think this isn't the time to wait and see. Instead, I think they should be hasty. At what point will you stop waiting and start buying?

There were those who thought that Bitcoin would fall to $10,000. Bitcoin instead rose to $20,000, then to $25,000, and now to $30,000 and above. There's no waiting anymore if you are looking forward a year from now. There are big events lined up happening soon like the Bitcoin spot ETF in the US and the halving. I don't think this is the time to be hesitant.

Yes, when it comes to long-term investments, maybe the current price is a cheap price per BTC. And there's no harm in buying and holding from now on. If there is a decline in the price of Bitcoin, just buy it back and save it to face the bullrun.

For some smart investors, they will buy according to the analysis they have made, without being influenced by FOMO or being in a hurry. There are certain levels such as support and resistance that they pay attention to so that their investment runs optimally.

Sometimes I wonder whether those who are withholding their decision to buy are smart or not. They might have their analysis but their analysis will never be accurate and it could either guide them to do the right decision or to miss the bus. I have read some analyses that the bottom of Bitcoin during the last bear season would be around $10,000 and not $15,000. Of course their analysis was backed by whatever they saw on the charts. They were wrong. That mistake was costly. One year has already passed and the price of Bitcoin never fell to $10,000 but rather rose to $35,000.

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Quote from: Fundamentals Of on October 31, 2023, 09:05:32 AM

Quote from: lombok on October 31, 2023, 08:49:56 AM

Regarding wait and see on BTC price action, I really agree, especially for traders, this is a speculative area if they are too hasty to enter. Traders or retailers will be played by a market that is still unstable and has not yet shown a definite direction.

Gold, silver and oil may be the first escape for those panicking about events such as war. As you said, gold and silver are the targets of those who need a safe haven when bad things happen and this has been proven from time immemorial.

For traders who are looking for short term gain, this is indeed a speculative area, but that's always the case for day trading. Whether the price is high or low, they are always cautious because the price of Bitcoin in the short term could either go high or go low. Bitcoin is volatile.

But to those who are looking forward to the long term price of Bitcoin, I think this isn't the time to wait and see. Instead, I think they should be hasty. At what point will you stop waiting and start buying?

There were those who thought that Bitcoin would fall to $10,000. Bitcoin instead rose to $20,000, then to $25,000, and now to $30,000 and above. There's no waiting anymore if you are looking forward a year from now. There are big events lined up happening soon like the Bitcoin spot ETF in the US and the halving. I don't think this is the time to be hesitant.

Yes, when it comes to long-term investments, maybe the current price is a cheap price per BTC. And there's no harm in buying and holding from now on. If there is a decline in the price of Bitcoin, just buy it back and save it to face the bullrun.

For some smart investors, they will buy according to the analysis they have made, without being influenced by FOMO or being in a hurry. There are certain levels such as support and resistance that they pay attention to so that their investment runs optimally.

Fundamentals Of

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Quote from: lombok on October 31, 2023, 08:49:56 AM

Regarding wait and see on BTC price action, I really agree, especially for traders, this is a speculative area if they are too hasty to enter. Traders or retailers will be played by a market that is still unstable and has not yet shown a definite direction.

Gold, silver and oil may be the first escape for those panicking about events such as war. As you said, gold and silver are the targets of those who need a safe haven when bad things happen and this has been proven from time immemorial.

For traders who are looking for short term gain, this is indeed a speculative area, but that's always the case for day trading. Whether the price is high or low, they are always cautious because the price of Bitcoin in the short term could either go high or go low. Bitcoin is volatile.

But to those who are looking forward to the long term price of Bitcoin, I think this isn't the time to wait and see. Instead, I think they should be hasty. At what point will you stop waiting and start buying?

There were those who thought that Bitcoin would fall to $10,000. Bitcoin instead rose to $20,000, then to $25,000, and now to $30,000 and above. There's no waiting anymore if you are looking forward a year from now. There are big events lined up happening soon like the Bitcoin spot ETF in the US and the halving. I don't think this is the time to be hesitant.

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Quote from: bbc.reporter on October 31, 2023, 12:07:24 AM

Quote from: lombok on October 29, 2023, 06:55:34 PM

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.

The pump did not occur, however. We might need to wait for this next Monday ehehe. Also, if there is war, speculative assets similar to bitcoin might experience some inflows of investment but it might not be inflows as big as we will witness in gold. Gold and precious metals are the only assets that have always been considered real safe haven assets. Bitcoin has not proven itself for this.

Regarding wait and see on BTC price action, I really agree, especially for traders, this is a speculative area if they are too hasty to enter. Traders or retailers will be played by a market that is still unstable and has not yet shown a definite direction.

Gold, silver and oil may be the first escape for those panicking about events such as war. As you said, gold and silver are the targets of those who need a safe haven when bad things happen and this has been proven from time immemorial.

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Quote from: coolcoinz on October 17, 2023, 01:07:10 PM

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.

I don't think that the tweet was fake. I believe, from my reading, that the DTCC actually did list the iSpot ETF for a period of time, which doesn't mean trading is enabled but rather than the support from them was there and it was one step closer....though after the market reaction, or maybe a call from the SEC, they delisted it.

If you read recent news you will see that they state that the DTCC delisted them. Not that the listing never existed. I think that if it was purely fake, the price would have corrected shortly after.

If this is accurate (I am quite sure it is) then I think the best take-aways from the whole saga are:
- DTCC can add the ETF at any time.
- Big corps have threatened to sue the SEC if they keep delaying the process
- Even though the DTCC doubled back on their decision, the price still withheld.
- Value in BTC is seen enough where news like this will pump it, and sentiment stays the same even afterwards!

The space is still bullish, and this situation only highlights more how easy it is for Bitcoin to make big moves. It's also a bit scary how fast it can move, especially for those who aren't ready.

Pierre 2

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That government issued bonds are really hard to calculate if profitable or not. All of them look gorgeous in theory. But when you think that if governments can repay those bonds, inflation may go even higher in future. That's why, mainly Bitcoin and Gold are very good assets to invest right now. But it takes too much patience to wait for Bitcoin price to raise meanwhile on your own, you are experiencing that inflation in your household. I wish I had extra income to buy more Bitcoin.

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Quote from: bbc.reporter on October 31, 2023, 12:07:24 AM

The pump did not occur, however. We might need to wait for this next Monday ehehe. Also, if there is war, speculative assets similar to bitcoin might experience some inflows of investment but it might not be inflows as big as we will witness in gold. Gold and precious metals are the only assets that have always been considered real safe haven assets. Bitcoin has not proven itself for this.

Not yet complete, but only market effects or psychological effects, this is because there are still many changes in the demand and supply of Bitcoin in the market, but I believe that the prospects for Bitcoin's growth are still quite promising from now on.

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Quote from: lombok on October 29, 2023, 06:55:34 PM

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.

The pump did not occur, however. We might need to wait for this next Monday ehehe. Also, if there is war, speculative assets similar to bitcoin might experience some inflows of investment but it might not be inflows as big as we will witness in gold. Gold and precious metals are the only assets that have always been considered real safe haven assets. Bitcoin has not proven itself for this.

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Quote from: Fundamentals Of on October 29, 2023, 10:39:16 PM

I feel like there's really a huge amount of mostly institutional fiat that is about to be converted into Bitcoin with the right reason and timing. I can sense this with what's happening with Bitcoin lately.

If a fake signal of an approved Bitcoin spot ETF in the US couldn't stop the force of this big amount to somehow leak, how much more when the official announcement finally comes?

If a mere listing of BlackRock's IBTC on DTCC which was later on removed didn't stop a tiny portion of this amount to push the price of Bitcoin up to $35,000 very quickly, how much more when it is finally the spot ETF? If it crashed the DTCC network at that point, I can only imagine what the demand can do when it's finally the thing that everybody has been anticipating. $100,000 is easy sooner rather than later.

Definitely. I an quite sure IBTC was actually added to the DTCC for a limited period, until it was delisted a few hours later. If this is the way it went, then this is less false news, and more the DTCC realizing the magnitude of their decision, and then rectifying it. The way it played out us is almost like someone from the SEC ordered it to be removed/delisted....

I think the market reaction during that 3-4 hour period, and following, is enough to see how monumental the news is and how much it can effect the market

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Quote from: Fundamentals Of on October 29, 2023, 10:39:16 PM

I feel like there's really a huge amount of mostly institutional fiat that is about to be converted into Bitcoin with the right reason and timing. I can sense this with what's happening with Bitcoin lately.
...

I can only imagine what the demand can do when it's finally the thing that everybody has been anticipating. $100,000 is easy sooner rather than later.

Well, I wouldn't be so quick to jump the gun, as we were making similar predictions this cycle, where not a single prediction called for a high below $100K, and look how it turned out, at $69K. In approving spot ETFs I would obviously expect a price rise but also volatility, after the initial rise I would also expect ups and downs due to big whales placing massive buy or sell orders to fleece retail investors at opportune moments.

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I feel like there's really a huge amount of mostly institutional fiat that is about to be converted into Bitcoin with the right reason and timing. I can sense this with what's happening with Bitcoin lately.

If a fake signal of an approved Bitcoin spot ETF in the US couldn't stop the force of this big amount to somehow leak, how much more when the official announcement finally comes?

If a mere listing of BlackRock's IBTC on DTCC which was later on removed didn't stop a tiny portion of this amount to push the price of Bitcoin up to $35,000 very quickly, how much more when it is finally the spot ETF? If it crashed the DTCC network at that point, I can only imagine what the demand can do when it's finally the thing that everybody has been anticipating. $100,000 is easy sooner rather than later.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

bbc.reporter

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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

tabas

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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.

coolcoinz

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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.

slaman29

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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

Woodie

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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.

Majestic-milf

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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?

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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.

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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.

pooya87

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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.

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!

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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).

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.

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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).

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, 01:30:06 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.

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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.

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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.

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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.

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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)

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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).

Topic: Recent market manipulation shows the enormous potential to reach the moon! (Read 443 times)