The bitcoin pump on March 12 - page 4.

Yaunfitda

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Quote from: crwth on March 14, 2023, 01:23:52 AM

Now I know the reason why it has increased in price. That's a lot, and you could've made money when it was down. That's the hard part of trading and knowing when to buy and sell. You will never know what could happen in the short term, especially in the long run. Who would've expected that it would go down and immediately rise again? That's just the volatility that we are experiencing.

There is a lot of money in the market, and imagine that $1bn is just a drop, like what?? That's a lot in some countries.

Isn't it about CZ though? But I think it's not, it's about this statement:

https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm

In any case though, the market is very lively, the last time I check the price is about to hit $25k, and hopefully we can stay on that path because of the many big news that's coming our way. $25k is the biggest resistance, although we touch it already, but it's hard to maintain that price level.

jossiel

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Quote from: dansus021 on March 14, 2023, 01:02:50 AM

CZ is actually insane buying 1 Billion worth of BTC/ETH/BNB but I am just curious is this Binance Money and you know the conflict between BUSD and SEC right?

Based on that tweet, it's basically Binance's reserve fund so technically yes it's Binance's money.

Quote from: bettercrypto on March 14, 2023, 03:29:28 AM

I remembered that a few days ago stablecoins went down below 1$ except for Tether, didn't USDC even fall by 0.88$ and a lot of people panicked in this event and other holders of usdc even sold.

Not all stablecoins in general but only USDC and DAI have fell under the usual price of a stable coin of $1 but maybe I've missed some.

Quote from: bettercrypto on March 14, 2023, 03:29:28 AM

But usdc also recovered immediately and it was immediately restored to its 1:1 ratio, which is probably why those who sold usdc are now regretting what happened.

Thanks to fed and all of these actions from banks to banks that's catching SVB with their recent fall down. DAI and USDC are again = $0.99

Dave1

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And with this big news, the next question is what will be the next number for us?

Obviously it will be $25k, but so far it's not "enough" pump, I guess the initial surge of buyers are just enough though to restore where we are prior to some of the negative news around the market. And so everything is green now, and thanks to the good news coming from the US government.

USDC though is below, but close to $1.00 now.

bettercrypto

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Quote from: dansus021 on March 14, 2023, 01:02:50 AM

Quote from: mk4 on March 13, 2023, 01:14:01 AM

Update as of March 13: CZ/Binance is buying $1 billion worth of crypto(BTC/ETH/BNB). Bullish news but $1 billion is technically just a drop in the bucket.

https://twitter.com/cz_binance/status/1635131601884700674

Just saw your post and tracked down the Twitter link, and ended up with this tx https://etherscan.io/tx/0x84ca583046bf011fa040eb9da219e9397d32d54bda7ea99d548a9cdf0a996b4d

CZ is actually insane buying 1 Billion worth of BTC/ETH/BNB but I am just curious is this Binance Money and you know the conflict between BUSD and SEC right?

The other things like OP said it might be true most of the USDC money in SVB Bank and I just read the news - Stablecoin USDC nearly regains $1 peg after Circle says $3.3 billion held with SVB will be available - https://www.cnbc.com/2023/03/13/usdc-nearly-regains-1-peg-after-circle-says-svb-deposit-is-available.html

I remembered that a few days ago stablecoins went down below 1$ except for Tether, didn't USDC even fall by 0.88$ and a lot of people panicked in this event and other holders of usdc even sold.

But usdc also recovered immediately and it was immediately restored to its 1:1 ratio, which is probably why those who sold usdc are now regretting what happened.

crwth

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https://linktr.ee/crwthopia

Now I know the reason why it has increased in price. That's a lot, and you could've made money when it was down. That's the hard part of trading and knowing when to buy and sell. You will never know what could happen in the short term, especially in the long run. Who would've expected that it would go down and immediately rise again? That's just the volatility that we are experiencing.

There is a lot of money in the market, and imagine that $1bn is just a drop, like what?? That's a lot in some countries.

dansus021

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Part of AOBT - English Translator to Indonesia

Quote from: mk4 on March 13, 2023, 01:14:01 AM

Update as of March 13: CZ/Binance is buying $1 billion worth of crypto(BTC/ETH/BNB). Bullish news but $1 billion is technically just a drop in the bucket.

https://twitter.com/cz_binance/status/1635131601884700674

Just saw your post and tracked down the Twitter link, and ended up with this tx https://etherscan.io/tx/0x84ca583046bf011fa040eb9da219e9397d32d54bda7ea99d548a9cdf0a996b4d

CZ is actually insane buying 1 Billion worth of BTC/ETH/BNB but I am just curious is this Binance Money and you know the conflict between BUSD and SEC right?

The other things like OP said it might be true most of the USDC money in SVB Bank and I just read the news - Stablecoin USDC nearly regains $1 peg after Circle says $3.3 billion held with SVB will be available - https://www.cnbc.com/2023/03/13/usdc-nearly-regains-1-peg-after-circle-says-svb-deposit-is-available.html

FanEagle

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Once again it is looking good, a green day for everyone and that is a good thing considering the situation. I believe we are going to see above 25k very soon, it is not something we can avoid, we are trying and trying to have that and it will eventually happen without a doubt.

It is a thing that people are always going to be uncertain and we need to actually pass it to convince some that it could be done with the reason of failure of any traditional bank got nothing to do with bitcoin and delaying the release of bitcoin from a collapsed exchange is a fud to keep bitcoin at lower circuit. We just need to be a bit more patient, and we need to be a bit more aggressive on our purchases and it will definitely happen.

GreatArkansas

legendary

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People just realized that Bitcoin fixes all the problems about these centralized exchanges and I believe that is one of the reasons why we saw huge pumps in the Bitcoin market. That's a perfect bounce from the huge dump.
Now that Bitcoin is back to the price after the USDC de-peg issue, I believe that we either attempt to test $30,000 or just sideways from the $22,000 -> $24,000 level just like before.

bbc.reporter

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Quote from: mk4 on March 13, 2023, 01:14:01 AM

Update as of March 13: CZ/Binance is buying $1 billion worth of crypto(BTC/ETH/BNB). Bullish news but $1 billion is technically just a drop in the bucket.

https://twitter.com/cz_binance/status/1635131601884700674

Agreed that this might only be a drop in a bucket. It might also be more safer for CZ to buy when they ha e went down already instead of being the cause of the beginning of the pump himself.

In any case, Jim Cramer again is telling everyone to sell their bitcoin hehehe. Everyone has noticed that bitcoin pumps everytime his advice tells us to dump. There are some people starting to joke in social media that the Inverse Cramer ETF is presently becoming a substitute for a bitcoin ETF heheheehhe.

thecodebear

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Quote from: bbc.reporter on March 12, 2023, 08:22:01 PM

Bitcoin has been pumping that begun since more than 8 hours. This might be because it appears that the department of treasury of America and the Federal Reserve are going to give Silicon Valley Bank and Signature Bank the funding and the cashflow that they are needing to give their depositors 100% of their money.

After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.

Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.

Read in full https://home.treasury.gov/news/press-releases/jy1337

Yes the Fed will make deposits in the bank whole (printing money) so that means USDC is back to being whole.

It'll be interesting to see what the Fed does as far as interest rates in like a week. 3 banks just failed in the past few days...and higher interest rates are gonna hurt the economy. Will be real interesting if the Fed lays off on raising interest rates for now to not exacerbate the sudden issues. At the very least I think this will cause them to stick with a 25 point raise instead of what looked more likely to be a 50 point raise after the lastest strong job growth and not great inflation numbers.

mk4

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Paldo.io 🤖

Update as of March 13: CZ/Binance is buying $1 billion worth of crypto(BTC/ETH/BNB). Bullish news but $1 billion is technically just a drop in the bucket.

https://twitter.com/cz_binance/status/1635131601884700674

retreat

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Quote from: bbc.reporter on March 12, 2023, 08:22:01 PM

Bitcoin has been pumping that begun since more than 8 hours. This might be because it appears that the department of treasury of America and the Federal Reserve are going to give Silicon Valley Bank and Signature Bank the funding and the cashflow that they are needing to give their depositors 100% of their money.

-snip-

It was great to see that $3.3 Billion of USDC reserved risk was removed and also very satisfying to see a rally in BTC in the last 24 hours. But I see that this could become a trap, it won't last long, because we are still in the winter season and market conditions are still unstable.

adaseb

legendary

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Yes it’s pumping because this might be the fed pivot we were all waiting for. Bonds are also rallying and same with the equity futures.

It’s not a true pivot but GS said that the fed will most likely not hike rates at all next meeting while a couple days ago they might of hiked 50bps. This is why the 2 year lost like 75 bps. Hence why risk on markets are rallying.

bbc.reporter

legendary

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Bitcoin has been pumping that begun since more than 8 hours. This might be because it appears that the department of treasury of America and the Federal Reserve are going to give Silicon Valley Bank and Signature Bank the funding and the cashflow that they are needing to give their depositors 100% of their money.

After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.

Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.

Read in full https://home.treasury.gov/news/press-releases/jy1337

Topic: The bitcoin pump on March 12 - page 4. (Read 597 times)