Topic: The bitcoin pump on March 12 (Read 615 times)
Today bitcoin set a new record again, after many have waited to be able to pass $ 30k then today the price has reached $ 31600, many speculations say that this year the price can reach at least $ 50k so that will make bitcoin shine even more, another thing is the beginning of the year there will be a halving day which will usually make a big spike in the market.
News update.
Similar to what I mentioned in my Riot mining thread, it appears many people are still in a disbelief stage of the present market cycle. I reckon this will stop and everyone begins shouting that it is a bull market when they witness the price pump to $40k and receive the news that Brad Garlichouse of Ripple saved the cryptospace market by winning a landmark case against the SEC and setting a precedent that many crypto projects are not illegal securities.
No one can be certain if this is the end of the bear market, however, some unexpected occurences might mark the end of it. This victory by Ripple and Garlichouse might be one of them.
XRP coin surges after judge delivers a huge win to Ripple in SEC case
Ripple’s XRP
token surged on Thursday after a judge in the Southern District of New York ruled that it’s “not necessarily a security on its face.”
The news marks the latest development in a three-year battle between Ripple and the Securities and Exchange Commission. There is a possibility that some of these findings could be appealed and reversed. Indeed, the filing said that the court would issue a separate order setting a trial date.
Source https://www.cnbc.com/2023/07/13/xrp-surges-after-judge-delivers-a-huge-win-to-ripple-in-its-case-against-the-sec.html
Similar to what I mentioned in my Riot mining thread, it appears many people are still in a disbelief stage of the present market cycle. I reckon this will stop and everyone begins shouting that it is a bull market when they witness the price pump to $40k and receive the news that Brad Garlichouse of Ripple saved the cryptospace market by winning a landmark case against the SEC and setting a precedent that many crypto projects are not illegal securities.
No one can be certain if this is the end of the bear market, however, some unexpected occurences might mark the end of it. This victory by Ripple and Garlichouse might be one of them.
XRP coin surges after judge delivers a huge win to Ripple in SEC case
Ripple’s XRP
token surged on Thursday after a judge in the Southern District of New York ruled that it’s “not necessarily a security on its face.”
The news marks the latest development in a three-year battle between Ripple and the Securities and Exchange Commission. There is a possibility that some of these findings could be appealed and reversed. Indeed, the filing said that the court would issue a separate order setting a trial date.
Source https://www.cnbc.com/2023/07/13/xrp-surges-after-judge-delivers-a-huge-win-to-ripple-in-its-case-against-the-sec.html
A member of the royal family in Abu Dhabi is short selling stocks and has begun placing their billions in liquidity in bonds through his investment firm. However, there is good news. It appears that some of their billions might also be invested in the cryptospace. I am quite certain bitcoin will hold much of this in the beginning.
Where is the next support for bitcoin? I speculate it might occur very much similar to the pump on March 12 hehehehe.
An investment firm controlled by a top Abu Dhabi royal has built a short position worth billions of dollars in US stocks, people familiar with the matter said, in a bet that growing fears over a recession will pressure markets.
Royal Group turned more negative on equities at the start of the year and has shifted more of its portfolio into short-term US Treasuries, the people said, asking not to be identified because the matter is private. The firm, chaired by United Arab Emirates National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan, is also investing more in commodities and crypto, they said.
Where is the next support for bitcoin? I speculate it might occur very much similar to the pump on March 12 hehehehe.
An investment firm controlled by a top Abu Dhabi royal has built a short position worth billions of dollars in US stocks, people familiar with the matter said, in a bet that growing fears over a recession will pressure markets.
Royal Group turned more negative on equities at the start of the year and has shifted more of its portfolio into short-term US Treasuries, the people said, asking not to be identified because the matter is private. The firm, chaired by United Arab Emirates National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan, is also investing more in commodities and crypto, they said.
It's about time isn't it? They should have invested in billions when the price is like sitting at the bottom last year around $15,500. But hey, they are not late though, we are still far from the bull run that we all expecting and that is supposed to happen after the halving next year.
And definitely this is a big boost to the market, and I think they are going to do in bunch? not just buying one time.
So let's see how it goes, prices is going down as we speak, nonetheless, $25k might be still the biggest support that we have right now.
Agreed, however, I speculate that the royal family from the middle east do not care on the timing of their investments because they have the funds to move their investments and make it appear that they have made the correct timing hehehe.
March 12th is a date that will always be remembered, the increase in a day reached 22% and made the haters stop and could not do anything, they were silent because all efforts made to spread FUDs failed, and this also made many people cry because they sold cheap when the price is below $ 20k, if you are patient you can get 22% profit in a day.
I don't possibly see any haters here, Bitcoin pumped to a very good extent on that day, but the peak of this year is even a later date (14/04), so I don't really know what you are driving at. The pumping and dumping of Bitcoin like any other asset is certain as the market is always dynamic, every trader and investor would know this and they tend to utilize the opportunity rather than hating.And one thing about all these price fluctuations is opportunities, that's for us to gain more if we know how to play our cards very well, not about pointing accusing fingers. What would you say if it dumps again? Because it might reach at least $20,000 if it can't breach a trendline resistance at $29276.
After a fantastic increase in March which could touch $ 12k the price continues to decline, now the price is only around $ 26k, this week the price has dropped more than 8%, if this week the price drops below $ 25k then we should be patient and wait for the right time to buy more because for the long term the price will rise again.
A member of the royal family in Abu Dhabi is short selling stocks and has begun placing their billions in liquidity in bonds through his investment firm. However, there is good news. It appears that some of their billions might also be invested in the cryptospace. I am quite certain bitcoin will hold much of this in the beginning.
Where is the next support for bitcoin? I speculate it might occur very much similar to the pump on March 12 hehehehe.
An investment firm controlled by a top Abu Dhabi royal has built a short position worth billions of dollars in US stocks, people familiar with the matter said, in a bet that growing fears over a recession will pressure markets.
Royal Group turned more negative on equities at the start of the year and has shifted more of its portfolio into short-term US Treasuries, the people said, asking not to be identified because the matter is private. The firm, chaired by United Arab Emirates National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan, is also investing more in commodities and crypto, they said.
Where is the next support for bitcoin? I speculate it might occur very much similar to the pump on March 12 hehehehe.
An investment firm controlled by a top Abu Dhabi royal has built a short position worth billions of dollars in US stocks, people familiar with the matter said, in a bet that growing fears over a recession will pressure markets.
Royal Group turned more negative on equities at the start of the year and has shifted more of its portfolio into short-term US Treasuries, the people said, asking not to be identified because the matter is private. The firm, chaired by United Arab Emirates National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan, is also investing more in commodities and crypto, they said.
It's about time isn't it? They should have invested in billions when the price is like sitting at the bottom last year around $15,500. But hey, they are not late though, we are still far from the bull run that we all expecting and that is supposed to happen after the halving next year.
And definitely this is a big boost to the market, and I think they are going to do in bunch? not just buying one time.
So let's see how it goes, prices is going down as we speak, nonetheless, $25k might be still the biggest support that we have right now.
A member of the royal family in Abu Dhabi is short selling stocks and has begun placing their billions in liquidity in bonds through his investment firm. However, there is good news. It appears that some of their billions might also be invested in the cryptospace. I am quite certain bitcoin will hold much of this in the beginning.
Where is the next support for bitcoin? I speculate it might occur very much similar to the pump on March 12 hehehehe.
CZ dressing up as an Arab
An investment firm controlled by a top Abu Dhabi royal has built a short position worth billions of dollars in US stocks, people familiar with the matter said, in a bet that growing fears over a recession will pressure markets.
Royal Group turned more negative on equities at the start of the year and has shifted more of its portfolio into short-term US Treasuries, the people said, asking not to be identified because the matter is private. The firm, chaired by United Arab Emirates National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan, is also investing more in commodities and crypto, they said.
Source https://www.bloomberg.com/news/articles/2023-05-10/uae-s-royal-group-shorts-us-stocks-on-global-recession-fears
Where is the next support for bitcoin? I speculate it might occur very much similar to the pump on March 12 hehehehe.
CZ dressing up as an Arab
An investment firm controlled by a top Abu Dhabi royal has built a short position worth billions of dollars in US stocks, people familiar with the matter said, in a bet that growing fears over a recession will pressure markets.
Royal Group turned more negative on equities at the start of the year and has shifted more of its portfolio into short-term US Treasuries, the people said, asking not to be identified because the matter is private. The firm, chaired by United Arab Emirates National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan, is also investing more in commodities and crypto, they said.
Source https://www.bloomberg.com/news/articles/2023-05-10/uae-s-royal-group-shorts-us-stocks-on-global-recession-fears
It might not be too late to see the bitcoin pumping around again, but you just have to keep calm and wait for the moment it rises because it is a good move for bitcoin in future.
The Central Bank has been working hard on a solution to some of the financial problems of the last two months, including a temporary bailout and a bank bailout that the U.S. Treasury Department is trying to do something about it. I think the solution would be to require that central bank officials actually spend the money circulating on companies and industries they care about.
However, the Fed and Reserve have shown their inability to create an agency for it, and the Central Bank has shown that they still need to spend all of their money.
They could potentially take advantage of these challenges.
The U.S. Fed recently announced that a loan to San Jose-based real estate investment properties, worth $10 billion, would likely be worth as little as 50 percent of its initial budget for fiscal year 2011, and would allow the bank to raise interest rates on interest loans it could issue.
The most immediate solution is to issue a loan in the next few months, while the dollar will rise to 20%, and if the Fed's approval of a loan makes it worthwhile to borrow, that will push the dollar in favor of bitcoin, in return for a guaranteed 10%, that would give it a good amount of leverage, making it the most expensive-looking asset available.
I guess that is how it works.
However, the Fed and Reserve have shown their inability to create an agency for it, and the Central Bank has shown that they still need to spend all of their money.
They could potentially take advantage of these challenges.
The U.S. Fed recently announced that a loan to San Jose-based real estate investment properties, worth $10 billion, would likely be worth as little as 50 percent of its initial budget for fiscal year 2011, and would allow the bank to raise interest rates on interest loans it could issue.
The most immediate solution is to issue a loan in the next few months, while the dollar will rise to 20%, and if the Fed's approval of a loan makes it worthwhile to borrow, that will push the dollar in favor of bitcoin, in return for a guaranteed 10%, that would give it a good amount of leverage, making it the most expensive-looking asset available.
I guess that is how it works.
Since the beginning of March until now the bitcoin price has jumped significantly where the bitcoin price is trading again in the $28k area. Although we don't know exactly what factors make bitcoin pump. We expect, the current price hike to continue and get to above $35k soon.
Bitcoin has grown from $16k to $28k in the first 3 months of the year, and that is considered an impressive gain for bitcoin. I think instead of expecting another big rally, we should think of the scenario bitcoin will correct from now on, bitcoin can't go up one circuit without a correction. We are still in the bearish season so we cannot expect bitcoin to go up forever without falling.
You can count it a growing as high as $31k in the first 4 months, although that run was not sustainable as obviously it's a mental price for others to sell their bitcoin to make money. Buying at the lowest low in November, then for sure the price picking up and going $31k, you make a lot of profits already so it make sense to sell to take that short term money.
And we are in the end of month, April and the price is above $29k. So it might not end as green candle for us. But still the price is getting stronger like every month. So this pump might continue though and going till the end of the year. We are technically in the bearish phase and so with that, don't expect like new all time high. We might come to a point that this might might bring us to the $40k-$50k level and then the real bull run will start next year. So exciting times ahead so just continue to buy and HODL.
Since the beginning of March until now the bitcoin price has jumped significantly where the bitcoin price is trading again in the $28k area. Although we don't know exactly what factors make bitcoin pump. We expect, the current price hike to continue and get to above $35k soon.
Bitcoin has grown from $16k to $28k in the first 3 months of the year, and that is considered an impressive gain for bitcoin. I think instead of expecting another big rally, we should think of the scenario bitcoin will correct from now on, bitcoin can't go up one circuit without a correction. We are still in the bearish season so we cannot expect bitcoin to go up forever without falling.
March 12th is a date that will always be remembered, the increase in a day reached 22% and made the haters stop and could not do anything, they were silent because all efforts made to spread FUDs failed, and this also made many people cry because they sold cheap when the price is below $ 20k, if you are patient you can get 22% profit in a day.
under normal circumstances a 20% price increase looks extraordinary, but during a bullish phase this looks normal because there are many price increases that are far more significant. speaking of FUD, the people who spread FUD are not people who really hate bitcoin and wish bitcoin to die, but they created FUD with the aim of getting bitcoin cheaply. Since the beginning of March until now the bitcoin price has jumped significantly where the bitcoin price is trading again in the $28k area. Although we don't know exactly what factors make bitcoin pump. We expect, the current price hike to continue and get to above $35k soon.
Bitcoin has grown from $16k to $28k in the first 3 months of the year, and that is considered an impressive gain for bitcoin. I think instead of expecting another big rally, we should think of the scenario bitcoin will correct from now on, bitcoin can't go up one circuit without a correction. We are still in the bearish season so we cannot expect bitcoin to go up forever without falling.
March 12th is a date that will always be remembered, the increase in a day reached 22% and made the haters stop and could not do anything, they were silent because all efforts made to spread FUDs failed, and this also made many people cry because they sold cheap when the price is below $ 20k, if you are patient you can get 22% profit in a day.
There was good news that Michael Saylor bought 6455 bitcoin, however, the market has taken this as a signal to begin dumping. This is a very head shaking behavior hehehhehe.
On March 27, 2023, MicroStrategy announced that, during the period between February 16, 2023 and March 23, 2023, MicroStrategy, together with its subsidiaries, acquired approximately 6,455 bitcoins for approximately $150.0 million in cash, at an average price of approximately $23,238 per bitcoin, inclusive of fees and expenses. As of March 23, 2023, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 138,955 bitcoins, which were acquired at an aggregate purchase price of approximately $4.14 billion and an average purchase price of approximately $29,817 per bitcoin, inclusive of fees and expenses.
Source https://www.sec.gov/Archives/edgar/data/1050446/000119312523079839/d467124d8k.htm
On March 27, 2023, MicroStrategy announced that, during the period between February 16, 2023 and March 23, 2023, MicroStrategy, together with its subsidiaries, acquired approximately 6,455 bitcoins for approximately $150.0 million in cash, at an average price of approximately $23,238 per bitcoin, inclusive of fees and expenses. As of March 23, 2023, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 138,955 bitcoins, which were acquired at an aggregate purchase price of approximately $4.14 billion and an average purchase price of approximately $29,817 per bitcoin, inclusive of fees and expenses.
Source https://www.sec.gov/Archives/edgar/data/1050446/000119312523079839/d467124d8k.htm
Not huge dump though, we went as high as $28,500, but it was not that sustainable. Yeah, not sure though, every news that Saylor is buying bitcoin, the market react negatively. Maybe there is some manipulation behind? I don't know and all I have is pure speculation.
Anyhow, market is moving sideways for the whole week of April.
I'm taking this signal that it's not going to be good for the market this month and hard to breach $30k.
Since the beginning of March until now the bitcoin price has jumped significantly where the bitcoin price is trading again in the $28k area. Although we don't know exactly what factors make bitcoin pump. We expect, the current price hike to continue and get to above $35k soon.
March 12 record is indeed fantastic and usually only occurs 2 or a maximum of 5 times in history, prices rise more than 20% in 24 hours make investors panic and come to buy so as to push prices continue to rise. Hopefully in March it will happen again so that prices can reach $ 30K.
yes this rarely happens and usually only happens when bitcoin is bullish. but the price increase did not last long because after that the price of bitcoin slowly fell, maybe the price decrease occurred because many day traders were selling to secure profits. 
Now a bitcoin is back to over 26k$, and whatever the reason for this is we don't know the exact reason, although there are news that Bitcoin is also not affected much in the market.
Maybe in the middle of this year we will really see the direction of Bitcoin in the market if it continues to go to the bull-run and a lot of people are really peking on it. That's why we should still hold and not be bored as one of its holders.
Maybe in the middle of this year we will really see the direction of Bitcoin in the market if it continues to go to the bull-run and a lot of people are really peking on it. That's why we should still hold and not be bored as one of its holders.
There was good news that Michael Saylor bought 6455 bitcoin, however, the market has taken this as a signal to begin dumping. This is a very head shaking behavior hehehhehe.
On March 27, 2023, MicroStrategy announced that, during the period between February 16, 2023 and March 23, 2023, MicroStrategy, together with its subsidiaries, acquired approximately 6,455 bitcoins for approximately $150.0 million in cash, at an average price of approximately $23,238 per bitcoin, inclusive of fees and expenses. As of March 23, 2023, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 138,955 bitcoins, which were acquired at an aggregate purchase price of approximately $4.14 billion and an average purchase price of approximately $29,817 per bitcoin, inclusive of fees and expenses.
Source https://www.sec.gov/Archives/edgar/data/1050446/000119312523079839/d467124d8k.htm
On March 27, 2023, MicroStrategy announced that, during the period between February 16, 2023 and March 23, 2023, MicroStrategy, together with its subsidiaries, acquired approximately 6,455 bitcoins for approximately $150.0 million in cash, at an average price of approximately $23,238 per bitcoin, inclusive of fees and expenses. As of March 23, 2023, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 138,955 bitcoins, which were acquired at an aggregate purchase price of approximately $4.14 billion and an average purchase price of approximately $29,817 per bitcoin, inclusive of fees and expenses.
Source https://www.sec.gov/Archives/edgar/data/1050446/000119312523079839/d467124d8k.htm
March 12 record is indeed fantastic and usually only occurs 2 or a maximum of 5 times in history, prices rise more than 20% in 24 hours make investors panic and come to buy so as to push prices continue to rise. Hopefully in March it will happen again so that prices can reach $ 30K.
Indeed, since the beginning of March until now, Bitcoin has experienced an increase of 22.64% in the last week. The Bitcoin price is currently at $27.5k. However, it is important to note that the cryptocurrency market can be very volatile and subject to fluctuations, so any prediction or speculation about future price movements should be made with caution.
And now the bitcoin price has returned to its $28k price after yesterday's crash. But this situation doesn't seem safe as the bitcoin price could fall back to $27k. And if it happens again, we are given the opportunity to buy at a low price so we shouldn't waste this opportunity. But what happened is that many people panicked because they weren't ready to see another correction happen. We have to be able to accept fluctuations in the price of bitcoin because it happened a long time ago, and maybe now, the fluctuations can be more extreme than before so we have to be more prepared. But in the long term, a bitcoin price rally is bound to happen again, and if it does, it will create another new ATH. 
March 12th will be an important note because it is up about 20%, no one would have thought that such an easy increase would happen when many people thought the price would continue to fall, and it would take the same thing to happen 2 or 3 times for bitcoin to recover in march or april max .
Bitcoin price has currently increased overnight. For a long time, the price of Bitcoin was between 20k and 22k, from where the price has increased and now it has touched 27k. I can roughly predict that Bitcoin price will touch 30 in March. Because there is good news in the future of Bitcoin and Bitcoin Halving is waiting ahead. According to the cycle, Bitcoin grows exponentially every three to four years.
I am always skeptical and cautious when there is a pump, however, it also appears that there is more spot buying of bitcoin than buying bitcoin with leverage. The price has pumped to touch $28k but the open interest today is presently still lower than the open interest on November, 2022. This implies that it is not leverage pumping bitcoin and it might also imply that the next dump might not have as much volatility.
I just had a look at the open interest chart from LookIntoBitcoin. It doesn't show much of a downtrend since June last year, but more so sideways as well as rising considerably in the past week to reach close to October/November highs.
That said, price is quite a bit higher than back then, while the open interest remains similar. I guess to me it looks like there isn't "too much" open interest, but I wouldn't say it's very low anymore either.
Similar to what I have said already, it implies that the pump is because there are more spot buying of bitcoin than there is buying bitcoin on leverage. This also implies that if there is a dump, it would not cause that much liquidity cascades which sometimes are the cause of more than -10% dumps.
Indeed, since the beginning of March until now, Bitcoin has experienced an increase of 22.64% in the last week. The Bitcoin price is currently at $27.5k. However, it is important to note that the cryptocurrency market can be very volatile and subject to fluctuations, so any prediction or speculation about future price movements should be made with caution.
I'm sure what happened on March 12 will often be repeated in 2023 because it is predicted by many experts that 2023 will explode and reach a new ATH again, many even believe that ATH will occur in July or 4 months, of course this is not impossible because bitcoin often makes surprises.
Bitcoin price has currently increased overnight. For a long time, the price of Bitcoin was between 20k and 22k, from where the price has increased and now it has touched 27k. I can roughly predict that Bitcoin price will touch 30 in March. Because there is good news in the future of Bitcoin and Bitcoin Halving is waiting ahead. According to the cycle, Bitcoin grows exponentially every three to four years.
I am always skeptical and cautious when there is a pump, however, it also appears that there is more spot buying of bitcoin than buying bitcoin with leverage. The price has pumped to touch $28k but the open interest today is presently still lower than the open interest on November, 2022. This implies that it is not leverage pumping bitcoin and it might also imply that the next dump might not have as much volatility.
I just had a look at the open interest chart from LookIntoBitcoin. It doesn't show much of a downtrend since June last year, but more so sideways as well as rising considerably in the past week to reach close to October/November highs.
That said, price is quite a bit higher than back then, while the open interest remains similar. I guess to me it looks like there isn't "too much" open interest, but I wouldn't say it's very low anymore either.
The price has risen so much now we are reaching the lows of 2021 which means alot of volume in this area or near 29k. For whatever reasons BTC felt able to rise so much, we are likely to see selling appear to match the increased volume at this higher price.
2 day average has underpinned the lows on this rally, thats 27k but BTC can fall back as far as 25k and still be trending upwards on a weekly basis I think.
2 day average has underpinned the lows on this rally, thats 27k but BTC can fall back as far as 25k and still be trending upwards on a weekly basis I think.
Am also waiting for an increase in volume to see where price goes next, as since the break above $25K volume has generally been decreasing, as opposed to increasing as you'd generally expect when prices breaks out above a long-term resistance level. I also agree that price can pull-back to around $25K and remain bullish, as was previous break out level as well as near the 200 WMA that's rising bullish still.
There is otherwise some bearish divergence on 4hr and Daily time-frame, similar to previous rejection around $25K, so am thinking a pull-back to support is likely now we are close to previous support level. However there remains the bullish case that last week was the highes gain at 26% since April 2019, so bears may struggle to push prices back down to $25K in the near term.
Bitcoin price has currently increased overnight. For a long time, the price of Bitcoin was between 20k and 22k, from where the price has increased and now it has touched 27k. I can roughly predict that Bitcoin price will touch 30 in March. Because there is good news in the future of Bitcoin and Bitcoin Halving is waiting ahead. According to the cycle, Bitcoin grows exponentially every three to four years.
I agree with what you said, even without good news it is very likely that the price of bitcoin will still increase because 2024 is approaching and most people predict the next halving will occur in 2024. currently the price of bitcoin has not even touched half of ATH 2021 and that means that in the future there will still be many price increases that will occur in bitcoin. 
The price has risen so much now we are reaching the lows of 2021 which means alot of volume in this area or near 29k. For whatever reasons BTC felt able to rise so much, we are likely to see selling appear to match the increased volume at this higher price.
2 day average has underpinned the lows on this rally, thats 27k but BTC can fall back as far as 25k and still be trending upwards on a weekly basis I think.
2 day average has underpinned the lows on this rally, thats 27k but BTC can fall back as far as 25k and still be trending upwards on a weekly basis I think.
The main reason why the price of Bitcoin has been increasing for a few days is that the Central Bank of America has added 300 billion dollars in reserves to the country's economy. Since receiving this good news, the price of Bitcoin has been on a new upward trend. Which is very likely to touch 30k dollars in March. Since the fall in the cryptocurrency price of Bitcoin, there has been no good news for a long time but rather a lot of bad news due to which the price of Bitcoin has been on a downward trend. But since now after this new good news is spread the price of Bitcoin has come up to 28k dollars.
I think it was basically a proof that people who do not really enjoy the banking problems that we are facing right now ended up with this type of "lets all move to bitcoin" together, which caused the price increase but it meant a lot more as well.
It meant that whenever banking world ends up doing something wrong, there are a lot of people and of course a lot of money that goes into the crypto world and that proves that people trust it a lot and want to avoid banks and trust crypto more. Definitely mainly bitcoin, not some small cap coin, but it is still good that the money goes in and increases the price the way it did, that was wonderful to see.
It meant that whenever banking world ends up doing something wrong, there are a lot of people and of course a lot of money that goes into the crypto world and that proves that people trust it a lot and want to avoid banks and trust crypto more. Definitely mainly bitcoin, not some small cap coin, but it is still good that the money goes in and increases the price the way it did, that was wonderful to see.
Although bitcoin has had impressive growth steps while banks are constantly pulling each other to collapse. But I don't see any connection between the two, I mean, the market cap hasn't increased at all, which means that not too many people are leaving the bank, moving to crypto or bitcoin. Bitcoin dominance is at a very high level, bitcoin is up, but altcoins are not gaining too much, it can be seen that the capitalization of altcoins is being sucked in by bitcoin and not by outside money pouring into the market.
Bitcoin price has currently increased overnight. For a long time, the price of Bitcoin was between 20k and 22k, from where the price has increased and now it has touched 27k. I can roughly predict that Bitcoin price will touch 30 in March. Because there is good news in the future of Bitcoin and Bitcoin Halving is waiting ahead. According to the cycle, Bitcoin grows exponentially every three to four years.
I am always skeptical and cautious when there is a pump, however, it also appears that there is more spot buying of bitcoin than buying bitcoin with leverage. The price has pumped to touch $28k but the open interest today is presently still lower than the open interest on November, 2022. This implies that it is not leverage pumping bitcoin and it might also imply that the next dump might not have as much volatility.
I think it was basically a proof that people who do not really enjoy the banking problems that we are facing right now ended up with this type of "lets all move to bitcoin" together, which caused the price increase but it meant a lot more as well.
It meant that whenever banking world ends up doing something wrong, there are a lot of people and of course a lot of money that goes into the crypto world and that proves that people trust it a lot and want to avoid banks and trust crypto more. Definitely mainly bitcoin, not some small cap coin, but it is still good that the money goes in and increases the price the way it did, that was wonderful to see.
It meant that whenever banking world ends up doing something wrong, there are a lot of people and of course a lot of money that goes into the crypto world and that proves that people trust it a lot and want to avoid banks and trust crypto more. Definitely mainly bitcoin, not some small cap coin, but it is still good that the money goes in and increases the price the way it did, that was wonderful to see.
I wouldn't say they "trust" it a lot, but choosing lesser of the two evil, obviously, BTC and crypto will be the logical choice for the majority right now. Those who are rich and wanted to hedge their wealth and stop it from going down, they don't want to depreciate it. And then there are us, BTC enthusiast who, whatever the outcome is, whether there is banking crisis or not, will definitely be pro-BTC. And most likely the majority right now, average Joe who wants to fight inflation as well moving their assets to BTC. And so with that and other factors, I never thought that this pimp is going to continue to $28k. But here we are right now, and most likely it might be pushed to $30k until we get exhausted.
I think it was basically a proof that people who do not really enjoy the banking problems that we are facing right now ended up with this type of "lets all move to bitcoin" together, which caused the price increase but it meant a lot more as well.
It meant that whenever banking world ends up doing something wrong, there are a lot of people and of course a lot of money that goes into the crypto world and that proves that people trust it a lot and want to avoid banks and trust crypto more. Definitely mainly bitcoin, not some small cap coin, but it is still good that the money goes in and increases the price the way it did, that was wonderful to see.
It meant that whenever banking world ends up doing something wrong, there are a lot of people and of course a lot of money that goes into the crypto world and that proves that people trust it a lot and want to avoid banks and trust crypto more. Definitely mainly bitcoin, not some small cap coin, but it is still good that the money goes in and increases the price the way it did, that was wonderful to see.
Bitcoin price has currently increased overnight. For a long time, the price of Bitcoin was between 20k and 22k, from where the price has increased and now it has touched 27k. I can roughly predict that Bitcoin price will touch 30 in March. Because there is good news in the future of Bitcoin and Bitcoin Halving is waiting ahead. According to the cycle, Bitcoin grows exponentially every three to four years.
What is happening with bitcoin right now has surprised the world, when most types of investments are difficult to profit and many have even gone bankrupt but bitcoin this week has gone up more than 35% and another fantastic thing is that in a day or March 12, 2023 it has gone up more than 18%, this certainly silenced the haters who continued to spread FUDs, they were stressed because the mission to cause panic failed.
The increase that occurred on March 12 or exactly a week from now proves that the bitcoin community is very solid and strong, the price rose more than 20% in 24 hours and will always be remembered, of course this is a positive sign for us that this year the market will skyrocket again so that when price drop then will not panic.
March 12 then becomes a special note that will be remembered, bitcoin users will make March 12 as motivation when they feel the red market, the increase that occurred more than 17% in a day proves that the bitcoin community is very strong, at that time the transaction volume reached more than $ 54 billion and keep the haters silent, almost all social media and business tv reports about this so that it becomes a motivation for us to continue buying and are optimistic that this year the price can reach $ 100k.
Such a sharp increase with a very short duration is something very extraordinary and will often be remembered by traders, investors and also the media who often cover cryptocurrency and Bitcoin news. Because it includes a very sharp and very fast increase in Bitcoin with a fairly large percentage and now Bitcoin is still in the $27K price range which for this month I am more optimistic for the $30K price if the increase continues though I haven't thought about a $100K price for Bitcoin this year.
March 12 then becomes a special note that will be remembered, bitcoin users will make March 12 as motivation when they feel the red market, the increase that occurred more than 17% in a day proves that the bitcoin community is very strong, at that time the transaction volume reached more than $ 54 billion and keep the haters silent, almost all social media and business tv reports about this so that it becomes a motivation for us to continue buying and are optimistic that this year the price can reach $ 100k.
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.
Does it necessarily mean that at every pump that bitcoin does there is always a fundamental behind it?
As bitcoin price drops can't it naturally go on without being influenced by any news such as US adoption, US inflation index and so on.?
Does it mean that the index of over buy and over sell does no longer imply in itcoin price fluctuations?
Well, you could be right about Op, but I have also heard news of CZ buying coins worth over a billion which could also be a factor
Yes, this could be one of the reasons though, but we all know that there are a lot of banks being saved now and being bail out by government and it's a sign that they might be printing a lot of money.
And if they are printing a lot of money then it's going to be devalued at some point. And where does people go then so that what they hold won't lost any value, then obviously it will be with crypto like bitcoin because that's how it was design by Satoshi. That's why someone has pointed out that history repeats itself. And that's how we should value BTC more than ever.
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.
Does it necessarily mean that at every pump that bitcoin does there is always a fundamental behind it?
As bitcoin price drops can't it naturally go on without being influenced by any news such as US adoption, US inflation index and so on.?
Does it mean that the index of over buy and over sell does no longer imply in itcoin price fluctuations?
Well, you could be right about Op, but I have also heard news of CZ buying coins worth over a billion which could also be a factor
Currently Bitcoins are at almost 27k usd. This is a great sign to be honest. The pump and hype is real. I guess March will be really big for Bitcoins. Finally we can claim that we are in the Pre pump era, and anything can happen from here. At first February surprised us from suddenly jumping from 19k to 25k and now again March is surprising us. If at the end of March we cross 30k usd, then definitely we might see a new ATH price of the coin. Fingers crossed, let’s hope for the best for the long term holders .
I'm more optimistic when I see prices continue to rise, I'm sure many are panic buying because they see another bull run market, we shouldn't get complacent and can only see prices going up without taking any action, it's better to buy as much as we can and we can get big profits in a short time.
Currently Bitcoins are at almost 27k usd. This is a great sign to be honest. The pump and hype is real. I guess March will be really big for Bitcoins. Finally we can claim that we are in the Pre pump era, and anything can happen from here. At first February surprised us from suddenly jumping from 19k to 25k and now again March is surprising us. If at the end of March we cross 30k usd, then definitely we might see a new ATH price of the coin. Fingers crossed, let’s hope for the best for the long term holders .
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.
history repeats.
the important question is how many of us are going to learn from it.
No one will learn any thing this is the 3rd time the banks are being bailed out and the 2nd time in this decade. Do you think people will learn from their mistakes? The banks are funded by the poor and most people cannot survive without banks until employers and companies start paying their wages in Bitcoin they are not going to learn they are just going to move their money to other banks that have not been bailed out. I bet some people think this is positive that the government are willing to forgive the banks and secure them when things go wrong and see that as security when it is not. history repeats.
the important question is how many of us are going to learn from it.
don't say no one. what are we then?
we are the few who see beyond the bailouts and see the failure of the financial system then choose the exit rout that is bitcoin. every time there is a catastrophe, there are more people who "wake up" to see that failure.
The thing that always makes bitcoin interesting is that the opportunity to skyrocket can occur when most people think that bitcoin has no chance to go up, March 12 will often be remembered by many users because of the fantastic increase that reached 20% in a day even though it finally went down again, lucky for those who buy under $20k then sell on March 12th for over $26k, but I believe prices will continue to rise in 2023.
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March 12 will be a record that everyone will continue to talk about and remember, the increase that occurred once reached 20% so that bitcoin became the top trending on many social media, I believe the factor that made the price skyrocket on March 12 was positive sentiment from an optimistic market that bitcoin will reach $100k in this year.
That's just the beginning and it could have taken a lot of people by surprise especially if the price suddenly shot up to $30k or more. People will think it's time for bitcoin to bounce back, but let's hope they can calm down, keep investing, and get ready to see another correction.After yesterday's increase, the bitcoin price has been corrected again and now it seems stable at first. Hopefully, the bitcoin price can increase again next week. We hope that the bitcoin price can reach its final ATH price this year even though it looks difficult to achieve. But anything can happen and we will see very soon.
I don't trust this kind of price pump of bitcoin. Investors who are going to invest out of FOMO are falling into a trap. Bitcoin is still in the correction stage; it is still too early for an unexpected price increase. Within a few days, bitcoin will revert to its previous price of at least $21,000. No one should rush to rejoice the recent increase in the price of bitcoin. The bear market is still on
Looks like we feel the same way about that. The recent pumping of bitcoin to 26k$ made me doubt it too much to be honest. I am thinking and looking at bitcoin's chart or graph that it may fall again to 20k-21k$.
I just don't know if others here noticed the pattern of the candlesticks why I said it will fall by 20k$-21k$ in a few days or weeks from now. This is in agreement with my technical analysis.
Bitcoin price will increase in the future but it is impossible to be sure whether Bitcoin will go down or up in the current position. So the price of Bitcoin can go up to 30K in March. The price of Bitcoin will increase massively in the future which is why the current position is very bad for Bitcoin. If it survives this blow, the price of Bitcoin will surely cross one hundred thousand dollars.
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.
history repeats.
the important question is how many of us are going to learn from it.
No one will learn any thing this is the 3rd time the banks are being bailed out and the 2nd time in this decade. Do you think people will learn from their mistakes? The banks are funded by the poor and most people cannot survive without banks until employers and companies start paying their wages in Bitcoin they are not going to learn they are just going to move their money to other banks that have not been bailed out. I bet some people think this is positive that the government are willing to forgive the banks and secure them when things go wrong and see that as security when it is not. history repeats.
the important question is how many of us are going to learn from it.
March 12 will be a record that everyone will continue to talk about and remember, the increase that occurred once reached 20% so that bitcoin became the top trending on many social media, I believe the factor that made the price skyrocket on March 12 was positive sentiment from an optimistic market that bitcoin will reach $100k in this year.
I don't trust this kind of price pump of bitcoin. Investors who are going to invest out of FOMO are falling into a trap. Bitcoin is still in the correction stage; it is still too early for an unexpected price increase. Within a few days, bitcoin will revert to its previous price of at least $21,000. No one should rush to rejoice the recent increase in the price of bitcoin. The bear market is still on
I don't know what bear season you're talking about, but the crypto market has been rising for 3 months now. And what happened to the price recently could mean a turning point and the start of a new trend. Even if the price goes back to 21k, it will continue to rise. Anyway, I have seen similar patterns already before two bullish seasons. 
I don't trust this kind of price pump of bitcoin. Investors who are going to invest out of FOMO are falling into a trap. Bitcoin is still in the correction stage; it is still too early for an unexpected price increase. Within a few days, bitcoin will revert to its previous price of at least $21,000. No one should rush to rejoice the recent increase in the price of bitcoin. The bear market is still on
I agree that we are still in bear season, and with black swan events happening to the world economy, a bull season cannot be expected this year. But bitcoin has been rising from the bottom, and we don't need to be too cautious or pessimistic but take advantage of this period. Those who bought bitcoin for $15k last year made huge profits, and it's worth celebrating. In the long term, we need to be sober, but in the short time, this month, I think bitcoin will continue to bring joy to everyone; enjoy.
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.
history repeats.
the important question is how many of us are going to learn from it.
history repeats.
the important question is how many of us are going to learn from it.
A few will, the rest will once again be caught the next time history repeats once more.
But for as long as there are banks, shady and poorly mismanaged, operating within a questionable set of self-serving rules like fractional reserve and whatnot, running as part of the dilapidated fiat system, there will always be reminders. One of the main reasons why there is Bitcoin will surface every now and then in an impactful manner.
It is good. We will never be running out of reminders of Bitcoin's relevance.
I don't trust this kind of price pump of bitcoin. Investors who are going to invest out of FOMO are falling into a trap. Bitcoin is still in the correction stage; it is still too early for an unexpected price increase. Within a few days, bitcoin will revert to its previous price of at least $21,000. No one should rush to rejoice the recent increase in the price of bitcoin. The bear market is still on
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.
history repeats.
the important question is how many of us are going to learn from it.
history repeats.
the important question is how many of us are going to learn from it.
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.
It could be for that reason, it could be for another. Initially when the SVB news came out, Bitcoin had already dropped to $20K and moved sideways after that, seemingly unaffected. Then price pumped back up to $25K and in the meantime they appear to be getting bailed out. I think it's easy to speculate that it's because of the bailout that price pumped, but didn't it already pump before this news anyway?
In reality one of the reason Bitcoin was created is because of the lack of trust with centralized banks, and now we see a major bank go bankrupt for first time in Bitcoin's history (if not mistaken). To me it seems much more likely that the strength of the rebound was because SVB had liquidity issues and needed to claim bankruptcy and/or get bailed out, not because they were bailed out...
The irony being is that $19K to $20K has been a strong level of support for 9 months already, and priced bounced back from there into the $25K resistance level that's also about 7 months old!
Based on that tweet, it's basically Binance's reserve fund so technically yes it's Binance's money.
You know the news right Paxos who backed BUSD and USDP against SEC, this is just my opinion I think CZ wanna get rid of their BUSD 
heheheheI remembered that a few days ago stablecoins went down below 1$ 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.
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.
Yeah the stablecoin that survived is USDT and BUSD all other coin is depeg including USDC is worse because of their money is mostly on SVB. Indluding algorithmic stablecoin like DAI is suffering
Luna too if see the coingecko
and i don't know why this coin pretty much still exist
I think there are a combination of factors that caused the sudden pump. The Fed's decision to halt rate hikes is contributing to it, although in a minor way I think. That USDC depegged is also a factor. There was risk associated with the stable coin that lost its stability so there must be many who decided to convert to Bitcoin for safety reasons. There's already a severe precedent of a stablecoin that lost stability and collapsed. So there must be panic and quick conversions made to avoid a possible similar scenario. And then there were also the huge purchases made by CZ and others.
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.
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.
However, it is not only CZ's $1 billion entering the market. It appears like Paolo Ardiono has begun printing USDT again hehehe.
Tether minted $2 billion USDT in Ethereum and Tron.
https://whale-alert.io/transaction/ethereum/0x86937c9210fa769fb845f41fe171bc6d78230cd5b3e9c5fb63958b817e6c5f87
https://whale-alert.io/transaction/tron/bcfd40eb0828ba059c42924c5b6a08d955b8f2d0037b8f5b31b912e993156438
It might only be a small drop for the market, however, this is bullish news that causes everyone to buy in excitement and pump bitcoin and other cryptocoins.
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.
As of now, the price of Bitcoin is hovering on the $25k zone. The next target is going to be $28k if the momentum stays the same. Apart from the help of the US government, I think what help the price the most to reach this high is the buyers. They are buying massively last time by the time we drop below $20k. That was just initial as you think but I don't think there will be a follow-up anymore now that everything is in green again.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.
USDC coin on the other hand is now valued at $0.9993 from the former $0.8xx. that's a big difference there. This only shows that the people behind the coin are willing to do what they can, only to prove that their coin is not like those past stable coins.
the Bitcoin price was even able to reach the $26,500 Area and then a correction. $26,500 is the highest price for the last few months. To break through the $28k mark it will need some more push. When the bitcoin price yesterday dropped to the price of $ 19k investors started to enter, and currently it is still stable in the price area of $ 24k.
USDC still survived bankruptcy because the team behind it worked well to get the price back to normal. But this is a warning that no stablecoin is safe enough and it can end up like the UST if it doesn't have any backups.
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.
As of now, the price of Bitcoin is hovering on the $25k zone. The next target is going to be $28k if the momentum stays the same. Apart from the help of the US government, I think what help the price the most to reach this high is the buyers. They are buying massively last time by the time we drop below $20k. That was just initial as you think but I don't think there will be a follow-up anymore now that everything is in green again.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.
USDC coin on the other hand is now valued at $0.9993 from the former $0.8xx. that's a big difference there. This only shows that the people behind the coin are willing to do what they can, only to prove that their coin is not like those past stable coins.
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: 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.
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. $25k is the biggest resistance, although we touch it already, but it's hard to maintain that price level.
CZ is actually insane buying 1 Billion worth of BTC/ETH/BNB but I am just curious is this Binance Money and you know the conflict between BUSD and SEC right?
Based on that tweet, it's basically Binance's reserve fund so technically yes it's Binance's money. I remembered that a few days ago stablecoins went down below 1$ 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.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 
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.
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.
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
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.
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.
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.
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
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
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.
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.
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.
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.
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
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.
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
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.
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
https://twitter.com/cz_binance/status/1635131601884700674
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.
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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.
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.
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.
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
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
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