JUNE Ended But Records are still Counting the latest Glassnode report Say's.
Fuck Glassnode and their manipulation games.
Just my2ct
Really
I'm sure 😊 you are good at analysis of all the Transections then. I can't put my whole week to analyze the transfer details to take next position and pack up with the coming time,
Many onchain data guys like Willy Woo came up with the 180 degree wrong conclusions again and again in the recent years, since Glassnode and the other services popped into existence.
Some of that data is helpful, sure. But all in all it's just another tool to convince the masses into believing a certain market narrative.
Wrong conclusions? There were interpretations of on-chain data, and opinions, maybe outlooks, but not much more.
Those conclusions only were in your head. You don't want to project onto neutral statements, but you wanna learn from your mistakes and use greatly provided inside information, instead of feeding hopium. Same as for PlanB fanboys. He always said his model(s) point(s) to areas of $$$ to $$$ to become
possible, which is no guarantee or
conclusion in any way. The models broke. So what? He even said from time to time that models are destined for breaking,
it's only a question of the when.
If you want oracles, go to the amusement park of the nearest fair.
I was bullish on PlanB, too. But i'm a hodler. I don't care if or when S2F broke, but i found it interesting.
There will be other models, analysis(es) and "conclusions", but you can be sure of the one thing,
the first law of Bitcoin:
BTCitcoin doesn't care!There is a problem with certain models and data sets, as soon as they lead you to conclusions that are 180° false most of the time.
Of course it's about interpretations of onchain data. But these interpretations were always based on logic.
Just a simple example would be: few coins on exchanges is interpreted as a sign for fewer selling and a higher probability for an upcoming price increase.
A lot of the data you could even backtest many years.
However, nowadays whales and big players know the OC data that we are all shown by Glasnost
tm and else, and they know what the data logically suggests. Accordingly they push the market in the opposite direction to rip off all these onchain analytic believers..
Secondly, OC data can be tweaked to a degree to show a certain OC state of market behavior that simply is not there.
For me OC analysis is a kind of TA and it's nothing newbs should rely on. That's why I'm vocal about it, so they don't fall for it.
I think we all know trading can be dangerous, especially in
BTC, no matter your TA or your Glasnost subscription.
For transparency FWIW... I don't trade and I'm 95-99% in BTC all the time
