Whales should strike in the morning (in a few hours) if they want to keep the rising momentum.
If the whales have any intention to buy and hold, they would let this fear build up. That leads to more asks and a lower price. But not too long, as then we would correct down quite a lot.
in case you missed it..
I have been in NYC the past two weeks working on several very significant Bitcoin related projects.
Any chance you can elaborate? Also - Will you be posting to your blog anytime soon?
Wish I could.
Just wait for the news, serious journalists like the WSJ have already been getting briefed but cannot write about it yet, which should come out around the last week of September. Additionally, this fall there will be probably 6+ 'big names', like Richard Bove or Chamath Palihapitiya [starting at 19:15], in the investment community that will come out in favor of Bitcoin and that will cause a lemming like effect.
And the private wealth managers out of Asia are stacking Bitcoins away as the new favorite asset class. Many of the HNWI family offices will not make an investment in the sub-$25-50m range. So, when Bitcoin melts up then it is going to be free range for a lot of these ultra-rich Asia families to move in.
If about $1m of new capital moves the price $9 then just imagine what $500m-$1B of new capital flowing into this asset class would do to the price. Especially if that $500m requires 'clean bitcoins' from a known source of funds. The making of a 'melt-up' in price to a much more fundamentally sound valuation since Bitcoins are largely undervalued given their characterstics (no counter-party risk, cannot be seized and equity based like gold).
This is going to be a wild ride this fall. So strap yourselves in and let's kick the tires and light the fires!
It's times like this that I wish I wasn't sworn to secrecy. There's a few others here that know exactly what's in the pipeline.
You are also involved with this project, Phin?
A storm blew down one of my apple trees by the railroad tracks today.
A storm blew down your apple tree.
Makes it easier to pick the apples.
The Polar Express is on a railroad track.
The Polar Express goes to the north pole.
North pole is on top of the world.
Bitcoins will be easier to get and on top of the world.
