Today the media and bitcoin community circus of the potential finding of Satoshi Nakamoto occured. Almost exactly a week after the collapse of the largest and most historically important bitcoin exchange went under in a smoke of fraud and corruption allegations.
Holy crap!
And throw in the fact that this news is occuring on a Thursday (Friday) in some places, the most bearish day of the week over the last year. Yet, the markets, for the most part have not moved today.
I started watching these markets fairly close (as in daily) in August of 2013. So not too long ago. But what has been obvious to me is that in a bull market bad news is neutral and good news moves the markets. In a bear market, good news is neutral and bad news moves the markets. Until today, I had not seen evidence of good news moving the market and/or bad news being neutral since bitcoin was at 1200.
But today, bad news happened and the markets remained neutral.
This is a sign, in my opinion. An important point of data to be put with other points of data.
But if we start to go up on the next positive news cycle or remain neutral the next time bitcoin is bashed, then this may be indicator that the bear market is dead.
How was today bad news?
Someone created Bitcoin. A journalist thought she had found him. Alledgedly, in the presence of two police officers, he claims that he has nothing more to do with Bitcoin as other people have taken it onboard. Later on, he denies ever being involved. Was he, wasn't he, does it matter?
The End.
Bot traders on the exchanges grind slowly up and down, teasing moves in one direction in order to get speculators to jump in, before teasing the price in the opposite direction in order to squeeze them out.
Another same old day at the office as far as I can tell.
