Source: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6878842641975386112
#Bitcoin: #Run for #Exits or #Going to #Moon? Time to short the #Bitcoin #hypesters projection of new all-time high?
https://lnkd.in/dCybDqDW
Here is how the year and the next will see the #winding #down of #Bitcoin as it is anticipated to play out as other #Pump and #Dump schemes pan out. Many of the #biggest #holders will continue ‘#talking #up’ (just like what happened with #Tesla stock) #Bitcoin so that small #retailers keep buying while the #Whales #cash #out of their #profits: https://lnkd.in/djyqWcaP :
Given that many of them have enough clout, i.e., #concentration of power [ e.g. $1.1 billion profit at the time of exit isn’t really shabby regardless of the exit point on the moving chart ] , relative to average #small #retailers – more and more being enticed by the #fractional #ownership, they will be executing the above approach by continuing moving the #curve to what will look like #recovering #highs followed by #lower #lows… the classic #whipsaw #effect… https://lnkd.in/dCybDqDW
…While enticing many more small retailers to #BTFD and continuing to join the growing #herd of #bagholders who will see their so called ‘#investments’ wiped out. It is better to treat Bitcoin and all related crypto-currencies not as #investments given that crypto-currencies, despite the incorrect notion of currencies, are all about #speculation, more precisely, #gambling – where the #house always #wins:
Above #hypothesis is based on market observations going back to 2013 when we wrote the #first #technical #report on #Bitcoin & other #crypto #currencies which represent a ‘pit stop’ in transition of #digital ‘money’ to ‘#quantum #money’.
Forbes: #Fed Issued Stark #Bitcoin ‘#Revolution’ #Warning Amid #Sharp #Decline In The #Price Of #Ethereum And Other #Cryptocurrencies: https://lnkd.in/dspfNFMj :
Forbes: #Crypto #Price #Prediction: #Exchange #CEO Warns 2022 Could See #Bitcoin #Crash Amid Huge #Ethereum, #BNB, #Solana, #Cardano And #XRP Sell-Off: https://lnkd.in/dnnS2gcs
From a #technical aspect, the fact that #prices have #retraced by over 20% since the November high confirms that bitcoin has entered into a #bear #market. Bitcoin and cryptocurrency prices have fallen sharply this week, with the combined value of the #crypto #market #losing almost $1 #trillion since its peak in November. The bitcoin price has fallen to lows of just over $45,000 per bitcoin, a more than 30% #decline from an all-time high of almost $70,000 last month. Meanwhile, other major cryptocurrencies, including ethereum, Binance’s BNB, solana, cardano and Ripple’s XRP have also struggled—all #dropping #double-#digit #percentages from their highs. Now, as #bitcoin, #ethereum and other #cryptocurrencies fall in the face of #global #central #bank #policy #tightening along with global stock markets and other assets, the CEO of #Kraken #crypto #exchange has warned he thinks the #bitcoin #price could #fall #dramatically in #2022.
AIMLExchange.com – BRINT.com – C4I-Cyber.com
