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---> Analyzing Bitcoin's decline for the umpteenth time

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Avatar for jaimewilliam
Written by   3
1 month ago
Topics: Bitcoin, BTC

The same spark that generated the fall, regulation with the USA, added to the new FUD of India, the fall is not stopping, and will continue unless positive news comes out.

I do not know, I see it obvious, the facts and the news move the market, it is a reality for me. If something like I said comes out tomorrow, that McDonalds will accept bitcoin from tomorrow in all establishments in the world or that Brazil is going or intends to adopt BTC as a currency ... it will go up. I do not see the mystery.

The bitcoin in 30k people were euphoric selling their houses and buying bitcoin, especially in the US market. Whoever says that 60k was high because "everyone talks about bitcoin" should have said the same when he was at 30k bitcoin and therefore should not have bought at 30k. If when it was 30k going up, there were 300,000 people who hadn't even talked about bitcoin, saying to buy bitcoin. 🤔

This is not about "how many people" talk about one thing or another. There are many people talking about index funds or SP500 from a long time ago and that is not why it has fallen. It is about "how much money", not "how many people" and it is about "how many events" happen.

When you hear "regulation USA", regardless of how many people listen or stop listening, people with a lot of money hear "fear" and "uncertainty", and therefore "regulation" in the USA, they get scared and sell their millions of dollars to look for a better safe haven value, just in case the regulation affects them too much.

When it comes to "mining" and "prohibition" in India, Indian bitcoin millionaires in India rush to sell their bitcoins, it doesn't matter if there are 3000 people in a forum buying $ 30 on this or that site, an Indian With 3 million wanting to sell, it's worth a lot more than 3,000 people with $ 30 wanting to buy.

Bitcoin at this point is already political, like many of the other assets that are traded between financial institutions, in super disproportionate amounts the% of bitcoin that is in the hands of large banks, governments, political movements, groups of multinational companies is much higher Even imperialist armies, it has been controlled by that part of the system for quite some time and if it seems to me that its price is largely linked to the deals that these entities are doing with each other, which we see as positive or negative news.

It can be said of manipulation, or not, that for me is a topic of discussion. Could they be manipulating it on purpose? Yes and no. But what is a fact (for me) is that the market moves by trends, as everyone goes, I am not inventing the wheel.

We can predict the future and try to hit it, wanting to be "those who sell in the ATH" and those who sell at the "lowest" point, or those who follow the "whales", selling neither at the top, nor buying in the lowest.


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Avatar for jaimewilliam
Written by   3
1 month ago
Topics: Bitcoin, BTC
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Comments

Very nicely written and I agree in your points :)

I think a good strategy is Dollar cost average into Bitcoin!

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1 month ago