because it's a short squeeze
just like it happened last year at almost the exact same time
Bros did we fuck up?
Christopher Diaz
Nathaniel Richardson
You had a good run
Ian Carter
6 mil is nothing there was 500 mil liquidation on leveraged exchanges. If they want to pump it back to 20k they can
Isaiah Morales
Hunting for liquidity. That pop was from that buy order simultaneously triggering stops across multiple exchanges. When they get triggered, the "big fish" takes the other side of those longs in preparation for the next move down. If he spends $100m to trigger $200m worth of bids that he can short into, and is successful in pushing the price to new lows, then he has profited. Liquidity is key and we must always think opposite the market. $3500 and $3300 were obvious longs, personally I've closed them
Christopher Foster
what? No it isn't lol
John Carter
bulls are eating the wall right now
Gavin Taylor
bear hungry. bear can't think straight no more. needs bull meat or will starve.
Robert Ortiz
10/10
Brody King
It really wasn't. This rally broke the narrative around breaking the price for the purpose of accumulating GOX coins. The meta just reset to one of "only 17% of that 160,000 are getting released, of those only a fraction will be sold, and that fraction is peanuts compared to what the miners are currently selling".
There is a shift in the meta toward a resilient market and what comes next is going to depend on whether a black swan happens or some institutional hype comes next.
We are between market cycles right now.
Matthew Wilson
BTFO BTFO BTFO BTFO
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BTFO BTFO BTFO BTFO
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BTFO BTFO BTFO BTFO