Bitcoin pump is due to whales escaping from bitfinex

Marius was right all along - hes celebrating with a double tumeric vegan shake right now - my hewo

The scale of this exit is so big the pump size doesn't make sense, but it's essentially the same thing that happened in October 14th 2018 x1000

Why do people always try to find a reason? The market Ebbs and flows. It's going up because the amount of people willing to sell has bottomed out. It's that fucking simple.

Underrated post

Yes, this. This is why I feel like I'm taking crazy pills. Is it just total newfags here who only discovered crypto in 2019 anymore? Everything happens for some reason, even if it's not knowable, and in this case it's so obviously knowable you would have had to do zero research not to know it. The only thing I found odd was that the pump didn't start sooner.

100mil was the catalyst of the current bull run. Not to mention that that was one injection of 100 mil in one go. This is almost three times that spread over several days, meaning it draws in a lot more other buyers and FOMOers.

Not a real number. It was way below 100M USD.

yes but it's arbitraged, meaning it's done with cooperation from bitfinex. No one else could arbitrage these amounts.
A pure panic run from bitfinex would result in enormous premium, but it's nearly 0

Yeah, the fact that the premium went back down is interesting. It seems like nobody is expecting them to shut down withdrawals imminently or anything like that.

its just desperate bag holders concerned about muh golden bull fart, too emotional to just see whats really going on. everytime things like this happen theres at least a half dozen posts warning people of whales moving their cones, and we either dump or pump, more often we dump, I never trade these events though because i suck at trading.

Your 'ebbs and flows' are basically wyckoff's changes in accumulation and distribution. We are most likely in a secondary test since we were able to breach 6000. One of the signs is the ability for manipulators to move the market without any volume. Then a few more shakeouts to really empty out remaining bagholders then the markup begins.

During this time FUD will increase when shaking out the last coins out of your bag. During the markup you will see nothing but good news and euphoria.

Shalom aleichem

How would you even trade an event like this though? I don't see how to judge entry or exit points in a situation like this. If there is ever a circumstance in which TA is guaranteed to be 100% useless, it's in major idiosyncratic market events like this

sometimes its extremely obvious, like when we dipped from 6400 to 3400 in November 2018, right before that happened there were multiple post showing some whale group or person moving something like 200k cones to bitfinex. i saw it coming from a mile away but didnt tether because i was scared.

In this case though, it's like the "can't cash out" meme x100. If everyone was relying on Tether and they're starting to try to get out of it en masse, where the fuck are they gonna end up putting their money? Just leave it in BTC? Some crazy shit gonna go down soon, I don't know

if you have money you are scared of losing in the markets id suggest putting your initial in a stable coin that is not tether, like usdc or some other actually legit stablecoin. things could get ugly.

kek I trade only shitcoins that might randomly crash to zero anyway, this is mostly a non-event for me. If BTC manages to get back down to 3k at some point that'll probably be my entry point to snag either some BTC or some ETH to be later turned into more shitcoins

either keep it in BTC or maybe usdc. i know a lot of these whales really hate all the KYC type stable coins and exchanges that come with them, so maybe this is (((their))) way of trying to shake those whales out of the market, who the fuck really knows.. i just hold STINK, so it does not matter to me, either we get super rich, or go broke.

we will probably see the birth of a new "stable coin", or maybe everything stays the same, all i know is that these sneaky ass chinks are up to no good.

If they hate KYC, I'm surprised they haven't rushed in Dero considering it's the only real coin out there right now that doesn't have an inflated marketcap.

Nice try Sanjay

Either way you need to go through btc to exit to fiat.

Coinbase price was well above Bitfinex price for awhile

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How can there be outflow on binance they closed withdrawals

that's only $2k, CZ needed to reup his cocaine stash