INTRODUCTION
Yesterday we've all witnessed another FLASH CRASH within the crypto market and for some of us it was nothing more than another buying opportunity. However, many people out there seem to be concerned and heavily affected with this dip. Often calculating their losses and wondering what the heck had just happened.
I've read posts and comments mentioning different reasons for that "bloodbath". Some would blame the new strain of covid, others would point out negative statements coming from FED or some dump happening on the traditional markets. And obviously "market manipulation" is quite a common (and quite general) explanation.
Let me share my view on this recent flash crash, what caused it and what I expect in the near future. I will also share my personal answer to the following question: Is dream of BTC reaching 100k usd this year over?
Hopefully some of you will share your own opinion.
THOSE PAINFUL LIQUIDATIONS ... AGAIN
According to Coinglass , nearly $1 billion worth of cryptocurrencies had been liquidated during that flash-crash. That number is INSANE. Wouldn't you agree?
Only 3 months ago I've wrote about other flash crash and how it has been accelerated by mass liquidations. I've also briefly explained how overleveraging works, so if you have a moment then I would recommend checking out this post.
For the purpose of this post I will assume that everyone reading it is aware how to leverage our positions and how risky it can be.
MAIN REASON BEHIND RECENT DUMP ...
In my view, the reason behind the current correction has been caused mainly by only one "large player" who dumped 1500 BTC within as little as one minute. This "whale" timed the market very well and executed the entire sale the moment the correction just started, triggering a cascade of liquidations. It's as simple as that.
Coindesk in their publication wrote those words about it:
“So far I’ve seen an upwards of 4,000 BTC being sold that pushed the market abruptly down,” said Laurent Kssis, a crypto exchange-traded fund expert and director of CEC Capital. “In fact, 1,500 BTC alone was sold in less than a minute at the time of the drop.”
Some of you may wonder how as little as 4k BTC can shake the entire market. After all, there is almost 19mln Bitcoin in circulation. So those 4k BTC should hardly matter. Right?
However, there is one important factor we need to consider. Currently the majority of those Bitcoins are locked on different sort of DeFi platforms or simply have been moved to hard wallets. If we look at the percentage of BTC being stored at hard wallets, then we will quickly realize that we're at close to all time highs. Which is very bullish, but it also means that there isn't much liquid BTC on the exchanges, and selling a few thousand bitcoins on the spot market (within a short period of time) can easily affect the market.
And this is exactly what we experienced yesterday. Hopefully I'm making sense so far.
WHY WOULD ANYONE DO THAT?
It is a valid question to ask: why would anyone sell 1500 BTC on the spot markets within a minute? Why not spread that sale within time and OBVIOUSLY enjoy much higher profits. Wouldn't it be logical to sell little by little, whenever the price of Bitcoin would be close to all time highs?
And this is what I'm thinking: whenever mass liquidations happen, we witness several weeks of price side-movements and another period of accumulation. Since many "bulls" had their positions liquidated - there simply isn't enough strength to quickly bounce back to previous price levels. That gives plenty of time and opportunity for those who caused the entire dump to slowly and steadily buy back their Bitcoin. With huge discounts.
Am I making sense?
WHAT'S NEXT? CAN BTC REACH 100K usd level this year?
This is the right question and I would like to hear from all of you. What would you expect in the near future? Assuming this bull run isn't over - do you still believe that BTC can reach 100k usd before the year ends? Would only one month be enough to double the value of Bitcoin?
Allow me to share my view: my simple answer would be NO. It is very unlikely that within only a few weeks we can reach such a high level. If we look at any flash crash that took place this year, any flash crash which triggered mass liquidation - we will notice long periods of accumulation following a dump.
And this is exactly what I would expect till the end of this year. I may be wrong and perhaps we will witness another ATH (all time high). However ... I think it's a very unlikely scenario.
DO SOME MATH AND EARN SOLID UPVOTE
Would you like to earn 100% upvote on your comment? Then share your thoughts on this particular topic and answer this simple question: how much $$$ was worth those dumped 1500 bitcoin right before the entire dump started?
ps. As usual: I would appreciate every single resteem :)
Project.hope founder,
Cheers, Piotr
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Thanks for this comprehensive assessment on the recent "flash crash". I agree with the opinions expressed in the post.
I think that it is unlikely that Bitcoin will reach 100,000 by the end of the year. The crypto market is moving in a healthy way in my opinion. As can be seen from the logarithmic scale chart below, Bitcoin price is in line with historical averages.
There have been people who predicted that December of this year will be similar to 2013 or 2017. ( Two peaks seen on the chart) Many players in the crypto market also preferred to buy this dream. The recent decline may have been influenced by what was stated in your article, as well as the concern that the dream of a big December rally will not come true.
However, it is quite satisfactory that the Bitcoin price is doubling on average every year. In fact, Ethereum is increasing more than 3 times on average every year. I think that there is no reason to be concerned unless the market deviates from the trajectory I stated above for a very long time.
Over the past three days, the price of Bitcoin has fallen by about 9000 USD. Before the decline, 1500 Bitcoin was worth $ 85.5 million. (1500x57,000=85,500, 000) After the decline, 1500 Bitcoin is worth 72 million dollars. (1.500x48.000=72.000.000)
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Dear @muratkbesiroglu
I truly appreciate your awesome comment buddy.
Now it's clear more than ever. BTC is already below 50k and only 20 days left till end of the year. I'm not even sure if reaching all time high is even possible any more in such a short span of time.
And those people would most likely be right. If those leveraged longs would not be liquidated, then BTC would probably break ATH already. But that one huge manipulation and following cascade of liquidations changed everything. Wouldn't you agree?
Stay safe and enjoy upcoming weekend :)
Yours, Piotr
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Nice work! You just got yourself a $2.24 upvote. Enjoy! Check us out at acom.uno or swing by for a chat at ACOM Discord
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85500000$ were these 1500 bitcoin about value resteem and follow because it is a very interesting, informative Post ❗️👍
Best regards atego
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Thanks for joining our little quizz and for resteeming this post :) Upvote on the way
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I don't think Bitcoin will reach that legendary 100k level in a matter of 25 days. And if did, then to me, it would sound like a negative sign for the long-term growth of crypto. Pumping Bitcoin to double value in a single month will eventually mean dumping it in the months that come afterward. And I always prefer slow and steady growth over pump-dump scenarios.
Honestly, I'm not the best person to answer that question as I usually don't care about the day-to-day prices, but to the best of my memory, it was something like 57k so the amount sold was probably worth about 85m ?
Thanks for sharing your thoughts on this matter. Have a good week :)
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Hi @qsyal
Thanks for dropping by and sharing your feedback with me.
We clearly are on the same page.
Now it's clear more than ever. BTC is already below 50k and only 20 days left till end of the year. I'm not even sure if reaching all time high is even possible any more in such a short span of time.
If only those leveraged longs would not be liquidated, then BTC would probably break ATH already. But that one huge manipulation and following cascade of liquidations changed everything. Wouldn't you agree?
That's correct. Solid upvote on your comment on the way! :D
Stay safe and stay lucky ;)
Cheers, Piotr
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I completely agree with you in your analysis, whoever sold those 1500 BTC will now be able to double his purchase at a lower price and will have obtained a higher profit in the future, the price of those BTc was estimated to be around 87 million dollars.
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hi @joseph1956
That's correct. Solid upvote on your comment on the way! :D
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That's a good observation. I was thinking the same as why the market is crashing with some selling 1500 BTC. But that's around $77166150 so we can't ignore the fact. Also, the news about Biden was there.
Hopefully, the market will surge a little but 100k is an impossible thing. Maybe next year it will be close to that but not in this year. My guess is around $60k at the end of the year. Let's see.
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Great to see that you're still around @iamjohn
Thanks for dropping by and for joining my little quizz. Upvote on the way :)
Cheers buddy
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Thanks. I would live to join to your community. You can check my profile, I'm lately writing on crypto a d finance.
Looking for updates.
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I know that the crypto market is far from being perfect as some whales could still control the direction and value of Bitcoin at the moment. To me, this was pure manipulation and of course, it mostly enriches the rich more. This post made perfect sense to me as it further opened my eyes as to how the market manipulation takes place and how it was achived. THE post further highlights what made the manipulation possible.
The value of the bitcoin as of when sold was $85,500,000. The 1500 BTC was sold at a value of $57,000 each @crypto.piotr
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Whales are made to throw ambergris.😌 needn't to worry would be fragrant time ahead 😄🙏
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Bingo. Solid upvote on the way:)
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thank you. i appreciate
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If you'd take price at crash to be $50,000 the 1500 BTC would be worth 75 mil
I though it's over at 47k put a little long on hoping for a quick earner and got liquidated when it collapsed further to 42k
As to the 100k this year as weird as it sounds i Dont think so and that is why it wouldn't surprise me if it happened whole years been a bit weird and unexpected
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Thanks for joining my little quizz @mattjack
Comment upvoted already :)
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Greetings @crypto.piotr, I always thought that BTC would reach 100k by the end of the year this due to the pace it was going in its bullish channel, but now with these two shocks that the market has presented in less than a week I doubt it will manage to reach 80k to be able to break its all time high.
Whales have always bled the cryptocurrency market but this is inevitable as everyone is looking to generate more income. Let's hope and at least the market manages to close the value of its cryptocurrencies at a good price.
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Dear @carlir
I appreciate your comment.
Indeed. I also would be amazed if we would reach even 80k by end of this year.
I wonder when people will learn not to overleverage themselfs. It does look like leverage is almost like some sort of "drug" and "addiction" to many investors out there.
Wouldn't you agree on that?
Have a great friday buddy,
Yours, Piotr
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hello @crypto.piotr,
it is impressive that a single whale can move the market in such a way, although impressive it is not uncommon, remember when mr. elon musk moved the market
I personally believe that as long as there is fear of a fall by investors, any event can trigger a market correction.
Finally, I am sure that the BTC will reach 100.000 $, I have no doubt about that because of the trajectory it has had since its creation.
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hi @trabajosdelsiglo
That's the problem we're facing: to many BTCs are locked in DeFi or sitting on hard wallets and there isn't much liquidity on the exchanges.
Do you actually believe, that BTC can reach that price level before end of this year?
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Hello dear friend @crypto.piotr
Movements in BTC price action are extremely unpredictable, but what you mention about the withdrawal in a matter of minutes of 1500 BTC makes a lot of sense, and indeed could have triggered more nervousness in the market, making more users out of fear to execute massive sales. Undoubtedly, the BTC will not reach 100K at the end of the year, in fact without this resounding fall it would not have reached it either, I think the projection before the fall was estimated at 70K, which was a reasonable zone.
All in all, I still believe that BTC will continue its bullish run for a couple more months, so we can enjoy solid gains for a while longer.
Best regards, be well.
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Dear @lupafilotaxia
I truly appreciate your awesome comment buddy.
At current stage, I would be surprissed if we would even reach 70k before end of the year. It surely may happen, but I would rather expect few weeks of accumulation period playing out right now.
Stay safe and enjoy upcoming weekend :)
Yours, Piotr
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Before the dump, the price of Bitcoin hit an ATH of $68,521 (as at 5th November). So assuming that the 1500 BTC was sold at this price, then the total worth of it would be:
1500BTC × $68,521
= $102,781,500
That's a large dump from a single entity.
However, some other whales have taken advantage of the dump to enrich their bags. For example, a few days back, Microstrategy (by Michael Saylor) bought $414 million worth of BTC.
I still have hope that we might witness an ATH before the year runs out, but not $100k though.
Thanks for sharing buddy.
Resteemed.
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Thanks for joining my little quizz. Comment upvoted already :)
Stay safe and enjoy upcoming weekend :)
Yours, Piotr
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Greetings dear @crypto.piotr
Certainly market manipulation is always a likely cause of this type of drop, and that a single whale dumped in a matter of minutes 1500 BTC in such a timed manner makes sense of that market action, no doubt that amount would have caused many people to panic, adding more nervous selling. It was really hard for BTC to reach 100K with only a few weeks left in the year, but it is very likely that it will regain its uptrend soon and maybe we will see a new high, if there is not another manipulation like this one.
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We are close to a big ETF that will change everything, I am not saying it will be for this year because it is about to end, however, I am sure that by next quarter things will change in favour of all those who have their BTC in custody.
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Are we close to big ETF @lanzjoseg?
Perhaps I'm missing something, but I didn't hear about possibility of spot market ETF being approved in US anytime soon.
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Greetings dear friend @crypto.piotr, undoubtedly the sudden drop of bitcoin surprised more than one, some specialists mention that it could be caused by market manipulation by exchangue, since the drop took place over the weekend, there are many aspects, the truth is that it is very difficult for bitcoin to reach its historical maximum before the end of the year.
Thank you very much for sharing your opinion on this matter, have a great start of the week.
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And you have a great start of the weekend @amestyj :)
Thanks for dropping by buddy
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The fall of the currencies always have a specific reason that has its origin in the collapse of strong economies in this case apart from the news of the new variant of covid there is also the decrease in the employment rate in the United States and the continuous attacks on cryptocurrencies by some governments that point them out as illegal. Out of this are the investors who take advantage of the sale of large amounts of a currency as in the case of BTC to generate chaos and take advantage of good prices and investment packages in others, it is not surprising that as there is a good amount of blocked BTC the whales are eagerly awaiting these sudden movements in the market to bet on other cryptocurrencies.
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Hi @crypto.piotr
Interesting topic as the crypto community is talking about this topic these days. We were expecting that BTC may hit 100k $ this year-end which seems very difficult to be honest because in just 3 weeks bitcoin price can't go from 50k to 100k.
I expect if the bitcin price starts growing then also it will not cross 70k this year however I easily expect its price to be 85k USD next year in 2022.
Microstrategy has bought BTC again in this dip and it shows that whales are bullish on bitcoin and they are accumulating with each dump in the market. Thanks.
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Makes Sense.
Though exact reason cannot be found out. We can only assume it happened in certain way.
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I'm not sure if I agree with you @knowledgefruit
We're talking about transparent public blockchain, where all data are quite available. And we can sometime "connect dots".
Looking at the time of dump being executed and time of those 1500 bitcoins being sold - one can easily notice that it's exactly the same time-frame. For me it's quite obvious that this has been market manipulation by that one "whale" and he timed market very well. Triggering mass liquidations (which also followed right after that sale and brought price of BTC rapidly down within just few minutes).
Cheers, Piotr
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Greetings @crypto.piotr.
Actually I am not an expert on the subject but I enjoy reading your articles as they allow us to have a proper view on the world of crypto investments especially BTC, in particular I don't think BTC will reach 100k this year either.
Thank you for continuing to educate us in the crypto field.
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“Is dream of BTC reaching 100k usd this year over?”
Probably. We retested highs and quickly dropped to the 50-day moving average. In the short-term, that doesn't make me bullish...and the RSI is weaker compared to the ATH. That said, this is about how much credit is in the system, and how much additional credit will be created (as you mentioned, leverage), pushing asset prices up.
Out of 100% of money, approximately 80% to 90% of it is credit and the rest is cash. Central Banks influence the amount of credit that enters the system with interest rates. Central Banks will be the ultimate determination of how high crypto and all capital assets go.
Another big factor is how many other capital assets are created...to soak up all this extra credit that's being created. The more capital assets that are created, the less money per capital asset, like BTC, will get, which will stifle price accumulation in BTC. So all those new crypto products that are being created, NFT’s come to mind, takes money away from BTC.
One of the biggest scams in the financial services industry, including crypto, is selling ideas...new ideas, special ideas. Most of those ideas are shit, but they do accumulate a lot of money in the short term...at the expense of good projects. Abundant credit often has that effect on people.
So keep your eye on Central Bank policy, because that's going to have the greatest influence on where crypto markets go.
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Dear @fijimermaid
I truly appreciate your awesome comment buddy.
We clearly are on the same page.
If only those leveraged longs would not be liquidated, then BTC would probably break ATH already. But that one huge manipulation and following cascade of liquidations changed everything. Wouldn't you agree?
Indeed. It's hard to disagree with you.
Stay safe and enjoy upcoming weekend :)
Yours, Piotr
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Hello @crypto.piotr!
I have to say I was lukcy, the fraction I lost was tiny since everything was in USDT. I got my friend who expected something like that to happen and advised me to exchange most tokens to a stable one since at the end of the year there is something similar. Do I expect BTC to hit 100k before end of the year? My answer is no and maybe not until March as if always takes time to start going up and higher back in price.
I remember BTC before the dump was somewhere between 57k-53k so I guess that's not less than 82.5mil?
Thanks for sharing with us your point of view!
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Hi @lennyblogs
Thanks for dropping by and sharing your feedback with me.
I'm glad to hear that you had most of your porfolio in USDT. You surely timed market very well. Lucky you :)
We clearly are on the same page.
If only those leveraged longs would not be liquidated, then BTC would probably break ATH already. But that one huge manipulation and following cascade of liquidations changed everything. Wouldn't you agree?
Stay safe and stay lucky ;)
Cheers, Piotr
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Dumping 1500 BTC in one go is worth it because it pushes leveraged longs out of the market and pushes the price further down to make a quick profit by buying in lower.
I think about ~85 mn worth of BTC was sold. And regarding 100k this year, it is possible but the probability is quite low in my opinion. FED comments can cause Bitcoin to go down as well. We have institutional and hedge fund money in this space now and they play with leverage.
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Dear @karamyog
I appreciate your comment. Indeed, dumping that much BTC pushes leverage longs out of the market. Just like you've said.
I wonder when people will learn not to overleverage themselfs. It does look like leverage is almost like some sort of "drug" and "addiction" to many investors out there.
Wouldn't you agree on that?
Have a great friday buddy,
Yours, Piotr
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It is a drug not just for investors but consumers worldwide. The global economy feeds on consumerism that in turn is driven by credit, i.e. leverage. :)
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a good reason is the subsequent flash crash, it also came in hot on the warnings of some institutional investor on how the crypto bubble will pop (agaiinnn ... lol ..) so its almost like collusion , and we all know who has the money to buy-back on the megadip and it isnt the prez of El Salvador (although he'll probably have some fire to endure with this and "maybe" some institutionals are explicitly trying to avoid a country proving that they can , without institutions and the IMF ... all speculation ofcourse and full deniability on the upper behalf.
But its probably safe to say BTC wont reach $100k in the next four weeks,
that would be amazing lol
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Hi @tyrnannoght
Thanks for dropping by and sharing your feedback with me.
Truth be told, I'm not sure who do you have on your mind.
Im actually glad. Longer we stay below $100k level - less hostile attention from mass media and less "newbies" in the space.
Cheers, Piotr
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im not sure, i think its full of newbies in the space and im not talking just the kids on robinhood ... its the big money thats in it and the panic sellers who will cry wolf every single time they fall for it.
Who i have on my mind ? All whales who do it every year for one thing but the new money too. The billionnarie club - Elon Musk got reprimanded for having the best financial quarter ever last year (or is that 2 years already ?) b/c he simply bought and sold BTC in two steps, it had nothing to do with the company. All investors never made a profit like that and still he got checked b/c "thats not how its done"
Im sure it will stick around, especially since there's so much money involved by now, but i fear the classic coins are out of reach of the simple folk ... (i like to say guttertrash and include myself but i so often get misunderstood that it means im looking down or something)
im not looking up or down at anyone ;-)
we can draw a moderately safe conclusion and state that none of the middle or low-end owners will get to sell-off this year to secure their pension fund in stable assets.
Better luck in 2022, i read bill gates predicts "the end of the covid"-era already , the guy must have a better crystal ball than i do, or maybe they sell them where he shops ;-)
best of luck and if we dont speak before, best wishes for the new year.
Im sure we'll both be around for a while, if only as a hobby, even if it refuses flat out to provide enough security to be able to actually risk something or start something with the overflow.
Im personally a long way from that lol
maybe if SHIBA gets to $5 ...
see you around and take care
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So this is the reason for the crash in price of Btc. Well, thanks for updating us and I must admit that it is really painful after the market has been going well for some time now. Well, the person has a reason for doing this but it is painful to see what damages he has done to the market. As per btc reaching 100k usd, I don't think it will get to that price this year.
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It will definitely be difficult for bitcoin to still hit the 100$k landmark before this year ends.
Let's us not forget we are so close to the time of Christmas which at this point people will be trying hard to cash out their earnings which actually make sense.
I believe it's quite good to see what price the bitcoin will end with this year but I believe it will certainly not be $100k
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Greetings my friend @Cypto.piotr
Very good analysis you share with all of us, it is really very striking that massive sale of 1,500 BTC in less than 1 minute, coinciding with the market changes, sowing terror in many people and leading to the massive sale of more than 4,000 BTC that day.
On the other hand, these people who decided to knock down the market in that way, must have already made the purchase again, obtaining a large % of profit, and replenishing the sold BTC.
The people who ended up selling out of fear, are the losers of all this commotion, someone must always lose for others to win, in this case those who lost were the ones who sold at a loss influenced by fear.
Very good publication, and a very reasonable analysis that you share.
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Hi @chucho27
im glad you've enjoyed my little analysis. And hopefully you found it valuable.
Either they had opened futures contract within such a low price, or more likely: they crashed the price triggering cascade of liquidations (without taking much risk comparing to future contracts) and now they will be able to stock up again, during upcoming weeks of side-movement.
Stay safe and enjoy upcoming weekend :)
Yours, Piotr
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Greetings @ crypto.piotr
Very intense information that you present today about bitcoin, which I fully share with you, this way we can better understand the plummeting movement of this cryptocurrency.
I particularly think that the whales make this kind of sudden market movements to take advantage of the soft hands and wait for the dizzying fall of bitcoin to buy many more. These movements are systematic and manipulate the market, and it is also to demonstrate that the desired value of 100k, will not arrive.
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Hi @crypto.piotr
It makes a lot of sense what you express, especially considering that much of the btc is in Wallet Frias, certainly, not having so many BTC in the market, it is easier that a figure like 1500BTC can affect faster the market. It is a matter of active capitalization at the time of sale.
Whoever did that, will surely be able to make a big profit by buying back more BTC at a price well below the one he sold them for.
But, it is almost impossible, in my opinion, for BTC to reach 100K this year. It could eventually happen, but it's not there. I don't think so.
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Everyone should really see and study it. all things everyone should do carefully and I think new things will happen in the crypto world. how do i get the vote here @crypto.piort
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For example, a whale may dump bitcoins on the market after going short on the futures market. Pushing prompt price down, and earning big on those shorts. And later, perhaps the opposite - going long in futures or options markets and buying bitcoins to push price up.
This is all possible with enough money but the market is very volatile itself. So it may go on rollercoaster also without conspiracy.
Bitcoin is important, but "altcoins" are more interesting for me, many players are invested there. I should use more blockchains, their services to see what is happening there. Going to try...
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Thanks for dropping by and sharing your feedback with me @deathcross
That's another great explanation. One that I failed to think about. Thanks for bringing it up.
Stay safe buddy,
Cheers, Piotr
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This that you share with us is the scenario of a premeditated action and you plan very well with the sale of 1500 BTC, this will create a scenario of psychological and consequently financial instability where there will not be much confidence in future immediate investments so it is difficult in what remains next year I can raise the BTC to 100K usd
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Hello friend @crypto.piotr
I will be very brief and explicit to answer you about whether bitcoin would reach $100k this year.
In my opinion I think bitcoin will not reach that price for this year, as what is left are a few days for the year to end.
The price of bitcoin is like when you are fat, that is when a person is overweight it is difficult to lose weight, you can do physical exercise, make a balanced diet, however to lose weight takes time and is a complicated process.
However, when we have already reduced and lost weight then for any carelessness in our diet we quickly reach the weight we had or we can even double the weight we had.
At this time what cost so much for bitcoin to rise in price out of nowhere lowered its price and made it difficult that in a short period of price may rise, and it is easier to liquidate and sell our holdings of cryptocurrencies than to buy cryptocurrencies, which is why I admire investors because they get rid of their liquidity to invest, but it is difficult because sooner or later we need liquidity and it is easier to sell than to buy.
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Dear @carlos84
I truly appreciate your awesome comment buddy.
Clearly we have the same view on future of BTC price.
buhaha. I love that comparison. Brilliant one! :D
ps.
I wonder when people will learn not to overleverage themselfs. It does look like leverage is almost like some sort of "drug" and "addiction" to many investors out there.
Wouldn't you agree on that?
Stay safe and enjoy upcoming weekend :)
Yours, Piotr
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Hi @crypto.piotr
I am not an expert in crypto but I don't see reaching bitcoin 100k USD this month. I may go up but I don't think it will be able to make it 100k. Although it was expected to happen however I do expect that in 2022 we should be able to see BTC at 80k USD approx. Thanks.
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I don't see BTC reaching 100k before EOY. However, I do see signs of a flash dump and pump that begins BTC's climb before EOY. Regulations open eyes. Large power brokers cheat with the best of them. Regulations have for a while been the limiting factor cited by many big player. They want clarity and not expensive legal battles. Reach 100k within a regulatory framework is nothing. Thus, 100k before EOY is nothing. Still, Power brokers will not want to blow the secret this early and will likely make a bit of a show of reaching 100k. Once government (major ones) feel comfortable talking about BTC, then we'll all know how much it and the global financial system is worth.
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We're clearly on the same page @machnbirdsparo
Part of me feels that it's better for crypto space to stay below 100k. Less hostile mass media attention.
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Dear @crypto.piotr I feel this is clearly a case of manipulating the market in order to make profits.
Sell High and in such big quantity so as to trigger stop losses and trigger a fall.
Even though the BTC dominance has come to the 40+ percent range still it has quite an impact on the entire crypto space.
When BTC falls the alt coins fall harder.
So when some one manipulates the market there is plenty of scope to play the BTC , ETH as well is the altcoin market for plenty of profits.
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Thanks for dropping by and sharing your feedback with me @thetimetravelerz
Indeed. That's so very true. Altcoins tend to bleed out so fast whenever BTC is dropping. I always consider it a great opportunity to buy more :)
Stay safe buddy,
Cheers, Piotr
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Greetings @crypto.piotr.
I am not very good in this world of crypto investments but I can appreciate your article which leads us to see a different world where we all can have connection with this new world especially BTC which I believe will not reach 100k this year.
Thank you for continuing to educate us in the field of cryptocurrencies and keep us always on our toes.
Merry Christmas and Happy New Year
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Thank you @sandracarrascal for taking the time to read this post and for sharing your feedback.
I hope you found it valuable.
Kiss to Diana :*
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I must say that I like the points you've made in this post - amazing. I very much agree with you that the dump of 1500BTC within just One minute is the root cause of the whole chaos in the markets. Currently, in my view - I don't think BTC can reach a 100k USD this year anymore. It will take some time for the players in the market to recover from this shock and for prices to break the ATH in my view.
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Hi, @crypto.piotr, Personally, I do not think that Bitcoin will reach 100k this year but I do believe that the bull market cycle is up, despite the fact that the cycle ended on December 4, this period is extended (I hope so) and there are clear signs that it may continue. until mid-2022. Many large investors have kept their capital in bitcoin. And the president of Salvador (nayik Bukele) recently bought 150 BTC. I think this has caused a terrible panic in many investors and the strategy of those who manipulate the market is for these investors to sell. You have to be patient.
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Hi @josstovar7
Thanks for dropping by and sharing your feedback.
We're clearly on the same page. Im actually glad that BTC didn't reach 100k so fast. I would rather get there slowly and steadily.
Stay safe buddy,
Cheers, Piotr
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Greetings Peter,
I think yeah dream is over because it can not reach 100k (almost double in price) in just 22 days,
It's very unlikely to reach there
The current price of bitcoin at this moment is 50,468 USD,
We have seen many ups and downs in bitcoin this month
and after analyzing the data I don't think it is possible,
*It may happen that in last week price may hike up to 60-70k
max, I don't think it will be more than that,
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Thanks @winy for dropping by and sharing your thoughts with me
Take care buddy :)
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Hi @crypto.piotr,
I think you might have a point here. There is a common method called the Wyckoff method where this is the beginning of the accumulation cycle for the whales. So you defintely made sense there.
On the other hand I might think that this person maybe just wanted to offset his of hers tax payments with a "BTC loss" (he sold his BTC for a loss). I dont know, just throwing some thoughts in the room :D
I also dont think that BTC will hit 100k in this year but I am more than certain that it will pass this mark and beyond in the midterm future. At least when the next BTC halfing will happen.
Very enjoyed reading this article!
Cheers
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Dear @ga38jem
I truly appreciate your awesome comment buddy.
However, I don't see any connection between this "manufactured" flash crash and Wyckoff method. What we've witnessed is most likely just a massive market manipulation.
Surely, Wyckoff method may play out sometime in the future. But it's to early to say if we would see that pattern.
Stay safe and enjoy upcoming weekend :)
Yours, Piotr
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Hello @crypto.piotr
I agree with you, in relation to the fact that the BTC will not reach 100K in the remainder of the year.
Wished regards
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Interesting information shared thanks much, 1500BTC that is huge some in USD i guess its enough to make a big reflection on market, an explicit post shared thanks.
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Hi @crypto.piotr
Interesting topic as the crypto community is talking about this topic these days. We were expecting that BTC may hit 100k $ this year-end which seems very difficult to be honest because in just 3 weeks bitcoin price can't go from 50k to 100k.
I expect if the bitcin price starts growing then also it will not cross 70k this year however I easily expect its price to be 85k USD next year in 2022.
Microstrategy has bought BTC again in this dip and it shows that whales are bullish on bitcoin and they are accumulating with each dump in the market. Thanks.
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Thanks for dropping by and sharing your feedback with me @alokkumar121
Indeed. Many people epected that $100k level to be reached. However, I would be surprissed if we would even get close to 80k before end of this year. I would rather expect side-movement for upcoming weeks, without any real break-out (either upside or downsite).
I wasn't aware of that. Thanks for sharing this info.
Stay safe buddy,
Cheers, Piotr
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You are right. FUDs can't dump the market to such extent. It is due to that large whale who sold 1500 BTC, causing billions dollars to liquidate.
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Another one informative article .
Sir I know btc can't hit 100k in this year price is still in raging and 1/4 week passed.
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Hi, this is just to let you know that we will sell our coins in the next months and thus please expect us to undelegate partly or full without further notice.
Cheers
(PS: your Telegram and LinkedIn are not in use?)
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That's not the best news @cektop
However, thanks for letting me know in advance.
ps. I've checked my telegram and linkedin and I didn't receive any message from you. Did you try to contact me?
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Contacted you on both channels, with invitation on LinkedIn, but with different names. Don't want to put my name here public.
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Somehow I've missed this comment of yours @cektop
I already messaged you via Linkedin.
thx
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@crypto.piotr Hello brother. Long time no see I'm so glad you're still posting quality content as usual. Sorry for being away for years was struggling I'm sure as everyone has struggled in these covid times and the sad news of a new war between Ukraine and Russia.
I'm just starting to get my life back together. Let's hope for a better world in the future. Anyway really nice to see your post. Take care and keep safe always
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Hi @ragnarhewins90
It's great to hear from you. Glad to know you're still around.
Luckily you are far away from this conflict. Are you still based in Sabah? (correct me if I remember wrongly)
If you ever like to keep in touch, then join PRoject.hope discord and DM me (@crypto.piotr). Link here: ragnarhewins90
Cheers, Piotr
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I moved to the UAE recently and yes I'm away from the conflict.
All right will keep in touch.😀
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@tipu curate 3
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A really nice post indeed. I agree with you that it will be very difficult for BTC to reach 100kusd this year. Perhaps within the first quarter of next year we should be expecting that to happen. It was a nice read!
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very good i love crypto how can i get it
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