1/ Important macro outlook thread on #Bitcoin 2020 in retrospect, & going forward in 2021 and beyond.
The biggest xfer of $BTC into few institutional hands occurred in 2020, a time of economic uncertainty, mostly in the March dump & at expected $20k sell wall by whales.
The biggest xfer of $BTC into few institutional hands occurred in 2020, a time of economic uncertainty, mostly in the March dump & at expected $20k sell wall by whales.
2/ It seems as if the orchestrated takedown of Bitmex, the primary volume leader + market manipulator, finally catalyzed the institutional confidence to push past the prior $BTC ATH of 20k from 2017.
3/ Lack of an expected fade when $BTC 20k was broken testifies to this, almost strategically calculated knowing market will have insufficient sell pressure vs institutional buy support RR now that Arthur is out of the picture.
4/ A handful of regulated institutions like Grayscale & Microstrategy now control the majority of $BTC supply. Manipulation/volatility will decline. An institutional price floor is being set when volatility from interwhale trading is falling.
5/ They will horde not primarily for the spot value of $BTC for the implicit long term value -- building financial products, derivatives, & businesses on top of #Bitcoin. An ETF is probably inevitable now. There are a two takeaways from this IMO...
6/6
1. $BTC whales are likely realizing they F'd up & are buying back higher. Buying HTF dips are critical now.
2. Crypto purists will seek better ROI in the purest clone of #Bitcoin that's withstood test of time with 2nd mover advantage: #Litecoin.
I'm diversifying into $LTC.
1. $BTC whales are likely realizing they F'd up & are buying back higher. Buying HTF dips are critical now.
2. Crypto purists will seek better ROI in the purest clone of #Bitcoin that's withstood test of time with 2nd mover advantage: #Litecoin.
I'm diversifying into $LTC.
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