This is fascinating and shows why people are undereducated. “The Elon Musk Risk” – if you have been in Bitcoin from the very beginning you have seen the “Asia Miner Risc”, “The Roger Ver Risk”, “The John McAffee Risk”, “The JP MORGAN Risk” ,…what a long list Wow Bitcoin must be a speculative coin whatever !
REGARDING those times around 465 and 4000 Dollar then 15000 Dollar and later on 20,000 Dollar we had a “Price correction risk” and still today people dismiss what really happened. Everyone cries for Future Tradings. Ok here it is CMOBE the biggest one. Oh of course it is not enough so we need a 1:1 trade in Bitcoin and – here it comes – Starbuck and the founder of the New York Stock Exchange opened a Future Trade.
Yes and of course we need Bitcoin pegged to a Token and used as a stable momentum…
Wow and then finally the markets get the first Canadian ETF. Guess what … Nothing of them is regulated in a way stock markets are. So price predictions bets and market manipulation can go on. And this is not a problem of Elon Musk. Since there are trades allowed betting on the fall of Bitcoin it is the same what happened in 2008 when JP Morgen bet on securities in real estate and lost all the money in a big short.
And now, investors cry for more security. Yes I am laughing. It is like investors lost the money on Games stop shares.Normal people used the financial system and then they toke the shares away from the trades.
I call this legal market manipulation. And why not dump 10,000 of Bitcoins into exchanges. Create a fear moment for undereducated by starting a discussion about energy waste which is the silliest argue ever in human history and put on top the Doge Coin experiment. Wow and suddenly some friends take it as a gift and buy Bitcoin on a sale pressure.
By the way if you studied the Bitcoin thing you should have known that the value/BTC change is on a bottom of 35,000 Dollar. This is pure mathematic not speculation. I forecast it in many posts weeks ago without having any idea of a candle or whatever the specific words in a trading room. This logical.
It is the same logic that AltCoin Season is only coming of diversification by a fear moment ant than must consolidate to Bitcoin price. Only if you can’t see that there is no utility behind the white paper for the coin, you believe AltCoins have there own life.
Vitalik Beterin has shown the world what really is an earth quake. Making a gift about 6 billion Dollar in DeFi tokens to a charity where half of them has pegged to wBTC and renBTC and then investors sold their wBTC and ranBTC which flooded the market with new Bitcoins. Exactly the same time Elon Musk made his stats. And exactly after an oversold market start to recover Micro Strategy bought 15 Million of Bitcoins and Ark Invest 125 Million of Bitcoin and other institutional follow. The same crying for more stability. In an oversized market of trades connected to Bitcoin and shorts a bet on a lower prize is utilized at the right moment.
And you see Bitcoin is recovering.
Limitation is the key successor. There is no bearish market or something like that. We allowed speculations – that’s the price.
Written by : Prof. (Dr.) h. c. Joerg Molt