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Epic Pennant on BTC Chart


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I still believe that this recent crash could be related to GME/AMC etc, there is a lot of activity in that arena, not least an increase on margin collateral requirements for Hedge Funds etc that kicked in at 9am (EDT) on May 19th and look at the btc chart...strange coincidence on the timing...were they selling to provide liquidity to meet the new obligations ?

1555090104_btc5-19-21.thumb.png.ed3b27d12c71349a0d13f05913dca656.png

This is a good summary of events that is well worth a read :

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9 hours ago, youngdude said:

I personally don't have much gripe with the contents from xrp-nuke (to each his own), but those are pretty tilting lol.

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38 minutes ago, jMusic said:

I still believe that this recent crash could be related to GME/AMC etc, there is a lot of activity in that arena, not least an increase on margin collateral requirements for Hedge Funds etc that kicked in at 9am (EDT) on May 19th and look at the btc chart...strange coincidence on the timing...were they selling to provide liquidity to meet the new obligations ?

1555090104_btc5-19-21.thumb.png.ed3b27d12c71349a0d13f05913dca656.png

This is a good summary of events that is well worth a read :

Feck me.

Tl:Dr eli5?

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The big money investmentinstitutions have showed their hands. They said they were going to get in an they are in. All these ETF's, high wealth clients, hedge funds, mutual funds need BTC and the fact is that it wasn't available. JPM, Goldman Sachs etc know the scarcity and understand the built-in inflationary mechanisms. There's a lot of money to be made if you can be a BTC over-the-counter source. There will be very large premiums for those BTC's along with the price appreciation. JPM, GS arent going to buy at the top and they already know it wont be available at the top. They bought enough to turn around and sell into the market to shake the weak hands out that have 5x and still 3x profits. It would take a miniscule amount of money (in their world) to make this happen because the greed index was off the charts. They simply started the implosion and started buying right into it. They willbe the "institutional heroes with dimon hands". The market celebrated institutional investors as "stabilizers"all the way up to 65k and they just got their first taste of how they play. And, I seriously doubt they are done filling their bags. I suspect they will try shake out the retail speculators who also added down here before they allow another run to the top. We'll call it a bear market, but I think its institutional accumulation now.

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21 minutes ago, xrp-pat said:

Feck me.

Tl:Dr eli5?

There is a tremendous amount of DD on r/Superstonk, here's a summary posted a few hours back that will serve as a primer for you. Obviously do your own research too as there is just as much FUD there as there is in crypto !

https://www.reddit.com/r/Superstonk/comments/njln8o/draft_i_have_done_my_best_to_summarize_the_gme/

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5 hours ago, BarnBuilder said:

The big money investmentinstitutions have showed their hands. They said they were going to get in an they are in. All these ETF's, high wealth clients, hedge funds, mutual funds need BTC and the fact is that it wasn't available. JPM, Goldman Sachs etc know the scarcity and understand the built-in inflationary mechanisms. There's a lot of money to be made if you can be a BTC over-the-counter source. There will be very large premiums for those BTC's along with the price appreciation. JPM, GS arent going to buy at the top and they already know it wont be available at the top. They bought enough to turn around and sell into the market to shake the weak hands out that have 5x and still 3x profits. It would take a miniscule amount of money (in their world) to make this happen because the greed index was off the charts. They simply started the implosion and started buying right into it. They willbe the "institutional heroes with dimon hands". The market celebrated institutional investors as "stabilizers"all the way up to 65k and they just got their first taste of how they play. And, I seriously doubt they are done filling their bags. I suspect they will try shake out the retail speculators who also added down here before they allow another run to the top. We'll call it a bear market, but I think its institutional accumulation now.

At the end of the day retail investors will give upmost of their Bitcoin. Institutions are going to slowly soak up all of the Bitcoin with each passing year. Bitcoin will hit $1 million dollars eventually but by that time most retailers will be shaken out. Institutions are buying Bitcoin because they are ready to play the long game. And when I say long, I mean 10-20 years minimum.

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6 hours ago, Eric123 said:

For those of you that took advantage of the sale yesterday, good job.

I drew new support and resistance lines - the crash took out all the previous existing ones.

Exciting times.

5 24 2021.png

We're crashing my friend, this is very early bear market.

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21 minutes ago, Xrpdude said:

We're crashing my friend, this is very early bear market.

To what percent are you sure about this? Not to be a smart ass, but I would assume you have sold that percentage of your xrp stack?

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8 minutes ago, RandyMarsh said:

To what percent are you sure about this? Not to be a smart ass, but I would assume you have sold that percentage of your xrp stack?

I'm 70 % certain the run of bad news (Elon / China) has triggered the bear market.

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40 minutes ago, Xrpdude said:

We're crashing my friend, this is very early bear market.

I dont think it is, looks like it just a severe shake down and the bulls are just resting

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