The final leg of yesterday’s strategy is working itself out today with choice buys at 51,300 and 53,700. All other buying levels were successfully negotiated by Bitcoin’s bounce back move.
Remember at pullbacks the logical money is waiting since there is no negating the value of btc as store of value + daily currency. So today’s news regarding paypal’s competitor acquiring 170m in BTC is not the reason for the upward move but the consequence of yesterday’s dip.
When news come out of whales selling or moving cash unless you are an idiot you should realize powers to be want to acquire btc at a discount.
Scared money runs, big trading money shorts, price dips, power money buys, bit trading money closes short positions, news go public, scared money runs back, price goes up somewhat in that order. BTW scared money always gets f….
All this as “gurus” etall and others from the trading industry scramble to stay “important” and useful while still trying to figure out ORGANIC BITCOIN and its Epigenetics of evolution. To deny bitcoin is organic is to deny the sun will shine every freaking day even on cloudy days. Just plain stupid.
So at that its to no avail of course the trials of the foolish to use old tech tools to analyze a young organic hybrid bitcoin. These fools are dead and just do not know it yet. As for the barons of gold they are of course long btc and a bunch of altcoins, investing silently in btc mining and logically officially blasting away at bitcoin. I.E Gold Bug Peter Schiff whose son obviously is long heavily on btc and is no fool to good invesment opportunities.
Important: News services do not make money if the news are not flashy, bloody, fearful or all in between. Old style traders loose their jobs if their techniques are useless so they must approach btc with the same bs they use with all other trading things. Problem is it just does not work with btc. So fear mongering is their thing. BTC is the new norm, gold will loose 30-40% as the new generations X and Alpha grow aversed to wearing anything gold. Jewelry comprises 35-60% of the gold production at any given period in history thus if we work we the lowest avg we are looking at 900-1000 for gold. All losers hands on deck as desperation settles in for service providers around all economical industries pre bitcoin era that now try to either run opposite discourse or try to make themselves useful in the new era.
Gold barons will remain long BTC of course. They know better. No one gets to be a baron of anything by being foolish.
Its all good on the btc front as Marlon Brando could have said : It is 11:59 pm and all is quiet on the water front. Quiet for BTC means volatility and speculation and this is good. BTC true value lies at its core solid personality and what it represents : The new store of value for all and new currency as it slowly creeps up on old out of style fiat.! The flashiness either positive or negative around its persona is the volatility and that is good free marketing globally.
Its true value ? Current market + or – 20%. Add to that normal speculatory fluctuations of + or – 5% and you know what you are dealing with.
Just do not forget: Big money is (quietly and sometimes not ) buying to hold. This means btc is here for the long haul. And by that I mean until Elon Musk declares it MARS CURRENCY. But thats another chapter all together.
Lt. Richard Villela CFO CEO and all the other important stuff. Haha ???