Role of Crypto/Cybercurrencies in the PTB's loss of control?

mbww

Jedi
China FUD is the equivalent of China virus for crypto.
Just as Covid was used as pretext for the global reset, crypto ban fears and volatility is used to clear the stage for accumulation, diversification and mainstream adoption.

It's always hard to see cope with volatility and loss if you're in the trading game, but remember also that corrections are needed for healthy growth as in leverage be gone, and don't loose sight of the long-term goal.

It's difficult to predict and pick a bottom in spite of any TA or fundamentals or what experts say, I think it's more to do with a collective perception - however I don't think it's going to drop to 20k, 30k is a solid level for BTC to hover around and stage a rebound.
 

bjorn

The Living Force
FOTCM Member
There's a good chance this is China pulling a FUD so they can buy up more BTC at a lower price.

Maybe China has their reasons they are not sharing. I would like to hear it. But when they do ever speak openly? Very rarely.

But China is just short-term. It are these dumb psychopaths who will mean the end for us. Now they are planning to isolate China blaming them for COVID. How are you going to isolate the factory of the world? If the lockdowns weren't wrecking us enough already. I tell you, without these mush for brains psychos ruining the party again and again. It would be so easy to make money. Whether in stocks or crypto.

however I don't think it's going to drop to 20k, 30k is a solid level for BTC to hover around and stage a rebound.

Or this is just another Fake bull-run. I don’t know. The U in FUD stands for Uncertainty. Lots of that still doing its rounds. But let’s hope you are right.

I remember how last year the community was celebrating with Vegeta memes because it got over 9000. Now there is panic because it’s testing 30K. So far plenty of people are still in the green.
 
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bjorn

The Living Force
FOTCM Member
Gotta be honest, I thought if we broke 30K it was going to go straight down in a massive capitulation. Pleasantly surprised by the bounce back. It wasn’t a Fake-Out at all. If we can hold around these levels through the China dump, I think we’re in a good shape.
 

bjorn

The Living Force
FOTCM Member
Maybe China has their reasons they are not sharing. I would like to hear it. But when they do ever speak openly? Very rarely.

Did they figure out something about Bitcoin that they are not telling?

I think it's less about Bitcoin and more the Govt and to be able to keep tabs on where people's money is. Perhaps that's just all there is to the story.
 

Mike

The Living Force
FOTCM Member
Did they figure out something about Bitcoin that they are not telling?

I think it's less about Bitcoin and more the Govt and to be able to keep tabs on where people's money is. Perhaps that's just all there is to the story.
Hi bjorn,

It could have something to do with their plans for the Chinese CBDC. Maybe things are not going as they would like with its early attempts at introduction, as is indicated by this article - China’s Much-Hyped Digital Yuan Fails to Impress Early Users

BTC and crypto would certainly be a competitor to any CBDC. That could be the main reason for the move by China against BTC mining.

I don't really like this excerpt as a whole, since there are things that are not fully factually, such as Bitcoin is not anonymous. It is only semi-anonymous. But it raises some points worth thinking about, since it may reflect the government or mainstream take on the subject.


Why does China want to Ban Bitcoin?

The reason is simple. China has no control over Bitcoin as its decentralized nature provides the currency bearer with anonymity. This has raised widespread concern amongst the communist party as it means to trade in Bitcoin can hide money laundering and sponsor criminal activities against the state. If looking for bitcoin trading then you can visit YuanPay Group.

Not just a way for countering the growth of Bitcoin, the Digital Yuan brings many advantages to the Chinese government instead of issuing its fiat currency, as hard cash is difficult to track and can be counterfeited. The digital nature of the currency enables the government to follow money trails and prevent financial criminals’ counterfeiting efforts. But, does this not give the Chinese government undue rights to monitor all financial transactions? Yes, but the government has assured bearers’ anonymity will remain intact as long as they don’t commit any financial crimes.

A large population of China has already adopted cashless payment options like WeChat pay and Alipay. The digital Yuan can integrate with these pre-existing systems, leading to mass adoption by the public quickly. It even encourages China’s rural population, which has limited access to banking services, to participate in the economy as Digital currencies are much more versatile. Ethereum’s decentralized applications (DAPPs) are a testament to this fact, providing banking services on its blockchain to users who don’t even have bank accounts.

Similarly, on an international level, China aims to make the Yuan the main currency of trade due to uncertainties surrounding the US dollar’s stability, the current preferred currency of exchange at the international scale. China’s introduction of the Digital Yuan aims to attract many international traders due to its ease of use, time-saving, and no third-party currency requirements.
 

psychegram

The Living Force
Hi bjorn,

It could have something to do with their plans for the Chinese CBDC. Maybe things are not going as they would like with its early attempts at introduction, as is indicated by this article - China’s Much-Hyped Digital Yuan Fails to Impress Early Users

BTC and crypto would certainly be a competitor to any CBDC. That could be the main reason for the move by China against BTC mining.

I don't really like this excerpt as a whole, since there are things that are not fully factually, such as Bitcoin is not anonymous. It is only semi-anonymous. But it raises some points worth thinking about, since it may reflect the government or mainstream take on the subject.


That's a reasonable guess. The central bankers don't want competition for their slave currencies. Being able to shut down the ability of the livestock to transact is a core part of their prison grid.
 

bjorn

The Living Force
FOTCM Member
That's a reasonable guess. The central bankers don't want competition for their slave currencies. Being able to shut down the ability of the livestock to transact is a core part of their prison grid.

On top of that. Digital currencies mean that the Govt will have direct control over your money. Not the banks. The US, Europe, and other countries are also working to implement digital currencies of their own.
 

bjorn

The Living Force
FOTCM Member
You wanna see clear evidence of market manipulation?

Watch this.


Look at the rising short positions. Someone does not want the price above 35k for now. It is clearly market manipulation in order to keep some investors with shaking knees out of the market and buy their coins.

It won't stop until the short-sellers stop getting rewarded for pointlessly crashing the market.

See how easy this market can be manipulated?
 

Mike

The Living Force
FOTCM Member
See how easy this market can be manipulated?

I think that is true to some extent, but I think the crypto markets are closer to being a 'physical' market as compared to pretty much any other type of market in the world. What I mean by this is that to some extent actual coins and buying and selling of them does have an impact, instead of the naked, unlimited short selling you can see that bombs the gold and silver market and keeps it under control.

I've seen a number of reports that 'old', big, and strong hands are really accumulating a lot at these levels. This may be behind a subscription wall, but it details some things along these lines. Strong Hands Are Aggressively Accumulating Bitcoin

If it is behind a subscription wall, then this is the guy that wrote it and he provides the info in tweets that he used to write the article.


As prices decrease, are crashed down, and are held down by the futures market, etc, I think the 'physical' market goes crazy. I have also heard reports that the the Over the Counter (OTC) crypto dealers have had huge business and large accumulations going through them with crypto's fall. These are the people that think crypto has significant long term prospects (And I'd think that this might include everyone from retail investors to the biggest names in industry, and even governments and central banks). In short I think that will underpin the market, from the influence of the futures markets. And the people that want to accumulate for the long term are doing so and enjoying this time. It could be also that those spiking the shorts and keeping the price here and down overall are buying as many of the the 'physical' coins via OTC as they can.
 

bjorn

The Living Force
FOTCM Member
It could be also that those spiking the shorts and keeping the price here and down overall are buying as many of the the 'physical' coins via OTC as they can.

It usually happens every last Friday of the month. They have turned Bitcoin into a casino. Anyhow, it must also be in their interest to let bitcoin grow. But the pillaging takes its toll. Not sure if the 30K support line is going to hold over the weekend when the volume is usually pretty low.
 
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bjorn

The Living Force
FOTCM Member
It usually happens every last Friday of the month. They have turned Bitcoin into a casino.

Bit of an exaggeration. Every last Friday of the month they turn Bitcoin into a casino.

I'm not touching anything crypto-related this weekend. The waters are infested with Whales moving large amounts around. Never seen it like this before.
 

seek10

The Living Force
FOTCM Member
Bit of an exaggeration. Every last Friday of the month they turn Bitcoin into a casino.

I'm not touching anything crypto-related this weekend. The waters are infested with Whales moving large amounts around. Never seen it like this before.
Unfortunately, every step one makes, there comes a bigger fish to swallow it, while small investors hooked to their investment. Fiat money is backed by ignorance of the people. VISA credit card system is based on the prior knowledge and setting up the infrastructure in the early stages by its PTB minions. For every thing, there are laws for ethical enforcement. But, how many big fishes follow the rules and the system is rigged from the beginning. Even with crypto, it can be rigged with the replacement of personnel that enforces these systems and ponerizing the investors.
 

axj

The Living Force
This is not financial advice, but right now and in the next week or two is an excellent time to buy cryptocurrencies.

They have retraced a lot since May, most are down 50-80%. I am currently focused a lot on investing and from the data I have it is very likely that cryptocurrencies will increase a lot within the next 3-4 months, probably starting in late August.

My favorites among the larger coins:
Ethereum (ETH), Cardano (ADA), Polkadot (DOT), Dogecoin (DOGE)

Mid-sized coins with more potential for multiples:
Theta (THETA), Polygon (MATIC), Solana (SOL), Stellar (XLM), VeChain (VET)

Smaller, more volatile coins with much more upward potential:
Shiba (SHIB), Digibyte (DGB), Theta Fuel (TFUEL), Reddcoin (RDD)
 

Scottie

Administrator
Administrator
Moderator
FOTCM Member
They have retraced a lot since May, most are down 50-80%. I am currently focused a lot on investing and from the data I have it is very likely that cryptocurrencies will increase a lot within the next 3-4 months, probably starting in late August.

Today I received several crypto newsletters, all of which are pushing people to buy - big time.
This is what I think will happen:
  1. Economic troubles increase
  2. Crypto will again shoot up
  3. Oops, the economy is 'broken'...
  4. Crypto will climb even more
  5. Oops! Cryptos are 'broken' - massive plunge (very much like Dotcom bubble bursting)
  6. Gov't steps in with CBDCs or some 'quasi-crypto 2.0' to Save the Day®
That's a hunch, but keep in mind that it was my hunch for awhile now and it's quite strong. As I have learned more and more about cryptos, the hunch has been strengthened - not weakened. Most of the time, when I have a hunch like this, I ignore it at my peril. Well, whatever, right? I could be wrong.

Plus, Other Events May Intervene, but given how everything else is going these days, I really don't see cryptos as they exist today 'taking over' or defeating centrally-controlled fiat currencies.

Cryptos are a game, like most things in this world.

Things to be careful of:
  1. Can you get your money out?
    Do not assume that you won't need your fiat account. IMO it's likely that you will, even if fiat changes shape over time - especially if fiat changes...
  2. Beware soft wallets
    If they're hacked, you lose everything
  3. Beware hardware wallets
    Depending on how you use them, you may get screwed. For example, using a Trezor with Exodus is a bad idea since Exodus imposes trading limits and often-ridiculous transaction fees. Using ANY exchange is risky. Many appear to be legit and have lovely fancy-sounding names, but have only been around for a few years. They aren't in it to make you rich...
  4. Don't assume everything will become crypto-ified
    That's what you're supposed to think, so don't.
  5. Hysteria
    If you're one of the people talking non-stop about how cryptos will fix everything and be super-awesome, consider that you drank the KoolAid - or at least act as if you have, and make sure you cover your rear end.
  6. Basic needs come first
    In the event of Total Chaos, you die without food, water, and shelter. Imagine a scenario where you are a 'Bitcoin Billionaire' on digital paper, but you're slowly starving or freezing to death... Oops! Crazier things have happened.
FWIW. I will be extremely happy (and wealthier) if I'm wrong, but alas...
 
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