Markets are at a standstill today. While Bitcoin remains calm some alt coins start to slip, increasing Bitcoins dominance to now over 47 and a half percent. 24hr volume still decent, sentiment and technical indicators for the most part still bullish for the present.
Ethereum’s volume has now corrected itself. EXX now has it’s 1 billion 24hr volume removed from calculation. I wonder why.
Now while I say that for the present sentiment is quite positive for the price of Bitcoin, more and more people are worrying about continuing to test that $5800, $6000 resistance line. The idea is the more times you test it, the more likely you are to fall through it.
This for the most part is absolutely correct, and it would be concerning to test it yet again. But it just makes me wonder how much the price of Bitcoin is manipulated. It’s alright trying to cross over knowledge of the stock markets to Bitcoins price, but this is totally unregulated and there are massive players when it comes to Bitcoin. Bitmain comes to mind specifically, the Chinese mining giants who made an estimated $3 to $4 billion dollars profit in 2017. http://fortune.com/2018/02/24/bitcoin-mining-bitmain-profits/
Or Tether, and it’s ever growing market cap, which is actually much higher than what we can see because of margin trading.
How about exchanges putting fake volume orders to give people false buy signals?
In either case, I feel I am in one of those situations Socrates described as, the beginning of wisdom was knowing that you knew nothing. I know enough to know I don’t know enough. I hope that makes sense. For that reason, I take profits where necessary, but I am holding my Bitcoin because I have no idea what’s going to happen.
In alt coin news the Binance community vote for the next coin to be listed ended today, which is a pretty decent money maker for Binance seeing as you have to pay to be able to vote. Do they not make enough? It reminds me of microtransactions in games. You can’t really blame game developers for wanting more money, if people are giving them loads of money using it. You don’t like ICOs? Well they keep raising millions anyway.
https://www.binance.com/vote.html
Mithril won, and by a large margin. Is it odd then that Mithril is the biggest 24hr loser in the top 100 then? Not at all. Most people are here buying alt coins for a quick buck. So, they dump on the big news. And that’s absolutely fair enough seeing how you can’t do or buy a damn thing with over 90% of alt coins. 95%? 99.9??
And lastly Pantera is forecasting Bitcoin to hit $67,500 by end of year 2019. Now I read some paper or other giving price forecasts everyday, it’s somewhat of a joke at this point. This one is no different. “Pantera is a prolific investor in the industry.” Responsible for https://hacked.com/how-pantera-capital-engineered-a-10000-return-investing-in-cryptocurrency/ Amazing.
Except they bought Bitcoin back in 2013, that’s how. https://www.panteracapital.com/ They are shilling their coins to you. We don’t think it’s shilling because it’s on a macro level, but it is.
Don’t take this from them. If you’re holding any Bitcoin, you go out there and tell people $1million by end of year 2019 confirmed. How? Point to the gold market cap, and say Bitcoin is going to demolish it. That’s how. If you’re going to shill, at least do it right Pantera. $67k? Pathetic.