Official Bitcoin Thread

Whales are selling.

MT Gox trustee sold 362 million dollar worth of BTC between december and february

Rumors has it that a japanese whale sold $400 million dollars worth of BTC today.
 
tkthafm said:
Man, every time we get some upward momentum we have FUD bombs dropped on us left and right :lol:

Still team #HODL

Usually spring is a good time for crypto, let's see...
Click to expand...


Smdh. I hope you're right.
Cant seem to catch an upward momentum to the moom.
 
Found this...

MARKET DUMP - WHY?

The cryptosphere is, not the least of which, tumultuous, constantly swaying to positive and negative sentiment. Today has been met with a series of unfortunate events, yet we view the following as common developmental features of the space. This stuff comes with the territory of investing in an emerging asset class.

News from Japan

Today, Japan announced it would take action against cryptocurrency exchanges that currently do not comply with the Financial Service Agency’s customer protection and anti-money laundering measures. There is a chance that the FSA will indefinitely shut several exchanges; this potential punitive action is likely to ensure exchanges are granted time to create the proper procedures to protect consumers. The exchanges that are to be targeted remains unknown; however, it is ostensible this news has shaken investors, contributing to the market’s sharp decline.

Read more here: https://goo.gl/E2MnCr

SEC Press Release

The SEC just released a statement regarding potentially unlawful online digital currency trading platforms. Since exchanges have become a common place to trade and sell ICO tokens, and other coins that are considered securities under the federal securities laws, then the exchange must comply with the SEC as a national securities exchange to be exempt from registration. This statement falls in line with the remarks the SEC made at the Virtual Currencies Hearing in January. The statement reaffirms that if investors want protection from the asset trading they are partaking in, they must use exchanges that are registered with the SEC. The SEC worries that many consumers believe the exchanges they use are SEC compliant, but, the truth of the matter is, few, if any, virtual currency trading platforms are SEC compliant, thereby subjecting users to potentially unlawful acts.

This clarification is necessary for investors. We believe this is just an edifying reminder from the SEC that aims to create more vigilant, cognizant consumers. The SEC is doing their due diligence by alerting participators in these markets that they may be interacting with entities that are not SEC regulated. They are not saying that these companies have to be regulated to continue operations.

The press release can be found here: https://goo.gl/rCaeT3

Whale sells $400mm in BTC!?

Not exactly...Mt. Gox (yes, that Mt. Gox) sold around $405 million worth of Bitcoin and Bitcoin Cash over the course of the past two months. The details of the sale were published today, March 7th, by trustee Nobuaki Kobayshi. This didn't just happen, it's been ongoing, but the details of the sale were just published today: https://goo.gl/8sWjLo

⚠️Binance Hacked!?⚠️

No. However, there were users that had their account compromised and it looks to be due to faulty API integrations that had security volunerabilities. Binance wasn't hacked, but some users were. An important reminder to be very cautious using ANY tools that use API to connect to your exchange accounts, and not to keep the majority of your assets on an exchange at all. The official statement from the Binance telegram is below.

"We are investigating reports of some users having issues with their funds. Our team is aware and investigating the issue as we speak. Please remain patient and we will provide an update as quickly as possible."

All of this happening on the same morning has caused a huge stir and a lot of panic. Hopefully we've brought clarity to some of the news.

MANY outlets are misreporting the SEC news and implying that the $400mm sell off happened TODAY as well. This is, as usual, terrible reporting. But we got your back.
 
Typical yellow journalism lol. The sell off from the top makes sense though. Similar liquidation to what nano experienced.
 
CD6243CB-6D99-4BF0-9F2C-D0331121A4B3.gif
 
johnnyredstorm said:
Out of ltc gonna add to man. Just don’t see the upside being worth it on the size I had.
Click to expand...

What do you mean? Gonna buy more?

I’m actually thinking about cashing out some of my ltc and re buying. I want to get rid of my bch and use some of my ltc profit to get my initial bch investment back. Probably should have done it the other day when it was in the $200s :lol:
 
After chinese new years we will moon they said.
Hedge fund managers will get their bonuses and we will moon they said.
Income tax money coming in they said
Head and shoulder formation, moon soon they said.
Elliot wave on the hour.. Looking for a breakout they said..
New money will come in once exhanges open the gates they said.

One thing ive learned in crypto.. Nothing makes sense.
Make enough predictions.. One will probably happen.. not because of TA or they know what theyre talking about... But because it just does.

Still hodling for thebyear though. Lambo on moon soon.
 
Head and Shoulder doesn't always mean a breakout though. Most of the time (imo) it's heading for a downward trend. :lol:

Was that Elliot wave an impulsive or corrective wave, though. :lol:

Just like everyone say DYOR....No difference in TA....use it to give you some direction, not to follow anybody word as golden.

We all know the game, it's a volatile market...can't always win, period.

Just hold...
 
Last edited:
The thing to realize here is the liquidation that’s been going on since December from the Mt Gox trustee. That’s been pushing the price down. The scary part is there’s more coins for him to sell so who knows, but it’s doubtful he’d sell here and push the price even lower when he could hodl and start selling again at the highs.
 
godishere said:
After chinese new years we will moon they said.
Hedge fund managers will get their bonuses and we will moon they said.
Income tax money coming in they said
Head and shoulder formation, moon soon they said.
Elliot wave on the hour.. Looking for a breakout they said..
New money will come in once exhanges open the gates they said.

One thing ive learned in crypto.. Nothing makes sense.
Make enough predictions.. One will probably happen.. not because of TA or they know what theyre talking about... But because it just does.

Still hodling for thebyear though. Lambo on moon soon.
Click to expand...

Bitcoin futures are gonna expire, moon soon they said
SEC announced crypto should be taken seriously, moon soon they said
Various countries like China India South Korea are not banning crypto, moon soon they said
 
Liquidation will have a cloud over btc for a while until a plan is outlined publicly which wouldn’t happen since people would abort futures or we detach alts from btc
 
oidreez said:
Bitcoin futures are gonna expire, moon soon they said
SEC announced crypto should be taken seriously, moon soon they said
Various countries like China India South Korea are not banning crypto, moon soon they said
Click to expand...

Y'all seem like the type to base your investments on what folks say and recommend in here.
 
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