..aaaand, we’re back on it again – a wrong Bitcoin price. Sunday night Bitcoin Flash-crash dipped a red light the size of Jupiter; And more creepy it fell by falling down Monday morning and touching under $ 111,000.
Now, in this country with Bitcoin prize, we say no one knows why prices are moving. But sometimesDo we do … though not as good as we would like. Today I discuss two things: The last 24 hours value of Shenanigans and Fed -Chairman Jerome Powell’s comments late last week.
An irregular Bitcoin price
Late Sunday (European Time) was rather disgusting:
It’s hard to say “no one knows” when a diagram looks like this; naked Know what happened to throw the Bitcoin price approx. 3,000 in a few minutes. If it is not a particular macro event, as last week is the only thing that eats through order books like this, a) massive Orders and – what corresponds to the same thing – b) lot Liquidation.
Yesterday there was some indication of both:
or…
This is an underdeveloped market and it is ridiculous how small we are and how illiquid the bitcoin market is: Still able to be skewed around by individual market players. (As always in Bitcoinland there are some Schmuck that are willing to turn a verifiable Bad thing into a good thing.)
The 2.5% immediate fall in the Bitcoin award last night may be a disposable due to a whale selling or some liquidations, but the gradual, diagonal down movement during the night and Monday morning (Bitcoin award crashing below $ 111,000) is much more worrying. Ignore the big, noisy whale … Wth happen? Why do we die slowly When we had to win, son!
All of the world’s macropile pointing in the right direction: Why is the Bitcoin price deal downin this range when any sensible assessment expresses it twice or triple from here …? (And no, we Didn’t do it Fall below $ 111,000 seam or because Or in relation to the metaplan at all that advertises the buyer).
Price does what it wants; Shitcos do what they want.
Bitcoin price treatment definitely Necessary: Bitcoin Price just does what it wants, without regard to health or rational assessment. Not a care in the world for the most bullish of bullish circumstances. Maximum Pain I’ve Heard It Said. Not even Saylor’s average of million dollar costs did much of a buck:
One of these magic tea magazines that reads techniques (128-day moving average) tells us that our Bitcoin Magazine Pro-Team today is $ 108,500 … so we’ll probably go there. Saylor et al has already sold their kidneys and chairs, so I wonder what is left.
More interesting/scary is that it continues to fall afterwards and hits new low ones. Our most scoop-like explanation is that all of these shitcos-as Mr. Bailey, the owner of BTC Inc, runs one, recently has burned approx. 41 million dollars and gobbing of all these coins during the spring could not hold onto them and now brings them out again; Some, in liquidation -infected red candles and others in slow, abrasive, time -weighted price.
A particular Cypherpunk and acts aware of the structure:
Bitcoin Price and Powells Tarm
Sometimes we are actually (kind of) Do Know what happened in markets – as last week, August 22, at. 10 Eastern: Released on the FED website was the statement/upgrade to Fed’s Monetary Policy Framework. It was widely interpreted as a future easing of monetary policy in the cards. How Do we know this? Because each (hard) active jumps on the minute, and the dollar index Fall:
- 9: 59: 49… Bitcoin Price = $ 112,393, according to Bitcoin Magazine Pro’s Chart.
- 10:00:49, a minute later, it is 113459 …
- A few minutes after that we hit 115,000, Bitcoin Price rose 2.3% on the news.
This is the kind of shit moving markets, and instantBig features make us pretty sure this is the reason.
(For reference: 9.59, dxy = 98.7; two minutes later, 98.15; another minute, 97.8. It’s 1%, in a flash … It’s a big move for DXY!)
Now we have placed the source – Powell’s speech and/or the release of the statement. Which A little of his statement is what shocked markets then?
What happens to releases such as this or inflation numbers or unemployment of BLS, that simple trade algorithms are scraping sites for immediate updates and making a shared-second assessment, often with second-order action effects after. The movement itself is often turned ten, twenty, thirty minutes later, when human and intelligent assessment has become involved. After all, it was an nothing burger. That was not the case this time when the Bitcoin prize was acting high this weekend (until someone ruined the fun on Sunday …).
Powell’s statement last week revealed that
- Inflation is slightly elevated but under control and comes down
- GDP growth had subsided markedly
- Unemployment was stable and balanced (but “a curious kind of balance” where both supply and demand collapse) → risks completely.
- … and they will scrape all this wrong idea of average Inflation targets (for some time period no one has ever specified).
“In the short term, the risks of inflation are tilted to the head and risk hiring downward – a challenging situation”
Yet, Powell concluded that these risks “can justify to adjust our political attitude.”
In minutes and hours after the speech and release of the statement topped Bitcoin Price to $ 117,000 before falling back to $ 116,000; It is market participants who dissect and assess organically what this new state means.
Here is where my “nobody knows why” takes Still Holder: nobody knows that What part of Powell’s statement matters as new information is always mixed and merges with expectation Market participants had gone in – and we can only rarely tell what it was. What we do when we play these gatherings, ad hoc, subsequent explanations is to play post-rationalization games. Not so impressive.
Total pathetic. We need Bitcoiner’s rich and flowering, not poor and confused.
Bitcoin price treatment out. We all see you in Hong Kong for Bitcoin Asia.