Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
LOL I'm gonna laugh so hard when the price gradually goes down after halving.
People think it's just gonna shoot up on halving day lmao
People think it's just gonna shoot up on halving day lmao
Why would it gradually go down when the reduced supply of coins restricts the miners to only dumping half the coins they could beforehand? Most posts here expect a gradual increase in the price, not a huge price spike on halving day.
Good thing major players don't understand how this price rise is a sure thing. More cheap coins for us!
It's all about expectations. If market over estimated the effects of the halving, people borrowed say $10MM
to leverage long and pay $5k a day, expecting BTC to go to da moon on the halvening day. Then halvening comes, and the price is stable (or worse some short decided to dump and it goes down) now you're disappointed and have to cover your long, by selling $10MM in BTC which squeezes other leveraged longs. It shouldn't be gradual though but rather sudden, and then the bigger market forces come in play and if true demand goes up (or even stays constant) BTC will gradually crawl up