Anybody has an explanation of btc flatlining?
It's weird, but i take it in lieu of declining.
just a guess but it came in my mind today:
cash is king in these times and therefore a lot of speculation on the price of
BTC is missing. what we see at the moment is maybe nearly the real value of
BTC without the whole amount of speculation which is responsible for all the noise in other times. look how stable
BTC can be without speculation. impressive!
No way this is even close to the real value of btc!
The price is stable because we have market makers involved in the system. They make their money by keeping the price stable. We had a massive dump the other day and then the market makers stepped in and are keeping the price stable at it's current level. If we have a massive pump, the market makers will stabilize the price at whatever it ends up at.
The price only moves up or down when the action is too much for the market makers to control.
That's a really strange explanation.
If market makers were buying (from sellers) on the way down, THEN they have to entice a pump (during which they can sell the inventory and stay neutral), otherwise they would be loaded with btc that they (market makers) don't need on a permanent basis.