Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

Grayscale have apparently bought another 17,000BTC in the last 7 days. The bull run is coming, boys.

The circulating supply is drying up, the price will reflect this in the next 18 months.

with all this buying, I really wonder who tf is selling all those bitcoin 45% under ATH price which was fkn almost 3 years ago. selling the best performing asset in the history of finance when it is on its way out of multiyear lows, one must be truly nuts. why tf did truly nuts folks buy it in the first place? just for trading? billions worth of coins only sold by traders? OG whales not patient enough to wait a few more months?
miners? miners that need to cover cost? but them mining only 900 btc a day, so... unlikely. scared retail? I don't think. why getting scared now, the time to get scared and panic sell was in March.

tinfoil hat therory: some entity (yeah- deep pocket banks or alike) bought a shitton of btc to dump it on every little sign of bull during this next potential run-up. because they know the next run-up is the last run-up. Wink

well ok, not very likely. but who is selling?

mindrust sold 10 BTC on March.

17000 BTC / 10 BTC = 1700 full mindrust events.

I think it's quite possible for 1700 weak hands to exist, and be ready to sell because they read the latest Peter Schiff tweet, no?

Of course, said BTC really comes from a combination of sources, but I wouldn't rule out lots of small (single/low-double digits), weak fishlings which, when taken together, can amount to 1000s of BTC.

Let them sell. Selling also means that someone's buying, so all is good, it's just corn being shifted from the dumb to the smart.