Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Well, the events described in this post happened. There was a short/long squeeze on the market and a further drop in prices below significant support levels:
Derivative markets contributed to the fall, namely option expiration, increased open interest, increased use leverage by short traders, etc.
Derivative markets contributed to the fall, namely option expiration, increased open interest, increased use leverage by short traders, etc.
Next option expiry will hurt.
I just hope that when the uppity resumes, it will be fast and wild enough to reck some of these paper dealers. Eventually, they will need some physical corn to cover. My wish for them is that they have to scramble and marginally buy it at 200k+ apiece.
And it is guaranteed to remain nothing more than a wish. Bitcoin won't go above $45k at any point in 2022. Nor will it in 2023, 2024, 2025, and beyond. Macroeconomic winds have finally caught up to the mania. Nothing about bitcoin is special enough to overcome the headwinds of the next decade of economic policy. Before the next halving we will see prices below $10k.
Are you sure they won't just cancel the next halving considering Bitcoin is such a failure?
You joke, but it's totally plausible the halving will be delayed due to a cascade of miners abandoning the sinking ship.