A Tale of Two Trains And Their Passengers

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(Edited)

If you're a piece of plankton in the ocean that crypto markets are and you lost the train of Bitcoin at $30,000, what do you do?...

You either enter the market at any cost or wait and see if you're lucky to buy some at a discount on a retrace. But if you're a whale or a group of whales and the train has passed by you, or you're into loading more bags on the train, you do something and "pull the train back".

I am not expert in analyzing the market from a TA perspective or by looking at tons of metrics that some of the best traders and analysts are taking into consideration, I rather study the psychology of the market, but there is this one guy, Plan B that you might have heard of for a while who's more than trustworthy when it comes to such analysis.

He's studied the Bitcoin market for the past five months or so and according to him we're being played by whales, aka large financial institutions, into selling them cheap Bitcoin. These guys have probably studied Plan B's S2F model as well and they know BTC is getting above $100,000 this cycle. They seem to also have better memory and conviction than the plebs currently selling.

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“The price action that we saw last month and especially this month, the down action, was always in the illiquid hours of the market. So it was deliberately destructive. It was not sold by someone who wanted the most dollars for his Bitcoin. It was sold at illiquid times in the market with far too big of a chunk to get a good price so it was destructive selling. Actually, if you look at the price charts, for example, the daily chart for the last couple of months, you see that all these destructive selling [events], all this selling, which by the way took place at the end of each month strangely, all that selling was bought within one or two weeks.
-PlanB

It was like a V-shaped recovery within two weeks. That also is, for me, a bit of a hallmark of institutional buying that they scare people out of their positions. They, together with their OTC (over-the-counter) desks, scare retail and normal people out of their positions, even liquidate people out of their positions and then buy the scraps in the weeks after it. That is especially effective if you sell and push the price down in illiquid hours and then buy the stuff at liquid hours in small chunks. That is basically what I’m seeing since January, so the last five months. That’s very, very bullish in my eyes.”
-PlanB in a podcast with Preston Pysh

Now those were some chunks of quotes, don't kill the messenger on that one... I'm not particularly a fan of copy pasting content into my posts, but I find this piece of information highly relevant for understanding the current situation in the crypto markets and what particularly might happen right now.

PlanB might be wrong on this one, we all can be wrong on any sort of judgmental thinking, but it makes a lot of sense imo. I have not subscribed to the idea of a bear market currently for Bitcoin, and neither does Alessio Rastani in his latest video. BITCOIN IS NOT A DAMN BEAR MARKET. Let that be clear.

I don't care who's claiming that and what charts is he using, I have the experience of a full bear market and the current market behavior doesn't replicate anything of this kind. Moreover the mass adoption of cryptocurrencies and recognition in the financial world is paving the future highways we will be driving our Rimacs(not Teslas) on as we speak. According to Cointelegraph Digital bank Anchorage offers Ethereum-backed loans to institutions and that's more bullish new to fuel my fire.

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I admit I am a bit dumb when it comes to understanding all sort of technical details, but I can see trends and I love reading the psychology in every thing that I focus upon. I mentioned in a post a while back that I believe we will have crypto banks in a not so distant future and here you have them. This thing is moving...

While the train of the crypto markets can be pulled back by manipulative whales and acquire cheap Bitcoin from FUDed investors, the train of development is not controlled by any external entity. Guys like Vitalik Buterin and our own @khaleelkazi don't give a fuck about Bitcoin's price, they simply stick onto their building plan.

Look at how much Leofinance has progressed in the past few months. It's amazing and we're just a tiny project that almost no one knows about us. At some point we will probably get our deserved recognition and respect, but the progress and development is not to be overlooked no matter mainstream situation. It matters a lot though on which train is each of us onboarding. The mainstream easy to pull back one or the rugged non destructive that keeps on going further.

Don't get me wrong, it's not like if you stick with the second option and take your eyes off the markets and poisonous FUD you're gonna loose money, on the contrary, not getting emotional and panic selling when whales are whistling is definitely gonna make one much more money, but staying far from the toxicity of social media and mainstream ideas is definitely my choice. Being a contrarian has so far been the best option in my case, that of course when I actually put it to work.

I don't know about you, but I'm sticking to the plan(PLanB). As a personal opinion I believe this bull market is replicating more the 2013 one and not the one from 2017. I don't know if time wise we're halfway through the cycle, but I'd say that we're actually halfway when it comes to price growth. Have a great weekend and see you to the next post.

Thanks for attention,
Adrian

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don't care who's claiming that and what charts is he using, I have the experience of a full bear market and the current market behavior doesn't replicate anything of this kind. Moreover the mass adoption of cryptocurrencies and recognition in the financial world is paving the future highways we will be driving our Rimacs(not Teslas) on as we speak.

I totally agree with this statement


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You pointed out the biggest idea in all of this. The price does not matter to those who are building. They keep building regardless of what the price is doing.

That is the biggest bull market for crypto there is. The development is still ongoing, at an accelerating rate it seems. In the end, this is all that matters. Markets will do what markets do. However, they cannot ignore massive development as time goes by.

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