is it finally time for at least a mini-alt season? This video is about why I was suspicious of the recent Bitcoin move up, and how the market continues to follow my June-July 2016 fractal pretty closely. Obviously it could deviate at any point, but I find this pretty fascinating.
What I don't mention in this video, is that I figured some big money would be dumped into some alts after profit was taken during this recent move up for Bitcoin. A leveraged long opening at 10K and closing at 30K would net someone an enormous amount of profit. Even a small fraction of that profit could easily ignite a bit of a pump for some alts, particularly with a Bitcoin dominance close to 70%. I mentioned this theory on Twitter. I should emphasize that it's only a theory...however current price action is currently supporting my suspicions, as the rally was sold quickly, and some alts are showing some pretty bullish price behavior (long wicks, increase volume, etc.)
This is not financial advice! This is just my way of documenting my experience with this crazy market. Hopefully you enjoy the ride as much as I do.
The 7500 BTC offer at binance is now sitting in USDT and it appears he was the same guy posting 3MM scare bids under alts causing 15-20% pumps two nights ago.
VictorCobra
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@SalientQuips, Interesting...how do you know it was the same person?