Cyph3rp9nk on Nostr: Now they will tell you that it is because of the Bitcoins of mtgox, 140000 bitcoins ...
Now they will tell you that it is because of the Bitcoins of mtgox, 140000 bitcoins is a ridiculous volume, look how much the derivatives market moves.
The derivatives market for bitcoins (futures and options) is tied to the spot market, look at the volume that moves daily in the derivatives market and you will understand why the mtgox is nonsense, again, what is happening is a lack of liquidity in the markets and bitcoin is very sensitive to this.
Waiting for Japan to capitulate and the US to come to the rescue of the Yen.
The derivatives market for bitcoins (futures and options) is tied to the spot market, look at the volume that moves daily in the derivatives market and you will understand why the mtgox is nonsense, again, what is happening is a lack of liquidity in the markets and bitcoin is very sensitive to this.
Waiting for Japan to capitulate and the US to come to the rescue of the Yen.
quoting note1zn5…hwukWhat is happening with the price of Bitcoin?
Global liquidity m2 is stagnant and since April 13 has been going down.
Dollar liquidity has been falling sharply since June 17.
Remember:
- Halving does not affect the price, it is a small percentage of the total bitcoin supply which is the 19.7 million minus those lost, stock to flow is bullshit, it is only good for perishable goods.
- Technical indicators are not good for shit either.
- Only liquidity matters, bitcoin was created for this, to penalize central banks when they print.
