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BTC Mkt Update (Patreon)

Published:
2022-08-19 23:01:14
Edited:
2022-08-19 23:28:13
Imported:
2022-08

Content

Hi Team

Quick update.  I did take a little nibble on some bitcoin earlier this morning but it was a small amt.  I am a bit worried about the continued selling pressure - going by the chart it looks like continual dumping.  

This could be part of the Mt Gox sell off.  The stock market did move in unison so that Mt Gox sale is not guaranteed but I am holding tight for now. I still have funds reserved to allocate to Bitcoin. 

I may nibble on some ETH under $1500 (optimally 1400).  SOL low 30's and Bitcoin closer to 20K. Stop losses will be tight under major levels. 

In the meantime if the high volume selling continues it could definitely be the Mt Gox dumpage and that is easily enough to take us to 20K or below. 

Hold tight 

UPDATE:

Could be Celsius selling but they do not have enough BTC to move markets. 

Mt. Gox wallets have not shown any movement. Reference https://www.cryptoground.com/mtgox-cold-wallet-monitor/



Comments

Anonymous (edited)

Comment edits

2023-01-22 20:10:12 I looked randomly at > 10 Mt Gox wallets and none move any BTC since 5/03/2022.
2022-08-20 19:12:25 I looked randomly at > 10 Mt Gox wallets and none move any BTC since 5/03/2022.

I looked randomly at > 10 Mt Gox wallets and none move any BTC since 5/03/2022.

Anonymous

Also the trustee is not releasing all the coins on one day. It won’t work like that. They are offering a withdrawal process where you choose what you want to do with your BCH and yen. Each claimant will have lots of additional KYC and paperwork, it will take at least 1-2 months for claimants to receive their coins.. There will not be one big dump of coins from GOX There may be a sell off due to psychology wanting to front run. Markets are always looking for an excuse to do what they want to do, humans have a need to have a story and a reasons for everything, but markets do t care, they are goi g to do what they were always going to do.