My view of crypto fraud market, the magician and 666I've wanted to post this idea much earlier, but I didn't feel to write, although I got so many to write about with a constant flow of ideas and information that I could write volumes, I try to keep it short and expand it in updates. I do notice nobody gets my updates, you have to click the "Follow this idea" next to the like button, try if that helps... if not, well my account is shadowbanned indeed.
The pump was artificial, there is no 100m usd mystery buyer, that story is non-sense, because a mystery buyer does not place at hundreds of exchanges same second for supposedly billions of dollars market orders. Imho, it's the crypto cartel, ala exchanges that have done this. I've explained this before in the MM exit pump idea when we went to 8.45k last year.
Today my friends, it's the beginning of the end. I've talked about black swan for over a year that it's coming. Bitfinex and tether are getting sued, but this is just the beginning, because the rest is following.
www.wsj.com
www.theblockcrypto.com
Task Enforcement agencies have already banded worldwide and Binance will be the biggest of entire crypto collapse.
www.asiatimes.com
www.theblockcrypto.com
I shared with friends a vision I had last summer that a major exchange is going to get shutdown in Oct '19, I've put this idea locked/private, here it is for future reference @
This probably will be shunned as fud, but I know asia crackdown is coming coming months already and CZ probably knew he would go to jail when he stayed in Japan, which I've talked about last year, hence fleeing to pirate island, which is now also not safe, they're coming there as well. I've made predictions last year as well what would happen and so far coming true:
1) Fake exchange hack stories, when in reality it's organized theft and exitscams. Many have exitscammed and many more will, including the large exchanges. Quadriga was just one of them;
2) The drop to 3.2-3.3k, before going lower;
3) Manipulation of price using tethers;
4) Manipulation of public sentiment;
5) The toxification of crypto communities (see CT);
6) The rise of fraud and criminal activities.
I've calmed down the guys thinking it was the bottom at 3.12k, which I do not subscribe too. I saw even the permabears became bullish and calling the bear market over. I've always said we going to make a new low to 2-2.2k for bounce area to watch how it reacts before calling anything over. My neutral price is $650-700 and a real collapse could mean $80-$90 per bitcoin. I've shared my fundamental reasons for thinking and feeling so. I've shared the evidence of manipulation back in Bitcoinica days, to MtGox to Bitfinex to Binance to Bitmex and all usual suspects of pump and dump clowns and promoters and useful idiots at the expense of the naive, which there are many.
You've been told lies about Bitcoin and it's become like a religion, which any who believed in it that it would be the future would proof to me they are young souls and probably will find out the hard way if they don't change.
I do believe digital currencies will be the future, probably with blockchain for scalability, uptime and security. I've watched this space since 2011 and only started trading few years laters and I've read the bitcoin white paper and sounded very good. Today, 10 years later, Bitcoin devs have departed from that vision for centralized vision, the anti-thesis of Satoshi Nakamoto. What has become of cryptocommunity freedomlovers has turned into a toxic place of the masses where everything is about the value of bitcoin vs usd, including exchanges who scam people for every cent they got. This was not what Bitcoin was first about, hence I call crypto a giant fiat extraction ponzi scheme. If crypto was about to survive and have meaning, it has to start over, with all rotten players out of the game and start mass adoption in private and public sector at much lower prices so distribution goes to as much people as possible.
Valuations are still in bubble territory and is kept aritficial with tethers. Last month over 1.2 BILLION magic money (yesterday 300m + 40m) was pumped in the system with worldwide fiat trading vol less than 6% and estimation fiat in system less than 10% at much lower prices, so prices are propped up to the last suckers still buying, including some people from MtGox days I know who have not learned anything.
Now here is the kicker. They can still exit scam and pump prices to 8-30k, which has nothing to do with technicals, see my chart, in other words, entire crypto will be Tethers exclusively. This will mean that you CANNOT cash out in fiat, I hope you do understand that, right? Your only place would be p2p with no liquidity and eventually at discount. I've said in my updated post and in the one of SPX + my twitter were first resistance was, which we hit and second to sell coin and also where to exit crypto and cash out. I've recommended not to short and some people didn't listen and got in big losses, then why you telling me this when I said not to short when obviously it would go higher.
With such news, this rally can be over, as it was with Bitconnect. Yeah, how did TA worked out for you with that. Most important asset is your brain.
I will update this post later on, right now is critical time and I don't have time to write more at the moment. This chart was made yesterday and targets were made many months ago. My targets don't change, as you see in my previous ideas, I actually did call the bottom which I said was NOT the FINAL bottom. Many egos said they called it when they didn't call anything without any proof, while mine is over a year old at first.
Most important thing, preserve your capital. Updates will follow.
