Dominance and Robbery, the money game of btc dominance #41.Many people once agreed that the price of btc would reach 100k. This prediction was made when btc dominance was at 65%. When the btc price was at 69k, the D was at 45%. The simple calculation: (100k*supply)/65%≈(69k*supply)/45%. So I think the 100k btc theory accurately predicts the total market cap of the crypto market and shows us the importance of maintaining the D to miners.
2.Miners, mining groups or 'pure bitcoiners', they can just crash altcoins and leave others guessing why. It is in their interest to bind the concept of blockchain, cryptocurrency, btc and POW mining. They don't even want the outside world to know the existence of altcoins or other choices. People like well-known developer or CEO of a big company directly spread rumors attacking other cryptos, which means that the fake and fragile number one of that prototype is about to collapse.
3.We are going through the same process as 2000 and the alts/btc direct trading should be cancelled. You can't imagine if Amazon's value was measured by the count of domains.
Manipulations
Who is the MARKET MAKER and how they manipulate the market ?!!!!-WHO ARE THESE PEOPLE, WHY ARE THEY SO MEAN AND MANIPULATIVE
-I SWEAR I WILL NEVER TRADE CRYPTO AGAIN ITS ALL PUMPS AND DUMPS
-AAAGGHHH NOT AGAIN....they stop hunt me again and I am rekt once more.
-THESE MARKET MAKERS ARE FULL OF ---- .
yup, we have been all there my friends I get your feelings, I really do! but you think market makers are evils and are here just to manipulate the market? for real?
bare with me for a couple of minutes and I will break it down for you.
WHO IS THE MARKET MAKER
A market maker is a simple man, but this simple man has a lot of money and with a great amount of money, comes great amount of power.
let me borrow a sentence from 'investopedia' so I can introduce you to this simple man:
"The term market maker refers to a firm or individual who actively quotes two-sided markets in a particular security, providing bids and offers (known as asks) along with the market size of each. Market makers provide liquidity and depth to markets and profit from the difference in the bid-ask spread."
did you notice that? "Market makers provide liquidity and depth to markets.."
so it is fair to say that their existence is crucial for every market. without market makers, there may be insufficient transactions and fewer investment activities, which means you can not buy your favorite altcoin/asset at a certain price because there is no one willing to sell to you.
it's simpler than you think, market makers provide deals in the market, they offer 'x' amount of securities at a given price (bid) and also offer to sell 'x' amount of securities slightly higher than where they bid (ask).
When an investor initiates a trade they will accept one of these two prices depending on whether they wish to buy the security (ask price) or sell the security (bid price).
I also borrow the last sentence from 'investopedia' xoxo
HOW DO MARKET MAKERS MAKE PROFIT?
the difference between their bid price and ask price is what we call 'spread'.
if the bid price of a stock is $10 for example, and the asking price is $11, then the spread is $1 (or 9%).
if I buy one share of that stock at 10 and sell it at 11 I will put $1 in my pocket as profit. but market makers make a trade with spreads as low as $0.01.
why? we will get to that very soon, what important here is that even in small spreads you can make a lot of money if you are investing with A LOT of money, and boy they do have a lot of money.
as I mentioned earlier they keep the spreads really low for multiple reasons:
the obvious reason is to make the market moves slightly with a natural flow which we can witness in liquid markets such as forex or Bitcoin for instance, the orderbooks are always tight.
another reason is the exchanges that offer different market makers to come and heal their order books and 'depth'.
so there will be a domestic rivalry between market makers as well in order to execute their trades before anyone else and they will keep the spreads as low as possible.
another quote from 'investopedia' which is the sponsor of today's article (lol): "Market makers must operate under a given exchange's bylaws, which are approved by a country's securities regulator, such as the Securities and Exchange Commission (SEC)."
WHAT WILL HAPPEN IF THE SPREAD IS HIGH?
you will die..
Nope, it was a stupid joke ffs
when the spread is high the depth of the market is shallow, and when the depth is not deep enough, any player with a fat bag can move the market in any direction that they want.
what is this 'depth'? glad you asked:
"Market depth refers to a market's ability to absorb relatively large market orders without significantly impacting the price of the security." (by order of the investopedia)
Market depth can be evaluated by looking at the order book of an asset/stock/..., which consists of a list of pending orders to buy or sell at various price levels. On any given day, there may be an imbalance of orders large enough to create high volatility, even for stocks with the highest daily volumes.
are we done here? you all understand? good lets move on
BUT WHY ARE THEY SO EVIL?
It's all about business darling, a man gotta eat and feed his familia.
these market makers usually work on behalf of large institutions, and they are brokerage houses that provide trading services for investors in an effort to keep financial markets liquid. but they can also trade individually and make some profit on their own, this is where they manipulate you with fake breakouts and deviations and upthrust and springs and blah blah blah. without market makers trading won't be fun ;)
thanks for baring my none stop nonsense writing, although I put a lot of hours behind my research so I don't falsely deliver the wrong information!
so leaving a like and comment will cheer me up a lot, and although I don't have A LOT of money to be a market maker, I have A LOT of free time to create content such as this. (follow me :D)
the next article will be about the taker buy-sell ratio !!!!!!!!!
Dominance and Robbery, the money game of btc dominance #2Following the point about D manipulation, you can found the same traces on the January 2022 chart. 3% of the total crypto market cap was robbed.
The situation has not changed much at the moment, about the roles I mentioned: According to reliable information, Chinese miners have now transferred equipment to South and North America; Chinese retail investors have decreased but they still have a lot of ways to trade; Also those price prediction groups on Wechat are still active. Well miners from other countries won't tell us whether they joined the gang or not.
With those Chinese miners, btc has seen few technological upgrades since that controversial hard fork. Because it is not necessary, as long as they manipulate D, they can starve the altcoin projects that carry out technological innovation and easily win. Even if someone wanted to, do you remember how many miners in the so-called community were strongly opposed to Ethereum's upgrade proposal?
This is extremely harmful to the crypto industry, both altcoins and btc. When Satoshi's prototype finally fails to maintain its Dominance, they will soon dump all their holdings and crash the entire market. If you believe crypto is the future, then all they do is DESTORY OUR FUTURE.
Dominance and Robbery, the money game of btc dominance #1I can't post multiple charts due to account level, you can find them on my Mastodon
Before any accusation, let's see something really intersting on chart.
First is the big crash in 2018. As you can see, the bitcoin Dominance reached an all-time low around 40% on Jan 6, 2018. And many altcoins reached their peak at this time. Then the market crashed. During the long crypto winter and after, the bitcoin dominance keep rising.
And the recent pullback in September 2021. When the D close to 41%, the price dropped sharply. Then the price rises again with the D. The same pattern also appeared in the pullbacks on Sep 1, 2020 and Nov 23, 2020. I will share charts later, if I have time.
This one is different. In the crash on May 19, 2021, the price and D fell at the same time (bitcoin lose more than altcoins). And here comes the key information: the cause of this crash was China's mining ban, and most of the bitcoin mining used to be in China before that.
So now we can know the ugly fact that when miners are directly hit and temporarily lose the energy for market manipulation. Altcoins would not loss so much more market cap than bitcoin in a correction.
Not long after, right before the September 2021 pullback I mentioned above, most of the Chinese price prediction groups on WeChat were full of rumors about ‘whales selling off’. It is extremely rare for them to predict such level of correction so accurately. Also, founders of these groups have a well-known good relationship with local miners. It's just a Chinese way to make retail investors trigger a long squeeze and spread fear to whole crypto market, resulted in a significant rise of D.
I am Chinese and I know lots of Chinese millionaires are obsessed with their money game and have no vision for the future. It's shown on chart. Chinese retail investors fail to get correct and complete information, they choose to trust unknown people claiming to be experts in various groups on Wechat, 'DYOR' is not popular among them. This makes them extremely vulnerable to massively targeted rumors and eventually become puppets in the crypto market. Turning themselves into tools for increasing price volatility and disrupting long-term value investing opportunities. After the Chinese government cracked down on crypto trading in Dec 2021, Chinese retail investors have significantly decreased. This leads to a weakening of the price relationship between bitcoin and altcoins, which makes the manipulation of D become a little less effective.
This is robbery. For any progress in the blockchain industry, defi nft or others, miners have zero participation. But with the manipulation, they can always maintain btc dominance to rob in every bullish cycle and others cannot get the reward they deserve.
The Manipulation of BITCOIN! I have been in the Crypto Space for about 4 years and I have been studying Bitcoin since 2017 High. I've learned something along the way. During 2017 high, there were many people that talked about Bitcoin. It was all over social media. Many people were talking about it, even people that did not know anything about Bitcoin. As a surprise, that was the top and bitcoin dropped all the way down to 3k. When Bitcoin dropped that low, many people that invested, especially, in the top took the loss and did not want to invest on Bitcoin again. After years, Bitcoin finally pump and went as high as 60,000 dollars. Then something happened, social media started talking about it. People that was not in Crypto in 2017 started talking about it. People that know nothing about Crypto and bitcoin started talking about it. This was a signal that it was the top. So...
Will Bitcoin do the same thing as it did in 2017? If so, Here is the chart on how it will look like. People that bought above 50k to 60k will get trapped. Bitcoin will dump all the way down below 20k. I say below 20k is because it is a major key area that tracks back to 2017 high. There will be a lot of liquidity around that area. It will consolidate for weeks and finally, eventually, a new bull market will start. This will take Bitcoin to 100k and more. The question is "How long and when?"
ETH follow Bitcoin in their movementEthereum it's seem that follow the same movement of Bitcoin do. So, guys, this is really excited me how Ethereum is make the same movement as Bitcoin do. Well, in this technical analysis, I will going to make there, but first we reccomend to closed up your short position as I did in my Bitcoin technical analysis, and also, I put in Bitcoin and Ethereum in buy to earn money in Prime XBT.
The situation of Ethereum is the same of Bitcoin that have in the bearish channel and also for midterm, we hope a Ethereum is continue this bearish channel and drop of lower level in the past years as $120 USD. But also, I should be to make a special technical analysis of some altcoins as I did in Bitcoin analysis. I like to trade cryptocurrency as I go in Forex do.
But in H4 timefra, this is a caution, this is not a shoulder head shoulder, do you know, Ethereum follow the same movement of what Bitcoin do, and if Bitcoin we see so bullish, why not Ethereum it's going to put a buy? But rememebr, that is discart and this is not a shoulder head shoulder because it's was invalid and I will going to explain for why of there.
This is a great explication of what we see, in the short term there are a higly possibility if Bicoin continue to up of $9,400 USD, Ethereum it's can be to reach at $240 USD approximately. Now, for me my target profit is to find up $231 USD.
And finally in this analysis Ethereum is have the same movement of Bitcoin, about the conduct of Ethereum as Bitcoin do, we have the same rejections, a double bottom, and the same characteristic as Bitcoin do in Ethereum.
So, guys this is my technical analysis and my little and quickly updated of what this cryptocurrency so volatil do. Also, for me a counsel, don't grow to hope that Bitcoin is going to longer, because Bitcoin and cryptocurrency are volatil and the price is so crazzy, up and down, up and down again, and we need to take a good support and resistance, and this I believe that is my great strategy to operate crypto because crypto are so volatil and it's not the same of Forex, because Forex I am very well and it's nice for my analysis, but crypto markets are another kind of markets and the movement are different of Forex, for me, it's reccomendaly for you to not still operation for long, or maybe if you operate in Daily you have more security than operate below of H4 timeframe, because Bitcoin is so volatil, so so strongest volatil.
That is my reflection for you and for me, dont missing this strategy!!!
Updates for AUD/USD: Manipulation Zone was go backIn this updated. I want to show you why this manipulation is occur, because is not complete the elliot wave # D and it's supposed to find up the elliot wave # E to complete the elliot wave correction. So, today in the monring at 7 am approximately i check up my AUD/USD charts and see a manipulation and entry at 0.6850 USD with other 0.01 lots, So, I have 0.02 lots operating in this par.
So, in conclusion, we hope that AUD/USD is leave at the zone of $0.6950 USD.
EUR/GBP going in Bearish scenarioThe EURO has a stoped bull run rally from 1 week. So, this fundamental are from experts what take opinion for all public traders.
Well, EUR is reach in the zone of 0.618% of Fibonacci and continue in the bullish rising wedge that mean a possible continue drop of the price, also, we need to take objective for pick up.
That red arrow that I mark it's mean manipulation of the price in H4 or H1 timeframe and this mean a continue drop!!!
Well, Fibonacci say for us the continue trend as Bitcoin do in my previsouly technical analysis and this is a golden zone. Well, guys, now there are 2 scenario to remember in formation, there are a possibility to form a double bottom and possible stron support. Well, my objective is just to find down 80 pips, it's all for me!!!
Well, this is my screenshoot in Daily and Weekly timeframe that I created with elliot wave analysis!!! So, look out my beyond of my technical analysis!!
Also, as add fundamentals, the USD is into the recovery of their economy
1. Dollar retreats even as covid-19 numbers reach grim milstone
2.Dollar styned as mood signs between recovery hopes and virus fears in US and recentrly cases in Florida
3. Forex-Dollar slips; Euro gains ahead of merkel marron Meetings. This is very important this meeting.
4. German inflation picks up more than expected on services costs
5. Europe slowy picks up pieces after virus shattered economy
Now, guys the news for the Eurozone more impact is that German have a inflation of services costs of PMI, and this indicator it's very bad for the Germany and leader in the Eurozone!!!