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72 sats \ 4 replies \ @nikotsla 16 Oct 2023
This is a good picture of how they can "manipulate" signals only using the media, we are going to see a lot of noise in the communication channel. I see the price stable 1 BTC = 1 BTC, and the purchase power is only limited by the merchant integration with bitcoin as a medium of payment.
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21 sats \ 1 reply \ @ek 16 Oct 2023
How do we know it's really manipulation and not just a lot of retail investors buying because of the news but then getting scared and selling again when other entities like whales don't believe the news and start to sell?
Is that really "manipulation" or just how markets work?
Or are you saying something else happened?
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0 sats \ 0 replies \ @nikotsla 17 Oct 2023
Could be a lot of retail investors buying, but still the signal was a "news", no confirmation/verification in any way. The reaction of a retail need more time, this short burst are always related with bots.
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0 sats \ 1 reply \ @PRA3S3NT1A 17 Oct 2023
I totally understand you. But please be aware that some of us are dependent on the price of bitcoin in fiat terms. Time to time it is necessary to sell some sats for cover my expenses. Although the total amount of sats that I am holding is increasing. In the long run I agree that 1 BTC = 1 BTC. Because it is true and undoubtable. However, in short term I am heavily dependent on the fiat value of BTC since more than 90% of my net worth is stored in this asset. Hope I could point out the essence. 🙏🤙
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0 sats \ 0 replies \ @nikotsla 17 Oct 2023
Sure, that is why I point to the real solution, merchant integration, so you don't have the extra step to "sell" btc to pay for services. We remove the middle shitcoin.
We need to push for hyperbitcoinization.
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53 sats \ 0 replies \ @Zepasta OP 16 Oct 2023
$65 million $BTC liquidated within minutes.
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26 sats \ 0 replies \ @grayruby 16 Oct 2023
Imagine the day that Bitcoin is part of the passive inflows basket that pension funds and other institutions allocate to daily as forced buyers coupled with the fact plebs are already buying all new issuance.
Ignore the trader/speculator games.
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131 sats \ 3 replies \ @rod 16 Oct 2023
The market makers are nothing but cunning, this could have been planned to test the effect of the news and understand the buying a selling pressure that will be generated to be ready to drive the price to target.... Blackrock and Fidelity are not small companies their resources are vast and therefore they will be able to create buying pressure and sell pressure at will for some time.
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81 sats \ 2 replies \ @SpaceHodler 16 Oct 2023
Interestingly, the price of MSTR went up too. Some people say an ETF approval may be bad for MSTR, because shareholders would move to the ETF. Today's 'test' showed that's not necessarily the case.
For me it's relevant, because I have some funds in a pension I can't withdraw until a certain age to buy real BTC, but I can buy MSTR within it (and where I live, the ETF won't be available to me anyway).
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100 sats \ 1 reply \ @343pg 16 Oct 2023
I’m in the same situation. I think it’s likely that the flow of new money into new ETFs would have a positive effect on btc and therefore MSTR, and outweigh any realignment from investors away from MSTR like you say.
There are definitely risks to holding MSTR as a Bitcoin proxy, but even if I could access an ETF I think I’d still own it.
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7 sats \ 0 replies \ @sb 16 Oct 2023
This is exactly my thesis for MSTR. The market dilution effect from the ETF approval is likely to be offset by the capital flowing into Bitcoin, the asset class
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0 sats \ 0 replies \ @TheBTCManual 17 Oct 2023
Lol some people had to have lost money in that fake news pump, gosh people are really desperate for any action in this market
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0 sats \ 0 replies \ @quark 16 Oct 2023
There has to be legal repercussions for Cointelegraph. You cannot let things like this happen. Right?
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0 sats \ 1 reply \ @kristapsk 16 Oct 2023
BTC/USD exchange rate change in absolute USD value is not what matters, percentage of change is what matters.
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0 sats \ 0 replies \ @Bitwit 16 Oct 2023 freebie
True
0 sats \ 0 replies \ @SpaceHodler 16 Oct 2023
But why did Cointelegraph post this? Were there in a bad financial situation and needed to make a quick buck with a leveraged long?
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0 sats \ 0 replies \ @edulopesf 16 Oct 2023
SEC approved an ETF based on Bitcoin thus creating desire for large equity funds to buy Bitcoin (as well traders).
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0 sats \ 0 replies \ @BITC0IN 16 Oct 2023
just a normal day in Bitcoin
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0 sats \ 0 replies \ @orthwyrm 16 Oct 2023
Be careful out there - we're living in an age of information warfare. ETF speculation is largely harmless to non-traders, but other things are much more serious.
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