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13588440 No.13588440 [Reply] [Original]

>this is sustainable

I call this the "I'm buying exit scam chinese bags without even knowing it" pattern.

>> No.13588443

>>13588440
no its the pump btc with tether while i exit pattern

>> No.13588453
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13588453

>>13588440
>exit scam Chinese bags

>> No.13588457

>>13588440
Tether is pumping the market before the inevitable crash. You're all going to get burned. bitcoin is going to sub $1k.

>> No.13588472

>>13588440
>>13588457

It makes me so happy to know you're getting squeezed, you stupid faggots

You missed the bottom at 3k forever and always, let that sink in

>> No.13588488

>>13588443
>>13588457
Tether almost at parity with usd. Less thatn $50 difference between coinbase and binance. You can think what you want about this being an over extension and that it's going to dump soon, but don't delude yourself into thinking this is just tether doing it.

>> No.13588504

>>13588488
The pump is the definition of inorganic. They are pumping their bags and going to exit scam before they all get arrested. It's OVER for bitcoin. Accept it

>> No.13588516

>>13588504
Go back to shitposting on twitter bitfinixed.

>> No.13588531

>>13588504
Fighting the tape is the #1 sign of a newshit brainlet

>> No.13588543

It's also the money from alts going into Bitcoin that's causing the climb.
We're not seeing all that much new money entering the market. It'll be very interesting to see what happens to alts when this dumps. If the money doesn't flee back into them, then we're going to see an absolute bloodbath with alts.

>> No.13588561

>>13588543
That's not the way alts work.

>> No.13588591

>>13588561
That's the way they've been working for the duration of this climb though. Look at the total market caps.
Alts go slowly down while the total mcap of crypto barely creeps upwards. It's money shifting from alts into BTC causing alts to hit even lower lows. If the money doesn't go back into them once BTC corrects, then we're going to see them dump even lower than where they're now.

>> No.13588620

>>13588543
That's not how it works. On the other hand, as far as I'm concerned alts never actually capitulated after the bubble popped, so a lot of them will bite the dust for good this time

>> No.13588643

>>13588591
You're right about that, however moving money from alts into btc doesn't do anything for the price of btc. I was disputing the first sentence.

>>13588620
A lot of alts have eaten it pretty hard. Not much room for them to fall without completely dying like you said.

>> No.13588690

except it's been pumping since january

>> No.13588753

>>13588440
Just as sustainable as crypto dropping 90%

>> No.13588754
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13588754

>>13588643

You're saying that if we for example move Bitcoins mcap from 60 billion to 180 billion by taking money from other crypto, then we won't see it go up in value?
Of course it raises it's value.
And That's exactly what's going on. Alt money is slowly moving into Bitcoin and alts themselves have been slowly bleeding money ever since the first leg up.

>> No.13588759

>load ze Tether FUD

>But sir, we've already used that one fifteen times I don't think the plebs are buying it anymo-

>I said LOAD ZE TETHER FUD

>> No.13588807

>>13588643
The problem is thinking that ATL (BTC or USD equivalent) is the actual low of most alts, which is not the case. There is not enough "bullrun funny money" to sustain both bitcoin and alts going up at the same time again, this is a shitshow

>> No.13588843

>>13588754
Think about what you're doing when you're buying/selling alts for a second.

>> No.13588882
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13588882

Look at this chart and tell me with a straight face that alts have capitulated.

XRM ROI is 2576%

>> No.13588946

>>13588754
lol buying/selling alts does shit to btc price, it does not affect btc circulating supply in any way, and buying btc with say link isnt the same as pumping btc with fiat, duh

>> No.13588964

>>13588882
this, people forget how insanely high in price some alts still are, we have yet to see the true alt bloodbath

>> No.13589250

>>13588964
>Majority of alts -95%+
>True bloodbath
Keep dreaming bobo

>> No.13589320

>>13589250
This

>> No.13589331
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13589331

>>13588843
>>13588946

You're implying every deal occurs through a BTC/Alt pair.
How much of that market is going through tether or usd? Apparently enough to justify the climb.

Total mcap of the crypto isn't shooting up enough to justify the Bitcoin price hike.
Total mcap went from the highest point of first leg of 185 billion to now touching 195 billion. That's 10 billion and it moves the price of btc about 600$.
Bitcoin price went up from being at 5.3k @ 92 billion mcap to 6.4k @ 113 billion during the same time. BTC grew 20 billion and 1.1k despite the total mcap going up only 10 bil during this time.
So Btc got roughly 10 bil from the alts in the form of Fiat. Otherwise it wouldn't have been able to climb like it did.

It does benefit from the alt market bleeding into it and enough trades seem to be done through dollars instead of a direct Btc/alt pair.

>> No.13589459

It's the "Oh SHIT, I missed the bottom again" pattern