/biz/ - Business & Finance

[Anonymous No.55995600]

Chainlink has hit a key level that has historically foreshadowed a price rebound. Presuming Bitcoin and the overall crypto sector stays relatively stable, LINK's drop in exchange supply (currently just 15.5%) is hinting at a bullish divergence.

[Anonymous No.55995659]

>>55995600
Is this a 'exchange supply drop' because people don't trade it no mo and withdraw, or because the supply has truly been bought?

[Anonymous No.55995692]

>>55995659
Supply's been withdrawn.

[Anonymous No.55995728]

>>55995659
Price goes up when exchange supply is low because exchanges artificially increase supply with IOUs. If you hold any coin on an exchange you do not own the coins you own IOUs, only when withdrawn from an exchange you redeem the IOUs, so by getting coins off the exchanges the inflation from IOUs is reduced and price goes up.

Exchanges are literally fractional reserved banks

[Anonymous No.55995754]

No amount of TA matters when it comes to LINK this shit is manipulated as fuck I have completely given up on any form of TA or indicators in regards to LINK. I keep stacking because the fundamentals are the best in all of crypto and it has the most bullish real world use case.

ATTENTION NEWFAGS AND /POL/FAGS (same thing) DO NOT BUT LINK IT IS A FUCKING RUSSIAN SCAM AND NOTHING BUT A GLORIFIED JSON PARSER I REPEAT DO NOT BUY CHAINLINK!!!!!!!

[Anonymous No.55995811]

My neme'-neme', ooh, my neme'-neme'-neme'
My neme'-neme', ooh, my neme'-neme'-neme'
I used to sit alone doin' evil all day
But now I think there's someone gonna get on my way, yeah
There's someone in my life that doesn't want me to exist
My neme'-neme', ooh, my neme'-neme'-neme"
And I feel fine 'cause I've got a nemesis
My neme'-neme', ooh, my neme'-neme'-neme'
My neme'-neme', ooh, my neme'-neme'-neme'
Now I hate him, and he hates me
What a wonderful animosity
Besides his hat, he wears no clothes
Now I have someone to oppose
Yes, I have a nemesis
My neme'-neme', ooh, my neme'-neme'-neme'
My neme'-neme', ooh, my neme'-nemesis

[Anonymous No.55995823]

>>55995754
Is there a compilation of the Jason Parser and Chad O'Fork lore?

[Anonymous No.55997737]

>>55995728
>exchanges artificially increase supply with IOUs
how?

[Anonymous No.55997744]

>>55997737
kek anon what do you mean how

[Anonymous No.55997745]

Imagine being new enough to try doing ta on an altcoin?

[Anonymous No.55997816]

woah black betty bam a lam

[Anonymous No.55997830]

shitlink will never be at 10$

[Anonymous No.55997848]

>>55997737
Here's an example, anon. Customers had 80,000BTC on FTX.
How many BTC was FTX actually holding? Zero. None. Literally none.
So what happened if you were an FTX user and you wanted to withdraw your 4 BTC? While the transaction was "processing", FTX buys 4 BTC and sends it to you, giving you the illusion that they are holding everyone's BTC for them.
But FTX absorbing 80,000BTC worth of Bitcoin buy pressure, and NOT spending it on Bitcoin, means that the Bitcoin price is not reflecting organic demand, and is actually kept artificially low by the exchanges who aren't buying it on their customers' behalf.

Which is why you're a fucking retard who is literally suppressing your own chance of making it if you use a CEX.

[Anonymous No.55997906]

Exchange supply is a fucking meme metric.

[Anonymous No.55997944]

>exchanges
why would you ever think this means anything for premined alts like link?

[Anonymous No.55999456]

>>55995600
>doing TA on alt coins
holy fuck youre a retard

[Anonymous No.55999483]

>>55995600
I don't have any LINK stinky tokens but holy shit how is this SWIFT news not posted on every news outlet ? it's unironically a big deal.

[Anonymous No.56000469]

>>55999456
this isn't TA, retard

[Anonymous No.56000503]

>>55995600
their own charts shows three distinct instances of the exchanges supply dropping and the price did nothing/dumped
not to even mention that santiment has been posting "bullish" on-chain analyses for 3 years now, yet absolutely nothing fucking happened