Legacy Money, Bitcoin 2021 and Beyond

in LeoFinance5 months ago (edited)

I have a theory about what is happening in the BTC market. BTC selling pressure has not been sustained by FUD. The downward pressure doesn't stay. Time after time, some people sell off BTC to apply downward pressure. It seems like they are trying to force a downward pressure like in 2018 so they can buy back in later at a lower price.

What I think is expected is for others to follow suit after seeing all the selling happening, a bandwagon bias effect to create the bear market and huge price drop.

"Oh damn, look at that big red turn on the market, I better jump on the bandwagon and get out now before the price drops more."

But so far, there haven't been many takers of the downhill bandwagon. Each time there is some large selling, it get bought back up either shortly after, in the next few hours, or in the next days the pumping starts again to send BTC even higher.

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There is big money buying up these dips, the legacy money from the legacy economy. This is thought to be institutional money from the old-market (contrary to the new-crypto market) trying to get out of the humungous bubble of the mainstream markets and get into what is perceived to be the safer future of the crypto market.

My theory is that these old-money people are trying to get out of the failing system and into the new money - BTC/crypto. They are buying up as much BTC as they can. They foresee the price going higher, and will buy at these all time highs.

"Oh, you want to sell. Please do, I'll buy it up, and keep it at these levels. Then when the bubble pops and everyone ruses into crypto to create the hugest bull run ever, I will have still bough BTC when it was lower while these people are getting in late."

Some may be buying up large quantities now which has created the current bull run, but it will be a small bull run compared to the mainstream-market exit when the mainstream bubble pops.

So they are fine with the prices increasing. I think they will keep buying up BTC but more slowly. If the holders want to try to create a bear run FUD, they will stop it buy buying it up and bringing it back to around the same level.

The new buyers may also stop doing so at some point, and create the FUD bear run. Then as more people sell and drive the price down to, say, $10k, they will buy it up at even lower levels, waiting for the mainstream old-economy market to crash and everyone to rush into crypto and BTC especially.

The USD and other fiat currency of the old-world economy are on their last legs as I see it. The economic bubble is huge. I think it's going to pop within the next decade and create lots of chaos and suffering in it's wake. We have the money manipulators and masters to thank for creating this over the past 100 years, along with everyone else playing into their games driven by the greed of wanting to make money no matter how it was done.

But that depends on reality mattering. Evidence from the past 12 years shows that reality doesn't really matter and they just create bigger bubbles by not letting the previous bubbles crash into the ground of reality.

Nothing is certain. But this is how I see things. What do you see?

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I see the same as you. These BTC now leaving exchanges for good. Why would I sell my BTC if it keeps giving me interests every day? The higher it goes the more I'll get, and the tighter I'll HODL.

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Holding is safest bet indeed. Hindsight will tell us if it was better to sell an buy in when it got lower (like after 2018)... but hey... it might never go below $35k, $30k, who knows lol.

Then as more people ell and drive the price down to, say, $10k, they will buy it up at even lower levels

So there is still a chance that BTC may go to 10k ? Honestly, I never expected this new ATH so soon.

There's a chance for anything. The market will move with who has money to spend to buy BTC, and who wants to sell their BTC. Anyone else doesn't matter. We can try to divine what their motives are, and what their behavior will be, but we can't know. Maybe it will never go below $30k again...

this is only one thing: Proof that dollar cost averaging is idotic. In a Market like Bitcoin it is fine to buy only when there was a 20% Dip. Price levels dont mean a thing.

I might be wrong, but i think that the "crypto" is going well because the counterpart cannot fuel money into or out in order to create "fake-bubbles".. so i believe that the BTC as well as the ETH will keep a bullish position in the next future, moreover, there are rumors about using blockchain to fight fake-news, now if this will happen soon, i believe that the blockchain can really become the next source of money for human beings.. so i will hodl :)

They can't create tons of the money out of nowhere indeed.

Blockchain to fight fake news is not good for freedom. It's a tool for telling people what is or isn't true just because they say so, decided by those who have access to write to the blockchain and expect everyone else to simply adhere to their "fact checks" of what is real or not.

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interesting point of view... i will dig deeper.. thank you

I got invested in Hive and Lassecash... SHOW ME THE MONEY!!

www.ilovelassecash.tech

I'll show you the money, it's in your wallet. Your money is now invested in tokens :P Good luck in your investments.

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Ok thanks for showing me the money:

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lol

Nice. I do hope it all works out like you want. I stick to BTC from now on :P Maybe I'll get into LEO and sell all my HIVE :D

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