What a crazy ass day.
First Bitcoin hits $40k, and we get aggressive unit bias dumping met by equally aggressive bot-buying. Then Trump concedes the election to avoid getting kicked out of office for inciting an insurrection. The market dumps hard again... met with strong-handed zero-panic buying.
Can you believe how bad it would have been if he was removed from office forcefully 2 weeks before his expiration date due to being "unfit to lead" under the 25th Amendment? He looked legit worried in that concession speech; like he had stepped on a landmine plunger and was waiting for the bomb-squad to come defuse it.
Trump has a part to play.
He finds himself in command of millions of right wing zealots. The guy is obviously going to start a cult or some shit after this is all over. All he needs to do is keep catering to his diehard fanbase. Trust the plan, fellas.
As far as the market goes...
I hope we can all see what's going on here. Every time the market panic sells that panic is met by strong handed bots gobbling up all liquidity via algorithm. Bots don't panic. Bots don't care what Trump does. These bots have been instructed to buy, and the accounts controlling the bots seem to have infinite funds. Gee, I wonder what's happening here...
Michael Saylor is leading the charge, and if we think moody Musk is the only one he's giving advice, we are kidding ourselves. He's literally running around shilling Bitcoin to every CEO with reserves, talking how to buy Bitcoin with "thousands of Off-chain Transactions".
"Off-chain transactions"
Also known as buying Bitcoin off an exchange like everyone else. Can you believe this guy? Pretty funny. It's like calling the guy at Subway a "Sandwich Artist"
Color distribution technician
In any case, we need to think about this logically and with a cool head. These buyers of Bitcoin at double the all time high certainly seem comfortable, and so should we.
Who are the buyers?
Institutions and corporations. Entities with an endless supply of money compared to even this inflated market cap. They are using bots to programmatically buy up all this panic dumping in the most efficient way possible.
Are these the kind of people who FUD when the price crashes 30-50%? Quite the contrary, they'll be buying more if they have any more funds left to dedicate. At the worst they'll just stop buying and let the market panic like it normally would.
Bottom line, the big entities buying at this level are going to hold for at least a year. Maybe longer. Maybe forever. Institutions know how to safely leverage assets into debt. Why sell a unicorn asset when you can whip this mule and work it to the limit?
Don't be a Donk
Who are the ones selling? Fearful holders. Whales who are looking at double the all time highs, blinded by the fact that the entire point of Bitcoin is to take the power away from the entities buying right now. Blinded by greed and fear.
When you are fighting a literal financial war and your enemies capitulate, do you let them come to the table on equal terms, or do you make them pay everything they've got to get in on the action? Apparently the answer varies from holder to holder.