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RE: Why Bitcoin Could Fall Lower From Here

in #bitcoin7 years ago (edited)

I think the whales are priming the market for a nice discount on BTC for 2018. If they make the first move in and allow the price to rise, it will be a very fast move upward to try to discourage Joe Six pack from joining the party. Most of the seats in BTC that were vacated by weak hands and fair-weather fans in December's correction will be occupied by the new wave. Despite this new unprecedented upsurge, many Joe Six packs will jump on board to create another socially irresponsible fever pitch around the 50-60k mark. Uber drivers and hair-dressers will be talking again about their bitcoin which will signal another dump to 30k as futures traders win on the short side to gather more powder to buy the dip for the upside. The whales will continue to shear the sheep as long as its profitable. As each cycle of shearing transpires, more and more BTC will be concentrated into fewer and fewer hands. The layperson will become exhausted and disillusioned with the incessant crypto volatility; instead of being sheared, many of them will feel they got skinned and never return to BTC, which will be known as the elite's cryptoasset.

Once a predetermined majority percentage of BTC is owned by a conglomerate of like-minded elite, the cycle of shearing will cease and BTC will finally be allowed to be what it was destined to be: the world reserve currency, supplanting gold and the IMF SDR. National central banks will yield to the notion that BTC is a viable store of value and normal supply and demand will return, only this time, central banks with trillions in capital will be in play. As each central bank aggressively competes for its nation's share of this vanishingly small pie, the price will spike to unreal levels, further ossifying BTC's central role in the world economy. To paraphrase SelectQuote: "When central banks, corporations, Wall Street, hedge funds compete, you lose...UNLESS YOU HODL'd."

At this point, S Nakamoto will realize his vision has been twisted and will flood the market with his/her/their 1million BTC as a last ditch effort to reset the system. He will telegraph his intentions to the masses by ravens with the code words: "Winter is coming."

You have been warned.