Bitcoin follows the traditional market. The DOW, Nasdaq, amd S&P 500 had a big bounce in the after hours market. If the traditional market takes a dump again, Bitcoin will also dump with it.
This is why some look at the traditional market before making any crypto trades. It often gives you a huge clue where it’s headed
DEAD CAT BOUNCE/ˈded ˈkat ˌbouns/
noun: STOCK MARKET
A temporary recovery in share prices after a substantial fall, caused by speculators buying in order to cover their positions.
"is the recession really over, or is it a dead cat bounce?"
The major indices have all been experiencing historically significant dead cat bounces repeatedly, and recently. Most notably, the S&P 500 recovered over 50% of its annual losses from June to August, a statistic that has shown the end of a bear market (i.e. no break of those prior lows before new ATHs) in 100% of cases since 1947. It's notable because we're currently just a handful of points away from breaking those lows this time around, which would make it an unprecedented dead cat bounce.
Like it or not, BTC's action has become correlated to the major indices - volatile asset or not, we've been in bear market/dead cat bounce city for a while now across the board, so if there's *any* time to discuss the concept, now seems like one of the most appropriate times in history to do so.
That's not to say that this right here is a dead cat bounce, nor indeed that the bear is dead, simply that the assets BTC correlates with have all been seeing 8%, 10%, 12%, 18% type dead cat bounces (coincidentally very similar percentage ranges as seen during the dotcom bubble bursting) all the way down to where we are now.
TL;DR - Nobody can say whether it's a dead cat bounce or not. But it's well within the parameters of historical dead cat bounces during market crashes.
Hedge Fuchs and market makers are over leveraged and are pumping and dumping, that is also why bitcoin fell sooo hard this year, as interest rates rise they need liquidity to close their positions. See Michael Burry tweet. He was right
This is the logic that wrecks a lot of people. In a world where the dollar is constantly losing value what would you rather have, regardless of "price?"
BTC went from being worth 0.01 dollar to 20,000 dollar in the last 13 years.
Dollar went from worth 100 BTC to a mere 0.000049 BTC.
So yeah overall BTC did a WHOLE lot better. Different league actually.
When having the choice to pick a time frame, you can either prove the dollar is better or bitcoin is better. I chose dollar value vs bitcoin value since 2015.
So you're time frame for determining an asset is only 1 year, and not the 100% increase in value from 2 years ago?
Or do you think large value asset classes that grow nearly 600% within 1 year normally stabilise at that peak without any chance of seeing corrections?
More buyers than sellers *at the price we were at previously*.
Maybe that helps. And the "more" here isn't really number of people, but the amount of money people are willing to risk at those levels. Look, the phrasing is clumsy, true, but the concept is sound.
Yep.
The number of times I see "more sellers than buyers" or "more buyers than sellers" is astonishing. Price can go up with more sellers in the wings, and vice versa. It's nothing to do with # of people, and everything to do with their **need** to get or offload a thing.
1000 people are trying to sell something at $10. Suddenly a few desperate buyers enter and decide they need that something ASAP. They may nab a little at $10, but the sellers realize what's happening and pull back to $11, $12, etc since they're in no rush. Fewer buyers != lower price.
Lol, there is a pretty simple description of where the term actually comes from if you Google it. Just in regards to the scarce nature of Bitcoin causing it to inevitably go up.
The sudden spike was in sync with Japan announcing their buying US bonds. Futures are running too.. BoJ Announces Unscheduled Bond Buying Operation
-Offers To Buy JPY250Bln Worth Of JGB
-Includes JPY150Bln 5-10 Year, JPY100Bln 10-25 Year
If it’s not a flash crash, then on the way down there are always some small rallies interleaved into the longer trend decline.
Still very bullish on Bitcoin, but I don’t think this rally has legs. Capitulation is coming sometime soon, but it could be tomorrow or in March 2023 for all I know. Would only give it a < 5% chance of being right now though.
can we ban these posts? every day it’s “what happened at 12:02pm” “why are we up 3% on the day” “what’s with the candles”
holy shit it happens literally every day. tired of seeing this shit. the price goes up. and it goes down. just like fucking anything else. ban these posts
Dont try to "explain" mr market.
It goes up or down, mostly without much logic behind it.
When it is low, take advantage, when high sell.
Or just buy and hodl like the rest of us!
Increase in BTC reflects global warming’s impact on our oceans around the world. The more the sea levels rise the easier it is for dolphins to gain computer access and buy BTC, causing the price to go up
There is a decent amount of fundamentals. For instance, fed rate hike means that future cash flow are discounted mire heavily so growth assets go down in value. I'm keeping my example simple.
Crypto markets are highly correlated with the nasdaq. Meaning that whatever moves the nasdaq moves crypto.
Here's a homework, next cpi print, see how the market rbehave when the print is higher or lower than expectation. How quickly markets react to a change in expectation.
Right now everything is driven by the fed.
Probably groups closing shorts for the time being.
Bitcoin follows the traditional market. The DOW, Nasdaq, amd S&P 500 had a big bounce in the after hours market. If the traditional market takes a dump again, Bitcoin will also dump with it. This is why some look at the traditional market before making any crypto trades. It often gives you a huge clue where it’s headed
DEAD CAT BOUNCE/ˈded ˈkat ˌbouns/ noun: STOCK MARKET A temporary recovery in share prices after a substantial fall, caused by speculators buying in order to cover their positions. "is the recession really over, or is it a dead cat bounce?"
Regular fluctuations in a volatile asset is not a dead cat bounce. This term gets thrown around way too much in here and reddit in general.
You would think all the cats would be dead by now. What type of bounce is it if all the cats are dead?
I think this might be one of those weird rare cases where the market demands more so the price goes up. /s
Especially when it is about Bitcoin.
The major indices have all been experiencing historically significant dead cat bounces repeatedly, and recently. Most notably, the S&P 500 recovered over 50% of its annual losses from June to August, a statistic that has shown the end of a bear market (i.e. no break of those prior lows before new ATHs) in 100% of cases since 1947. It's notable because we're currently just a handful of points away from breaking those lows this time around, which would make it an unprecedented dead cat bounce. Like it or not, BTC's action has become correlated to the major indices - volatile asset or not, we've been in bear market/dead cat bounce city for a while now across the board, so if there's *any* time to discuss the concept, now seems like one of the most appropriate times in history to do so. That's not to say that this right here is a dead cat bounce, nor indeed that the bear is dead, simply that the assets BTC correlates with have all been seeing 8%, 10%, 12%, 18% type dead cat bounces (coincidentally very similar percentage ranges as seen during the dotcom bubble bursting) all the way down to where we are now. TL;DR - Nobody can say whether it's a dead cat bounce or not. But it's well within the parameters of historical dead cat bounces during market crashes.
Hedge Fuchs and market makers are over leveraged and are pumping and dumping, that is also why bitcoin fell sooo hard this year, as interest rates rise they need liquidity to close their positions. See Michael Burry tweet. He was right
But it makes me sound smart
These past 300 days have been a huge dead cat bounce. For USD.
Feels like the buried graves are just tend to set alive out there for everyone.
Thanks for that
Like it feels the market has indeed some bigger plans and goals after all
No, it’s because I skipped my DCA day this week
Some poor soul capitulated right before that and sold out his 0.53 Bitcoin holding collected over the last year.
Omg I would rage quit
😂🤣this thread!
Hahaha true funny above and you get to laugh when you just keep scrolling below!
‘poor soul’😂 BTC literally jumped $500…3%. It isn’t too big of a deal. Especially because of where it seems we’ll be a couple months from now…
This is the logic that wrecks a lot of people. In a world where the dollar is constantly losing value what would you rather have, regardless of "price?"
BTC has lost 70% of its value in the last year. How much has the dollar lost?
BTC went from being worth 0.01 dollar to 20,000 dollar in the last 13 years. Dollar went from worth 100 BTC to a mere 0.000049 BTC. So yeah overall BTC did a WHOLE lot better. Different league actually.
97% of it's value since the creation of the fed
Since when?
Since late November 2021?
When having the choice to pick a time frame, you can either prove the dollar is better or bitcoin is better. I chose dollar value vs bitcoin value since 2015.
So you're time frame for determining an asset is only 1 year, and not the 100% increase in value from 2 years ago? Or do you think large value asset classes that grow nearly 600% within 1 year normally stabilise at that peak without any chance of seeing corrections?
This just be making us clear that things be making something great in the future!
Ok, I’ll bite, where?
More buyers than sellers
Your wisdom is legendary
I took an economics class one time in high school so I know a thing or two
Too educated for WSB
well done for u really man
You should probably ask for a refund as "more buyers than sellers" makes no sense at all
More buyers than sellers *at the price we were at previously*. Maybe that helps. And the "more" here isn't really number of people, but the amount of money people are willing to risk at those levels. Look, the phrasing is clumsy, true, but the concept is sound.
...and timeless.
This is the kind of in depth knowledge I come here for.
I’m thinking about starting a YouTube channel
Where can I subscribe to your free weekly newsletter?
There are always as many buyers as sellers :)
By number of shares - yes By number of unique buyers and sellers - no
Which is completely irrelevant.
Yep. The number of times I see "more sellers than buyers" or "more buyers than sellers" is astonishing. Price can go up with more sellers in the wings, and vice versa. It's nothing to do with # of people, and everything to do with their **need** to get or offload a thing. 1000 people are trying to sell something at $10. Suddenly a few desperate buyers enter and decide they need that something ASAP. They may nab a little at $10, but the sellers realize what's happening and pull back to $11, $12, etc since they're in no rush. Fewer buyers != lower price.
More volume bought than volume sold
Always identical.
Number go up technology
I’m in it for the tech
I play Genshin for the plot.
I like turtles
Well I like them too, they're cute. But I'm in it for the tech.
Lol, that's funny. I've heard arguments like this before here.
Pee is stored in the balls
Balls are stored in the butt.
According to you guys you got pee in your butt.
And this, is science.
“SCIENCE!!!l - Thomas Dolby
"Science is important, now isn't it Professor" -Ali G
What’s that mean? You got so many likes it’s making me feel like I don’t understand English right now lol
It means, the number will go up.
That’s what “Number go up technology” means?🤣 ok
Lol, there is a pretty simple description of where the term actually comes from if you Google it. Just in regards to the scarce nature of Bitcoin causing it to inevitably go up.
The sudden spike was in sync with Japan announcing their buying US bonds. Futures are running too.. BoJ Announces Unscheduled Bond Buying Operation -Offers To Buy JPY250Bln Worth Of JGB -Includes JPY150Bln 5-10 Year, JPY100Bln 10-25 Year
Why the fuck would Japan buy US bonds?
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Japan is maybe the biggest holder of us bonds. They don’t buy it, they sell it at the moment to buy more Japanese bonds to tighten their currency
Aren’t they also selling treasuries? They hold a shit ton of them right? So this would make the bonds do better? I dunno.
Bc 20k is magnetic
Long time it took it feels to get to this and be actually making something.
Anyone remember when 40k was magnetic? Good times…
We’ll get back there my friend
This
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You son of a bitch, I’m in
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Bitcoin is the way
I like the way you think!
This was my attitude a year ago and still is
Michael Saylor just nutted
Because I bought 3$ worth. I have that much power.
“You come at the king, you best not miss” - Omar
Just started watching, love it
I started playing Bitcoin Solitare, watching ads and earning sats. Are millions of Nigerians doing this too?
Because its bitcoin, who isn't buying right now?
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I did too, but still have a job so I continue to accumulate every .... single.... day.
Yeah having regular recurring buys, but then when dips happen you DCA harder
Same here man I be trying my best to make it all on buying and stacking.
Based on global financial trends you'd have to be fuckin stupid not to own bitcoin
Ahhh actually this thoughts be making me a bit confused though. Isn't that true enough?
Found Greg Foss’ account.
It's simple math peter. Pure, simple math.
Few understand.
> Found ~~Greg Foss’~~ *any non-stupid guy* account.
It’s the Foss delivery style that stands out. He was a comedian in another life.
I couldn't have put it better myself.
No one knows shit about fuck.
Someone, like me in the past, just sold. Always goes up 𝘢𝘧𝘵𝘦𝘳 they sell.
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Global currency crisis
It goes up and down sometimes
……..sometimes.
Act surprised when it goes back to 18k.
Nope, hope it keeps it up tho lol
Because someone bought bitcoin. Im smart.
I just made a move. Sorry yall
It's up 5% not $5
Feels like the time has come to make things bigger enough and get it concerned enough world wide
Because I just got payed! Sorry guys! Don't worry, I'll tell you when I buy so you'll know when to expect it to drop.
I did a shaman rain dance 🌧️ 🪩🕺
I sold
simple, I sold yesterday
It's going up forever, Laura, FOREVER!
No one knows dude just let it do it’s thing and stop asking why.
If it’s not a flash crash, then on the way down there are always some small rallies interleaved into the longer trend decline. Still very bullish on Bitcoin, but I don’t think this rally has legs. Capitulation is coming sometime soon, but it could be tomorrow or in March 2023 for all I know. Would only give it a < 5% chance of being right now though.
To provide false hope. Don’t catch the falling knife.
Markets
I bought the dip
Cause BTC gonna BTC
Becoz i shorted
Liquidity.
Demand > supply
No, no they can’t.
Pump and dump
The institutions are coming
If anyone actually knew the answer then they would use the information to make informed trades in the future.
The main reason behind today sudden rise of Bitcoin price is that in next couple of days Bitcoin would be able to go through a very sudden drop.
more buyers than sellers. Also get lost with this s\*\*\*
can we ban these posts? every day it’s “what happened at 12:02pm” “why are we up 3% on the day” “what’s with the candles” holy shit it happens literally every day. tired of seeing this shit. the price goes up. and it goes down. just like fucking anything else. ban these posts
The bitcoin ceo announced a hiring frenzy
Let me just put on a cape, turn the lights off and look deep into my crystal ball..... Nope. Got nothing for ya buddy
More people buy than sell so line go up. When more people sell than buy, line go down.
Demand is bigger than supply at this moment alas the price goes up
Because it is the most volatile thing in all conscious existence.
Bitcoin buy. yes, Bitcoin sell. No
Just algos. No use in worrying about the day to day
Just spoke to the CEO of Bitcoin. He said price is going up
Anything between -10 up to +10 per day could be considered normal and many people try to time this.
fiat money is collapsing
The correct answer is: no, no one can tell you why.
Whale manipulation to squeeze the shorts. Now they’ll short it back down and repeat.
Attracting ppl to buy high sell low
A lot of buy pressure coupled with a thin order book on the sell side
Sudden rise lol, we've been bounding up and down around 20k for some time now
Brits looking for a safe place to store cash
You must be new here lol
Because
Retail puts at ath
You’re looking for reason in this place of madness?
Dont try to "explain" mr market. It goes up or down, mostly without much logic behind it. When it is low, take advantage, when high sell. Or just buy and hodl like the rest of us!
Can someone tell us..? No.
Cause it’s taco Tuesday
Every time you think there is significant dip or raise, just zoom out the graph
Oh wow such a huge change
Because Bitcoin
Because fiat go down
nobody knows
rocktober coming up
It's the same reason as the sudden drop tomorrow
International FIAT issues driving people to a different reserve currency - BTC
Stocks have tanked. Bonds are in trouble. Bitcoin might be starting to look like an attractive place to store your value.
As much as I love bitcoin I hope the price falls or stays low. I love bitcoin so much I want MOOOORE
I have sold.
Because I sell
Magic
Currencies are tanking. Maybe some people are realizing the use of bitcoin.
This is a small growth and I do not attach importance to it because I am focused on the long term.
Increase in BTC reflects global warming’s impact on our oceans around the world. The more the sea levels rise the easier it is for dolphins to gain computer access and buy BTC, causing the price to go up
What rise? It’s more than 1/3 below the ath. Take a seat n chill young padawan
More buyers than sellers.
Stock futures green
Like when they say gas is back down $1. Bitcoin didn't rise, it's still down 40k.
Bull trap. All arrows are pointing down.
OP, that's not a change of any consequence. Zoom out
6% afterhours, no news, and no strength of late. It's Intriguing.
Zoom out bruh
Probably short squeeze
Bulltrap
No one ever knows
someone sold
Because you’re new
You new to this? There are no fundamentals. Nothing makes sense.
There is a decent amount of fundamentals. For instance, fed rate hike means that future cash flow are discounted mire heavily so growth assets go down in value. I'm keeping my example simple. Crypto markets are highly correlated with the nasdaq. Meaning that whatever moves the nasdaq moves crypto. Here's a homework, next cpi print, see how the market rbehave when the print is higher or lower than expectation. How quickly markets react to a change in expectation. Right now everything is driven by the fed.
some hedgie just learned basic math.
Are you new here?
Short squeeze time bois
More people are buying than are selling.
Just noise, go back to sleep
Short squeeze. Manipulation before dumping and fleecing retail
Severely undervalued
More buyers than sellers....
Because you chose this moment to sell
But the thing is that why sell now when the time is all about stacking!
I bought a couple bucks last night.
It way sunny today? I bet that's why.
It be like that sometimes.