[Daily Discussion] – Wednesday, June 29, 2022

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[Daily Discussion] - Wednesday, June 29, 2022

26 thoughts on “[Daily Discussion] – Wednesday, June 29, 2022”

  1. Is it even worth asking wtf happened on the Twitter space that is being talked about? Haven’t seen a good summary yet.

  2. https://twitter.com/forbescrypto/status/1541877244527886337?s=21&t=TvZ_PoQX9hDGCWScWJHNig

  3. Probably doesn’t mean much but it’s looking like BTC will likely close below the 50 month moving average for the first time ever.

    In 2015 BTC tested it several times but always closed back above.

  4. So THIS is really goblin town huh? 30k was just a small taste. Oh well, looks like we’ll be here for a good while. At least I can lower my average quite a bit while we’re here

  5. My daily, ‘the bottom is in post’, since the bottom on the 18th of June

  6. My advanced white arrow prediction is coming along nicely: https://i.imgur.com/5UNyxx2.png

  7. Just exited a small naked short from just above 21K. Still short but only as a hedge on my btc value. Edit not a naked short

  8. Wait for the July CPI report on the 4th before DCAing…

    Edit sorry I meant the 13th. Of course the US is closed on the 4th!

    My thinking is that if the inflation numbers are higher, then it could cause more downside due to the subsequent rate hike that will come from the Fed, and it’ll be 75bp at least

    If inflation is flattening, rolling over, then it might give the market hope that we’re getting towards the end of the worst and provide some price support.

    Anything before then is pure guess work.

  9. Hey Traders… So I try to build a useful tool per week for the crypto community.

    Goal: Give a somewhat realtime look into arbitrage opportunities in crypto on one page.

    Current state: https://asset.gift/tools/arbitrage-map

    Question? What simple features should I focus on for the next few days. My current thoughts:

    i) Include more assets / trading pairs

    ii) Include a way to select two exchanges at a time. Right now I have CB and Binance but if you could use a dropdown and select Binance and Bitstamp for example.

    iii) Style the table with colors to know when something is going up and down.

    iv) Incorporate exchange rate data (I have access to it but not sure how to make it digestible).

    I want to get this to a decent state and just leave it out there soon — am I on the right track? Is this a dashboard you would use (again completely free).

  10. My comment from the bear of 3 and a half years back is still a question that tickles me.

    https://www.reddit.com/r/BitcoinMarkets/comments/argwf6/daily_discussion_sunday_february_17_2019/egohh18/?context=999

  11. > MicroStrategy has purchased an additional 480 bitcoins for ~$10.0 million at an average price of ~$20,817 per #bitcoin. As of 6/28/22 @MicroStrategy holds ~129,699 bitcoins acquired for ~$3.98 billion at an average price of ~$30,664 per bitcoin.

    https://twitter.com/saylor/status/1542117682207678465

  12. I think one factor which makes crypto volatile and have deep draw downs is that large holders who have no ideological reasons for hodling, are more easily led to sell in a perceived downtrend as opposed to in a similar scenario for a stock. That is because in a stock, large ownership also brings about some ability to exert control on the company governance whereas the same is not true with owning BTC. So, loss of that ability to control is weighed up against losing paper gains in the case of stocks whereas in BTC, a decision to sell is easier in this regard if convinced that the shortterm price trajectory is downwards.

  13. “Policy panel” at the ECB forum live right now: https://www.ecb.europa.eu/pub/conferences/html/20220627_ecb_forum_on_central_banking.en.html

    • Jerome Powell, Chair, Federal Reserve Board of Governors
    • Christine Lagarde, President, European Central Bank
    • Andrew Bailey, Governor, Bank of England
    • Agustín Carstens, General Manager, Bank for International Settlements
  14. Slow clap for the US FED for pushing the US into a recession. 👏

    https://uk.investing.com/economic-calendar/gdp-375

  15. I think its time to officially start thinking “This time it’s different”, its the longest that BTC has been below the 200W MA and with probably more downside on stonks, BTC could tumble even more.

  16. Seems like the easiest fix for all of this global chaos would be another lockdown. [ducks for cover]

  17. Taking a small long here with tight stops, target 20.6K ready to bail out at short notice

  18. BTC.D slowly inching up. Possibly indicating the start of the end of forced liquidations?

  19. Juneteenth long weekend dump kicked off with massive dump out of the Canadian purpose Bitcoin ETF just before market close on Friday close… Without institutions being able to soak up the sales cause they were closed, the price crashed hard over the weekend triggering many a liquidation… Here we are two weeks later entering into an even bigger longer harder long weekend with both Canada day Friday July 1, and Monday 4th of July independence day and Bitcoin looking like another puke is on the way… Time to go short comrades.

  20. Row row row your boat gently down to goblin town, merrily merrily merrily merrily, a relief rally is but a dream.

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