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RE: SUPERBOWL - buy a rumour and sell the news. Is this what's driving BITCOIN PRICE?

in Project HOPE2 years ago

@crypto.piotr I dont necessary think that this is the only reason that is determening the Bitcoin price action at the moment. I do think though that this event will bring a bunch of new people into the crypto space.
With that being said, I highly doubt that they will go after Bitcoin. I imagine that a bunch of people will se these advertisments and dump their money into altcoins because they want to gamble.

You might be completly wrong with your exit liquidity assumption and I do believe that the week after the SuperBowl will be a red one, especially with the FUD around Ukraine and potential interest rates increases. This might be a good opportunity to take some profits but it is always difficult to time it right.

On the funny note: It is quite refreshing to see that not everybody on the world heard about the Super Bowl. I guess it is not the most popular sport around the world then :D

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 2 years ago 

I dont necessary think that this is the only reason that is determening the Bitcoin price action at the moment. I do think though that this event will bring a bunch of new people into the crypto space.

Agree with you @ga38jem

My goal was to warn readers, that such an event can (and most likely will) be used by many whales to take profit without crashing the price of BTC. And those who will buy BTC or altcoins now may end up being nothing but "exit liquidity" for those large players.

You might be completly wrong with your exit liquidity assumption and I do believe that the week after the SuperBowl will be a red one

I surely may be completely wrong. But if I'm wrong then the week after the SuperBowl would be in GREEN. And I do expect it to be red.

Cheers, Piotr

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