Since my entering into cryptocurrency speculations about three months ago, I've started to love conspiracy theories. Especially the theories of my own, of course. I've already made a couple, and I feel fun to bake some more. After all, at the end of the day, my theories might come true!
The law forces companies to disclose some financial information. The tax authorities can force a company to back its every buck with a shitload of accounting papers, publicly traded companies must make some finance info publicly accessible, and so on. However, afaik no law requires the CEO to share his company's financial info publicly on Twitter. If a CEO does it -- he does it on his own. And when he does it, there comes a good question: "Why?" The question is even better if we remember that in really big companies CEO doesn't blahblah without consulting with advisors, PRs, and lawyers first.
Anyway, two days ago Mr. Saylor of Microstrategy twitted about purchasing 2574 BTC at about $19427 per item. Mr. Saylor even attached an official proof of his words.
Well, to me the execution price of this order doesn't look that great, I think, a skilled trader could get a better price. But let's believe COINBASE (or whoever it was) really made their best to fill Mr. Saylor's $50M order. If we look at the average price of the whole stack -- it's about $11600, not that bad at all. And 2574 BTC is only about 6.3% of Microstrategy's total stack. And Mr. Saylor is happy, after all.
Ok, back to my conspiracy. As I stated in my earlier articles, apparently there're some big guys who decided to make big bucks on BTC. That is, they're going to buy it low and sell high. And "high" here means not "+10%" but "2x or 100x or whatever". Very high. And they actually don't even need to sell their Precious at that "high" because when you seat at a pile of constantly appreciating shit, you don't need to sell it to get some extra cash. To sell it for cash would be simply stupid then, actually.
The guys are going to have their "high" by controlling most of BTC free-float. Yup, call it "corner", "conspiracy", "price fixing", "monopoly" or whatever. When you control the free-float, you can drive the price of your shit to wherever you want (if people believe in your shit, of course, but it's another question).
However, as of today, the buying process has somehow paused. Apparently, the guys are not yet ready to buy at ever-rising prices. On the other hand, they say there's a "sell wall" at about $20K. Who made that wall? The big guys who don't want the price to go higher until they accumulate enough BTC, or it was large hodlers who now want to avenge their missing ATH in 2017?
In any case, personally, I don't expect any new ATHs soon. In theory, today it's better to ram the wall with orchestrated pump&dumps forcing the impatient hodlers to sell their stacks to trading shrimps and then shaking BTC pennies out of shrimps' pockets. There's no need to hurry to a new ATH no matter what, now it's "accumulation time", and it can last quite long. After all, it's easy to wait several months if you wait for it in a good house or even at a seaside villa.
Posted Using LeoFinance Beta
