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Entire crypto market seems very volatile in this time!

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KJK

Entrepreneur
I think you don't understand the situation. There is literally 0% chance that "all hedge funds are shorting Bitcoin". What does the article say? It shows a chart saying net nominal position of hedge funds in futures is negative. That is absolutely to be expected, especially thanks to vehicles such as GBTC (Grayscale) and their 6-month lock up period.

You can read more e.g. here: Grayscale Trust and ‘The Effect’ on Crypto Prices

This is not evil, mad, price surpressing or a bad sign. Same thing is happening e.g. in gold or in silver. The same thing is also happening in options - say you buy a call option (on GME as it is now the best stock in the world), the option seller on the other side will want to "hedge" its delta position by buying some stock themselves as they just sold you the call option. Therefore this option seller will now appear to behave as a "hedge fund" with an opened long position whilst in reality they do not care at all about the price and only want to make money on the premium.

The situation with Bitcoin is different because as a hedge fund you can be long/short in three different asset classes (actual physical Bitcoin, Bitcoin futures, GBTC ETN) which creates like 6 different scenarios and none of them will show you the true market sentiment. So the entire article and the chart in it is bullshit.
 

nomad999

Entrepreneur
I think you don't understand the situation. There is literally 0% chance that "all hedge funds are shorting Bitcoin". What does the article say? It shows a chart saying net nominal position of hedge funds in futures is negative. That is absolutely to be expected, especially thanks to vehicles such as GBTC (Grayscale) and their 6-month lock up period.

You can read more e.g. here: Grayscale Trust and ‘The Effect’ on Crypto Prices

This is not evil, mad, price surpressing or a bad sign. Same thing is happening e.g. in gold or in silver. The same thing is also happening in options - say you buy a call option (on GME as it is now the best stock in the world), the option seller on the other side will want to "hedge" its delta position by buying some stock themselves as they just sold you the call option. Therefore this option seller will now appear to behave as a "hedge fund" with an opened long position whilst in reality they do not care at all about the price and only want to make money on the premium.

The situation with Bitcoin is different because as a hedge fund you can be long/short in three different asset classes (actual physical Bitcoin, Bitcoin futures, GBTC ETN) which creates like 6 different scenarios and none of them will show you the true market sentiment. So the entire article and the chart in it is bullshit.
thx, appreciate the detailed explanation !
 

exprtadvisrdev

Silver Member

Mass adoption imminent LOL
Even tho I critize lot of crypto bull propaganda, I gotta say that cryptos can't be stopped just like they can't stop drugs, abortion or stuff like that... as soon as a market wants something there always be someone who sell it, prohibiting it will only make the price in those places higher like selling cash or US dollars in Venezuela
 

nomad999

Entrepreneur
Well good luck banning something in india even more so bitcoin lol, if anything this is the best advertising campaign we could have hoped for smi(&%

This is interesting, visa embracing bitcoin and stablecoin in their q1 earning conf call.

Meanwhile in Pakistan ...

Being a bitcoin bull is way too easy lol smi(&%
 

JackAlabama

Entrepreneur

Mass adoption imminent LOL
that is good publicity from a shithole place with a shit currency. It will be free ads to millions of indians suffering from their terrible gov.
 

nomad999

Entrepreneur
this one is for my fanbase around here, amen rof/%

1613598458681.png
 

nomad999

Entrepreneur
Do you really think Bitcoin is undervalued?

I can only see more companies joining the trend of Tesla and investing, but even still do you think this could increase the value even further?
I am dead serious, we are not even halfway to this bull market.
the more expensive bitcoin is the more institutions are willing to jump into it, believe it or not but some institutions would have never even thought of buying bitcoin under 1T marketcap.

our boomer trader champ Peter seems to agree.

Gold is giving up lol, all of wallstreet is sharing this graph.

mickey is doubling down ahah, mickey the LEGEND ! rof/%
he is borrowing at 0% interest and buying bitcoin.
 

JackAlabama

Entrepreneur
I am dead serious, we are not even halfway to this bull market.
the more expensive bitcoin is the more institutions are willing to jump into it, believe it or not but some institutions would have never even thought of buying bitcoin under 1T marketcap.

our boomer trader champ Peter seems to agree.

Gold is giving up lol, all of wallstreet is sharing this graph.

mickey is doubling down ahah, mickey the LEGEND ! rof/%
he is borrowing at 0% interest and buying bitcoin.
Michael is a very smart dude.
He understands the fiat / lending system and is now pounding it hard like a good ol saylor ;)

Nevertheless, it has usecase especially in emerging markets and is a lifeline for a lot of people who cannot use paypal and especially do not have bank accounts. This is not obvious for rich western folks.
 

nomad999

Entrepreneur
Michael is a very smart dude.
He understands the fiat / lending system and is now pounding it hard like a good ol saylor ;)
we couldn't have dreamed of a better bitcoin evangelist ahah rof/%
not only he is very smart but he went to literally every podcast possible to explain what he is doing and why with crazy good arguments about the state of the economy and a perfect understanding of bitcoin. he is making a lot of people to jump on bitcoin along with Raoul Pal who are both very legitimate business/finance and more importantly non-bitcoiner people.

oh and he increased the private offering from 600M to 900M usd and apparently they sold out like instantly, the demand for bitcoin exposure from institutions who can't directly buy bitcoin is enormous it seems.

I wonder what kind of fud will come out to outweight all this crazy positive news.
 
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