Replying to Avatar Prisoner24601

https://www.thestreet.com/crypto/markets/analyst-explains-bitcoin-price-faltering-despite-historic-etf-volume

I have been confused by the price of Bitcoin since the ETFs. I'm not a trader and have never followed the stock market. I also don't specifically care about the price because I'm HODLing. But, in my mind there was a simple reason for it to shoot up, but it went down instead and I wanted to understand why. This article seemed to present an explanation I could understand, so I'm sharing it. I imagine the cause being posited can be verified by someone in the know.

#bitcoin #nostr #nostriches #plebs #plebchain

I am a trader (retard) so allow me to explain.

This 'article' provides little-to-no specificity in its proclaimed 'analysis'. My response will be of a similar length.

What you need to do in order to understand the structure of a market is truly zoom out. On top of that, you need to eliminate your emotional bias. Many of us want NGU to activate in order to confirm our beliefs, and that is exactly why you are experiencing confusion, even disbelief.

The people who accumulated Bitcoin at favourable levels (sub 20K) have realised their profits. From a trading perspective, which appears to be what you seek, we are at a 200-300% gain. Think like a banker, or a long-term whale. We have spent enough time in this space to ignore the short-term moves, and the market has met our expectations. Anyone "buying the dip" at this point will be left holding the bag for us to buy from them at significantly lower prices.

If you want a deeper dive into this, I would be happy to oblige. But you are not going to get an honest opinion from the majority of these 'analysis', because they are only there to further mislead you into a false sense of security and confirmation bias. Short-term extensions are expect based on how markets move. Any upside from here is only going to suck in those who are entirely unaware of the large picture and the people involved.

In short; they are playing you using emotional manipulation. I know it's hard to hear, but it is the reality of the situation.

Bitcoin is good for us in the long-term. There will be pain along the way, so always try to plan for the worst in order to end up ahead.

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I was simply looking for the mechanics behind the movements. I asked peoples input and heard things like "x company move x BTC to coinbase" and "buy the rumor, sell the news" and it didn't make sense to me. I got bits and pieces of what I head here. I had curiosity about the cause, whether or not I had any emotions about it. I am interested in your perspective as to the mechanics and cause, regardless of motivations or emotions. We're the movements outlined not occurring? Is there something else?