Tomorrow is Bitcoin Futures Expiration for both the monthly and quarterly contract.
Why is this important?
This is a settlement of ???? $? ??????? ????? ?? ?????????.
As mentioned in my April stream, Big Boys tend to "Bang the Close". This means that they will short Big spot positions prior to the futures expiration date and also sell future of Bitcoin at higher price.
Bank of America recently said it only takes $93 million in order to push the price of Bitcoin down 1%.
Companies like Goldman Sachs and HSBC have actually faced legal action for this before, so we know for a fact that they're doing it.
How do we know this is true?
Go back to Bitcoin chart and self verify all past $BTC Futures expiration date, and compare to the price movements. You will know what I mean. This explains the dip of 30% from 15th to 22nd June last week.
Bitcoin Status now
As Bitcoin is at a low point (retraced 50% from ATH), there's little incentive for Big Boys to "Bang the Close" in the next few months. This means lesser selling pressure in the months to come. Therefore, this could potentially be the last Big Boys manipulation until we hit all time high again.
In addition, we have yet to achieve the top of our logarithmic regression band. If patterns were to repeat itself, we should be expecting at least 200% gain for this cycle peak.
Other Fundamentals to backup
- Eventual elimination of the ever-present China FUD
- Institutions starting to be receptible and committing into Bitcoin
- Defi space growing every single day
- A government accepting bitcoin as legal tender in a country
PS: In my stream, I mentioned that I will liquidate at least 90% of my Bitcoin prior to June futures expiration. On second thoughts, I did not do so. As some portions of my Bitcoin are invested at 6000, this allows me to hold onto bigger proportion of Bitcoin going forward without jeopardizing my risk score. This allows more gains for my copiers.
Depending on interest of this post (+80likes), I will do a live stream to discuss more about Bitcoin management and also some predictions of equities $NSDQ100 $TSLA (Tesla Motors, Inc.) price actions in the next few months. Leave a comment for ??????? ???? ?????? ?????????????
