Why is Bitcoin pumping , Who is behind it ?
2 min read
Hello fellow /CC anons,
This is a personal opinion , subject to interpretation , and a bit of a reflection on the recent and current pump that left everyone asking themselves “What is happening”.
Looking into it more , and trying to find the logic to it (you might say markets don’t have logic) but that’s how you make approximate predictions and analysis , reading between the lines and thinking maybe a bit out of the box
The corelation to Sp500 and the dollar doesnt make any sense to cause that pump.
The SEC is going against BUSD – the Binnance stable coin issued by Paxos.
Binnance obviously has a big ammount of Busd on their books wich they need to let go to have less exposure incase SEC goes nuts and freezes it.
If you go to BUSD on https://coinmarketcap.com/currencies/binance-usd/ you can see that the volume in the last 24 hours is huge Volume24h $13,056,419,66359.24 wich is a 59.39%
But its market cap is falling by the milions as hours pass.
And you can see that it’s not going into Tether or Usdc because the Market cap increase in the past 24 hours doesnt match with any other stablecoin.
USDT https://coinmarketcap.com/currencies/tether/ check the Mcap increase
And for sure it’s not USDC https://coinmarketcap.com/currencies/usd-coin/
I’m going to make an assumption that CZ is buying BTC with his Busd, and this is an artificial increase in BTC by him , its a huge injection of money and it’s not retail saying “Oh the market is great” .No , this is institutional money , and somehow it’s exactly when Busd is having trouble.
CZ would be incrementing his funds in Binnance, making them look good and reliable. He’s more of a bad character than we think , let’s not forget he likes to stir shit , come back with his company to show that they are number one .
I would strongly suggest don’t think that the money train is here and you are missing the stop because it might turn into a derailed train pretty fast.
The rally might continue but you can agree for sure this doesnt look organic at all lookin at the general situation in the crypto world and economic situation across the globe. I think something is not right and CZ is behind it
Thanks for reading my rant , would like to hear your opinion on this and if maybe we can look more into it for confirmation.
submitted by /u/OgBoomer91
[link] [comments]
