Friday, June 18

PlanB Makes a Noteworthy Comment on Bitcoin (BTC) Price Movements and Institutions

planb bitcoinin btc fiyat hareketleri ve kurumlar hakkinda dikkat cekeci bir yorum yapti

PlanB, the first analyst to apply the stock-to-flow model to Bitcoin, says institutions are deliberately pushing the price of Bitcoin down to accumulate cheap BTC.

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In an episode of Bitcoin Fundamentals with Preston Pysh, PlanB says that Bitcoin’s price action over the past few months indicates that someone is trying to influence the market behind the scenes.

“The price action we’ve seen last month and especially this month, the bearish action has always been in the illiquid hours of the market. So it was deliberately destructive. It wasn’t sold by someone who wanted the dollar rather than bitcoin. During the illiquid times in the market, it was sold in a very large pile to get a good price, so it was a devastating sale.”

According to the quantitative analyst, he sees a clear disruptive selling pattern in the market, which he says is an indication that institutional players are accumulating the largest cryptocurrency:

“Actually, if you look at the price charts, if you look at the daily chart of the last few months, for example, you can see that all these devastating sales [olayların], you see all these sales happen at the end of each one, by the way. Strangely enough, all these sales were bought in a week or two. It was like a V-shaped recovery in two weeks. It’s also a feature of corporate buying for me, where they scare people away from their positions. Along with their OTC (over-the-counter) desks, they intimidate retail and regular people from their positions, even liquidating people from their positions and then buying them within weeks.

It is especially effective if you sell illiquid watches and lower the price, and then buy in small pieces for liquid watches. That’s basically what I’ve seen since January, the last five months. This is a very, very bullish move in my eyes.”

In a new tweet, PlanB cites four examples where prices quickly recovered after brutal sales:

“Selling large items in illiquid hours at the end of each month, then constantly buying small quantities in liquid hours at the beginning of each month. Four V-shaped recoveries. Corporate buying?”

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