💥Grayscale stopping their daily dumps is crucial for Bitcoin to pump.
🎉A shock to the system, such as China's economic stimulus or the US election, will bring excitement and new variables.
✅Bitcoin's holding above 40K is a positive sign in the current market.
🎥Asian countries like China will play a significant role in influencing Bitcoin's price.
🦄Bitcoin's current price below 40K is considered cheap, given the improving fundamentals.
Why is Grayscale's daily dump of Bitcoin significant?
—Grayscale's daily dumps of Bitcoin have been negatively impacting the market as they absorb hundreds of millions of dollars in sell pressure. Once Grayscale stops dumping, it will remove a significant source of downward pressure on Bitcoin's price.
What kind of shocks to the system can influence Bitcoin's price?
—Shocks to the system can come from various factors like economic stimulus from countries like China, major political events like the US election, or even unexpected developments within the crypto industry. These shocks introduce new variables and can significantly impact Bitcoin's price.
Why is Bitcoin considered cheap below 40K?
—Bitcoin's current price below 40K is considered cheap because the fundamentals of the market have vastly improved. Factors like the ETF launch and increasing capital flow into risk assets contribute to the bullish sentiment.
What role will Asian countries play in Bitcoin's future?
—Asian countries, especially China, will play a significant role in influencing Bitcoin's price. Their economic stimulus measures and government policies can have a substantial impact on the crypto market.
Should I put limit orders below 40K for Bitcoin?
—Limit orders below 40K for Bitcoin can be a strategic move considering the improving fundamentals and potential for a price shock. However, it's crucial to have a thorough understanding of leverage and risk management if using limit orders.
01:16Grayscale's daily dumps of Bitcoin are absorbing sell pressure in the market.
02:29The market has found equilibrium between supply and demand, but a shock is needed for excitement.
04:12China's massive economic stimulus will have a significant impact on Bitcoin.
05:46Bitcoin's current price below 40K is considered cheap given the improved fundamentals.
