#Bitcoin #BTC - Break of lower channel support at around 16500-17000 shall take it to 1750-1800
Massive price erosion in cryptos a very likely outcome. This shall spill over to equities as well but not to same extent.
More from Harsh / 허쉬
Use 3Bar High on weekly candle to invest with stop at 3Bar Low.. 👇
One of the fairly easy and convenient method for investing is 3 Bar High/Low method on weekly candles.
— Harsh / \ud5c8\uc26c (@_Harsh_Mehta_) March 26, 2021
Buy when stock price goes above High of previous 3 bars, continue till trend continues week after week, and sell out when Price goes below Low of previous 3 bars. pic.twitter.com/nnVCbMi84C
Chart wise labeling for 1,2,i,ii for now - counts invalid if falls further to 38. In that case will take a fresh look.
#Nifty #Elliotwave #Chart https://t.co/2mvKfAs3wA
Holding 29, major wave 2 looks over. Will you believe if I say ATH will come? But let's go step my step - 80-130-200 \U0001f600#Bhel pic.twitter.com/3KPCYeDoDp
— Harsh Mehta (@_Harsh_Mehta_) February 4, 2021
#Tatasteel - 2 possible count options -
— Harsh Mehta (@_Harsh_Mehta_) June 8, 2021
Bearish - 5 waves complete (RED) and bigger retracement towards 700
Bullish - 3rd over (BLUE) and 4th goes towards 900 and then 1500+#Nifty https://t.co/ETBkbUkCO8 pic.twitter.com/an2EoHHxnU
Below 640, counts need to be revalidated. https://t.co/1e7hs0ZkxR
#BhartiAirtel #Bharti #Nifty - Chart update - Count wise we are in 5th wave starting from 254.15.
— Harsh / \ud5c8\uc26c (@_Harsh_Mehta_) May 17, 2021
Breakout from consolidation in 4th wave has come after 13 years, so expect solid move in next 3-5 years. Hold the stock and add on declines. pic.twitter.com/lC3Zsfd8vd
More from Bitcoin
claim: bitcoin ownership is heavily concentrated.
@business published an article claiming "2% of accounts control 95% of all Bitcoin" 🤣
truth: the facts, my friends, simple don't line up. let's dive in!
2/ interrogating on-chain addresses is tricky.
address =/ account.
one person can control multiple addresses.
one address can hold bitcoin belonging to multiple ppl.
exchanges and trading firms will have addresses with large balances that represent client funds.
3/ the fine folks @glassnode published an excellent analysis of on-chain address balances in January
the ownership distribution of bitcoin among wallets is actually much more diverse than one might expect.
full piece here:
https://t.co/n5IdIQdNoA
4/ 31% of BTC is held in addresses not identified as exchange wallets.
these are likely institutions, funds, custodians, and OTC desks.
our analysis at @CoinSharesCo indicates >15% of all bitcoin is held in third party custody, including @coinbase and our own @KomainuCustody
5/ in fact, between asset managers @Grayscale ($36B in BTC) and our @xbtprovider ($4B in BTC), 4% of bitcoin is locked up by fund providers and asset managers!
our @CoinSharesCo research team publishes an EXCELLENT weekly report on fund flows and AUMs -
We were offered a very open insight (but slightly flawed analysis) into top level policy perspective behind the crack down on selfhosted wallets.
https://t.co/1LTzrxHbgs 1/32
ECB President Christine Lagarde called for global regulation of #Bitcoin, saying the digital currency had been used for money laundering activities in some instances and that any loopholes needed to be closed. Follow #ReutersNext updates here: https://t.co/4MgFy4jnw5 pic.twitter.com/qlBtoDuZLW
— Reuters (@Reuters) January 13, 2021
'It is a speculative asset, by any account. If you look at the price movements... '
It starts with an economic price perspective and we can learn that ECB is closely monitoring this price movement as one of the many indicators.
So we are in the classic central bank frame 2/32
'Those who thought it would turn into a currency. Sorry, it is an asset not a currency.'
Here she summarises a classic debate on what is currency and what is needed for that. Based on the holy three: unit of account, means of payment, store of value. 3/32
The summary is classic, but too narrow and does not incorporate the wider financial history viewpoints on money, currencies and the way we pay. 4/32
ECB overlooks the de facto unit of account role of bitcoin, having been used to 200 years of having cash around whic is both the unit of account and a means of payment. 5/32