Hey yo, howzit going with the daily faithfuls of this channel, the Chico Army & of course
those newbies, the viewers of the tube.
My name is Tyler the host of the crypto channel that can turn a peaceful day, upside down,
kind of like this fisherman’s…now if a
meth lab blows up in the woods, does it make a sound?
It’s time for Chico Crypto!
Well BITCOIN has decided to explode too, and has officially broken the RESISTANCE.
Sunday we touched it 10k, but got rejected...although once the clocked tipped over to Monday, the
price started moving and moving, and as of yesterday, when shooting this video we were
sitting above $10, 700
No doubt, no doubt…. that is good as this resistance level has attempted to be broken
more than a few times throughout the year which it failed to do so...and guess what
someone special loves when we break this level Arthur Hayes, CEO of Bitmex as he starts tweeting
like a mad man.
And this 10k break attempt is no exception.
He tweeted once we broke it, “you gotta pump it up”on Sunday...then yesterday with
the official break, he tweeted “IT'S A FUNKING BULL MARKET ARE YOU READY!!!!!
And finally he ended it with this, a picture of scrooge mcduck skiing down all monies,
with this “ “I told y'all about my pocket rockets.
I'm 'bout to go Scrooge McDuck on this mother funker.”
So is Arthur Bullish?
Well that depends, on what people are doing on his exchange, and beyond…. which way
is the leverage leaning long or short?
If majority are going LONG, they will pull the rug out, and we will drop below 10k again...if
majority are shorting, they will continue the pump.
And here is a prime example, one of the last times we tried to break 10k.
Let’s see what Arthur was tweeting...this May 14th “Stonks be rolling over, #bitcoin
be mooning.
SPX double bear market rally top at the 62% retracement, rut roh.
Fire up those stimulus checks and let’s take out $10k bitcoin”...then just a few
days later “A gunslinger never sits with his back to the entrance.
Watch the backend, XBTU20, rocket as we tear through 10k.
Which did not happen, there were a few attempts but the price deflated into high 8k levels.
And what type of trades do you think got rekted back then?
Shorts in the beginning, and then Longs at the end.
Using Wayback machine, and looking at Datamish long vs short liquidations, during that time
in May.
As we can see, when the price started to rise at the end of April shorts were getting liquidated
majority over longs, but not much money, in Bitmex liquidation Terms, as the largest day
only topped 50 million face value...well let’s expand it out, once the 10k rejections came….majority
long, with one day during that time period, topping out at 277 million notional value
on just longs...ya the exchange, made bank, once he got people BULLISH...wasn’t money
to be made with those bears, as liquidations got nowhere near this level with shorts, but
LONGs oh ya.
So, looking at Datamish data for this recent pump, we can see over the past week it has
been majority short liquidations, and the levels are so so, but nothing like back in
May….hmmmm?
Those bullish longers, to get REKT next?
Well I wouldn’t doubt, seeing damage on the rekto app, breaking 100 million in 24
hours here soon!
And that doesn’t mean I’m bearish you guys, like I said, it all depends on what
people are doing on the futures exchanges, are they majority long or short?
And people might be catching on to ole Hayes, whipper snapper moves.
Some of the top comments his most recent series of bullish tweets are “He clearly stated
that a dump is incoming”...”Uh Oh Local Top SingaL” …”Arthur Hayes just tweeted!!!!
Have your shorts ready!!!!!
& “Dump Incoming”.....
So, these traders know Arthur’s Game, and in the past after he has tweeted, especially
around this 10k level, a dump down...rekting the longs.
But Arthur aint no dummy, and if people majority think he is pulling a quick 1-2 like he did
in the past, he just might pull out the three, and rekt the shorts...big time.
Because the final tweet, is a person who just posted an infographic….which explains that
market movements are much more than just a factor of crypto hayes.
They posted how the Tether Pump works.
Number 1, Tether prints to buy Bitcoin, thus the Bitcoin and USDT pair skyrockets….arbitrage
bots, buy up the BTC USD pair, because everyone is under the assumption, 1 USDT=1 Dollar.
This overall price increase brings in dumb money, from new traders & seasoned traders
as the media blasts it across our screens.
BTC/USDT pair skyrockets, arbitrage bots buy BTC USDT, skyrocketing it further...and then
finally there is those who cash out, Tether of course sells the BTC they got, from their
printed Tether, for USD, and that fugazi money is now semi backed by USD...they pay out the
few who “redeem” it, and then the rest is theirs.
And if you have been following my channel, we know about this, and we’ve known about
this for some time, and the walls are closing each and everyday on Tether’s issuer and
manager of the printer...Bitfinex.
We know they lost the appeal, they will have to face trial and turn over documentation.
And it’s going to reveal a lot, a whole freaking hell of a lot...and not just about
Bitfinex.
Here is what they are required to do...all documents concerning bitfinex users, accounts,
clients, or customers that reside or are believed to reside, do business, or believed to to
do business in New York...and then all documents of those who just hold it, who are in New
York...and finally all documents concerning any business relationship with any New York
based or licensed company….
So, you remember this piece of evidence the AG has, its correspondence between Bitfinex
and a Galaxy Digital, which as we can see they reside in New York.
Who owns Galaxy?
It’s Micheal Novogratz…
(Laughing) But it gets even worse, Bitfinex will have to turn over all documents regarding
any transaction regarding the US dollar reserves underlying the Tether...all documents of the
“loans” made between third parties, including between Tether and bitfinex…
And then these big ones, all documents evidencing all requests, orders, or demands for US dollar
withdrawals from the Bitfinex platform, and all documents evidencing each order or request
for purchase, issuance or redemption of Tether since January 1st 2017.
WHOOOO Bitfinex better have their accounting in order...because below that they want all
banking documentation & the identification of all New york and US customers whose funds
were provided to crypto capital...YIKES the shadow bank…
So the big reveal is coming, and it won’t be good you guys...per example...here.
In July of 2018, it was announced by Bitfinex that Tether was getting a Real Chief Compliance
officer, CCO.
The article on it states “The British Virgin Island-based company announced on Thursday
that Leonardo Real will be responsible for making sure Tether is following regulations.
Real was previously quality control manager at Bank of Montreal’s anti-money laundering
office”
Well I wonder what has happened to REAL?
Well he had a Linked’N profile, with his image on it, as we can confirm from RocketReach,
which pulls the data...as we can see Chief Compliance Officer @ Tether...well let just
click on the Linked N button...oh leonardo has deleted his Linked, Tether’s chief compliance
officer, which throughout yesterday, he was slowly deleting it all, someone on Twitter
caught it, with profile images deleted, but not the full profile...yet.
And then someone luckily caught another image of him, besides the small one stored on rocket
reach, him posting himself meeting the pope...which is a good thing, because if you search his
name on google, Leonardo Real Tether, literally nothing comes up, and what else is suspicious,
is there was a ton of controversy for when Mattew Tremblay, former CCO left and LEO took
over...Trembaly went missing, and Tether never added LEO to the team page like Matt….
And don’t you find it suspicious, that in just the past 7 days, the market cap of USDT
has increased by nearly 400 million dollars….I’m telling you guys, the big one is coming...expect
a growing radio Silence from those involved with Tether as time goes on, and this summer
of Euphoria ramps up, and then comes to a close.
And I’ll just close this video out with this, the front page of the subreddit bitcoin….post
after bullish post, to the moon please, 10k, hODL on, it’s christmas in July and 10.5k
REKT...and just below that, read what it says Bitcoin cracks the 2020 high at 10,500 onnnnn
Bitfinex...yes they were leading this pump, with the BTC USDT pair.
Which can easily be seen, when you lay out the pump, next to the price stability of Tether.
During the pump, Tether broke the peg, because there was “Demand” for it, aka the BTC
USDT pair went off, creating arbitrage opportunities and that the pump cycle begins.
Cheers viewers I’ll see you next time