Ivan On Tech – BITCOIN: GOING DOWN!!!! (blackrock scamming us?) (11.06.2024 Summary)

Ivan On Tech – BITCOIN: GOING DOWN!!!! (blackrock scamming us?) (11.06.2024 Summary)

Bitcoin’s Sideways Movement and BlackRock’s Purchases:

Ivan notes that despite strong fundamentals, Bitcoin’s price remains stagnant. He questions why the price isn’t increasing even though major players like BlackRock are buying large amounts of Bitcoin.

BlackRock has bought significant amounts, including a $30 billion purchase and another 5,000 Bitcoins in a single day, yet the price hasn’t moved, leading to suspicions of market manipulation.

🎩 Possible Market Manipulation and Conspiracy Theories:

Ivan explores the idea that BlackRock and other institutions might be manipulating the market, similar to how gold prices are allegedly manipulated through financial instruments and ETFs.

He discusses various theories, including accusations against Coinbase for allegedly using borrowed Bitcoin to fund ETFs, which prevents actual demand from hitting the market. These theories are not confirmed but are circulating within the community.

⛏️ Miner Capitulation:

Another explanation Ivan offers is that Bitcoin miners are still struggling post-halving. The halving event reduced their rewards by 50%, causing less efficient miners to sell their Bitcoin to stay afloat, which could be suppressing the price.

🧘 Historical Cycles and Patience:

Ivan emphasizes that Bitcoin has gone through similar consolidation phases in the past. He advises viewers to be patient, as these periods of sideways movement are often followed by significant price increases.

🔮 Future Outlook:

Despite the current stagnation, Ivan remains optimistic about Bitcoin’s long-term prospects. He believes that once the market breaks out of this consolidation phase, sentiment will quickly turn positive again.

🗒️ Conclusion:

Ivan’s discussion provides a comprehensive look at why Bitcoin’s price might not be rising despite positive fundamentals and significant institutional buying. He explores various theories, from market manipulation to miner capitulation, and emphasizes the importance of patience and mental resilience in the volatile world of cryptocurrency.