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Comedian reveals to Flow Podcast that he profited 700% with Bitcoin

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Marcos Castro is a comedian and a member of the Castro Brothers channel. He was the guest of the 315th edition of the Flow Podcast, where he talked about Bitcoin.

Castro says he bought Bitcoins for the first time in 2017. Since then, he has increased his capital by 700% – that is, in less than 4 years.

The comedian also talks about trading robots, sobriety in investments with cryptocurrencies and how to invest only what is acceptable to lose.

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Marcos Castro won with Bitcoin

Castro, when addressing the subject, begins by stating that he is not recommending investment in BTC.

According to him, knowing the market volatility, it is possible that his followers buy without knowledge and blame him later if the price falls.

The comedian, who is also trained as a mathematician, against who bought BTC for the first time in 2017.

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The result: Castro says he multiplied his investment, in reais, seven times. However, he adds that he did it differently from many investors:

“When I put it on, I said: ‘if I lose, I’m fine’. Even if I lose that money today, I can lose it. ”

In other words, the comedian invested what more experienced investors call “cachaça money”. It is the name given to money that, even if lost, will not compromise the investor’s livelihood.

Castro says that since youtubers have no social security guarantee, he needed to think about where to invest in order to guarantee a plan B.

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“With Bitcoin, I want to make it very clear, this is faith. I believe, looking to this day, that Bitcoin will grow even more. I wanted to be Elon Musk, who says that Bitcoin is going up, and he goes up. ”

The comedian then goes very soberly into a related subject: trade robots.

50% in 90 days

The Castro Brothers member says that a friend developed a trading robot and that he has left part of his Bitcoins operating with that robot.

Marcos Castro recognizes that, in many cases, robots end up liquidating the investor’s money. However, in his case, he says:

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“I don’t know what the guy does, I know what I’m seeing. I put it in there and in 90 days it was 50%. ”

He points out that the 50% was about the amount of BTC. That is, if Castro had left 1 BTC, he would now have 1.5 BTC. The important thing is another statement made by the comedian.

Apparently, he is not blown away by the quick profits. Castro recognizes, once again, the volatility of the cryptocurrency market and the lack of fixed earnings.

“What I’m seeing are these 90 days, but I don’t know about the next 90 days. We don’t know about the market going forward, Bitcoin can plummet. ”

Finally, he still warns of alleged trading robots that are financial pyramid schemes. In the case of the robot developed by the friend of the comedian, the investor maintains custody.

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However, in many cases – like Midas Trend and similar companies – the money goes to the owner of the robot. The outcome, without exception, was the loss of invested capital.

Read also: Cardano fires 23% during correction and can hit historic high

Also read: 8 cryptocurrencies that could explode in March, recommends analyst

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Also read: United States reveals what it takes to approve digital dollar

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Bitcoin ETF Approval is a double Edged Sword in Terms of Price Discovery

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Futures based paper products don’t lead to natural price discovery. There’s so much the players can manipulate on these paper products, which will be fixed in a physically-backed ETF.

In response, Caitlin Long expressed:  Yep, but physically backed ETFs also foster spot price manipulation. As I’ve said for yrs, Bitcoin ETF approval is a double-edged sword.  It brings liquidity, but also brings Wall Street style manipulation and price suppression.

Community response:  I don’t see ever any logic here. Crypto is the Wild West, when it comes to manipulation. How does having liquidity in a more regulated market make the manipulation worse?

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Crypto markets are way more manipulated than any other asset class. Adding an ETF would only dilute the manipulation.

Supply is real with bitcoin paper copies won’t bring more real supply, but can’t the paper push around the price like in gold and silver? I think they will try but will soon discover that the underlying asset isn’t as elastic as gold and silver with a significantly lower inflation rate and stock flow.  Also, gold and silver aren’t 100% auditable by everyone on the planet at all times.

How does a spot ETF foster price manipulation? I don’t really understand the logic here. Most likely, the ETF would simply be buying and storing Bitcoin every single day of its existence.

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What do you think the manipulation would look like? With the open source monetary policy and public blockchain ledger, I think any manipulation would have to be very short lived. They can’t create millions of ‘paper’ BTC like the precious metals markets.

Yeah but unlike gold and silver we can completely verify the total supply, and punish manipulation out of these honest markets. If on-chain metrics unanimously say one thing, futures manipulation will be that much easier to rectify, no?

Wall Street can short BTC through the floor. My guess is they want to hammer the BTC price down and drive everyone back to USD. Same way they control all commodities.

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ETF is a double edged sword, and anyway there’s a lot of manipulation. So, ETF is nothing significant to care about? If the ETF would hurt bitcoin price more than it would help it, the US would have approved it several years ago.

Hard manipulation like in gold/silver market not possible: Withdraw your BTC from the exchange, as soon as supply dries up the price explodes.

With an BTC ETF, have you removed legal tender? Been thinking on this one and I’m not so sure an BTC ETF is the best thing for BTC in the long run. There is always two sides of a coin.

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How can spot price with proof of reserve be manipulated? And how can we move past the financial products created out of thin air, and toward the purpose crypto was created for?

We already have manipulation and suppression in BTC – The Futures-ETF will only serve to deepen that manipulation/suppression. So, Qui Bono? This is not about investors folks!

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Bitcoin Whales Buying Activity on Rise with 254 New Whales Entering Market

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More traders and institutions are buying Bitcoin prior to the potential launch of physically-backed ETFs

According to data provided by Santiment, the number of Bitcoin whales (addresses owning between 100 to 1,000 BTC) has significantly increased prior to the asset’s rise back to the previous ATH. More than 250 whales appeared on the network since Sept. 11.

The increased number of Bitcoin whales is also followed by progressively increasing exchange outflows. While traders and investors move funds away from exchanges, they have no other choice but to hold them in their wallets; hence the network is experiencing an increasing number of new wealth holders.

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Santiment data
Source: Santiment

On the other hand, the increasing number of holders can be tied to the rapid and significant increase of Bitcoin’s market capitalization. The current price action is followed by 40% growth, which itself attracts both institutional and retail investors.

In addition to the increasing popularity of cryptocurrency among the general public, the news of the upcoming ETF approval is a strong risk-on signal for institutional investors. Previously, U.Today reported that the market may see a strong inflow of funds right after physically-backed ETFs are approved.

According to Santiment’s data, the majority of whales have held through the previous market correction and only a minority of large holders have to get rid of their coins. The current increase in the number of whales is considered rapid compared to other periods.

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BTC Price Analysis: Bearish Divergence Signal On the Weekly May Cool off Intraday Longs

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The long-awaited Bitcoin BTC ETF-Exchange Traded Fund is now approved by the US SEC, and it’s viewed as a positive development for the entire cryptocurrency market. Analysts suggest that the crypto market could see capital flowing in, with speculations around investors moving out of Gold ETFs into Bitcoin.

Let’s analyze the BTCUSDT charts for insights into the recent price action.

Bitcoin (BTC) Weekly Chart Analysis

The Bitcoin price is back on the headlines of many digital media outlets as many analysts speculate on a price surge beyond the 2021 ATH. However, while the price is pumping real hard at press time, we also want to bring your attention to bearish reversal chart patterns that could lead to temporary retraction of the recent upswing.

A prominent bearish correction signal is an impending regular bearish divergence signal on the weekly chart above, where the RSI forms a lower peak [82] compared to the price chart setting a higher peak.

We anticipate a cool off of the BTC price if the RSI value stays below level-87 in the coming week.

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Bitcoin (BTC) Daily Chart Analysis

A view from the daily time frame shows the start of a bullish campaign on 01 October ’21 after the RSI crossed above level-75 and has not dropped below level-25 ever since. 

The Bitcoin BTC price continues to set new highs and is recently shy of the all-time high at $64854.00, as the relative strength index forms a lower peak [79] signaling a likely price pull-back to come.

We expect the upward price momentum to persist till the end of the current week, given that the RSI continues to trade above level-25.

While we are optimistic of a spike in demand for the BTC, we also suggest putting some funds on the sideline for a possible price dip which can be viewed with the RSI slumping below level-25 on the daily time frame.

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Bitcoin (BTC) 4 Hr Chart Analysis

The 12 October 20:00 support [$53879] confirmed the price correction on the daily time frame setting the BTC price back into a series of higher peaks and troughs.

A recent hidden bullish divergence at press time marks an end to the 3.8% correction from this week’s high.

However, a price breakdown below the hidden bullish divergence trend line would spark a rapid sell-off of the BTC price into lower price zones, perhaps around the $58k mark.

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