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RE: Don't Panic! Why the Future of the Crypto Market is Super Exciting
exactly the reason why I am not bothered. In fact, ever since consensus, if someone has followed the news - Nomura readying a custody solution, circle applying for trading venue, SEC chairman's comments on bitcoin not being a security and some positive news from coinbase as well, there is no reason why bitcoin should be crashing. And it is. This is most likely a shakeout to get the weak hands to panic sell and for people to go short.
I wrote about these things in a couple of articles. The promise of another asset class with 0 correlation to traditional markets is immense. Bitcoin is inflation proof and finite supply. What is happening in markets is insanely retarded.
Agreed. I’m sure the Insto’s will be delighted, if they can get into the market at a low entry point. 👍
or the brokers building inventory for OTC markets. Last month, healthy OTC volumes were reported, possibly institutional interest it there. That get's traded OTC. Short on an exchange, scare the weak hands out, cause prices to drop and buy cheap.
Well, I just wonder exactly who was buying OTC last month. I agree that somebody was buying the Mt Gox Bitcoins, so that they could dump them on the exchanges near futures expiration times. In my opinion the TokyoWhale dumped these Bitcoins onto the exchanges on somebody else's behalf. What idiot would sell so much Bitcoin on the exchanges and expect to get a good price? All this does is drive the price down and he receives less and less.
yeah, make it big on futures. although, mt gox guy sold everything on an exchange, allegedly. whether it was him, or someone who bought of him, public at large has to witness and feel the bloodshed. :)
Maybe the institutions are behind the Mt Gox dumps, so they can keep the price down until they get the go-ahead?
probably, i think that may be the first dump was his. but then the institutions would have smelled it. and now, its all them. He just cannot be that stupid, and the institutions can't be stupid enough to miss this opportunity.
Yeah, I think you're probably right.