CRYTO MARKET RIGGING!!!!
With Greg M's insight, I've been watching the futures on the CME for BTC (XBT). It has followed the futures market without fail but what was concerning me was the rest of the market following.
A question to the posters out there making $2000 a day with stupid charts... You don't have a clue what is going on. You post to make money and it doesn't matter what you say. Next time just post, It was a really really really really really really really really really really really really really really really really really really really odd day in crypto and make your $400 bucks / post.
For the rest of us:
My opinion is that the exchanges are unwitting accomplices. If you look at the markets on the exchanges, you HAVE to use BTC to buy or sell most of the other coins. Look at the markets on Bittrex or Poloniex. Using USD or other coins restricts you from getting the up and coming coins (I won't say which I like).
Spoiler Alert... The banks are smart. You control BTC and ETH and you run the market cap of the space.
I have been wondering the same thing about needing BTC or ETH for most of the exchanges. It reminds me of the PetroDollar. It looks just like using BTC / ETH as a 'reserve currency' perspective. So, YES, exchanges working based on BTC/ETH , and controlling them controls the whole market.
At this point, I think it is all owned by the banks. This is a 60% crash. Maybe the space was in a bubble but this is like a monkey shit fight at the zoo. Hopefully this is the banks getting ready for a $600,000,000,000 pump and dump.
Also, the futures started at midnight Sunday ( I think I went straight down).
It's a huge crash. It appears slow and consistently downward to me, not an immediate collapse. Almost looks as incredible as the rise!
No futures over the weekend and the space is recovering. Maybe Sundays are a good sell day and Fridays to buy?