🔥 SECOND "IMPORTANT" CHINA EXCHANGE IS CLOSING SOON! 🔥 WHAT IS THE FUD ALL ABOUT? 🔥
Hi Steemit friends,
now we amidst a crypto crysis?.. at least it seems for many people today. The announcement that after BTCChina now ViaBTC is closing on Sep 30th and stop registration of new customers already on Sep 25th creates temporary FUD amongst crypto users. But about what exchanges we are talking?
Did you trade on these exchanges and how many chinese did?
Have you even heard about these exchanges before the spread of FUD?
Is this rock-bottom or what's the real impact of the news? Let's look at some stats:
source: coinmarketcap.com
The market share in terms of daily volume of the two exchanges is tiny if not negligible at the moment after the FUD.
We speak here of really low volumes today in comparison to the TOP 5 which make alone 54% of the daily volume of the TOP 23.
But look at the Bitcoin trading volume the last 6 months and all the spread of FUD:
That's a different picture:
BTCC has a share of 7.91% for the last 6 months with Bitcoin trading, ViaBTC is not listed on this site.. why?
So what is all the buzz about to see double digit declines in market cap i ask myself or ask you? Should we totally freak out and sell off?!
One thing is for sure, J. P. Morgan has some share with statements by the CEO like that..
"Bitcoin is for murderers, drug dealers, and North Korea."
but look at the pure numbers, they tell you a lot what's real and what's FUD! Is this a reasonable reaction of the market.. mmhh.. i have strong doubts. I put my sunglasses on 😎 and looking forward to a bright future for cryptocurrencies.
What do you think? I'm right or wrong?
Some big banks and governments are creating a false sense of fear around crypto and media is feeding on that!
If we look at the exchanges that are closing, their volume are insignificant. Maybe there is fraud inside these exchanges and that it why they are closing but to brand the whole crypto as shit because of this!
Sadly true i think. Hope the right one use it to their advantage, and not just the Jamies of the world..
That's why we are all here on Steemit! To prevent the Jamies from getting everything XD
Thanks, keep it up!
your post is the best post...i like this post..thanks
Thanks for your comment!
Thanks for the information sir.
your're always welcome, thanks!
Spot on! (:
it tells me alot about the market participants and sentiment at the moment.. thanks!
my opinion is just that, this FUD is just to destabilize bitcoin temporarily, and allow the whales to buy cheap bitcoin. I just dont like or fancy the instability of the chinese, they are causing more than good to blockchain technology
i think the whales definitely do that today and when next opportunities arises due market manipulation like that. We must understand that's a natural reaction to gain influence by people tell you the same opposite about cryptocurrencies. If you dig deeper like behind JPM it's obvious that they profit by all the buzz and gain influence that's a well-know game i think.
The question is, what's the reaction of all the small investors, the people who are in from the beginning or now? For me it's important to stay in the market and not the opposite, like some people want..
Thank you!
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