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RE: Why Everything You Know About Investing In Crypto Is Wrong
It's not over this is the result of simple economics if you have bitcoin and you see it crashing logically you trade for cash and wait, don't have to be a genius to figure that out. The cause is someone holding over a Billion dollars of BTC and must sell it off to fulfill his mandate . When will it end? My guess is after the MTGox guy has less than 10,000 BTC left to sell. Right now he has 166,000 to go. After that everything can go back to normal trading.
I think the MTGox guy will wait till the next bull run to dump on us again.
it's very hard to imagine But the Marketcap was 820 Billion in December and he sold off 400 million it just dosen't make any logical financial explaination, were talking over 400 billion drop on fear of someone selling 1 billion ?
The marketcap is just a representation and interpolation of the current trade volume.
So it was only theoretically at 820 billion. This number might be way lower.
Tether is also contributing to the fact and you don't really know how much it is actually backed by real money. We might be looking at 1:10 , some people believe its 1:50 or even worse. If you consider this fact it doesn't look too suprising anymore that the market is in depression after 400 million USD worth of crypto were sold.
166,000 what to go?
166,000 left to selloff BTC and BTCC each. But it's manipulation big time just take a look, in 24hrs the market-cap increased 40 Billion do you really think 1Billion in coin made it drop 80 Billion? Well question is answered it was all caused by the G20 Meeting :)) were good
true, lol
Thx for the great insights into a crypto holders heart and soul.. in regards to the major coins and tokens IMHO nobody knows where it is going.. but having been an long time skeptic currently I can see that a lot of people have not been involved at all.. especially not institutions.. ist not over until they are in...
so I believe its a 50/50 chance between a further crash towards 0 oder another boom hitting higher highs..
but everybody should take care of good money management and only spend his gamble money... unfortunately boom and bust cycles always have the same news headlines... first lucky overnight zillionairs followed by mom and pops loosing their house and last shirt... yet I did not see the later headline... so fasten your seat belts in both directions..
I would especially recommend everybody: only buy what you understand... and yes that requires to read the whitepaper and secondly ask yourself the question: is the token really necessary for the ecosystem / business model described --> e.g. it will not work without application of blockchain technology or is it just a "oh OK.. we have a token.. now lets find a good story.."
..same applies for all doing promotions..
https://steemit.com/bitcoin/@blockchainbeta/bitcoin-hit-by-regulation-expect-massive-dump
Read this article it basically says that at the moment crypto is speculative like the internet in the 90's-2000 @blockchainbeta
May be