Global Transition to Cryptocurrencies update - Supply pressure from powerful entities precedes price increases

in #cryptocurrencies • 6 years ago (edited)

Global Transition to Cryptocurrencies update - Supply pressure from powerful entities precedes price increases

   
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Global Transition to Cryptocurrencies update - Supply pressure from powerful entities precedes price increases

Global Transition to Cryptocurrencies update - Supply pressure from powerful entities precedes price increases

Cryptocurrencies are replacing fiat currencies. The global transition to cryptocurrencies from fiat currencies as the primary means of financial exchange will progress over the next few years.

I recently resteemed a video from Bitcoin Ben. On 7 May, I resteemed "Supply pressure being created--leading to less volume..."

In this article, I will organize some of the content in that video and add some of my own ideas.

There is a plan being implemented by large banks to buy crypto dips, starting with Litecoin. The structure of the plan is for many people working for banks and for exchanges to buy crypto dips and to transfer cryptos off of the exchanges into private wallets less than 24 hours after acquisition on the open exchanges.

This general dynamic is powerful entities applying buying pressure on the crypto market. This buying pressure will pressure the supply, and the same level of demand will drive prices higher.

This is occurring now because the financial institutions anticipate that the prices will go much higher in the coming months. These same banks have been decrying bitcoin and other cryptos. Because the banks are not able to buy in large volumes and at discounts, they are buying the cryptos from the over-the-counter exchanges.

This activity is removing large quantities and decreasing the supply of cryptos on the exchanges. That means that it will soon take less trading volume of buys to raise the price.

At the same time, Coinbase has recently increased their resources and structure to accommodate massive scaling, anticipating an onslaught of new account signups and a large increase in trading volume.

Combining the two above dynamics, we’ll see smaller supply and higher volume. The smaller supply will mean higher prices, even with lower volume. Prices will go up, even with low trading volume of buys. The increased demand for cryptos will drive prices higher faster.

Nothing but good things are happening in cryptos.

Thanks For Reading!

If you have any topics that you would like me to cover, feel free to comment them below and I'll add them all to my list!
   
We are the Love of God, no matter what.
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6 years ago in #cryptocurrencies by
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     6 years ago 

    I'm just looking to establish a position in the Steemit community, and would appreciate to find some people like me, so we can mutually support one another. subscribe @coinlocket

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       6 years ago 

      Thanks for your comment. I wish you well.

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