$24 Billion in crytpo trades “not on exchanges” in 2018 — done Over The Counter (big money)
Source: https://cointelegraph.com/news/circle-executed-24-billion-in-otc-trades-in-2018
As we celebrated “proof of keys” yesterday on the 10 year bitcoin anniversary yesterday, it makes you take a second look at the crypto exchange market.
In 2018, they recorded over $24 Billion in Over the Counter crypto trades in 2018. The reason I boring this up, if they wanted “proof of keys” to raise the price of cryptos as exchanges scramble to buy bitcoin —- why couldn’t they do this on the OTC exchange which does not affect prices ???
The whole crypto market is now suffering the fate of the precious metals market. Meaning the exchanges are selling product they don’t have (all day) and there is no regualtion.
The entire Bitcoin or Litecoin Maket cap trades 100% in every 4-6 days.
So what is the big value of only 21 Million BTC if 21 Million is traded each week — there is no scarcity the way the exchanges are regulated.
This issue, taxes and ease of wallet use all need to be addressed for 2019 IMHO.
Thank you for reading.
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Market manipulation has Mandrake the Magician beat for illusion.
I do think there will be a serious attempt to regulate to rid the issue. Otherwise it’s no different than the other market rigging, We will see.