Smaller cryptos have always followed BTC, it's just more pronounced recently. That's why I've stopped trading cryptocurrencies - instead I perceive them as a single refuge in times of fiat currency crisis (just as gold is).
If I am not mistaken, the latest ransomware used BTC as payment, right? This certainly raised the price of Bitcoin. And what better way to hide your tracks, but to convert your illegally obtained cryptocurrency into its alt siblings?
Interesting. Could it not just be the market is looking at Bitcoin as a bellweather? Back in the day the DJIA was seen as a bellweather of the American economy. GE was seen as a bellweather of the conglomerates etc...
BTW followed :)
Well I suppose anything can be manipulated. Remember George Soros broke the Bank of England by shorting $10 billion Pounds. Pocketed a billion in profit too.
Something big, maybe automated is going on.
I have seen someone pumping 2 million into a (comparatively) unknown coin, doubling its price - in a 15 minute candle.
No human who aims to make a good deal does this. Do it in a weeks time and you save hundreds of thousands!
And I have seen a +100% similar to this every second day for the last weeks.
Today it's Omni with about 3000 Bitcoin going in in one hour on Polo, currently +132%.
Either somebody does not know what to do with all the Bitcoins, or its a big market buy like for an ETF.
Or the conspiracy theory: someone is preparing a billion-heavy total crash of Cryptocoins. Like a central bank. The EZB warned just 2-3 weeks ago to not speculate with Bitcoin, when the price rose to 1700€.
This post has been ranked within the top 80 most undervalued posts in the second half of May 31. We estimate that this post is undervalued by $17.35 as compared to a scenario in which every voter had an equal say.
Smaller cryptos have always followed BTC, it's just more pronounced recently. That's why I've stopped trading cryptocurrencies - instead I perceive them as a single refuge in times of fiat currency crisis (just as gold is).
If I am not mistaken, the latest ransomware used BTC as payment, right? This certainly raised the price of Bitcoin. And what better way to hide your tracks, but to convert your illegally obtained cryptocurrency into its alt siblings?
Interesting. Could it not just be the market is looking at Bitcoin as a bellweather? Back in the day the DJIA was seen as a bellweather of the American economy. GE was seen as a bellweather of the conglomerates etc...
BTW followed :)
.
meep
Well I suppose anything can be manipulated. Remember George Soros broke the Bank of England by shorting $10 billion Pounds. Pocketed a billion in profit too.
Something big, maybe automated is going on.
I have seen someone pumping 2 million into a (comparatively) unknown coin, doubling its price - in a 15 minute candle.
No human who aims to make a good deal does this. Do it in a weeks time and you save hundreds of thousands!
And I have seen a +100% similar to this every second day for the last weeks.
Today it's Omni with about 3000 Bitcoin going in in one hour on Polo, currently +132%.
Either somebody does not know what to do with all the Bitcoins, or its a big market buy like for an ETF.
Or the conspiracy theory: someone is preparing a billion-heavy total crash of Cryptocoins. Like a central bank. The EZB warned just 2-3 weeks ago to not speculate with Bitcoin, when the price rose to 1700€.
.
Great insights! Following you for more updates on cryptocurrencies.
Thank you.
Wow nice post @bola
Thank you.
You are welcome @bola
Nice article. Btw i need to say that upvote avatar is perfect. :))
Thank you.
This post has been ranked within the top 80 most undervalued posts in the second half of May 31. We estimate that this post is undervalued by $17.35 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: May 31 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
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