So, you are wrong and 9/11 was a false flag...Okay, well this theory first came about from when they opened up the CME long/short mechanism. At the time I predicted it would be bad for Bitcoin, because ultimately there was a lot of negative press coming from the bankers. Even Goldman Sucks which went from completely deriding it, to opening up a small fund for their clients.
So I predicted that when they entered the market they would find a way to screw everyone over, because they ultimately see crypto as a threat, and they control the money and they don't want to lose that control.
My theory is that the banks are buying shed loads of btc and then shorting it (if this is illegal, they are finding ways round that illegality), then when the right time comes they dump their coin crashing the price and thus cashing in on their short.
This is not as risky a strategy as it sounds because of the nature of the btc market.
What is the overall theory of btc holders?
HODL!
Unlike other financial markets crypto heads talk about holding their assets regardless of what happens in the market.
Also unlike other markets it is very difficult to sell large amounts of btc without moving the price. For example if I wanted to sell a million dollars worth of Chrysler shares nobody but me and my broker would notice. However if I tried to sell a million dollars worth of btc all at once I could single handedly cause a price fluctuation just by dumping it on Kraken or one of the smaller exchanges.
So even though the market cap of btc is pretty large, the active players in the market are small, I believe Kraken and Coinbase are the largest exchanges and their 24 hour volumes can be measured in the thousands.
So yeah, the banks are freaked out about btc and at first they tried to ridicule it, then they joined the party and now they're ruining it.
With all that being said, there's still plenty of room for day/week traders to make some money, however for long term investment I think it sucks.
The money will be in the BaaS (blockchain as a service) coins, in particular I'm keeping tabs on EOS as they seem to have a good handle on blockchain speeds and implementing games onto the chain.
Steem (which I'm invested in) could also be good, its flagship dapp Steemit is kind of dying now, however they have the two top blockchain games in Steem Monsters and Drugwars.
Dan Larimer (creator of Steem and EOS) announced the other day that he was going to create Steemit 2.0 on the EOS chain. I have a feeling that it will be bigger, better and shinier than his first attempt and there will be more social features to boot.
At the moment I use btc as a temporary place holder as I buy and sell other cryptos...
I hope I'm wrong about bitcoin, and if it goes past the $9000 mark and stabilises somewhere around the $10k mark then I'll admit my theory is wrong. If however I see it continually bounce between about $3k and $8k I'll believe I'm right.
DISCLAIMER: Even though it sounds like it above, I am not a conspiracy theorist, I don't believe in the Deep State, alien pyramids, or that 9/11 was an inside job.
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