Are you guys saying that there are whales out there big enough to move the BTC market price, based on volume?
I guess in theory that is true, but I don't think in practice that is the source of volatility at current time.
I believe a big source of volatility is 24x7 trading of BTC, and you see psychology circling the globe impacting price. China/Korea/Japan are bullish or bearish on BTC one day, and then 24 hours later the US takes the opposite view. And BTC bounces up and down. And the bigger ups and bigger downs occur when both sides of globe get in sync on the psychology, and BTC and other coins go for big rides up or down.
Most of current price movements are psychology. There are no traditional fundamentals to trade on.
Someone mentioned the bigger slide in the market was caused by stop loss orders.
What we should be focused on is the fact China declared war on cryptocurrency and it barely flinched hitting at its lowest 25% decrease in prices overall and around 25 billion in lost market cap.
Which in the past 12 hours has nearly recovered from the 36 hours rollercoaster ride.
Are you guys saying that there are whales out there big enough to move the BTC market price, based on volume?
I guess in theory that is true, but I don't think in practice that is the source of volatility at current time.
I believe a big source of volatility is 24x7 trading of BTC, and you see psychology circling the globe impacting price. China/Korea/Japan are bullish or bearish on BTC one day, and then 24 hours later the US takes the opposite view. And BTC bounces up and down. And the bigger ups and bigger downs occur when both sides of globe get in sync on the psychology, and BTC and other coins go for big rides up or down.
Most of current price movements are psychology. There are no traditional fundamentals to trade on.
Someone mentioned the bigger slide in the market was caused by stop loss orders.
What we should be focused on is the fact China declared war on cryptocurrency and it barely flinched hitting at its lowest 25% decrease in prices overall and around 25 billion in lost market cap.
Which in the past 12 hours has nearly recovered from the 36 hours rollercoaster ride.
Cryptocurrency 1
China 0
Which country wants to be next?
Beercules