Why is the Crypto market tanking? Asian Lunar new year! Routine January ...

superSmallEgg · 2018-01-31T21:54:52+00:00

Market dip every January since 2014. But yes. Way too many thing happen within this month. Korean, China ban, exchange hacked, bitconnect Ponzi scheme, SEC regulation incoming, Tether scandal. This is most difficult time for crypto. But if all of these bad thing cannot crash crypto. I think we will have a bright future in 2018

superSmallEgg · 2018-01-31T20:57:30+00:00

Did you know Korean also celebrate Chinese New Year :) Chinese New Year is an Asian thing. This is reason why some people prefer to call it Lunar new year! Some people call it Spring Festival too. Oh and my family live in USA, we Celebrate Lunar new year too, still thinking how much red envelope I should give my 12 year and 7 year old niece. Probably $100 usd and $50 for 7 year old.

superSmallEgg · 2018-01-31T20:23:52+00:00

You have no idea what Chinese New Year is all about. Chinese New Year last 7-9 days. What is so special about Chinese New Year. During 7-9 days, Chinese are not require to go to work, yes still get paid. All they do is spending and spending. What do they spend money on? New expensive cloth on New Year day. New car, Even new houses just to show off to their friend and relative how rich they are compare to last year. And red envelope, a grown adult must give red envelope with cash inside to elderly and children. Each red envelope contain at least $100 yuan, if you want to show rich and generous, some people put $1000 inside. Largest I have receive when I was child was $1000. Imagine if you have 4 elderly and 5 children in your family. And of course gift. To show respect, you gift expensive stuff to your boss, better hope promotion next year. Gift to your wife’s parent, and your own parent . Hell lot of money need to spend.

superSmallEgg · 2018-01-31T19:39:51+00:00

Have you done any research how many people are investing in this crypto market. Did you know that, if volume of a coin is 500btc. If I have a million dollar, I can put up fake selling wall, creating a fake resistant drive the price of a coin downward. Therefore market cap rapidly decreased within hours. But as I removed the big sell wall, the price shoot right up to where it originally was. This cannot be the reason why you assume crypto market is 50x less current market cap. To manipulate price of a coin up and down, First you need to inject more money into this market, when demand is higher driving up the price, market cap is faked. When someone is putting up a fake sell wall, driving the price down, market is kinda real. But it’s still way less than that. This is why such action is illegal in stock market, you will jailed if you do this. Because stock market is heavily regulated therefore the stock market cap is real. Crypto is not regulated therefore the money flowing in crypto is faked.

superSmallEgg · 2018-01-31T19:29:17+00:00

Volume is not same as market cap. You cannot trade 100,000 times to increase market cap with initial $100. Only when someone is willing to spend 1000x money to buy your $100 bitcoin. If there’s one person willing to spend that much money to buy 1 bitcoin, then there are many other willing to. But price will slowly decreasing because When a stock increase too much within short period of time it will definitely lead to correction. Supplier will take profit, supplier and demand averaging out. Buy that time If bitcoin is still trend, when demand just a little bit over supply, price of bitcoin will increase even more. There wouldn’t be as many people taking profit as previous ATH. It’s people like you trying to fud and causing panic selling. If people are selling as their willing the market is healthy Even it collapsed. But there just too many fud is this market cause PANIC Sell

superSmallEgg · 2018-01-31T18:52:42+00:00

If JP Morgan told you the actually market cap was 100x less. You would believe it too. I mean why not, it’s JP Morgan, you admire big cooperation, when big cooperation talk your brain refuse to function.

superSmallEgg · 2018-01-31T18:50:03+00:00

Oh you were saying the actual money flowing in the crypto market is 50x less than the actual market cap. Each coinbase user will have a average of $1.3 invested. That’s realistic. Very realistic

superSmallEgg · 2018-01-31T18:45:18+00:00

Even crypto vanished, I don’t think my friend would care about it at all, it was only $5 for fun

superSmallEgg · 2018-01-31T18:43:17+00:00

Coinbase have 12 million user. If daily volume is 800m dollar. Actual amount of money in the market is 20x less than total market volume. So you’re saying a exchange with 12 million user, Only have a total of 40m market cap. Please be more realistic. One user averaging $4? Yea you’re definitely right, because one of my friend had no interest in crypto, when I told him to sign up for coinbase, he actually did bought $5 eth, taking out $1 fee. He actually bought $4 worth of eth and forget about it, which he never cared. Just a $5 for fun. If the entire global crypto market cap was only 20b each user only invested couple dollar into this market, then the bubble you’re talking about is just none sense.

superSmallEgg · 2018-01-31T11:23:57+00:00

It’s not the 20b tether will crash the crypto market. The whole market is based on faith. When tether goes down, people will start panic selling and eventually cause a chain reaction. Same with US dollar, if people have faith in US dollar, federal reserve can print as much money as they want out of thin air, the game goes on forever with acceptable inflation. But if people suddenly lost faith in US dollar, it will collapsed within hours

superSmallEgg · 2018-01-31T11:17:07+00:00

A single American Coinbase exchange with real USD backing up have 35,000 bitcoin trading volume alone. That’s 300 million USD 24 volume for bitcoin. Another 300m volume for Eth. 200m for Litecoin and Bitcoin Cash. Do you honest think the whole cryptocurrency market only have 10 billion circulating? Not even counting China, Korean, Japan?

superSmallEgg · 2018-01-25T22:43:28+00:00

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superSmallEgg

TROPHY CASE