so I just saw BTC dip 300$ in 5 minutes...literally looking at the 5min/candlestick chart...
for convenience sake lets say its a 3% drop in 5 min...with a market cap of $160bil this means +4.5 billion $ got sold in 5min...
I call bullshit on that...
the total crypto market cap is supposedly 460billion....bullshit again...for example bitcoin forks and bitcoin cash has 26billion$ market cap...polymath was airdropped and it suddenly has 240mil market cap
they literally calculate hot air + hot air = market cap
I suddenly feel optimistic that BTC can really reach 50 or 100K/coin
if only 10bil fiat is in the game, and the rest is hot air, I honestly think the fart-in-a-jar market could easily reach impossible heights before crashing like an anvil dropped from a plane...
just googled this:
"Nobody can tell for sure how much money were invested in cryptocurrency market, but analysts from JPMorgan say that net inflow of $6 billion resulted in $300 billion in market cap. Since then the market cap gone up a bit, so let's assume that the net inflow is $9 billion,"
https://medium.com/crypto-punks/teth...s-2984430e7e48
the article above is a good read, explains why tether may really crash the crypto market in a big way etc...