Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
"the absence of CNY currency volatility may dampen the price of Bitcoin" -- Arthur Hayes, BitMEX Crypto Trader Digest @BitMEXdotcom
why?
with less chinese volatility people that complain about Bitcoin being manipulated by the chinese may be less afraid and enter the market
or just create another excuse about why bitcoin is a bad investment
Your first thought is correct.
But whale traders (*cough* exchange owners/miners *cough*) are now worried that without 100X margin trading to incite huge volatility, they won't make the profits that they are Accustomed ToTM. And without that, bitcoin becomes just another run-in-the-mill small-cap speculative investment like all the others. Made up FUD wouldn't even work any more to significantly move the market. Miners would only get transaction fees.
All the shitty traders would have to migrate to shitty alt-coins to make any money. *shudder*
Aww waaah! Now only long term investors, merchants, and everyday users can benefit from Bitcoin.
Whatever shall we do???