Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Herbert2020
on 18/04/2017, 05:56:47 UTC
I don't know why you think that but according to coinmarketcap it has the fourth highest trading volume, only after Bitcoin, Litecoin and Ethereum.  It's responsible for about 4% of the total.

you are simply making the oldest mistake in the book. the mistake of not looking at the bigger picture. the volume has recently gone up because of 3 main reasons:

1) bitfinex situation is bad and USDT is tethered (lol) to that exchange for the most part so people are selling to get out with USDT since they can not do it with USD

2) the price of USDT tanked. it went down from $1 to $0.96 and that always increases the volume. and that is a 4% decline which is huge in something that is supposed to be worth a fixed $1 value.

3) there is always possibility of reporting fake volume by exchanges to bring themselves up in the lists such as coinmarketcap, it is like free advertising.

now go check the volume in long term. look at them for example in a couple of months back when things were normal and then come back and compare that volume (hint: 500K dollar) with today's volume (hint: 21 mil dollar)