Most of people speculate bitcoin dump because of 1st Aug event. But this is one of my assumptions: most of people will withdraw their bitcoin to the wallet, there will be less bitcoin on exchange causing low supply >>> price will increase. What's your opinion?
But the question is, are they really withdrawing their bitcoins to their personal wallet? What if they are cashing out their bitcoins already in order to avaoid more casualties? or what if instead of withdrawing, they are jumping on another boat (buying altcoins)? And since we experience major decline in the past days, it is obvious that it is either they cashed out or they jumped to alts.
=> USDT -> Bitcoin increasing -> Altcoin increasing too
I don't quite get your logic
Provided there is any, of course. First, what's the point of buying bitcoins with fiat and then buying altcoins with these bitcoins if you can buy altcoins directly with fiat? And second, I can't possibly see how it could ever give you 2x profit. In fact, I can't even see how you can get any profit at all unless Bitcoin continues to rise substantially above your entry point (which is not given either). Care to explain your reasoning and what am I missing here?
simple, not every country is able to buy altcoin with fiat... not all exchanges are worldwide.... some exchanges only allow people to buy bitcoins.... and this is why there people needs another site to convert them to altcoins....