So imagine the market was trying to correct right now. However, wall street is holding the price here, people "selling the top" are unloading coins into wall street hands.
All the while they are scooping up futures contracts cheap for the 18-20k range.
As the futures come due, wall street intensifies buying, all the sellers FOMO back in, price is pushed way up over the futures contract prices.
Wall street ends up with stacks of coins they got for cheap, and stacks of dollars from futures profits!
(Cool story bro')
All the while they are scooping up futures contracts cheap for the 18-20k range.
As the futures come due, wall street intensifies buying, all the sellers FOMO back in, price is pushed way up over the futures contract prices.
Wall street ends up with stacks of coins they got for cheap, and stacks of dollars from futures profits!
(Cool story bro')
OK - but is that even the story? cos I don't think mainstream wall st has been very interested in BTC.
I simply probably will see it as simple as --- LTC buyers cash out by converting their LTC to BTC. Same could be said to other alts. BTC push up another 10% to breach $20K in 2 days time.
I dunno, what is the story? I have no idea, but I can speculate as much as the next guy
I'm not saying I'm right, but I'm saying its plausible and there is a strong profit motive for wall st to do such a thing.Why are LTC buyers cashing out? Sounds like you are just hoping BTC will go up, and trying to think of a reason why it could? Whats the compelling reason to bail out of LTC and into BTC right now.
More curious to me is why LTC has gone up so much in the past few days...