Post
Topic
Board Economics
Re: Fidelity just made it easier for hedge funds and other pros to invest in crypto
by
davis196
on 30/10/2018, 07:05:19 UTC
Quote
There's a chance the recent decline in bitcoin's price we've witnessed is linked to this development. Hedge funds and whales could be pushing the price of bitcoin down to create an entry point for themselves to buy in. This could represent another indication bitcoin is hitting the prime time, although without the vast leaps in price valuation many of us expected. Perhaps we still might still see a price spike around black friday and christmas holidays?

Data points on their infrastructure utilizing cold storage reminded me of xapo storing bitcoin in nuclear bomb shelters--I wonder what ever happened to them. Seems like there hasn't been a reference made to them in some time.

The recent decline in the bitcoin price is just few hundred dollars.If the "crypto whales manipulation" theory is right,the whales will try to push the price to a "price crash/panic" level at 4000 USD or maybe under 3K USD.
This has nothing to do with Fidelity and their crypto related projects.
By the way,storing bitcoins in nuclear bomb shelters is a stupid idea.Perhaps Xapo abandoned that project.