Post
Topic
Board Bitcoin Discussion
Re: Crypto Mega Breakout - 56 billion dollars in a few hours !!
by
btc_angela
on 26/10/2019, 14:56:02 UTC

This is totally amazing and of course there are some questions:

- Where does the money come from? From institutions and banks? From large investors?

We don't know, perhaps it come from any one of them.

- Why do nearly all Altcoins quickly increase at the same time?

Because Altcoins follows Bitcoin prices movement.

- On which exchanges can be trade so much money in such a short time?

Usually top and reputable exchanges.

- Who knows about such breakouts before?

- etc ...

No one knows because we don't have crystal balls to predict some breakout.

In addition, BTC was in a downtrend before 24h and close to a DeathCross. The resistance was very strong and yet my short-possition was blown up like a nuclear war star and totally shredded. Of course everything is possible, but it is incredibly impressive how much money flows into the market in such a short time and apparently everything at the same time and with nearly all Altcoins.

The last time we crossed a Death Cross, bitcoin also made a significant gain. So perhaps it's just a coincidence or just people FOMO'ing resulting in a massive spike in the price.