Smart money is dumping btc on exchanges to hold down marks for contract coins. This much I know for a fact. I then speculate: When that dam breaks, there will be a mighty wave.
Thanks for the confirmation. I have long suspected that this is exactly what is going on.
And if they can cause a few panic sells and margin cascades and pick up even cheaper coins, all the better. When they have had their fill or strong enough demand comes from another source they will take it right back up again. The are just playing the long game and taking advantage of the current BTC inflation rate to pick up freshly mined coins at a leisurely pace and favourable price. Smart.
So to those who think BTC is broken if we go below $xxx ... rubbish.
In the meantime the infrastructure is being built to make BTC truly useable and more accessible.
Would not be possible to do this if BTC was already mainstream (well, perhaps possible, but harder and more risky)
This is actually bullish for the long term
I disagree that they would not go so far as to cause a crash. They are playing the long game where the goal is to pick up as many coins as cheaply as they can, prior to running it back up again. They will be the ones catching the falling knife in a crash scenario. It may very well be their endgame.
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