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Author Topic: 2017-12-07 Crypto Coins News - Bitcoin Price Goes Parabolic, Cannibalizes Crypto  (Read 76 times)
Ealex
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December 09, 2017, 09:14:21 AM
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Bitcoin Price Rips Through $15,000

Throughout the first week of December, the bitcoin price has been rising at a breakneck pace. In the past day alone, bitcoin rose more than $2,000, clipping past the $13,000, $14,000, and $15,000 markers in quick succession. This morning, the bitcoin price threatened to break through $16,000, too, but the rally ultimately stalled at a global average of $15,549.

Read more at: https://www.cryptocoinsnews.com/bitcoin-price-goes-parabolic-cannibalizes-crypto-market/
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December 09, 2017, 12:35:52 PM
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Unbelievable volume around $17 Billion for a day, I think it is the first time in Bitcoin's history to have more than 1 Million BTCitcoins in exchanges. and now price has dropped more and is $14.400 while alt coins are rising. even if I beg it wont change anything, so I'm not going to beg, sell your Bitcoins to pump every coin you are holding, just invest 1% into my activity tokens. sad lol.

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December 09, 2017, 12:59:36 PM
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Unbelievable volume around $17 Billion for a day, I think it is the first time in Bitcoin's history to have more than 1 Million BTCitcoins in exchanges. and now price has dropped more and is $14.400 while alt coins are rising. even if I beg it wont change anything, so I'm not going to beg, sell your Bitcoins to pump every coin you are holding, just invest 1% into my activity tokens. sad lol.

I think the actual amount of Bitcoin on exchanges is lower than 1M BTC. The volume can also be explained by the fact
that the same BTC are traded multiple times.

Bitfinex is the biggest exchange by volume and they have roughly ~120k BTC in their cold wallet:
https://bitinfocharts.com/de/bitcoin/address/3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r

You have to realize that a big part of exchange trading volume is not manual traders, but (arbitrage) bots.
They often do a ton of tiny trades and therefore create a lot of trading volume, while actually moving very
little BTC.

Besides, the reported trading volumes of many exchanges should be taken with a grain of salt. Especially
the Korean exchanges, which offer possibilities for zero fee trading, which artificially inflates trading volumes.

matuson
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December 09, 2017, 01:04:50 PM
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This happened multiple times. Now altcoins will take the excess Fiat which does not fit in bitcoin. It won't be long. People get used to high prices for bitcoin. He stabiliziruemost and then investments will again flow. People just have to accept the fact that we're in. Then they will have hope for future growth.
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