Is it possible people have traded their crypto currencies for World Cup ?

[Ctn]

As the title says I am sure everyone might have already gotten my question here.

World Cup is on going and people are always having fever of football when it comes to the World Cup. The biggest game of all time and millions of fans around the world.

In such period betting comes very handy and people are always looking forward to earn huge bucks from it. No matter what I believe that those who were already in the Crypto Currency they might have exchanged their funds into the fiat currency.

For time being they might not be focusing and thats why market has got crashed?

[Tytanowy Janusz]

As the title says I am sure everyone might have already gotten my question here.

World Cup is on going and people are always having fever of football when it comes to the World Cup. The biggest game of all time and millions of fans around the world.

In such period betting comes very handy and people are always looking forward to earn huge bucks from it. No matter what I believe that those who were already in the Crypto Currency they might have exchanged their funds into the fiat currency.

For time being they might not be focusing and thats why market has got crashed?

I daubt about that. We are far away from 2009-1010 where bitcoin marketcap was that small that witdrawing 10 000$ from market would dump it.

Do you realy think that those few gamblers quting market will dump it? Would syrious investor sell his bitcoin at the bottom to bet on his team? Would professional investor invest all his capital into crypto to have to sell cryto to fiat to bet on team - realy? - doesn't he have any extra money to bet?

You are talking about few shit-investors that put his last 500$ into bitcoin and now its worth 250$ and he decided to withdraw it and bet on his team. It would not move the market where we have 200 btc+ transactions and 2000+ walls eaten during run below 6000.


Huge investors are in now. And they dont gamble on world cup. And even if they do they dont invest 100% into bitcoin.

[Ctn]

As the title says I am sure everyone might have already gotten my question here.

World Cup is on going and people are always having fever of football when it comes to the World Cup. The biggest game of all time and millions of fans around the world.

In such period betting comes very handy and people are always looking forward to earn huge bucks from it. No matter what I believe that those who were already in the Crypto Currency they might have exchanged their funds into the fiat currency.

For time being they might not be focusing and thats why market has got crashed?

I daubt about that. We are far away from 2009-1010 where bitcoin marketcap was that small that witdrawing 10 000$ from market would dump it.

Do you realy think that those few gamblers quting market will dump it? Would syrious investor sell his bitcoin at the bottom to bet on his team? Would professional investor invest all his capital into crypto to have to sell cryto to fiat to bet on team - realy? - doesn't he have any extra money to bet?

You are talking about few shit-investors that put his last 500$ into bitcoin and now its worth 250$ and he decided to withdraw it and bet on his team. It would not move the market where we have 200 btc+ transactions and 2000+ walls eaten during run below 6000.


Huge investors are in now. And they dont gamble on world cup. And even if they do they dont invest 100% into bitcoin.

Well you didn't get my point. The soccer market is very huge and followers of the betting world are even more than that. I am asking what if they already move their coins from crypto to fiat a month ago to get ready for the soccer trades? What if that was the reason why crypto started pulling itself downwards and then some weak handed started to follow this, got panicked and then put us into the market situation which we are currently experiencing here. It is really disastrous to see how that go on mega level from small groups. But when its soccer, the small group could be of million peoples. 

[Pursuer]

it is possible that some people liquidated their investment to get the money needed for expenses including gambling habits but the real question is whether their selling have affected the price or not?

the answer is No. these drops had nothing to do with them because first of all people don't liquidate their assets to cover their costs, everyone has money in their pocket and bank accounts to do that. you don't go around selling your stocks, gold, or your house to make a trip or gambler,...!
secondly these drops that you are seeing all around the altcoin market are perfectly normal and they happen every year. we have altcoin pumps which usually last a couple of months but last year lasted most of the year then we have the altcoin dumps which come right after. look at the charts for more information. last year's was big but it is the same pattern. and we will have the same when pump and dump pattern after this is all done.

regarding bitcoin, it is somewhat normal. the drop has become bigger than it should have but it is also the same pattern. we have this kind of zig zag rise where bitcoin takes 2 steps up then 1 step down. and sometimes it is 10 steps up in a short time so it should take 5 steps back down. in the end you are still going up.

[posi]

You definitely make a point mate because it something I have also done before but I don't think this will be the main reason for the dump in price of the market because the host nation is cryptocurrency friendly and we have various of crypto currency sport betting site. However, the whales have flooded the market before the World cup kick off.

[Slow death]

As the title says I am sure everyone might have already gotten my question here.

World Cup is on going and people are always having fever of football when it comes to the World Cup. The biggest game of all time and millions of fans around the world.

In such period betting comes very handy and people are always looking forward to earn huge bucks from it. No matter what I believe that those who were already in the Crypto Currency they might have exchanged their funds into the fiat currency.

For time being they might not be focusing and thats why market has got crashed?

I daubt about that. We are far away from 2009-1010 where bitcoin marketcap was that small that witdrawing 10 000$ from market would dump it.

Do you realy think that those few gamblers quting market will dump it? Would syrious investor sell his bitcoin at the bottom to bet on his team? Would professional investor invest all his capital into crypto to have to sell cryto to fiat to bet on team - realy? - doesn't he have any extra money to bet?

You are talking about few shit-investors that put his last 500$ into bitcoin and now its worth 250$ and he decided to withdraw it and bet on his team. It would not move the market where we have 200 btc+ transactions and 2000+ walls eaten during run below 6000.


Huge investors are in now. And they dont gamble on world cup. And even if they do they dont invest 100% into bitcoin.

Well you didn't get my point. The soccer market is very huge and followers of the betting world are even more than that. I am asking what if they already move their coins from crypto to fiat a month ago to get ready for the soccer trades? What if that was the reason why crypto started pulling itself downwards and then some weak handed started to follow this, got panicked and then put us into the market situation which we are currently experiencing here. It is really disastrous to see how that go on mega level from small groups. But when its soccer, the small group could be of million peoples. 

I agree with what @Tytanowy Janusz said. Investors who have invested in bitcoin must have other sources of income to buy tickets for the world cup or even to place bets on soccer games. Another thing, even had a small group of people who would sell their bitcoins to make bets on games, I highly doubt that this would affect the market. which is affecting the market is the lack of demand and we have lack demand because of regulations and banks that are creating barriers for people who want to buy or deal with bitcoin

[Thanasis]

As the title says I am sure everyone might have already gotten my question here.

World Cup is on going and people are always having fever of football when it comes to the World Cup. The biggest game of all time and millions of fans around the world.

In such period betting comes very handy and people are always looking forward to earn huge bucks from it. No matter what I believe that those who were already in the Crypto Currency they might have exchanged their funds into the fiat currency.

For time being they might not be focusing and thats why market has got crashed?

But gambling can be even done wih the crypto currencies with ease so they no need to convert their crypto into fiat so it may not be a reason but they maybe exchanged their crypto for their expenses but it may not leads to this much of fall in the crypto currency prices.

[eaLiTy]

As the title says I am sure everyone might have already gotten my question here.
World Cup is on going and people are always having fever of football when it comes to the World Cup. The biggest game of all time and millions of fans around the world.
In such period betting comes very handy and people are always looking forward to earn huge bucks from it. No matter what I believe that those who were already in the Crypto Currency they might have exchanged their funds into the fiat currency. 
For time being they might not be focusing and thats why market has got crashed? 

The current market situation has nothing to do with the world cup, the situation you are implying might be true with casual traders but serious investors wont treat their investment like that, the current market slide is because of a serious of negative news and if you are not aware of it, the market always follows the current sentiment around the world and it will have an impact when ever there is a negative news, it is just an opportunity to enter at a low price and hold for the long term, i just consider this situation like that and nothing else.

[ralle14]

People dumping their crypto for the World Cup is a possibility but I don't agree on the crashing part. There are millions of soccer fans but not a lot of them invests on Bitcoin and suddenly thought about dumping them just so they could bet.

What if that was the reason why crypto started pulling itself downwards and then some weak handed started to follow this, got panicked and then put us into the market situation which we are currently experiencing here.

What if there were other reasons behind this crash and the World Cup wasn't even related to begin with?  Stop speculating about the World Cup having a chaotic impact on the price.

[ukloon]

There is no need to cash out and bet on the world cup when you can use an altcoin for P2P decentralised and anonymous betting. The privacy features will allow you to bet in countries where it is not permitted. Check WAGERR COIN out for more details:  https://medium.com/@WagerrSports/wagerr-the-only-global-betting-market-for-the-2018-world-cup-9c7a8399cce7

[pey]

Yes bitcoin has crashed because of world cup  I am sure that it has really no effect on the price at all. Lots of people always exchange their coins with fiat money for such reasons, they can't be reason for crash.

[kryptqnick]

World Cup is on going and people are always having fever of football when it comes to the World Cup. The biggest game of all time and millions of fans around the world.

In such period betting comes very handy and people are always looking forward to earn huge bucks from it. No matter what I believe that those who were already in the Crypto Currency they might have exchanged their funds into the fiat currency.

I honestly think that people interested in football are usually not the same people that are interested in bitcoin. Bitcoin is mainly a thing for programmers, economists and free market ideologies. Football is for people who need to be distracted from their hard-working life. However, we shouldn't base our guesses on naked assumptions. Let's check the data instead. Unfortunately, we only have the FIFA 2014, as btc there's no data on btc dynamics during  the Cup before that. Bitcoin was on the downward tendency back then, but the price was pretty stable around $600. It is indeed not enough data for any conclusions, but I'll go with no,

[cryptowolfsu]

I do not think that World Cup had a significant influence on the BTC price decrease as myself would never sell Crypto to make
bets  as Crypto is for a long term investment. Using other sources for betting. World Cup could have influence on Crypto but on
a different way: as Crypto investors are mainly males their focus is rather on World Cup these days than on Crypto and it could influence
the demand but that is not the main reason for price crash.

[carlfebz2]

As the title says I am sure everyone might have already gotten my question here.

World Cup is on going and people are always having fever of football when it comes to the World Cup. The biggest game of all time and millions of fans around the world.

In such period betting comes very handy and people are always looking forward to earn huge bucks from it. No matter what I believe that those who were already in the Crypto Currency they might have exchanged their funds into the fiat currency.

For time being they might not be focusing and thats why market has got crashed?

Among into those million fans you had mentioned, how many are aware into crpytocurrency? I doubt only a small percentage only which i dont even consider this to be a factor or included on the reason why the market crashed. World Cup is indeed a big event but i dont see that it would be considered as a problem or factors which do affect the entire crpyto community. Gambling industry is there to crypto people but amounts being risk or putted arent really too big.

[bitllionaire]

Yes bitcoin has crashed because of world cup  I am sure that it has really no effect on the price at all. Lots of people always exchange their coins with fiat money for such reasons, they can't be reason for crash.

I do not think that bitcoin price has crashed, although bitcoin price is trading too much low, but still investors are not getting disappointed, i think that still they are hopeful and having good expectation from bitcoin that its price will once again get an acceleration and will reach to a good point, i also do not think that bitcoin price is down because of football world cup.

[Ctn]

Thats good thing I got the responses from different people here. I wanted to know about this since the crash started and we entered the FIFA.

It does look like FIFA has got nothing to do with the current crash at all. I always thought that FIFA betting is what responsible for the current drop because people got attracted to it and they withdrew their money from the crypto space itself.

As the title says I am sure everyone might have already gotten my question here.

World Cup is on going and people are always having fever of football when it comes to the World Cup. The biggest game of all time and millions of fans around the world.

In such period betting comes very handy and people are always looking forward to earn huge bucks from it. No matter what I believe that those who were already in the Crypto Currency they might have exchanged their funds into the fiat currency.

For time being they might not be focusing and thats why market has got crashed?

Among into those million fans you had mentioned, how many are aware into crpytocurrency? I doubt only a small percentage only which i dont even consider this to be a factor or included on the reason why the market crashed. World Cup is indeed a big event but i dont see that it would be considered as a problem or factors which do affect the entire crpyto community. Gambling industry is there to crypto people but amounts being risk or putted arent really too big.

This quote here makes complete sense. The possibility that out of those millions people, most of them being crypto based is very less. So the net effect is almost zero and there is no sense at all with FIFA and crypto crash. Finally!

[Nahl]

most of people currently not focus for their works because they mostly watching world cup games everyday but i think there is no related between world cup tournament with crash situations from crypto even use cryptocurrencies possibly increasing because people bets use bitcoin or altcoins for world cup through their favourite sport betting

[zhekinsp]

It looks too much weird for saying that World cup causes the price crash in the crypto currencies but I don't think so because most of the people involved in the crypto maynot be that uch involved in the entertainment so they won't lose their valuable crypto for watching the football this is just my own opinion.

[vit05]

This is a very stupid way of thinking. Countries, where people invest a lot in crypto, do not care so much about football. EUA is not in the world cup. Japan and korea are not so huge.

[robotrobert]

This is a very stupid way of thinking. Countries, where people invest a lot in crypto, do not care so much about football. EUA is not in the world cup. Japan and korea are not so huge.

Right. Most of those who have invested in Bitcoin might not watch world cup and would rather love to play. I do not see a big effect of the football world cup on the crypto market and by the way the crypto market was falling long before the world cup had started. Having said that, I would conclude that we have to focus on the market and not on the world cup for world cup is of little incentive or utility.