As you all are aware of recent Aurora coin that shot up to $100 with market cap almost $ 1.2 Billion.
That is almost 15% of Bitcoin Market Cap.
Of course as predicted, everyone sell it off and now it is worth $ 1.49 with market cap of $ 15 m.
In almost all exchanges, all alt coins are quoted by xxx/BTC.
Hence, for example, a person wish to sell Aurora Coin, he has to change to BTC via AUR/BTC and then BTC/US.
This has TWO Major implication.
Firstly, it will PUSH the price down as he would SELL it to the highest buyer.
Secondly, the alt coin will "eat into" the Bitcoin Market Cap.
I wish to call upon all exchanges to either change this exchange model to a specific value that doesn't involved Bitcoin and normal people don't buy into all these alt coins.
As you can see, by doing this, you are actually causing more harm to Bitcoin price indirectly.
And this will be one of the times when I use broken grammar, and English:
kkk we believes you