👏 US SEC approves bitcoin ETFs in watershed for crypto market 👏
(www.reuters.com)
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The problem with your theory is that bitcoin is a very limited supply currency.
In order for them to gain enough control of the supply to play this game… they would have to quite literally drive bitcoin price up by many multiples of its current value.
The price value movement when a purchase of 1 BTC is made on the market, is much stronger than an equivalent purchase in gold.
I think you are underestimating the power and size of the derivatives market.
You could make the same argument for platinum or palladium. On a big enough scale a single buyer could manipulate the market, yet the value goes down even as inflation goes up.
Bitcoin doesn’t inflate.
no kidding. the derivatives market that controls the algos does.
you see what I'm talking about today? If all the big banks have to make large purchases of BTC, why is it going down 5% in a day?
DERIVATIVES
It’s down because “sell the news”
Trust me, by end of this year we will see BTC reach near $100k per coin, or above it.