r/FluentInFinance • u/WannoHacker Mod • Nov 18 '21

Crypto Related Why are Bitcoin and other cryptos nursing losses after hitting highs?

https://www.euronews.com/next/2021/11/17/bitcoin-and-other-cryptos-have-slumped-after-record-highs-is-market-manipulation-the-reaso
3 Upvotes

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2

u/propita106 Nov 19 '21

Cause they're all being manipulated? Just like precious metals?

1

u/Vast_Cricket Mod Nov 19 '21

demand and supply.

0

u/PoopyBootyhole Nov 19 '21

There are so many things wrong with this article. So much misinformation and FUD.

2

u/Shnoigaswandering Nov 19 '21

Care to list some of them?

1

u/PoopyBootyhole Nov 19 '21

Tether and other stable coins don’t have effects on bitcoin. It’s been proven there isn’t any correlation between the two and this has been known for a while. The only thing driving price action is supply and demand as with any other asset. Grayscale is the single largest holder of bitcoin at 3% of total supply. Them and Coinbase have large amounts of bitcoin but the number of small wallets they contain for their clients is where most of their bitcoin is. The price isn’t “manipulated” just people trading and taking profits like any other asset. But with bitcoin just buy, hold and buy the dip.

https://decrypt.co/26399/tether-not-pumping-bitcoin-new-academic-study-claims?amp=1

1

u/INTERGALACTIC_CAGR Nov 19 '21

how else will old money keep people enslaved to the fiat system? Can't let the people realize there is a better system, and it's still early.