JP Morgan president Daniel Pinto, who could be in line to succeed Jamie Dimon, confirmed bank was “looking into” #Bitcoin saying #crypto “will play a role” in the future & that $JPM is able to trade $BTC futures but has not yet opted to do so.
Far cry from “Bitcoin is a fraud”
starting futures implies a drop in the market to lower levels, is it good? definitely yes! the market needs fire, a fight is needed that will push the price up, but before that the market needs to cool down as much as possible! now there is a very low interest of buyers, because there is always the possibility of two outcomes, descending to the bottom investors with a new fire in the chapters start investing in the market! + to the fact that the economic market is approaching its peak, which means another crisis is possible, which can play into the hands of the crypto currency, as large investors will want to transfer their assets!
Many people say, that the market capitalization has fallen, I'll tell you that these scam projects have disappeared from view and it was a bloated part of the capitalization.
To conclude this educational post, I will explain you what is the market? Or better to ask you what is the market cap? Current market cap is $ 405 billion. Do you really believe that there is $ 405 billion in crypto?
No, the answer is no! There is no $ 405 billion in crypto but less! Why?
I will give you an example that will prove you everything!
I launch my own coin that has 1 trillion coins in total supply and I have not got all of them so circulating supply is equal to total supply. I pay a few. I did not go through the ICO so all the coins are in my wallet. I put a sell order at $ 1 and I tell my friend to buy at that price! Just one coin. Question for you? What will be the price on the market cap? Price will be $ 1. What will be the market for this coin? The market cap will be price * ciruclating supply = $ 1 trillion. Do I have $ 1 trillion in this coin? Absolutelly not! But I have coins with estimated value of $ 1 trillion but if I start selling them someone will buy 1 coin for $ 0.0000001 and I will be holding coins that are worth few bucks! I hope you got the point!
The price does not represent the value of coin. So, 1 buyer can change price let's say 1 cent. If coin has one of the trillion, it means that 1 buyer can change the market cap for $ 10 billion?!? Tell me if that is real?
Far cry from “Bitcoin is a fraud”
starting futures implies a drop in the market to lower levels, is it good? definitely yes! the market needs fire, a fight is needed that will push the price up, but before that the market needs to cool down as much as possible! now there is a very low interest of buyers, because there is always the possibility of two outcomes, descending to the bottom investors with a new fire in the chapters start investing in the market! + to the fact that the economic market is approaching its peak, which means another crisis is possible, which can play into the hands of the crypto currency, as large investors will want to transfer their assets!
Many people say, that the market capitalization has fallen, I'll tell you that these scam projects have disappeared from view and it was a bloated part of the capitalization.
To conclude this educational post, I will explain you what is the market? Or better to ask you what is the market cap? Current market cap is $ 405 billion. Do you really believe that there is $ 405 billion in crypto?
No, the answer is no! There is no $ 405 billion in crypto but less! Why?
I will give you an example that will prove you everything!
I launch my own coin that has 1 trillion coins in total supply and I have not got all of them so circulating supply is equal to total supply. I pay a few. I did not go through the ICO so all the coins are in my wallet. I put a sell order at $ 1 and I tell my friend to buy at that price! Just one coin. Question for you? What will be the price on the market cap? Price will be $ 1. What will be the market for this coin? The market cap will be price * ciruclating supply = $ 1 trillion. Do I have $ 1 trillion in this coin? Absolutelly not! But I have coins with estimated value of $ 1 trillion but if I start selling them someone will buy 1 coin for $ 0.0000001 and I will be holding coins that are worth few bucks! I hope you got the point!
The price does not represent the value of coin. So, 1 buyer can change price let's say 1 cent. If coin has one of the trillion, it means that 1 buyer can change the market cap for $ 10 billion?!? Tell me if that is real?
Comment:
Now BTC is testing at the lower border of the channel. There is a tendency to reduce weekly maximum prices, which proves that we are in the bearish phase and have not yet emerged from it, + to everything we are moving in a downward triangle as on my last idea that I will attach below
Comment:
