Bitcoin has surged to an all-time high of $7000, causing the alt-coins to drop in the process.
1:28 Market Recap
1:28 Bitcoin $7000 whilst causing alt “bubble”
4:00 Futures Trading Announcement by CME Group
7:09 Amazon just bought three domain names related to cryptocurrency
8:32 Blockchain and Cryptocurrency Regulations Are ‘Unnecessary,’ Reserve Bank of Australia
9:19 SEC on Celebrity “Endorsements”
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The CME announcement really put the afterburners on the rally. I don't think bitcoin would have made it to $7k without that news.
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Interesting
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Yes, very interesting. There is so much going on it is hard to pinpoint the reason.
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The way I view it, is that Holders of other cryptocurrencies sell in order to Buy BTC because they perceived an expanding bubble coming, the as they see the bubble aproximating blow up time, the sell and buy again other coins.
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Also known as the sloshing effect
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Thanks for this notion/idea/concept
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I will check you out! Interesting Post
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Well I don't thin Alt coin is a bubble because when Bitcoin rises alt coins fall and when bitcoin stays stable alt coins rises. That's what I have figured out in last few months.
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