RE: What if everyone sold ALL their Altcoins and they used all the funds to buy only Bitcoins?

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What if everyone sold ALL their Altcoins and they used all the funds to buy only Bitcoins?

in bitcoin •  7 years ago 

I think the problem here lies in getting alt coin traders to give up their alt coins, and the potential trading profit, for an effectively finite amount of bitcoin, which would make the price skyrocket, certainly, but leaves them in a position where they don't have nearly as much bitcoin as they want, or could have made from trading alts. Also, given the recent boom of bitcoin over 4k, into the 44xx range I believe, it's likely that traders would much rather wait possibly a few months to see bitcoin hit that price, while trading alts against it and making more bitcoin, than to sell their alts for a finite amount of bitcoin.
That being said, this would be pretty intense to see.

P.S. I'd be out buying those dips.

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