Coindesk says that last night saw the largest sell-off in the cryptocurrency markets since July 15 – $13bn (7% of all crypto market cap).
7% sell-off of the entire crypto supply: that would only indicate that very few people own a large percentage of all crypto supplies (it would be so funny if it was central banks after all; interestingly, when in September 2016, the FBI shut down the Silk Road online drug marketplace, and it started seizing bitcoins belonging to the Dread Pirate Roberts — the operator of the illicit online marketplace, it made the FBI the holder of the world’s biggest Bitcoin wallet…).
What differs that 7% sell-off from the previous 2015 12% sell-off is that the previous one - which saw prices dropping by 25% - was driven by concerns over technical problems - this one is not...
Give a lot to think. Hopefully we know more in the next 2 months.
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