2021-1-2 Coindesk - Bitcoin Worth $1B Leaves Coinbase as Institutions ‘FOMO’ Buy - page 2.

figmentofmyass

legendary

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Quote from: bbc.reporter on January 03, 2021, 09:06:01 PM

I am very skeptical of this article. Institutional investors do not fomo buy similar to ordinary investors.

says who?

institutions aren't some mythical beings that only buy bottoms and sell tops. they may have stronger hands than retail---because they have deeper pockets---but they chase markets like everyone else.

Quote from: bbc.reporter on January 03, 2021, 09:06:01 PM

Also, a judge will determine Tether’s case on January 15. Might this be Tether held in exchanges are traded quickly for bitcoin for safety?

nope, the 35k outflow came from coinbase, who doesn't support USDT.

bbc.reporter

legendary

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I am very skeptical of this article. Institutional investors do not fomo buy similar to ordinary investors. Also, a judge will determine Tether’s case on January 15. Might this be Tether held in exchanges are traded quickly for bitcoin for safety?

pixie85

hero member

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Quote from: hv_ on January 03, 2021, 03:43:02 PM

Tether folks now they need plenty of money for legals. Damage already done, so pump for ....

Holy fck

And then they'll tell some of their wall street friends to short it and we'll get news from tether CEO saying on twitter sorry folks, we're insolvent. Then there will be a dump and he'll come back saying his account got hacked and people will buy again and then we'll hear that he really was insolvent needed time to flee the country.
Are we backed? Yes we are... In a way... Partially... By our own stock Cheesy

hv_

legendary

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Clean Code and Scale

Tether folks now they need plenty of money for legals. Damage already done, so pump for ....

Holy fck

Lucius

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Blackjack.fun-Free Raffle-Join&Win $50🎲

What is interesting in this particular case is that all these BTCs actually remain in the possession of Coinbase - in other words they just move into their cold wallets. From the perspective of those of us who know what Bitcoin really is, it seems a bit ridiculous - but when it comes to security it may be better to be taken care of by professionals - I'm sure most of these big investors wouldn't be good at it.

As for FOMO, I think many of them missed the right opportunities if they only now decided to invest, as if BTC was created only last year. Message to everyone who has BTC in their possession, don’t sell it at these low prices, because if they are willing to pay over $30k now ask yourself how much it is actually worth.

acquafredda

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Quote

On-chain data shows big money continues to chase bitcoin amid the frantic bull run. That’s a sign of institutions catching the “FOMO” bug, according to one analyst.

Institution-focused Coinbase Pro exchange registered an outflow of over 35,000 bitcoin worth more than $1 billion early Saturday, according to data source CryptoQuant.
The large outflow comes a day after 12,063 coins left the exchange and represents institutional FOMO (Fear Of Missing Out) buying, according to Ki Young Ju, CEO of the Korea-based blockchain analytics firm CryptoQuant.

https://www.coindesk.com/bitcoin-worth-1b-leaves-coinbase-as-institutions-fomo-buy-analyst

When even Coindesk talks about FOMO, I am thinking I do not understand what is happening! Or, maybe, I really do.

Topic: 2021-1-2 Coindesk - Bitcoin Worth $1B Leaves Coinbase as Institutions ‘FOMO’ Buy - page 2. (Read 238 times)