$3 billion in 'dust' to enter the market will push the bull run past the halving - page 2.

pawanjain

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Quote from: NeuroticFish on April 21, 2020, 04:03:59 AM

So they keep the stable coins waiting and instead of buying now while the price is low, they are waiting for .. a certain block to pass in order to buy?
No. If they do that it'll be just a psychological tactic that'll actually do a big scale pump and dump. Which is not unusual at halving events.
Imho the real price growth may happen only when miners will not be willing anymore to sell cheap the much more hardly earned coins.

You are probably right. Why would anybody wait for a block to pass by and buy BTC when they can buy it right now for a lesser price unless they know that past the block the price will dump. But how can somebody be so sure when crypto market is so volatile and purely based on demand and supply.

According to me, the news must just be another FUD or there must be pre planned strategy which they are trying to execute.

rdbase

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Quote from: NeuroticFish on April 21, 2020, 04:03:59 AM

So they keep the stable coins waiting and instead of buying now while the price is low, they are waiting for .. a certain block to pass in order to buy?
No. If they do that it'll be just a psychological tactic that'll actually do a big scale pump and dump. Which is not unusual at halving events.
Imho the real price growth may happen only when miners will not be willing anymore to sell cheap the much more hardly earned coins.

The exact same thing which is happening to the oil market.
People were waiting for it to reach negative territory looking to reap on an opportunity to get massive gains once it recovers. And it will recover because the world runs its global businesses on it. Sad

Quote from: DooMAD on April 21, 2020, 07:20:18 AM

I often wonder if small companies sometimes make deliberately outlandish statements just to garner media attention. It now doesn't matter whether their analysis is right or wrong, they've got their free publicity now.

My personal opinion is that the dollar figure you place on so-called "stablecoins" is utterly meaningless because many of them likely aren't fully backed (as the centralised companies that control them would have you believe). And even if they were fully backed by real-world assets, it's still just a cheap duplication of the value of the underlying assets. You're literally trading IOUs for something that may not even exist and have to place full trust in a company that, not only does it really exist, but also that you have a genuine and tangible claim to the funds the stablecoin supposedly represents. Why would you even get involved with something that shady?

Stablecoins are a scam. One of the most ridiculous things in all of crypto.

Stablecoins are a scam, as we have all witnessed what tether has done and is continuing to do to bitcoin and cryptocurrencies as a whole.
They do cause massive disruptions in the price when there are a sell off and a buy back on a whim. Thus the sharp volatility swings in the crypto market ever since the concept of stablecoins came into existence. Angry

DooMAD

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Leave no FUD unchallenged

I often wonder if small companies sometimes make deliberately outlandish statements just to garner media attention. It now doesn't matter whether their analysis is right or wrong, they've got their free publicity now.

My personal opinion is that the dollar figure you place on so-called "stablecoins" is utterly meaningless because many of them likely aren't fully backed (as the centralised companies that control them would have you believe). And even if they were fully backed by real-world assets, it's still just a cheap duplication of the value of the underlying assets. You're literally trading IOUs for something that may not even exist and have to place full trust in a company that, not only does it really exist, but also that you have a genuine and tangible claim to the funds the stablecoin supposedly represents. Why would you even get involved with something that shady?

Stablecoins are a scam. One of the most ridiculous things in all of crypto.

davis196

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Quote from: rdbase on April 20, 2020, 05:36:24 PM

According to messari a crypto data gathering company has explained all this dust is just accumulating ready and posed to enter the crypto space soon.
https://dailyhodl.com/2020/04/19/3000000000-in-dry-powder-poised-to-enter-bitcoin-btc-and-cryptocurrency-markets-messari-ceo

Been listening to them since they are a website many are using now with turning away from using coinmarketcap at being a centralized market watching website with the acquisition by binance a month ago.

3 billion USD for me is just "meh"... Grin

It might pump the crypto prices by 10% but that's all.We need tens of billions of dollars,even trillions to make Bitcoin hit the moon.3 billion US dollars isn't even worth discussing.
I've never heard about this Messari company and I don't know what makes you think they are more legit than Coinmarketcap?I don't claim that Coinmarketcap are "trusted" after Binance bought them,but why Messari should be considered more trusted than CMC?

avikz

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Quote from: rdbase on April 20, 2020, 05:36:24 PM

According to messari a crypto data gathering company has explained all this dust is just accumulating ready and posed to enter the crypto space soon.
https://dailyhodl.com/2020/04/19/3000000000-in-dry-powder-poised-to-enter-bitcoin-btc-and-cryptocurrency-markets-messari-ceo

Been listening to them since they are a website many are using now with turning away from using coinmarketcap at being a centralized market watching website with the acquisition by binance a month ago.

I seriously doubt about the statement. 3 billion USD is a huge amount and looking at the current gloomy situation, it's hard to believe that crypto traders have kept such a huge amount in holding so that they can buy into their favorite cryptocurrencies!

Also I don't get the logic of claiming CMC as a centralized website after Binance acquisition. It was always a centralized website from the beginning. Binance just acquired the business without any change in their standard operating procedures. It's not harmful to the community!

thesmallgod

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Quote from: Lucius on April 21, 2020, 05:05:15 AM

If anyone wanted to buy cheap anything (crypto, stocks, gold ...) the opportunity came about a month ago when everything went down. The amount of funds transferred to stable coins just tells us that many investors have decided to protect themselves from a possible new drop, which is being persistently announced by some alleged experts. According to them, the new bottom will be below $3000, because the stock market will collapse at least once again and crypto will follow.

$3 billion is big money, however, it is only an assessment, same as that all that money will end up buying some coins. Some will stay on exchanges, some will be converted to fiat and withdraw to bank accounts.

I saw multiple report similar to what you have posted. If this happen I am very sure it will open door for some people to buy more and also some that bought high will be the victim here. I believe a lot of people are scared of entering the market now and this is the reason why stable coin volume is increasing gradually

btc_angela

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First we have to look at the people behind predicting this:

Quote

CEO of blockchain database startup Messari

So obviously, there is some biased about his prediction, although he back it up with data, I think this is a weak argument. Investors are hedging their funds on stable coins because of the volatility of the market but it doesn't mean that once they got out, they are going to pour everything on bitcoin and ethereum or XRP.

Lucius

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If anyone wanted to buy cheap anything (crypto, stocks, gold ...) the opportunity came about a month ago when everything went down. The amount of funds transferred to stable coins just tells us that many investors have decided to protect themselves from a possible new drop, which is being persistently announced by some alleged experts. According to them, the new bottom will be below $3000, because the stock market will collapse at least once again and crypto will follow.

$3 billion is big money, however, it is only an assessment, same as that all that money will end up buying some coins. Some will stay on exchanges, some will be converted to fiat and withdraw to bank accounts.

NeuroticFish

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So they keep the stable coins waiting and instead of buying now while the price is low, they are waiting for .. a certain block to pass in order to buy?
No. If they do that it'll be just a psychological tactic that'll actually do a big scale pump and dump. Which is not unusual at halving events.
Imho the real price growth may happen only when miners will not be willing anymore to sell cheap the much more hardly earned coins.

rdbase

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According to messari a crypto data gathering company has explained all this dust is just accumulating ready and posed to enter the crypto space soon.
https://dailyhodl.com/2020/04/19/3000000000-in-dry-powder-poised-to-enter-bitcoin-btc-and-cryptocurrency-markets-messari-ceo

Been listening to them since they are a website many are using now with turning away from using coinmarketcap at being a centralized market watching website with the acquisition by binance a month ago.

Topic: $3 billion in 'dust' to enter the market will push the bull run past the halving - page 2. (Read 434 times)