I hate to break it to everyone, but CoinedUp listing this in two pairs - CAT/BTC and CAT/DOGE has probably ruined the chance of CAT climbing to the top like DOGE did
The trifecta of trading options makes this almost impossible:
CAT -> BTC
CAT -> DOGE
DOGE -> BTC
CAT/BTC cannot climb until everyone jumps ship on DOGE/BTC
CAT/BTC and CAT/DOGE can rise simultaneously The trifecta of trading options makes this almost impossible:
CAT -> BTC
CAT -> DOGE
DOGE -> BTC
CAT/BTC cannot climb until everyone jumps ship on DOGE/BTC
Nope, they cannot. Eventually the amount of DOGE you can for CAT will make it more profitable to sell those DOGE for BTC rather than trading in CAT/BTC, so CAT/BTC trading will have to go down to compensate.
For example, at current rates as of this moment:
CAT/BTC is 0.00085
CAT/DOGE is 1351
DOGE/BTC is .0000007
1 CAT buys 1351 DOGE which buys 0.0009457 BTC
Why would anyone trade CAT/BTC at 0.00085 when you can trade CAT -> DOGE -> BTC and make 0.0009457. Well over 10% more profit!
CAT/BTC cannot go up until either CAT/DOGE goes down, or DOGE/BTC goes down.
These three currencies are linked. CAT will not run like DOGE did, it cannot.
