Massive Program Buy in Crypto Last Week? (15 June 2015) Start of Something Big? - page 2.

neurotypical

hero member

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Quote from: tyz on June 21, 2015, 06:41:33 AM

Well, much fiat money has been withdrawn from emerging market countries because of the economical uncertainties around the world. This money is looking for new investment opportunities and some of it has probably flowed into crypto currencies. For a price increase of the last week, only a few millions of dollars are needed because the liquidy for most coins is bad. So you don't need much money to increase price of most coins by at least 50% percent.

Definitely this week is a fiat leak week. What I don't get is the pumps happening in alts, mainly Litecoin and Dogecoin. It can't be just a fiat leak, there are pump groups playing with that and probably fooling noobs into participating on their pump and dumps. I hope that no greek puts their wealth in LTC or DOGE only because they are rising atm.

plumptoiletduck

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There has been a lot of old coins pumping for no reason, all the activity seems to be from China. My theory is that profit takers from the overblown Chinese stock markets are using their money to buy or pump altcoin. Volume is still low however, so it can't be many people.

Next week will be interesting, as we should see what will happen in Greece.

HR

legendary

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Transparency & Integrity

Quote from: tyz on June 21, 2015, 06:41:33 AM

Well, much fiat money has been withdrawn from emerging market countries because of the economical uncertainties around the world. This money is looking for new investment opportunities and some of it has probably flowed into crypto currencies. For a price increase of the last week, only a few millions of dollars are needed because the liquidy for most coins is bad. So you don't need much money to increase price of most coins by at least 50% percent.

I'd say somewhere between 20 and 40 million or so. Half in BTC and the other half proportionately invested in its "alt-cousins"?

Imagine how things could get if we really have started to see some serious fiat investing!

tyz

legendary

Activity: 3360

Merit: 1533

Well, much fiat money has been withdrawn from emerging market countries because of the economical uncertainties around the world. This money is looking for new investment opportunities and some of it has probably flowed into crypto currencies. For a price increase of the last week, only a few millions of dollars are needed because the liquidy for most coins is bad. So you don't need much money to increase price of most coins by at least 50% percent.

HR

legendary

Activity: 1176

Merit: 1011

Transparency & Integrity

Did an across the board institutional buy program hit the cryptocurrencies last week?

We certainly saw across the board buying in the first few days of the week of June 15 and there’s absolutely no arguing the point that this involved many millions of dollars worth of buy orders.

Was it institutional, or just a(some) major investor(s)? Or, perhaps just a general change in marketplace psychology that just happened to happen all together at the same time?

http://cointelegraph.com/news/114562/bitcoin-price-analysis-the-50-day-ema-is-a-brick-wall
http://cointelegraph.com/news/114583/price-alert-bitcoin-price-shoots-past-50-100-day-emas-a-trend-change

I’m inclined to think that that these charts are showing signs of “big players” and “smart money” coming into the cryptocurrencies. In my opinion, that was just too much general buying pressure for it to be anything else.

http://www.trading-analytics.info/2015/06/bitcoins-greece-bad-well-cryptocurrency.html

https://bullbearanalytics.com/2015/06/18/bitcoin-alive-undead/

IMPORTANT NOTE: Coin Market Cap’s charts are not equally percentage adjusted, meaning that a 1% move on one chart ultimately looks exactly like a 100% move on another (they might be better viewed as “stochastic” moves rather than price, but they all do clearly show major buying interest across the board early last week).

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