For the last 48 hours it's obvious how both ETH and LTC are slowly being devalued against BTC
Are you seriously shilling for Eth when EVERY SINGLE THING about Eth has always been a scam from day one? It was issued in a fraudulent manner (IPO), then banks like Goldman Sachs buy up the whole premine, send the illiquid asset premine to poloniex and use it as 3x margin collateral to pump and dump it higher. It's a good window into how big of a scam everything in this sector is, though.
Think about it. If you can issue an IPO for say $100 million. It doesn't matter if there's zero buyers for any of the tokens and they're all an illiquid asset. As long as there's some scam exchange that exists that allows you to use those tokens as 3x margin collateral, your IPO is now worth $300 million with no work required at all. You have created $200 million out of thin air with no cost of production and no work required. It's all just some obfuscated form of accounting fraud.
Now anyone that sees this market rising and either attempts to momentum trade or short it is your victim. You can exit on them either way. All you need is ANYONE to enter the market at all whether long or short. If they short, you squeeze them. If they long, you dump on them. This is another reason all paper assets are scams compared to things like silver and gold (and yes, bitcoin and eth are paper assets just like airline miles, bonds, and USD toilet paper). It also means the valuations for all these shitcoins are based on leverage even though you can't see it, so when this sector finally does implode, it will be biblical.
