It doesn't take $1 of Bitcoin to crash the market by $1… There's a multiplier effect when done strategically and automatic sell orders and trading bots will do a lot of the heavy lifting for you.
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It doesn't take $1 of Bitcoin to crash the market by $1… There's a multiplier effect when done strategically and automatic sell orders and trading bots will do a lot of the heavy lifting for you.
I agreed but again the crypto market cap dropped by $40bil in 10 mins a few days ago from that type of chain reaction, and overall it didn't do much damage at all. I agree that if they time a 11bil dump at the same time as a difficulty adjustment in a coordinated effort accross multiple major exchanges it can cause a lot of havoc, but it may not be as long term a drop as the dumpers might expect. There are a HUGE amount of $ waiting on the sidelines to buy into BTC if it did drop down to 2-5k, so I think they may/will have a hard time knocking BTC out of competition. I could be wrong but I tend to think beyond the US banning BTC outright, it prob isn't going anywhere, at least in the short/med term.
Really interesting to read this exchange. Thanks to you both! Have learned so much in the last few days...