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To give a real life example, the other day I bought about $2,000 worth of a crypto asset, which caused a ~20% spike in price and raised the market cap by ~$5M.
by Alex3917 9y ago
To give a real life example, the other day I bought about $2,000 worth of a crypto asset, which caused a ~20% spike in price and raised the market cap by ~$5M.
I'd say what the asset is, but I can't because if literally only one other person reading this decided to buy some then I effectively wouldn't have the option to buy more of it.
- bognition 9y agoWhy are you buying something that can't support multiple simultaneous buyers?
- sillysaurus3 9y agoThat's the best time to speculate.
- Alex3917 9y agoI only buy things where I won't be unhappy about the price I bought them even if crypto prices decline by 80%. Mostly things with market caps under $20M. The lack of liquidity doesn't bother me. Either the technologies will get real world use and the tokens will get listed on major exchanges, or else they'll go out of business, just like any other tech startup.
- bognition 9y agoHow can I find out more about these opportunities?
- smokeyj 9y agoSo the market cap is you. This doesn’t apply to bitcoin.
- charlesdm 9y agoMaybe. But if an institution were to accumulate $1bn of Bitcoin through exchanges, I'm pretty sure that would drive up the market cap a lot more than $1bn.
- mitchellberry 9y agoWhat's the difference between that and the same company buying a pennystock? This is how markets work.
- bdamm 9y agoDepending on the secrecy of an asset to retain its value and your ability to buy it sounds like a very fragile position to be in.
- Alex3917 9y agoIf the price goes up it should be because the technology has become part of the backbone of the Internet, not because people are promoting it on social media when there is zero volume.
- deleted 9y ago[deleted]