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The crypto boom of 2017 was fueled by the launch of new trading platforms making it easy to trade for small investors. Most of those investors graduated to stoc
by DevKoala 6y ago
The crypto boom of 2017 was fueled by the launch of new trading platforms making it easy to trade for small investors. Most of those investors graduated to stocks and options, and never looked back. There has not been anything to increase the valuation of Bitcoin as an asset since then. I say this as someone holding >$10k of crypto assets in case I am wrong.
- naveen99 6y agowe still don't have options on bitcoin on major equities trading platforms.
- save_ferris 6y agoIt was also fueled by market manipulation by one major bitcoin holder using Bitfinex[0] 0: https://www.cnbc.com/2019/11/04/study-single-anonymous-market-manipulator-pushed-bitcoin-to-20000.html https://www.cnbc.com/2019/11/04/study-single-anonymous-marke...
- ColanR 6y agoInteresting, and I think I've heard that before, but your source doesn't seem that great.
- skohan 6y agoHere's a report from the WSJ if you don't like CNBC: https://www.wsj.com/articles/large-bitcoin-player-manipulated-price-sharply-higher-study-says-11572863400 https://www.wsj.com/articles/large-bitcoin-player-manipulate...
- intotheabyss 6y agoI think you have this partially wrong. The crypto boom of 2017 was mostly fueled by people buying ETH in order to do ICOs.
- DevKoala 6y agoI completely forgot about that. You are right. That must have been another factor with perhaps a bigger effect.