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Wouldn't we expect to see BTC hold or even gain when everyone is trying to exit their "crypto" positions? After all, BTC is the reserve currency of all these c
by xorcist 4y ago
Wouldn't we expect to see BTC hold or even gain when everyone is trying to exit their "crypto" positions?
After all, BTC is the reserve currency of all these crypto scams, as you call them.
- rglover 4y agoNo, because the USD market price is psychological, just like the stock market [1]. And no, BTC is not the reserve currency; Ethereum is. Nearly all of these "crypto tokens" are just ERC-20 contracts that run as contracts on the Ethereum network. They're not even cryptocurrencies, just contracts with sets of rules that mimic the properties of a currency. [1] https://www.investopedia.com/terms/m/mr-market.asp https://www.investopedia.com/terms/m/mr-market.asp