Get Out – Crypto Whale Theory, $23,000,000,000,000 in Debt and Bitcoin’s Volume Zone: eToro Market Update
OUR STORY DISCOVER CRYPTOCURRENCIES NEWS AND UPDATES
Get Out – Crypto Whale Theory, $23,000,000,000,000 and Bitcoin’s Volume Zone: eToro Market Update
Here’s a life pro tip for you. It just popped up on my Reddit front page yesterday and I felt like sharing….
This tip was fresh in my mind when I read this article on my morning commute…
Apparently the “academics” originally published this paper the first time last year but it was promptly debunked. It seems that now the authors have added a few details, finally received a peer review, and are ready to release the updated paper shortly.
Let me just say for the record, there is no methodology on the planet that will convince me that this narrative is accurate. The simple matter is that I personally witnessed the 2017 rally, as did many of you, and it wasn’t anything that could possibly have been caused by any single whale.
In those few months, millions of verified retail accounts were opened here at eToro in order to trade crypto and it was the same throughout all exchanges, many of which had to stop accepting new clients because they simply couldn’t keep up. Servers crashed under the weight of the sheer traffic and the attention in the media was overwhelming.
It was a matter of unabashed enthusiasm for tens of millions of people around the world. I’d not seen such mass excitement surrounding an emerging industry since the birth of the internet. Now you want to tell me that the entire rally was the result of a single whale?!
Get out of here with that!
eToro, Senior Market Analyst
- Feels like the first time
- Where’d the Volumes go?!