My understanding of the way trading works on Robinhood is that you don't actually get a wallet for the coins you buy. So essentially, you're buying a security pegged to the value of the coin, not the coin itself.
Buying the coin is what drives demand for the coin and demand is what drives the price of the coin. It's like buying a futures contract for Bitcoin. And remember how half the futures market was shorting Bitcoin?
I've also noticed that, according to Coinmarketcap, Bitcoin dominance is down from more than 45% a few weeks ago, to 37% now. That means people are diversifying their portfolios, and in turn, that would mean that the price of Bitcoin is not driving every other up in price. Relative demand for Bitcoin is falling with respect to other coins.
So I'm skeptical of the impact Robinhood will have on the price of cryptocurrency, Bitcoin, in particular. The best thing that could happen to this market is reduced Bitcoin dominance. That ensures diversity of investments and spreads the risk among a greater number of coins.
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Honestly one of the best platforms for trading out there....best part about it: it's free. No commissions charged on trades.
recent time i becoming in feel great to show bitcoin
great raising in a moments of recent time .
no dout cryto will controll the world
thanks
wow
great shared dear sir
bitcoin seems to gold day by day.its really worthy
great for crypto user..just a chill time
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really great informative post
bitcoin is becoming great things by day to day
really great analysis
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My understanding of the way trading works on Robinhood is that you don't actually get a wallet for the coins you buy. So essentially, you're buying a security pegged to the value of the coin, not the coin itself.
Buying the coin is what drives demand for the coin and demand is what drives the price of the coin. It's like buying a futures contract for Bitcoin. And remember how half the futures market was shorting Bitcoin?
I've also noticed that, according to Coinmarketcap, Bitcoin dominance is down from more than 45% a few weeks ago, to 37% now. That means people are diversifying their portfolios, and in turn, that would mean that the price of Bitcoin is not driving every other up in price. Relative demand for Bitcoin is falling with respect to other coins.
So I'm skeptical of the impact Robinhood will have on the price of cryptocurrency, Bitcoin, in particular. The best thing that could happen to this market is reduced Bitcoin dominance. That ensures diversity of investments and spreads the risk among a greater number of coins.
I look forward to checking this out.
Congratulations, your post received 9.71% up vote form @spydo courtesy of @aftabkhan10! I hope, my gratitude will help you getting more visibility.
You can also earn by making delegation. Click here to delegate to @spydo and earn 95% daily reward payout! Follow this link to know more about delegation benefits.