You are viewing a single comment's thread from:
RE: Bitcoin making new all time highs, but can the reasons behind it also be good for steem and altcoins?
You would certainly think this great bitcoin run would pull others with it, but the correlation isn't there yet... hopefully it will come soon tho!
Yes, right now it is pulling money out of all the other coins. Basically money is mostly just moving from one crypto to the main crypto. However, as these derivatives come online I would imagine new money will be coming in, which would mean they both can go up together! :)
I'm not so sure about that. Derivatives have been used by the banking cartel to manipulate the price of precious metals, so I don't see how having large chunks of bitcoin's daily volume being conducted on trading venues, where the underlying commodity (actual bitcoin) is not being bought and sold, will be beneficial to anyone but fat-cat Wall St. banksters.
Just watch. :)