For a while now I have seen a behavior that didn't make much sense to me in crypto space and then I realized there must be a logical explanation and so here are few of them.
We are in a dotcom like bubble and people are paying s***loads of money for everything. Double and triple digits gains everywhere.
I noticed that these sharp rises do not occur at the same time, rather one by one. Could it be somebody is pumping these coins? Of course, that would be normal. Well could it be somebody is after more than just some nice profits here and now?
I was thinking what would I do if I had a really deep pocket, lets say Wall Street deep, and just realized that Bitcoin will rule one day. It is older, much better known and much safer than the other coins. It will become a store of wealth, real wealth. How would I play it?
You cannot just start buying it, that would drive the price too high and there is a better way of doing that. I would pump Bitcoin Cash and later the other coins one by one. This would pay off. Once the rally is going on you can start selling slowly and buy some more if the rally is losing speed too soon.
You can do this, keep part of the profits and use the rest to buy Bitcoin that people are selling for crapcoins that are rising now to fall the next day. By systematically pumping one altcoin by another you will decrease Bitcoin's dominance and be able to hoard a lots of it without having to pay too much.
Do you thing I am wrong? Please let me know why you think so.