Hi everyone, thank you for visiting my blog.
Why Is The Market So Low? That’s the most predominant question nowadays.
In The United States Of America, every single crypto person has to register to a site to buy Crypto. When they do so, everyone has to enter personal information that the IRS (Internal Revenue “Service”) can relate to in order to claim their share (aka, TAX, aka EXTORTION)
The tax season ends in the middle of April, whatever you owe the IRS has to be disclosed at that time so you can expedite a check as soon as possible and paid your due amount... unless you ask for an extension (which is completely legal) and pay it in September.
I know from a very good source that lots of millionaires that entered crypto this year did just that, they asked for an extension to pay their tax the upcoming month, they are exiting crypto for now and many of them are not planning to jump back in until right before the ETF hearing happens.
There is nothing wrong with doing that except that there are many other people selling because of FUD.
These are facts.
Theory #1
Many heavy crypto investors that either know, or are paying someone that knows how to analyze Cryptocurrency, have come to the realization that BITCOIN, the most widely adopted digital currency in the world, is in serious jeopardy and that the BTC devs just don’t have the answer on how to solve the paradigm of scalability that this once wonderful coin has encountered, so they are taking their profits or writing out their loses , at the same time that they scrutinize all the other crypto, until they find the next big coin that will lead the way to Crypto mass adoption.
Theory #2
There is no secret about the big money that entered crypto back in December of 2017.
Four months ago, I was trying to help one of my friends register to Bittrex Exchange so I could teach him how to trade. My jaw almost dropped to the floor when the registration page was asking us for our corporate ID number and then pick what level of exchange volume were we looking to participate in.
It was I guess an exercise or trial that Bittrex was putting in practice for the future, but it was surely not a pleasant surprise at all.
For lots of us, the current market situation is just a DeJaVu of what happened during the DotCom Bubble
Thirty years ago; in a faster phase, institutional money poured in and out of the DotCom market, and in a blink of an eye, the big corporations, institutional investors and even government agencies first set and decorated the table of prosperity and then took the tablecloth away leaving it set but naked.
Lots of people that thought they were taking part in the new economy got scared when they saw the naked table and started selling their shares, or small companies in some cases, for very cheap. Soon, the Wall Street people took the companies that they knew would make it to the big game and just like that, they shut the door at the nose of the common people, granting access to the big game only to the Certified Institutional Investors.
I can’t help to ask myself; Is this what Bittrex was getting ready for, four months ago?
Now Coinbase has open a platform Coinbase Pro for The Institutional Investors, and Bakkt will open as a worldwide platform to allow the world institutional investors to start trading with crypto and digital assets as well.
It seems to me that the table has been already set and the big money people are about to pull off the tablecloth.
