When bitcoin goes up etn goes down any thoughts?

Screenshot_20190621-220339_Coinbase

Perhaps people are pulling out etn to buy btc?
Perhaps people are selling lost profits.
Perhaps there unrelated although a huge chunk of the etn project by funded by btc.!

Who knows just a guess.

That is most certainly the case. People dumping alts to cash in on the BTC pump is nothing new. For myself however I have thought about it, but at this point in time i would need to see BTC at $30K to flush even for cost averaging when buying back into ETN. For me not worth it, so i am just buying BTC with fiat atm. Other people i guess dont care and will just dump their whole portfolio!

1 Like

its all about where the profits are right now. In the future btc will be nothing as its use case for day to day use is hopeless. ETN and others will over take it later on just be patient.

2 Likes

I was wondering if ETN partner(s) (who likely got a bucket load) are providing a large bulk of exchange volume and they have a minimum required sell price to profit.

Thus if BTC goes up then can sell ETN for lower and still average their required minimum sell price.

Same idea for real blockchain miners - although I would have imagined they would be less inclined to push the price down.

Who knows - just thinking out loud here.

Standard operating proceedure in the crypto market

1 Like

Pretty normal stuff. Not a concern. I had this moment of fear a while back too. I’m over it after doing some more reading. This crypto game is quite the learning curve, but it’s fun!

1 Like

Most important is that market cap is growing,. That could be disturbing,… going down for a long time know,… shorting want get You rich in the long term…

Yep, I’m just glad people are pumping $$$ into crypto overall now. Can only be good for us in the long term.

1 Like
Community Terms | Main Terms & Conditions | Privacy Policy | Support Tickets | Main Website