Hi Steemit friends,
now we amidst a crypto crysis?.. at least it seems for many people today. The announcement that after BTCChina now ViaBTC is closing on Sep 30th and stop registration of new customers already on Sep 25th creates temporary FUD amongst crypto users. But about what exchanges we are talking?
Did you trade on these exchanges and how many chinese did?
Have you even heard about these exchanges before the spread of FUD?
Is this rock-bottom or what's the real impact of the news? Let's look at some stats:
source: coinmarketcap.com
The market share in terms of daily volume of the two exchanges is tiny if not negligible at the moment after the FUD.
We speak here of really low volumes today in comparison to the TOP 5 which make alone 54% of the daily volume of the TOP 23.
But look at the Bitcoin trading volume the last 6 months and all the spread of FUD:
That's a different picture:
BTCC has a share of 7.91% for the last 6 months with Bitcoin trading, ViaBTC is not listed on this site.. why?
So what is all the buzz about to see double digit declines in market cap i ask myself or ask you? Should we totally freak out and sell off?!
One thing is for sure, J. P. Morgan has some share with statements by the CEO like that..
"Bitcoin is for murderers, drug dealers, and North Korea."
but look at the pure numbers, they tell you a lot what's real and what's FUD! Is this a reasonable reaction of the market.. mmhh.. i have strong doubts. I put my sunglasses on 😎 and looking forward to a bright future for cryptocurrencies.
What do you think? I'm right or wrong?
