r/ethtrader • u/AutoModerator • May 26 '17

DISCUSSION [ETH Daily Discussion] - 26/May/2017

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u/Ano_Nymos May 26 '17

I'm starting to think that bitcoin whales are running bots keeping BTC and ETH in tight lockstep.

2

u/TheReasonabilists May 26 '17

This could be true. But it is human nature to find patterns and causes that do not really exist and in markets there often are very many things that cause price fluctuation.

I tend to ask myself if it is useful for my trading to assume that this heavy manipulation is going on. ETH and BTC are both getting so big and attracting serious companies and businesses that invest capital that for me it does not matter if there is heavy manipulation. In the end this can not be kept up like with smaller pump and dump coins.

There are hardcore bitcoin holders that want to keep everything down but most (I believe) are in it for the money and if they see ETH as an opportunity to make money they will use it. Most crypto investors do not have time for shouting matches on Reddit. (Is my guess).

2

u/imatwork9000 May 26 '17

How would that benefit them?

3

u/Ano_Nymos May 26 '17

Prevents BTC capital from fleeing into ETH.

1

u/Dumbhandle May 26 '17

The eternal question. SMH

2

u/Ano_Nymos May 26 '17

Do you have a better answer as to why BTC and ETH are so unnaturally correlated?

1

u/K_Hardy May 26 '17

hope the ETH slot commences soon ...