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Learning & News => News related to Crypto => Topic started by: newshunter on March 20, 2021, 07:03:46 AM

Title: Bank of America claims it costs just $93 million to move Bitcoin’s price by 1%
Post by: newshunter on March 20, 2021, 07:03:46 AM

Bank of America claims it costs just $93 million to move Bitcoin’s price by 1%

Bank of America strategists have estimated that it takes in-flows of just $93 million to move Bitcoin’s price by one percent.

Source: Bank of America claims it costs just $93 million to move Bitcoin’s price by 1% (https://cointelegraph.com/news/bank-of-america-claims-it-costs-just-93-million-to-move-bitcoin-s-price-by-1)

Would appreciate your opinion about this

Title: Re: Bank of America claims it costs just $93 million to move Bitcoin’s price by 1%
Post by: TomPluz on March 21, 2021, 05:18:25 AM

Claim. Claims. And more claims. These people are actually just looking at data, but they are not sure if what they are saying can also be true in practice because if they are applying what they are saying then they will not issue such a kind of statement as that maybe against the law in the first place...manipulation. Bank of America should learn to shut up their mouthpieces otherwise they are bound to admit their mistake of not joining the Bitcoin party later on just like some big banks who are now into cryptocurrency.

Title: Re: Bank of America claims it costs just $93 million to move Bitcoin’s price by 1%
Post by: Richard_1 on March 22, 2021, 05:39:21 PM

It would seem that only $ 93 million enough for an increase of 1%, but by 10% it is already $ 930 million, which is already a significant amount. But Bitcoin is growing at a much higher percentage. Various news plays an important role here, which give impetus to growth.