Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Afony on September 20, 2018, 12:57:00 PM
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I never understood why cryptotraders and exchanges support ICO's, my reasoning is this: An ICO gets funded, then they do what, they SELL the BTC they raised for fiat and push the price dive on BTC, thus taking all those BTC out of the trade environment, anyone thinking that an ICO would reinvest into the exchange is naive. This hurts everyone, even the exchanges. You might say "Well the exchanges get fee's on ico" well that is true, but they are losing all future potential fee's on those coins, if they had continued trade on the market.
So in Short - ICO's are killing Bitcoin and CryptoMarkets.
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I think the much bigger numbers of altcoins introduce in the market is also one of the reason why bitcoin is dropping because some of the investors are selling their bitcoin and diverting their investment into a very cheap altcoins most especially during launching of ICO's profit in which the company offers a very low prices.
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Dont' think so personally, Bitcoin has been correcting because it was overbought, nothing to do with ICO investing.
The Altcoin market is no doubt suffering much worse than Bitcoin (86% correction compared to BTC's 70%) due to ICOs however.
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after all people have their own judgment, but bitcoin is stronger than others, I'm sure bitcoin will still lead ..
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I do not agree with this reasoning. Bitcoin is generally intended to be bought and sold, which, by the way, is now very little done. In addition, there is no evidence that after the ICO, bitcoin is immediately sold. In addition, as far as I know, most people invest in ICO ethereum, not bitcoin.