Almost all BTC is owned by very few people; 4% of addresses own 97% of all BTC in existence. And within those 4% there's even further deep concentration.
The vast majority of BTC players (approx 96%) own fuck all.
Think about this for a second: the vast majority of players are holding around 3% of all the available BTC.
What do you think those tiny few with all the BTC are thinking? What would you do with your 7,564 BTC bought in several tranches a while back (including the ones you snagged under $10 back in early 2013)? Given the gignormous run up would you not be tempted sell a few coins into the hordes of buyers willing to pay x10 or x100 or x400 what you paid? Would you not think "man I should diversify!" ... maybe turn a few hundred BTC into gold... or a few thousand into some nice rental properties? ... and do it while still possible to avoid capital gains taxes...
I stand by my post from nearly a month ago. The peak for this run-up has come and gone.
We are on the downward slide now. A slide that will turn into an avalanche. Just need a solid media narrative to set it off. North Korea, Fed policy flip-flop, Russian bank run.. take your pick.
By Xmas BTC will be down 50% from here. By mid-2018 more than half of today's cryptos will be a distant memory. And many former crypto hundred-thousand-aires will have vanished.
Check out my apps here:
Android - Silver Coin Valuer PRO and Gold Coin Valuer PRO
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