CoinGecko: 360° Market Overview of Coins & Cryptocurrencies by markkujantunen

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· @markkujantunen · (edited)
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CoinGecko: 360° Market Overview of Coins & Cryptocurrencies
<center><img src='https://static.coingecko.com/s/thumbnail-007177f3eca19695592f0b8b0eabbdae282b54154e1be912285c9034ea6cbaf2.png' alt='Dhared From Dlike' /></center>  

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 Whoa! A massive green wall on CoinGecko! Bitcoin is $7,250 right now. Most alts are green, too. STEEM is $0.343, up over 10% from its bottom at 29 something.

Analysts seem to be all over the place regarding the meaning of this. Some say it's a short squeeze on major exchanges. What that means is that a large number of short positions are closing after a sharp move upwards. The closures are forcing the owners of said positions to buy BTC at the market price to fulfill their promise to return the asset they borrowed sold when their short position was opened. A short squeeze can act as rocket fuel to an asset.

Others say this was triggered by Fidelity being about offer BTC trading to its institutional clients in the next few weeks.

Any comments?

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CoinGecko is a coin market ranking chart app that ranks digital currencies by developer activity, community, and liquidity. Check out the latest ranking for major cryptocurrencies such as Bitcoin, Litecoin, Peercoin, and more.  

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 <center><br><a href='https://www.coingecko.com/en'>Source of shared Link</a><hr><br><a href='https://dlike.io/'><img src='https://dlike.io/images/dlike-logo.jpg'></a></center>
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