The Steemit Ecosystem: Cryptos and NASDAQ Join Hands in Synchronised Profit Taking Tango by rycharde

cryptocurrency · @rycharde · Jan 17 '18

$46.00

The Steemit Ecosystem: Cryptos and NASDAQ Join Hands in Synchronised Profit Taking Tango

On Monday, the US celebrated Martin Luther King Day. On Tuesday, the markets crashed.

Take a look at the graph below. The red line shows the Bitcoin price in USD versus the NASDAQ 100 Index.

<center>https://i.imgur.com/OVBUF9B.jpg</center>

As soon as the futures market opened, NASDAQ was pumped up to an all-time high, triggering a spate of automated profit-taking. Notice that Bitcoin's flash-crash took place at exactly the same time. Sure BTCUSD is traded globally 24/7 and doesn't care about the arcane opening hours of physical markets, however, Bitcoin's already falling price was set in freefall.

This has happened before, prompting me to consider that the players in the NASDAQ market are the same people trading cryptocurrencies. The last time this happened, the official spiel was about fund managers cycling out of techs - this is media spin that pump-and-dump is a legitimate strategy. Expect nothing else from the crypto-world.

Compared to the highs of early January, the whole crypto market cap has dropped some $350bn; from Tuesday, the market's peak loss was $200bn, recovering slightly now. That is a very tidy profit for someone!

But nobody wants to kill the goose that lays the golden eggs... so time to fatten it again.

The news? Oh, yes, the news: it's all mathematics. Follow the money, not the FUD-lines.


image source: [Trading View](https://www.tradingview.com/x/ndsMFWkw/)


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<center>- - ![](https://i.imgur.com/9Mvn9fs.jpg) - - - ![](https://i.imgur.com/MtKq9KV.jpg) - -
Please Comment, Resteem and Upvote. Thanks!

@rycharde manages the [AAKOM project](https://steemit.com/@aakom) and the [MAP forum](https://steemit.com/@accelerator).</center>

👍 sneaky-ninja, upmyvote, boomerang, buildawhale, inquiringtimes, ausbitbank, accelerator, rycharde, personz, lindahas, pathforger, crimsonclad, kerlund74, nettybot, msp-lovebot, thinkit, mehdibca, bombaybellyrina, discordiant, aakom, msp3k, st3llar, steemcreate, r2steem2, witnessstats, matrixonsteem, steemliberator, thetasigma, coonass, brotato, cajun, pizaz, steemdevs, squirrelnuts, kailukat, azwargolden, triplethreat, conflaxus, pi-pi, thashadowbrokers, tittilatey, listentosteem, gravy, test.with.dots, jeezy, dootdoot

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@ahlawat · Jan 17 '18

good thinking! bitcoin market crashed

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@boomerang · Jan 17 '18

This post has received a 5.82 % upvote from @boomerang thanks to: @rycharde

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@sneaky-ninja · Jan 20 '18

re-rycharde-the-steemit-ecosystem-cryptos-and-nasdaq-join-hands-in-synchronised-profit-taking-tango-20180120t105354620z

Sneaky Ninja Attack! You have been defended with a 14.50% vote... I was summoned by @rycharde! I have done their bidding and now I will vanish...Whoosh

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