13 upvotes, 1 direct replies (showing 1)
View submission: Unrealistic volatility expectations
People are just cashing out ETH/alts via BTC.
That doesn't make sense as a reason for the price to drop. If people sold ETH to BTC and then BTC to USD, that would be zero-sum and wouldn't affect the price. If even a small proportion kept the BTC from the ETH sale, then the price would rise.
It's more likely that all cryptocoins are seen as the same asset class (especially to new money that's come in recently) and the sell-off is across the board. This is not surprising since they're all in a bubble currently.
Comment by slbbb at 27/06/2017 at 14:38 UTC
-1 upvotes, 1 direct replies
how it will not affect the price? Sell ETH for BTC -> sell BTC for USD. There is no flow USD to BTC it those actions