How do you know #bitcoin volumes are fake?
$AAPL has a market cap of 2,100 bn (2.1 trn)
$BTC has a market cap of 425 bn (0.4trn)
Yesterday, Apple trading volume on regulated exchanges was $10bn.
Bitcoin, allegedly, traded $66bn (CMC) or $59bn (Gecko).
Does not compute.
$AAPL has a market cap of 2,100 bn (2.1 trn)
$BTC has a market cap of 425 bn (0.4trn)
Yesterday, Apple trading volume on regulated exchanges was $10bn.
Bitcoin, allegedly, traded $66bn (CMC) or $59bn (Gecko).
Does not compute.
Messari has a page where they show „Real“ #bitcoin Volume as $10bn, which is still high given the above but plausible. 
So:
You have reported volume of somewhere between 59 and 66 billion $ as well as a crypto-native source saying only 10bn is real.
That means, about 85% of #bitcoin volume is fake and more than likely the work of #tether and wash trading.
You have reported volume of somewhere between 59 and 66 billion $ as well as a crypto-native source saying only 10bn is real.
That means, about 85% of #bitcoin volume is fake and more than likely the work of #tether and wash trading.
If you‘ve followed me you know I am Bullish $BTC (not advice), but if you are in #crypto you have to acknowledge the time bomb that is #tether and be aware of its risks. Closing your eyes and pretending its not there isn‘t going to be good for your financial health.
FWIW I do think that it is impossible to overlook that #bitcoin‘s investor base is institutionalizing. So the above does not mean the current trend is not driven by real demand, but it does mean that manipulation is still rampant in #crypto. Just something to be aware of.
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