A buddy of mine told me about all this stuff about 2 years ago, saying this will be the way of banking, no middle man for transactions, and back then you know crypto had maybe 1%-10% attention of the world being that it was so new, plus having more and more skeptics and just a bunch of pump etc etc.. as people are saying now, then all of sudden come August-December it seemed as if these whales jumped on board to drive up the price, and along with the new technology in this sort of sector. Blockchain etc etc. You probably know what a float is in shares. If not they are the shares available for common traders like us to buy. The cryptos have the same thing. Except it’s a limit of coins available to the public to buy on a market. Take ripple for example it will move slow because of how many are available to buy, somewhere in the billions I think. Bitcoin and litecoin will move a little faster on up trends and down trends because there is a smaller % of coins available. https://coinmarketcap.com/currencies/litecoin/ 55milion in circulation and 84 million available. Bitcoins is 21 millions available. And ripple has 100 billion. Witch is why it’s going to take volume to make these move. And right now most of them have no volume, under 500,000 as of now, so most people are seeing bot trades going on thinking it’s real people. They get scared and sell.
This is just what I seen for my past 2 years of watching it. And seeing how may “people” where dead wrong. The fact that lite pay didn’t fall through should be an amazing feat. I’m going to give an example. Let’s say their is 500,000 in volume, multiplied by 167$ is about 68 million dollars. This is just hypothetical, 100 people dividend by 68 million. Is 680,000$ per person invested. The person count could go to 1000 people are trading lite coin and that only accumulates to 68,000$ a person per day or per hr. Point is, is volume make the price soar or fall. Low volume usually make it fall.
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