/biz/ - Business & Finance

another recurring pattern i see is this:
>btc dips 1%
>influencer tosses BTC into altcoin where the fiat pairing is steady enough that the ratio should pop up slightly
>whales start shilling on places like this, twitter, reddit
>creates a mania feedback loop where people across multiple exchanges all over the world buy to keep up with the highest price across any of them. who needs arbitrage bots?
>bagholders are born
not every price movement is someone acting in that pairing. people frequently disregard the fiat pairings and how volatile bitcoin itself is.