Zombie Crypto Coins Beat Bitcoin During This Year's Resurgence
Comment of the Day

February 12 2020

Commentary by Eoin Treacy

Zombie Crypto Coins Beat Bitcoin During This Year's Resurgence

This article by Olga Kharif for Bloomberg may be of interest to subscribers. Here is a section:

“There appears to have been a large mass of early investors (including many VC firms) who have a vested interest in seeing some of these tokens reach a certain price point so they can realize their gains or break even,” said Sid Shekhar, co-founder of London-based market tracker TokenAnalyst. “As such, with the overall market rally, there are definitely select institutional players who are effectively spurring price action.”

Eoin Treacy's view

Bitcoin has tended to rally ahead of halvenings (the occasions when the reward for minting a new block halves). Even though there are any number of arguments about the sustainability of bitcoin’s first mover status it remains the biggest crypto market and all others tend to move in a high beta nature relative to it.

Click HERE to subscribe to Fuller Treacy Money Back to top