What: Prediction that they will use their large bonuses to speculate in cryptocurrency.
When: Bonuses for many hit January 15th.
Why: Young people making a lot of money and ready to speculate.
This is a fun thought for the day! With the stock market steadily on a historic rise making everyone rich, naturally we are all bored. We are just humans after all seeking instant gratification and entertainment. This is where cryptocurrency comes in, hello volatility.
The cryptocurrency space is a fun space to track regardless of what your take on it is. My thought is that some young “wall streeters” will speculate. What will this mean for Bitcoin prices…absolutely nothing.
Let’s put this into perspective with the top 5 market caps of cryptocurrency currently in circulation below.
With Bitcoin sitting at a 259 billion market cap I think that the bonuses on wall street will hardly put a dent in the price movement.
There are tons of people speculating all at once and that is causing the intense volatility. If any of you are looking for a very interesting read check out American Kingpin: Nick Bilton. This has really opened my mind in understanding the original reason cryptocurrency stayed alive, drugs and black markets.
Yep, black market is my gut call on what got this madness going. Now I think main street has gotten a taste of greed and wall street is looking to profit. To each their own in the cryptocurrency mania!
My best guess is that crypto’s will be the first to fold in the sign of any market pressure in the future, so tread lightly young “wall streeters”.
What Are Your Thoughts?
- You buying bitcoin with your bonus, don’t be shy?
- How is everyone doing that is in the crypto space?
- If you were a 24-year-old and received a 100K bonus check would you roll the dice?