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I had an epiphany with OTC purchases
We keep seen every day corps and states buy into large amounts of Bitcoin and the price barely moves. While some people call it paper Bitcoin . I have been trying to analyze OTC (Over the counter) purchases over BTC price. It finally hit me. An OCT purchase is like someone sending 1000 bitcoin from one wallet to an other. It will never hit the exchange and does not affect price. Who buys on the exchanges? Retail and small fish, we are the ones who affect the price. I think even ETFs settle In OTC their purchases and sales. For the most part large bag holders and miners sell OTC, they themselves don’t want to flood the exchange with sell orders and crash the price. submitted by /u/raindropl [link] [comments]
We keep seen every day corps and states buy into large amounts of Bitcoin and the price barely moves. While some people call it paper Bitcoin .
I have been trying to analyze OTC (Over the counter) purchases over BTC price.
It finally hit me. An OCT purchase is like someone sending 1000 bitcoin from one wallet to an other. It will never hit the exchange and does not affect price.
Who buys on the exchanges? Retail and small fish, we are the ones who affect the price. I think even ETFs settle In OTC their purchases and sales.
For the most part large bag holders and miners sell OTC, they themselves don’t want to flood the exchange with sell orders and crash the price.
[link] [comments]
