I’m sure a few of you saw the news that around 50% of all BTC trading volume is fake. This is obviously a very shocking statistic, so I decided to dig down into the Forbes report that made the claim and see exactly what it said.
Not surprisingly, the researchers at Forbes had a fair questionable method for assessing trading volume across exchanges. Even so, their taxonomy (classification) of crypto exchange quality based on fake trading volume was more or less spot on.
The author of the article also makes some good points about how questionable trading volume is making it hard for the SEC for approve a spot Bitcoin ETF, among other things. The silver lining is that the fake trading volume on exchanges is falling fast.
The real question is why Forbes came out with this report now, and I give you the answer at the end.
Spoiler: you won’t like it!
⛓️ 🔗 Useful Links 🔗 ⛓️
► Forbes Report Full Text: https://www.forbes.com/sites/javierpa…
► 95% of Crypto Trading Volume Fake, 2019: https://www.forbes.com/sites/cbovaird…
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.