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Well, I know a lot of people who see the exchange price and think it's too expansive and buy "cheaper" coins. No one is looking at market cap.
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you mean market crap... https://coinmarketcrap.co/
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Haha... yes indeed.
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I really don't think it makes a difference. There is probably a little bit of retail money that doesn't enter bitcoin due to unit bias.
But is this money material? Would these people actually hodl or would they sell as soon as it dumps anyway? I'm skeptical