They Want You To Dump Your Coins, Don´t Fall For It!
Be aware of all the FUD! Don´t believe those who try to tell you Bitcoin or cryptocurrency in general are dead, because it´s simply not true at all. Actually the exact opposite seems to be the case!
A Goldman Sachs financed startup buys Poloniex, the G20 leaders declare that crypto don´t pose any risk to the financial system and are therefore not opening the fire against them. Definitely quite good news if you ask me 😉
But why does the market go down then?
Well I´ve got a theory, one that´s getting discussed or expected to be true by many others out there as well, it´s Institutional money. Institutional money that keeps the prices down so they can squeeze as many coins as possible out of the weak hands.
Due to the comparably low liquidity of the crypto market it´s relatively easy to make the price go up or down in case you got the necessary funds available to play a bit. But quite a lot of the retail investors holding Bitcoin or alts don´t have the freedom to play with their money too much and rather accept some losses than to loose it all.
The longer the market goes down the more people are likely to believe the FUD, panic and sodl their coins right into the hands of the big players, which will later on sell them back to us at way higher prices.
So please don´t fall for it, hodl your coins and stay strong throughout the crisis. You might doubt me but don´t forget that the well known gurus just like Warren Buffet always say, that you gotta buy whenever there´s blood in the streets!
I stay strong! I HODL!
What about you?
A Crypto Startup Revolutionizing Steem! |
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Just large margin traders on exchanges like Bitfinex forcing the price past expected support/resistance to cause forced-liquidations of other margin traders. I would go as far as saying that Bifinex management are trading on their own platform as they can see where all the stop-loss orders are located.
I only trust fiat exchanges lately, which are officially registered and complying with the law. They won't risk their business for wash trading or other stuff
you are completely right. the more time the market is down the people are GIVING UP. and frankly the market will take a little time to get stable, just hold on to your horses and things will turn out good
I agree with your opinion, when you have been in the market for some time you recognize the signs when something is not right and this FUD is exactly that sign.
It's the usual spiral taking markets down. People get scared of loosing and drop out one after the other. But all FUD stops eventually making room for FOMO
My advice is to not listen to what the likes of goldman but watch what they do. For a long time they have been talking down about crypto while their actions (poloniex transaction, establishing trading desk) tell a different story.
Don't listen, watch! It's always the actions of people that actually show where they are going.
Yessir!
Panic Sell - always the right move ;-)
Definitely, all buyers and especially the big guys will love people selling at the lows xD
"you gotta buy whenever there´s blood in the streets!" That's a great quote @steembusiness.
I'm hodling and hoping it goes down a bit more so I can buy some more! 😊
I see we have similar plans on accumulating even more coins :)
All a bit static yesterdat though @steembusiness. I'm wondering if we might have a better chance at the weekend. I've only recently started this so don't have any history to call on but it was definitely lower last weekend so I@m hoping that might be a bit of a trend.
Based on the evidence of one weekend! 😂
Dumping coins is the best opportunity whales are waiting. We need to think more than twice before we dump a coin shouldn't we?
Strong hand is needed now.
a very strong one xD
Well said! Some very good advice there. Institutional money is coming, soon. they just wanted to get in cheap!
Hodling time! You didnt loose money unless you sold in dark days! :)
Well that's really just a way to sweeten the bitter pill for yourself. Every hodler lost a lot of profits through that bear market.