This Is What You Should Fear
Even though Bitcoins market cap is over 230 billion dollars in the grand world we live in it simply is a drop in the bucket. This is what fears countries and investors.
This massive Buys and as of right now drops are a single person or company cashing in a ton on profits and very well have the power to manipulate bitcoin.
Your $1,000 here and there means nothing when it is put up against these types of forces and this is how the rich just keep getting richer.
In order to make a change like this one merely needs 1-2 billion dollars. While that sounds like a stupid amount of money there are people and actually quite a few of them that hold this type of power. This is what bitcoin was designed to fight and was suppose to create a decentralized type of system.
You can check out the top 100 richest bitcoin wallets here - https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
It might just open your eyes and make you play it a little more safe when you see massive rallies.
Normally when things are too good to be true they are and this really simply was OVER BOUGHT big time.
If we continue on this downward path that is ok. That actually makes it a key point as to when you should buy.
When your gut hurts from losses and your minds telling you to sell that is actually in most cases the time to buy. When your minds happy and about to blow up from a massive rally that is often the time to instead sell. Take emotions out of trading and you should be better off.
*Of course this is my own opinion and not professional advice.
Ah but the adrenaline rush is...bracing!
Totally agree crypto in the grand scheme of things is nothing. There are individuals with a lot more money than the whole of the crypto world. It is so easy to manipulate with a few bought articles create a bit of fomo all hell breaks loose. Your right what goes up must come down
exactly which is another reason why people need to stop hoping for an ETF and bitcoin being approved. This is exactly what governments fear they would lose total control if they ever did. Its most likely the reason Facebook coin will never launch.
Once again totally agree but try telling that to the sheep sorry people
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Watched a great analysis this morning by Alessio Rastani over on the YouTube. He was looking at this as a “B” wave he went into how established traders have said when something move so parabolic and doesn’t make sense that it is probably a “B” wave.
Then later in the day it exactly kisses the .65 “golden ratio” and fell off a cliff. The good news is this means another great buying opportunity. Below 3.5k or if it’s truncated maybe around 4.5k. Sure seems like that vs a “1” wave. Lets see what happens!!
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I'll have to check out Alessio thank you. It sure makes for some interesting times!
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I found in trading it’s best to find several opinions, his is worth it!
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Just more games being played by the whales. This isn't so much to fear as to understand - volatility is someone's profit opportunity, and there are many in this coin that have massive stakes capable of moving the markets at their whim.
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The last wallet only has 130 million dollars worth of bitcoin in it that's over 10,000 bitcoin lol the spread of bitcoin is low unfortunately.
Good to know. But I do wonder how many wallets per entity? :P
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I think you are right, since I do as you described I am a bad gambler.
It went up way to fast...
Yeah it was something like 70% in a week based on nothing it made no sense. I just noticed Coinbase so called Error page showed up. Whenever there is a wild swing they seem to have an error page lol
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