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RE: Why didn't I find this sooner!!!
I have been writing here about markets and cryptocurrency for quite some time. I just published my 170th post on Steemit on the topic - just over one year's worth.
Your brief watching has put the finger right on the button. I call it scared money. I have written about it for a while
My sense of it all is there are a lot of people invested in these crypto markets who just do not invest in other markets and they do not understand markets. There also seems to be a lot of scared money
June 2017 http://mymark.mx/TIB101
Crypto space has brought in a breed of early adopters - right from the early days of Bitcoin mining. They earned pennies doing a little mining or faucet work. Then the ICO's came along and they bought a few - because they knew about them. Roll on to now: price races up - price collapses = scared money heads for the exits basically because they have never had money like this AND they do not have an investor mindset.
Completely agree with you. You get kids(not all but some) who start mining years ago because it was something cool a bunch of them can do. Then fast forward to now, with no real information on how markets work, never really invested, they see the sudden drop and freak out and sell.
Like i wrote earlier, I'm far away from being anything you could call an expert in the financial field, but I do have the common sense to do research, read articles from people that make a living from it, and educate myself doing.