The problem with some traders today
i am sick and tired of whales dumping all their coins the moment they see a dip in a chart. For god's sake, if those coins were gold i dont think people would sell them for that cheap. all over the trading platforms, people are trading valuable crypto currencies for even less and less . this is bad for the market why?
- it creates a dip in the charts and it changes the price drastically.
- it freaks out hodlers to sell their coin before the market is able to recover.
- it makes a currency very cheap and its hard to make it profitable again.
- people wont be buying the coins if it becomes too cheap.
- the coin could possibly die out before the market could even catch up.
So before you place an order for your coins, think of its value before thinking of making a quick buck on your investments. its better to sell your coins higher than the value it is at at the moment and remember to only buy coins when the time comes. as all traders know that the supply and demand chain is what makes the market move.
Whales don't see the dip, whales are the dip.
These are pretty normal retracements, 32.8%-78.6% range, anything lower than that then it probably deserved it.
Besides, when you're not trading pocket change you cannot buy and sell everything at one given rate... and it's not like there's the time to be there waiting for orders to appear from nowhere at the optimum market price, hence, whales move markets!
And it's hypocritical, because you don't like the dips caused by whales but I bet you love the uptrend caused by whales. Let's be honest here, it's not your pocket money dictating the way the market goes.
Also, with no whales, there's no fish at all, so better get used to it. My advice, focus on being a Remora and cling onto the Sharks. Once you become a Whale you get to dictate your way.
i guess we cant all win in the whale game :(
Sure you can! Find a reputable place to hedge cryptos, etoro is such a place, so you can sell at the same time the price drops and profit on the way down. :)
In this way you have both a buy and sell position at the same time and can use the profits of the sellout to buy more on the dip.
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