No Wall Street, I will not sell my BTC.

Recently there have been a number of rumors (news articles that google presents to me as important) that Wall Street is predicting a BTC drop to 10KUSD levels, this is coupled with others saying that buying volumes are down, that the miners will sink the price, that the US inflation rate announcement will knock the price down, that Mt Gold (I don't even know who they are) will flood the market with BTCs and the price will drop among many other rumors that scream at you: Sell your BTCs!

Certainly publicity plays an important role in all buying/selling of products, it is something that every trader should know. The one who wants to sell expensive offers a publicity of his product presenting it as the best and the one who wants to buy cheap does the opposite. But BTC is not something that is bought in an exclusive store, so in this case advertising is about spreading positive or negative rumors trying to manipulate the market in favor of the one who is investing in advertising.

Pixabay

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What makes the price of BTC fall is nothing other than selling pressure, it is something as basic as the rule of supply and demand, out of that framework contexts are created that lead people to want to sell in which a reasonable reason would be to obtain profits or on the contrary to want to buy for a reasonable reason such as low prices, that is another basic and simple logic.

To provoke these basic buying/selling conditions there are those who try to manipulate people's minds by spreading rumors through news to create fear in people making them able to accept to sell at lower prices than the ones they bought without taking into account that they are doing it at a loss.

I always think with this logic: Suppose two people bought 1 BTC each at the end of 2017 for a value of 19000USDT, by March 2020 the price of BTC saw the worst case scenario reaching very close to 3000USD so one of the buyers scared because his asset loses the total value he decides to sell, however the other decides to keep his BTC, the first subject sells because when he looks at his wallet he sees 3000USD but the other keeps them because he looks at 1BTC, that is, he does not see losses because his BTC it is still there intact.

For this case, the guy who kept his BTC was able to sell it later for $69,000 making a profit of $40,000, but the guy who sold it lost $16,000. The moral here is that only those who sell at low prices lose.

In the current scenario, everyone who wanted to sell their BTCs for a big profit I guess has already done it since the current price is 3 times lower than the highest and was high for long enough. Most of those holding BTC are now at a loss and I think that is one of the reasons the sell-off has stopped. But it seems that some want to buy cheaper at the current price and that is why the rain of negative rumors for BTC is coming.

BTC/USD all time chart. The value is always higher. Source: Coinmarketcap

But many buy the rumors and end up selling, so it is not surprising that there are falls when the rumors appear, however, have you wondered why in the big falls the number of purchases increases? o If they are so sure that there will be a big drop, why don't they sell their kidneys and soul to short everything they have and amass a great fortune?

One of the rumors spread was that yesterday, after the inflation rate was announced in the US, the price would fall uncontrollably. In the following graph we can see an example of how there were sales by those who believed the rumor and what it really happened.

The graph was taken from Coinmarketcap representing the movements of BTC between yesterday and today. It was edited by me to highlight the desired information.

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