The game of Whales !!!
Recent Bitcoin price crash really made everyone worry about its long term aspect i have seen many people worrying specially for alts along with bitcoin of course that's the matter because everyone is not sure where the bottom is ...
While the panic that was created few days ago was related to the crash in the hash rate of bitcoin and now its almost double after it got stable so was it all pre planned to spread the panic through media platforms and make people sell their precious bitcoins ?
Huh most interestingly i think so because Bakkt didn't do well on the day 1 that news was spreaded so much that it created a sense of pain for those who were seeking for some insane returns.
Well this is not a game of emotions its a game of brain bitcoin and whales will continue to find new ways time to play it their way all the time from now .
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Its really disappointing for bitcoin holders.
Not entirely true, BTC was wildly overvalued and the network was already pricing transactions out of blocks! Lower price for now provides a better performing and affordable chain! Until the lightning network is in place BTC can’t really scale back to an ATH
Investment is a slow game. Keep in mind, also, that there are different versions of Bitcoin now, as well, including Bitcoin Cash. So, some people have that Bitcoin SV has the original intent, the original vision of what Bitcoin should be. So, the best investment you could make might be in SV. But people may have to wait until 2030, that is ten years from now. It can take many years.
Bakkt did what it’s designed to do, allow for those people to hedge their bets! Yes it’s market manipulation we can see that, this asset class is small enough to allow for major price moves
But it’s not the only one that’s being manipulated we see it with silver for years too! Doesn’t make it right though
What I will say is that yes it’s a game do whales but BTC won’t scale without their investment! If it was only off the backs of retail investment the valuation would be much smaller!
The capital the pump in at certain times allows blockchain based businesses to extract a premium to keep going and fund their projects
It’s a long play and big banks are starting to take note so expect some more crazy moves