Why is the crypto-market falling now?

fenzy2017 (35)in #money • 6 years ago

That’s pretty simple. And that question was asked long time ago, but I will answer about beginning of May 2018.

Not like many people think “oh, the FUD began, UPBIT has been raided ( Korea's Biggest Crypto Exchange Raided Over Suspected Fraud - CoinDesk ). Yes, for today’s drop it is a key event. People are scared: “What if I lose all my money?”. But government (since crypto is not decentralized YET) won’t allow you to lose your money if you haven’t done anything illegal. If you have bought Bitcoin for any official currency on that official exchange, of course there are legal support and you can claim your money through court. And they don’t want to deal with all those cases. That means your money are safe there FOR NOW and it depends on regulations and restrictions which will be applied to Upbit. The best thing is to hold offline, luckily almost all (if not all) coins have their own wallets and if I were you - I would have sent everything to offline. Just in case.

Second and I think the most important thing - is Consensus that will be happening in New York 14–16 of May. There will be a lot of people from financial institutions (Those that crypto needs right now). A lot of top-managers of companies that everyone is dreaming about partnership with their favorite coin. But last year there were 2000 people attending, right now it is 7000+ and it is not just “guys to watch crypto”, but those who cryptocurrency depends on. At least for now. And their decisions will be the key. For example you won’t see any worthless coins founders. Of course there are a lot of things about Stellar Lumens :) And I am ultra excited. This is the link where you can see all agenda, speakers and etc… Consensus 2018 - CoinDesk . Only according to that link you can make right decisions where to invest in. But why I meant Consensus and dropping price? It is because whales (those, who have a lot of money) want to dump price and make it lower. For example I have 1000 BTC at 9500$ per BTC ($9,500,000) . I will start selling creating big walls. People will see and start selling that too. In the end we will make price around 7500$ per BTC. And then I will buy in. And sell orders will keep coming due to FUD. And I will buy all of them. And number of my BTC will be almost 15% more. Easy as it is. Remember last year? Drops in May and drops in November? Not “because of China”. Because of manipulators who wanted to get more at a lower price.