The hype of Bitcoin. Where has it gone?
Every year, the price of Bitcoin has always been climbing. Till the phenomenal price of almost $20k USD.(wow, damn). WHAT THE HECK HAPPEN TO THE MARKET?!
What is happening right now?
People are taking profits or pulling out/giving up.Â If we actually think about it, a lot of individuals invested in crypto hoping for a quick profit(lucky you if you invested last year before November!).
But what about everyone else who has invested after? Time and again Bitcoin been taking a beating and pulling every other altcoin down. Most people canâ€™t get back the capital that they have invested.
With every single day, people see their investment dwindling and they canâ€™t take it any longer and get out of crypto. Prices continue to drop. To save whatever they have left. Actually, thatâ€™s a good option. If they do that, itâ€™s best to leave the space for good. The reason behind it is, if the price climbs again, they might FOMO and actually buy in at a higher price. Weâ€™ve all been there. Please donâ€™t do that.
Since the market keeps dropping, whoâ€™s been buying?
Whales, big-time investors and believers in crypto. Right now, Bitcoin and altcoins are being pushed to the extreme because everyone wants it! Because itâ€™s scarce, everyone wants to get as many coins as they can get because itâ€™s a finite resource. The reason why the price has been climbing and dropping in a sideways movement. Itâ€™s to get people to sell their coins, in hope of “catching the dip” then reversing it suddenly. But in reality, youâ€™re selling to them at a low price because the market is unpredictable. It climbs and drops at will. By that, I mean some big whale pushing a button to drive the prices.
Is cryptocurrency going to die and my capital is all gone?
Goldman Sachs Bitcoin Trading Desk
George Soros Entering Cryptocurrency
If cryptocurrency is going to die, why the heck companies setting up crypto exchanges?! Are they nuts? Probably not. You know, itâ€™s really good news that there are coming into the crypto space! But at the same time, it isnâ€™t really good news. Why? Because they are going to need to accumulate Bitcoin to make their exchanges work.
How they are going to do it is pretty simple, spike the price up like they did on April 12th, $9.2 billion dollars pumped into the crypto market with 24 hours(which had made no sense), giving people the illusion that itâ€™s the start of the bull run.
Making them FOMO, buying in and then slam the price right down with a good old combination of FUD. Making people panic and sell. Rinse and repeat until they have accumulated all they can until no one wants to sell any longer. Then they would have no choice but to push the price up to entice new people to start investing. A dirty move in my opinion, but itâ€™s all about strategy and we all know, there are no rules in crypto.
Letâ€™s think logically, how much further can they push Bitcoin down? To the price where it almost makes miners no longer wanting to mine because of the cost. Because that would pretty much send cryptocurrency right straight to hell and then we and they will be pretty screwed. They wouldnâ€™t want that. All that accumulation for nothing. Make sense?
What should we do now? Should you be bothered about the dips?
Itâ€™s always good to buy lower, so donâ€™t invest all your funds into cryptocurrency at one time, take a portion of your funds that you donâ€™t really need right now, and invest it in good coins. Think about it this way, everytime it drops, buy some. Youâ€™re buying into an investment! Geez, thinking about it, Weâ€™ve bought some at $11k, $9k, $7k, well maybe weâ€™ll get to buy more at $5k! If we look long term, cryptocurrency will be the future of the way business transact. All we need to do is, start accumulating.
If you believe in a potential crypto company, purchase their tokens and store them in a cold wallet like the Ledger Nano S.
The stories you hear about people who made a fortune in cryptocurrency were either wealthy, to begin with, or people who left the coins alone many years. Wanna profit from your coins? Stash them away and look back at it when everyone around you starts talking about them again!