... I guess this is a shakeout of noobs to get more cheap BTC before the big segwit price rise.
this is actually what i was discussing with some people the other day.
we all know that activation of SegWit means a big rise and a follow up bullish market for a very long time to come.
so this simply means before it activates the only time whales can pick up more cheap coins is now, hence the dumps and shake outs.
it has happened many time before too. just before the $2000 was broken we saw the struggle to go above $1250 before that the dumps and struggle to break $900-$1000 and so on. and each time a dip and a lot of shake out before the big bang.
Yes, my thoughts exactly and you know most newbies fall for this EVERY time. Some of these whales do not even have to dump a lot of coins for
this to happen. They collectively decide to dump a few coins to stimulate a "panic" and then the downward spiral start.... they wait for price to
drop and then they start buying up all these "cheap" coins. Most traders use bots and triggers, so this happens quickly and the profits are huge,
once these Whales starts to buy again.
