yeah but the fall down was not big at all.
it was just small correction when you see the bigger picture here.
$780 was such a big rise which happened all of a sudden and that is why it was also unstable and couldn't hold up.
Yup. It went up too fast. It would be good to see it stabalise at the current price for a month or two before gently moving up again.
That is just my thought. I hope the price can rise slowly and steadily. We do not want big pump and dump.
You can't have a slow and steady rise for ever.
At some point, momentum will build up and the price will shoot.
Boom and bust cycles are part of the life cycle of every asset.
The main reason for the volatility is that the bitcoin is controlled by very few people, they can make profit out of volatility.
The big whales can dictate the bitcoin price. But as time goes on, more people are invovled, they cannot maniulate as easily.
That is the reason I do not trade bitcoin any more. I tried to trade previously, but I have lost some money.
Whales control every market around the world. It's definitely not limited to Bitcoin only. I am trading since early 2013 and have so far managed to make a more than decent profit every year. You need to make sure you know what whales will do and what their potential plans are. It's not that difficult as in many cases their behaviour is repetitive over a long period of time. Use that in your advantage.
