Topic: Crypto has become the rich man's playground... - page 3. (Read 826 times)

Yes, you are right. But why this is happening? Who helped them to play? Both answer is "we the Crypto investos, holder and traders". Because we follow every richest person. If they tell anything then without judging we follow them. For this reason they can make hype easily among us. And they take advantage of this. I think we should unfollow them. If we do so then the rich mans cant play with Crypto.

In fact, some rich people can't put fixed criteria on this playing field, too many other rich people have different desires and are against these criteria, so poor management and living in loss orders for too long can still turn them into poor guy instantly, the poor in some magical way and they can acquire some assets in this case, they can still step into the position of the rich guys. The rich are also quite nervous in their decisions and survive here, they may have more money than many people but that is never a very real advantage, volatility is a wink

Big investors certainly don't care if other people lose when they are able to manipulate the market, therefore the rich have more power, everything can be easily done.  Their main goal to get involved in crypto is of course serious enough to be able to develop the wealth they have.  But in fact, when the whale is able to manipulate the market, of course there will be people who will benefit from the action it does

It's true that we can't do anything to stop the rich man from manipulating crypto prices. All we can do is be patient and try not to be influenced,
as long as we believe in Bitcoin and don't sell it whatever negative news is spreading. I am sure that in the end we can become winners by getting
profit from crypto. I agree that anyone shouldn't play and manipulate the crypto market in this pandemic situation, because a lot of people will suffer
because of it.

I'm so agreeing with this, man. Rich men started liking to toy the market. And it really started frustrating us, the investors. And there is really nothing we can do about it which is sad.

It is hard to deal with those big investors that are really manipulating the market without even thinking other people's feelings.

But what can we do? We are just going with the flow of the market and make technical analysis.

Hoping that they can make the market profitable for others, they should not play with the market during this pandemic.

There are possibilities that they will be market makers in a new variant. We had much better scenarios but it went completely bust leading to a breakdown in market sentiment, still FUD with China. Except, I'm not sure Elon was right to turn around at the fork with Tesla or he was smarter out of the game.
The wallets hold more than 10k BTC, it symbolizes power and what we have known in history. Lol

there is no crypto benchmark for the game of the rich but many people who start crypto are not rich but after they play in crypto they become rich people and vice versa rich people who play crypto and they become bankrupt and become poor, this is the reality in the world of crypto.

This. Although whales are gonna be part to induce fear to some people so that they'll panic sell and they'll take their coins to bulk up further their hodlings for sure. I learned this back when Bitcoin dipped to 3k, and good thing that I didn't panic lol.
I'll emphasize what you said that a lot of blind followers follow their favored celebrities without doing any proper research.
This is why I am not staying for a long period of time in Twitter. There are many braindead followers of celebrities there.

There's strong manipulation on the crypto market these days. Rich people like Elon Musk and Mark Cuban have huge influence over the crypto market, as people follow their moves. Prices could go up or down in an instant depending on what these public figures say about crypto (either good or bad). Dogecoin went all the way from being worth nothing to nearly $1 thanks to Elon Musk's praise through social media platforms. Bitcoin has also benefitted from Tesla's stance in accepting it as payment method. This is bad because it makes crypto dependent on a single person. It's like Elon Musk dominates the whole market right now. That's what you'd expect with centralized exchanges being the norm in the crypto/Blockchain space.

Nonetheless, people will ultimately decide whenever they'd want to allow a single person to dominate the market or all the other way around. No matter how the market is manipulated by rich people, crypto by itself will remain neutral thanks to the way it was designed. It's not about the price per coin, but rather how useful it is for mainstream payments. I'd just forget about how much a coin is worth in Fiat, and simply use it as a normal currency. Remember, 1 coin is always equal to 1 coin no matter what. Price volatility is only an issue when you use Fiat to determine the value of a coin. Just my thoughts

While most of the ordinary investors are struggling their investment, the rich mans or the whales are just enjoying and playing around the market. It is quite unfortunate because no matter what we do, we cannot much the influence they have over the market as well as the money they are putting in. We got no choice but to wait till they get tired of playing in the market so that we can see it in balance and recover again. Let us not give up on our investments, maybe one day they will have the heart to help us out from making profit here in the market.

I started to see everything that has been happening in the cryptocurrency market lately as the rich man's games. Elon Musk has started to see crypto coins as a playground of his own and is constantly acting as if he is in the game. However, as a result, many people are negatively affected and the cryptocurrency market is suffering. elon musk did not good services this market at all.

Actually on some point it is true that the crypto becomes the playground of the rich man because imagine that those who are rich and the one to purchase or buy cryptocurrency snd they becomes the big whales in which they have the power to control the market. That's the reality, the rich men are more powerful than the average person. Accept the fact that crypto nowadays becomes the playground of the rich men.

I am in no way condemning the actions of the esteemed Elon Musk. But I also want to note, because with his help we have reached new heights of bitcoin price. Yes, he can manipulate the market, and he knows that very well. But with corrections like this, the market is only getting more interesting.

There's opportunity in every action they made, and as "the poor" I am clearly taking advantage of it.

Though I won't tolerate this kind of behavior, but nevertheless, I don't have the power to do anything about it, so better be taking advantage of it instead of shiting something and something that won't do me good  

I agree with your opinion. We are not required to invest or buy Bitcoin. There are coins with low value but also profitable. If you know how to invest, small investments also make you richer. But there is one thing you should admit if you want to stand on the crypto market, you have to be economically strong. Accept the risks if any.

When we say rich, these are people who are smartly making money in crypto, yes, they are rich and they have the power to manipulate the market. It's a complete package if you are rich and popular at the same time, with that, making money is easy for you, one good example is Elon Musk.

If it is going to be true better to have some bitcoin to hodl because they will probably pump the prices really high and you have to be able to get as much bitcoin market pie when that happens because the dumps are going to happen really fast.

I'm just amazed how there are always dumb people angry for falling for the same trap over and over again... What do they expect? An unregulated and volatile market full of "investors" without any comprehension or coherence who can be easily manipulated is a walk in the park for a businessman with a lot of money and influence in the social media. The problem is this won't be the last time it will happen and it will eventually be the downfall for bitcoin and the origin of the regulated cryptocurrencies.

You just realize that? Why you think people here that have accounts from 2013-2014 they defend Bitcoin with life? Because they already made money because you pay a expensive price than them, people is so fool...