You are right because majority FOMO'ed and wasn't able to get out on time. And for those who have bought it at such a high price, majority of them get out when the price goes below the 5 digit mark and bitching around that they have lost in this market and blaming bitcoin.
It's a hard lessons to learn but you need to understand that the price doesn't go on parabolic rise although the market is fairly young, but you can see that it works on cycle. So now we're on the wrong side of it because its goes on a bearish mode for almost a year now. So there's no guarantee whatsoever that you will always see good profits.
It's a hard lessons to learn but you need to understand that the price doesn't go on parabolic rise although the market is fairly young, but you can see that it works on cycle. So now we're on the wrong side of it because its goes on a bearish mode for almost a year now. So there's no guarantee whatsoever that you will always see good profits.
All these people had to do was hold but they lacked patience. Go back and look at the past bitcoin charts, these type of crashes are normal and bitcoin always rebounds stronger. There is also a lot of manipulation at work here and the bitcoincash hash wars made the crash even worse.
Lacked patience or can't afford to go long since they expected quick easy profits. If you made your research, you'll know that it's very dangerous to have that kind of mindset when you're in this industry. It could've saved a lot of people's money if they took time to get themselves familiar with what they're doing.
