I'm gonna be honest with you all , i have been trading/investing since 2017.
I earned about 110.000 by trading and basically lost it all, i decided to sell the rest and just quit. I'm gonna explain why, this cryptocurrency market
is very manipulative and can easily be controlled and it will never stop. The icos/alts will always keep sucking all the btc cash so it will always be hard for btc to grow and
dominate.
This market is made to make money and profit from noobs it's like a bitconnect scheme. Every dollar that is made by someone, someone will lose money. Every dollar that
is made in this system will be sold to fiat and if there is low btc buy power it will mean that btc will only keep going down. This market is basically made to make
money from new users like a scheme. For example can you actually believe that if you would've put 10k usd into bitconnect you would have a monthly return of about 4500
every month by lending? This is unbelievably high which again means for every btc/dollar you lend out into this cryptocurrency system = someone will lose money that's
the main reason this market won't be there for long. Because it's basically a pyramid scheme.
I want to address these emphasized points because some of them get to the heart of crypto as an investment.
"Every dollar that is made by someone, someone will lose money." Essentially, this is absolutely correct. As an investment, Bitcoin is inherently worthless. It is an unproductive asset because it doesn't produce income. You buy it and the only way to make money is to sell it to someone else for more than you bought it for. So in this sense, the only dollars you get out of owning Bitcoin come from someone else.
"This market is basically made to make money from new users like a scheme." Correct, in that it wasn't
designed to operate like a ponzi scheme, but it
does operate like a ponzi scheme for anyone buying crypto trying to get rich on it. That's because, again, the only way you can make money on Bitcoin is to sell it for more than you bought it for, and the only reason someone else would pay more for it is they also think they are going to be able to sell it to someone else down the line for yet more money. So the earliest people into crypto make the most money, and it requires ever-increasing amounts of people to get into the market for the later people to make money. This isn't intentional by Bitcoin, it's just what naturally happens when mania takes over and large groups of people chase pipe dreams.
"For example can you actually believe that if you would've put 10k usd into bitconnect you would have a monthly return of about 3400 every month by lending?" Lending in crypto is the same as any other currency, it can be repaid through the extra economic activity it allows without anyone losing money, so your conclusion that people have to lose money through lending is not correct. However Bitconnect was a clear ponzi, and anyone who invested in that got exactly what they deserved. Anyone offering stupid ridiculous returns shouldn't be trusted, except everyone in the Bitcoin community has been so conditioned to expect those eye popping returns that it didn't seem abnormal, and that's a case where the mania over Bitcoin has warped everyone's expectations and left them susceptible to being scammed. I don't feel bad about that because the only thing that's going to restore sanity is people losing loads of money and collectively realizing this Bitcoin bubble is not normal and not sustainable. But it's worth noting the difference between something designed to be a ponzi (Bitconnect) and something that only operates as one because everyone is behaving recklessly (Bitcoin). The dangerous difference is that people who are investing in crypto don't realize the risk they've taken on in doing so, because it operates like a ponzi in that you can only ever make the money you take from later buyers, even though nobody has set up crypto to intentionally be function this way.
To some extent you are right that bitcoin is manipulated and whales are the controllers. Small investors do not understand ups and downs in the price and they have no idea about what is going on. Besides all this many people still are making handsome money from their investment because I think that profit in crypto also depends on luck.