Topic: STOP FOLLOWING BITCOIN WITH SENTIMENTS! - page 5. (Read 2829 times)
Assuming you were referring to prices and the markets in general, then it's debatable. There's nothing wrong with following bitcoin itself, both the technical aspects and the markets, and watching the price movements. The problem arises when you start listening to these so called "market experts" or "market analysts" that make bold price predictions.
* It is good to hodl some bitcoins
* the price of bitcoin is largely depended on few individuals who have the power to manipulate the market.
* the price of bitcoin is largely depended on few individuals who have the power to manipulate the market.
you do realize that these two statements that you made here are in exact contradiction to each other, right?
if you truly believe that bitcoin price largely depends on manipulators who according to you control the market then you should NOT buy bitcoin at all. you should always stay away from anything that is manipulated in that level.
of course what you are saying is pure nonsense because you are exaggerating the level of manipulation that bitcoin has, possibly because you have heard something somewhere which is now repeating it here.
It has become increasingly unpredictable to know what would happen on the crypto market at any point in time. It is good to hodl some bitcoins though but it is equally important to note that the price of bitcoin is largely depended on few individuals who have the power to manipulate the market. Most analysis that are made on bitcoin are just made with mere sentiments and nothing else. Cryptocurrencies has always been a suitable venture for smart people but if care is not taken you may end up being misled by so called experts on the crypto market. It is good to invest your funds in bitcoin but don't fully trust crypto analysts without doing your own background research by reading wide.
This method applies for any investment asset and not just to bitcoin. Own research and listening to your own thought is very very important when it comes to any type of investment.
However, I don't agree to that part of the statement where you have said "the price of bitcoin is largely depended on few individuals who have the power to manipulate the market." Definitely there are whales in the market who owns large amounts of bitcoins using which they can create fake demand or supply to manipulate the price. But are they really doing so??
I remember reading a chainanalysis blog post few months back where they have analyzed the bitcoin usage trend of the most wealthiest whales and proved that they are accumulating bitcoins in small quantities and not really manipulating the market. Read it from the below link,
https://blog.chainalysis.com/reports/bitcoin-whales-oct
I hope this research paper will clear some of your misconceptions about whales!
That's why we need to research before we invest. Most people don't research what it needs and they only follow what other people suggest. But suddenly, they are losing money because of their mistake. That can be prevented if we can analyze from the other people suggestion so we can decide what we need to do. Don't accept 100% from other people prediction and always research the current situations, so you don't make a mistake.
This goes for any asset, manipulation via marketing and game theory is present in any market. People should always research the fundamentals and try to understand the thing they are investing in.
It has become increasingly unpredictable to know what would happen on the crypto market at any point in time. It is good to hodl some bitcoins though but it is equally important to note that the price of bitcoin is largely depended on few individuals who have the power to manipulate the market. Most analysis that are made on bitcoin are just made with mere sentiments and nothing else. Cryptocurrencies has always been a suitable venture for smart people but if care is not taken you may end up being misled by so called experts on the crypto market. It is good to invest your funds in bitcoin but don't fully trust crypto analysts without doing your own background research by reading wide.
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