I know some coworkers that sold BTC today, they are real casuals, they got into BTC because they heard it went up a lot, they don't know even to set a local wallet so they store their coins on Coinbase or wherever the fuck they buy at.
That's the problem right here, people buying in without actually trying to understand cryptocurrencies and their implications. Of course they leave the market at the slightest sneeze, I would too if I were only in it for the gamble.
Well, they sold today at at the dip near the $4000 double bottom.
We still don't know whether USD 4k,- is actually going to hold though, don't jinx it. USD 5k,- may also turn out to be a double top :X
The irony is, these casuals are the ones that are always complaining about how it's unfair that BTC is distributed in the hands of few whales, YET, they are the ones that constantly panicsell and give their cheap BTC back to these same hands they are complaining about, because guess who is profiting the most on these dumps: whales. They buy lots of cheap BTC.
If you want whales to stop having so much BTC, don't panic sell or you will keep feeding them. Just focus on your own portfolio and keep stacking BTC on the dips. In the long term, we will win.
I wouldn't go so far as to say that it's mostly whales buying up these dumps. But there's a certain irony in people complaining about missing out while also either a) not trying to get started with cryptos in the first place and b) not being patient enough to hold.
Either way, I wouldn't worry much. It's no one's loss. They'll be back sooner or later.
Yes that could be the irony, some are in panic when the crypto market is down, they do not have the guts to hold their funds, they only complaining on some things that they dont understand, You see patience is neede here in crypto , when the market is down , don't sell your holds, wait for the market to grow again, it is volatile right so it can be change anytime, no need to rush things, just go with the flow.
