Someone will burn himself.... ending up with much less as they previous owned....
Let them play, let us HODL, let us all enjoy and be happy
That’s exactly what will happen mic.
It’s great when it’s working for them, selling high, buying low, increasing their stashes......until there’s a massive unexpected pump which turns into a FOMO rally & then they end up screwed
I agree completely! This is the truth! There were many chances in 2018 and 2019 to increase the stash by trading. If someone used them - cudos! But most of us didn't dare to try such a thing and increased their stash only by buying. With the coming of the next halving these chances will be very limited if any at all. Look at the last crash - it was 5% but from a temporary pump, so it is effectively 1% below the steady line around 8800 from the last week. Recently we've had a 42% pump out of nowhere and Bakkt's volume is getting higher and higher. At the beginning it was 10-70
BTC, whereas now is over 1000
BTC every day. All this shows that clever investors are buying while the small fish are selling with lame 1% profit (or worse, stop loss).
As for the bad actors on the market, there are 2 types:
1st type - The miners with huge farms with the new s17s asic miners. They would want to suppress the price so that old s11 (which are still the vast the majority of miners) are shut down because of the loss. And this break-even price is around 9K even for those with 4-5 cents per kWh. The recent drop in the difficulty shows this might be the case.
2nd type - Manipulators with bitcoins dumping on Bearstamp with the hope of bigger percentage profit on the unregulated derivative exchanges like Bitmex.
Having said that, I don't think we should despair because there is a cure for both groups.
1st type - It is better to hedge the newly mined bitcoins on bakkt rather than dumping with the hope of the difficulty drop. This is very hazardous and may bring dissapointment resulting in a bear market. Also, the halving is coming soon, and such a move can be an own goal, because if the current price is kept after the halving, even the s17's won't be on profit.
2nd type - What is the point in shorting with 1% profit when some surpise 40%+ pump erases almost half of your manipulation ability?
And finally, as hodlers, let be rational and not emotional no matter what happens! 1% drop, 40% crash, who cares! Buy moar, hodl if needed 5 years, and enjoy the fruits of your perseverance!
