I don't really buy the theory that the market is a marionette whose strings are pulled by the few fingers of the puppeteers...
But I actually do believe that the whale-cumulators are there, and prompting gently, casting out chum over the waters. It's all the little fish that bite that are triggering all the reactions. The news headlines, the Op-Eds from industry leaders (and dare I say, influencers?), the social media and forum sentiment... that self-fulfill the desired outcomes of these guys.
They can't control the market directly, they don't have the resources or coordination required. But they have influence, and since it's mainly sheep populating the space, it's pretty easy to prod and watch the dominos fall.
Something did happen this time though, have you seen those shorts open on Bitfinex a few days before the dump? How can you have so many shorts opening and no movement at all in the market? Really weird stuff, looking more and more like someone doing it knowing a dump was coming, opening shorts and longs at the same time so he basically can't lose.
No I didn't, but it's pretty common anyway at least in the past 6 months. Every decent climb followed by big walls of shorts, simply because the pattern of rising before dropping is too tasty to resist, and so far, it's been working - just like in 2017 when drops were quickly followed by fresh long orders. It worked then too, just as shorting seems to be working now. And then when/if the pattern shifts, those who thought they would gamble will get caught out. Those who are careful will realise the tide has turned. Don't really feel it's
that weird.
that's only true if you assume there will be no more adoption and those who have adopted bitcoin are going to give it up! which is obviously not true. at this point it is about accumulating while also making profit by repeating the same process within the same price channel as many times as possible.
other people aren't buying bitcoin at this point because everyone is mainly waiting for the ETF thing to be clarified before they make a new decision and it is partly due to greed of wanting to buy cheaper bitcoin when ETF is rejected and price possibly falls.
Yeah, and remember when price seemed to spiral out of control once it breached 4k? People were regretting not being able to get more. People like me were somewhat cursing that I didn't even have a full Bitcoin. So this situation fits both users and holders perfectly: time to accumulate, time to develop, consolidate, spend and build economies, without worrying that price is going out of hand.
I don't know about ETF either, but if that's far away in 2019 and if it effects price short term, it still impacts little on users and holders.
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