I guess if you have a pile of money on the side and not worried about upside risk you can wait to see if it dips one last magical time to buy. Im all in and just accumulating more as time goes. All my long term indicators say selling any coins now would be catastrophic to your health.
Whales control the price of Bitcoin. That's a known fact. They do this by manipulating supply and demand using huge buys and sells. Without the sells or without the buys there can be no manipulation. You need both or you have no power over the market. It's no different than having a car with no breaks or no gas. Remove either one and you have a wreck. Once you have made peace with that fact then you have the power to invest wiser by thinking like a whale. What would you do? I would milk this thing thing to death. But to do that you have to cause wild price swings like the ones we have seen in crypto history. And you can't achieve that by buying alone. The very history of this nascent market, with its wild price swings and dumps are solid proof whales do sell. After all you can't cause a price dump by buying, and the small investor lacks the financial power to move the market that fast and hard in such little time. And we have seen a pretty damn good share of dumps in BTC history. Whales who buy and never sell do exist but they are hard to find. Think about this and you may agree, whales sell.
BTW... cliff up ahead. Target price is $3600-3800 by Feb 2020. Trade safely!
BertGroffman
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@cryptospawn, the volatility you speak of is simply an unregulated market that is free to travel more than legacy which gets halted at 7 & 13% (which is actually what I call manipulation). The whales that you refer to moving the price are not whales, they are rich degens playing high leverage derivatives like on CME, then because the liquidity on exchanges and market cap in BTC are so low that many of those degens have the power to drastically move the spot price to fill their derivative positions. I mean the true whales, the guys that dont need to trade at all, they only buy. The long term supply & demand is what causes the exponential long term trend.
Attrition
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41K Longs 6K Shorts see you when the long squeeze happens.
BertGroffman
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@Attrition, the days of the market makers raping the masses of stupid panic sellers are gone, Im not sure if you have noticed the flip, but there are only decent traders and hodlers left this late in the cycle. Now there are also very smart rich guys playing leverage so they dont have to expose the bigger crypto holdings on exchanges. There will be a point, and soon, where they are all long and they just pump it to fill and support the leverage positions.
If you have more coins than every before, props, if you have no coins, you will get left behind like all the guys did originally at 4k imo. None of my statistical or technical analysis supports a bearish narrative.
Attrition
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@BertGroffman, It's not about panic selling when you get a margin call and eventually get liquidated you're just more fuel for the upcoming drop because it's not up to you if you sell or not the exchange will make you sell and the longs will get squeezed. Right now it's waaay harder for whales to pump the price rathen than to drop it and shorting is almost always more profitable.
BTW... cliff up ahead. Target price is $3600-3800 by Feb 2020. Trade safely!