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RE: Crypto Market DROPS Hard - $200 Billion in Value Lost - How Should You Approach It?
THIS IS NOT A CORRECTION!!! ITS MANIPULATION!!! This happened just after Bitcoin can be short. Are you blind Bobby? Everything is changed now when you can short it. It was pumped up by Wall Street people that wanted to take down Bitcoin and get paid for it.
bankers are on xmas holidays now, so we can buy it cheap, every time they try to put it down, we can make money off their bad manipulation, if you get my drift?
I think you are right @agnesebarhorst. The rise is just as much manipulation as the dip. To me that is the message of the last few weeks. Some unknown controllers (whales) appear to be able to pretty much make any currency dance at will. Puppet up, puppet down. Overall though, you have to expect the puppetmasters to suffer from the greed factor too and mostly I think we can expect a return to a more reasonable gradual rise over the next few months. It's not natural for any commodity or currency to go straight up forever. When all is green, learn that all can be red too.
And thanks @CryptoBobby and other commentators for the calm cool hand hodling. It is so clear that many crypto investors have never invested in stocks or other volatile 'instruments' and are not steady enough to weather down turns. Market manipulators call it "Shaking out the weak hands." Price drops, people panic and sell, market makers buy, price goes back up. Wheeee.
BTC for instance is up something like 1400% on the year, and 221% in the last 90 days. 221%!! What? You're whining because it dropped 20 or 30% today? Sniff. 10% is considered a correction in the stock market, 20%, a crash. When was the last time the DJ Index posted a gain of 221% in 90 days? Why never of course.
Cryptos are on sale in time for the holidays. Millions of people who couldn't afford to get in will do it now. Projections are that 29 million people will open crypto accounts in the next 90 days. Always check the activity volume. You will see huge spikes in volume every time there's a dip. The best thing I (re-)learned from @CryptoBobby was averaging in and out. Already saved me money, and made me a smarter investor. I still have $500 fiat waiting to be plugged in, slowly.
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