~ I don't understand why we still don't understand that cryptocurrency can go up and down for no reason at all.Everybody, except newbies, knows that crypto market is volatile. They find reasons just to satisfy their curiousity.
I don't want to dismiss any of the theories floating around because each of them could have contributed to the level of current market correction. It is expected that there will be pullbacks but has anyone really predicted below $50K? I didn't. If it was just a normal cooldown, support levels at $50K would not be broken.At least for now, I don't believe that the crypto market has truly gotten rid of whale manipulation. You can check the price chart of DOGE, BNB, ETH, ETH, LTC, NEO, XRP... to see how terrible they are. Movements of market sentiment have not changed so quickly, behind the growth is the whale's money to FOMO and draw more money into the market before taking profits in November this year.~ I don't understand why we still don't understand that cryptocurrency can go up and down for no reason at all.Everybody, except newbies, knows that crypto market is volatile. They find reasons just to satisfy their curiousity.
Don’t want to dismiss any theory floating around because each of them can contribute to the current revision market level. It would be expected to be a pullback but what if someone really predicted below $ 50K. I do not. If it’s just a simple colddown, the levels won’t break from the support of $ 50K.
Unfortunately, along with the bitkin correction, absolutely all altcoins rushed down the price tag. Many times I observe that their price depends on bitcoin and once again I am convinced of this. We are waiting for the end of the correction.
~Whales are always present especially in an unregulated market like cryptocurrencies. They are often one step ahead of the game and they take full advantage of any news/rumors be it negative (Government ban, new regulations, or mining interruptions) or positive (market adoptions by governments and traditional businesses, etc).
At least for now, I don't believe that the crypto market has truly gotten rid of whale manipulation. You can check the price chart of DOGE, BNB, ETH, ETH, LTC, NEO, XRP... to see how terrible they are. Movements of market sentiment have not changed so quickly, behind the growth is the whale's money to FOMO and draw more money into the market before taking profits in November this year.
If these arguments are correct, then, in general, whales play a positive role for a more harmonious development of the cryptocurrency market. If bitcoin continued to grow in value further, this would cause further price imbalance in the market, as well as form a negative attitude towards bitcoin on the part of states. If someone believes that states will only observe from the outside how bitcoin increases its financial weight, then such hopes are unlikely to come true.
Therefore, it will be better if capital is also proportionally invested in altcoins, which will fulfill a certain useful role in cryptocurrency.
The whales do not let the market stagnate and this is not bad for traders. True, it is sometimes difficult to predict where the price of a cryptocurrency may turn in the next moment. Of course, whales are guided by their own interests. However, they do not allow the market to rise and fall strongly. Basically, they make money from the fear of people, as well as from their greed.If these arguments are correct, then, in general, whales play a positive role for a more harmonious development of the cryptocurrency market. If bitcoin continued to grow in value further, this would cause further price imbalance in the market, as well as form a negative attitude towards bitcoin on the part of states. If someone believes that states will only observe from the outside how bitcoin increases its financial weight, then such hopes are unlikely to come true.
Therefore, it will be better if capital is also proportionally invested in altcoins, which will fulfill a certain useful role in cryptocurrency.
Whales always play a positive role, but for themselves :o. It all depends solely on what the whales want to do at that moment, if they want to buy low they sell and create panic, if they want to sell high they do not sell and Bitcoin rises in price when there is more demand. It's as simple as that.