What's Going On in the Crypto Market Right Now
People experience the most fear. The negative news background is coupled with a decrease in prices. As a result, investors are exposed to enormous mental discomfort and severe pain in both “sell” and “buy” button area.
Why?
Due to the clear tendency of distribution from weak hands to strong. The number of wallets containing more than 10,000 bitcoins has substantially grown. It is obvious, that the crypto market is a genuinely manipulated market. The overwhelming amount of FUD was spread in order to buy back what was sold at 69 thousand by “smart money” and 50 thousand by “whales”.
There is a delicate psychological line here. The goal is to сause maximum pain, but keep the market alive. And the headlines that are stating a fair price of 13 thousand for bitcoin today, tomorrow might make a U-turn saying that bitcoin has survived the support level.
So, the market is recoving. The price is rising. People are starting to get interested in cryptocurrencies again. And the cycle repeats. #Thoughts
People experience the most fear. The negative news background is coupled with a decrease in prices. As a result, investors are exposed to enormous mental discomfort and severe pain in both “sell” and “buy” button area.
Why?
Due to the clear tendency of distribution from weak hands to strong. The number of wallets containing more than 10,000 bitcoins has substantially grown. It is obvious, that the crypto market is a genuinely manipulated market. The overwhelming amount of FUD was spread in order to buy back what was sold at 69 thousand by “smart money” and 50 thousand by “whales”.
There is a delicate psychological line here. The goal is to сause maximum pain, but keep the market alive. And the headlines that are stating a fair price of 13 thousand for bitcoin today, tomorrow might make a U-turn saying that bitcoin has survived the support level.
So, the market is recoving. The price is rising. People are starting to get interested in cryptocurrencies again. And the cycle repeats. #Thoughts