Recent reporting has shown that despite Bitcoin’s dip, those with hundreds of thousands of dollars – or even millions of dollars – worth of Bitcoin continue to buy and accumulate. However, small-time buyers, those with a few hundred or a few thousand dollars worth, are selling in at a much higher rate.
This is EXACTLY what the whales want to happen, and why many are confident the whales are manipulating the market. The more small-time buyers who sell there Bitcoin at cheap, the more they can buy and the larger control they can have over Bitcoin’s permanently-fixed supply of 21 million. Have no doubt, their goal is for institutions and billions to own the entire Bitcoin market. We should do our best to not let that happen. Bitcoin’s future is incredibly bright. Unless you absolutely need the money, HODLing long-term is the best approach and the absolutely best way to gain profit and increase your wealth. Of course it’s your money so you should do what’s best for you, but if your goal is to make money selling this low probably isn’t the best choice.
And yes, this is (or will be in the future) true of other coins too, but it’s especially true of Bitcoin given its small and fixed supply and the growing institutional interest.