The Crypto market is crashing... Now BTC= 7400$ & Eth=400$
What happened to BTC?
1.Thousands of people came into the Crypto field and started buying in Dec/Jan. So the market hyped unbelievably.
80% of them have 0 technical knowledge about Cryptocurrencies.
90% of them does not believe in Bitcoin.
20% of them have absolutely no idea what a cryptocurrency is and how the market behaves.
70% of them just wanted some quick profit.
2.Some idiots bought and sold for quick money and dumped the market.
3.Some people got panic and started selling.
4.Whales saw this early and slowly sold part of their holdings. Now they are buying at low prices.
1) So you do not want new people to come to crypto ? You want the money to be moving in between current investor ? In such a scenario, bitcoin prices will become stagnant. Mining is becoming difficult with time and thus become impractical in such a case.
2) If bitcoin prices are controlled by action of some people only (and those who are new investors) , even god cannot save us.
3) That is natural and will always happen.
4) I agree with this past. The huge price increase or drop you see is because of a few people (big investors) and not the common people joining in mass.