So we all know how regular traders pumped up the gamestop prices to exponential prices. And major shorts were squeezed and a lot of hedge funds lost money in it.
I was thinking how about we all make up a community for crypto and maybe try such thing ? We all say that whales are manipulating the markets but we are not doing anything to tackle them.
Look at the prices they keeping it so tight right now that even stocks are more volatile than crypto. Why not eat the rich in crypto ?
Have you seen any changes despite the lowkey attention crypto is getting since we entered bear market, the crypto trading market is now a competition between whales short and long squeeze of each other just to liquidate each other and get money from each other. Sometimes, when things are happened that are either beneficial or detrimental to the market, it's always the whales thy are always push the narrative to the mainstream just to induce fear or fomo among people, this is how squeeze attacks happen everytime.
How do we manage this? It's only through tight regulations!
However, how many people are ready to allow crypto to be regulated? I'm of the opinion NO!
We want Defi at full force, enough of the middle men in traditional market, we need such thing here because if crypto becomes regulated, we might not enjoy it as we used to, don't be surprised if they one day canceled out event like bitcoin halving and some anniversary that are been celebrated. Regulations will not do crypto any good but more harms.
But if they can probe centralized exchanges of users that do this manipulations, they can be easily fetch out if they conduct proper investigations, after all whales used centralized exchanges the most for the attacks and manipulation of the market but Binance and others will close their eyes as if nothing is really happening in the exchange, don't be surprised that centralized exchanges coordinate most of the attacks we see as whale manipulation because they control almost cryptos in circulation.