Are we going to get rid of market manipulation someday? This is so frustrating... Bitcoin could be doing much better right now if it wasn't for this Grayscale bullshit. This company holds too many coins, and even worse is the possibility they might purchase large chunks of Bitcoin, once they crash the price to the dip.
Who might be buying the coins Grayscale are dropping on the market for sale? Another whales? I don't hope so... It should be an opportunity for small and new investors to reinforce their wallets with more BTCs and decrease the power and influence of whales inside Bitcoin market, at least a little.
I'm telling people to invest in Bitcoin, because this is a golden chance before the halving event, but after seeing what this Grayscale is doing, I'm not sure if I should keep encouraging people, or if we should wait the price to crash further in order to buy. I confess the influence range a single whale has inside the market worried me regards the future.
I must tell you the truth this is a blessing in disguise for people who understands what's going on. Yes Grayscale is pushing the price down with their continuous sale, but ask yourself who are the people buying? Be among those that are buying and wait for Grayscale to finish selling and see what happens with bitcoin. We are wiser now to understand when there is a manipulation in the market. This is an opportunity for bitcoin to get to those who has been waiting for the price to come down to this level, but the funny thing is that most of them will still be waiting for further dip which may happen or may not. With the level of awareness that bitcoin is getting everyday, even if Grayscale sell all their holdings bitcoin will never be enough for the global population. There can only be 21 million bitcoins and the world population is over 8 billion. This is a simple manipulation, let's not give the whales what they want don't sell to them buy emptying your bag because of Grayscale selling, instead buy from Grayscale as they are selling.
It's only those that have been following up with many years of all sorts of ups and downs in this sector that would understand the significants of this moment that the bitcoin price has been facing a dip in the past weeks as a result of the Grayscale sales, but just like you asked, if Grayscale is selling then who are those buying? This should be a food for thought to those are are panicking selling due to the price fall instead of leverage on this Dip to accumulate more.
If bitcoin was really going to dump dipper than it has ever done before, and also if the future of the halving and bullrun we are expecting isn't positive for bitcoin then Tesla would have joined in the sells but instead they are maintaining their holding still. What does this mean to those panic selling?
Tesla Maintains Bitcoin Holdings — $184M in Digital Assets Shown on Balance Sheet