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.
Things like this will happen with bitcoin prices because some people accumulate large amounts of bitcoin at a very low price. And when they dumped the bitcoin price, they always bought back more bitcoin. This has shown how important bitcoin is if someone is just thinking about how to reduce the price to have the opportunity to buy at a low price. If I were you, I would not be worried about what Grayscale did to the bitcoin price recently; it is not a new thing to bitcoin because we are seeing the volatile part now. You should use this opportunity as Grayscale is rebuying his bitcoin to buy bitcoin at a low price with the money kept for the dip before the bitcoin price starts its upward trend. Remember that whales have been manipulating the bitcoin price, but bitcoin always recovers to set an ATH of $69k. Don't allow this to ruin your bitcoin accumulation plan.