Did a sudden drastic drop happen? Yawn. Welcome to bitcoin.

The market just dropped straight down about 500 points. About 5% in an instant. Yep.

Bitcoin and crypto often get criticized for “market manipulation.” Personally, I don’t subscribe to the easy conspiracy market manipulation theories, even here. I see supply meeting demand. Or, a seller meeting a buyer. In the case shown in the graph, I see a whale making a sell, nothing more. The honey badger of bitcoin doesn’t care about these actions causimg a drop in price and he’ll bite back real soon.

I will say that I look forward to the day when “whales” like this will have only a tiny, tiny ripple in the market. You know how you buy a helium balloon and it’s awesome? And the next day it’s awwsome, but a bit smaller? And the third day it’s peaked? Then it’s ailing? Then shriveled? Then flat? As bitcoin grows, these whales are relatively shrinking.

The day will come. Patience. Work the protocol. HODL.

submitted by /u/crrdlx
[link] [comments]

Leave a Reply

Your email address will not be published. Required fields are marked *