BTCUSD Expose. how people volunteered to give away their $$$
I think its time the Cat is out the bag.
Pump and Dumps are not illegal for Crypto so therefore his was 100% legal and there is a good chance it will happen again.
Step 1) buy the Crypto of choice. in this case Bitcoin, but dont use up 100% of your capital yet.
step 2) Get momentum going. For something this big it can take months or a couple of years.This pump started in 2015/2016 News, Word of mouth, Articles etc.
step 3) When volume starts picking up signaling that the population is slowly testing the waters, you and your friends start buying them up and start a Rally to get things going.
Step 4) human psychology comes in and things like FOMO and Greed and just doing what everyone else is doing causes more people to jump in. Now the snowball is rolling down the hill, picking up more snow and getting bigger and bigger. they sell you hopes and dreams and the public buys into the dream of making millions fast. You hear one guy made a million out of 5 grand and another made half a mill in 3 month trading Bitcoin and you join them. i mean who doesnt want a better life?
Step 5) You assure the public that even though they are losing all their money that everything is alright. Enter "HODLING" the biggest scam since trump was born.
while you are HODLING, the pumpers are taking all your money from up under you. yet you are handing them more and more money because they tell you keep HODLING. they pass around HODLING memes and you think everyone is HODLING like you are. THE HUGE FIRMS ARE SELLING!!!!! thats why Bitcoin is sinking. it cant go down if everyone is holding. it can only go down if there are sellers.
when it broke below the HL of $15,000-$16,000 you shouldve sold most if not all your position. If you were holding once it broke below $12,000 idk what to tell you.
you couldve sold when it broke below $15,000 and if it came back up buy it back at $15,000 or $15,500. instead of holding on to the sinking ship and losing all that money.
EVERY BEGINNER TRADING BOOKS TEACHES YOU: Once it stops making Higher-Highs and Higher-Lows the up trend is probably over. when it starts making Lower-Highs and Lower-Lows then you should get out fast!!! if it turns around and gos back up, buy it back at the same level you had sold it at. that simple.
any Technical analysis basics book tells you rule #1 is cut your losses quickly, live to fight another day. the way people lose all their money is they refuse to sell and go down with the ship.
rule #2 INIDICATORS indicate, they dont Dictate
Nobody in this world can see the future. it may take Bitcoin 5 days or 50 years to go back up to $20,000. or if it gets regulated and pumps become illegal then itll be more like 500 years. instead of listening to others when they say it will go up look at what the charts are telling you.
now for the future.
The bottom may still not be in, it can go down until its 2,000 easily. just like i said it can go sown to 6,000 easily when it was over 10,000
Look at the chart, its still on a Down trend, momentum is slowing so its a good sign, but its still a down trend until it Stops making Lower-Lows and Lower-Highs and starts making Higher-Highs and Higher-Lows you shouldnt think its going up
Trade wisely, study before you invest your hard earned money. you wouldnt open up Boxing gym if you never learned to box, so why put all your money in trading without learning to to trade?
Best of luck, im sorry
the market is full of wolves. Im sure all of you know how corrupt the stock market is, and that is a regulated market. now imagine there was no SEC for the stock market. thats how crypto is. there is no denying that Crypto is something special and there is a future for it but dont think for a second that this is an honest industry. its 99% lies and inflation. but this is how things work, history repeats itself.
Diamond industry = plant the seed of want (creating a need) by saying that diamonds are a girls best friend and you need diamonds to show you love a woman when getting engaged. fast forward a few decades and it became so natural to buy a diamond ring when getting married that people forgot that diamonds werent involved in weddings until the 1940s when Ad agencies were hired to create a need for diamonds. then they artificially limited supply and created value. and now diamonds are made in a lab nowadays so why are they still so expensive?