Usually on the biggest loss days, I shake my head because it just seems so ridiculous that people fall for the same headfakes over and over.
There are rumors of "institutional money". People invest. The "institution" says that it is not going to happen today. Prices tank.
Now, I am no institutional genius, but I am a genius who can think like one.
If I have tons of institutional money, and I know that cryptocurrency is the future... I will want to get me some. But... why would I just buy it, when I can manipulate the market to get it at premium pricing.
Create the buzz, build the price. Sell. Pull the rug out from under people by saying that institutional money will not be entering the market... let the prices fall. Buy back in, repeat.
If you keep falling for it, they will keep doing it.
I know why the term "weak hands" exists now.
My best advice is to stop caring about institutional money and investment gains, and start building economies based around cryptocurrencies so the institution that is continually robbing your time and money can no longer dictate the rules of the game. Build economies, use the currency and make it actually valuable because you can gain the means of survival with it. We have the keys to our own freedom. Let's be stronger and smarter than this.
Thanks.