Institutions are thrilled that you’re selling, suggests OKCoin COO
https://cointelegraph.com/news/institutions-are-thrilled-that-you-re-selling-suggests-okcoin-coo
This is the type of article that confuse ppl who are looking to make profits out of the market, Institutions are not just than humans behind a keyboard buying crypto too, we just saw what happen when bad news arrive for example the XRP case, many "Institutions" like Grayscale have start to dump XRP because of their case with the SEC recently, in many other situations the market has abandon assets either because moves are over extended or some sort of regulation affect directly certain crypto asset, on 2017 Bitcoin drop dramatically because of the China Crypto Ban and what do you think would happen if something similar happens in the US? not saying it will but heavy corrections are natural behavior in crypto after exuberant upside moves.
I don't pretend or think that crypto will eventually replace FIAT but Im positive on the note that they can coexist but this type of titles is what may confuse many ppl and start buying crypto at this levels to then go through a correction process that may take weeks or months, this is the main reason everytime someone ask me if its good time to buy any crypto immediately I tell them that once they invest in crypto to forget about it, I tell ppl this because if they just getting into crypto they wont understand or will be able to take a -30% hit in a matter of hours and be fine with it, I also tell ppl that for them to see real gains crypto investments need to go through a cycle usually of two or four years depending on the current market state.
This might be words that you have probably heard before or seen other ppl write about but its the type of things that only none paid bloggers write about, common media outlets will put up titles like this "Jesus is saying why you selling if Institutions are buying?" then you get the average investor into crypto at all time highs just to get burn in a few months, yes they are not saying buy now but this generates FOMO at a bad timing, IMO this are not times to buy Bitcoin, if FOMO is so extreme then probably buy some depending on your budget but dont go all in, probably 10% of what you are willing to loose and then wait, I still believe that a correction is overdue and the mini dump at -17% from yesterday is an indicative that big players will start taking profits, its not a matter of IF its a matter of WHEN the cascade effect will trigger.
Stay safe and consider that this could drop -40% at anytime
