this shows that a large number of investors in bitcoin are just newbies that saw a big price (number) one day and read some happy to the moon posts/news and hopped on the train with the hope of getting rich quick. but these people jump of the train everytime it enters a tunnel.
It's the psychology of a bull market. It'll happen again and again.
exactly. rinse and repeat.
Wrong. Bitcoin has little chance to rebound to all time highs. There has been way to much shorting, panic selling, dumping whatever at the slightest increases, and it seems apparent that few people are willing to gamble that btc will see absurd increases. Manipulators fucked up, got greedy, and instead of re instilling confidence in the market by holding, they profit take every chance they get.
You could even look at that article about the whale trading club or some bullshit from a few weeks ago. These douchebags have no problem openly admitting that they make more money when btc goes down, that they collaborate about doing it, and the worst part is people sit there praising them going "they bring liquidity derp." I am also 100 percent convinced any of the pro bitcoin big players are either in on this shit, or don't give a fuck, as they have done nothing to stop it.
