Is it possible they’re dumping is actually benefiting the newbie and less fortunate investors?!
apart from the obvious fact that bitcoins are selling at discount right now.. theres something else to consider too
say a whale bought at $1200 in 2013.. refusing to sell at a loss. so waits years
he sells now at $3200 and swims off back to fiat ocean
the buyer buys at $3200.. refusing to sell at a loss.
now there is one less person willing to sell above $1200..
now there is one more person willing to sell above $3200
as more whales sell they moves out of the bitcoin ocean and into the the fiat ocean
the buyers are then in the bitcoin ocean and as time goes on they all find value they all can agree on as their bottom line.
there is still a large majority in the bitcoin ocean just swimming at the $5800+ depth and they wont move to fiat ocean at any shallower depth than that.(65%)
the other 35% that can afford to swim at shallower depths. so they are moving to the fiat ocean. and as they do, they are introducing new swimmers into the bitcoin ocean. these new swimmers are happy with a 3200 depth and want the depth to get bigger