Destroying Bitcoin (Your Fault)

[ElPicaroTrader]

So what is the point of all these excuses about cycles and adoption?

If adoption is supposedly growing, why does it also seem that there are more whales, more people getting trapped, and more players trying to profit from manipulation?

Honestly, this forum sometimes feels less like a place where people question manipulation and more like a place where many people simply accept it because they benefit from it.

And regarding the idea that “Bitcoin tells you where it wants to go”: Bitcoin does not “know” where it wants to go.

A lot of the time the charts look chaotic precisely because too many powerful players are pulling in different directions.

It is like putting one piece of candy in front of a hundred children. Everyone wants their piece, but nobody seems to realize they may destroy the candy in the process.

When Bitcoin was tiny and there were “four whales and seven monkeys,” extreme volatility was understandable.

But if Bitcoin is supposedly maturing, how can we keep normalizing an asset reaching an all-time high and then losing 50% a few months later?

Yet every time someone criticizes this, the answer is the same:

“Cycles.”
“Learn to invest.”
“Look at this chart.”
“Read this link.”

But at the same time, many of you openly admit that manipulation exists — and you support it.

That contradiction is exactly what I do not understand.

[pooya87]

It is honestly depressing to see people justify crypto manipulation by attacking others as “bad investors.” Nobody is blaming anyone else for their good or bad investment decisions.

That is not the point.

The point is the manipulation itself.

It may not right to blame anyone but you have to realize that market manipulation is not about some whale selling to push the price down or conversely about t he whale buying to pump it up. It is about the considerable portion of the market participants making a bad decision usually based on some FUD. So for example if what we call "weak hands" start panic selling just because some moron said something negative about bitcoin, then we can blame them.

We go back to what I said earlier: we want people who understand bitcoin to adopt it not people who are here to make a quick buck. The later are the ones that enable market manipulation.

[SilverCryptoBullet]

It may not right to blame anyone but you have to realize that market manipulation is not about some whale selling to push the price down or conversely about t he whale buying to pump it up. It is about the considerable portion of the market participants making a bad decision usually based on some FUD. So for example if what we call "weak hands" start panic selling just because some moron said something negative about bitcoin, then we can blame them.

We go back to what I said earlier: we want people who understand bitcoin to adopt it not people who are here to make a quick buck. The later are the ones that enable market manipulation.

People mostly don't change, can not change themselves, and they repeat mistakes cycle by cycle. Strong hands will have stronger hands with time and market cycles because more market cycles mean more experience to help them to understand more about the market, and realize efficient result from holding strongly. People who have weak hands firstly because they have weak mentality, that can be strengthened by having more knowledge about Bitcoin, Bitcoin market includes market cycle, and psychological cycle, then have more experience in the market.

Unfortunately, with weak-handed, weak-mental people, they mostly can not change and will be more possibly repeating their mistakes in previous market cycles, and lose money again.

Psychological pitfalls of market cycle.
Wall Street cheat sheet: the psychology of market cycles.
Wolong: Dogecoin and the game of deception. It's a classic example on how to manipulate a market based on psychological cycle.