/biz/ - Business & Finance

Where the fuck are we going? The Bitcoin whales have awaken. Do I hold or do I dump?

Bears keep saying 'whales' are going to push BTC down to 4K, 3K, 2K or whatever so they can buy back cheaper.

How does this work? Sure, the whales could push the price down by dumping, but when they buy back then the price will just go back up again.

It's a zero-sum game. If selling pushes the price down, then re-buying pushes it back up in just the same way.

Now, when BTC was at 20K there might have been an argument that whales dumping would cause normies to panic sell, thereby pushing the price down even further and allowing the whales to profit on buying those panic-sold coins at a lower price.

But BTC has already fallen 75%. Anyone left in the market today has very strong hands. If you didn't sell on the way down from 20K to 5.8K then there's very little chance that you're going to start panicking at 4K or 3K.

So at current levels, the whales are only going to hurt themselves by dumping further. The only logic behind a whale dumping at 6K is that they simply don't believe in BTC any more and want to get rid of it at any price. This seems highly unlikely, because if they no longer believed in BTC why would they wait until now to dump?

Bottom line, I can't see any reason for whales to force the price lower, because they are no longer able to induce panic selling among the remaining cryptocurrency holders.

Tell me what's wrong with this logic.

>>6621512
I'm just praying for some good hearted Whale to dump some BTC he bought in the dip, to scare the weak hands/normies into panic selling.

Join in for a solid 1 BTC Giveaway ! Few days left to participate ! discord gg/8QrD2vY

CAN WHALES CAUSE A PRICE SURGE?

I understand that whales can cause I dip in price be selling their crypto. But can they cause a surge?

Is it possible that there whales with massive interest in crypto that can cause the price to surge because that's in their self interest?