Are cryptos doomed by collusion?
I'm hearing a lot of talk about banks and other groups starting to manipulate the market an increasing amount. This idea is only strengthened by the fact that this last correction had almost every crypto following the exact same timing (both on downs and ups). A few months ago, sure there were a lot of graphs that were similar, but there were enough cryptos that didn't to show *exact* same moves and proved independent cryptos existed. In a truly independent market, would it not make sense that all the graphs would have a lot different timing as it was during the past summer? Does it stand to reason that bank manipulation will soon consume cryptos as it has fiat? Irritates me and makes me nervous. Makes me think the rich get richer by abuse and manipulation. *disclaimer: I'm a amateur crypto player/invester/hodler/trader. So I don't really know much and have only been looking at the markets for about 8 months*
Did you look at the previous years data around this time? The charts show that the entire market plummets. Every single coin/Token has been showing this same pattern year after year.
But the sync of downturn and reversal seem too perfect this time around. Maybe I didn't look at the older ones enough and closely enough.
Sure I’m not saying collusion isn’t happening but you really can’t call it collusion since it’s a free for all.
you don't lose money if you hodl
With your day trading experience in stocks, have you been making a killing day trading crypto?
It’s an unregulated market. What did you think would happen? That everyone would hold hands and sing koombaya? What is happening in crypto has happened before in other markets. 🍆
That's a valid point; I actually hadn't thought that straight through it haha. I assume a good way to think about it is the market only stays unregulated till someone buys up enough to regulate it the way they want.
Thanks :)