April 20, 2020 / Beginners
How Will The Outflow Of Crypto Investors Impact On Bitcoin Price
Telegram channels of top cryptocurrencies have been losing subscribers over the past two years at a tremendous pace. Does this mean that everyone will leave Bitcoin and the price will collapse to zero soon?
Let’s start with someone who is part of the cryptocurrency community. Therefore, we all are divided into three types:.
- Traders will always earn crust because he does not care what global trend is on the market if only there is more volatility. If you look at the trader from the point of view of his participation in the crypto community, they demonstrate a rather high activity and involvement in crypto space. Therefore, while the cryptocurrency market will work, traders will remain in place and new ones will come to crypto market.
- Investors or hodlers wait until the world abandons fiat and switches to using crypto. But a hodler does not have to be passive, we personally advocate the option when the portfolio is constantly rebalanced depending on market sentiment and the development of specific projects. And also there is nothing wrong with hodler to sell and buy at the bottom. All of them are waiting for to the moon event. At their core, scammers are the most strong supporters of the crypto community, but there are those among them who give slack and delete their accounts. Typically, these are newcomers who dare to enter the market at peak prices, and they do not have enough experience and nerves to survive the worst of times. Their path is the sale of cryptocurrency if only to pick up at least something and solemnly send everyone to such and such a grandmother.
- Nocoiners are those who do not have Bitcoin or altcoins. The bulk of them are those who know about cryptocurrencies and are in heavy thought should go to this market or did it scam all this? Our advice for such people is to be as careful as possible, double-check all information and move to the camp of traders or investors only after you are sure that this decision is correct. Many of the nocoiners, especially those who turned their attention to cryptocurrencies at the beginning of 2018, never intended to buy their first coin, after which they lost interest and left the community. There are many nocoiners who have very clear and negative beliefs. These are former traders or investors who have unsuccessfully flown off the market in a huge minus and are now waiting for everything to be reset to at least somehow justify their own mistakes. Also, one cannot exclude the presence among nocoiners and simply born haters, for example, the followers of Peter Schiff, who has already repeatedly predicted Bitcoin to drop to zero. There is even a counter of Bitcoin deaths. To date, there are 380 such predictions, and they take not just separate statements such as comments on YouTube or a post in a chat room, but quite reasonable publications, preferably from authoritative sources.
People are leaving crypto sources, and this is a normal thing because, in the wake of hype 2017 and the beginning of 2018, you and I have become too many. Too many who heard about cryptocurrencies became interested in the opportunity to earn, but then something went wrong. After all, far from all of them understood how the market works, how much a hodler should really wait until he sees the cherished native and why did Satoshi Nakamoto launch the Bitcoin network in 2009.
Moreover, the fact that people leave is good. After all, we know how the market works.
Each new cycle begins with the fact that all weak hands are removed. At the accumulation stage, it is also the phase of smart money in the market, only the most staunch supporters of the asset should be present. And the more people despair and lose interest, the sooner we can move on to the next stage of the cycle.
But this does not mean that a terrible end is possible when everyone leaves. After all, every day we make our contribution to ensuring that the industry develops and finds new supporters. And as the events of March 12 in the stock market showed, these common efforts are bearing fruit. After all, the Bitcoin market resisted during the general sale showed the best recovery dynamics and did it without the trillions of dollars that the US is now pouring into the economy.
Moreover, a portion of the money has already come to cryptocurrencies, according to the head of the Coinbase cryptocurrency exchange. Which is the best evidence that despite the decrease in the number of accounts on social networks over the past two years, the core of Bitcoin’s supporters grown over the same time.