Take Profit Whales Bitcoin Action

[Suba]

Bitcoin is back in the red, with a rate of decline of 2.55% in 24 hours. The current price of Bitcoin is $38k, apparently the result of the action of the early whales in a simple way of getting back more Bitcoin than they currently have. Early investors bought when the Bitcoin price of $200 increased selling pressure, The whales used the well-known dumping strategy.
Even though the dumping strategy is commonplace, it will have a negative impact on retail investors, so some people view the dumping strategy as a trick or cheating of the whales. What is your view on dumping, is it a trick or a strategy?

 

[Shaf]

I'm more of the view that this is not a simple dumping, but a bear market. Bitcoin has hit the $69k region twice and been rejected fiercely too.

This shows that whales and market makers, who are the major movers of the market and not retail traders are not willing to pay more than than for it. Of course they will be looking for an opportunity to buy lower, but that low price is yet to come. The longer the market keeps fluctuating this way, the more retailers keep loosing money especially if they hold altcoins, which is one characteristic of a bear market.