CryptoCurrency : ELI5: What are these “bears” that keep bringing the market down?
I keep reading that the bears are keeping the market low, they are manipulating it to bring the price of it down. Causing coins to crash etc… blah blah blah
Well, if that is the case, first of all, what are they doing it for? Surely they want the market to rise so they can make a profit? or sell super high so they can become Lambo owning over indulgent 1% snobs? (I know I wanna be)
I’ve seen people say that they are doing it to buy low so the next big bull run they will be rich. But, my thinking is, if they are already able to make the market bear then they must have upwards of millions anyway so that seems unlikely.
I also thought, perhaps by keeping the price low and having mini bull runs and crashes then its a way for the big financial companies to instill distrust in the product, I am seeing more and more people who were HODL advocates starting to worry and change their mind, is this all some massive end game? All I know if my portfolio is around 48% of what it was this time last year and every week or so after a few small bull runs it just gets lower. I can’t seem to find a reason and I think there are so many fantastic crypto solutions out there that it’s mad they’re not all pluto-ing (that’s more than mooning)
Just looking for someone else’s’ thoughts…
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