Before we start, I would like to say I have been absent from Steemit during the bear market but have still been trading, as trading is great during bear markets. I always keep up with Crypto news and events no matter what and something has been bugging me that I need to get off my chest even if nobody listens.
Many people are asking questions such as: ‘When are the whales getting back into the crypto market?’ and ‘How it will affect it next time?’ I have also heard people answering these questions with things such as: ‘They are waiting for the SEC & regulations’ or ‘They are waiting for what Coinbase does with a security licence.’
What people really need to be asking is ‘Are these guys really Whales?’ Now bear with me on this because yes these guys have lots of cash; I am not denying that; however when I was learning about trading I learnt that there were many ways to describe people such as ‘Minnow’, ‘Whale’ and ‘Shark’. However there is one that many people seem to miss out on that is ‘The Rock’ and no, i don't meant the actor.
Many people think the fish analogy is because of the size of the fish and that is kind of true, but it also refers to how much they can get pushed around by the market and how they behave in that market. So the market is basically the current in the ocean or river and the stronger the market reacts, the harder it is for certain people to fight it.
There is one that doesn't move when the water hits it in the picture and that is ‘The Rock’. When we were learning how to trade, we were told that to be profitable we have to be the rock to survive and the good thing about this is no matter how much money you have, you can still be the rock.
So why am I telling you? Well it comes down to this. The big traders are always the rock. They already know the buy in point and they won’t buy in before that. They also know the selling point. It doesn't matter what happens in the news for these guys, they will only buy when the time is right in the market and the time is not right.
I am the rock and I know my buy in point already. It may take months or it may take years, however it is not the right time, just yet…
Disclaimer: I am not a financial adviser, just a solo investor/trader. This is my personal point of view. Please conduct your own research before making financial decisions. Thanks for reading.