How the Rich keep getting richer in the cryptocurrency world?
Due to the late panic about the cryptocurrency dip especially Terra Luna and Terra UST has been the topic of days now. I was on phone with my friend and we where just talking about understanding the market and how it works in general and within the line he mentioned how the whole pump thing works. we where trying to understand how one can predict such moves and quickly take action before it's too late and he made mention of how he thinks about the manipulation behind the scenes on how they do all of this.
He asked ''do you know why the rich keep getting richer in the cryptocurrency world?''
I had no idea and he started explaining things I have never thought of but maybe knows. he said these rich people invest billions of money to a particular coin or coins, and that will make the coin rise and people that don't know and feel they should enter early and benefit from it starts puting their money to it as well and when it finally gets to their Target range, they pull out their money and the coin will fall so hard, and seeing that such potential coin has falling, many people will want to buy the dip and by so doing, they have another set of investors and after a little period, they put back a huge amount of money again and it keeps going like that.
– Wait! is this kind of a game?
– Oh yeah! cryptocurrency is a game itself
– If that Is true, what a strategy!