Buying BitCoin on the dip

BananaRepublic

ruperts wrote: »

Of course. If your investment has gone up by 100% in a few days most people will take at least some of the money. When it goes up by another 100% they would take a bit more. Very few people will have been able to avoid that temptation in order to realise the full gains.

Those few that did stay the course, well the cynic in me suspects there’s a reason why they don’t want any publicity.

There are said to be a small number of people with substantial holdings in Bitcoin, so called whales. What this does mean is that a small number of people have undue influence. It would be interesting to know the reason for the recent fall. Is it due to large scale selling by the whales? Bitcoin sells well in the Far East where people invest their savings. Although I am cynical, I do wonder what proportion of Bitcoin holdings are in this group, as they would stabilise it.