$TRX TRON - Rant on FOMO! Who really drives the price in #crypto
Quick analysis and rant on TRXBTC, people were asking me on twitter just how could I sell my $TRX at the top while everyone was cheering and believing in TRX still going to the moon, based on some tweets from the Justin guy and other "Crypto Gurus".
Well, one thing I learned the hard way myself is that the price of a coin is not driven by tweets, or by you and me, but by the big players with huge amounts of money (usually financial institutions), who don't really care about TRON at all, but have only one goal in mind: to make huge profits from buying low and selling high. They are getting paid to make money every day. And they have a lot of patience.
So these guys, they buy low, ideally when no one else knows about a coin and then wait for the hype to come, and then they drive the price up, using the FOMO from many unknowingly buyers.
TRON was the perfect example for that, Hype and agressive marketing helped the price go parabolic in a matter of days.
When the price reached the top, this attracted even more buyers, not wanting to miss the party. And that was what the big players were waiting, they started selling in the hands of the FOMO buyers.
They started taking profits. Big profits. 10x profits.
The FOMO buyers were left hanging, still cheering, but slowly the reality started to set in. Without the big boys to drive the price, the small buyers could not move too much the price up, no matter how many tweets were sent in the world by all the "crypto gurus".
Maybe the big guys will come back to Tron in the future and make another rally. But first we need for the price to come back to normal levels, corresponding more or less to the real value of the TRX coin.
Crypto is a marathon, is not a sprint.
So to ask a question - looking back, what is the right decision to make, after you see a 100% price increase in 1 day. HODL or Sell a part of it or all?
You want to play with or against the big players? You think you have a chance at beating them?
Even if you really believe in a coin, you can see that it decreased in price so if you sell at the top you can still rebuy it later at a heavy discounted price.
Emotions will kill your profits faster than any trading strategy.
Stop believing those "Crypto gurus", they will lose your money.
Happy to see your comments here or on twitter. Thanks!
Well, one thing I learned the hard way myself is that the price of a coin is not driven by tweets, or by you and me, but by the big players with huge amounts of money (usually financial institutions), who don't really care about TRON at all, but have only one goal in mind: to make huge profits from buying low and selling high. They are getting paid to make money every day. And they have a lot of patience.
So these guys, they buy low, ideally when no one else knows about a coin and then wait for the hype to come, and then they drive the price up, using the FOMO from many unknowingly buyers.
TRON was the perfect example for that, Hype and agressive marketing helped the price go parabolic in a matter of days.
When the price reached the top, this attracted even more buyers, not wanting to miss the party. And that was what the big players were waiting, they started selling in the hands of the FOMO buyers.
They started taking profits. Big profits. 10x profits.
The FOMO buyers were left hanging, still cheering, but slowly the reality started to set in. Without the big boys to drive the price, the small buyers could not move too much the price up, no matter how many tweets were sent in the world by all the "crypto gurus".
Maybe the big guys will come back to Tron in the future and make another rally. But first we need for the price to come back to normal levels, corresponding more or less to the real value of the TRX coin.
Crypto is a marathon, is not a sprint.
So to ask a question - looking back, what is the right decision to make, after you see a 100% price increase in 1 day. HODL or Sell a part of it or all?
You want to play with or against the big players? You think you have a chance at beating them?
Even if you really believe in a coin, you can see that it decreased in price so if you sell at the top you can still rebuy it later at a heavy discounted price.
Emotions will kill your profits faster than any trading strategy.
Stop believing those "Crypto gurus", they will lose your money.
Happy to see your comments here or on twitter. Thanks!