Altcoins Investment is Responsible for Biggest Bitcoin Drops?
Almost all bitcoin investor has invested in altcoins in the hope to double their bitcoin, but maximum fails to do that and now bitcoin is also suffering from this.
Maximum Altcoins is launched to collect Bitcoin from small investors and they use that bitcoin to trade in the market, In reality, you will find that team behind altcoins is responsible for the biggest Bitcoin crash.
We have already explained How Small Investors are losing Bitcoin by Investing in Altcoins? and you need to read that to understand this trick to fool small investors.
Binance is giving 1% yearly Interest on your bitcoin deposit, Now when you give your bitcoin custody to Binance or any other company in return of 1% or 2% then they play with your bitcoin to make more bitcoin, they try to control market by crashing it and buying more bitcoin.
Altcoin Investors are indirectly giving bitcoin control to those people who are trying to centralize bitcoin economy
Bitcoin Suddenly dropped 1000 USD many times and all this is done by traders and exchanges who are holding your bitcoins. Many users have claimed in Twitter that Binance is dropping the price and pretending in the market that they are not part of it.
#binance #bitmex is responsible for biggest bitcoin drop, stop giving your bitcoin custody to @binance , never trust any exchange @cz_binance is playing with your investment and bitcoin is suffering @APompliano
— Vivak (@StocksExchangeR) May 11, 2020
There are many reputed projects tokens whose value dropped from 1000% to 2000% and investors still hope that during the bull run they will recover all their investment.
Big Investors and New Investors Only know about Bitcoin and they will not invest in Tokens and coins so the chance that the value of those token will rise along with bitcoin is very low.
Today many altcoins value is overrated and they did this by controlling the price of altcoins, they grow along with bitcoin and attract more trader attention.
Many IEO coins show 200-300% growth only because early investor have locked their coins for some period, and when they unlock you will see a huge drop in project price, Check an example of Matic Token
Matic Token Dropped 73% in 1 Hour and all this is done by binance, but again they pretend they never did anything and they will investigate the matter. Project owners also know about this game but they can’t disclose this to anyone because they sign NDA will all those big exchanges.
The above Video explains Matic Crash.
If you understand that your Bitcoin investment is the only investment that can make you rich then the price of bitcoin will start growing and you will not see 10-15% drop in bitcoin in a single day.