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RE: Don't Do What Dimon Does

in #bitcoin7 years ago

Thanks for sharing.
I personally think them market rallies and dips are "avalanche" effects. There is so much uncertainty around at all times that the smallest bit of news can turn the the tides. China announces ban on crypto (now even miners apparently!) and Dimons calls it a scam - people sell in anticipation of a dip. Then more people follow to buy back cheaper. Then people panic and the price crashs 50%. Same works the other way round.

So my point is, I don't think people really sell because of Jamie Dimons and co., I think most are just traders who take advantage of news like this, triggering an intended panic sell-off.

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Yes you may well be right.