Bitcoins volatility is nothing new, but this last week has been a challenging learning experience for many new investors. As prices continued to drop, many individuals sold out of fear of U.S. Secretary-Treasurer Janet Yellen's comments on crypto and from headlines speaking of a "double-spend" occurring with bitcoin.
Despite these claims, large institutional buyers, and what most refer to as "whales" continued to buy during these massive dips.
The number of individuals holding more than 1,000 bitcoin had previously dropped in December of 2020, but information shows a considerable increase in late January 2021.
Many argue that these headlines are nothing more than a means to manipulate the price and drive small investors to sell. It seems as though each time a new mainstream investor announces their bitcoin plans, we hear an issue on why small investors should not buy. As if bitcoin is a good enough investment for Ark, PayPal, Visa, and Greyscale to invest in but not you? Do not listen to the fear. By the time the banks and mainstream media start telling you to buy, they'll be the ones getting ready to sell. I hope you enjoyed it and, as always, follow along if you'd like more.