From the past few days one of the most burning topics, that has been circulating all through the country is the current dip in the prices of almost every other cryptocurrency. Many have lost their money in this dip, and have made an exit at extreme losses and the others who are still holding just want to know the cause of this situation and the possible prediction, if the market is ever going to recover.
One of the most reliable statements that we can consider right now comes from Mr. Dariusz Wota, who is the CEO of Wanda Exchange, who have emerged as the biggest Crypto Payments Service Providers in the recent times.
According to Mr. Wota, the current situation is the result of a combination of various incidents that took place recently. Currently, most of the crypto-mining is performed by a handful of big miners, most of them located in China, which has created a sentiment of disbelief in the concept of decentralization that Bitcoins had promised.
One of the recent incidents; where a flood in a crypto-mining site in XINJIANG province of China resulted in fall of hashing rate of Bitcoin by 35% has emerged as a topic of debate among intellectuals. Even if not the majority but a considerable section of the intellectuals believe that the decentralization cryptocurrencies promised is just an illusion, as a single incident of non-functioning of a crypto-mine lead to the fall of hashing rate by 35%.
But, the most notable features of all of these developments are when small-scale investors like middle-class households are “Panick-Selling” their cryptocurrencies, many of the established and large-sized players are making mammoth entries in this dip. Therefore, it is a possibility, that situation of total-confusion was created knowingly by these businessmen, so that they can make entries in Bitcoin and other cryptocurrencies at the lowest prices.
And this can be verified from the fact that Bitcoin prices have fell by up to 38% in this dip, and this event has been marked by the entry of these large-sized investors which makes us suspect that all of this maybe a virtually created situation to expel-out the small-scale investors and turning profits into the hands of the “WHALES”.
According to Mr. Wota, this is not a situation where we should panic, the most educated move to make right now is to pump-in more assets in preferably Bitcoin during this dip or just hold your current assets, because the market is expected to touch a new all-time high after it recovers after a recession period of “just few weeks.” So, hold on your positions and you are all set to see big profits coming in some weeks.
A remarkable statement that Mr. Wota gave is, “Cryptocurrencies are not one of those get-rich-quick schemes, rather they are a use-your-mind scheme, the more patient you are and the more educated moves you make, is the more profit you make. Therefore, it is highly advisable for the small-scale investors to stop panicking, and make smart yet educated moves and stop being a prey to the “WHALES”, who tend to rip you apart of all of your savings.
The current market situations are highly-suspicious and there is a high-possibility that this has been created knowingly for making an opportunity for the “WHALES” to enter the market. Therefore, Mr. Wota advices you to stay patient and make some educated moves after analyzing the current situations so that you can prevent yourself from being a prey for these “WHALES”.
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