As someone who owns and believes in cryptocurrency, I'm actually glad this happened. I was getting sick of all the get rich quick people who've been driving the price lately, even for the coins that shouldn't be pumping.
It was almost as if the entire cryptocurrency space had turned into a huge unregulated casino.
I was at a couple of Bitcoin meetups recently and was surprised to find that most attendees were proudly saying that it doesn't matter if they understand how the technology works. It's one thing to not understand what you're gambling with, it's a whole another matter if everyone is actually proud about their very ignorance and even thinks of their ignorance (yet I'm still making money!) as being clever.
Unlike what some people pointed out in this thread, the price going down is not from people who got rich quick and sold. It's a panic sell.
That's what happens when you gamble with something you don't understand.
It was almost as if the entire cryptocurrency space had turned into a huge unregulated casino.
I was at a couple of Bitcoin meetups recently and was surprised to find that most attendees were proudly saying that it doesn't matter if they understand how the technology works. It's one thing to not understand what you're gambling with, it's a whole another matter if everyone is actually proud about their very ignorance and even thinks of their ignorance (yet I'm still making money!) as being clever.
Unlike what some people pointed out in this thread, the price going down is not from people who got rich quick and sold. It's a panic sell.
That's what happens when you gamble with something you don't understand.