Many of crypto ''enthusiastic'' believe that the media caused current market conditions. They created ''FUD'' to make bitcoin cheap, manipulated the market, try to murder bitcoin and more blablabla.
But, to be honest, this is complete nonsense.
It is not Goldman Sachs, it is not India, it is not China, it is not regulations, it is the community that caused the current situation.
It is early 2017 when 'the normal guy' enters the cryptocurrency market. 'The normal guy' caused the first bull run that peaked around 120 billion at the 14th of June 2017. We then saw a huge sell-off and the total market cap dipped to around 60 billion (almost a 50% drop).
That group of ''investors'', or so-called ''community'', is the real reason of current market situation. People that follow the technology know where they invest in, they are not scared. People that blindly buy ''coins'' because their friend say so, really don't know what they do. These people are causing negative sentiment because the only thing they are talking about is low prices. These people believed they were going to buy a Lambo within three weeks after they invested in Verge at the peak. These people are just gambling and following the crowd. They are exactly doing what the majority does and losing money to hype creators. It is like playing a poker tournament without knowing what the small blind is.
And that is the worst thing.
Stabile markets need smart investors, with patience and knowledge. Not some chimpanzees that base their decisions on Facebook posts. Stabile markets do not need so-called ''TA experts'', ''Blockchain Experts'' or ''Cryptocurrency Investors''.
Blind investors are missing the bigger picture. They miss the comparison with Amazon and Apple. They miss huge parties are entering the market right now. They miss life-changing deals concerning good blockchain projects. They miss the fact that governments are extremely positive about blockchain. They miss all signals that are so positive and that is why they will lose. They lose because they are ignorant.
Stop crying, start buying. While you drink a beer, tell a friend about all huge advantages of blockchain technology. Tell him it will change the world. Tell him that current prices are irrelevant. Tell him he needs to invest his time in knowledge instead of hundreds of worthless facebook posts. Amen.