I think you're absolutely right and the market is getting saturated with a lot of traders in it for the short run, looking to make a quick buck which makes the market even more volatile. IOTA has risen really quick again but I'm sure a lot of the trades are going to cash out the huge profit they made which will cause the IOTA price to fall again.
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There are some of those who bough very cheap IOTA before it went to Bitfinex who still hold big volume however I believe that most already sold what they had.
I am sure that now the way is up.
This is the best time to invest, many will regret for not buying now.
I will not be one of them :)
Hi @michaelsol I agree with you! I've written a post about that if you're interested here is the link: https://steemit.com/cryptocurrency/@playforpleasure/why-iota-has-decreased-so-much-last-week-when-it-hit-the-exchanges
I think now is a nice opportunity to buy but I don't think the 'carnage' is over yet:)
The "get rich quick" folks are the ones that make this space less intriguing for new comers. They do not realize any "millionaires" that started with Bitcoin waited YEARS for gains to take place. The longer you hold the higher the commodity goes up 📈
I absolutely agree with you you in my opinion you should invest in a coin because you believe in the system behind it, I think that will make the best long term profit.
And the long term profit can be the biggest profit I think.