I agree there is a ton of manipulation and no way for me to prove that institutional money is not going to create a huge pull back.
That being said there's enough people like you and me (and investors who have a few hundred k) who will basically never let the market cap of certain projects fall below a certain level because we believe so strongly in them. I think that this will create an effective price floor and my best guess is that this price floor is around 65 billion.
It's all speculation either way and I think it's important to be critical like you are. Nice discussion!
Yes, all speculation as it is out of our hands. Approx 65 billion does seem to be the current floor and it was tested last month (low of 62 billion). We do see institutional money come in and out and this influence will subside to a degree as the market cap for the sector grows to significant levels and becomes more diversified. For now it is very volatile and all we can do is play the smart long game. Lets hope we see a second major wave in the coming months and we push past that 115 billion ATH. I am just waiting patiently for August 2019 as that is the month I will make some new life decisions.
What happens in August 2019? WIll you make a post about those life decisions?
Let me know if you do so I can read, upvote and comment on it!
I do have a lot planned. Everything from building pyramids to building my own decentralised administration systems on the blockchain to remove the power from government and to make them irrelevant. I will write about these things at some stage in the future. Appreciate the interest.