Bitcoin, cryptocurrency markets crash amid coronavirus—but some traders smell opportunity: 'I buy when people cry'

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Despite cryptocurrencies often going against the grain of the traditional financial system, in part because they operate without banks, some appear just as vulnerable to stock market shifts.

the wider markets and crypto-exchange platforms are easily manipulated by"whales" — people who hold large amounts ofHe explained how whales can be"highly emotional and speculative," but also placed some blame for the ongoing volatility on the websites used to trade in"They are quick to allow anything that generates fees for them such as buy and sell, but very slow about withdrawals,""Some exchanges allow people to trade with leverage and options which causes...

Wolfford rejected the assertion that Bitcoin is no longer a safe haven, and while he acknowledged some users may choose to cut their losses, noted that heavy price drops are generally considered a positive rather than negative."We call that having weak hands," he said."When you say $1,000 or worse, I see $1,000 or better, as in cheaper, like it went on sale. I buy when people cry.

Investors are now fixated on charts recording price values in real-time. But with so many factors in play, it's very difficult for any"Bitcoin is still novel and it is great as a means of transferring value quickly person-to-person but bad at holding value," said Charles

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Lol this is a very clever ad.

I cry & buy!

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