I actually think crypto is on its way out. And will be relegated to the same exposure as MLMs are today in the future. As both are a facilitation of a scam and rely on people buying in. But the big surge has already passed for crypto and its harder to get greater fools to enter. However the principle as to how this operates you mentioned still applies. And these will be rightly seen as much. We are probably witnessing a hopium pump for the big folks to unload their bags before a rush to the exit once this all collapses.
I bought XRP yeeears ago at $1.35AUD before it surged to $4AUD and held throughout, not realising that even with that jump how lucky I was and should have sold. I was generally skeptical of cryptocurrencies at the time, this was in but thought XRP had a use case. With Ripple freeing up money held in Nostro/Vostro accounts for banks. https://www.forbes.com/sites/francescoppola/2019/02/10/there-is-no-such-thing-as-dormant-funds-in-banking/?sh=501b83ca5aef This article put an end to that thought, as was my lack of knowledge in the area I was suckered in. And I have not put in a substantial amount thankfully. But am still holding, gambling whether or not the "rush to value" continues for XRP for me to take a smaller loss. But it's looking like unless any somewhat good news occurs out of the US we will be here for a next leg down. And when margin calls get hit and money starts to be extracted, whatever real money is left in crypto will need to get pulled out. Who really knows how much real cash is left over.
