Mining Community Partly Responsible for Crypto Crash

ASIC mining companies are pumping out ever stronger machines and mininpools are growing at an ever faster rate. Many miners have been responsible for allowing the price of a coin to reach ultra high levels or to begin crashing. While miners generate new coin that adds to the overall supply of coin, they take their earnings and sell directly at the exchange.

Miners typically take between 3 months to 6 months to even pay off their rig and begin to see returns. Instead of pricing their coins at the market's 24 hr high, they sell at market rate. Sometimes even driving prices down by selling at the bid rate, even when the bid rate continues to take dips. Some miners who have control over a fairly large supply of coin may indeed have ulterior motives. I do understand that this article will anger many people, however, these aren't merely fantasies but a reality. Control over supply = control over price.

Traders must do their best to counteract any price manipulation by generating their own independent pricing based solely off what they believe their coin's price will reach IRRESPECTIVE OF MARKET CAP. In the last article, we spoke of how the BTC Twins continue to claim that BTC will reach $320,000! yet no one explains what catalyst will cause such a surge in pricing?

The reality is, nothing is stopping the price from reaching said numbers unless sellers are willing to begin placing sell bids at higher prices, at whatever rate they choose.

Many will argue supply and demand and how market cap will be an insane number. However, tokens such as ripple have a total supply of 100 Billion coins and the currently supply is at 38 billion and market cap of 48 billion dollars for what many believe is a centralised and useless token. The point here is that market cap doesn't mean jack SH*7. Imagine arguing with these same keyboard warriors about ripple reaching $1 back 6 or 7 months ago? If you don't believe me, surf the forums you will have the same financial "experts" talking a bunch of nonsense and apply traditional market behavior to a new world economy- cryptocurrency! Mind you Ripple reached nearly $4 at its peak. Please tell me if market cap mattered then.

In conclusion, miners should have patience to wait for the ideal price of their mined coins and sell at their own rate which gives a higher return instead of dumping at bid or below. Miners should have an ethical responsibility not to purposefully sink coins for whatever reason that may be. Traders should also recognize when a coin is being badly manipulated and attempt to reverse these effects by refusing to sell at the lower manipulated rates to help keep the coin stable. The price of coins are irrelevant to market cap. Holders of coin who believe that their coin will reach a certain price should not wait for anything and take charge. That means, if you truly believe your coin is going to reach $X then its only logical the sell bid is placed immediately so that the order is first in line when it comes to selling.