This morning, OM experienced a flash crash due to the project team suddenly announcing a large issuance of tokens, leading to a significant price drop. In the days leading up to the crash, there was a large influx of OM tokens into exchanges, which now appears to have been a setup for the crash, indicating that this was a premeditated downturn.
I personally believe that there will not be a cryptocurrency that continuously rises, especially altcoins, because altcoins are heavily controlled by manipulators who decide how high the price will go. This kind of upward trend makes it difficult for short sellers to act, as the price keeps rising. Once there are few short sellers left, the manipulators start to short themselves, leading to a big drop that wipes out everyone!
Auction is a very good example; those interested can look at historical K-lines for understanding. Their commonality is a sustained upward trend, but when the crash comes, it’s a matter of who runs slow and who picks up the pieces. As for going long during a crash, it is akin to dancing on the edge of a knife. If you plan to buy at 1 and it drops to 0.6, or you plan to buy at 0.6 and it drops to 0.37, trying to catch the bottom will only lead to endless attempts at catching a bottom. How do you know if you are catching it halfway up the hill or at the very bottom? If you are fully leveraged, you would have already been liquidated, so be cautious when trying to catch the bottom. Those who say they are not afraid of spot trading only truly mean that they are not afraid of BTC; the result of altcoin spot trading is often a drop of several dozen times.
