Weak hands and pump & dump tactics

I keep seeing people here and there talking about how rich people manipulate the crypto market through pump & dump tactics, generally with the help of some fake news or one of their public announcement endorsing or condemning an asset or another.

The truth is, it works. But it only works because there are weak hands.

After all, it's a two-step procedure: they need people to pump after they've bought and then to dump after they've sold. If no one pumps after they've bought, they've got nothing to sell better than when they bought. Likewise, if no one dumps after they've sold, they end up needing to buy at the same price they sold if they need to join that market again.

This second step is the step when weak hands follow the FUD and sell. That's how this kind of move can be profitable. And just like scammers scamming because it's profitable, this kind of pump & dump tactics will happen until it's not profitable anymore.

So, don't be a weak hand. Don't lose to FUD or you'll regret it. Don't invest so much you desperately need to sell if price temporarily goes too low for you.

Getting rich quick schemes are extremely risky. Play the long game. Buy whenever you feel you can really afford the investment and keep emergency funds for actual emergencies. And don't fall prey to these FUD tactics, because you'd be the one losing to it, not anyone else.

On solid projects, FUD is temporary. People who don't sell know it's just a temporary distraction, some kind of drama entertainment, at most.

It's only when the community and the market will have grown more mature and responsible that this kind of pump & dump tactics won't be profitable anymore.

And then only, people will stop making news about how a project is wonderful or not just to try and make a buck, because the actual news is them putting their funds into it, not an article about it. It already is a market signal in itself. The best vote of confidence is when people vote with their wallet.