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Following a correction where large holders sell, people waiting for the oportunity to get in buy and the coins are spread across more holders. Being smaller holders they are less inclined to sell for two reasons:-
- The amount they have invested is smaller and therefore do not see it as such a big risk.
- They haven't made big profits yet so will hold for a while.
So when it recovers we're in a better place than the previous peak and when that dawns on people, more buy, the price goes up, what was then the small holders become big holders and at the next sign of trouble the whole process repeats
Thoughts?