There are many old investors now, and they have rich experience in dealing with extreme market conditions.
The dog dealer's operation is very different from a few years ago, and it is much more difficult. Not to mention the copycats, how much do you dare to hit Bitcoin and Ethereum? 40,000? 30,000? At this point, the old investors dare to go bankrupt to buy the bottom and take over the chips of this dog dealer.
In the future, cryptocurrencies will usher in a crypto-friendly US president, a compliant and relaxed regulatory environment, and more and more ETFs... It is still unknown who will win in the end.
Of course, the dog dealer can continue to smash, but at the same time, his own risk index will rise geometrically, and retail investors will compete with the dog dealer for chips. As long as you believe that the big cake will not die, it is nothing more than lying down and pretending to be dead.
Who of us who has gone through many bull and bear markets will not pretend to be dead?