The price is going down because not enough real money is being put into it. I wonder why not.
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If the price goes low enough perhaps the bull market will return. But not at the price it is today. Too risky to buy now.
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I don't think this is going to happen. I am expecting a huge drop eventually. I can't see people rushing to invest in this market. A few will but not nearly enough. Its good money given over to other folk. No I wouldn't do that myself.
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I think there will be an almighty crash over the Christmas period when people are busy doing other things. Folk should watch the price. But it's too late to sell now if you paid a high price. I wouldn't buy now. Too risky. I read somebody is going to crash the price of Bitcoin and buy the Bitcoin cash up. don't know whether or not that will happen. But it's quite scarey even so.
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The biggest problem is hodlers want to more people to put money in so the price goes up that makes sense. What doesn't make sense is holding all the way down to the bottom again.
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I think its the end game. Though it's been a long time coming.
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Of course all this emphasis on hodling is why people have lost vast sums of money. for example say you bought at 4k then you held at the price went up and up and up and you thought great. I'll continue to hold till the price reaches 100k. It didn't so now you won't even make any profit at all if you sell now. With stocks and shares you get dividend so it's worth holding sometimes if the stock goes down. But with Bitcoin there's no dividend so unless you sell you will nEver ever ever make a profit or make any money at all. This is where people are making a mistake.
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It is very possible it could go down well below $1000. I don't know if many people are continuing to buy at this time with the price looking very uncertain. I don't think many new people will be drawn in until the price drops quite a lot more. And how much manipulation is going on behind the scenes most people will never know.
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The point is a lot of new people will have to come in to make the price soar. And I can't see that happening. Too many people have lost money. And why should new people come in to make money for others. It's beginning to look more like a pyramid scheme to me.
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I think you would need to be very brave or very rich or both to buy at this time. I think it will crash spectacularly before Christmas. And go to practically nothing. Still it's anybodys guess.
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I have been saying for months on this board that I think Bitcoin would drop eventually. Because a big drop was far more likely that it shooting back up to $20k. And this tether thing is very dodgy in my opinion. Seems like this time whales are moving money out of Bitcoin to prop up their other scam coins.
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I agree that hodling should not mean holding on to the bitter end no matter if your coins are going up or down. It means trying to buy at a fair price and holding till you have made a reasonable profit and then selling part of your holding. But it shouldn't be extremes. Like holding on to the bitter end when your investment could be worth nothing or else holding while you watch it go up and up and then you don't sell any and then complain when it goes down and cry over the profit you could have made but didn't. Common sense is lacking with some of this.
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This hodling nonsense is the biggest mistake anyone has made. People should have taken some profit when they could and not held and held and held while Bitcoin goes down and down and down. And then held and held till it goes down further. They needed to take some profit when the going was good and not this mad stampede panic selling when it's crashing. Or holding on till the bitter end.
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I cant see anybody buying at the moment. Far too uncertain. But if you had loads of money to dump and you fancied a gamble and can afford to lose well then maybe. But for any kind of investment then no way.
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Bitcoin needs a lot of new investors. And this is just not going to happen in this present situation. Personally I think Bitcoin is finished. But it's only an opinion. It hasn't been widely adopted and there is evidence of market manipulation.
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Nobody should buy the dip at the moment I'd say. too uncertain. But folk must make their own choices I suppose.
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The only bull market is in folks dreams. that's my opinion.
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I can't see it even reaching much above 6.5K. Or might even collapse completely. What new folk are going to enter the market now. Just can see why anybody would.
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A lot of people are after a quick profit. And it's not looking likely they're going to get one. I feel sorry for the holders because they are waiting for something that isn't going to happen like a rocket upwards. I can't see it myself.
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All this pump talk is just talk. I wouldn't risk money into Bitcoin at the present time unless I was one of those day trader types of folk. And then you'd have to be really lucky or have insider knowledge.
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