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I think way too many people invested for the wrong reasons. They thought they would make a small fortune in a few months and then cash out. But they were in for a rude awakening and probably strapped for cash and forced to cash out at a loss.
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Either you're a paid shill or you're hoping to buy coins sub $100, why else would you be on a bitcoin forum?
If you don't see that 2015 will be the best year bitcoin has seen so far then I have no time to convice you.
Also your argument about the 3600 daily coins mined is something which is being repeated 1000 times a day in this forum. Just the last 24 hours the global trade volume exceeded 1.4 million coins, 3600 is like nothing compared to 1.4 million. And that is if all the 3600 coins are being sold daily, which isn't happening.
oooh. A sour 'hodlmybtc'. I'm not hoping for sub 100$, i know it's inevitable most likely. All 3600 coins are sold daily - on average. More coins have been mined in the past that also maybe need to dump at one point. why is it repeated so much? Maybe because it's a major marketforce (the supply)? Sure, pump and dump volume is impressive. What's the point of that? you keep 'hodlyourbitcoin' and maybe go for some fresh air in case it's too much for you. Remember: price isn't important for a true believer. I maybe really need to quit the forum as only brainless people seem to be here now and everyone who isn't a bull is suspected to be a paid shill and insulted for being spot on. I feel much better since i have let go of the bull on the 5th of january. And suddenly i make bitcoin while being in pain for so long.... you need to capitulate and be desperate before we can move up again. You're still in denial stage. If 3600 coins being produced per day is bearish, why was 7200 coins per day bullish? Oh and I buy coins each month no matter the price. If there are less than ten thousand people like me around the world that will suck up all coin supply at these prices.. Of course next year it becomes 1800 coins a day. Only 5000 people buying around the world monthly to support the price..and that excludes paupers and the rich. Price may weaken, sure, but buying in a halving range with an exponentially decreasing coin inflation rate is a bit like buying bonds in the knowledge of progressive future interest rate falls. Hint: look up the relationship of bond prices to interest rates.. The problem with this forum is it populated by short term traders using technical analysis, but ignoring the much bigger picture. I agree. Too many people are looking to "get rich quick" so they cry when they can't cash out without losing money. |
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Shorting is dumb. That's a quick way to lose money. Buying and holding long term is the best strategy, unless you know how to day trade. You'll get burned if you try to time the market.
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Cool story babe. Can you get me another beer?
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There is no source. It's just the bears' typical bullshit.
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I call bullshit. There will be no massive dump from China.
Just wait and see, I will be. I love the excellent grammar  |
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I call bullshit. There will be no massive dump from China.
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I've been thinking more and more...why are people so overly emotional about the bitcoin price? We saw a $10 to $15 drop this morning and everyone starts panicking.
I honestly believe that a lot of people invested more than they can afford to lose and that a lot of people invested who never should have. There are always going to be price fluctuations.
I think it's partly why bitcoin bottomed out so low honestly...lots of these types of people panic sold at a loss. Let's hope most of these faint-hearted, emotional investors have been wiped out of the game.
I think that the only healthy way to take bitcoin speculation, is to take it as gambling. People who realize that it is gambling, know that the odds aren't in your favor. Those people go to the casino to loose, not to win. They consider this money as payment for entertainment and they consider wins as unexpected bonuses. The degenerate gamblers get emotional because they think that their gambling is actually "earning by investment". They always need just a little more money to win some money back, without realizing that in the casino, the house always wins in the long run. Good point. Yes bitcoin could theoretically go to $0 and stay there, but most likely it will recover. When? How much? To what extent? God only knows. I was down over 50% in my investments during the stock market crash in 2008 or whatever. Was I happy? No. But instead of panic selling at a huge loss those accounts have higher balances than they did before the crash without me adding more money into them. I don't know...maybe I'm just calmer than the vast majority of people. When I invested in bitcoin I knew there was the very real possibility of my fiat being tied up for a long time, which has been the case... I see it as a venture capitalist investing into a start-up company but as less risky. If the company fails you're completely burned. I would be very surprised if bitcoin went to $0. Just my 2 cents. |
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I've been thinking more and more...why are people so overly emotional about the bitcoin price? We saw a $10 to $15 drop this morning and everyone starts panicking.
I honestly believe that a lot of people invested more than they can afford to lose and that a lot of people invested who never should have. There are always going to be price fluctuations.
I think it's partly why bitcoin bottomed out so low honestly...lots of these types of people panic sold at a loss. Let's hope most of these faint-hearted, emotional investors have been wiped out of the game.
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I think the pessimistic people are people who sold at a loss. Why else spend all day talking trash about bitcoin on forums and trying to create a negative mood?
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We've also had similar percentage drops from previous ATHs that rebounded...
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Not necessarily...a much greater proportion of people can afford to buy in the lower the price gets. The wealthy can buy that many more. Once the price makes enough of a sharp rise people panic buy and then it just takes off.
Not to mention the block halving in 2016 will cut the number of new bitcoins produced per day in half...
It's just as easy and affordable to buy btc at $5000/btc as it is at $5/btc, you just get more or less btc depending.. It's basic human psychology, or psych 101...people are going to buy more of something when it is cheaper. |
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Not necessarily...a much greater proportion of people can afford to buy in the lower the price gets. The wealthy can buy that many more. Once the price makes enough of a sharp rise people panic buy and then it just takes off.
Not to mention the block halving in 2016 will cut the number of new bitcoins produced per day in half...
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I'd be surprised if we hit below $150 again...too many people won't be able to resist such cheap coins. If we do somehow hit $50 to $100, I think it's going to have an even larger boomerang effect. Too many people will be salivating at ridiculously cheap coins and will mass buy.
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Great thing about going down to $50 to $100 is that all the emotionally weak investors would have panic sold, and then the market only has 1 way to go...
No more emotionally weak investors plus an abundance of extremely cheap coins available...need I say more?
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Re-read my post. I said buy pressure when and if we get closer to those prices...not at the current moment. How can you know there won't be more buying if we reach extremely low prices?
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Who thinks we could see these prices in the near future?
I plan to load up on bitcoins if we get below $125 and buy like 30. However, if I'm thinking like this, maybe there will be too much buy pressure to get to this price again as other will wants to jump on these cheap coins.
I still can't tell if we're on the way up or not honestly. I thought we were, but now I'm not so sure.
Only time will tell I guess.
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not in 5 years but 5 months i say yes.
What makes you think this? Just curious but I hope you're right . |
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The difference between a bull and a bear is that a bull doesn't make dumb emotional decisions and rides it out, whereas a bear gets pessimistic and emotional and sells at a loss and then whines.
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Exactly. Keep buying to mitigate your losses and lower your break even number. Much smarter than selling like some of these other dipshits.
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