I was just doing a little analyzing with my friend in Discord...
Does anyone have any real logic about why we won't see a repeat of this:
This is bitcoin for April/May/June - The top one is 2016, bottom one today
https://i.imgur.com/9TCCJrg.pngIt seems like Consesus hypes up cryptos, media picks it up, new money comes in, then the first to enter bag holders dump it on us when they realize it's not going any higher.
We already realized all the new money, hype has died down considerably to anyone paying attention. The Ethereum hype was largely driving this market, bringing in new people.
Look at how much the volume and price dies after those big spikes. There's never NOT a 40-50% correction after a spike such as these.. why would this time be any different?
It seems like people are just not seeing clearly because we've been smothered with sweet, sweet gains lately. It obviously can't continue forever, but everyone wants to remain incredibly optimistic.
Can anyone offer real reasons why we're not in for a 40-50% correction soon?
Would appreciate legitimate discussion instead of "god damn weak hands" "HODL" etc etc
You guys do realize the ones who got in early are going to cash out their profits at some point, right?