if it holds for another month, will people stop expecting a crash? everyone keeps expecting one, and there already has been one.. 45% crash from the 900's to 500's. it barely lasted, so no one considers it a crash.. but dropping in 45% in value is a crash to me.
I think a drop of 45% is definitely considered a crash. I think if there is a mass sell off then it's crash, even if its only like 15% - 20% drop.
btc will be more crash prone than most bull markets because it is so fubar to get your money into it.
If you've ever been to a gated rock festival/concert, similar thing. Crowd behavior inside the show is radically different than herd behavior getting in, which is different than everyone getting out.
When it goes vertical like this, you have people already in who want to cash out, fear overcomes greed.
But outside you have desperate masses seething to get in, and nothing to lose by staying out (whatever capital they are about to risk anyway). Greed overcomes fear.
The disequilibrium is in you have hundreds of thousands or millions of holders inside already, already long and holding. All they have to do to sell is hit the sell button. But all the people who want to buy are still outside the gate waiting in line, even if the exchanges are bringing in tens of thousands a day they are still in disequilibrium.
This is the strongest case to be made for buying the severe breaks, and sitting them out when they come. The line at the door is billions of people. Though even if it were millions the dynamic would still be there.
It will double from here faster than people believe possible. Don't try and time and don't cash out, instead pay attention to your security, you may be the new wealthy elite, but every hacker out there knows that now, and they know where to find you too.
