New to crypto currency. About two weeks in and reading and researching a lot to try to get an understanding. Not new to technology though and what great things will come with this boom.
My question is can someone explain the mindset tonight?
Suddenly all of these buyers pump up bitcoin about 400 dollars. I'm watching the trades go in and as the prize is teetering at the very top nipping at 3,200. Orders for 10, 20, 30, 50 bitcoins from buyers. Sellers are happy to unload.
Do these buyers care about charts and know they shouldn't be buying at the top and these large spikes always follow up with a dive? Do they care? Are they one pat of a team buying and selling to each other to keep the price up while unsuspecting sheep buy with their 1 or 2 bitcoins?
It's like all of a sudden tonight, all of these buyers and sellers are goin at it like ti was some staged event or some giant news story hit just recently.
I could see over the several days after BCC dived, but just suddenly within a 3 hour period? What is this mindset? It's boggling me.
I believe its called FOMO(Fear Of Missing Out). Studies have shown that most investors buy high and sell low, even though they should do the opposite. It is crazy how some people think(dont think). They all listen to Bitcoin BTC pumpers like Tone Vays(former Wall Street VP), yet they forget that Tone he probably has millions and bought his coins around $500. Its been quite fascinating the mob mentality in the Bitcoin space. It is crazyyy. It has been interesting listening to him. He has been the no 1 advocate for dumping BCC, yet just the other day he said he is not in a hurry to. hahahaha how funny is that. His fans probably all dumped, while he waits to probably dump at a huge profit. The same is true for BCC supporters.
