Hi All,
I have been watching the price of BTC falling since 2014 until it hit previous 2013/14 highs which were more than 1000$
During 2014-2016(Before I decide to invest or hold BTC, I was using BTC to transact with folks.. paying for digital services.. like hosting/vpn, paying freelancers so I strongly believe in the power and the useful case of crypto).
Then I decided to dig in and bought BTC at 1200$ in March 2017.
Then kept buying on the way up until October 2017, so my avg cost were about 2.5k
I never thought or found it reasonable for BTC to hit 20k by end of 2017, it just seemed wrong because it's just too crazy thing to happen, however, I was sure that BTC will be valued at 20k in a few years due to high demand and capped supply.
So BTC kept going up gradually since beginning of 2017
my pattern for BTC price is like this..
1k-->3k (it took 3-4 months)
3k-1.8k (dip, 40% loss)
3k-->5k (it took one month)
5k-->3k (dip 50% loss lasted for less than a month)
5k-->20k (2 months)
20k-->
my point is, why the hell everyone thinks BTC is dead? or unhappy with what is going on? like seriously, are humans that stupid to think BTC will keep going up -non-stop? a simple living being with a half brain would expect BTC to dip based on the previous uptrend hype...
in fact, my opinion is, all people who bought BTC since 4-5k levels where in it for greed, remember BTG fork? then 2x fork that was cancelled? then hype of CME? the price of BTC after 4-5k levels were made because of people who are in the thing for a buck! not believers in financial freedom or the technology itself..
BTC was doubling in price and was taking enough time to do so and it was correcting by losing 50% of it's value.
BTC got 4x from 5k to 20k and the human psycho reaction for this is unknown but for sure it will be much harsher than previous dips because the gain of BTC was a lot than 1x.. (it was 4x) ...
so folks, for love of god, can't you see that 4-6 months bear market is normal and healthy for BTC?
BTC will shake out weak hands before it goes up next time and I see that we are close to the bottom of this year.
Comments/replies/thoughts/constructive criticism are welcome...