It would be a new phenomena in the trend of rallies and mini bubbles if bitcoin were to rise again to massive levels after a 50% one day drop in value this week. For that reason I think we`re in a bull trap now, so we`re on the B wave now, or the bullish `return to normal` phase.
IMO, too many new investors were burned by the bumpy ride this week, and it will take a few weeks for them to regain their nerve, if they come back at all. Also, prices are still too high to attract many new investors at this stage. The psychological barrier of buying `one coin` should not be underestimated. I think this little rally will lose steam and we should drop by a good margin this weekend.
That was a fucking good on the money answer and in it, you totally captured my psychology.
I wish I read that before dipping my toes in and buying just 2 coins (at a cost of $1500).
