Your fault, is that like many on here, you have started off balanced and analytical, but have gotten drunk on Bitcoin Punch. You have been correctly bullish from $500-$600 back when I was sitting out, at first in a huff, but latterly through caution, but now you are whizzing around with Bitcoin rose tinted glasses on and just as with all those who were calling me an idiot for selling at $1000 (prior to the big drops), you will probably be incapable of sensing when the tide turns, or even when it has turned. Now, should Bitcoin continue as it always has done up until now, in the long run you will come good, but who is to say that the same paradigm will continue to progress and grow and even if it does, then for how long?
Right now for example, there is clear momentum in Bitcoin and who knows how high the price can punch over the next few days. But still, there is this China thing still hanging over Bitcoin like the sword of Damocles, provides me with reason to my inherent subconscious fear of Bitcoin in the short-medium term. People scream that China has been priced into the market, I retort that CNY transactions still accounts for 65% of exchange trades. They scream that these are fake robot trades! I retort, in that case don't be worried, be fkn horrified!
Your weakness is that the minute you read anything on China, your mind will get tired and disinterested because your rose tinted Bitcoin glasses have already dismissed the danger....
Thanks very much for your comments!
It may seem like I am punch drunk but it's looking very much like it turned out right to be a bull over the past few weeks. I explained my reasons in several posts. I stick by them.
But I am not a day trader. I tried it but can't hack the stress. It strikes me that this might not be the best time and market for it anyway.
I am not disinterested about China! I was the first to respond to the recent post by the Chinese bloke. I mention China all the time!
Fundamentally the China thing is not a problem for Bitcoin's growth. I think it would be better for Bitcoin for there to be a clean break and for them to drop out completely and I think that we would bounce back very quick indeed from any dip this caused, rather for there to be doubt dragging on. It's the psychological factor that is a bit worrying, but in the end I think it is one element among many with Bitcoin and the goods outweigh the bads quite significantly at the moment.
I also don't need to learn special TA to see that Hodling is looking by far the best option for now and that day trading is fraught with danger. It's unnecessary right now and for the weeks to come I think. Just Hodl!
Incidentally I want to keep a good portion of BTC and spend some, at least until it is way into the mainstream. I think it is going to be a good, multi-faceted asset to have in a portfolio.
