Tom Lee, from bitcoin bull to bitcoin bagholder

[pooya87]

~
In any case, in that situation if bitcoin has stablized, I reckon that there would be more dumping and/or more speculation in altcoins.

i think you meant more "pump and" dump in altcoins because so far it has always been like this. when bitcoin price stabilizes (even for a short period of time) the traders start looking elsewhere to make profit since it becomes hard to make profit in bitcoin that is moving 1% up and down. so this migration starts some pump and dumps in altcoins.
this is also the reason why altcoins are always dumped when bitcoin starts some sort of movement up or down. traders dump altcoins to come back to bitcoin.

[aqila baruroh]

I am no stranger to the name, the prediction is always accepted by many people and becomes an interesting topic for discussion. but this year's market is very difficult to guess and makes many predictions miss.

[bbc.reporter]

~
In any case, in that situation if bitcoin has stablized, I reckon that there would be more dumping and/or more speculation in altcoins.

i think you meant more "pump and" dump in altcoins because so far it has always been like this. when bitcoin price stabilizes (even for a short period of time) the traders start looking elsewhere to make profit since it becomes hard to make profit in bitcoin that is moving 1% up and down. so this migration starts some pump and dumps in altcoins.
this is also the reason why altcoins are always dumped when bitcoin starts some sort of movement up or down. traders dump altcoins to come back to bitcoin.

No, not necessarily a pump and dump, but speculation can also refer to daytrading, swing trading and other types of more active trading strategies than longterm holding without conveying them as scams

[Whosdaddy]

Just because someone bought from high prices doesn't make him a bagholder, he can drop his averages down from buying more which as a rich person he can definitely worth doing it and probably doing it plus being behind a project means being behind it on bad days as well as good days. I have been here for over 5 years now and I am supporting bitcoin from highs and lows and really don't care where the price is going and I will still be here.

If you are not supporting bitcoin because the price went down than you are not supporting bitcoin at all and just trying to make money for yourself. Which makes you the bad people bitcoin was invented against.

[Tapyaks72]

Just because someone bought from high prices doesn't make him a bagholder, he can drop his averages down from buying more which as a rich person he can definitely worth doing it and probably doing it plus being behind a project means being behind it on bad days as well as good days. I have been here for over 5 years now and I am supporting bitcoin from highs and lows and really don't care where the price is going and I will still be here.

If you are not supporting bitcoin because the price went down than you are not supporting bitcoin at all and just trying to make money for yourself. Which makes you the bad people bitcoin was invented against.

The important things is the integrity of the system whatever ever the price  might be, because some people believe bitcoin is an investment, for me bitcoin is a medium of payment or currency which faster and economical, the real investment is the ICO’s in which they introduce real products and services for development.

[Bagaji]

Well, in my opinion and not minding whoever made the speculation or prediction it will be difficult for Bitcoin to penetrate such height before end of December this year except if something positive will have to happen to Bitcoin and crypto currency in general.

[bbc.reporter]

Just because someone bought from high prices doesn't make him a bagholder, he can drop his averages down from buying more which as a rich person he can definitely worth doing it and probably doing it plus being behind a project means being behind it on bad days as well as good days. I have been here for over 5 years now and I am supporting bitcoin from highs and lows and really don't care where the price is going and I will still be here.

If you are not supporting bitcoin because the price went down than you are not supporting bitcoin at all and just trying to make money for yourself. Which makes you the bad people bitcoin was invented against.

That is what a bagholder would say hehehe. Bagholders say things because they are so sure that their coin will make the new highs again even if the price today is saying that there is a possibility that it might not occur.

I might appear that I am teasing you, but we should be honest with ourselves. We are taking a risk, nothing is certain.

[Pursuer]

Just because someone bought from high prices doesn't make him a bagholder, he can drop his averages down from buying more which as a rich person he can definitely worth doing it and probably doing it plus being behind a project means being behind it on bad days as well as good days. I have been here for over 5 years now and I am supporting bitcoin from highs and lows and really don't care where the price is going and I will still be here.

If you are not supporting bitcoin because the price went down than you are not supporting bitcoin at all and just trying to make money for yourself. Which makes you the bad people bitcoin was invented against.

That is what a bagholder would say hehehe. Bagholders say things because they are so sure that their coin will make the new highs again even if the price today is saying that there is a possibility that it might not occur.

I might appear that I am teasing you, but we should be honest with ourselves. We are taking a risk, nothing is certain.

that is stating the obvious, nothing is certain and we are taking a risk but we are talking about chances and potentials. unless you think bitcoin's potential has just ran out and the adoption has hit a brick wall and stopped there is no reason to believe price isn't going to rise up.
and the current price is not giving us any reason to believe otherwise. price is currently stable and looks more like a solid accumulation phase just like the couple of prolonged accumulation phases that bitcoin had in the past after each of its bubbles. each of which eventually led to a bigger rise.

[fulmetal08larz]

I agree completely with Tom Lee. What we are waiting for BTC and alts is for the people to accept and use it widely accross differrent transactions to purchase goods and services. I think it's almost the same scenario with the internet, whrein people feared it at first but now, it became a necessity.

[StarofBTC]

~
In any case, in that situation if bitcoin has stablized, I reckon that there would be more dumping and/or more speculation in altcoins.

i think you meant more "pump and" dump in altcoins because so far it has always been like this. when bitcoin price stabilizes (even for a short period of time) the traders start looking elsewhere to make profit since it becomes hard to make profit in bitcoin that is moving 1% up and down. so this migration starts some pump and dumps in altcoins.
this is also the reason why altcoins are always dumped when bitcoin starts some sort of movement up or down. traders dump altcoins to come back to bitcoin.

Yeah, and most especially looking for a market that has already bottomed out to start their new round of speculation anyway and then we just see the same rinse and repeat process over and over again, from  btc to alt and back to btc. This is the reason why until we start seeing real life adoption and usage, speculation will simply always be the norm of the day and there is nothing we can do about it.

As far as I am concerned, altcoins are just simply there for that P&D purpose which larger traders and the smart small traders have only be using to increase their stash, which is why I have always believed altcoins to just be a distraction.

[Altcoins enthusiast]

When it came to Tom Lee, nothing negative would convince him from abandoning his end of the year prediction of bitcoin reaching $20k - $25k. A new high.

In this article, he was quoted singing a different tune. Has our bitcoin bull transformed into a bitcoin bagholder? The psychological change is very clear. He is also human after all hehehe.

In any case, I agree in his new sentiment. It might be a perfect time to start buying again.



Bitcoin is not dead, and the best investment opportunities arise when the picture is not bright. This is how Tom Lee, Co-founder of Fundstrat and expert analyst of the crypto markets thinks.

According to Lee, the current value of Bitcoin represents an excellent buying opportunity, and it would be a mistake to miss the train:

“The question you have to ask yourselves is, ‘Now that crypto is down here, is it appropriate to be bullish or bearish?’ And I just want to absolutely point out it is a mistake to be bearish when you’re already down. This is like looking at stocks in December 2008 and deciding you wanted to become secularly bearish, even though the bear market was ending.”

“So I think the bear market has largely run its course in crypto, and it’s been healthy. It’s been resetting capital. It’s resetting investor expectations. But most importantly, the only time you can really make money in a big way is to buy when investors aren’t buying. That’s the real opportunity."

Read in full https://ethereumworldnews.com/tom-lee-mistake-bearish-when-youre-down/

I agree with Lee on this and the current level in bitcoin create opportunity for investors.  Bitcoin is going to grow to $25000 but this year may not be the time and this might happen in some years to come. 

[BitHodler]

price is currently stable and looks more like a solid accumulation phase just like the couple of prolonged accumulation phases that bitcoin had in the past after each of its bubbles. each of which eventually led to a bigger rise.

People not accumulating right now will definitely regret not having done so once the price starts to move up further and further. People only know what they missed out on when the opportunity is no longer there.

On the other hand, people not accumulating right now will fomo buy when they finally realize that it may be the last time they can buy at lower levels, which could function as fuel for the next leg up.

I'm ready to see threads pop up asking whether or not it's too late to buy Bitcoin at $10,000 or $15,000. Was funny how people were asking the same when we hit the $1000 mark again at the end of the previous bear market.

I don't have to tell anyone what happened after that.

[pitiflin]

LOL. Are you serious dude? That's not Tom Lee of Fundstrat, rather Tommy Lee Jones the Hollywood Actor. I don't know if you are trolling us, but it made my day. 

You know, the Tom Lee in the OP looks more original than the real Tom Lee that we are talking about. The real Tom Lee looks like a fat hipster who took Engineering because it sounded cool back then.

Anyhow, I don't really think Tom Lee has become a bag holder, yet, chances are that he might or he might not. But probably before you know it, he'll back as a bitcoin bull, it's the old fuck we are talking about (the picture in the OP  ).

[bbc.reporter]

Just because someone bought from high prices doesn't make him a bagholder, he can drop his averages down from buying more which as a rich person he can definitely worth doing it and probably doing it plus being behind a project means being behind it on bad days as well as good days. I have been here for over 5 years now and I am supporting bitcoin from highs and lows and really don't care where the price is going and I will still be here.

If you are not supporting bitcoin because the price went down than you are not supporting bitcoin at all and just trying to make money for yourself. Which makes you the bad people bitcoin was invented against.

That is what a bagholder would say hehehe. Bagholders say things because they are so sure that their coin will make the new highs again even if the price today is saying that there is a possibility that it might not occur.

I might appear that I am teasing you, but we should be honest with ourselves. We are taking a risk, nothing is certain.

that is stating the obvious, nothing is certain and we are taking a risk but we are talking about chances and potentials. unless you think bitcoin's potential has just ran out and the adoption has hit a brick wall and stopped there is no reason to believe price isn't going to rise up.
and the current price is not giving us any reason to believe otherwise. price is currently stable and looks more like a solid accumulation phase just like the couple of prolonged accumulation phases that bitcoin had in the past after each of its bubbles. each of which eventually led to a bigger rise.

Agreed, until there is another dump. Then we would need to adjust our estimates again and set our expectations lower.

Also, before the year ends, what would that say about Tom Lee if bitcoin does not move up on top of $10,000? Was he lying, was he naive or is he a bagholder? hehehehe

[chickenado]

Just because someone bought from high prices doesn't make him a bagholder, he can drop his averages down from buying more which as a rich person he can definitely worth doing it and probably doing it plus being behind a project means being behind it on bad days as well as good days. I have been here for over 5 years now and I am supporting bitcoin from highs and lows and really don't care where the price is going and I will still be here.

If you are not supporting bitcoin because the price went down than you are not supporting bitcoin at all and just trying to make money for yourself. Which makes you the bad people bitcoin was invented against.

That is what a bagholder would say hehehe. Bagholders say things because they are so sure that their coin will make the new highs again even if the price today is saying that there is a possibility that it might not occur.

I might appear that I am teasing you, but we should be honest with ourselves. We are taking a risk, nothing is certain.

that is stating the obvious, nothing is certain and we are taking a risk but we are talking about chances and potentials. unless you think bitcoin's potential has just ran out and the adoption has hit a brick wall and stopped there is no reason to believe price isn't going to rise up.
and the current price is not giving us any reason to believe otherwise. price is currently stable and looks more like a solid accumulation phase just like the couple of prolonged accumulation phases that bitcoin had in the past after each of its bubbles. each of which eventually led to a bigger rise.

Agreed, until there is another dump. Then we would need to adjust our estimates again and set our expectations lower.

Also, before the year ends, what would that say about Tom Lee if bitcoin does not move up on top of $10,000? Was he lying, was he naive or is he a bagholder? hehehehe

As we all know people's who are always positive and risk taker will  always successful in business or any other undertaking. Tom Lee predictions as I looked at it is still achievable because as we know bitcoins price is very volatile anything can happen from bearish to bullish if Tom Lee is very positive enough then he had foreseen a possible scenario that is why he had predicted.

[deisik]

According to Lee, the current value of Bitcoin represents an excellent buying opportunity, and it would be a mistake to miss the train:

“The question you have to ask yourselves is, ‘Now that crypto is down here, is it appropriate to be bullish or bearish?’ And I just want to absolutely point out it is a mistake to be bearish when you’re already down. This is like looking at stocks in December 2008 and deciding you wanted to become secularly bearish, even though the bear market was ending.”

“So I think the bear market has largely run its course in crypto, and it’s been healthy. It’s been resetting capital. It’s resetting investor expectations. But most importantly, the only time you can really make money in a big way is to buy when investors aren’t buying. That’s the real opportunity."

Healthy? There's no such thing in purely speculative markets

His "resetting capital" in practice means that people are moving money from altcoins to Bitcoin, and that explains why the former had been falling off the cliff when the latter remained stable, give or take a few hundred dollars. When the reshuffle of money is over, which we may already be close to, Bitcoin may start to fall again as it runs out of the fuel and support that the crash of altcoins provided. This is a real possibility, and there is no bottom like in, for example, commodity markets

[Ewinsane]

As we all know people's who are always positive and risk taker will  always successful in business or any other undertaking. Tom Lee predictions as I looked at it is still achievable because as we know bitcoins price is very volatile anything can happen from bearish to bullish if Tom Lee is very positive enough then he had foreseen a possible scenario that is why he had predicted.

I have seen Tom Lee even made reasonable deductions and conclusions before and even in as much as I do not like people who think they can tell you what the future holds, what he has said is more realistic if the market moves in a short term upwards.

It is not bad to even be optimistic anyway and if all things being equal we would get to see some pretty good movement even in the long run. You only be a bag holder if you know what you are holding does not have great value in the future, and as far as I am concerned, bitcoin is the real deal.

[barbara44]

Just because someone bought from high prices doesn't make him a bagholder, he can drop his averages down from buying more which as a rich person he can definitely worth doing it and probably doing it plus being behind a project means being behind it on bad days as well as good days. I have been here for over 5 years now and I am supporting bitcoin from highs and lows and really don't care where the price is going and I will still be here.

If you are not supporting bitcoin because the price went down than you are not supporting bitcoin at all and just trying to make money for yourself. Which makes you the bad people bitcoin was invented against.

That is what a bagholder would say hehehe. Bagholders say things because they are so sure that their coin will make the new highs again even if the price today is saying that there is a possibility that it might not occur.

I might appear that I am teasing you, but we should be honest with ourselves. We are taking a risk, nothing is certain.

that is stating the obvious, nothing is certain and we are taking a risk but we are talking about chances and potentials. unless you think bitcoin's potential has just ran out and the adoption has hit a brick wall and stopped there is no reason to believe price isn't going to rise up.
and the current price is not giving us any reason to believe otherwise. price is currently stable and looks more like a solid accumulation phase just like the couple of prolonged accumulation phases that bitcoin had in the past after each of its bubbles. each of which eventually led to a bigger rise.

Agreed, until there is another dump. Then we would need to adjust our estimates again and set our expectations lower.

Also, before the year ends, what would that say about Tom Lee if bitcoin does not move up on top of $10,000? Was he lying, was he naive or is he a bagholder? hehehehe

let the man be! He is just really speculating anyway and there is no harm in that, and it is not like his speculation is not reasonable, at least a lot better than those who are calling new ATH before the end of December. The thing is that we all cannot know what the market holds and surely I am certain Tom would come with another excuse if the price eventually does not get up to $10k by the end of the year but all the same, looking at the way things are presently, there could be a chance based on however the market tend towards before the end of the year, either upward breakout or downward breakout from the descending triangle.