Are people buying BTC @ $27000+ idiots?

[Twinkledoe]

I wouldn't call them idiots. It is absolutely normal for them to buy at the any price bitcoin might be. I know it's the same for them just as it was when bitcoin was $4000. Everyone who bought bitcoin at $4000, its peak price then, must have bought it with the hopes of bitcoin getting even higher in price.
I believe those who buy now are buying with the hopes that bitcoin will be higher in price than what it is now.
Although, those that bough at $4000 are already in so much profit now, I do not think it's too late to get on the moving train to get the most of bitcoin.

Yes, you can't blame those people for jumping on this price. Because a lot of us believe that bitcoin will still go up as adoption is going strong and a lot of investors are still buying bitcoin. I won't call them idiots either. If in case btc will reach 30k, are you still gonna call them idiots? I don't think so. So right now, if you can afford to buy, why not? Everyone is free to join this market.

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[1715344071]

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[hahay]

When an investor or someone believes the price of bitcoin will continue to break through the top, then buying at that price will be fine because after all, they have money to invest in so there is nothing wrong with their decision. The price is high, but that doesn't mean someone has to buy exactly the same amount so it comes back to your own abilities because currently bitcoin has become a strong magnet but there are still many out there who prefer to buy other cryptos that still have cheaper prices.

[harizen]

Same with the question during the price before that considered as "high" e.g buying @ $4,000, @ $ 5,000, @$10,000 are all idiots?

Regrets really happened and no one to blame as no one knows what will happen in the future.

If you really believe that the current price is not the highest possible price that bitcoin can reach, you can disregard any price level to make an entry. Patience is the key. However, if you think that price will soon crash before attempting to buy, then it's on your own call.

[Altcoinsintel]

It is not a very rational decision to buy right now. No trader and no person with even limited financial knowledge would ever suggest to buy any asset after looking at this chart.
In fact if you were a trader at a bank they would fire you if you bought at $27,000. Of course they would wait for the outcome first but the risk is stupidly high to buy right now.
Can price of Bitcoin rise more? Of course but those that buy now do not seem to care a lot about the price.

The price looks like it was artificially pumped into $28000. Those that bought either have a plan or were in need to buy Bitcoin so high.

[2double0]

OP, nice try to provoke others to dump btc by selling it, but it is not the retail investor this time who just pushed it higher and ended dumping it over 80%, these are huge institutions and they have been accumulating since the first bubble bursted but this bubble will be very huge this time so if anybody buys it right now, they still have the chance to withdraw some profits or break-even even if the price plunges.

[Upgrade00]

It is not a very rational decision to buy right now. No trader and no person with even limited financial knowledge would ever suggest to buy any asset after looking at this chart.

Do you think it would be more rational to wait for a dip and possibly end up seeing the price climb higher than it is?
If you want to put the chart in perspective, zoom out and look at significant price changes over the last years; what many thought to have been major spikes were just minor price changes with the price going much higher. That's likely the case here as well, the market is yet to fully rally and there's still so much room for growth in this cycle.

In fact if you were a trader at a bank they would fire you if you bought at $27,000. Of course they would wait for the outcome first but the risk is stupidly high to buy right now.

Banks do not exactly set the best precedent.

[MCobian]

I don't agree with the opinion that says buying Bitcoin now is stupid, because if you are used to buying and holding Bitcoin for the long term.
So buying Bitcoin now is a good thing to do, because the Bitcoin movement will continue to go up. Try to do your research properly before arguing,
I have studied the movement of Bitcoin since 2016, know that to get profit from Bitcoin we must have patience. Without patience maybe buying
Bitcoin at its current price is a bad decision to make.

[coinycoiny]

If you buy as an investment, anything over a cent makes you an idiot.

Of course, if you think there are bigger idiots behind you then buy at whatever price you want.

[Fatunad]

Could have bought it in March this year for sub $4000.

Downside risk is much greater now than it was earlier this year.

Is it the mentally challenged that are getting fleeced right now.

One of common acts of people is on where they do buy into this current price rather than into those times where everything is on red or do came from a crash.

I cant blame them though because hesitance and doubts would be there, presuming or have in mind that the market might go worst even more but if we do really
like to risk out then we would most like to consider on investing or accumulating while its cheap.

Its too late to regret on not to enter those times but still there are lots of opportunities for you to enter.

[nelson4lov]

Could have bought it in March this year for sub $4000.

Downside risk is much greater now than it was earlier this year.

Is it the mentally challenged that are getting fleeced right now.

The thing is that people are only interested in Bitcoin when it is trending on almost all media sites. Having been in crypto during the epic bull run in 2017 and the dump that followed after in 2018 and 2019, I would say that market cycles would always repeat itself and people, though aged older will keep making the same mistakes. It's happening just like it did in 2017, everyone is talking about buying Bitcoin, where to invest and what's not but they won't do the same when markets goes down and when portfolios are being capitulated.

[Fredomago]

I don't agree with the opinion that says buying Bitcoin now is stupid, because if you are used to buying and holding Bitcoin for the long term.
So buying Bitcoin now is a good thing to do, because the Bitcoin movement will continue to go up.

We can't assure that but chances is high that Bitcoin will continue to rise, there are lots of new investors that also showing interest
to this investment venue, if you are aiming for long term any position you take still have chance of getting profits.

Try to do your research properly before arguing, I have studied the movement of Bitcoin since 2016, know that to get profit from Bitcoin we must have patience.

It's very important to always do your research before doing anything, with proper knowledge the chance of succeeding i much possible to
achieved.

Without patience maybe buying Bitcoin at its current price is a bad decision to make.

Correct patience is very useful, combine patience with your knowledge will gives you room to enhance and learn the process the right way.

[WinBitcoins.Casino]

Most likely they are not idiots as this phase of Bitcoin can be considered as its initial adoption phase. Just like the shares of a company are yet to be released.

Once Bitcoin is adopted by most of the population, it will be much higher in value. It might need several upgrades to do cost cutting in transaction fees though.

[7788bitcoin]

OP, nice try to provoke others to dump btc by selling it, but it is not the retail investor this time who just pushed it higher and ended dumping it over 80%, these are huge institutions and they have been accumulating since the first bubble bursted but this bubble will be very huge this time so if anybody buys it right now, they still have the chance to withdraw some profits or break-even even if the price plunges.

Even if the OP wants to FOMO no one would listen as you mentioned these investments are from huge financial institutions and they are investing heavily for a long time and recently we had seen many similar news where some companies are moving their assets to bitcoin and all these culmination of things is moving the price to new levels every trading day and how long this bubble will last is to be seen.

@OP if anyone is investing in bitcoin taking a huge loan or using credit card then it is a foolish investment other than that the cycle will take the price well above $35k.

[acener]

Could have bought it in March this year for sub $4000.

Downside risk is much greater now than it was earlier this year.

Is it the mentally challenged that are getting fleeced right now.

We shouldn't judge them by their choice of when they want to invest.
Would you call those who invested in the past ATH idiots when they have hold it till they gain profit?
We don't know how much it could go up or down after we invested it is just the same for them.

[Zilberia]

No, these people are not idiots at all. I think you will definitely get some profit even if you bought bitcoin for 27k. This asset showing us one of the best price growing dynamics in 2020 so I'm pretty sure it will get higher in a few months so you will buy a profit.

[veznata]

it's never been a bad idea if we look back in the past. of course if you intent to hold for long time you will be a winner....in this case you will have to hold for a shorter time since we already started the next bullrun. we will probably see 100K or near so bear in mind that even the lowest price fall after that bullrun may and probably be above todays price (27K). of course you may buy it at better price but waiting for 1-2K dips now and then doesn't worth the risk to miss the train. as for those who mined and bought in 2010-11 most of them sold it for pennies or lost it while all the others who spent hard earned money to buy bitcoins and after that keep their coins will benefit most. Remember if whenever sell high than always after that find some price bottom (as much as possible) to buy back bitcoins and never leave the game!

[CarnagexD]

In the words of a wise man, "the best time to invest is 10 years ago. The second best is now." So don't ridicule them just because they got in here later than us. If anything, we are like them in the past. Only we have been there far too early for the market to move, and so we reaped the benefits. Don't call them idiots or anything. Instead cheer them up and tell them to do what we did so they can earn as well.

[chanler]

You cannot judge it 'idiot' till you know what to happen later. No one really knows what to happen in the next few months, it is just your bet to buy or not. As long as they buy for the short-term goal, it isn't an idiot way I think. The Bitcoin price still has a chance to rise up more, even some experts state that Bitcoin price can reach $30K. Of course, it is very risky to buy at the bullish trend, but the risk isn't impossible to result in big earnings.

Do it with your own risk!

[bayu7adi]

no, some of them think that the price of 27k is still cheap, so that it is still very profitable.
we still have time to fly BTC even higher, while there are still people who need BTC then the current price is still cheap and can go up 100% at any time

[TravelMug]

Could have bought it in March this year for sub $4000.

Downside risk is much greater now than it was earlier this year.

Is it the mentally challenged that are getting fleeced right now.

This kind of mentality will bring you nowhere, Lol, tell that to people who thought that bitcoin was expensive @1k in early 2017, or @5k mid 2017. If you are going to just HODL on your bitcoin, history dictates that it has a chance to go even further in the next 2 years.

Of course you argue that the exponential growth will slow down, yes I agree with that, however, you can still make money when the price hits $50k or even $100k in the future.