Are people buying BTC @ $27000+ idiots?

[Rodeo02]

Now how much confidence do you have to survive in the long term?
believe everyone who buys over $ 27k is a big risk taker who believes bitcoin price will increase over time.
sometimes a fool is better off waiting without doing anything and hoping the price drops below $ 20k just buying, but after $ 20k he doesn't dare.

No one can say if those people who entered in that price is in danger to lose their money or it's a good entry for new highs of BTC. If the price continue to increase then its good for them even it's too late if the price continue to increase it's still profit for them. But if the big correction come after this then they can regret that in his life and he need to wait more longer just to get back the amount that he can lost now.

Risky but if you are looking for term it can still be profitable what ever the price you bought it.

[hannahB4]

I know some people will be skeptical about buying bitcoin at this rate but if we do our research well some risk takers and investment lovers will go for it because the future is brighter for Bitcoin.

[Yatsan]

Those people who dares to buy Bitcoin at the price peak of $27,000 is not considerable to be called as idiots. They are somewhat called to be risk takers for they are taking the risks associated on getting engage obtaining Bitcoin at the price like this compared to they must have invested with Bitcoin when the price dumps at the month of March at this year. Those people who are buying and investing into Bitcoin even at its price peak are high risk takers and strong believers that Bitcoin can still be up for some more surprise of rising its price even more which is what they are waiting to make happen. Being a risk taker on entering at this phase of Bitcoin's price peak is not being idiotic. You are just taking a high risk that can still be worthy if you will just believe and have strong patience about it.

[menoiazei]

It’s the start of the next bull cycle, do your research. Sure people buying now won’t make as much profit as somebody who bought in March but even buying now it’s likely they’ll make at least 2 or 3 x what they invest now by late 2021.

As somebody who’s been constantly buying & HODLING (selling nothing) since 2014, there is never a bad time to buy bitcoin if you have patience.

Look at a chart from all the way back since the first block was mined, what do you see? Long term, exponential, upwards price trajectory. Sure we have bull markets followed by harsh bear markets but the long term trend is always up. An asset that has its supply cut in half every 4 years demands price growth.

It’s simple math & science -

Time = upwards price trajectory

Therefore no, people buying now are not idiots. The idiots are the NOCOINERS with no BTC.

100%

Very nicely put and hat off to you sir!

[Altcoinsintel]

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.

Right I am zooming out thanks. Was waiting for someone to explain trading to me in a short reply in a forum.

[Prince Malik]

This way we can also say about the people who bought bitcoin at 20k in 2017 idiots but you can see now that they already start making profits and this is what we called the long term investment...you are right maybe its not the good time for short term investors because bitcoin can have some corections in the incoming days but long term investors never think this way and i also believe that as long as bitcoin price didnt reach 100k$ everytime is the right time to buy bitcoin

[Zionatin]

I had to sell during march I am so angry. I might have had over half a bitcoin now. I also made a bad investment in someone 2 years ago that cost me bitcoin. I only made 1/3 of my investment back - the time spent.
I guess I am not alone? Please tell me I am not alone?

Anyone else going through something like I am?

[Wysi]

I think you have no idea about Bitcoin, I would suggest you to check the Bitcoin's history then you will realise who is wrong. What if Bitcoin reaches $50k? When Bitcoin was new there would have been many users liek you who would have called people crazy for investing into Bitcoin even when it was $100, but now will you be able to buy Bitcoin for same $100? Do proper research before using strong words.

[Altcoinsintel]

I had to sell during march I am so angry. I might have had over half a bitcoin now. I also made a bad investment in someone 2 years ago that cost me bitcoin. I only made 1/3 of my investment back - the time spent.
I guess I am not alone? Please tell me I am not alone?

Anyone else going through something like I am?

Be focused and you will make it back. Ask everyone and they will tell you they sold too early and too low during different times. It doesn't matter that you sold or how much you would have, if you sold during the dip in March it means you had to do that and you needed the cash. It is sad you got scammed and you are not alone. I wasn't scammed but it was close one time. You can say that we are all scammed by the altcoins that never made ATH again and are still 90% lower from there. You can also say that most in crypto were scammed by Ripple and will never get their money back. There are many that we don't treat as scams but they are.

[pixie85]

OP, I can't say if you're amazed at people's choices or angry that your own weren't better.

People are buying at every level and selling at every level, this is how the market operates.

They could have bought at 4, 5, 6, 7, 8, thousand and... they won't have another chance to do it. We will probably never see sub 10 000 again. Does it mean you shouldn't buy it ever and keep watching from the sidelines as it goes up? Do what you like it's your money.

[jrrsparkles]

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.

If 27000 has to be the peak then buying at 27K is stupidity but now the price crossed 28K and still on the go so even the user who bought at 27000 and still holding made some profits in no time.

[imstillthebest]

not sure if its called mentally challenge or mental illness because they dont want to take risk when the value is still small but they always stuck on that situation where they need to ask their selves again if they want to buy or not but except to those that intend to not buy before or they have a reason why they didnt buy before , it could be that they dont have money that time but they have now . they are not idiots  . my advice to the people that didnt buy before but have a money , they should buy now and practice the habit of not missing the oppurtunity .

[Crislyn4116]

OP, I can't say if you're amazed at people's choices or angry that your own weren't better.

People are buying at every level and selling at every level, this is how the market operates.

They could have bought at 4, 5, 6, 7, 8, thousand and... they won't have another chance to do it. We will probably never see sub 10 000 again. Does it mean you shouldn't buy it ever and keep watching from the sidelines as it goes up? Do what you like it's your money.

Because if it drops further than that expect another bearish cycle. Right now people can buy at every level they want, that is at their own risk. Amazingly to see cause after it hit ATH, again it sets record to new ath - back to back - for just a month. Thus, todays' bull cycle is the beginning of bullish movement. I would say it may correct a little bit to 20k, but think again. Another bullish cycle is much higher than the previous one, imo.

[Lorence.xD]

Based on my experience, it's not really wise to buy during the peak, bad idea, unless you are a long term holder who are willing to hold longer and will not panic when the price dump. We are again at the time where some people get FOMO and we can't stop them since they believe the uptrend will continue and we also don't know if it will stop, so let them do their thing and learn if they make mistakes.

I'll just wait for the dip and then start buying.

That is what my veteran friends do and advice to me when I was a fledgling in bitcoin. Buying at low and selling at high, I see that it is reasonable and I like the idea because I am a lazy person so trading isn't really my strong suit. FOMO is the biggest mistake that any newbie can make when it comes to investing in bitcoin, I get that we do not know when will the run stop but I believe that reducing your risks to almost zero is the best way to go, I agree about not letting them stop, it is their money after all.

[Fredomago]

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.

Nope those Buyers now are newly entered in Market , they are the one who makes this market standing strong now and the Idiots that your talking about are those BS whales that the target is always Making the value Low for them to buy more.
but this sets of investors now are buying because they want bitcoin and they need the technology behind this.

And believe me , What you are seeing now is just a peanut of what comes next.

[Sithara007]

Everybody knows its the start of the 4 year bull cycle, and if you're still thinking in shorting BTC then you're in for one of the worst decisions of your life. Regardless in buying at $28,000 ATH, it will still be profitable in the long term that is, if you're not a weak hand. Maybe you don't know but according to Plan B the price will reach $55,000-$100,000 if this momentum and trend keeps going to the stock to flow model.

This is the 3rd such bull run. But you need to remember that on the previous two occasions, the peak prices lasted only for 2-3 months. Back in December 2013, the exchange rates went up to $1,200 per coin, only to crash to $200 per coin when the Mt Gox exchange closed down three months later. Same thing happened in December 2017. Within 2-3 months, the prices were back to four-digits.

[skpanchal]

I think people are not buying a bitcoin right now but a institute like PayPal purchasing Bitcoin for long term hold. That's why Bitcoin price pump heavily add Bitcoin demand was increase.

[mich]

People buying Bitcoin @ $27,000 are the exact opposite of idiots they are smart.  Only a idiot would think it is not a good time to buy. 

Whenever something is big in popularity and if money is involved everyone will take notice.  This recent Bull run has definitely gained some more new attention to Bitcoin.

There are some people who I thought would never ask about Bitcoin but now want to get to know what it is about. If you can make money people are interest.

[Daltonik]

There are different opinions about the upcoming price of bitcoin, many skeptics, but there are also optimists Tone Vays predicted Bitcoin's rise to $300,000 in 2021  https://twitter.com/BitcoinMemeHub/status/1342871933688266755
 

[jaresmerel001]

It should all make a difference. In 2017, the previous bull run happened, and it's now 2020. S0, everything has changed already. If we see many adoptions on bitcoin this year, the reason for both bull runs would be different. The community is growing day by day and the use of bitcoin is increasing. In my opinion, the main difference is that the community is expanding a lot. Many individuals understand the reality of bitcoin and participate in it. That's most likely the reason why we're currently in the bull run.