Are people buying BTC @ $27000+ idiots?

[NorrisK]

The more mature a market becomes the "safer" it is to enter. People that thought the market was not ready at 4k may think its good to go in now.

This is what you see with the big institutions as well. They need liquidity to put their massive funds into it. The higher the price, the more room there is to buy big.

[lepbagong]

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.

What do you say that according to Plan B there will be an increase from the current one, in fact I see from the halving between the first and second that the% is quite significant, so I conclude that next year there will be renewable ATH again and maybe fantasitic.
so for those who want to invest in bitcoin there is nothing wrong as long as you have sufficient funds because the price will continue to increase until next year, not only until the end of this year.

[bryant.coleman]

The more mature a market becomes the "safer" it is to enter. People that thought the market was not ready at 4k may think its good to go in now.
This is what you see with the big institutions as well. They need liquidity to put their massive funds into it. The higher the price, the more room there is to buy big.

The institutional investors have mopped up a lot of the available supply during the last few months. This is beneficial for the other investors, because these investments reduce the overall volatility. Institutional investors such as Grayscale are unlikely to dump their coins, and this means that the chances of a price crash gets lower. Also, these investors can be expected to store their coins more securely when compared to the institutional investors. A lot many times, corrections occur when hackers dump their stolen BTC in to the market. 

[amishmanish]

This is the first time that BTC is being bought in such large quantities by institutional buyers in a very public way.

The risk is still there but the upside is plenty for those who will invest as per their appetite and won't just FOMO. 2021 will see the Democrats back who love to keep a lid on things like privacy and anonymity. There could be a lot of virtue signalling coming Bitcoin's way. Then there is the uncertainty about stablecoins like Tether and how the SEC is going to treat them.

None of those things have changed for bitcoin. Only the price has changed. It was a worthy but risky buy at 4000 and is still so at 27K. People who are buying now, if they have deep enough pockets then they are not idiots.

27K is a lot for people like us stacking sats. Those who suddenly find that BTC is an opportunity not to be missed will easily throw 1-2 BTC worth into the market to get a jump over the like of us. The rich like to stay ahead. They are arriving in greater numbers than ever before. I think only those who will invest beyond their ability are the idiots. For the rest, its just an opportunity.

[Bitcoin-Pro]

I buy bitcoin when there is no good news.
I sold all my bitcoins after i heard many good news and FOMO in price  
Waiting to buy bitcoin again when all these good news disappear.

[acroman08]

Are people buying BTC @ $27000+ idiots?|

to answer your title, NO. this could have been said to people who bought bitcoin when it first reached $1000

investing in something even if it cost so much is not idiocy it will only become one if you are investing in it without knowing anything about it.

[alevlaslo]

56000 will be

https://bitcointalk.org/index.php?topic=1006631.msg54213860#msg54213860

[Bitcoin-Pro]

i'm old Bitcoin user, since it was ~$250
i used Bitcoin, and recently Litecoin, i can say Litecoin is much much much better than Bitcoin. and most similar to Bitcoin.

I used to buy cheap $20~$50 products using Bitcoin, years before things was very good, fees was low and i wasn't feel it's slow.
But recently and after i used Litecoin, i can say Bitcoin is the shitcoin. it has large fees and actually slow.
We can't stay blind and say Bitcoin is the best. Bitcoin is now is like old phone or old typewriter. We have now many crypto coins we can call it at least better.

I was holder for Bitcoin and Litecoin since long time. now i'm out from all crypto till i see how things goes.
I don't know why i have feeling all crypto will fall, but in total, Litecoin will has better future than Bitcoin.

Currently all crypto now are overpriced, and we should see fall in prices as long as there is no much increase in bitcoin difficulty in the recent days.

[Smartprofit]

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.

I don't think people buying $ 29,000 bitcoins are idiots.  Their actions are quite rational.  They may have made big profits in 2019-20 by buying stocks.  Now they want to lock in their profits.  Taking profits in fiat currencies (such as US dollars or euros) is not very reliable.  After all, the issue of these currencies is virtually uncontrolled. 

Bitcoin is a deflationary asset.  With its growth in 2020, it has proven its reliability to everyone.  Satoshi Nakamoto created Bitcoin for just such situations. 

Bitcoin was created to counter the global economic crisis.  He copes with this task very well.

[shivamtrivedi9090]

Calling those people idiots is not the right thing. As all of us know that the bitcoin price is rising continuously. It just that those people believe in Bitcoin's potential and may able to manage the risk.
Definitely, those people have some sound future planning. An ordinary person with lower financial sources can't do that kind of dare. Maybe they are investors, high net worth individuals, big companies, and traders who want to get profits in a short time or for the long term.

[mindrust]

Same as always. Somebody has to buy it from these prices so it can go higher...

But there is another explanation which makes even more sense.

It is not the average Joe's that's buying right now I know that much.

I know it because I am an average Joe. 

[Awalt541]

You’re totally wrong, I dont want spit on you... but you much thing twice about what is bitcoin will be.
They’re not idiots, they are lucky cause got treasure for future.
ATH for lately is not last of bitcoin end. There’s will be more ATH for bitcoins.

You are funny one, spit on bitcoin then assuming are shit coins, means you still here then lickin’ the shit here. 

[kingplaya4]

It depends. Is it Joe Six Pack in America who just heard about on CNBC has carefully saved up 400k in savings and put it all into BTC at 28k? I would say that's foolish, although a gamble that might work out, but only if he can bear possibly seeing his net worth plunge by 75% before rising again. Is Joe Six Pack going to start buying BTC every month with extra savings? Then it doesn't really matter if he started out now or waits for it to come down 30% or whatever people are expecting. I have known about BTC since it was 300 bucks and learned how to buy it at that time. In theory I should have hundreds of coins, but I don't. It's probably for the best that I didn't because all I would have is regret anyways. My original account was hacked and everything taken by some dude in Turkey (or at least that is where the trail ended). My fault for not securing my account better. At least today's buyers have better security and more liquidity if needed.

[Dsdaq]

Some people will even buy at 30K, but that depends on individual perspective, knowledge and understanding of the market as well as the believe that the price will increase upwards. But for me I will observe btc at 30K to see how things will unfold.

[Smartvirus]

Buying Bitcoin at what ever price doesn't make any one foolish or an idiot. It's simply a perspective thing based on personal observation and analysis. Where others think and stop could be where the next persons line of thought begins.
Where you see failure or danger is where someone else sees opportunity that needs exploiting. It's simply individual difference and the end always determines how well the means to the end has been. I don't know what price is best but, buy Bitcoin when your comfortable at a given price. Too much procastination never yeilds any good result and be sure to make the right analysis as well.

[jetbird]

The landscape has changed. Institutions/deep pockets are the primary driver of price. People applying the usual playbook will be proved wrong. Shallow pullbacks until we get to much higher levels will be the norm for a while. Any major pullback will be short lived. They see where this will ultimately go, and have the patience to wait for it.

[Asuspawer09]

Some people will even buy at 30K, but that depends on individual perspective, knowledge and understanding of the market as well as the believe that the price will increase upwards. But for me I will observe btc at 30K to see how things will unfold.

Even what market price it is still worth it to buy bitcoin if you're investing it for a long-term investment, but for sure it's always better if your gonna buy at a lower market price because that just means it's a bigger profit.

Some use it as a strategy where they always invest in bitcoin all the time but just a small percentage of capital because they just believed that overall the cryptocurrency bitcoin will be the number one currency.

Personally, I'm surprised that bitcoin is still pumping in the market and almost reaching the 30,000k$, I already sell my bitcoin and hoping to reinvest in the future when the market price drop again.

[Karma24]

Buying bitcoin at an all time high is def not the move unless you're a long term holder (then maybe it could make sense but still..) the best thing you can do now is to wait it out usually the bull run  ends somewhere in january then the price will drop again (aka the bubble bursts) like what happened in the 2017/2018 bubble.

[hatshepsut93]

Buying bitcoin at an all time high is def not the move unless you're a long term holder (then maybe it could make sense but still..) the best thing you can do now is to wait it out usually the bull run  ends somewhere in january then the price will drop again (aka the bubble bursts) like what happened in the 2017/2018 bubble.

For majority of its existence Bitcoin was at all time high. This logic of "never buying at ATH" prevented millions of people from buying at $1 or $100 or $1,000. The only time where you shouldn't buy is the top of a bubble, which is not the same as ATH. No one can say that right now we're experiencing the peak of a bubble - it could be true, but it could also be just the beginning of a long bull run. This isn't the greatest time to buy Bitcoin, but it's also not a horrible time.

[Sithara007]

Buying bitcoin at an all time high is def not the move unless you're a long term holder (then maybe it could make sense but still..) the best thing you can do now is to wait it out usually the bull run  ends somewhere in january then the price will drop again (aka the bubble bursts) like what happened in the 2017/2018 bubble.

You can't term the current prices as "All Time High (ATH)" unless you are sure that the rally is over. That is not the case, as we expect the rally to last for at least a few more months. So basically, those who are making the purchase now are not buying the coins at ATH levels. There is a real chance that the exchange rate may go much higher than the current levels and you may never get an opportunity again to purchase coins at sub-30K levels.