GEORGE GAMMON Bitcoin Analysis, and warning about Bitcoin CULT like followers

[HardFacts]

George Gammon is not Anti Bitcoin, he has owned and invested in Bitcoin for years...  George Gammon has a very large following on both YouTube and twitter as a financial and economic expert.  That being said, George just made a very important analysis Bitcoin and of the Bitcoin pumping crowd and their behavior.  You can see it on YouTube in the link below.

FACT:  Last year near Bitcoins 68,000 dollar high, almost EVERYONE in the Bitcoin community was predicting that Bitcoin would go to 100,000 dollars and higher by the end of the year....

Anyone that urged CAUTION in purchasing Bitcoin after such a fast and large runup to 60,000+ was ridiculed and attacked.  In the end Bitcoin believers used the same old, tired, worn out response that is always used to attack unwelcome information about Bitcoin:  That George and others just  "did not understand " bitcoin.

BOTTOM LINE:  Do NOT listen to anyone that was so very wrong in their predictions last year.  GO BACK and read people here were saying near Bitcoins highs before you take their advice now.

https://www.youtube.com/watch?v=N5qswjJvLPg

[Kemarit]

Nothing has change though, when Bitcoin hits almost $20,000 in 2017, everyone was talking about $50,000. And just like what you said, from a all time high of $69,000 to a predicted $100,000 in December 2022, (S2F model). So it's a cycle, I'm not sure about the Cult like following though, maybe that how it is since BTC is the prime mover, just saying.

[mk4]

BOTTOM LINE:  Do NOT listen to anyone that was so very wrong in their predictions last year.

Or.. don't listen to literally anyone concerning price predictions and just quietly dollar-cost average in. Even if you managed to buy in at the top, chances are, it's going to reach back at those prices after a few years. It's really not that complicated.

[Edi agung Purwanto]

BOTTOM LINE:  Do NOT listen to anyone that was so very wrong in their predictions last year.

Or.. don't listen to literally anyone concerning price predictions and just quietly dollar-cost average in. Even if you managed to buy in at the top, chances are, it's going to reach back at those prices after a few years. It's really not that complicated.

[franky1]

buy low sell high was the main moto.. in the last few years

i havnt heard much of the FOMO stuff of buy on the high since pre 2017

[Rruchi man]

BOTTOM LINE:  Do NOT listen to anyone that was so very wrong in their predictions last year.  GO BACK and read people here were saying near Bitcoins highs before you take their advice now.

Bottom line for me is, be careful who you listen to, because in truth if you decide to consider anyone based on their predictions from last year, you may miss it. Some of the persons who were even right last year, were not sure of their predictions and maybe just decided to say something different from others. It is always important to know things for yourself so you don't have  to always depend on what others say.

The person's who were right last year may not be right this year,  you have to be careful.

[DaveF]

Meh, most people I speak to about BTC never really believed it would hit $100k or if it did it would not stay there for any amount of time before falling again.
As others keep saying, it's a cycle and every time it gets to new highs.
Also makes you wonder how many people are now out so to speak. I know of one. He mined and spent a bunch over the years and had a 50BTC solo mined block from the early days. Sold at $60k gave 1/3 to the govt for taxes and is now just working to work, not because he needs to.

I can see people wanting to be like him fueling the next bull run. Except instead of getting it for the low cost of mining, they are buying in at $20k and hoping in 10 years to get out at some stupid high number. We will never see them here, they will not talk about it. Just buy and wait. Not a cult, just a financial decision.

-Dave

[ultrloa]

The risk is to high for people believing on someone's opinion because for sure they will be caught off guard for believing that bitcoin might go to $100,000 while in reality bitcoin over pump for the past couple of months so I guess that already a green flag for the holders to sell because history already repeat itself just like what happen on year 2018, so if another like this will happen especially on next bull run maybe we need to be prepare on another dump since once new ATH achieve for sure a huge dump will follow.