Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I see some people are talking about bears and bulls? What the heck does this have to do with bitcoin anyhow? I'm a total newb by the way....
In stocks there are "bear markets" and "bull markets."
For an over simplified description:
Bears are pessimists
Bulls are optimists
Bears believe the price is going down
Bulls believe the price is going up
Why anyone who is involved with BTC enjoys being a "bear" is beyond my understanding. Sure, bear markets are a part of the cycle but I would think logically being a long term "bull" makes more sense.
Because it is the way you make money in a bear market like this one for 16 months?
Follow the trend and make money. Don't fight against it.
I get that. Taking advantage of the trend is smart, if you have the ability to do so. But when the price starts to swing the other direction do these same people become "bulls" or do they just stay "bears?" I have respect for those that are bears in a bear market and bulls in a bull market and have the wisdom to see which market we are actually in!
Of course they become bulls but lets not forget we're in an overall 15 month long downtrend. Each time making lower highs. $315 was the top of the "coinbase pump" if we go down from here its still a bear market imo after not convincingly breaking $300 and retesting the previous bottom is not out of the question. Anyone who tells you thats impossible are the same people saying we could never go below
Like I said, not everyone has the wisdom to see what kind of market we are in. Some of us, myself included, have tried trading and realize that we totally suck at it. I haven't lost anything thankfully, mostly because I actually listened to my husband and we sold some off when the price was higher. We then bought some back at a lower price and are now in the "green" but I feel like to trade would not be wise for me to do because I am just not very good at guessing which direction we are moving. If I believe the price is going to go up long-term, which I do, then holding long-term is less risky for someone like me. Hence why I am a long-term bull.
