Are you not afraid that you misread the bitcoin market ? In my opinion very few weak hands are left and most of the coins that are held now are bought either before the rally in the end of 2013 or shortly before and after the crash to 150$. That means most of the people are still(surprisingly) or almost in the green, even the people that joined after the November 2013 rally and timed their buys not in an amateurish way. Could it be that bitcoin is too small for such strong macroeconomic effects to have this impact ?
In the end most of the current holders are bulls that value their coins much higher than the current price, at least that is what i assume. Maybe i am naive.
Edit: I am fucking tempted to sell a small portion if it gets up again over 300$, just in case you are correct.
Some diversification doesn't hurt. Even if you lose some BTC, you didn't lose value in dollars which is the real world for now any way.
Fighting against ingrained ideological delusion is important for rational investing. Hey I think crypto-currency has a lot of upside, but I am not married to anything like the looney ideologs who hatetard on any injection of alternatives to their to-the-moon psychosis. I try to look rationally at the situation and hedge according to appraisals of probabilities.
To your specific point, I doubt anyone has been buying BTC who wasn't doubling down on past mistakes of buying too high. Those who bought $10 or below have their fill and have been diversifying some to buy castles and Ferrari's. The mass media has not been pushing Bitcoin lately. Why would newbies be buying?
Newcomers buying for use reasons, e.g. money transfers or to buy goods anonymous, would instead only buy what they need to spend.
The greater fools don't buy low, so why would they be rushing in now in a declining market with bad press?
The capitulation of the diehards, who finally short at the bottom is how we reach a bottom. I have to see inca cry uncle or disappear, then I know we are at the bottom.
I believe what is happening now is the destruction of all the hatetards. So I am advising those who want to come out the other side. But I could be wrong? (not likely)
You are talking to yourself and talk is cheap. Post evidence of your own skin in the game or shuffle off.
I would repeat caution to anyone reading this. Any form of leverage is an extremely good way of losing all your capital. Those who have actually been in the markets or traded with any degree of risk management or attempted capital preservation know this too well.