Again... anyone else sees a repetitive pattern here?
I'm getting quite annoyed with all the permabulls trying to scam newbies into buying their beanies.
Every time the price goes up a tiny bit floods of grandiose predictions come to this forum and the chat.
Technically bit coin can only go down, flawed fundamentals, lack of social demand, outdated tech, stagnated development, ruined reputation.
I would like to warn people once again, don't lose your money on foolish decisions.
I think most of the people involved with btc (especially those on this forum) are mainly concerned with price, in other words they only buy and hold for SPECULATIVE reasons. They can keep saying btc has so much intrinsic value, but if the majority of people holding are only doing so to make a buck, then how does btc have value?
I do agree, I think btc will go down long term, but people do have a reasonable chance of making money if only onlding until the next price spike. Thats the problem though, as soon as we see a ~10% spike, people unload.