dafuq is going on. i never understand these pumps. i love them and its exciting but i'm baffled as to why volume is way up when price miles higher than it was a short time ago.
are there really that many people who see it sitting at 250 for like 18 months who suddenly decide to buy when it's 600+?
It didn't sit at 250 for 18 months, it bounced up and down between 200 and 300. Nobody knew if the bottom was in and each time it went back down to 200 people panic sold in case it went further down to 100.
Can you predict how high it will go before crashing again? Will you sell at 5000, then watch it going to 50000 and not buy back at 10000 or 20000?
I can pretty safely say I'll never buy a $10,000 bitcoin. Just sayin'.
Quoted for posterity...
Never say never.
Indeed. There were probably people back in 2011 saying, "I'll never pay $10 for a bitcoin LOL!"
There will be more than 100 million people buying at $10,000/BTC. They will just buy 0.01 BTC at a $100/1mBTC. Not like people said they wont buy more BTC over $10/0.01 BTC (their loss :-) )
Just as there were 10-100 millions who accepted Venetian gold coins for centuries
https://en.wikipedia.org/wiki/Sequin_(coin) in the 1300s'-1800 whom used it for a stable value store of currency for trade, and did not care, if they could afford a "whole" Venetian gold coin".