Re: Speculation Rule: buy when others are irrationally pessimistic or too cautious
I get tempted to sell at $900 (right now we are at $901) because the $800 ish stable zone (with a potential dip to $700) makes sense and I lost the possibility to make some extra BTC by selling at $1100, but im too paranoid about it... at the end of the day we don't know what can happen. Going from the current $901 to $800 may seem reasonable but I may wake up to $1000+ again tomorrow for I all know... this is bitcoin after all.
I don't want to be left behind in a bad move holding USDT (I would use USDT in poloniex so I can avoid giving details to exchanges since there's no way im dealing with real fiat, so USDT seems like the alternative to try to play the BTC market a bit and stay anonymous)
I don't want to be left behind in a bad move holding USDT (I would use USDT in poloniex so I can avoid giving details to exchanges since there's no way im dealing with real fiat, so USDT seems like the alternative to try to play the BTC market a bit and stay anonymous)
I am not trying to increase my BTC. The 9.5 BTC I have is to pay my expenses over the next months. I should have sold some at $1100 because I was wallowing in illness and wasn't able to stay on computer.
My stance is that 10 x $300 is not going to change my life. It won't make a huge difference in whether I succeed or fail in greater endeavors.
So I am not going to panic sell at $900. We don't know if BTC might not go much higher right now.
If BTC bounces back up to $1000 and I happen to be on the computer, I will sell 2.5 BTC. But I am not selling all 9.5 BTC prematurely. There is a clear bull market underway and I doubt we are any where near the top yet. Prices will be much, much higher by 2018.
I don't think it would go much further down, but it may go a lot further up..
It won't go below $700. Period (unless something really bizarre happens such as China banning Bitcoin). Probably not below $800.
And it is headed to much higher prices. The bull market is intact and this is a healthy correction.
Flip a coin. Either we are going much higher now, or we will meander for some months first and perhaps even make another cup & handle dip to $700 first.
The $1300 ATH will be breached by 2018 at the absolute latest.
I am leaning towards we are entering a frenzy period. As you say, China appears to be driving this.
I don't subscribe to any specific prediction, but volatility does appear to be increasing.
If you want to ride this wild horse, don't get thrown off.
The $1300 ATH will be breached by 2018 at the absolute latest.
I am leaning towards we are entering a frenzy period. As you say, China appears to be driving this.
I think the price will double top up to $1300 - $1500 within the next weeks and then decline to $600 - $700 over the next 2-3 months with another run up for the latter half of 2017 
You're in the wrong place if you're seeking financial stability..
You're in the wrong place if you're seeking financial stability..I don't subscribe to any specific prediction, but volatility does appear to be increasing.
If you want to ride this wild horse, don't get thrown off.