It boggles my mind that there are members and senior members making comments like, "Oh this is great, let's hope it continues to rise!"
The only thing I can think of is that they are bought accounts or a shared account.
If you know anything at all about trading, crypto, and economics, you would be worried at this huge price increase.
It is absolutely not sustainable.
The thing that worries me a lot this time around is not the inevitable crash and price correction, but the reputation of btc after it crashes.
Right now, noobs are driving the price up. BTC has gone viral and every idiot with a credit card is trying to get in on it with hopes of becoming a millionare in a year.
I've got the most random people posting on their social media feeds about how BTC is so amazing and they will get rich off it and everyone else should too.
They are each putting in, what? a paltry couple thousand at the most?
When the price crashes and they try to panic sell and realize they can't even liquidate their btc then I am afraid the reputation of btc will get damaged and delay its mainstream adoption further.
The only thing I can think of is that they are bought accounts or a shared account.
If you know anything at all about trading, crypto, and economics, you would be worried at this huge price increase.
It is absolutely not sustainable.
The thing that worries me a lot this time around is not the inevitable crash and price correction, but the reputation of btc after it crashes.
Right now, noobs are driving the price up. BTC has gone viral and every idiot with a credit card is trying to get in on it with hopes of becoming a millionare in a year.
I've got the most random people posting on their social media feeds about how BTC is so amazing and they will get rich off it and everyone else should too.
They are each putting in, what? a paltry couple thousand at the most?
When the price crashes and they try to panic sell and realize they can't even liquidate their btc then I am afraid the reputation of btc will get damaged and delay its mainstream adoption further.
I could not agree more. I don't understand why all these senior, hero or even legendary members are saying its great.
In the exact moment, YES, it is indeed good if you plan to sell... BUT, if you have that die hard HOLD mentality with the perfect image in mind that it'll continue rise perfectly, your an idiot. They either say hold to prevent people from selling, or are so idiotic that they really think it wont crash.
This much of a rise just is not healthy whatsoever...
Has anyone even heard of the Tulip crisis?
