Has anyone else gone through an obscene amount of alcohol in the last seven days or is it just me?
Probably just you....
hahahahaha
I'm just kidding.
Even when I feel quite calm cool and collected (with a decent plan to advantage from this seemingly extreme downwards volatility), the situation can still be stressful - because us BTC watchers can never really be sure what price point is going to hold, exactly and when the downward momentum is going to end, exactly.
This reversal in the past 10 hours at $7,625 does seem to have been based on a decent amount of dump spike volume that would be relatively convincing that the bears should have blown their wadds - but gosh.. we can never be certain until perhaps being more certain after we bounce back above a certain price point, perhaps that price point is above $12k-ish, currently?
It feels like just traders are left. Tether/Bitfinex still unresolved. Bitconnect might not have been a lot of money relative to bitcoin but it was a lot of people who are derping on YouTube and everywhere else fuck all crypto. ICOs are either getting sued or getting C&D by Texas. Anecdotal evidence points to 20k being top for a while. People in this thread retiring by selling above 10k likely means they wont buy back at above 10k so that segment is gone. The regular people are gone. I have a friend whos a multi millionaire. Double digits. He got burned on LTC by buying it above $300 when stupid TV was pumping it with three simple reasons why its better then bitcoin and last time I tried throwing him some signals like set your bitcoin buys at mid 8s, mid 7s and his response was fuck this, I aint dropping another penny on this shit. He got burned by the stock market a while back and to him this is just another market. Nothing special or different. Of course I could be wrong and who knows maybe hedge funds will buy to manipulate the futures market. People dont understand bitcoin is a savings mechanism not a fucken get rich quick mechanism.