i have observed that now bitcoins arrogance causes its price drop
as soon as bitcoin looks too expensive, people start seeing bitcoin as some sort of arrogant cryptosect,
and the price drops, as will its popularity,
as soon as 12 000 USD are beeing reched again and people start speculating a price explosion again, bitcoin looks again arrogant for many and people will drop it
someone else expects the same?
regards
I don't understand by arrogance of bitcoin. It's always like that ever since as far as I know. And the exponential growth and drastic fall is just part of the system, which we all call volatility.
People cash out that contributed to the price going down, but I don't see any problem with that. We don't expect everyone to just really hold on their coin and hope that it will grow. Sometimes you need to take profits and when the market is fit for re-investment, then enter again. And there is no arrogance on that.