Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

As a newbie entering during the April crash, this was not my mindset. But maybe I am an exception. I saw the price crashing -- at first I jumped in, thinking it would shoot right back up. When it continued to fall, I turned around and panic sold and lost half my fiat. As I watched the price plummet I sat on the sidelines, even after an obvious bottom. Fun times to look back on! Cheesy

I recall the long verification queues as price crashed.....

I think the long verification queues were responsible for the very short bear market. Each should be shorter . . .

I have to admit that I can't put myself in the position of the newbie. I would think that many would look at charts and realize we won't be shooting back up right away and take their time with being wise, maybe not. Some will I am sure. In April we only had the one previous major crash to go on, and I too sold more than I should have, and sat on the sidelines for too long with that cash.

What would you consider short? I'd say we were in a bear market until July, at least, right?

My thinking is that a lot of newbies will buy in, panic sell and get burned. Then they'll exit or sit on the sidelines. What proportion -- I have no idea.

I think the most bullish fundamental right now is the presense of big money that hasn't entered the market OR, more importantly, has been waiting for the right time to enter the market.

I think this last run up was fueled in great part by small investors. And those ran out after a while, because the price was intimidating and/or the holidays, etc.

However, I imagine a lot of wealthy people were interested in entering now that Bitcoin is getting more respect, but knew that they wanted to find a good entry point.

This may cause money to flow in these next couple of weeks that otherwise would not have.