Quote from: windjc on December 23, 2013, 08:44:37 PM

Quote from: MatTheCat on December 23, 2013, 08:24:09 PM

Quote from: socket on December 23, 2013, 08:18:53 PM

MOABT (mother of all bear traps)?

I suppose it might be the 'mother of all' bull traps, but again not really. Away from the heavily slanted bias of this forum, nobody with any kind of head for investment is looking at Bitcoin now and thinking, 'definite buy, it simply MUST go up'. Anyone entering market at this point in time must surely know they are taking a risk that this is indeed a stability period after the very bottom.

I disagree. Wealth investors and institutional investors look at bitcoin as boom or bust. I don't think many of them think that the price will be anywhere near $600 2-3 years from now. They believe it will either be between $0-$5 or $10k-$100k. So, if you are going to take the chance on Bitcoin from their perspective, $600 is as good as $500 or $400 or whereever.

So, as a bear, you have to ask yourself, how long are you going to wait out for a couple hundred dollar cheaper coins, before the bigger money arrives next year.

This is a half-truth at best. Having 30%, 50% or 100% more of something is quite a difference. Smart money looks for the best entry point in a given timeframe, especially when dealing with an extremely volatile asset as it is BTC.