Quote from: figmentofmyass on July 01, 2018, 08:41:30 PM

Quote from: adaseb on July 01, 2018, 08:23:49 PM

Some even asked how to use Bitmex or Bitfinex to short. They basically want BTC to go to $1000 so they can recoup some of their losses.

Basically they will lose money going both directions. Due to greed and emotion.

that's why most people are losing traders---they buy the top and sell the bottom. it's just human nature. at the lows, they think "it's dead." during the bubble, they wait because they want so badly to be right. then at the highs, they think "new paradigm" and buy the top. then they're too stubborn to sell/short when it crashes; they wait to sell the bottom.

as much hate as the asset bubble chart gets around here, it's pretty accurate if you see it as a cyclical kind of thing.

Yeah, it's really the crowd that moves the price, rather than the whales as the most convenient reasoning. Whales and manipulators - if they truly exist - set things in motion, but it's really the mainstream sentiment that are the self-fulfilling actions for the prophecies proposed. And even though the logic has already been identified that the best time to buy is when everyone thinks "it's dead" and the best time to sell is when everyone thinks "it's mooning", human nature takes over.

I also agree with the bubble reference, but only with its cyclical connotation rather than a single devastating event.