Quote from: 1Referee on July 28, 2018, 06:07:53 PM

Quote from: Denker on July 28, 2018, 09:44:38 AM

Otherwise I could say the same about you. As long as you haven't sold your coins, Bitcoin will not move up. And that is totally bull shit! You know this.

Learn how markets work.

The point is that people don't get what they want because they want it. Why? Because they have entered the market already, and thus will only sell in case the price goes up, where on top of that we're in a situation where there are loads and loads of bagholders holding $10,000-$18,000 coins. In other words, selling pressure on top of more selling pressure.

These people need to sell as many of their coins as possible in order to satisfy market movers to put their capital to work. If you think they will let you dump on them you are delusional. As long as the number of floating coins isn't decreasing, there will be no bull run. It could potentially mean that there won't be a bull run for another 2 years.

Yeah exactly, there's too much pressure on the upper end and it's going nowhere fast. People who got in late last year during that bull run are stubbornly waiting for the price to get back to breakeven so they can escape without a loss. And they are probably the ones who are calling for prices to be 20, 50, 100k by the end of the year because they are hoping to entice more buyers to jump on while they sit and wait.

What's making bitcoin consolidate now is basically stubbornness of early investors. There could be much more liquidity and price action but it's just bumping up and down because they don't want to get out. I think any new market follows a similar pattern with it's virgin bull run. That shock leaves people reeling for at least a year afterwards.