Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
drays
on 12/08/2018, 11:55:19 UTC
Apparently reddit does not like my humor (or lack thereof).

https://www.reddit.com/r/Bitcoin/comments/96mnhp/for_those_who_bought_bitcoin_to_get_rich_my/

downvotes galore

This is what worries me (apart of lack of humor or differences in humor perception): redditers are still bullish, very bullish.. too bullish. And not only redditers, but here in BCT too - no despair traces are visible en masse. No despair - no trend reversal, and I wonder how long this market can drop until people finally panic. I understand it is hard to shake out old Bitcoiners, but the new entrants should have already started to capitulate. But nope - even those who think Bitcoin will drop further, are setting 3K target, and expect moon then (in ~2 years). This particularly should mean the 3K bottom is to never happen - as too much people expect it. Bitcoin should either bounce noticeably higher or noticeably lower. Given the absence of despair now, I start to think it could go lower... which is highly undesirable scenario as I see it, as it will punch through weekly MA200 then, and also its will be disaster for miners and many crypto businesses.

But I am not really social media aware guy, and I may easily miss something. So... a question: did anyone see traces of mass panic in social media, enough to call it a mass sentiment..?

P.S. Please don't call me FUDder. Yes, I am not a bull now, and I miss TERA2 here, but I am just expressing my own concern, and will be genuinely interested in what people here think of this.