Quote from: Majormax on August 12, 2018, 01:07:22 PM

Quote from: drays on August 12, 2018, 11:55:19 AM

Quote from: Elwar on August 12, 2018, 04:35:28 AM

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.

I agree with your analysis. From what I see around many, many different sources ( offline as well as online), there is a majority of bullishness.

Lots of price rise forecasts, mostly predicated on hope alone. Lots of anger directed at bearish forecasts.

Unfortunately then, price is stiil flowing down the river of hope, and it could take a long time and a big decline to change that.

I wish it wasn't so.

I really cant make sense of any of this?
So what we are saying that in order for the price to rise it has to go down first?
Why?
What if more people get in to bitcoin? Is the price going to go down?
Whats wrong with as demand goes up so will the price and if supply goes up then the price will decline?
Sometimes when I read this stuff it makes my brain hurt! So many double,double, double negatives! In the end everybody tries to second guess what everybody else is doing that we all end up tripping over ourselves.
If you can afford to wait then just Buy and HODL. Its worked out fine so far.