Quote from: pixie85 on October 07, 2018, 08:17:59 PM

Quote from: deisik on October 07, 2018, 10:28:51 AM

Quote from: team87 on October 05, 2018, 07:35:43 PM

I see that the price of Bitcoin is still around $ 6500. Maybe I am one of the many people who expect bitcoin to jump to more than $ 10,000. Until now, I can only hope this will happen in the coming months in 2018. I think being patient and having high hopes optimistically will be a loyal friend in this mind.
Thank's.

I can assure you that you are not alone waiting for these prices

That's why we are very unlikely to see them soon as quite a few people are waiting to jump off at the first opportunity, i.e. to get rid of their coins as soon as they can even if that means gaining nothing or booking some losses. There was plenty of enthusiasm and expectations of prices rebounding from levels of around 12k when the first serious wave of Bitcoin crash overwhelmed the market. And in fact, there was a rebound, a typical dead cat's bounce as it turned out later. So there is a massive amount of bitcoins waiting to get sold off. Since people are always thinking that are wiser than the rest of the pack, many are not actually going to wait that long and will be ready to liquidate faster at lower prices. And the practice confirms that hypothesis as we see a tremendous resistance instantly building up whenever there is a hint at price growth

In a sense, we are like a hamster on a treadmill, so no matter how fast we run, the wheel just spins faster

It's not always like this. In 2016 people had many opportunities to unload everything especially since they could buy at $350 and sell at $650 in a matter of weeks between April and May. It did not happen. The majority quickly forgot about the bear trend and kept buying above 600 USD. They did not want to buy at $300 2 months before but they were buying at 600 now. Inner workings of human mind.

Times look different now

You miss an important factor which was likely at play back in the day and which is absent today. First of all, how could the price go from $300 to $650 in a matter of weeks if no one had been buying? But this is a minor issue. The major one is that people who were buying in September, 2016 (as it was then when the prices had started to rise in earnest), and from then on, were mostly first-time buyers, and there were plenty of them at that point. Theoretically, if many millions of new comers enter the Bitcoin market right now, all resistance will be double-penetrated brutally in less than no time, but personally, I don't believe there is a good store of fresh souls willing to accomplish this feat. That's why things may be and likely are different today