Quote from: cellard on November 20, 2018, 05:25:35 PM

Quote from: o_e_l_e_o on November 20, 2018, 01:14:38 AM

Institutional investors. Wall Street bonuses. ETFs. Chinese New Year. Thanksgiving. Black Friday. Christmas. We've heard nonsense like this pretty much on a weekly basis all year.

We've also seen charts comparing bitcoin to bitcoin in 2014, to gold, to dotcom, to whatever you like. Past performance does not predict future results, and past performance of something completely different to bitcoin like gold or dotcom definitely does not predict future results.

I'm completely bullish long-term for crypto, but posts like this are really getting old.

BAKKT is coming December 12th. We may keep falling down for the rest of November and we may bounce again for Christmas propelled by BAKKT. Remember that BAKKT is backed by the underlying asset (so in this case, they need to buy actual bitcoin). It's only a matter of time and someone with big pockets may see this dip to below $5k as a lifetime opportunity to enter in bigly. If I was 100% on fiat I wouldn't gamble and I would start buying monthly no matter how low it goes, because it can revert at any time and you would miss the boat.

Well, that would have been a reality if Bakkt has not delayed their launch and one way or the other, I just feel like generally, institutions are basically just trying to play with the market and the emotions of people, even with the whole Bakkt thing and with the way things are going, I would not be surprised we will keep moving like this until next year maybe.

Nonetheless, no one really cares, whether they get to tap the market down the more, or another rally starts, what is important is to know the potential of what you are holding and stick to it. As things are going now, I would not be surprised to see $3k, but the question is, would this actually be the bottom or not? I guess time will tell.