Quote from: Slow death on November 21, 2018, 07:51:45 PM

" Buy high sell low! "

when high is high and low is low?

when the price of bitcoin was $9000, I read many news that said the price of $9000 was very low, today the price is $4500 and people will say that the price is very low, tomorrow we will see the price of $2000 and people will say that the price is very low, in the end no one knows when the price is low
~

I think it depends on for how long someone is going to hold. For example, when price was $600 in March 2014 some people were saying that the price was low because it was $1,200 3 months earlier. And some people, believing that the price was low bought at $600 and were shocked later when the price went down to $200. BUT if they were holding until December 2017 they would be glad about making the decision to buy at $600 in 2014. The thing is that if they wouldn't buy at $600 most likely they wouldn't buy at $200 either thinking "Now it's obviously going to zero".

Today we are in a similar situation. People who bought at $9,000 and are going to hold until better days are in a better position than those who didn't buy either then, at around $9k, nor going to buy now at around $4.5k or lower.