Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I wonder how low we will go when the real panic begins
what do you mean ?"I want the price to drop so I can buy in cheap."
resignation begins when the price have been quite stable and didnt CCMF for an extended period (all things being relative). Then, people start cash out little by little (because they obviously cant wait anymore or need money to buy sushis), and as a "snowball effect", the price go lower and lower.. eventually, it drops even more rapidly as people reaction to such a downtrend would be selling more and more... hence, panic sell
Probably. But they aren't rushing blindly into it for sure. Right now, there is nothing that is legitimately boosting the price (besides insiders/whales/fools). Wall street is probably waiting for a clear buy in signal. which could be regulations incentives in the US, mining difficulty jump (as new ASICs are about to flood the market), price crash...
I think that those from wall street who wanted in, are already in. Dreams of bitcoin hitting big at wall street will more probably remain dreams. No serious player will trust their funds into something where he has to hope that unknown Satoshi/drug dealer/computer crackers/confidence men will hold their coins and by that keep the value of bitcoin.
If they want to invest into crypto, then they will start pumping something that has a more transparent history.
yea that also could be true.. but who knows.. never underestimate greed in wall street
plus, may i remind you that bitcoin is only at its beginning now. there's plenty of time to assess the opportunity to get involved or not.