Re: Everyone is fearfull. Someone said this is time to be greedy
Panic and tremors only make us fall into the arms of bears, some people appear to haggle over the price of bitcoin to buy when the market breaks strongly, they may lose more than their advantage. I'm not nailing the bottom, because I'm bullish on bitcoin. Buying at 29-30k is a good reassurance. I guess we're going to be strong this weekend.
those who panic will get nothing in the market...Buying when the market is bullish and selling when the market is bearish is stupid behavior. the best time to buy is when the market is bearish, then control your panic, don't be like a stupid newbie who always panics.
The fear and greed index represent the opposite of this behavior. People normally loves to jump in a running train and hardly take any position while the train is still and not moving. I don't understand the nature of the people that they will feel hesitant to buy bitcoin at 30K but these people were happy buying at 60K
That's what you called ignorance, most people who ride the FOMO does not really understand how this market work, they thought the train will continue and will not stop, and when the price dump and they see their investment's value is slowly going down, they tend to panic and dump immediately, and that's the reason why we see some significant market dumps that would result to more selling pressures by the newbies.