Quote from: wxa7115 on July 01, 2022, 05:10:53 PM

Quote from: Poker Player on July 01, 2022, 09:57:22 AM

Well, that's not surprising. Good deals are made by buying cheap, and now is a time when Bitcoin is cheap. We can't know i the next few months it could go lower, I wouldn't rule it out, but we are definitely in a clear buy zone if you plan to hold bitcoin for the long term. Uninformed retail investors usually do the opposite: they bought above $60-69k and sold recently.

Those weak hands do not really know what they are doing, even if they bought at the top of the market this was the perfect time to do some DCA, and by using that strategy reduce the average price at which they bough their coins and then become able to breakeven way earlier than if they just held their coins.

It is incredible that after making the mistake of buying bitcoin at such an expensive price they make the second and even more crazy mistake of selling so cheap when the opposite move is what it was needed for them to turn a profit in this market.

The thing is that there will always be weak hands. They are the people who buy at the
top purely on emotion and FOMO and sell at the bottom* out of both FUD and/or having
put too much into buying at the top and over extending themselves.

El Salvador and Microstrategy being strong hands means those Bitcoin that have been
bought cheap wont be on sale again for a very long time. This creates an even bigger
scarcity issue in the not too distant future.