Re: [ANN][DOGE] Dogecoin - very currency many coin - v1.6 HARDFORK MANDATORY UPDATE
When the price rises people get greedy and buy too much at high levels.
Near historic (or medium-term) lows many people are way too scared to buy a lot more.
^^^This is why most traders lose money....Shhhh....Don't tell the noobs.
Near historic (or medium-term) lows many people are way too scared to buy a lot more.
^^^This is why most traders lose money....Shhhh....Don't tell the noobs.
Well yeah. It's common that some people are afraid to buy after a downtrend because of worryin it will go down further. But really? People buy at historic heights? In fact the largest sell volumes came at those historic heights when it comes to doge coin. After all te hype wore off I don't think there were any bigger massive sell orders than the ones @ ~ 200+ satoshis.
But really?
Most traders lose money long-term, but that doesn't mean "the masses" are always wrong.
At major turning points when Bullish/Bearish sentiment is 80, 90%+ is when it really pays off to go against the crowd
People buy at historic heights?
Of course, some do expecting much higher prices. Without heavy buying at 170, 180, 190, the price would have never gone over 200.
Also at/shortly after a high of 250 (for example) you get many people who think ~230 is a good price when it is probably a big mistake.
I don't think there were any bigger massive sell orders than the ones @ ~ 200+ satoshis.
True, with such a large supply, sellers were wanting to ride the trend, but did not want to miss the one great chance to sell.