Most people here have deluded themselves into thinking btc is going to skyrocket sue to "imminent mass adoption!" Clearly this is not the case, and lots of former bulls are now facing the facts and turning bearish. One of the ways people tell themselves they are right is saying anyone who sells is a "weak hand." Funny because you should be calling them "smart hands."
I'll admit I had high hopes for btc, but the last bubble has no reason to repeat itself: There's no new money coming in from anywhere in the world, adoption by merchants just essentially creates lots of sell pressure, and the media is doing its job scaring people away from btc by associating it with illegal activity.
Also, what happens if another exchange (maybe btc-e??) goes down. BTC couldnt handle that.
Good luck to holders though.
I'll admit I had high hopes for btc, but the last bubble has no reason to repeat itself: There's no new money coming in from anywhere in the world, adoption by merchants just essentially creates lots of sell pressure, and the media is doing its job scaring people away from btc by associating it with illegal activity.
Also, what happens if another exchange (maybe btc-e??) goes down. BTC couldnt handle that.
Good luck to holders though.
It's cult behavior, unfortunately. You're either in or out, and if you're out, you're a scumbag. But the reality is that those "weak hands" made a killing selling when the selling was good. So, I'd like to take a moment and thank all the "strong hands" out there.
Also, who would have thought that as we near the conclusion of 2014, BTC would be hovering around $300 USD?