Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Yeah, and those people made out like a bandit when they rebought at $6 and $100, and if we're ever at $xxxx (I say "if," not "when," because I don't know about you, but I'm not a psychic), the same people bragging about buying at ATH will come out of the woodworks, start shouting the same thing about 100k coins, and then holders should be worried again.
The point is that most traders lose money. The forum is littered with people who sold early and wished they hadn't. There may be a very select few who have sold at near a peak and bought in much lower. It isn't the vast majority of the bearish posters on here who simply wish to buy at a low price. I would say buying at a third of the previous ATH is a decent entry.
Most traders lose money because most traders trade with emotion. If most traders lose money, shouldn't you be betting against most traders? During the last bubble, most traders were shouting "TO DA MOON," and when that happens during what has already been a huge run up, and the greed factor is at the absolute maximum, that's when you should start worrying.
The forum is also littered with people who bought at 30 during the run up to 32 and are happy with their profit, when if they had shown a little patience and didn't let emotion get the best of them, they could have waited until even $15 (let alone $5 or even $2) and doubled (or more) their profits.
Picking an absolute bottom for most people is very difficult, but extremely easy in retrospect. If the price rallies up to break 450 in november then the long term down trend is likely broken. That could happen in 24 hours. Given the incredibly bullish year we have had despite a heavy bear market I find it puzzling that a seeming majority of posters expect the price to drop continuously lower back to levels from 2 years ago.
That's a big "If"
In the context of an 11 month bear market we have rising btc adoption, rising transaction volumes, rising merchant integration and astonishing VC funding into bitcoin companies this year. Fundamentals seem pretty bullish to me. Perhaps you have another idea.
Technically I see a high volume reversal at 275 and so far a higher low.
I have no idea what will happen, but my guess is that it will go much higher. I am not 100% invested in bitcoin because I don't know that, sadly
Nobody knows for sure, market is to small and easily manipulated, but the problem is you WISH it will go up. You're not objective and you can't see the reality. The fact is there is a strong downtrend, it is more likely it will go down than up. I'd say there is 80% in favor of 200s to be see first than 400s which are about 20%.
You are no more objective than I am. I wouldn't call this a strong downtrend in any case. Momentum is leaking out of it with each passing day. Looking at volume your guess odds are unlikely. In fact all your guess is predicated on is a line on a chart. You could be right though
Edit: just realised you are called Deadcoin and that doesn't exactly support your argument of being objective.