not bulls, bullshitters. in a scam there are bullshitters and bullshittees. now the public is trapped... from $20k all the way down here... fxcm is 76% long, no relief in sight. $240b market cap for a bunch of white papers, plus a couple of coins that have some actual usage. the same amount of money can buy NVDA, plus $80b in walking-around money... or NFLX, with $60b walking-around, or go down to the 2nd page of nasdaq-100 and pick 3 of them around $80b..... see the point - $240b still way too high. the public is trapped - this is a race to the bottom, a race of who can make the decision first to cut loss.... yes, tough decision, but that's what the race is all about. saying 'I told you so' is too low... but I did say the picture was too clear to ignore. this is not a store of value. when stuff happens (latest being the trade war), where do people run to? the US dollar, the true gold. this is not a currency - nobody can conduct commerce with this. so what is this? some software with some potential usage. so value it like any other software... and see my market cap points above. now going over to reddit/bitcoin to have my laughs.
Good news for the Mt Gox victims, they are going to get back their share in BTC. That means 2 things: 1. I would say half of them will sell it right away, so downward pressure. 2. They still made like 400% return, although they are getting back only part of the missing coins. But the appreciation was still much bigger than the loss %, so overall it is still a win.
learned something new today... this is called a triple bottom.. https://news.bitcoin.com/markets-update-triple-bottom-confirmed-but-where-will-it-lead/ hahahahaha
anyone still thinking the whales and wall street is not joined at the hips? trading is like doing theoretical physics... you are never 100% sure, but if all the evidence supports the theory, then..... all these moves are definitely not made by some coin whales who have no trading experience... these are foot prints of professional traders.. a poke upward, see if it triggers short covering, or if it attracts the trapped longs to dump. but with 76% fxcm long, the latter is far more likely.
Did the farmer get the coins for free? Nope, he mined them. At 20K those extra hoarded coins were his paper profits. Now at 6K that is a huge paperloss that could eventually go to real loss and the farmer ending up not making anything in his farming adventure.
the amateur crowd thinking like this is why vast majority didn't make nothing in the 2000 bubble.... and won't in this bubble either.... once you have a high water marker set, every trapped guy is thinking woulda coulda shoulda and will go down with the ship. we all know the market doesn't care about your cost base... paper loss is real loss.
I posted this already a few times. But their reaction is human, that's why so many people lose money. Decisions made in desperation look always like that. Money should be in the bank, all the rest is irrelevant.
OK, I get it. I am a rural type thinking guy so I thought you meant a agriculture type farmer who cashed out his original investment and is just hanging on to the profits for whatever they might eventually do. I was a little naive.