I remember that an Israelian and and American University found proof that parties sold all the time to each oters and pumped up prices strongly. The speaker in the video that is part of a link I posted earlier spoke about this practice too. I watched a few big wallets and several of them have huge losses. But they might as well have sold to another wallet of themselves... splitting the losses over several wallets. Somebody should analyze all the blockchains and things would be more clear I think.
Yeah but you were talking about dumping, not pumping. Also if your cost average is let's say $200, it pretty much doesn't matter if you sell at 18K or 12K....
I agree, but I was referring to the pumping that was mentioned in that video too. I don't agree at all. It does matter as profits are 50% higher if you sell at 18K instead of 12K. At least for me it is a substantial difference.
Well said but opportunity not taken advantage of, is opportunity lost. I know you spoke sarscastically but buying here and averaging down will one day be golden. I have no energy to rehash all the things that will happen to the world when you combine atmospheric debt with rising interest rates but I do think the private bank owned Fed just might be stupid enough to trash the economy in 2019-20 with insane interest rate increases just to get rid of Trump. Things just might get out of hand if they try this. I tell my friends that I don't think this market decline will have legs because there is no fundamental crisis like in 2001 and 2008, however the debt bubble could be the game changer if interest rates continue to rise and then the 10 year Bull market could change into a Bear that takes the DOW to 10K. I wonder where Bitcoin will be when/if that financial panic happens.
A lot of wishful thinking. Reality is that we almost hit the $3,000 mark. And profit and loss are generated on reality, not on wishful thinking. The believers had already dozens of levels where averaging down would be one day golden. But till now all these levels were broken and generated only more losses. On top of that you need very deep pockets to average down during 12 months and a +80% drop. 90% will go broke (or are already broke) before the average down will start to work. If it will ever work, which is not sure at all.
The last 12 months the bears get continuous confirmation they are right. Prices drop, drop, drop, drop, drop, drop, drop, drop... Not the bears, but the believers are too entrenched to change viewpoint. That's why they refuse to sell at the top and even after a 80% drop they still don't change their viewpoint. They lost all contact with reality. And as the losses are so big they refuse to take them, resulting in more losses... BTC is not bottoming, no sign of bottom at all. I learned over the years that if a real trend developped it always went far beyond what people were thinking. We saw this with the bitcoin too. First up till $19,000 (far beyond what most people expected), and then a drop that already reached over 80% (again far beyond what most people expected).
Not talking about selling the farm and the family jewels and the entire stock portfolio and putting it all into BTC
This article shows clearly that there are insane people doing the most crazy things. https://www.ccn.com/investors-in-us-market-paid-39000-to-buy-bitcoin-at-peak-using-gbtc/
Very True. For some reason it really bothers you that some people are able to grasp a concept, make an investment they are willing to put away and hold, and sleep well at night.