There is a forum with 500,000 subscribers. Many of whom have jumped on the band wagon overnight. https://www.reddit.com/r/Bitcoin/ Another with 118,000 subs https://www.reddit.com/r/ethtrader/ And they're all buyers. Because the market only moves one direction, right? To top it off, the popular opinion is to shit on those who suggest otherwise. (Not that I would try such a thing. Just that I've seen it happen). The 2017 party is going to end with a lot of people getting hurt.
I joined that forum in 2013 when it was 90.000 subscribers. And have it seen growing with hard-core educated believers until 300.000 members beginning this year. Indeed the last few months the inflow of 100.000 newbies and gold-diggers didn't do this forum any good. No it doesn't. As those newbies are educated by the seasoned members, not to panic, not to invest more than you can lose, and to HODL. Anyone who is Bitcoin educated (which you aren't yet) knows that we are just beginning, that it will go with lots of ups and downs. We know it's a S-curve technology.
FWIW I may regret it but sold equivalent to original cash investment at 16,000 yesterday. Bought in at 2,000 few months ago. Not sure what is going to happen next week. May buy back at 10,000 otherwise just hodl
Stupid hypothetical delusional graph , everyone has their own version , i may paint you a better one in my spare time .
The 'Insider Information Counter' is saying that Bitcoin will double. 1 Bitcoin will be worth 2 bits!!
It is in the interest of the believers to pump as much as possible. And dump later. As bitcoins are pure thin air, the only thing that can cause prices to go up is find new people who want to join, pay very expensive prices, huge risk, and take the hit when things go wrong. In that way the believers protect their own investment. That is the only reason why believers post all over that prices will go much higher. Prices will go up before they go down, and nobody can predict a crash or when it will happen. But the same is true for predicting the future profits. I know people, who became (based on the value of their portfolio) millionaire investing in stocks, that lost all they have in the following crash. History repeats itself.
This is my fear... Conservative Hawks who see their bottom line hurt or missed the train will scream free market but will be the first to yell "ban it, these people are idiots who need protection from their decisions."
“We’re seeing more calls coming in and asking for information and confirmation that we plan to support this product than for any futures launch in recent history,” said Nick LaMaina, a senior vice president at TradeStation, an online brokerage that plans to support both exchanges’ products. (WSJ)
Bulls or bears? I'm thinking mostly uninformed bulls..... I'm more afraid of the informed bears with corporate pockets.... But they wouldn't be wasting time on the phone.