From my side, much respect to waveaddict and masterluc.
It's really amazing how big greed is on human nature, lots of people are expecting to see +1100 prices by next week after droping from 1200 to 550. Sorry guys but is not going to happend in a short time, not a single good inversor/trader is going to panic buy or going long right now until waters calms down, in a few weeks at least.
This is time to take profits, but much people are still in denial phase.
Yeah... This is kind of bullshit. I would suggest not to throw around big words like "denial" and "greed", because exactly the same arguments were thrown around each step along the way to 1200 from the April low. Sometimes they were appropriate, most of the time, they weren't, as evidenced by the 1200 ATH.
Note: I'm not saying I think we're back on track immediately to a new ATH. But we just saw a halving of the ATH, and some (moderate) signs for support above 600. So another halving event like the one masterluc expects is dubios in my opinion. Not impossible, but not the most likely scenario either.
Sorry but english is not my natural language, how should i call those emotions then? I was not saying this in a unrespectful way, and i don't want to offense anyone, of course not, i'm only calling names to emotions.
We are in a downtren, indicators says we are going down, this is not a normal correction don't you think?
(Sorry if I came across too aggressive)
It's clear we saw major correction, true. To be followed by another major correction (which is what lucif expects)? That would confirm we're probably going to see a longer lasting downtrend. But I'm not sure that'll happen... Come Monday, we're going down to 300? Are you sure about that? Because to me the market right now mainly looks the same way I feel: undecided. We're hovering precariously close to the 30d average (on all exchanges), the bottoms of the smaller waves since 576 are slowly rising, volume paints a pretty uncertain picture, order books across all 3 major exchanges are holding up quite nicely actually,... like I said, to me it looks like it could swing either way.
By the way, I wasn't against profit taking at all. I sold at 1000, and don't regret it for obvious reasons. the question is, have we seen the major part of this correction, or are we in for a long bear market.
No problem
I'm not saying we are goint to 300 by monday. Same as you i see the market undecided. So as i see things, under in doubt better be sitting on fiat than BTC until one clearly sees market's direction.
I don't mind if i 'loss' a few BTCs on the way and have to repurchase at $1500 at a 'loss', but if i purchase now and there is another dip i will regret later lossing thousans of euros, and euros are valuable to me, not the bitcoins, and i think most traders think the same way.
This is why i was talking about greed and denial, trend is always your friend, and trend now is down. If you are now all in BTC is a high risk you take, maybe you can be good or it can turn against you.
Better be safe and follow the trend, don't you think? Buying now is quite risky, i want to play safe leaving emotions alone.
For some being all fiat is much riskier than being all BTC. Difficult to argue when BTC appreciated 7,000% in the last twelve months - we can't say the same thing on fiat. The "trend" is pretty clear especially if you zoom out.
That said, we all need fiat for most of our needs, thus taking profits is sensible and it needs to be done following a rational plan based on personal circumstances and personal needs. I wouldn't advise being "full fiat" though - or wouldn't you hold at least 10% of your stash for the very long term, no matter what?Even luc wrote he is holding 20% of his coins. I'm not surprised, 100% in or out is pure gambling and poor risk management.
