Why?
1- Study the past chart movements, they’ll tell the story. Major corrections are healthy and necessary.
2- People will take profits at the psychological cliff that is Bitcoin $10k.
You're probably right there. Even if you even have a little understanding of economics you realize there has to be some sort of correction down the road. No rocket science.
And MOST important:
3- Institutional (Wall Street) money WILL eventually take control of these price movements. And when they do, they’ll shake you guys out (the little guys who have no understanding of price movements, TA analysis, etc) and when you all sell after a major drop, they’ll happily buy your BTC. At that point, we’ll see MUCH LESS volatility, because ALL of these guys trade their hundreds of billions on chart analysis, which in turn creates much more predictable price movements. Herd mentality.
LOL. What a generalization, do you really think hard core bitcoiners will leave the game that easily? You're under estimating us boy. Lots of bitcoins are locked away for the long term. Sure, those who are only in it for the money will be more likely to give into the FUD and "herd mentality" (probably still a majority but not all of us).
Most of you guys here are concerned with forks, and pumps and dumps, and ICO offerings and whether it’ll hit $50k in 2018 when in reality, the really big guys are on their way to shake you the fuck out of the value YOU created. I think most of you will lose your asses. Do you know how to trade the way they do? Or did you buy a handful of coins at $2k and are up, not because of some continued investing geniousness but rather simple luck in buying into an asset that has seen only one overall chart trajection thus far? They’re not going to buy in at $10k, that I can guarantee. But they DO want in. And they need to get in, if Bitcoin is going to retain its value in a much more stable way as it weathers its scalability, usability and regulation growing pains. Exchanges know this, that they need societal integration, and that it won’t happen without big bank investment. That means the little inexperienced guy has to get out of the game.
WRONG. I'm yet to partake in an ICO. And again the people who do are only in it for the money and don't really care about bitcoin if they closed their position.
I was able to snatch up some at relatively low prices but that doesn't mean I just got lucky. I recognized the potential in the long run and pulled the trigger and bought. And I will hold the f*ck on for dear life if I have to. Let them come with their institutional money, my body is ready.
