Bitcoin FOMO is too strong | Bitcointalksearch.org

fanbeila

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Quote from: burnedbyfees on December 07, 2017, 09:06:32 PM

Quote from: artmaker on December 07, 2017, 08:59:37 PM

RIP Bitcoin Cry

To be honest i really dont like with bitcoin price right now Grin

My plesure to see bitcoin price sink to the ground Cheesy

not hate Bitcoin just hate the price movement, just to ridiculous

It going into the ground hurts us all, no matter what coin we're in. Like it or not every coin is tied to Bitcoin's fate.

I definitely don't want to see it crash and burn but a correction is needed. Either we have a small one now, say back to 12k, or the pump continues and we have a huge crash and Wall St laughs at us.

At the moment we are adding fuel to the fire ready for when they try to burn Bitcoin down.

Yes,the price rise makes me too scary.I'm just waiting for a correction since it would be the best for bitcoin's progress in the long run.Such a high surge in price within a small duration is not good for progress of any asset or stock.I hope that it would soon drop to $10,000.I hope that everything would get settled after bitcoin futures get listed in exchange.

CyberKuro

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Everyone who involved in crypto-world has two options, hold or sell.
Many people afraid of bitcoin price get pumped so fast, it can raise more than $1000 within a day, but big investors buying bitcoin at cheaper prices if you decide to sell.
But the fomo n my opinion is; you may miss the chance to get profits by sell bitcoin at a higher price and buy back at a lower point after bitcoin get corrected.
Well, the best option for me is just sell a small amount of bitcoin at a time when bitcoin reach a certain price, as we know the price will continue to increase over time.

vqscyxuo

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Bitcoin may be a conspiracy. It is said that the game is set up in the United States, so that when the game is to end, it will ruin more than 90% of the people. The strength of the bitcoin that we see is not true.

Reid

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Same thing I was thinking this past few days.
Is this still acceptable for the government? Are we on the brink of losing the value of our coins?
What is going to happen to us if ever that happens. I mean if they take it down.

That is all going through my mind because of this fast pace of increase in bitcoin price. I hope it stop for a week to let it all calm down. This is getting very stressful now. Grin

777Jolami

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fomo is a relatively common phenomenon in the crystalline market. Not only with bitcoin, but with many other coin. We need to be alert to avoid fomo

burnedbyfees

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Quote from: piloder on December 08, 2017, 03:34:04 AM

Quote from: burnedbyfees on December 07, 2017, 08:24:24 PM

I say this because I love Bitcoin. This is not healthy for Bitcoin or the market and not sustainable. It's too much too fast. They are pumping it up to short.

Yes but this surge might only last till bitcoin futures will start trading, FOMO around bitcoin futures is strong that is behind the current huge surge in bitcoin price.

When FOMO will be over, people will start to buy altcoins again. We need some correction to have healthy price growth in bitcoin.

I think you're right. Bitcoin futures will be a fad that will burn many people when Bitcoin keeps rising. I just hope the initial manipulation and dumping won't set us back too far.

RockBar0

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exactly. FOMO is a basic effect. but very few people can avoid it. bitcoin prices are rising. greatly increased by the day. People can control bitcoin prices in a short time. but for a long time. they can not

burnedbyfees

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Quote from: Pursuer on December 08, 2017, 03:08:12 AM

the alts drop because the yare pumped and because they are useless.

Really, all of them? Even the ones that are massively technologically superior to BTC? Which let's face it, is almost all of them at this stage.

There are many useless alts for sure, but that's quite an ignorant statement. I keep most of my portfolio in BTC but there's many amazing alts.

piloder

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Quote from: burnedbyfees on December 07, 2017, 08:24:24 PM

I say this because I love Bitcoin. This is not healthy for Bitcoin or the market and not sustainable. It's too much too fast. They are pumping it up to short.

Yes but this surge might only last till bitcoin futures will start trading, FOMO around bitcoin futures is strong that is behind the current huge surge in bitcoin price.

When FOMO will be over, people will start to buy altcoins again. We need some correction to have healthy price growth in bitcoin.

Pursuer

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Where is my ring of blades...

Quote from: burnedbyfees on December 07, 2017, 08:24:24 PM

This right here is not a healthy looking chart:

it is perfectly healthy up until $10,000 and then things got weird, I wouldn't still call it not-healthy, it is all about the adoption.
remember when the media was repeating how bitcoin is not safe, how it is "fraud" and it is dead, and all that bullshit. that kept a lot of people away from bitcoin. now all of them had a wake up call and now are buying. even if every one of them buys a tiny amount this rise happens like this. pretty simple.

Quote

You've all dropped alts and bought into the pump and we could all get rekt very hard.

the alts drop because the yare pumped and because they are useless.

iram1011

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Quote from: bitfools on December 07, 2017, 10:47:18 PM

Quote from: jamids on December 07, 2017, 10:43:08 PM

Seeing the current bull trend of bitcoin, it makes me nervous each time it surge because I am thinking how low will it be when it makes the correction and besides that, it seems this signs are showing to what is happening right now. Maybe it will happen sooner or later or maybe it will be different this time around. Whatever happens, we should always be ready when the storm comes.

Quote

I'd like to present the works on major bull trends by H.M Gartley who wrote Profits in the Stock Market (1935).

How to recognise a bull market ending.

1. The daily volume has risen to an all time high.
2. Wide daily fluctuations are a regular occurrence.
3. Nearly everyone you meet appears to be in some way interested in the market.
4. Most financial news writers and financial commentators can see no reasons for any important decline.

"The thought of a bear market being around the corner is not seriously considered".

"A bear who presents what appear to be sound and logical reasons why a collapse is imminent, is considered to be either an out-and-out dyspeptic, or at least a very unpatriotic citizen."

"He can count on being very unpopular".

"Each bull market breeds a crop of traders who fail to recognise the unmistakable signs of a storm."

This is quite different, could be applied to GOLD, BITCOIN is not going away.

Traditional STOCK in 1935 was just paper pulled out of their ass and traded on WALL-STREET, not unlike US Dollar fiat today, printed to infinity with zero cost to FRB

BITCOIN represents a new shell, a new totem, a new way for mankind to represent his wealth and transmit it anywhere in the universe.

But why bitcoin? Why not any other better cryptocurrency?

There are tons of cryptocurrencies better than bitcoin and have actual utility which bitcoin lacks. Bitcoin is just a store of value right now and a technology can't be a store of value because technology goes obsolete. I don't believe bitcoin will sustain it's value just on the basis of an alternative to traditional monetary system when there are better technological options available. A cryptocurrency is definitely a future but it won't be a bitcoin.

burnedbyfees

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I was expecting to get some hate for posting this in the Bitcoin forum, but most of you have been very reasonable and willing to debate.

I'm glad many see it the way I do, maybe it will cool down a bit and take a breather before big gains again. I hope so, pumps always end bad.

Thanks for your opinions so far.

trk

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This last pump is too strong within a short period of time
When this kind of pump is happening, we'll be seeing a large dump usually, hope it is not the case with bitcoin this time

Phalo

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Quote from: burnedbyfees on December 07, 2017, 08:24:24 PM

This right here is not a healthy looking chart:

The "old money" guys right now are getting ready to teach us all a valuable lesson, with the daddy of all pumps and we're all walking right into it, because FOMO.

https://www.bloomberg.com/view/articles/2017-12-06/bitcoin-bears-are-excited-about-futures

You've all dropped alts and bought into the pump and we could all get rekt very hard.

Dash = 0.03740196
Ltc = 0.00545000
Eth = 0.02418501
BTC dominance = 67.5%

I say this because I love Bitcoin. This is not healthy for Bitcoin or the market and not sustainable. It's too much too fast. They are pumping it up to short.

I agree, the price of bitcoin is way too high now. That chart is not healthy at all. However I dont think a tragic crash is coming. I think its just a realisation from people with money that digital cash is here.

artmaker

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Quote from: bitfools on December 07, 2017, 10:40:30 PM

Quote from: 8270thNinja on December 07, 2017, 09:59:04 PM

That might happen. World war vs Bitcoin. We cannot set aside that these Bankers is attacking Bitcoin without ceasing and that's the fact that we should understand, they will not let Bitcoin to take over the Fiat that they worked hard to earn up to this day. As of now a lot of people have been giving too much attention to Bitcoin, as we can see the price changes for the last 24 hours, we can now consider that there is a legit FOMO here and with that being said, correction and dip is really possible.

The average life of all FIAT in history is 45 years, bankers know this, men of means know this only IDIOTS think that the USD is 'forever'

BITCOIN will replace the notion of the SDR, it will go to $1M USD

Country's will have their own alt-currency's

Time will come that GOV's will collude to BAN the little guy from creating his own crypto, or even mining without a GOV license,

Knowledgeable ppl need to be thinking about privacy, and keeping the current system out of the hands of government centralization.

Bankers KNOW that the era of PAPER-MONEY is over the Era of Crypto-Money has begun.

Lol you have big imagination, again im not bitcoin hater, i love bitcoin.
but be realistic kid, please, it's not 100% about the money when people talk about goverment and bitcoin Roll Eyes

burnedbyfees

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Quote from: Aaroenz0r on December 07, 2017, 10:55:47 PM

Well, I think that is just a normal thing before the hard forks. All people wanna receive free coins. This wave will finish soon after the hard forks.

Do you really think this is down to the Bitcoin God fork? I've barely heard anything about it. All these forks are retarded.

I don't think enough people care this time for that to be the sole or main reason. Maybe it could contribute.

ChinkyEyes

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Activity: 687

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Quote from: bitfools on December 07, 2017, 10:40:30 PM

Quote from: 8270thNinja on December 07, 2017, 09:59:04 PM

That might happen. World war vs Bitcoin. We cannot set aside that these Bankers is attacking Bitcoin without ceasing and that's the fact that we should understand, they will not let Bitcoin to take over the Fiat that they worked hard to earn up to this day. As of now a lot of people have been giving too much attention to Bitcoin, as we can see the price changes for the last 24 hours, we can now consider that there is a legit FOMO here and with that being said, correction and dip is really possible.

The average life of all FIAT in history is 45 years, bankers know this, men of means know this only IDIOTS think that the USD is 'forever'

BITCOIN will replace the notion of the SDR, it will go to $1M USD

Country's will have their own alt-currency's

Time will come that GOV's will collude to BAN the little guy from creating his own crypto, or even mining without a GOV license,

Knowledgeable ppl need to be thinking about privacy, and keeping the current system out of the hands of government centralization.

Bankers KNOW that the era of PAPER-MONEY is over the Era of Crypto-Money has begun.

Yes I agree with you, there have been some signs in the news recently. The Deutsche Bank announced not so long ago that the end of fiat based system is near. https://cointelegraph.com/news/deutsche-bank-strategist-says-end-of-fiat-based-currency-systems-near-recommends-bitcoin
There is a huge chance that the banks will buy up bitcoin and governments/large cooperation's will start to control all of the mining. Making their new currencies bitcoin backed. Venezuela is starting it, it will not take much longer before other countries will replace their fiat with a crypto currency.

Aaroenz0r

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Activity: 504

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Option Blitz

Well, I think that is just a normal thing before the hard forks. All people wanna receive free coins. This wave will finish soon after the hard forks.

burnedbyfees

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Quote from: jamids on December 07, 2017, 10:43:08 PM

Seeing the current bull trend of bitcoin, it makes me nervous each time it surge because I am thinking how low will it be when it makes the correction and besides that, it seems this signs are showing to what is happening right now. Maybe it will happen sooner or later or maybe it will be different this time around. Whatever happens, we should always be ready when the storm comes.

Quote

I'd like to present the works on major bull trends by H.M Gartley who wrote Profits in the Stock Market (1935).

How to recognise a bull market ending.

1. The daily volume has risen to an all time high.
2. Wide daily fluctuations are a regular occurrence.
3. Nearly everyone you meet appears to be in some way interested in the market.
4. Most financial news writers and financial commentators can see no reasons for any important decline.

"The thought of a bear market being around the corner is not seriously considered".

"A bear who presents what appear to be sound and logical reasons why a collapse is imminent, is considered to be either an out-and-out dyspeptic, or at least a very unpatriotic citizen."

"He can count on being very unpopular".

"Each bull market breeds a crop of traders who fail to recognise the unmistakable signs of a storm."

Mr. H.M Gartley is either a time traveller or it's a familiar pattern. He nailed it I think, just the terminology and the method have changed, it's not "unpatriotic" anymore it's "spreading FUD" . Bitcoin needs a healthy correction or it will fall into this trap.

bitfools

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Quote from: jamids on December 07, 2017, 10:43:08 PM

Seeing the current bull trend of bitcoin, it makes me nervous each time it surge because I am thinking how low will it be when it makes the correction and besides that, it seems this signs are showing to what is happening right now. Maybe it will happen sooner or later or maybe it will be different this time around. Whatever happens, we should always be ready when the storm comes.

Quote

I'd like to present the works on major bull trends by H.M Gartley who wrote Profits in the Stock Market (1935).

How to recognise a bull market ending.

1. The daily volume has risen to an all time high.
2. Wide daily fluctuations are a regular occurrence.
3. Nearly everyone you meet appears to be in some way interested in the market.
4. Most financial news writers and financial commentators can see no reasons for any important decline.

"The thought of a bear market being around the corner is not seriously considered".

"A bear who presents what appear to be sound and logical reasons why a collapse is imminent, is considered to be either an out-and-out dyspeptic, or at least a very unpatriotic citizen."

"He can count on being very unpopular".

"Each bull market breeds a crop of traders who fail to recognise the unmistakable signs of a storm."

This is quite different, could be applied to GOLD, BITCOIN is not going away.

Traditional STOCK in 1935 was just paper pulled out of their ass and traded on WALL-STREET, not unlike US Dollar fiat today, printed to infinity with zero cost to FRB

BITCOIN represents a new shell, a new totem, a new way for mankind to represent his wealth and transmit it anywhere in the universe.

Topic: Bitcoin FOMO is too strong (Read 992 times)