Everyone is bullish. Longs are rising, shorts are falling. This makes me nervous. I believe in maximum pain theory, the idea that price tends to move where it will cause the most financial pain for the most traders. More and more it looks like a crash would bring maximum pain, not a rally.
I like when people are nervous when bitcoin is bullish, lol.
I'll say this. In 2016 there was much more skepticism and disbelief in the market, lots and lots of confident bears proclaiming impending doom.....and yet a bubble happened anyway. Now in 2020, now that there is widespread belief in a bubble, is it going to come?
I'm just saying when everyone predicts the same thing, it rarely comes true. We still might need to shake out some greedy bulls before this market can lift off.
Mike Novogratz said he would give up on BTC if it doesn't perform this year. Now that's the kind of skepticism I'm looking for! Sideways until 2021 please!
I can feel based on that statement that there is a market manipulation, the public prediction usually are wrong, the same would be applied in sports if you are doing sports betting, as they say, always bet against the public and you'll win most of the time.
I notice that as well, but as for me, I am more focus on long-term investing so I am bullish and at the same time I can also make some profit every time the market is dump as usually I buy at dip and sell when the price bounce back, doing that simple strategy makes me profitable in overall.
