"Be Fearful When Others Are Greedy and Greedy When Others Are Fearful" is the only thing to apply in investment.
I remember during the bubble of 1200$, people were only talking about the price, not about the bitcoin it self and its technical aspect.
It was a bit nauseating, people reported trying to sell people to all their family, some posted that people thanked them because they doubled their money in a few months and so on ...
This is not the final goal, for me bitcoin should be seen as a way to use money, not an investment in it self (even if I believe it also has potential).
we have to accept it that a lot people are in bitcoin because they see it as a tool to make money. which it also is. bitcoin is a great investment tool. these people simply don't care about the technical aspects. they also don't care whether bitcoin is being accepted by a lot merchants throughout the world. they only are interested in quick profits, but they are free to use bitcoin the way they want.
Yeah Of course some people are in only for the money, I don't really blame them. Bitcoin is an opportunity everyone is free to use it as they please.
The problem was that people at the time were only posting about its value, nothing mattered except money. It was like a frenzy, probably comparable to the gold rush.
That's what I felt anyway.
It was fun to see the depressed people afterwards.
