No one is telling anyone to bet the farm on BTC; however, you talk about $3k as if it has some kind of high probability of happening, and apparently your portfolio does not represent such pessimism. So maybe you should temper your language a bit to be better in line with your portfolio holdings rather than painting some kind of doom and gloom scenario as if it were pending and imminent.
Actually, I agree with your point that a 50%-ish correction is not necessarily unrealistic, but we already had a 40% correction, recently, and there still remains a decent amount of uncertainty regarding the severity of the threat of any of the upmanship attacks on bitcoin... yeah they keep upping and upping the ante in terms of their attempts for destruction and disruption, but in the end, are these threats going to materially play out in a meaningful way? In that regard, you better fucking hodl onto your coins because even if we are getting down, we may well get up before we get down... so you are going to want to sell some more priro to any potential 50% or greater correction - that may well come after a further pump - even a 2x pump.
So no one is saying that BTC is the be all end all coin.. or that these attacks are not likely to have any effect.. but it is a matter of when.. and what might happen first before the supposed calamity that you proclaim kicks in.
Even a sudden 50% correction would be not doom &gloom. Quite the contrary for those prepared for it and still long term bullish.
I already posted before why a significant correction looks due soon (we had a couple recently in july and september, and now the price is quite high above the 100-day SMA looking ripe for some cashing in). Moreover the technicals and candlesticks patterns at this moment are not so bullish.
So I'm now keeping some cash on exchanges, which is not so bad (unless it's finex:
https://medium.com/@bitfinexed/wash-trading-bitcoin-part-ii-who-and-why-is-someone-wash-trading-on-bitfinex-e1c7b5e0b3bb ). If I won't use it to buy cheap coins I'll find other uses for it. The hardliners who are all-in instead will be REKT at the first major correction and will have no dry power to spend on cheap coins.
Maybe that is part of the problem with your previous lines of posts? You seem to be trying to characterize people as hardliners? As if we do not have any plan for down, and you are the only one adequately planning for down?
Yeah, sure, there are some of those people (bulls that you seem to be describing) that are expecting down and are giving little to no weight to the possibility of down. so what. Let them bet everything on up, but I really doubt that there are as many of those supposed hardliners as you expect, and many folks who are preparing or planning for up do not expect any kind of straight line movement for up, and they also might not feel comfortable selling 20% of their stash, like you did, because they have been screwed before by selling too much and then not being prepared for up.
So, anyhow, you come off as a bit of a snake oil salesman who is trying to get others to sell a bit in order to better prepare for down, and in that regard kind of lecturing some kind of supposed higher wisdom that you are proclaiming. Am I wrong?
I agree that everyone should prepare for both up and down, but if someone does not feel comfortable selling, then why sit there and try to pressure them and rub it in, except seems that you want to talk your book here, rather than realistically share BTC price direction predictions that you have.
) and who knows maybe he'll become a zealot too!
