I think the fear has reached an extreme far higher than anything in 2014 yet. People (including me) are talking about getting back to work, putting castles for sale, and the price reaching $100-$200 in a matter of weeks.
Typically, extreme fear is associated with prices that in nearly all timeframes provide far above-average returns. Unlike most extreme fear situations, the one in Bitcoin now is very easy to capitalize on, because bitcoins can easily be bought 24/7.
Even if buying more is not a realistic option due to the portfolio already being heavy in BTC, selling is generally not warranted unless you want to be one of those taken advantage of.
Typically, extreme fear is associated with prices that in nearly all timeframes provide far above-average returns. Unlike most extreme fear situations, the one in Bitcoin now is very easy to capitalize on, because bitcoins can easily be bought 24/7.
Even if buying more is not a realistic option due to the portfolio already being heavy in BTC, selling is generally not warranted unless you want to be one of those taken advantage of.
Risto I'm curious, I assume your opinion is that this is just temporary noise but if bitcoin were to EVER die out, how would you expect it to unfold and at what time?
WAYYYY too much new adoption, and, importantly, WAYYY too much new infrastructure and VC participation for this to be any kind of swan song. We're still REALLY early in this story, not really late.
Right but how can you be so sure??
I mean, even though with all these good news and hype, there just seems to be no buying pressure and we barely had any bulltrap at all.
It doesn't make sense to me
Also the fact that everybody seems to be so sure that it's not dying out any time soon worries me
