Maybe it's time that we stop being delusional.
For 6 weeks or so everyone expected a huge break out. I think by now it's clear it's simply not gonna happen. At least not now.
Nothing even slightly points that way either. Really, there is no reason i can think of why we suddenly would go to the moon.
I'm a bull and will always be but i'm starting to cringe every time i see people adjusting their charts and lines and chicken bones to show how we will go up in 2 days from now. You just keep changing the dates and lines because nothing happened at the previous date.
I never seen so many people in denial and simply delusional here before.
I think it's better if you start facing the facts.
I agree, and I really think the slow to a crawl during the summer months just proves and underlines the fact that the Bitcoin market is still RULED by:
1. Adolescents that only want to speculate during off-summer periods. During summer it's all vacations, beers, chasing skirt, and happy fun time. I bet if we did an honest poll, we'd find that > 90% of all bitcoin holders are under the age of 25. Also points the the overall maturity level of the existing market (no offense to anyone here).
2. Whales that only want to speculate during off-summer periods. "Sell in May and go away." And without major news on the near term horizon, they know they won't get the run up that they need to make serious money. We need to keep in mind, that these guys get their insider info way ahead of the rest of the market, often months in advance.
Despite all the seemingly BIG news in the bitcoin investor media, this market is still extremely small. Ridiculously so. I mean c'mon, realistically we're still at what, maybe ~1M bitcoin holders worldwide at best? That's both the good news and the bad news, all rolled into one.
