To me, it looks like it is going down now.. Many of the bulls think speculatively that by selling now, it is easy to buy back later. While this thinking is wishful (not all of them can buy the coins back - sub-100 or even at all(!!)), it is enough to take the price down in a long slide to around $50.
Only the growing usage will save bitcoin now. It may take months before it catches up. We are 2 months to the bear market now, I would not be surprised for 2 more months. 4 more would be a surprise.
Don't sell your coins. In 2011 only the ones lost who sold. I bought about BTC5000 then from somebody who could have held onto his treasure but chose to throw it away for a pittance. Read my threads (links in the sig). Don't sell.
Only the growing usage will save bitcoin now. It may take months before it catches up. We are 2 months to the bear market now, I would not be surprised for 2 more months. 4 more would be a surprise.
Don't sell your coins. In 2011 only the ones lost who sold. I bought about BTC5000 then from somebody who could have held onto his treasure but chose to throw it away for a pittance. Read my threads (links in the sig). Don't sell.
You can't be sure the guy who sold you 5000 Bitcoin didn't buy double that back at the bottom.
Maybe he did, but not in a lump sum so there isn't a rally? It makes sense for him to keep the downtrend going until he is almost out of fiat.
And thanks for being honest and admit you were wrong, not many are able to do that on a public forum. You have my respect for that. 
