Topic: Where is the money going to come from to rally bitcoin? - page 4. (Read 4369 times)

lol then I guess your never going to buy bitcoin again because $437 was the bottom

I would never invest in bitcoin at these ridiculously high prices. I bought some bitcoins around $700-$900 at that time to gamble with alt-coins which I made money on. I then sold everything I owned when bitcoins were $800 because it was obvious that this was all going to fall apart.

I have my past posts to document all this, and I told everybody I was going to do that and how bad of an investment bitcoin was at that time and still is even at $500.

I guarantee you, no insiders bought before the China ban news came out! but they did buy at the bottom!

The news has NOT been positive!

Large investors buy when there is blood in the streets, they are buying now.

What are you talking about?

Smart money buys in before the media attention, then they sell at the peak of the media attention or the top of the bubble, way before all the negative media attention that you see now.  That is why there is negative media attention and the price has been falling because the smart money cashed out a long time ago and are not buying anymore.

It is highly doubtful that any smart investor is going to buy bitcoins for $500 dollars, that is the whole point of what I wrote. It is a bad investment at these prices. I have said this all the way down and for a long time now, even when it was at $1000 or $800.

I do not understand how you completely turned around what I wrote.

  nicely said

OP, sounds like you recently unload a large sum of bitcoin, do you understand that you were able to do that because you are dead wrong?

congarufuckinglation.

Think about what you are saying here,

The media attention has been negative. that means they sold before the media attention.

now they are buying before the next round of good media attention.

There is a little more than 5 Billion dollars in the world.

u just sold at the bottom again??

Do you think Warren Buffet is going to tweet his status as he bank wires all his cash into BTCe to buy one billion dollars worth of bitcoin?

No, first he will have you believe that he doesn't want it, then he will buy all the bitcoins he can get his hands on at the very peak of disaster (NOW!) because people will just give them to him! no market moving necessary!

PS. I am using the example of Warren Buffet metaphorically.

where will the fiat come from? have you forgotten?

wall street, ebay, pay pal, hedge funds, US junk credit, Banks, and billions of dollars worth of speculators with their fingers on the trigger ready to front run all of them!

Yeah I guess that's the best way to put it. Smart money is not going to be buying right now. They buy in before any media attention, there has been plenty of media attention actually much more than I could have ever imagined.

Smart money puts their money in smart investments, and bitcoin just is not that. It is a highly risky investment and will require a lot of pumping, something which smart money will not gamble with.

I just do not see it as an investment. Where I went wrong was I planned on buying bitcoin when it had a long term stable price after the first bubble. That would have been when it was stable and rising from around $8-$12 dollars for over a year.

 That was the best time to put your money in and I did not because I was not even watching bitcoin at that time.

 Right now at $500 bucks, that is just crazy. Maybe it can go to $1000, but it simply is not worth the risk as it probably will not go that high.

Reading these forums will fool you because most people here bought in at really cheap prices and are just pumping what they own. These same people will not be spending their money on $500 bitcoin, they are not that stupid. Then you have a few new people who are trying to "get rich quick", you will always get those idiot gamblers.

Those giant spikes up are caused by delusional dumb money (i.e. general public) during a media driven hype. Smart money buys low.
It wouldn't surprise me if bitcoin will be hyped up again after some kind of 2008-like financial crash, which is likely coming in the next year or two.

my pocket

One thing I can not figure out is where is the money going to come from to rally bitcoin?

What I see is most of the bitcoin community are people who own a lot of bitcoins for really cheap. They simply are not going to be buying them at these high prices, or at least not enough to make a difference.

China, which some people say is the reason why bitcoin rallied so high, looks to be out of the game in a big way.

With all the negative news, most new people are not going to invest any serious cash in what looks to be a big Ponzi scheme.

So I ask where is the money going to come from now? Everybody on here just magically wants to become rich but it is going to take money, and a lot of money to push the prices higher. I just can't figure out where this money will come from.

I still think the prices are way too high and unsustainable. I do not think the community is that much larger since bitcoin was at $12 dollars a year ago. Now you don't have the largest country in the world adapting it to pump up those prices.

I've said it before and I will say it again, Bitcoin at these high prices is a very bad investment. You are taking on so much risk right now for a limited reward. The times of buying at $10 with the possibility of it going to $100 or higher are over.
It will take substantial amount of money to get the reward you deserve for investing in such a risky asset.

You are far better off placing your money in the stock market and betting on a single stock. At least you know your money is safe.