Coincidentally there will be a similar image on all the bitcoin exchanges when the crash comes. I remember in the tech crash of 2000, the big only broker I used called Datek got swamped with sell orders and went down. Nothing worse than trying to get out of a position and the webpage for your broker is down. Its going to happen to bitcoin in a bad way.
Even the TV show comedy sitcom Big Bang Theory did a whole episode about bitcoin this week. My wife hadn't heard about it somehow (lives under a rock I guess). Now she's like why are we not invested in this. I said good question... We should have each put $1000 in years ago so we could be retired right now.
Is this the critical mass bitcoin needed to put in a top? When everybody thats wants in gets in, thats the top.
yeah could very well be! this week (yesterday in particular) was about as close to outright insanity that we have seen with bitcoin since its inception. i mean you had just about everyone and their cousins talking about it. it was all over the news, social media, trading communities, you name it. i'm going to be closely watching to see how the new bitcoin futures open on sunday next week. should be really interesting.
Keep in mind that this is something everyone in the whole world can buy. Tell me a stock in Japan or China and not everyone in the whole world can buy it. Worldwide buyers mean endless gains or endless lows but something to keep in mind is when people buy they will only sell for a profit
I had started a thread about Zcash before which people did not pay attention to. Long ago I said these would do well.
yeah! you have been all over this since the very beginning! mad props and a great call @internationalstocks
Did we bet? Im still calling $25k because it sounds ridiculous. Also, we will wake up one morning to see a $15k drop overnight.
Here is something to keep in mind.. In September about 33,000 people were opening accounts on Coinbase. In November the number climbed to 100,000 accounts per day. The prices of Bitcoin pretty much doubled if not tripled since then and the account opening tripled. Those people opening accounts can only buy. They can not short so if you have that many people opening accounts the prices can only climb. This does not require Einstein to figure out. With that many people opening accounts at one exchange server and that is just one exchange server it really does not require a rocket scientist to figure out which way they will be headed. Since the market crashed in 2008/2009 for 9 years straight quarter after quarter in the US they only went up taking out every single person who tried to short. Remember when Amazon and Tesla were going up an people tried calling a top..? Remember Google..? One thing to keep in mind is that this is different because everyone in the world can buy this. This is not a stock to where just the locals can buy.
Every time a bitcoin futures market opens, it drops big time....the rich have already bought at the bottom. Now, only the public has opened accounts. That kind of tells me the rich are selling into strength, just like Apple at $700 and got shorted down into the $400's. Good luck. I hope you make a killing, but these insane moves are not for me. Specially since there is no way to protect your investment, other than futures.
Bitcoin is going up because people are buying. People are buying because it is going up. No argument there, but we all know that this kind of feedback loop ends very badly.
It's interesting that some businesses may look to cryptocurrencies as an alternative to funding projects. Guyana Goldstrike – Investigates Cryptocurrencies for Gold Mine https://www.youtube.com/watch?v=dJdsh0cWzoM&feature=youtu.be
The public will always serve as a liquidity vehicle for smart money - either when they want to lock in profits or when they want to panic weak holders to sell them their positions. The two are very rarely ever on the same side for prolonged periods of time. Let's not forget that crypto was designed to make fiat (paper) money disappear. So it's bizarre all these people touting gains in USD - it's just window dressing. Not to mention the liquidity isn't there for mass profit taking. Which is why we keep talking about the inevitable crash when the first big holder blinks. It's virtual musical chairs. No other way to describe it.
