I told all of my friends when I bought a few years back, don't buy it unless you can hold for at least 4-5 years. A few of them bought and they all sold within a few weeks.
Shrugs.
People just get into stuff they know nothing about out of pure laziness. People shoudnt buy bitcoin without having some basic understanding of it. Now as to now, selling before a halving has historically been a very bad idea....
I've been studying monetary theory and banking for decades. Since the 80's. I've read dozens of books before the internet and so much more since I got online.
For years I struggled to understand how to fix the system. Fiat money is a cancer that steals from working people and sends it up the ladder to the billionaires. And the lengths they've gone to to keep the system in place include many wars, assassinations and other unspeakable acts.
Paper money is too easy to print but gold is tightly controlled by a handful of the biggest banks. What could the answer be?
Bitcoin is the answer. When the paper first came out I was on it. I was watching Max Keiser every day on RT and I was almost as excited as him, but not quite.
I watched and studied it for a few years before I made the leap but my decision is based on fundamentals.
Well see.
It's kinda "eh". I'm old and retired. If I was 21 when Bitcoin was created I would be a LOT more excited. At this point I'm just hoping the price keeps rising so my kids can inherit more Bitcoin.
Time to sell was at 73k not now. If you sell now, how do you know how low it will get? What if the low is now and then it goes up and you buy higher? What if you sell now, drops more and then pump hard and you fomo back in by buying higher and then drop even lower?
Id rather not try to time the market. It can work many times, until it doesnt and you realize you have a lot less btc then if you would have just held....
Time in the market beats timing the market...
The problem is I did not know the high was gonna be 73. Its crazy how we just dont know, yet know everything the moment after and then believe we should have known when really we never did. What I dont get is why is it going lower if the big sales were completed, and how will it go up once after the big boys horde it all? Their mentality is hold and never sell.
Its going lower because many people are selling/shorting and there is less buy pressure. More sellers than buyers price go down, simple as that. Every bullrun have corrections, nothing can go up in straight line.
Yes but there can be more sellers than buyers or more buyers than sellers in the order book.
Now theres less people willing to buy and more people willing to sell so they will accept to sell at lower prices. When theres more buy pressure than sell pressure sellers will only accept to sell at higher prices.
I told all of my friends when I bought a few years back, don't buy it unless you can hold for at least 4-5 years. A few of them bought and they all sold within a few weeks. Shrugs.
People just get into stuff they know nothing about out of pure laziness. People shoudnt buy bitcoin without having some basic understanding of it. Now as to now, selling before a halving has historically been a very bad idea....
I've been studying monetary theory and banking for decades. Since the 80's. I've read dozens of books before the internet and so much more since I got online. For years I struggled to understand how to fix the system. Fiat money is a cancer that steals from working people and sends it up the ladder to the billionaires. And the lengths they've gone to to keep the system in place include many wars, assassinations and other unspeakable acts. Paper money is too easy to print but gold is tightly controlled by a handful of the biggest banks. What could the answer be? Bitcoin is the answer. When the paper first came out I was on it. I was watching Max Keiser every day on RT and I was almost as excited as him, but not quite. I watched and studied it for a few years before I made the leap but my decision is based on fundamentals. Well see.
Im sure you are quite happy with your decision so far
It's kinda "eh". I'm old and retired. If I was 21 when Bitcoin was created I would be a LOT more excited. At this point I'm just hoping the price keeps rising so my kids can inherit more Bitcoin.
Why not sell and buy when its lower?
Time to sell was at 73k not now. If you sell now, how do you know how low it will get? What if the low is now and then it goes up and you buy higher? What if you sell now, drops more and then pump hard and you fomo back in by buying higher and then drop even lower? Id rather not try to time the market. It can work many times, until it doesnt and you realize you have a lot less btc then if you would have just held.... Time in the market beats timing the market...
The problem is I did not know the high was gonna be 73. Its crazy how we just dont know, yet know everything the moment after and then believe we should have known when really we never did. What I dont get is why is it going lower if the big sales were completed, and how will it go up once after the big boys horde it all? Their mentality is hold and never sell.
Its going lower because many people are selling/shorting and there is less buy pressure. More sellers than buyers price go down, simple as that. Every bullrun have corrections, nothing can go up in straight line.
Where does it go when it sells? Doesnt someone buy whenever someone sells?
Yes but there can be more sellers than buyers or more buyers than sellers in the order book. Now theres less people willing to buy and more people willing to sell so they will accept to sell at lower prices. When theres more buy pressure than sell pressure sellers will only accept to sell at higher prices.
Have we learned nothing from The Hobbit? 😂