Tractor Man wrote:
Bucketeer wrote:You might be right, I'm HODLing. I've got nothing to lose.
Yes, we know. You've been very clear. But everyone else has to make decisions based on today's conditions and future outcomes are considered important.
What's that old saying? If I had a nickel for every time....
We should update it. If I had a bitcoin for every time some Wall Street Banker said it was going to fail, I'd be a bitcoin billionaire (cue Bitcoin Billionaire YT video)!
These Wall Streeters often want to make a name for themselves. There is a lot of competition on Wall St to stand out and get new $$$ coming in. One way to stand out is to make a splashy headline like Bitcoin will drop to $1,000. Do we see any evidence behind this theory? No. Merely a claim that bitcoin is a bubble and it will return from where the "parabola" started. Well, in that case, it needs to go back to $0.10. Why stop at $1,000? The true parabola started from about a dime in 2010. But we all know it isn't going back to $0.10. Why? Because there is a level of support that many people will never sell regardless the current USD price.
People like to say, "do you honestly believe the bankers & politicians will let bitcoin take over their monopolies on money and power? You're a fool." My response is it is now inevitable, and I think they have it backwards. Do you honestly believe, the cypherpunks, libertarians, honest money crowd will let a bunch of banksters and corrupt politicians kill bitcoin? Not a chance. I do NOT care if bitcoin goes back to $1000.
Now if you can't honestly make that same statement, then you have too much of your wealth already invested in crypto. People looking for the easy, fast money are the first ones to bow out of this space. If you don't get into crypto for the right reasons, then you will easily get emotionally beaten, likely sell for losses, and then blame crypto for your own recklessness. There is a reason that the very first post in the bitcoin beginner's thread answers the WHY of crypto before talking about how, when, what, or where because that is the most important question above all else.