I don't get it , are people this uninformed . we are at the start of a bear run , China banning exhanges , Daemon on national TV calling bitcoin a scam and worse , the totally arbitrary November hard fork . its a perfect storm people , just coz bitcoin was at 5000 a week back , and you wake up and see the dips , don't go all in thinking that it will go back up to it ATH . take a step back and realise , that its a huge bear run now , bigger than the bull run it was in for a while . things are heading south now , so your misplaced optimism is startling . ofcourse bitcoin is here to stay but there is a time and place to invest In it, and right now having a loaded gun and not pulling the trigger is what many experienced hands are doing . watching and waiting for the bottom to fall of .
wait for the month end (the deadline for Chinese exchanges to terminate transactions ) if its still heading south , then wait for mid October (the Chinese govt reshuffle ) if immediately after things look optimistic , then invest a bit , if not , then wait for the November hard fork , coz thats when shites gonna really hit the ceiling , we could see sub 2000 $ and beyond in that time frame if not sooner .
please don't listen to the naïve idealogues with their HODL and buy the "dip " platitudes. look at trends and the emotions involved and most importantly the Chinese Govt, bitcoin is something that is influenced greatly by emotions and the Chinese and the recent price bump is partly due to the newbs who bought into the hype and the dream of a :get rich quick" scheme and the Chinese buying up bitcoins like no tomorrow,
Nice article. No one was buying the coins for the GREAT new technology. They were buying because they wanted to make quick money. New coins were being added because companies found a way to raise capital when the banks would not lend it to them. We are now finding out that most of those coins and companies behind them are not worth anything. The banks and venture capitalist face this challenge every day when being approached for loans. They turn down most of them.