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RE: "The Bitcoin Prophet of Doom."

in #bitcoin7 years ago

When will people learn @hilarski.

No market, none whatsoever, goes up in a straight like. There is always an ebb and flow to things. Profit taking is one variable that always arises after a big run. There is also the speculation of bubbles and over extension. Finally, some just cannot believe that something would move like that and sell out of fear. Taken together, you get pullbacks.

In the crypto world, a 20% correction is nothing. Actually a 40% move is rather common too. Will BTC hit $5,000....I would be surprised if it did, but not shocked.

Even the most uber of bulls should know there will be corrections along the way. Hence there are two choices.

A). Exit on the runs and buy on the dips like you are doing.
B) Put the btc away and come back to it in a year or two like I am doing and simply ride the waves out.

Neither approach is presumes a straight run to the moon.