BTC - Retail investors are getting smarter
Something very interesting happened the other day...
When bitcoin crashed from $8k all the way down to $3.8k one might expect retail would be staying far far away.
However, from my experience, the opposite happened...
I had at least 4 different people contact me within a couple hours of that big drop happening asking me if it was a good time to buy bitcoin.
Hmm... perhaps retail is getting smarter.
(Source: https://news.bitcoin.com/greatest-bitcoin-memes-2017/)
Retail never really went away, they were just burned so badly the first time due to that big drop in 2018 that they have mostly been on the sidelines.
Well, with drops like we just saw, and a smarter class of retail investors, perhaps they will making their way back in.
Stay informed my friends.
-Doc
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Bought back in myself when it hit 5k, sold and bought for a little while and made a few hundred. Now I am just sitting tight to see what happens but i have a small chunk riding the waves for now. Down over $100 at the moment but not worries in the slightest.
I don't trade it, I learned that lesson years ago. I buy on dips and HODL.
Yeah we might go even lower again before this is all done with but once it is we will see a nice recovery. Very good opportunity the lower it goes the better another opportunity to accumulate before we go on that next good run. As the halving is this year once the coronavirus gets under control all will be well. For now just need to remember 1btc is 1btc if your in it long as long as you don’t sell you are good, unless you could time it good and sell and buy back again for lower prices of course that is said easier than done.
I think we are going to see a massive rally later once this blows over and easy money is still in the air, plus you know, the halving.
Just because something is priced lower does not always make it a good value. If BTC was once priced at 14,000, being priced at 5,500, is it cheap or a good value. How does one value BTC, based on momentum, current price, or something tangible. Price should not be the only determinate of value.
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How does one value gold? Or any crypto project?
At one time gold was valued as a certain dollar value to a weight of gold and silver. Since Nixon took us off the gold standard, that ratio was lost.
In the Coinage Act of 1834, Congress adjusted the gold eagle: "Each eagle shall contain two-hundred and thirty-two grains of pure gold." This brought into legal equivalence 3712.5 grains of silver and 232 grains of gold. The ratio was 1:16.
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Truth! Honestly this situation is a failure for bitcoin. Everyone said bitcoin will be the thing that takes off next crisis. It’s down from $9000
It’s down more then the Dow and has been literally moving with markets both directions since this crisis started. It’s loosing credibility , let me rephrase that, the bitcoin max guys saying store of value and savior in crisis have been wrong. It’s not impossible it surges again but the story is failing.
The price and action is the story, the HODLers continue with stories that a surge will happen after the halving, but give us legit justifications as to why, just not hopium and hoping someone else buys and the HODLers wait to get out at a higher price.
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