The only reason to buy bitcoin, is the thought of selling it for more at a later date. I think we've got all the bag holders in now. Time to liquidate.
Bitcoin hit a high of $8,458 today on coinbase. I'm calling it. This is the end of Bitcoin
- Thread starter peilthetraveler
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I suspect most bitcoin "experts" on this site have never traded it.
It just seems like now is a good time that all those hedge funds/VC funds that bought 100s of thousands of bitcoins are going to flood the market any day now. Especially since there seems to be a huge amount of buyers right now willing to cash them out. They've made a good return so far and they have to think...are they going to be able to sell if bitcoin goes to $50,000? Who'd they sell to when the market cap gets to $1 trillion? Who'd buy at $50k per coin?
I believe bitfinex lets you short at something like 3-1, but it's been years since I looked into it so don't quote me.
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