The chart below shows how dangerous it is to buy bitcoins at these levels.
The lowest line of the red square is where the price is at this moment.
The total volume of all transactions in the red square (starting dec,6) in $ value is around $7,955,225,307.08
This means that for this amount bitcoins changed ownership. We can assume that people who bought in this short red square did not sell yet, and that sellers were mainly people taking profits. This leads to the conclusion that there was a huge transfert of wealth of $7,955,225,307.08 from the "cannon meat" to people who made big money at these crazy prices. As price is where he was 1 month ago all these transactions represented selling thin air.
Those who sold made in this period between zero and $5,500 extra profit; those who bought made in best case no loss, but also no profit; but in worse case they lost $5,500 for each bitcoin.
From point of view risk/reward I have serious questions.
Imagine how huge the losses will be if the bitcoin would go under $10,000 or even $5,000. This will cause huge financial drama's for the "cannon meat" people.
View attachment 180945