Bitcoin Price Thread

Pekelo said:
1. This is a fallacy of the infinite ATHs. You are assuming the 20K wasn't the last one, and there will always be an even higher high. History tends to disagree. Inventions that can be reproduced and copied freely tend to lose value over time.

2. Let's say you are right and there is a new ATH of 25K that happens to be the last one. Using your same logic you will hold through it and let it fall back to 6K, 3K whatever...
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You can have all the Dogecoins you want but there is only one Bitcoin and it is accepted as the Gold of the Cryptos

My logic of holding on now is that the price has already dropped too much to consider selling. When it enters the euphoric phase the next time I will take about 40% off the table and hold the rest. At what price level that will be I am not sure but probably at or above the 25K that you speak of.

Looking back now when it when up 4x in a month -- of course it would have been a great time to sell some but I was giddy with success and played it dumb.
 
Illini Trader said:
but there is only one Bitcoin and it is accepted as the Gold of the Cryptos
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This is just plain cultist bullshit. If God would take bitcoin away, the crypto march wouldn't even slow down, there are HUNDREDS and BETTER coins to replace it... Don't even try that kind of shit with us....

Just because you signed up for the bitcoin ponzi that doesn't mean the Dogecoin ponzi isn't as good...
 
not to gang up on a particular member......

but the posts from the longs are too typical results of brain washing... and 1 poster used the 'cultist' term perfectly.

I am flat so I don't care... but the longs really need to step back and rethink this thing thru here... at the moment you guys are all crowded and ready to be slaughtered with 4:1 long/short ratio, and this ratio is still increasing as we speak.
 
dozu888 said:
not to gang up on a particular member......

but the posts from the longs are too typical results of brain washing... and 1 poster used the 'cultist' term perfectly.

I am flat so I don't care... but the longs really need to step back and rethink this thing thru here... at the moment you guys are all crowded and ready to be slaughtered with 4:1 long/short ratio, and this ratio is still increasing as we speak.
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We've been at this back and forth for a while now. You're not changing our minds and we're not changing yours, that's the way it's going to be.

I do wonder what would happen if I post in here that you convinced me to sell all my cryptos, would that make you feel better? You say you don't care but you seem to care for us longs, as you keep trying to convince us to sell.

We're all responsible for our trades. And no, you will not convince me of anything as I do my own due diligence. How are your trades by the way? You seem to be doing well.
 
Illini Trader said:
My logic of holding on now is that the price has already dropped too much to consider selling. When it enters the euphoric phase the next time I will take about 40% off the table and hold the rest. At what price level that will be I am not sure but probably at or above the 25K that you speak of.
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Typical signs in your posting indicating your potential wipe out:
  • "the price has already dropped too much to consider selling" This confirms that the loss went already far beyond what was reasonable for you.
  • "When it enters the euphoric phase the next time I will take about 40% off the table" The typical reaction when desperate. If it goes up again I will get out. But will it go up again, and how far?
  • "probably at or above the 25K" Always have realistic expectations. Is a selling price 4 times the actual price realistic?

The following story was posted a few years ago on ET:
"The one in the S&P sold 210 contracts at 250$ a point at 495 in 1995. In 1994 he made more than 1 million profit. When things went wrong he waited till the market retraced. But in 1995 it didn't retrace anymore at all. After lots of margin calls his account got wiped out completely. He was lucky because he still had some 3 million on another account that he used for living."
 
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johnarb said:
We've been at this back and forth for a while now. You're not changing our minds and we're not changing yours, that's the way it's going to be.

I do wonder what would happen if I post in here that you convinced me to sell all my cryptos, would that make you feel better? You say you don't care but you seem to care for us longs, as you keep trying to convince us to sell.

We're all responsible for our trades. And no, you will not convince me of anything as I do my own due diligence. How are your trades by the way? You seem to be doing well.
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I'd only feel better if you sold and btc goes to zero.

I feel certain about btc because I have been accurate in reading sentiment... yes trading has been going well because of that. In addition I also work in IT so I can judge a software product based on developer base, penetration and life cycle... which is why I give all of crypto a generous market cap of $50-100b.

Here is my trading style. https://www.elitetrader.com/et/threads/trading-is-easy.321831/
 
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johnarb said:
We've been at this back and forth for a while now. You're not changing our minds and we're not changing yours, that's the way it's going to be.
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Well said my friend, it is too bad we can't have a clam exchange of ideas here without all the insults from these know it alls. They will croak when BTC hits 100K for the first time.
 
Illini Trader said:
from these know it alls.
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I did predict the very top and subsequent huge drop in this very thread, so you might want to listen when I am knowing something... :)

The thing is, none of your fundamental arguments make any sense and you might as well argue for pets.com that it is a fine business idea...
 
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