Some guys have all the balls
- Thread starter Pekelo
- Start date
This year is year 1 of the legalization of Bitcoin in many Asian countries, so you can disregard all prior charts. I'm buying more BTC today along with ETH.
If it's his life savings, he's a nitwit. If it's 10% of his net worth, I wouldn't judge him.
"In every boom companies are formed primarily if not exclusively to take advantage of the public's appetite for all kinds of stocks. Also there are belated promotions. The reason why promoters make that mistake is that being human they are unwilling to see the end of the boom. More over, it is good business to take chances when the possible profit is big enough. The top is never in sight when the vision is vitiated by hope. The average man sees a stock that nobody wanted at twelve dollars or fourteen dollars a share suddenly advance to thirty - - which surely is the top until it rises to fifty. That is absolutely the end of the rise. Then it goes to sixty; to seventy; to seventy-five. It then becomes a certainty that this stock, which a few weeks ago was selling for less than fifteen, can't go any higher. But it goes to eighty; and to eighty-five. Whereupon the average man, who never thinks of values but of prices, and is not governed in his actions by conditions but by fears, takes the easiest way he stops thinking that there must be a limit to the advances. That is why those outsiders who are wise enough not to buy at the top make up for it by not taking profits. The big money in booms is always made first by the public-on-paper. And it remains on paper."
Bitcoin is going to come crashing down.
Nothing in history even remotely looks like that chart -- and has sustained it,
Bet the farm on put options, and clean up...the reward from that will make its rise look like peanut returns,
Flip that chart around and you get:
