I know i just posted a few minutes ago so i wont post again for a while after this as i don't want to spam but something i am curious about is this.....
Who bought in to this blue zone?
Who bought in to this red zone?
What's your opinion on this?
Red zone, perhaps mostly a mix of smart money(?), technology enthusiasts who like the tech and people who owned bitcoin for a while and now re-investing? Were big institutions involved during this fast run up? (red zone). So this red zone would likely be a solid foundation if accurate?
Blue zone, do you think this blue zone is fresh money from people who heard you can make some fast easy money? Maybe read about this weird thing called 'bitcoin' in the newspaper?
The reason i'm wondering about this is i'm trying to think which section of the mountain is solid foundation and which part is built on sand (weak hands) as they will surely sell fast (panic sell).
I was waiting for Bitcoin to drop down to the low $3k mark, i've seen a lot of greattechnical analysis that looks good going down to $3k and 2k but i didn't see $2k being possible due to many people waiting to buy at around $3000.
But i've started to really think if we're going to 3k, then we actually might go all the way down to 2k.
Bitcoin came into fame in August (lots of media attention) and i think this is largely what drove up it's price rapidly to $5k, but all these new people who suddenly joined in on Bitcoin are now looking at 20-30% losses right off the bat, welcome to crypto, here's your 20-30% loss, eeeekkkkk! That's gotta hurt!
So i wonder if this sour taste that has been left in a lot the new Bitcoin investors will drive the price down to low $2000 instead of the previously more realistic $3000.
If we get into low $3000, i really think this is when all those new investors at the top of mountain (the sandy part with weak hands) who have not invested in anything before start to really panic sell and pull the plug (fast crash from 3k to 2k?).
So i guess this leads me to this, on the run up from around 3k to 5k per bitcoin, where did this all this extra market cap come from? Smart big money institutions? Or was it Jane & Bob, your friendly next door neighbor who read about Bitcoin in the news, have no idea what it does but heard you can get LAMBOS from it lol..... if so i really can see a panic sell off as soon as we get into low $3k mark.
What do you think? Too much overthinking it? Or is there some merit in any of these thoughts?
Who bought in to this blue zone?
Who bought in to this red zone?
What's your opinion on this?
Red zone, perhaps mostly a mix of smart money(?), technology enthusiasts who like the tech and people who owned bitcoin for a while and now re-investing? Were big institutions involved during this fast run up? (red zone). So this red zone would likely be a solid foundation if accurate?
Blue zone, do you think this blue zone is fresh money from people who heard you can make some fast easy money? Maybe read about this weird thing called 'bitcoin' in the newspaper?
The reason i'm wondering about this is i'm trying to think which section of the mountain is solid foundation and which part is built on sand (weak hands) as they will surely sell fast (panic sell).
I was waiting for Bitcoin to drop down to the low $3k mark, i've seen a lot of greattechnical analysis that looks good going down to $3k and 2k but i didn't see $2k being possible due to many people waiting to buy at around $3000.
But i've started to really think if we're going to 3k, then we actually might go all the way down to 2k.
Bitcoin came into fame in August (lots of media attention) and i think this is largely what drove up it's price rapidly to $5k, but all these new people who suddenly joined in on Bitcoin are now looking at 20-30% losses right off the bat, welcome to crypto, here's your 20-30% loss, eeeekkkkk! That's gotta hurt!
So i wonder if this sour taste that has been left in a lot the new Bitcoin investors will drive the price down to low $2000 instead of the previously more realistic $3000.
If we get into low $3000, i really think this is when all those new investors at the top of mountain (the sandy part with weak hands) who have not invested in anything before start to really panic sell and pull the plug (fast crash from 3k to 2k?).
So i guess this leads me to this, on the run up from around 3k to 5k per bitcoin, where did this all this extra market cap come from? Smart big money institutions? Or was it Jane & Bob, your friendly next door neighbor who read about Bitcoin in the news, have no idea what it does but heard you can get LAMBOS from it lol..... if so i really can see a panic sell off as soon as we get into low $3k mark.
What do you think? Too much overthinking it? Or is there some merit in any of these thoughts?