Bitcoin comeback from disastrously falling prices?
"Bitcoin is dead," they screamed again. "...It's dead this time for sure."
The so-called experts came out last week and earlier this week touting the death of bitcoin, yet again. They showed how, according to market analysis and studying the charts for other currencies and "equities" that Bitcoin was heading below $2,000, probably to about $1,800.
But here is a simple snapshot of the chart over the last month, week, and day.
This is a very simple, repeating oscillation that looks a lot more like people trading with the currents (red days and green days) across the entire spectrum of cryptocurrencies.
I'm a smalltime investor in cryptos, with less than 50k in the market. But, I know a good thing when I see it. I also know that new markets and virgin territory is where we are. This space is not mature, there is a lot of emotional reaction and trading. Don't be a trader, be an investor. Hold on and take a breath and give bitcoin, ether, and the rest of the children a little time to get out of grade school and into university.
You don't want to be that guy or girl who got out right here only to watch the market do another 1,000x. Remember the 10,000 btc for 2 large pizza's guy? Think that guy is happy right now? Think he can even eat a bite of pizza without vomiting and falling into a quivering mess?