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Earlier quoted context omitted.
I just bought some and I will sell when it reaches 5x if it ever does.
If you're buying in order to speculate, why not sell gradually into the gains? Your strategy seems like it is taking what is already a high-risk, and artificially making the risk higher than needed... Also, the time to buy is almost never after/during a large boom, heh.
Earlier quoted context omitted.
I just bought some and I will sell when it reaches 5x if it ever does.
If you're buying in order to speculate, why not sell gradually into the gains? Your strategy seems like it is taking what is already a high-risk, and artificially making the risk higher than needed... Also, the time to buy is almost never after/during a large boom, heh.
since this is getting downvoted, I will give a simple example... if you have $2 and it goes up 100% (two-fold incease), than you have $4... but if you cash half your money, then you have only $1 invested, and you are stuck with $3 instead of $4 ... and lost 25%. Not sure if my math is 100% right, but if you are betting on value going up, you lost money.
looks $ flowing out of alts and into bitcoin, which is somewhat surprising given the concerns over high transaction fees
Of course, it could just as likely be $20k tomorrow.
Edit: removed unnecessary hostility. If you have money to spare on a high risk gamble like this then by all means. But in general there's just no way everyone jumping in is fully aware of the risks.
This is becoming a joke. Meanwhile, transactions times in both BTC and ETH are getting ridiculously slow.
As someone that has been in since 2013, I don't even recognize the current scene. The only reason the vast majority of people are getting into it is to get rich. It seems totally unsustainable, but the only incentives for people on the inside are to loudly convince others to join them.
It's impossible to predict. Anyway, I'm investing with a buy & hold philosophy.
Seems like a significant portion of the capital is coming from Asia, mainly South Korea, with just Bithumb BTC/KRW trades making almost 11% of today's volume. https://coinmarketcap.com/currencies/bitcoin/#markets
looks $ flowing out of alts and into bitcoin, which is somewhat surprising given the concerns over high transaction fees
I think people just don't understand that most participants in "Bitcon boom" knows this is a bubble. Every major news outlet says it's a bubble every couple of weeks. This is a common knowledge, everyone are saying it's a bubble.
I know it's a bubble too and I have bitcoins but I don't care that it's a bubble. I am holding BTC from the time it was worth couple of times less when everyone was saying it's a bubble also. Even if it goes down a lot below 10k now I will still make money.
I think a lot of people yelling "you morons don't buy bitcoin!!!1111" need to understand that people are aware of the risk, like they are aware when going to casino that they can lose money and there will be people that will lose their money for sure. The last one in the game takes the highest risk, that's all.
looks $ flowing out of alts and into bitcoin, which is somewhat surprising given the concerns over high transaction fees
Might be an indicator of the old FOMO maneuvers. Whether the underlying realities are solid (fast, cheap transactions) or not is less relevant if people were, say, profit taking on their alts and pouring it into BTC since they feel BTC is rallying more/consistently with the spotlight on it. Interesting observation, in any case.
but that's only the case if the coin isn't popular. more popularity = more transactions = more competition for block space = higher fees.