do you know that when 'experts' in media or social networks say that the Bitcoin price will hit new record highs in a given year and they were actually right in their prediction? Me, of course not! Do you know that when 'experts' in media or social networks say the Bitcoin price will hit new lows in a given year and they were actually right in their prediction? Maybe. we will see... To be honest nobody knows what will happen soon. And those who think they know, are always wrong. That's one of the reasons why I almost always have a different opinion than the crowd. Because the crowd reacts from their emotions - greed and fear to be exact. When were they right?
One author said a while ago, for example, that you can not make money in this market because the price is no longer rising. Later, he recommended people to trade in traditional markets. The first thing I thought was that the bottom can not be far away from here. It's exactly these people who will afterwards buy out of greed and fear again. If it's going one-way for a long time, they'll find it okay, but once the market corrects, they have problems and blame others.
In conclusion, I have decided to buy in these areas, no matter how far we should go down. If the price continues to go down, then I buy more. The reason is quite simple: I'm doing exactly the opposite of what the mass does. While the crowd is trying to get the perfect buy point, I'm protecting myself from missing a bull run. And when I've learned one thing, it's that you can only make money at trading if you're doing the opposite of others.
In the end, it's not about who was right. It's about who made money. I am sure, with greed and fear you can not make money!
Thank you for reading, I wish you a nice day!
For those who do not know me, here are a few bitcoin and altcoin trades from before:
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Here is an older quote from me which I wrote about 8 months ago in May 2018. Now we have 2019 and I have kept my own promise:
''To all optimists: We will not reach a new all time high this year. We will continue to correct and we will most likely break the $6,000. This is what a correction looks like in every market. All this will continue until people (perma bulls) have no money available or no desire to market. Anyone who says my predictions are wrong and you're just dreaming, will lose all his money. I will stay bearish until others are bullish'' (22 May 2018)
Hereby I do not want to show that I was right, but that you should never listen to the opinion of the crowd. The insults of the people at the time was the best confirmation for me to remain bearish. Anyone who used to be wrong and lost money now has the chance to do better and learn from his mistakes. Learning from his mistakes is better than any money in the world.
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A break of $3450 would mostly mean that a new low is coming at around 2k area. If that happens I will buy more.
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If you have listened to me, then you have made more than +50% with Bitcoin. Think like an investor and don't be greedy! I think today you would not care if you bought at $300 or $170 in late 2014. The most important thing is you have bought and didn't miss the big opportunity!
''In the end, it's not about who was right. It's about who made money.''
+1 this, with trading you don't have to prove yourself to someone, so your ego should be thrown out the window.
i'ts you and the markets and you either give money or take it from the market.
''I am sure, with greed and fear you can not make money!''
You can definitely make money with fear and greed, but trading based on that never gives consistent compounded gains.
If 90% of people are wrong, then take the opinion of the 10% to be right. :)
Anyway, I came across your TV and like the way you think so you have a new follower!
E557
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@spookytown, Thanks for your comment and your opinion. I Agree with everything.
So who did all the MASSIVE dumping of BTC when it experienced those flash crashes? When all was seemingly OK and stable in the market. ...then all of a sudden..and for no apparent reason....huge dumpage and down plummets BTC....again...and again....and again. For example, good news stopped having a positive impact on the price of BTC but unimportant and insignificant negative news caused a major crash in its price. It's as though someone with a huge amount of BTC was hiding in the shadows waiting for the next bit of negative news about BTC to emerge so that they could then use that as a cover to dump massive quantities of BTC on the exchanges, thereby killing the price of BTC. I guess the plan was to get people to believe the flash crash was due to the negative news (even though that negative news was nothing important whatsoever ).This happened so many times it became a joke. In the end the dumpers no longer waited for negative news..they just dumped and crashed the price again and again and again. No one seems to know who the dumper/s are, despite all the so called market and crypto experts in the space watching it and commenting on it. This seems very odd to me. How about this as a plausible theory. A very large entity (financial institution or government ect), who wants BTC to fail, buys $10 million worth of BTC OTC. then dumps it on the exchanges. Price plummets. Chain reaction....trading bots trigger, price further plummets and ordinary weak retail investors run screaming for the exit. Said entity sucks up the now much much cheaper BTC and ends the day with even more BTC than they started with.Rinse and repeat enough times and investors become depressed and give up and sell their BTC's and abandon the market. Volume declines and with that the ability to move BTC's price becomes even easier. The dumper/s come back in again and do it all over again. Only this time they can dump even more BTC from their now even bigger stash of BTC on the exchanges and cause even bigger crashes. Seeing this price manipulation will cause bigger investors such as fund managers to shy away from buying BTC. Volume further decreases and eventually BTC's price collapses and is no longer of interest to anyone anymore, save a handful of so called cyberpunks and dark web trading rooms again. If the plan was to kill off BTC and cryptos in general, then this plan is working! Look at the crypto market now. Look at what is happening daily to the price of BTC. Look at the unexplained dumps. Banks fear BTC. So banks kill BTC for very little financial outlay. $10 million is but a spit to the banks or governments. Think how much money they could make by spending a poultry $10 million to kill BTC. More taxes could be raised as a result of preventing tax evasion via crypto and more banking charges could be levied by the banks. Killing BTC would be the best investment they could ever make.
E557
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@Salmin, I explain it to you this way: Every market consists of buyers and sellers. The prices are determined by supply and demand. When prices rise, people are getting more and more interested because of greed. Interest leads to more demand. At one point, demand is so high that the market is filled with a lot of dump money that does not want to miss the trend. From this time on, every single down move can lead to a sell-off to avoid losses. What happened at the top of Bitcoin. That's how the crash/correction came about.
Now you have to wait for a low supply to get more demand. I speculate that we are very close to the low supply and there will be buyers somewhere who in turn will raise the price leading to more demand.
SamTaheri
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i belive in you and follow you since 14K,, you see it from the beginning,, thanks for coming and keep us update,
AlanSantana
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Thanks for sharing.
VladimirBashovski
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Thanks for your idea, but missing a bull run is nothing to worry about, oppurtunities will come untill this world ends, BTC most likely will not hold 3.2 i personally start accumulate under 1.5k btc
+1 this, with trading you don't have to prove yourself to someone, so your ego should be thrown out the window.
i'ts you and the markets and you either give money or take it from the market.
''I am sure, with greed and fear you can not make money!''
You can definitely make money with fear and greed, but trading based on that never gives consistent compounded gains.
If 90% of people are wrong, then take the opinion of the 10% to be right. :)
Anyway, I came across your TV and like the way you think so you have a new follower!