Hello, dear members of LeoFinance!
So, the price of Bitcoin doesn't stop to Increaseeeeeee!!! That's why everyone talks about Bitcoin! And, of course, today I will also talk about Bitcoin.
So, usually, on a daily basis, I post technical analysis (TA) on different cryptocurrencies, but, in general, mainly on BTC/USD. And, I always use charts, outline some technical patterns, candlestick formations, etc.
However, today I won't write andy TA, because, the price of Bitcoin is simply increasing, without any stop, and it is easily visible with the naked eye:
So, what I want to say today, without the need to write TA: there are always people who have been keeping an eye on bitcoin, but have not invested in Bitcoin. Many of them have just started to claim that "Very soon Bitcoin will collapse!" or "Bitcoin is overbought! It will decline!", or even more extreme - "The Bitcoin bubble is about to burst!", etc. And, this is easily explainable, why these people say such statements.
Let me give you one very explicit example. Back in 2009, I was at one conference for investors in stocks, bonds, real estate, etc. During the conference, there was a section devoted to Real Estate and the current market stance in my country. One lady, probably in her 40's had a speech about the Real Estate projects, the company she represented, had. After she ended the speech, the audience started to 'ask' questions. Half of the audience started to claim that "The Real Estate market is a bubble! It is overbought! The prices should drop by at least 50%!", the rest started to claim "No! It is not overbought! The prices are not high and they will continue to increase!". And then the lady, representing the Real Estate company, interrupted the audience and said: "The people who claim the prices are high, and the Real Estate market is a bubble, are those who have no investment in Real Estate! The people who claim the prices are not high are those who have apartments, or houses and etc. and they don't want the prices to go lower!". Yeah, that was the case! The lady was absolutely right! What a simple explanation she gave!
So, what I want to say. Nowadays many people claim that Bitcoin is in a bubble phase and the price will collapse soon. Even recently on a daily basis, I have phone talks - people calling me and telling me that "The bubble will burst!'. To be honest, even now, while I am writing the post, a friend of mine called me and talk to me about Bitcoin for about 20 minutes. Fortunately, he is a Bitcoin bull. He-he! Anyway! I just want to say that most of those claiming that "Bitcoin is a bubble" are from the people, who don't have Bitcoin and although they regret they didn't buy it earlier, they are not ready to buy Bitcoin now as well. That's why their statements are mainly a product of their resentment.
No doubt, that the price of BTC won't increase constantly without any breaks or pullbacks. But, those who try to short Bitcoin, because of their resentment I outlined above, are really playing with the fire. For my over 14 years in the financial markets, I have seen many people lose their money when shorting different financial assets, such as stocks, commodities, etc - shorting triggered by their resentment of not being able to join the rocket! I also had some really tough times, losing almost everything, just because of shorting the market because of resentment. That's why those who are going to try to short the crypto market and to develop a trading strategy based on playing against the market (let me underline the word PLAYing aginst the market), are going to lose everything sooner or later, at least in my view.
To be continued ...
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 14+ years, and as a cryptocurrency analyst for the last 3+ years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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