Quote:
Originally Posted by thaskalos
For the last month or so, well-meaning friends have been bombarding me with calls and text messages...telling me to stop wasting my time with this "gambling nonsense", and to get into cryptocurrencies...where "every horse wins". When this sort of "euphoria" becomes widespread about a particular type of investment...can a steep correction be far behind?
But I think people are now giving up on Bitcoin a bit too soon. Rough waters are to be anticipated when an investment-vehicle seeks to circumvent the vice-like grip of the banks that govern our world...because such a venture is sure to create some very powerful enemies.
After considerable study, I have become a believer of the cryptocurrency philosophy, and I consider this steep decline to be just a "shakeout manouver"...which seeks to scare the meek out of any long-term position in Bitcoin. In our world...the big profits aren't for the "feint-of-heart".
I see Bitcoin sinking to about $10,000...at which point I will jump onto the bandwagon in a big way myself...for the LONG term. The bible got it wrong...it's the BOLD who inherit the earth.  |
There is virtually no support until around the $5000 level. Remember, it wasn't long ago at all when Bitcoin was at the $5000 level. It if falls down there, bottoms and consolidates for awhile, I'd consider buying in. But not a moment before that.
