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Energycore

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About Energycore

  • Title
    The Ferryman whom you shouldn't pay
  • Birthday 1869-01-28

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  • Location
    Birdtown, OH
  • Interests
    Bird
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    Bird
  • Occupation
    Bird

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  1. I agree with this article in that the correction (crash or whatever you wanna call it) that happened this week helped weed out people who either a) suck at investing or b) couldn't give a rat's ass about blockchain and just wanted to get in for a get rich quick scheme. As Warren Buffet once said, don't invest on something you don't understand.

     

    https://cointelegraph.com/news/bitcoins-correction-could-well-have-shaken-out-potentially-damaging-investors

    1. Show previous comments  4 more
    2. Energycore

      Energycore

      Then, as people saw that the all-time high was set and we weren't going back up anytime soon, they rushed to sell in panic - it created stuff like 4 days ago when there was a massive selloff, so massive the market immediately picked back up and saw 30%+ gains from the people who bought that dip. This is still a market full of trading n00bs, but the hope here is that this crash pushed some of them away and the market becomes a bit more rational.

    3. Ryan_Vickers

      Ryan_Vickers

      Even normal markets aren't rational, and bitcoin is a long way from them

    4. Energycore

      Energycore

      That's why I said "more" rational :P

       

      I'm aware that markets are based on emotion, but the big spaces like the Dow Jones or big company stocks are run by investors who are very good at controlling their emotions and picking up those of others. In other words, people more rational than the guys who bought bitcoin thinking it wasn't ever gonna stop climbing.

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