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by thegreatpeter 1985 days ago
It's only annoying b/c you're riding the train and hope it hits whatever # it takes you to sell.

That's what's happening right now. It hit a number and folks are selling. For every seller at 40k, there's a buyer. That sucks for those who got caught up in it.

Bitcoin won't magically "stabilize" if it hits 50k/100k/1m, it will crash, just like its doing now. It will make a small group of people very wealthy on the losses of everyone else
2 comments
alwillis 1985 days ago
Bitcoin won't magically "stabilize" if it hits 50k/100k/1m, it will crash, just like its doing now…

This isn't a crash. 10-15% corrections are normal and to be expected. There's always resistance at round number milestones—$20,000 then $30,000 and now $40,000.

In the not too distant future, $40,000 will look quaint.

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cableshaft 1985 days ago
My number was a bit higher for when I was planning to sell a substantial portion, and yes that is part of the reason I am annoyed.

I was hoping it would reach that point 2-3 years ago, so even though I do think it's more natural we see corrections such as this, I just can't help but feel a little impatient, I'm human.

I know there's no guarantee it would even get up as high as it is now, and I'm actually surprised it shot up so much this year after being at $3,500 a bit more than a year ago, but oh well.

Bitcoin would have to basically crater into the ground for me to actually get to the point where I lost money. I bought most of what I have several years ago, and only get little slivers of it now, small enough I don't notice it leaving my paycheck. I spend less on it every month than I spend on takeout in a week, and I don't get much takeout.

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