The Bitcoin Bubble
Zaktualizowano
Bitcoin was the most amazing bubble in known human history, starting off from essentially $0 and topping out at $20000 with everybody and their grandmother trying to find the geek of the family to find out how to buy Bitcoin in exchange for shepherd's pie.
Can you say.....REKT? :D
Bitcoin surged on news of Chicago Mercantile Exchange CME introducing cash settled Bitcoin Futures. I remember sitting in the car with my Ipad on BitMex watching the price surge several hundred dollars from $7000 seemingly in a few seconds. Bitcoin was the real deal, everyone was going to get a Lambo for their genius ALL IN strategy, and the governments we're gonna be overturned because of our rebellious, shiny new CRYPTOCURRENCY. We assumed Institutional money was about to start pouring in from all sides since we also assumed that CME adding futures meant that they ACCEPT BITCOIN. We thought we won, and the dollar was dead and Fiat was history.
Boy! were we wrong.
the price had continued to increase significantly during November. You could just open a long with a loose enough liquidation price on BitMex and buy a new car in a week. You trusted Bitcoin. IT WAS ALWAYS A BUY.
Everyone who HODLed from he early days was now a genius, Ethereum and Litecoin took off, ETH reached around $1400 and Chikun flew, to like $500. Which was a bit alarming, since I only entered this space about 3 years ago, and Ethereum was like $4 last I even remember and LTC I didn't even give a sh*t about.
In fact nobody did. Nobody even knew what Bitcoin was. EXCEPT FOR THOSE WHO DID.
Bitcoin was used on the darkweb for anonymous transactions for many years on onion domains like Silk Road and Alphabay. The public had a somewhat negative outlook towards Bitcoin.
AND THE NEXT THING YOU KNOW? It's 17k and now you look like an idiot for not buying any. Your first reaction? You get your credit card out. Buy all the Bitcoin you can, and sit on it. I mean....ITS GOING UP RIGHT?
It goes to $15000. You made the right descision. It goes to $16000, your ego goes 2x. It goes to $19500, you've become a walking, talking Bitcoin advertisement telling everyone and they're dog to "BUY BTC ASAP".
And they do.
It tops out at $20000. Next thing you know, it's falling thousands of dollars a week. We've been priced out because we didn't put a stop loss in. Some sold their houses. Some sold their car and bought a bicycle. WE BOUGHT BITCONNECT! We did pump and dumps. We bought shitcoins...we did it all. It was great. It was the biggest bubble in human history, and I'm proud that I could be a part of it.
Thanks for reading guys,
See you in the chat! :)
RaoulHayes
Can you say.....REKT? :D
Bitcoin surged on news of Chicago Mercantile Exchange CME introducing cash settled Bitcoin Futures. I remember sitting in the car with my Ipad on BitMex watching the price surge several hundred dollars from $7000 seemingly in a few seconds. Bitcoin was the real deal, everyone was going to get a Lambo for their genius ALL IN strategy, and the governments we're gonna be overturned because of our rebellious, shiny new CRYPTOCURRENCY. We assumed Institutional money was about to start pouring in from all sides since we also assumed that CME adding futures meant that they ACCEPT BITCOIN. We thought we won, and the dollar was dead and Fiat was history.
Boy! were we wrong.
the price had continued to increase significantly during November. You could just open a long with a loose enough liquidation price on BitMex and buy a new car in a week. You trusted Bitcoin. IT WAS ALWAYS A BUY.
Everyone who HODLed from he early days was now a genius, Ethereum and Litecoin took off, ETH reached around $1400 and Chikun flew, to like $500. Which was a bit alarming, since I only entered this space about 3 years ago, and Ethereum was like $4 last I even remember and LTC I didn't even give a sh*t about.
In fact nobody did. Nobody even knew what Bitcoin was. EXCEPT FOR THOSE WHO DID.
Bitcoin was used on the darkweb for anonymous transactions for many years on onion domains like Silk Road and Alphabay. The public had a somewhat negative outlook towards Bitcoin.
AND THE NEXT THING YOU KNOW? It's 17k and now you look like an idiot for not buying any. Your first reaction? You get your credit card out. Buy all the Bitcoin you can, and sit on it. I mean....ITS GOING UP RIGHT?
It goes to $15000. You made the right descision. It goes to $16000, your ego goes 2x. It goes to $19500, you've become a walking, talking Bitcoin advertisement telling everyone and they're dog to "BUY BTC ASAP".
And they do.
It tops out at $20000. Next thing you know, it's falling thousands of dollars a week. We've been priced out because we didn't put a stop loss in. Some sold their houses. Some sold their car and bought a bicycle. WE BOUGHT BITCONNECT! We did pump and dumps. We bought shitcoins...we did it all. It was great. It was the biggest bubble in human history, and I'm proud that I could be a part of it.
Thanks for reading guys,
See you in the chat! :)
RaoulHayes
Zlecenie aktywne
Shorting this, note inc EMA Death Cross.**A "death cross" is a cross between two moving averages, usually SMA or EMA, where the 50 moving average drops below the 200 moving average. This is a negative indicator as the underlying asset may be in decline. This could indicate further substantial downside.
Uwaga
Here are your supports traders
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