BITCOIN AND CRYPTOCURRENCY - HITCH A RIDE OR STAY STRANDED
BITCOIN AND CRYPTOCURRENCY - HITCH A RIDE OR STAY STRANDED
There has been a lot of smoke billowing about Bitcoin and its future after the ATC and One Coin expose on ABP News.
Investors and speculators believe in the "herd theory". Go with the herd is the saying and that's where 95% of the investors end up losing their shirts. They don't act - they react. We are not chemicals and hence can rationalize before reacting. But the mayhem and the pandemonium are so deafening that the voice of reasoning is lost in this high decibel war which swings from HODL (Hold on for Dear Life) to REKT (completely destroyed).
ABP News like all news channels has jerks for newsreaders who like to sensationalize and create mass hysteria by *misinforming the viewers* with half cooked knowledge. At times like these, _You need to take a contrarian view_ Remember, *Buy when they cry, well when they yell". In crypto parlence when it is said *moon* book out and when they say *rekt* start buying.
Now coming to Bitcoin: A journey from $0.02 to $5920 in a mere 8 years!!! Insane but true. Against all odds but an even opportunity for all!
Spectators at $200 - it's a bubble.
Spectators at $500 - it's too heated up.
Spectators at $1000 - he he he, the crash is coming.
Spectators at $1200 - Is it here to stay?
Spectators at $2000 - Let me buy when it goes to $1000.
Spectators at $2500 - Damn, damn, damn! Wish I had bought it at $200 but too late now.
Spectators at $3000 - it's over priced!
Spectators at $4900 (in September) - I knew it's gonna crash.
Spectators at $2988 (in September after the China ban) - Will buy at $2000.
Spectators at $ 4200 (7 days back) - Other countries will follow China.
Spectators at $4800 (yesterday) - it will form a double top around 5000. Impossible to cross this barrier.
Spectators at $5920 (today) - darn my luck. I am cursed. My luck doesn't hold.
Bill Gates, Richard Branson, Warren Buffet and many billionaires have hailed cryptocurrency as an idea whose time has come. JP Morgan Chase invested billions into it.
Japan embraced it. China was scared of it being a socialist country. USA was nebulous but knew it was irreversible. India wants to launch "Laxmi" the Government's own cryptocurrency.
Then, I find it inexplicable when people say that it will be banned. Countries will shun it. Bitcoin is doomed. people say this because they want to hide their frustration at not having been a part of this phenomenon.
There are 2 types of people:
One who create history.
Second, who witness it happen.
Now, what category do you fall into.
Remember, when a tidal wave (Tsunami) hits the shore, you can't fill buckets and pour the water back into the ocean.
*Cryptocurrency is a tidal wave*
A cryptocurrency with an ecosystem a *Tsunami*
Surf the wave or stand and get swept away. The choice is yours!!!