How is the below a collapse
Early Feb 2017$955.00
Early Feb 2018$9266.00
about 970% gain
Early October 2017 $5243.00
Early Feb2018 $9266.00
about 56% gain
Early November 2017 $6527.00
Early Feb2018 $9266.00
about 70 % gain
During the above period it has crashed and risen several times . I use early November because the FOMO buying was obviously cranking up at that time . I think it had been occuring since early October
Early October 2017 $5243.00
Early Feb2018 $9266.00
about 56% gain
Early December 2017 $9650.00
Early Feb 2018 $9266.00
about 4 % loss
Early January 2018 $15,162.00
Early Feb 2018 $9266.00
about 63% loss
This only raises the question what happened between October 2017 and Feb 2018. It is actually a period widely acknowledged by both friends and and foes of Bitcoin as a time when Dumb money raced into Bitcoin and crypto in general. It is seen as dumb money on three levels
1. It was money that had no understanding of what it was buying
2. it was buying because of FOMO
3. It did not have the intestinal fortitude or even basic precautions to handle the high volatility that is the normal of cryptocurrencies
While I do not know if the dumb money has left I suspect that it could go as low as $6K as this roughly lines up with the price when the dumb money started accelerating the price to a ridiculous speed . It is also where TA practioners tell us there is a line of support
3 Report PostQuick replyReply with quote
Report Post Quick reply Reply with quote
