LOL @ "New" $7500 Bitcoin Price Point
Exactly one month ago I was talking about how $7500 was a very critical level for Bitcoin.
https://steemit.com/speculation/@edicted/bitcoin-has-never-been-worth-more-than-it-is-right-now
I've been saying this multiple times a week since then, and for the most part everyone blew me off.
Oh what? $7500? That's too low!
Are you willing to buy yet?
https://www.coindesk.com/the-case-7-5k-could-become-bitcoins-new-price-support
https://www.ccn.com/news/3-reasons-y-bitcoin-nosedive-below-7500/2019/07/17/
Now multiple articles are coming out talking about $7500. This should be old news to you; very old news.
Of course this news comes out at the worst possible time, as the price of Bitcoin is likely to gain some value over the next week. It's almost like they want you to sell low and buy high.
Once again I'm super annoyed that I can't take my own advice. I've known the real support is at $7500 and I've been talking about it this whole time, and yet still I put all my hedge money in to make a swing trade. Now that money is locked into the market for another week and I'll just have to hope I don't lose too much on that gamble. Of course, as a diehard holder, what's another $100 lost is this sea of red? It's not really that big of a deal. The real spike comes in the winter anyway.
Back to programming.
I would like $7500 despite the carnage it would cause in my stock portfolio (which is all blockchain plays) . I don't think we will get that low, but your prediction is as good as mine.
That's just it though: $7500 isn't low... at all. That's basically double the value we had at the beginning of the year. The fact that so many people think $7500 is low is almost concerning to me.
In the long run it doesn't really matter though... hell... in the short run even. The upcoming December/January run will make all time highs if history is any indicator.
Its the glass half/empty half full all over again. "Dude, 7500 is almost half of 13,000. I FOMOed in at 12,999 . I been rekt." If you know what I mean.
hm yeah sure but I think it will be 100k at the end of next year so :D
They're tryna lure me, I refuse to oblige
I'm def selling in a week.
Happens to me too like...always...
7500 is a pretty strong support zone. I think a lot of investors would be pretty happy with it, but I think it could still dip down to 6 before sitting around the 75 zone! If it keeps around there for the next few months I think id be pretty happy picking up some, wonder how alts will continue to bleed during this time
I would even suggest to go deep as 5000-6000$ for a real support zone. I think most of the recent rally was fueled by Tether printing, false hope about Facebook Libra and easy regulation rules but none of them facts have proven to be worth it.
I swapped most of my alts for bitcoin, sold a big chunk of it at 13 and 12.3 now I’m just waiting for them lows! Risks are scary to make but sometimes you have to risk some sooner or later.
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I have been right there with you my friend, I did however pick up some of the profits though on the rally because I knew it was totally based on Facebook Failed project lol
i still dont believe we will get lower than nine grand and if we do it wont stay below that for long bud
i said nine grand the last post you mentioned 7500 also so im not budging either lmao
cheers
We aren't even out of the summer yet, friend. Talk to me in September.