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RE: Why Bitcoin Could Fall Lower From Here

in #bitcoin7 years ago

Thank you for the kind words snakemeister (your name and profile pic make me laugh). I continue to play in this market for the same reason as most people - to make money. I've already made enough at this point that I can't lose if the market crashes and I've locked in enough profits on my initial investments that I've drastically outperformed what the stock market could have done for me.

Bubbles tend to offer great opportunities to create wealth if you just play it safe rather than greedy. There are people who made a nice chunk of change in the bull housing market prior to the 2008 collapse because they didn't keep buying new properties, but instead took advantage of the rising house values without leveraging themselves to death. Then there are the people who kept buying home after home because it was affordable and they were making a killing leveraging themselves (until it collapsed)

In fact, this is true of every bubble that has ever existed - there are people who reinvest everything, and then there are the conservative ones that take some money out to guarantee they come out ahead. The latter tend to underperform as the bubble continues to inflate, but they get to sleep well at night when the bubble pops. So all in all, I play with this market to make money. I also think the bubble will keep going for a while given the state of all the other existing markets for investing.

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Thanks for the response! Can't wait to see where this market goes in 2018!

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