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RE: Why Do People Always Forget What Happens When Charts Look Like This?
We are absolutely due for a correction... my guess would be 30-40%... but unlike other speculative bubbles driven by "irrational euphoria," cryptos are a tiny market that's at the edge of mainstreaming. The sheer volume of new money flowing in might take a while to be absorbed... and the supply of BTC is very finite. There can't BE a bunch of IPOs of Bitcoin; there can't BE 5000 new BTC "neighborhoods" built to meet demand.
My question isn't "whether," but "when." I think we may be earlier in the bubble than many people think because the bulge of incoming cash is large and supply is limited. I'm more inclined to think we might have a spectacular crash from $4000 BTC or even $5000 BTC. But who really knows?
I think you have valid points, and have considered those possibilities as well. As I replied to someone else, I don't like to buy inflated assets in hopes they go higher. It's a poor idea that, more often than not, ends in heartache.
On the way up, little by little, I've been trading BTC for other assets that I think are undervalued. For example, silver.
I'm with you on that. "Buy high and sell even higher" in a speculative market is more like Russian roulette than investing. I started taking bits off the table about two weeks ago... "just in case."