You are viewing a single comment's thread from:
RE: HODLer Alert! Cryptosphere "invades" our Backyard!!
Conversations have changed tone with people who knew I bought and then kept buying when the markets were high. Never at the peaks, but close enough that todays prices hurt.
They had been giving me a hard time for a while about how I fell for the pump and dump of the century and so forth. Now they are starting to ask more about the tech and why I'm still invested. This tells me that people are starting to take more interest or at least accepting that crypto isn't going anywhere. If the masses in the US start buying crypto the prices will skyrocket.
Yes, @pifc agreed ...
... this will ultimately happen, but when? To my mind, the average person is both unwilling to go through what we have and they are fearful, since the big name investment firms have been very dismissive of this asset class, to say the least.
That is what is beginning to change. Why? Because the pieces are being assembled to allow them to profit from this asset class.
Once in place, I think we'll see the marketing ramp up to suddenly tout this asset classes virtues vs. trashing it.
Then people will follow along. In much larger numbers than anything we've yet seen. That's where my hope lies anyway ...
Thanks for stopping by @pifc!
Posted using Partiko Android
The masses are asses is a common catch phrase for those in the investment world...I'm glad I'm out of that world. Anyways they are always late to the party. Happy to make 8% on their money instead of thinking like the bankers who come in LONG before them and make 800% (or more). They want safe little investments wrapped with a bow that are supposed to help them have a better retirement at 68 years old when their body is starting to fail them and they can't enjoy but a few years before they think a big day is 18 holes on the golf course with a cart.
Sorry, but that isn't something to look forward to IMO. I want to be ahead of the bankers and make the real money. Let the bankers come in and make Crypto easy to purchase for institutional investors who will buy it up and then start pumping like crazy getting the masses to follow.
Honestly once the masses enter this market I'm gone. That will be a sign that a massive correction is going to follow. The institutional investors will make a play to buy up cheap coins across the market and then pump everything up. Once the masses start buying they will sell off and the masses will be holding a ton of overpriced coins. Crash will happen, IMO a 75% correction or more based on how much they pump it. Then the institutional money will start flowing back in when the masses start jumping ship because their credit card bills are due and they freak out wanting to collect something instead of chancing it going to zero.
This has happened a few times in my lifetime with stock and bonds, no reason it won't happen in a extremely thinly traded market like crypto. If they can manipulate something like gold which market alone is bigger then all of crypto can you imagine how much they can mess with this market. The pump will be big, the dump will be bigger.
Interesting perspective @pifc. Definitely agree with much of what you say, particularly about the manipulation of the market by the so-called “smart money” … Most people fall victim to it, at one time or another. I certainly have been burned by it …
So, is my investment in this new asset class “the same ole story, different chapter?” Time will tell, but I believe this is very different.
Never have and never will be a part of the “golf-by-day, bridge-by-night” crowd, I would also like to be productively engaged. As long as I have my health and wits intact, at least. I’ve at least enjoyed my investment in this class than others of the past, simply because I probably understand it better.
We’ll see what happens. Hopefully together! 👍