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RE: Speculation Rule: buy when others are IRRATIONALLY pessimistic/cautious
As the saying goes - it's time to buy "when there is blood in the streets" Gotta be patient for that moment. It comes after people think it's "cheap to buy" because it's down so much....once something goes lower from there, that's when its time to get in. Learned that lesson hard way with oil stocks two years ago.
But I am also writing about the fear and emotional excuses that languish after the low has been reached (in this case which was $150 for Bitcoin).
Also readers would learn even more by clicking the links I have provided.
The Bitfinex hack overreaction was another buying opportunity.
See any similarity with the above chart and the typical one for new investments: