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RE: Beware my Cryptofriends! "Winter is coming..."
I agree.. I've been waiting on the mother of all crashes for a while now. Especially now that everybody is so hyped and believes it'll never happen..
I suffered through 2013/2014 and the mindset of those who did is very different from those who are new.
I can only imagine what 2013-2014 must have been...
These newcomers just think it will go up indefinitely which is the sign of a big bubble waiting to explode...
2013/2014 was 10000000000% exactly like it is right now. So much that it's terrifying me. Back in august the chart confused me because I expected 'the crash' but it was confusing since the chart didn't at all resemble the parabolic moves from 2013/2014 yet. However, now it does.
What was hardest about 2013/2014 and which nobody realizes yet, is that Bitcoin and crypto died basically. People think everybody's talking about Bitcoin now and it won't go away, but 3-4 years ago everybody was talking about Bitcoin too and thought the same. People have a short memory.. I don't understand why people can be finding out about Bitcoin now when it was a similar hype 3-4 years ago.
It sucked having to hold my Litecoin for so long. Truthfully, the only reason I didn't sell was because it was so low that selling it wasn't really worth it.... When Litecoin suddenly went up this year, I was finally able to exit it and I'm never ever touching it again. I feel sad for those people who fall for the promise of 'Digital Silver to Bitcoin's Gold' today. It's like we're all going through the same development processeses in crypto.. everybody has the same amazing revelations, disillusions, etc.
People think the crash, if it comes, will be great because they can buy cheap Bitcoin. Sad thing is,. very few actually will. Because when the price does tank 90% it will be for a reason, and buying Bitcoin will seem like the worst idea ever. Just like it was the past three years.. where were all the 'Buy the Dip'-buyers then, hm?
I learned my lesson though. If it does come to it, even if it's illegal to do so or whatever else negative thing happened to Bitcoin, I will throw some money at it and consider it lost money. Just like how it would have been thrown away money if you bought Bitcoin two years ago. I think the current generation of Bitcoin buyers will come to that conclusion too, next bubble/crash in a couple years from now.
So true...