@bibzmibz, Well considering that december was only 2 months ago it wasn't so long.
There are certain spikes in volume when fomo kicks in, just to cool off later.
And we still haven't seen massive cashing out of early-adopters, and at some point they are going to do it, probably doing it right now also. Because, I think, that now everybody see, that BTC can't be used for P2P cash, and even with lighting network it won't ever be.
Nobody will count in satoshis, your payment.
Asset is an asset, and at some point (I think major cashing out has happened around 17-19K, and if we move higher it will happen again) is going to surpressed by them.
It's an ideal perpetual machine to pump and push in, until those 6+M or 40% in hands of 1000 people will try to go out with cash.
And in alts, the disproportion of wealth distrubution is eve worse, sometimes a few entities holds 90%...
bibzmibz
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@JA.piotr.bor, I totally agree with you on most of your point. We haven't seen the big players cashing out. I am not sure if this will be around the 19k zone or higher... Whereever it is fact is: more people are coming into the space pushing demand up, consequently the volume and the price. I am pretty sure there is plenty of room for it to grow. The brand has massive value. Not speculative, not related to p2p... simply sentiment. :)
mmmp12
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@bibzmibz, Thank you. But I think some big players, are actually cashing out, at least partially.
They were holding coins from 0.1-1-10$, and in reality BTC is still not ready, and I doubt it will be ready, for anything than big speculation - which only can make money, when there are actually more suckers to pile in cash (or if tether case is true - when you have fraud going on, but that's if, I don't know, if it is).
And when
Maybe there were the big part of suckers waving in with cash, and saying "hey 8K-10K-15K is pretty sweat deal", but I doubt there will be more of them (unless GS, will try to manipulate market and pump it hard).
Because in reality most of people have come in the space, and I can bet on that, they have 0 knowledge, to actually assess the value of most of the projects.
I believe I have some knowledge (although, it's still not big - but good enough to assess it), and holy cow, there is so much vaporware, and so much really bad stuff, priced in millions or even billions, that I can't really make any logical assumption of it, apart from mania driven speculation, which always comes to reality check, even if it's prolonged, and overextended. It's actually worse than 2014 coin shitcoin mania - because from it, a lot of shitcoins died, but mostly people weren't investing millions in it. ICOs are 1000% worse, with actually requiring you to put money, on mostly vague concepts. Whole shilling, pressure from some social media etc. everything leaves a bad taste, and make you think of this 1990s "investment opportunities", just packed into "blockchain tech" like it was just invented in 2017.
You can't force people to invest/trade in sth (outside trading world), and a lot of people without any experiance "invested" (really it's just specualtion, because those assets, have in reality 0 intrisic value - it's just a basic fact, not that I'm some critic - because I'm not).
When I see something like this,
twitter.com/timbray/status/963115537185124353 it's definately isn't time to put money in decentralized (khem.. between China pools) "ephemeral digital vapor".
mmmp12
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@JA.piotr.bor, if someone is investing (not trading - trading is totally ok), based on sentiment, that's a really stupid and fools play in reality.
People considering price = blockchain developing, are also big part of these fools too.
Actually what big swings and apprecation of price does is mostly catching eye of scammers and pumpers.
Some (maybe 5-10%) of true innovation, rest is just something done quicky to make off fast with cash, until anybody sees that music is over.
I underestimate this bubble, but overextension it beyond current levels is a huge risk play, for anybody, who wants to play it.
It's hard for pumpers now, pumped a lot of coins they have a really hard time, and they are trying with all cash, they have I guess, but even then 2x-3x is the most they can get now. Sell walls also intensifies.
I'm just curious, if people think it will run indefinately.
There was a time, certainly there was even a lot of time to join these sucker play. But now it's not this time (unless as I said frickin GS, or any other big investment bank will want to pump it to play it, but even then, they would have to have some to sell it too, and it would be hard one, with such pumped valuations).