>“Joe Kennedy, a famous rich guy in his day, exited the stock market in timely fashion after a shoeshine boy gave him some stick tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good.”
What are your thoughts?
Time before internet
Everyone knows about everything right away now
stick tips
joe kennedy is still a poorfag to this day
Everything points into BTC being a huge bubble and yet it continues to rise. I wonder for how long.
btc has regular pops all the time running back 40% easily.
its just that theres a ton of money waiting on the side to scoop up cheap coins in the aftermath.
this is jsut gonna keep going until trillions mkt cap
It's an interesting case of mass psychology.
If there is a sufficient number of people buying the dip each time (and they could be all different each time) it's possible Bitcoin never truly crashes.
For Bitcoin to crash there needs to be a major external event akin to Mt. Gox. A major $1 billion dollar daily volume exchange needs to be hacked.
Like Bitfinex for example.
youd need several exchanges going down all at once and wiping out over half the market cap.
one exchange wont do it, its not enough
Western FOMO and GREED is feeding Bitcoin. Shills and Memes have taken down the greatest nation.
>what is tether?
The longer BTC meanders around in the same range, the more interest will fade.
The lack of volatility nowadays is almost the worst thing that could be happening to it, because it lowers the energy of would-be dip buyers.
There is nothing more harmful to BTC than being boring, and it's being boring.
That just speeds the process up. Quicker growth and lead-up collapse
Bitcoin's popularity and value truly lies in the hype surrounding it and the fact that it is the first of its kind.A lot of alts function much better than Bitcoin but are obviously less popular, just ask any smart person on here whether they'd buy BTC or ETH for the purpose of exchanging for alts. BTC can be boring all it wants, something else will take its place if it takes a nosedive.
This user knows. Soon (tm)
>cryptocurrency is the stock market
Love this meme
this is relatively a new frontier, and theres no reason for you to assume that this is "popular"
the only reason why we have former pornstars and neets giving us advice (good or bad) is because they spend all day on the internet and might actually learn something valuable
stock market is not currency. bitcoin has been crippled by the scaling debate so whales can accumulate. once adoption begins there is no limit
Read a book fags. At the height of every bubble in recorded history, people start denying economic truths and obvious patterns, basic physics even. In meme terms: "new paradigm", "this time it's different". There is no group that will buy the bags of of the idiots getting in at these huge ATH prices. The only group that actually could (you need exponentially growing investments to keep this growth up) got in at the start of the year (smart money).
Now it's time for the suckers to get fleeced.
And the same overreaction that caused this overshoot to the upside, will happen on the crash down. Then 95% of current alts and icos dies (happened before last big btc crash).
Let the bongripper NEETs learn their lesson the hard way. It will toughen them up. Let's just hope it doesn't coincide with the market correction, lest it get ugly.
>bitcoin has been crippled by the scaling debate so whales can accumulate. once adoption begins there is no limit
"Debate"? You mean the actual, unfixable scaling impossibility that ensures adoption will never happen?
>inb4 whatever IOU that "they're working on"