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RE: Be Greedy When Others Are Fearful And Be Fearful When Others Are Greedy - This Might Be The Last Chance For Common People To Own A Full Bitcoin!

in #bitcoin6 years ago

Ponder this: "The surest way to make the wealthy no longer wealthy is to stop wanting whatever it is that makes them wealthy." In other words, find a different money and want that instead.

Bitcoin's power has always been it's ability to replace fiat currencies because it was more efficient, accepted worldwide and essentially unstoppable. The mistake the creators of Bitcoin made was they released the code and concept to the rest of the world.

And now we have Litecoin, Ethereum, Bitcoin Cash, Monero, Steem, Decred, Aeon, and another and another and another. Don't want to pay $19,000 a coin for BTC, pick a different one. And they did. That's why the price is now $7000.

Bitcoin may be the new money, but this still comes down to market trading fundamentals. More buyers than sellers means the price goes up. More sellers than buyers means the price goes down.